What's the difference between a marketing strategy and a marketing plan?
Marketing Strategy and a Marketing Plan
- Thread starter chrislittle09
- Start date
A marketing strategy is one of the 3 generic strategies - i.e. low cost, value added and niche.
A marketing plan defines the tactics you plan to use to align your activities with your marketing strategy.
The 4Ps (6 Ps for services) PEST analysis etc are all marketing techniques you would use when creating a marketing plan.
A marketing plan defines the tactics you plan to use to align your activities with your marketing strategy.
The 4Ps (6 Ps for services) PEST analysis etc are all marketing techniques you would use when creating a marketing plan.
H
highlander
Guest
The 4 Ps of the Marketing Mix:
Product
Price
Promotion
Place
1. The product either needs to be original or use an existing idea and need a bag full of cash to pump into it/force the idea to work.
2. Price must be realistic eg: that its affordable to majority and so to avoid pricing oneself out of the market. Too low, wont make enough profit, too high, nobody will buy.
3. Promotion - better opt for 100% targeting. The aim is to get the company name out there, and spend as little as possible doing it. Alas, its impossible to do this for free, as everything costs - but there are ways to significantly reduce the costs.
4. Place is concerned with distribution of the product. Less so for web businesses.
Product
Price
Promotion
Place
1. The product either needs to be original or use an existing idea and need a bag full of cash to pump into it/force the idea to work.
2. Price must be realistic eg: that its affordable to majority and so to avoid pricing oneself out of the market. Too low, wont make enough profit, too high, nobody will buy.
3. Promotion - better opt for 100% targeting. The aim is to get the company name out there, and spend as little as possible doing it. Alas, its impossible to do this for free, as everything costs - but there are ways to significantly reduce the costs.
4. Place is concerned with distribution of the product. Less so for web businesses.
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Information are really good. Nice job.
probably he wants to promote something...
I metioned the 6 Ps - Highlander kindly stated the 4Ps in the marketing mix for products but if you operate within the service industry then the marketing mix becomes the 6Ps.
The two additional Ps are 'People' and 'Process'. This means any service business needs to consider how the people and the processes that the business employs to provide a service must be considered.
Another element of any marketing plan is the definition of the marketing environment. PEST analysis is used for this.
P=Political Factors
E=Economic Factors
S=Soclal Factors
T= Technological Factors
These are all the things that define the marketing environment. This gives you a framework to examine marketing opportunities and threats. For example the rise of new technology may give rise to marketing opportunities. Political unrest may result in a marketing threat. Then again, new legislation can give rise to threats and opportunities.
The two additional Ps are 'People' and 'Process'. This means any service business needs to consider how the people and the processes that the business employs to provide a service must be considered.
Another element of any marketing plan is the definition of the marketing environment. PEST analysis is used for this.
P=Political Factors
E=Economic Factors
S=Soclal Factors
T= Technological Factors
These are all the things that define the marketing environment. This gives you a framework to examine marketing opportunities and threats. For example the rise of new technology may give rise to marketing opportunities. Political unrest may result in a marketing threat. Then again, new legislation can give rise to threats and opportunities.
This is nothing to do with this thread and is blatant spam. Please 'do one' and stop clogging up threads that people are trying to read to find genuinely useful information.
Not sure I agree. Strategy is about setting objectives. A plan defines how you go about achieving your abojectives defined by your strategy.
Strategic Planning = Define objectives, long term
Tactical Planning = Plan how to achieve stated objectives, medium term
Operational Planning - Plan how best to go about day-to-day operation, short term
Strategic Planning = Define objectives, long term
Tactical Planning = Plan how to achieve stated objectives, medium term
Operational Planning - Plan how best to go about day-to-day operation, short term
What's the difference between a marketing strategy and a marketing plan?
Did a double post and can't find the delete button. Admin pls help me to delete this post.Thanks.
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What's the difference between a marketing strategy and a marketing plan?
Marketing strategy in a nutshell is an approach to accomplishing the objectives of a marketing plan.
