Transcript Selecting a Marketing Strategy

Selecting a Marketing Strategy
Before determining its marketing strategy the firm ought to consider:
Overall company objectives. Marketing strategy needs to fit in with the direction the
company wishes to go.
The firm’s position and the state of the market. A SWOT analysis is a useful tool.
What resources are available.
There is no perfect marketing strategy. The key is that the firm develops its strengths
and tries to eliminate its weaknesses (whilst still taking account of opportunities and
threats which may arise).
In short, the marketing strategy should match a firm’s internal strengths and external
market opportunities. It must also be S.M.A.R.T.