effective marketing its not just tactics
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Unsure what the difference is between a marketing strategy and a marketing tactic? The answer is here.TRANSCRIPT
Effective Marketing: It’s Not Just Tactics
What is the strategy for reaching your goals?
2009 Copyright Marketing Pathways, Inc.
Strategic Thinking. Creative Ideas. Results.
What is Marketing?
Business leaders everywhere define it differently.
Many presidents of large businesses do not understand the full scope.
Strategic Thinking. Creative Ideas. Results.
Here is what the pros say…
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
(Approved by the American Marketing Association- October 2007)
Strategic Thinking. Creative Ideas. Results.
Components of Marketing
Sales Advertising Public Relations Market Research Direct Marketing Social/Media/Viral Many more!
Strategic Thinking. Creative Ideas. Results.
Planning is important!
Do you have a marketing plan? You should. Before you start, you need to understand the
primary concepts used to develop the plan. Strategy vs. Tactic- What are they and is
there a difference?
Strategic Thinking. Creative Ideas. Results.
Chain of Events in the development of a marketing plan.
Strategic Thinking. Creative Ideas. Results.
Why are we discussing these concepts- Strategy and Tactics?
To be sure we are focusing on and discussing the right types of activities.
Eliminate any misunderstanding. At times, marketing professionals get them confused.
Strategic Thinking. Creative Ideas. Results.
Strategy
Strategy: the set of decisions made to best ensure achievement of the desired objectives, based on an assessment of ones own situation, capabilities and shortcomings, and competitive position.
Marketing Strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.
Strategic Thinking. Creative Ideas. Results.
Tactics
Tactics: the set of actions taken to fulfill a strategy.
The “doing” part of marketing.
Strategic Thinking. Creative Ideas. Results.
Strategy vs. Tactic
We find that our existing customers have the greatest potential for increasing our sales.
Is it a Strategy or Tactic?
Strategic Thinking. Creative Ideas. Results.
Answer
Strategy
This was most likely determined through Market Research.
Strategic Thinking. Creative Ideas. Results.
Strategy vs. Tactic
Our greatest business opportunity is selling our product to those individuals that are in the UK, India and Russia.
Is it a Strategy or Tactic?
Strategic Thinking. Creative Ideas. Results.
Answer
Strategy
Once again, some type of research led them to believe that this was where the opportunity would be.
Strategic Thinking. Creative Ideas. Results.
Strategy vs. Tactic
We will email our prospects twice monthly-once with a newsletter and the second time with a circular.
Is it a Strategy or Tactic?
Strategic Thinking. Creative Ideas. Results.
Answer
Tactic
A specific answer for reaching their market to generate leads.
Strategic Thinking. Creative Ideas. Results.
Strategy vs. Tactic
Our newest product, based on research of our primary target market-small business presidents, will be rolled out in October to take advantage of the upcoming holiday.
Is it a Strategy or Tactic?
Strategic Thinking. Creative Ideas. Results.
Answer
Strategy
Planning and understanding their market helps identify a new product and the timing for the roll-out.
Strategic Thinking. Creative Ideas. Results.
Strategy vs. Tactic
PR, advertising, direct marketing, and internet marketing will all be used to reach our target market. Specifically, we will send out press releases to all major trade journals, advertise in 10 of them, send out emails to our entire list of current clients, and have a special web page developed for this new product.
Is it a Strategy or Tactic?
Strategic Thinking. Creative Ideas. Results.
Answer
Both- Strategy-PR, advertising, direct marketing,
and internet marketing will all be used to reach our target market.
- Tactic- Specifically, we will send out press releases to all major trade journals, advertise in 10 of them, send out emails to our entire list of current clients, and have a special web page developed for this new product.
Strategic Thinking. Creative Ideas. Results.
Two of the most important concepts in a marketing plan.
Have we fully developed our Strategy so that we can select the right Tactics?
You need to have both to reach your goals. Understanding strategy and tactics are a key
element in determining the
“effective” ways for you to
market your business.
Strategic Thinking. Creative Ideas. Results.
Cindy Neky
Marketing Pathways, Inc.
www.marketingpathways.com
2009 Copyright Marketing Pathways, Inc.