Marketing Strategy Development

Every CEO and marketing executive periodically faces urgent strategic marketing challenges that can affect the future of the company for many years. Frequently these decisions are made without having an opportunity to study the situation and make the best possible decision.

Making spur of the moment strategic decisions reduces the likelihood that these decisions are the best.

A better approach is to perform an annual comprehensive review of markets and opportunities, then make long-term strategic decisions without the distractions of day-to-day marketing and sales activities. Daily decisions then fit into the company's overall strategic marketing goals.

It's important for a strategic marketing planning process to look at the company from the customer's point of view by asking questions that have a long time horizon, such as:

• What needs or problems cause customers to consider buying from our company?
• What improvements in the customer's personal or business life can we enable or improve?
• Which customer market segments are attracted to our company or products?
• Which customer motivations or values lead people to decide to purchase our products?
• What changes or trends in our customer base are affecting their general interest or attraction to products like ours?

Strategic vs. Tactical Marketing Plans

What makes a strategic marketing plan different from a more tactical marketing communications plan? The key difference is the focus on meshing overall customer situations with your overall company direction.

How We Use a Strategic Marketing Plan

Once a company's executive team has approved the strategic marketing plan it's time to take the next step -- create the tactical marketing programs and projects needed to implement the plan.

These tactical programs usually include:

• Product Development Plan
• Marketing Communications Plan
• Sales Development Plan
• Customer Service Plan