Strategic Marketing Process
A Better Approach to Marketing
Marketing is part 'art', part 'science'.
To get the most out of Marketing, you can't ignore the fundamentals.
It's not just about being creative.
Strategic Marketing deals with key questions such as:
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To get the best results, Marketing should follow a structured, comprehensive process to make sure that nothing gets overlooked. The Marketing Process follows these steps:
Situational Analysis
- Internal Analysis
An objective review and analysis of your company's capabilities, strengths, weaknesses, and competitive advantages. Brand awareness, market share, financial resources, and your goals and objectives are also considered. - External Analysis
A thorough look at customers, competitors, partners, suppliers and the economic climate. Review significant trends and their impact on your business. Identify opportunities in the market and potential threats.
Marketing Strategy
- Segmentation
Selecting the right market segments is critical to your success. The advantages and disadvantages of each segment to your business need to be evaluated carefully. Who are your most and least profitable customers segments? Why? - Targeting
Targeting is about going after only those market segments that offer the best opportunities for your company. On the flip side, there will be segments you're not going to pursue. This could mean exiting some markets that you're currently in. - Positioning and Value Proposition
Why should customers buy from you? How are you different, "better, faster, cheaper" than the competition? It is important to develop a clear positioning and compelling Value Proposition to stand out from the crowd.
Once you've taken care of the fundamentals, you can start on the implementation: the Marketing Mix.
Get Serious About Marketing
If you are tired of ineffective marketing campaigns that show poor results, contact us to learn more about how a strategic, structured approach to marketing can improve your ROI.
