5. Why do you want to spend time in defining a marketing strategy?

Your marketing strategy is a comprehensive plan devised to achieve your marketing objectives for the company. This will guide you on how and to whom you are going to sell products and services. It helps you to define where you are going to allocate scarce resources.

So why do you want to define such a strategy?

  • It helps you to define your competitive edge.
  • It helps to define where and how you can make the most profit from your products and services.
  • It helps you to define how you will deliver solutions to satisfy your customer’s needs.
  • It helps you identify and review new markets.
  • It helps in defining your pricing strategy.
  • It helps with the optimal allocation of scarce resources.

In short, it helps to define how you are going to be profitable and successful.

I n my view, these are good enough reasons to spend some time in developing a marketing strategy!

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