PLANNING A MARKETING STRATEGY
A co-ordinated, considered approach is needed to make the most effective use
of resources and budgets available.
Step 1 = Marketing Audit:
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Investigate the current market
Study trends – social, political, economic, cultural and technological.
Look at positioning within the market
Consider the resources available
Step 2 = Marketing Plan:
 Define objectives, targets
 How to measure performance
 Financial budget
Step 3 = Marketing Strategy
 Ways to achieve specific goals discussed and agreed.
 Time frame agreed
 Revise and Update
For a Marketing Strategy to be effective it needs to be intimately bound with
the overall business planning process. It is fundamentally linked to the
corporate strategy and requires endorsement from the top.