An Effective Marketing Strategy

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Effective marketing focuses on organizations energies and resources on a course of action which leads to profitability and dominance of a targeted market niche. It is therefore most effective when it is an integral element of overall firm policy, by defining how the organization will successfully engage customers, prospects and competitors in the market arena.

Marketing strategy determines the choice of target market segment, positions and allocation of resources. It combines product development, promotion, distribution, pricing and relationship management.

TACTICS AND ACTIONS OF MARKETING EFFECTIVELY

o This serves as the basis of a marketing arrangement which contains a set of specific actions required to effectively execute a marketing strategy.

o A strategy consists of well thought out series of procedures to make a marketing plan more effective. They serve as the elementary underpinning of marketing plans intended to fill market needs and arrive at marketing objectives.

o A marketing strategy often incorporates an organizations goals, policies and action sequences (tactics) into a cohesive whole. You can cascade an approach through an organization by creating strategy plans that then become strategy goals for the next level.

Real life marketing revolves around common sense, dealing with a limited number of factors in an environment of imperfect information and limited resources complicated by uncertainty and tight time scales, marketing managers use instincts and experience to analyze and handle the complex and unique situations being faced without easy reference from theory. A marketing strategy should therefore be centered on the key concept that customer satisfaction is the main goal.

Stephen is an business management expert. He researches and studies on Principles of Sound Business Strategies. Website: Business Management Secrets for efficient business operations.