How Do You Prepare A Marketing Plan And Define A Marketing Strategy?
Strategic marketing planning is the process of matching the present and future resources of a business with anticipated future opportunities in the marketplace. It is a formalized approach used to identify, evaluate, and choose alternative courses of action to accomplish desired objectives. To be meaningful, strategic marketing planning must become a way of life, an attitude, and an ongoing process of strategic thinking on the part of management. The strategy statement in the marketing plan defines the approaches to be taken in the marketplace to accomplish the desired marketing goals. Developing a marketing strategy, however, is not merely the listing of objectives, courses of actions, or procedures, which that will be used to implement the marketing strategy. Strategy development also addresses the concepts and methods a business will employ to best utilize its resources and competitive advantages to achieve the highest possible level of performance in the marketplace. To establish a
