Marketing strategy as a concept Essay Example | Topics and Well Written Essays - 1500 words

Marketing strategy as a concept - Essay Example The paper tells that marketing strategy defines the plan of the organization with reference to attracting new customers, expanding the existing market, or taking market lead. It is a comprehensive and succinct plan by the business that entails key details necessary to market the business. Formulating a marketing plan would realize the goal of creating a strong and desirable product reputation in the market. A marketing strategy provides a detailed description of the business in terms of its services or products in the market. A comprehensive marketing strategy that would ensure the targeted market consists of customers who have the highest demand for it. That helps the business to make a great investment in the market. It explains the market position of the business’ products or services and planned strategies for improvement. It outlines the customer profile and details in regards to factors that may affect the demand and services of the business. It outlines the viable tacti cs that the business may use to gain market dominance and customer rating. Among the details that may be applicable to a business is the strategy that the business plans to apply in reaching a new or currently dormant customer segment in the market. It outlines the approaches that the business intends to use in creating awareness of the products and services in the targeted or existing market. Strategic planning may be viewed in terms of strategy as design or plan in which the organization deliberate positioning through a process that involves analysis, rational structuring and attaining a directive.