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Managerial Approach to Marketing - Marketing Philosophy andStrategy
Marketing Philosophy and Strategy
As a marketing manager I understand that there are few tools of trade in my field.
Why one should develop a marketing plan?
Marketing plan contains information about your company’s marketing objectives andstrategies. It’s a written document which guides marketing managers over life of theproduct and its marketing to consumers. Not to say that marketing managers do not knowhow to market, but writing it down not only helps marketing manager focus, but also keepsthe entire team on the same page. Most often many players in a team might not understandmeaning of “showing benefits to customers” while written document can explain that thismeans customers buy benefits not products.One should also update the marketing plan on regular basis as few years old strategy mightnot be same or valid this year. Marketing plan also helps new partnership understands whatis your plan and how can they help, without a plan it will be very hard for one marketingmanager explain what he or she was thinking and to check if the team is on plan. Thewritten plan also helps you identify if you are still on the course or we have moved awayfrom what we once wrote down. Marketing companies are always in search for new comersand a good written marketing plan can bring someone up to speed of how your organizationplan to market its products to consumers.
Different components used in a marketing plan / strategy.
The key for successful marketing is to first understand what makes someone / consumerswant to use or buy services and what type of marketing strategy they respond to. We firstneed to understand customers see benefit in some products and then they buy thoseproducts. They are after what will benefit them, not how cool the product is and what typeof technology is used. So we need to show off the benefits to consumers and see theirreaction to that. Marketing strategies can include by not limited to networking with
 
Managerial Approach to Marketing - Marketing Philosophy andStrategy
customers, potential buyers, involve in direct marketing, sending out sales letters,brochures, flyers etc. Send out or publish press release for the new product or service.Advertise in newspapers or TV, or join the web marketing to reach out to millions of possibleviewers to your ad about the new product or service.Marketing strategies can work or fail, so we as marketing managers need to understand weare able to point out which strategy worked and which failed, keep repeating the one thatworked and drop the one that did not work.
Now its time to discuss how our marketing plan and our marketing strategy canwork together or how does it fit together?
As we discussed before, a good marketing plan that is approved by the team and leadmarketing managers helps us develop a marketing strategy. As we learned marketingstrategy includes but not limited to, networking, press release, direct mail, trade shows, it isuseless if we do not have a good marketing plan written down. For example, if we are inbusiness to promoting a new networking web site such as Facebook.com or MySpace.com,should we be part of direct mail or trade shows, most likely no, we need to reach out tostudents and younger populations either by hosting our presentation at Starbucks café or atcolleges. However, if we are launching a new MS Office suite “Office XX”, we cannot justreach to students; we need trade shows, press releases, online seminars, etc.Marketing plan cannot be put in process unless it’s written down and understood by theteam members, marketing strategies cannot start working unless we have a good plan. Wecannot get customers unless we are able to show consumers the benefit they will get byusing our products. Each task we do needs to be done in order to be successful atmarketing and at our business.
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