Whether you are a small business or a big organization, forming a marketing strategy is essential. It gives you a clear understanding about what you plan to achieve though your marketing plan and how you plan to achieve it.
Without forming a marketing plan you may spend on different methods of marketing but you will not see the proportional returns in the form of sales or whatever it is your marketing plan is supposed to do. Without a marketing plan you are shooting at a target in the dark.
What does a marketing plan or marketing strategy consists of?
Well, a marketing plan is made up of two parts:
- Identifying and choosing a “target market”
- Deciding various aspects of the “marketing mix”