How to Develop Marketing Strategy

by Business Editor; Updated September 26, 2017
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How to Develop Marketing Strategy. A carefully planned marketing strategy provides continuous benefits to a company. Though some business owners choose to rely solely on their intuition to make decisions, a fact-based approach will better allow you to define your goals and strategies and achieve the marketing results you desire.

Step 1

Describe your organization's unique selling proposition or differentiation. More than anyone else, you should be able to state what sets your business apart from competitors.

Step 2

Define your company's target market. Doing so takes into account information you have about the type of person likely to utilize your products or services. Usually demographically based, target markets can include information about age, gender, income, location, education and more.

Step 3

Describe the benefits of your products and services, and the value they bring to consumers.

Step 4

Create a solid marketing budget.

Step 5

Write down ideas for how you plan to position your products or services in the marketplace.

Step 6

Define the types of marketing that will best fit your plan. Options include advertising, Internet marketing, direct mail, public relations and other promotional means.

Tips

  • Reevaluate marketing strategy each quarter as sales numbers and other financial reports become available.