Marketing strategy is a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives.
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Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives.  Plans and objectives are generally tested for measurable results. Commonly, marketing strategies are developed as multi-year plans, with a tactical plan detailing specific actions to be accomplished in the current year.

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At Angels & Demons, we know that marketing strategies are dynamic and interactive. They are partially planned and partially unplanned due in part to consumer base and economic function.  Marketing strategy needs to take a long term view, and tools such as customer lifetime value models can be very powerful in helping to simulate the effects of strategy on acquisition, revenue per customer and churn rate.

 

We also know that marketing strategy involves careful scanning of the internal and external environments.  Internal environmental factors include the marketing mix and marketing mix modeling, plus performance analysis and strategic constraints.   External environmental factors include customer analysis, competitor analysis, & target market analysis, as well as evaluation of any elements of the technological, economic, cultural or political/legal environment likely to impact success.  A key component of marketing strategy is often to keep marketing in line with a company's overarching mission statement.

 

Once a thorough environmental scan is complete, a strategic plan can be constructed to identify business alternatives, establish challenging goals, determine the optimal marketing mix to attain these goals, and detail implementation.