It has often been a criticism of marketing planning that there is a failure to plan and act at a strategic level. However, is this not a reflection of the current business context? With so many businesses taking the short-term view to drive business performance, it is perhaps not surprising that fewer businesses have focused on the strategic approach!
Why is marketing strategy important?
Markets can take time to penetrate. Building brand perception and consumer engagement does not happen over night. Thinking and planning strategically creates the framework from which a brand can operate effectively at a tactical level.
Taking your marketing opportunities
With a well thought through strategic marketing approach, the opportunities that are presented in a competitive market place can be quickly capitalised upon as there is a better understanding of where the brand is heading in the long run.
Everyone understanding the marketing approach
Marketing decisions become easier at the tactical level because the long term objectives are well understood. This allows for investment in difficult markets to be sustained even in difficult times because individuals understand the long term benefit.
Gaining support across the business for marketing
By developing a clear approach to marketing and strategic planning, the wider business can better understand the critical part that marketing plays in the long term success of the business and are more likely to support investment in critical marketing campaigns.