AboutLeo Lingham Expertise I can answer questions on marketing, marketing planning,
product management, advertising, sales promotions, sales planning,
merchandising, direct marketing, and sales management.
Experience 18 YEARS WORKING MANAGEMENT EXPERIENCE IN BUSINESS PLANNING,
STRATEGIC PLANNING, MARKETING, SALES MANAGEMENT, AND ORGANIZATION DEVELOPMENT.
PLUS
24 YEARS OF MANAGEMENT CONSULTING IN STRATEGIC PLANNING,
BUSINESS PLANNING, PRODUCT MANAGEMENT, MANAGEMENT TRAINING,
AND BUSINESS COACHING.
Expert: Leo Lingham Date: 5/17/2008 Subject: Marketing Plan and Marketing Strategy
Question Dear Leo,
Is there any difference between "Marketing Plan" and "Marketing Strategy?
Answer NG'WANDU,
HERE IS SOME USEFUL MATERIAL.
REGARDS
LEO LINGHAM
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MARKETING STRATEGY.
A marketing strategy consists of an internally integrated but externally focused set of
choices about how the organization addresses its customers in the context of
a competitive environment. A strategy has five elements:
1.it deals with where the organization plans to be active;
2.how it will get there;
3.how it will succeed in the marketplace;
4.what the speed and sequence of moves will be; and
5.how the organization will obtain profits .
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Marketing Strategy is the outcome of marketing mix elements.
The marketing strategy is usually built around
the 4Ps
P1=PRODUCT
P2=PRICE
P3=PROMOTIONS
P4=PLACE [ SALES/DISTRIBUTION]
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The marketing strategy must respond to the nature
of the product / market situation.
The marketer would use different weightages for the 4Ps
as per the situations.
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EXAMPLES OF MARKETING STRATEGY
marketing strategy based on scope/strength- COST LEADERSHIP
marketing strategy based on scope/strength- PRODUCT DIFFERENTIATION
marketing strategy based on scope/strength-MARKET SEGMENTATION
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OUTLINE FOR A MARKETING PLAN
12.CONTINGENCY PLANNING.
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FROM THE ABOVE ANALYSIS,
YOU WILL SEE THAT THE
MARKETING STRATEGY IS AN ELEMENT
OF THE TOTAL MARKETING PLAN.
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