Principles of Marketing Strategy You Should Know

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When we start designing a marketing plan we must not forget that it has to be realistic, paper supports everything but at the moment of truth, everything is not achievable and we cannot expect things that are difficult to achieve. Today we talk about the strategy that every marketing plan should know:

Analysis of the situation:

Before starting to plan our own strategy it is key that we know the situation in which it is going to develop. If we do not take into account the environment in which we are going to work, it is very difficult for our strategy to succeed.

This stage of analysis includes an internal and an external one. Regarding the internal, we refer to our own resources and capabilities that we have to achieve the objectives. We must analyze aspects related to financing (liquidity, profitability, and financial resources), production (human resources, raw materials, technological and production capacity) and also to the organization of our company (hierarchy, corporate identity, corporate culture).

In the external analysis, we must take into account the economic, social, cultural and of course also political and legal environment.

Objectives:

Once we have analyzed the external and internal environment and we have calculated in the short, medium and long term what may happen is the time to set the objectives. Before proposing any strategy we must know exactly what we want to achieve and we cannot make changes in the objectives once the strategy is underway since we would have to rethink everything from the beginning. The objectives can be tangible or intangible.

The tangible objectives are measurable as a concrete percentage of the increase of sales, taking our product to X more places, achieving the loyalty of a specific number of clients, etc.

The intangible objectives they refer to the improvement of our brand image, the increase in the recognition of our brand and products, etc.

Choice of strategies

Now that we have defined both tangible and intangible objectives, it is time to decide how we are going to achieve them. The way we are going to follow is the strategy. For a strategy to be considered as such, it must have the ability to achieve a competitive advantage, consistency with the objectives, the balance between the resources of our company and the environment.

Timing

Nothing will come to fruition without a well-defined calendar. It will specify the people responsible for each action, the tactics of each strategy, who performs them and when the quantification of resources and when and where they will be allocated.

Forecasts

It’s not just about what we think we’re going to sell. The forecasts we make should include short, medium and long-term forecasts regarding the environment in which we are, the market in which we develop our strategy, the evolution of our competition and also our own company.

Control and evaluation

In order to calculate the real effectiveness of everything we have been doing, it is necessary to evaluate the results each time we go forward to correct, redirect or eliminate aspects that do not help us achieve the objectives set.

Do not forget social networks

With a good social media work, you can have a diffusion and exposure of your content that you would not have imagined before. You can reach people who otherwise probably never would have finished on your website. Take advantage of social networks to organize contests, raffles … ask for a free registration and the prize will be a quality content. Success is assured.

Street Marketing

These are the techniques of advertising creativity used on the street, thus capturing the public in a much more direct and close way. It consists of stands where they offer explanations and free product samples, animations, games for pedestrians to participate, etc.

Engagement Marketing

Consists in connecting with the public and establishing a lasting relationship with it. This way our clients will have a much more positive attitude and will be much more willing to relate to our brand. It is about generating experiences, entertainment, making them enjoy our products and incorporating them as one more to their day today.

By following these marketing strategies your business development chances will become brighter. For more business tips click here.

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