Marketing Strategy and Marketing Plan

A definition of marketing strategy is that the broad philosophical guide that describes the process of a company continue to achieve its objectives. It defines the marketing approach in general terms to the company. This strategy will determine the selection of target market and product development, philosophy of pricing, distribution model, and the general structure of the organization. Can be considered the framework within which we develop a marketing plan.

So what is the difference between marketing strategy and a marketing plan? The marketing plan are the details of proposed implementation of the marketing strategy. Here is an example of how these two concepts are different.

• A marketing strategy can be said that the company will create an Internet presence and penetration in the sporting goods retail market, and make more economical as possible, and the goal of market share rather than setting strict profit margin.

• A marketing plan to implement this strategy could offer the development of niche sites with a retail sale of baseball gloves, golf gloves and other football helmets and pads for sale for sale. The plan in more detail each site may use a ship supplier to minimize overhead costs and the pricing structure of each site must be less than the average of other competing sites.

This example, although pure fiction, and not to demonstrate the relationship marketing strategy and marketing. It would certainly be more details on the implementation plan to restrict the scope of a target market, identify advertising and promotional materials development, among others. However, the main objective of the plan is to implement the strategy. Although each company the exact definition of the marketing strategy differ in detail, each is the broad philosophical guide that describes the process of a company will continue to fulfill its business vision.

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Friday, February 25th, 2011 Business Plan, Business Strategy

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