Any business when operating in one or more specific fields needs to build for themselves the most perfect and optimal marketing strategy. And planning a marketing strategy is a prerequisite for the development of the business. They will help you understand the importance and process of successful marketing strategy planning in the following article.
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What is strategic marketing planning?
Planning marketing strategies or Planning marketing strategies is a way that businesses build Marketing strategies and specifically identify marketing measures to enter the target markets that have been given in the plan. Strategic planning is considered an extremely important function performed by the top leaders of the business. Any business needs to implement marketing strategy planning to meet the needs of each target market segment that it chooses.
The importance of planning a marketing strategy
Planning a marketing strategy is always a necessary job done by any business operating in the market. This plays a decisive role in the existence of the business, specifically:
- Planning a marketing strategy is the most basic condition of a business because it helps businesses constantly update and keep up with the trends in the constantly changing market.
- In addition, with strategic marketing planning, businesses will quickly propose solutions to combat problems and risks that may occur in the course of business operations and open up development opportunities for businesses. Future.
- Planning a marketing strategy will provide strategic directions, specific goals and directions of the business in the future for all departments and members of the business.
- Strategic planning is not only a basis for managers to control and evaluate management, but also helps to open up many successful opportunities for organizations and businesses.
What are the types of strategic planning?
Planning strategies is the most important function of the management process because it is the guiding basis for the remaining functions of the process. Within organizations, strategic planning is divided into five categories:
Planning Marketing Strategy
Planning Marketing Strategies is the process of formulating a Marketing strategy and determining specific measures to enter the target market of the business. The purpose of planning is to establish, maintain and develop business units and products of the enterprise in order to generate profits.
Planning PR strategy
Planning PR strategies is a process of stating the goals that the business wants to achieve; the means and resources required to accomplish that goal; roadmap and implementation steps in each implementation content and solution.
Sales strategy planning
Planning sales strategies is an important part of a business’s sales strategy. A suitable sales strategy will answer questions such as: What products do you focus on selling? How do you sell products? What tools do you use to sell products?
Business strategy planning
Business strategic planning is the management process used to create a long-term plan for the future of the business. Organizations use this process to define goals, the strategies needed to accomplish those goals, and use an internal performance management system to monitor and evaluate work progress.
Planning HR strategy
Planning HR strategies is the work of setting goals and plans to implement. These plans include human resource policies and activities designed for specific workgroups to meet and deliver strategic goals and ensure job performance.
Marketing strategy planning process
To plan a marketing strategy that brings benefits and high probability of success to your business, you should follow the following step-by-step process.
Step 1: Determine the marketing strategy for each market
The first thing that businesses need to do is determine a marketing strategy for each market segment. In particular, focus should be on determining the brand positioning strategy for the target market that the business has chosen.
Positioning is both an objective and an effective direction for a business’s marketing activities. Implementing brand positioning will help create a difference and a unique image for products. This is also an important knowledge for businesses to attract attention to customers.
Step 2: Develop a marketing strategy
The process of formulating and developing a marketing strategy is a cyclical process of setting goals and making marketing strategy assessments with the aim of realizing the goals outlined in the strategy. The marketing goals of each business are different, but in general the goals can be increased sales, increased brand awareness or brand positioning.
Step 3: Allocate resources
Marketing strategies are the solution to make recommendations for allocating resources to support SBU’s business activities to the top of the business. In the process of planning a marketing strategy, businesses need to provide the most detailed information about resources as well as budget related to revenue, market, invested capital or profit projections.
Step 4: Evaluate effectiveness
Conducting a marketing strategic planning assessment is essential because it will help businesses see deviations in the work process or other problems that arise. From there, businesses can promptly change their goals and come up with measures to adjust and revise strategies quickly and effectively.
Factors to keep in mind when planning a marketing strategy
When implementing marketing strategy planning, you need to note a few factors below to achieve the highest work efficiency and avoid unwanted errors.
Strategy building requires creativity
Building a marketing strategy plan is not only a series of tasks done in a predetermined order, but it is also a series of activities that need to be creative. Most people have to experiment, adapt and change strategies in the planning process from concluding and correcting mistakes to getting the best strategy.
An emergent strategy is a type of marketing strategy planning strategy that is shown out over a certain period of time. Because it is not possible to guarantee that the planned strategies will carry out all activities in the correct order. Therefore, it is essential that strategies arise from creative ideas in the organization.
Relevancy between parts
In addition to the participation of the top management, the planning of marketing strategies is necessary to have linkages between other departments related to the strategy. This connection will open up the ability to understand the challenges of the members of the organization and increase the connection for all parts of the business.
It can be seen that planning a Marketing strategy is an important job that needs to be done to ensure the ability to bring the greatest benefits to the business. Through the article that Bizfly shared, you have an overview of the relevant knowledge to build and develop a comprehensive marketing strategy.
- What is marketing strategy planning?
- Planning a marketing strategy for the product
- Chapter 2: planning a marketing strategy
- Planning marketing strategy of Coca Cola
- Content of strategic planning
- Tasks of strategic planning