Strategic marketing plan is a method which will help an organization to focus its limited marketing resources on the best opportunities to improve sales and attain a sustainable competitive edge. Marketing, as we all are aware of, is a mix of art and science which has been implemented since the ancient times to promote business and marketing. Marketing is not only a tool to earn profit but it also helps the customer to know and understand the different products and services offered by your business. This article discusses the concept of marketing in depth. It mainly deals with the advantages of strategic marketing plan.
The benefits of a strategic marketing plan can be summarised as follows: First, it helps to bring about a synergy between the marketing, branding, public relations and promotions of the enterprise, and other complementary activities. Second, it helps to reduce costs and improve efficiency. Third, it helps to build brand equity and reputation, thereby enhancing product and service quality and the company’s reputation. Finally, it allows customers to get associated with your organisation, and become familiar with your products and services. When the customer gets associated and understands your products and services, they would definitely want to do business with your company.
The main aim of the strategic marketing planning phase planning process is to provide comprehensive marketing information to the top management of the company, so as to take informed decisions related to business growth, product development and marketing activities, which ultimately leads to increased sales and ultimately, profits for the organisation. The main objectives of the strategic marketing planning phase are to enhance the marketing position and recognition of the company in the market, to sell more products and services, to expand customer base and to enhance the overall performance and reputation of the organisation.
Therefore, the main aim is to improve the overall quality of the company and turn it into a leading enterprise in its domain. In order to reach this level, strategic marketing planning phase planning process requires a thorough market analysis, which enables the organisation to pinpoint the strength and weakness of the organisation, as well as the needs and wants of the users, in order to plan the marketing activities effectively.