What types of marketing strategies are available for business? Before we get to the types of strategies, we need to define what the definition of a marketing strategy is.
The most straight forward definition of a marketing strategy I have founds is this one: “A plan of action designed to promote and sell a product or service”.
This definition lays to rests the old debate of whether marketing is responsible for sales. The answer is yes.
The big difference between marketing is sales is the time line.
McGraw and Hill had a B2B advertisement called the man in the chair. Their closing slogan read; sales start before your salesman calls – with business publication.
Marketing is now responsible for a lot more compared to a couple of years ago. Back then businesses relied heavily on sales people to give them information about products and services. Today; there is YouTube; and the internet. People are more informed than ever before. This means long before a person buys they start searching and gathering information. This was the job of the sales person.
Marketing is responsible for supporting sales. Sales people should only talk to people who are 80% of the way there. When you are the only real option on the table. Then marketing did their job well.
Marketing is an an overnight thing. It is a consistent effort. Most companies are not consistent enough with their marketing.
There is also a big difference between strategy and tactics. Many people get confused with the 2. An easy definition between the two; strategy and tactics is often described as “strategy is long-term and tactics are short-term.
There is more to this that just the time line.
A strategy is the overall plan and big goals. For instance. if you are planning a holiday; your destination and when you will arrive is your strategic goal.
How you will get there is your strategic plan. This can be via a car; walking; flying, etc.
The actions you take; putting in petrol; pumping tires, taking the car for check before going on holiday are all tactics.
If you embark on your travel and there is an accident on the highway; do you change your destination? No you do not. You change your strategic plan a little by adjusting your tactics (ie taking another route).
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