What Is a Marketing Strategy?
A marketing strategy refers to a business's overall game plan for reaching prospective consumers and turning them into customers of their products or services. A marketing strategy contains the company’s value proposition, key brand messaging, data on target customer demographics, and other high-level elements.
​
A thorough marketing strategy covers "the four Ps" of marketing: product, price, place, and promotion.
Key Takeaways
-
​A marketing strategy is a business's game plan for reaching prospective consumers and turning them into customers of their products or services.
​​
-
Marketing strategies should revolve around a company's value proposition.
​​
-
The ultimate goal of a marketing strategy is to achieve and communicate a sustainable competitive advantage over rival companies.
The Creation of Marketing Strategy
The ultimate goal of a marketing strategy is to achieve and communicate a sustainable
competitive advantage over rival companies by understanding the needs and wants of its consumers.
​
Whether it's a print ad design, mass customization, or a social media campaign, a marketing asset can be judged based on how effectively it communicates a company's core value proposition.
​
Market research can help chart the efficacy of a given campaign and identify untapped audiences to achieve bottom-line goals and increase sales.
​