The fundamental goal of marketing strategy is increasing sales and achieving a supportable or sustainable competitive advantage. It is clear that marketing strategy includes all fundamental, long-term and short-term activities in the marketing’s field that deal with the evaluation of the initial strategic situation of an organization and the formulation, selection, and evaluation of the market-oriented strategies. Therefore contribute to the objective of the organization and its marketing goals.
Marketing strategy versus marketing management
The distinction between managerial and strategic marketing is commonly utilized to distinguish two phases having various objectives and based on various conceptual tools. I would like to say that the strategic marketing concerns the selection of policies aiming at enhancing the competitive position of the institution, taking account of difficulties or challenges and opportunities proposed by the competitive environment. However, the focus of the managerial marketing is on the implementation of particular targets.
Developing a marketing strategy
Typically strategic planning begins with a scan of both internal and external business environment which includes understanding strategic limitations. It is necessary to try to grasp several aspects of the external environment including legal, political, cultural, economic, and technological aspects. Objectives are chosen then a marketing plan or marketing strategy is an explanation of what particular actions will be taken over the time to attain the goals. According to my point of view marketing strategy play a significant role in the development of the company.
Principles of marketing strategy in the digital age
Marketing is the core for every business and everyone struggle to promote his business. You should clarify business objectives as a marketing strategy in the digital age. Use innovation teams to activate, evaluate, and identify emerging opportunities. It is clear that marketing executives need to actively run promotional campaigns, collaborate with product individual, identify business opportunities and monitor the marketplace. It is also important for you to decouple strategy and innovation and build open assets in the marketplace.