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Why is having a marketing strategy important?

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An effective marketing approach is plan for achieving a company’s goals by analyzing the needs of its customers and establishing a distinct and durable competitive advantage. It includes everything from determining the demographics of your clients to deciding on the channels you utilize to reach them.

With a strategy for marketing, you can define how your company positions itself in the market, the types of products you produce, the strategic partners that you have, and the kind of advertising and promotion you undertake.

An effective marketing plan is essential to the growth of any business. Read on to learn how you can create a winning marketing strategy for your organization.

Key key

Marketing isn’t just about promotion and advertising. It’s all about making contact with the client.

A marketing strategy sets the course for your marketing-related products and activities.

Having a marketing strategy helps keep all your activities on the right track.

Making a strategy for marketing involves setting goals, conducting research on the market, developing product plans and defining your marketing strategies, and following the “7 P’s.”

Understanding marketing

Before we dive into the ins and outs of marketing strategy, you need to have a solid understanding of what exactly marketing is – and also what it isn’t.

Is marketing a thing?

Marketing is about connecting your business to potential customers and connecting those customers with your products. It is about understanding the needs of customers then translating those needs into services and products, packing and pricing those products and services, and then convincing customers to purchase those products and services.

To put it simply marketing is the complete process of identifying potential customers to meeting their requirements with the goods you produce.

What does marketing mean?

Marketing isn’t just about advertising or public relations or the creation of a website or email marketing campaign. It’s about everything that leads up to those actions to aid your customers and your sales staff. It, ideally, drives the whole business and dictates what products you produce and how you distribute these.

What are the elements of an effective marketing plan?

A marketing strategy determines the general direction – but not specific details – for different marketing-related tasks. Ideally, your marketing strategy will help you determine the following goals for your company:

Target audience

Value proposition

Product mix

Brand messaging

Initiatives to promote

Marketing content

What is the reason why having a marketing strategy crucial?

The process of creating and following your own marketing plan is crucial in establishing the direction, not only for your marketing initiatives, but for your entire business. A marketing strategy can help you keep up with your client base, create the appropriate products for them , and also determine how you communicate information about the products.

Without a clear strategy, you’ll never know which customers you’re targeting or develop appropriate products, and you’ll end up wasting money promoting them.

In short, having a defined marketing strategy can help you be more successful. According to an CoSchedule survey, companies who have a well-defined marketing strategy are 33 percent more likely to be successful than those who don’t.

How do you create a successful marketing plan

There are many steps you need to take to create a robust marketing plan for your business.

Set definable business goals

The vision and goals of your company are the guiding factors for the marketing plan you have in place. These goals are what determine the goals of your marketing, which your marketing strategy will serve to support.

The goals you set for your marketing are built on the company’s goals. You might set a goal to gain a specific market share, control any particular channel, or even attain a specific percentage of some type of consumer. Your objectives should be attainable and measurable.

Identify and research the target marketplace

The goals you choose to set will help you define the target market you want to target. This is why you need to be familiar with the clients within this market, which requires some degree of market research and analysis. You will need to know the following about the target market and the customers it serves:

Size of the market and potential for growth

Market trends


Characteristics of geography and demographics

Customer behavior

Concentrate on the 7 P’s

While you design your marketing strategy, you should focus on the traditional 7 principles of marketing

Product – how you satisfy the demands of the customer

Price – what price customers are willing to spend for your product

Promotion – which channels do you employ to inform clients about your product

The location where you offer your product

People – individuals who help promote your product to consumers

Packaging How you present your product the buyer

Process is the method you use to deliver your product to your customers

Develop product plans

When you know your ideal clients, you can figure out which products are best suited to their needs. If you are aware of what customers want, you can build the right product for that customer.

Making the product falls outside the parameters that the department of marketing is in charge, obviously, as does producing the product. But marketing should have an active and prominent decision-making role regarding the product’s features, pricing and packaging, as determined by customer requirements and the indicators.

Recognize the most important benefits

The most successful marketers are aware that customers don’t make decisions based on the features of a new product but rather how that product can benefit them. It’s crucial to understand what are the primary benefits of products you design and the best way to ensure that your product will meet the customer’s needs or requirements.

Many products that don’t succeed have attractive attributes, but unless they translate into benefits, consumers don’t notice. It’s not a matter of “if you build it the customers will come,” it’s a matter of meeting your customers requirements.

Create your messaging and positioning

Product positioning should build on the benefits of a product and how it meets the needs of the intended customer. You have to deeply understand what your customers value and place your product in line with their needs.

This is carried over into any messaging that surrounds the product. The company’s position could be the most appropriate for meeting a particular requirement – but the message communicates this position in a concise, clear and attention-getting fashion.

Then define your marketing strategy

Finally, your marketing strategy will determine the best way to reach the people you want to reach – which channels and activities you include as part of your overall marketing plan. It could include traditional channels like radio, print and television in addition to social media channels, digital channels and mobile applications.