Ch-1: Introduction
1.1.
Introduction
Marketing strategy is an organizational strategy
that combines all of its marketing goals into one comprehensive plan. Marketing
strategy is basically a process that can allow an organization to concentrate
its resources on the optimal opportunities with the aims of increasing sales
and gaining a sustainable competitive merit. Marketing strategy includes all
long term and basic activities in the field of marketing that deals with
testing the expertise of strategic initial situation of a company.
Marketing strategy is a heart of marketing plan.
Marketing plan is product specific, market specific, or company wide plan that
describes activities involved in achieving specific marketing objectives with
in a set time frame. A market plan begins with the identification (through
market research) of specific customer needs and how the firm intends to fulfill
them while generation an acceptable level of return. It generally includes
analysis of the current market situation (opportunity and trends) and detailed
action programs, budgets, sales forecasts, strategies, and projected financial
statement.
