This definition puts a number of concepts together, which are worth examining one at a time.
First, all decisions link back to a common communication objective or goal. This can be something like ‘build awareness from a to b;’ or ‘increase traffic by z%;” among others. The goal ensures that all the strategies are focused on delivering the same outcome.
Second, decisions need to be made around what to sell (products), where to sell them (markets), how to sell them (marketing activities), and how much to spend (resources).
Finally, it comes to communication – how do you solve their problem in a unique and valuable way? Customers need to understand the value you offer and how it is different from the competition. A clear, simple message performs best.
We always say that the marketing strategy is the engine of the business model. Just as a car wouldn’t go far without an engine, neither will a business model without a marketing plan.
Plus, other experts agree: “Marketing strategy provides an organization an edge over its competitors”ii