Marketing strategy 

is a long-term, forward-looking approach and an overall game plan of any

organization or any business with the fundamental goal of achieving a sustainable competitive
advantage by understanding the needs and wants of customers.[1]
Scholars like Philip Kotler continue to debate the precise meaning of marketing strategy.
Consequently, the literature offers many different definitions. On close examination, however, these
definitions appear to centre around the notion that strategy refers to a broad statement of what is to
be achieved.
Strategic planning involves an analysis of the company's strategic initial situation prior to the
formulation, evaluation and selection of market-oriented competitive position that contributes to the
company's goals and marketing objectives.[2]
Strategic marketing, as a distinct field of study emerged in the 1970s and 80s, and built on strategic
management that preceded it. Marketing strategy highlights the role of marketing as a link between
the organization and its customers.

Contents

 1Definitions
 2Marketing management versus marketing strategy
 3Brief history of strategic marketing
 4Strategic marketing planning: An overview
 5Strategic analysis: tools and techniques
o 5.1Brief description of gap analysis
o 5.2Brief description of Category/Brand Development Index
o 5.3Brief description of PEST analysis
o 5.4Brief description of SWOT analysis
 6Developing the vision and mission
 7Developing the generic competitive strategy
o 7.1Porter and the positioning school: approach to strategy formulation
o 7.2Resource-based view (RBV)
o 7.3Other approaches
 7.3.1Growth strategies
 7.3.2Market position and strategy
 7.3.3Entry strategies
 7.3.3.1Pioneers
 7.3.3.2Close followers
 7.3.3.3Late Entrants
 8Developing marketing goals and objectives
 9Strategy typologies
o 9.1Raymond Miles' strategy categories
o 9.2Marketing strategy
 10Relationship between the marketing strategy and the marketing mix
 11See also
 12References
 13Further reading
 14External links
Definitions[edit]
"The marketing strategy lays out target markets and the value proposition that will be offered
based on an analysis of the best market opportunities." (Philip Kotler & Kevin Keller,
Marketing Management, Pearson, 14th Edition)
“An over-riding directional concept that sets out the planned path.” (David Aaker and Michael
K. Mills, Strategic Market Management, 2001, p. 11)
"Essentially a formula for how a business is going to compete, what its goals should be and
what policies will be needed to carry out these goals." (Michael Porter, Competitive Strategy:
Techniques for Analyzing Industries and Competitors , NY, Free Press, 1980)
"The pattern of major objectives, purposes and goals and essential policies and plans for
achieving those goals, stated in such a way as to define what business the company is in or
is to be in. (S. Jain, Marketing Planning and Strategy, 1993)
"An explicit guide to future Behaviour.” (Henry Mintzberg, “ Crafting Strategy,” Harvard
Business Review, July–August, 1987 pp. 66–74)
Strategy is "reserved for actions aimed directly at altering the strengths of the enterprise
relative to that of its competitors... Perfect strategies are not called for. What counts is...
performance relative to competitors.” (Kenichi Ohmae, The Mind of the Strategist, 1982, p.
37)
Strategy formulation is built on "the match between organisational resources and skills and
environmental opportunities and risks it faces and the purposes it wishes to accomplish."
(Dan Schendel and Charles W. Hofer, Strategy Formulation: Analytical Concepts, South-
Western, 1978, p. 11)

Marketing management versus marketing

strategy[edit]
The distinction between “strategic” and “managerial” marketing is used
to distinguish "two phases having different goals and based on different
conceptual tools. Strategic marketing concerns the choice of policies
aiming at improving the competitive position of the firm, taking account
of challenges and opportunities proposed by the competitive
environment. On the other hand, managerial marketing is focused on
the implementation of specific targets."[3] Marketing strategy is about
"lofty visions translated into less lofty and practical goals [while
marketing management] is where we start to get our hands dirty and
make plans for things to happen."[4] Marketing strategy is sometimes
called higher order planning because it sets out the broad direction and
provides guidance and structure for the marketing program.

Brief history of strategic marketing[edit]

Marketing scholars have suggested that strategic marketing arose in
the late 1970s and its origins can be understood in terms of a distinct
evolutionary path:[5]
Budgeting Control (also known as scientific management)
Further information: Scientific management
Date: From late 19th century
Key Thinkers: Frederick Winslow Taylor, Frank and Lillian Gilbreth, Henry L.
Gantt, Harrington Emerson
Key Ideas: Emphasis on quantification and scientific modelling, reduce work to smallest
possible units and assign work to specialists, exercise control through rigid managerial
hierarchies, standardi