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Marketing Strategy

What is a 'Marketing Strategy'

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The marketing plan is how the business will get across the key message: The marketing strategy may also be absorbed upwards into the corporate value statements and other strategy documents. The value proposition summarizes the competitive advantage a company has in its market. The value proposition usually provides the key message for all marketing.

They start with the value proposition and distill the key marketing message s from that. Once the value proposition is succinctly stated, the hard work is done. Any marketing asset, from a print ad design to a social media campaign, can be judged by how well it communicates the value proposition. To further the efficiency of marketing efforts, market research can be added to the marketing strategy for the purpose of identifying untapped audiences or refining the target consumer.

Finally, an overall goal for the marketing strategy can be set, with all the subsequent marketing plans inheriting the responsibility for delivering on it. These can be concrete, bottom-line goals such as increasing sales or something less direct like climbing the ranking of trusted providers within the industry. Marketing plans are operational documents that get more attention because they are the day-to-day work that a company does to sell itself to the world.

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Marketing is a very diverse industry. At its core, marketing is any activity of a company associated with buying or selling a project or service. Marketing professionals can work for large or small companies as in-house marketing professionals or, work for one of the thousands of marketing companies nationwide.

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Marketing is based on thinking about the business in terms of customer needs and their satisfaction. Marketing differs from selling because (in the words of Harvard Business School's retired professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product.

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Marketing refers to the activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in companies' marketing departments try to get the attention of target audiences using slogans, packaging design, celebrity endorsements and general media exposure. In terms of men's shirts, for example, it is the range of prices, styles, colors, patterns, and materials that is available for customer selection. 2. (retailing definition) The range of choice among substitute characteristics of a given type of article. 3.