4.3 Marketing Strategy Mechanics
Learning Objectives
- Identify the inputs to the marketing strategy
- Describe how a marketing strategy optimizes the marketing mix
- Discuss the role of budget, implementation, and evaluation in the marketing strategy
The company strategy and objectives provide direction for the whole company, but they don’t specify how the company will get the most benefit from marketing resources and capabilities. That is the role of the marketing strategy. The marketing strategy defines how the company shapes its product, promotion, pricing, and distribution to provide unique value to its customers and to support the broader company goals.
Throughout this course we will delve more deeply into the strategies, tools, and processes that a marketer uses, but this module emphasizes the planning process itself. How does the marketing function create an effective plan and execute it successfully? That planning process is the focus of this module.
Learning Activities
- Reading: Creating the Marketing Strategy
- Reading: Optimizing the Marketing Mix
- Reading: Implementation and Budget
- Reading: Evaluating Marketing Results