Destination. Focus. Knowledge. Product. Perception.   Research suggests that some 50% of businesses do not have a documented marketing strategy. Many businesses have no marketing strategy, while others have a strategy that resides in the heads of management, a small section of the business plan or a bunch of notes that allows. For me, there are three […]

Destination. Focus. Knowledge. Product. Perception.   Research suggests that some 50% of businesses do not have a documented marketing strategy. Many businesses have no marketing strategy, while others have a strategy that resides in the heads of management, a small section of the business plan or a bunch of notes that allows. For me, there are three critical questions here; what is a marketing strategy? why is a marketing strategy necessary? and what are the characteristics of the optimum marketing strategy? A MARKETING STRATEGY Investopedia defines a marketing strategy as follows: “… 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 customerdemographics, and other high-level elements. A thorough marketing strategy covers “the four Ps” of marketing—product, price, place, and promotion.”   I would have thought that this definition was as good…