A marketing plan may be part of an overall business plan.

Solid marketing strategy is the foundation of a

well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without
a sound strategic foundation is of little use.
The marketing planning process

The marketing process model based on the publications of Philip Kotler. It consists of 5 steps, beginning
with the market & environment research. After fixing the targets and setting the strategies, they will be
realised by the marketing mix in step 4. The last step in the process is the marketing controlling.
In most organizations, “strategic planning” is an annual process, typically covering just the year ahead.
Occasionally, a few organizations may look at a practical plan which stretches three or more years
ahead.
To be most effective, the marketing plan has to be formalized, usually it is in a written form.  The
essence of the process is that it moves from the general to the specific; from the overall objectives of
the organization down to the individual Objective (goal)|action plan for a part of one marketing
program. It is also an interactive process, so that the draft output of each stage is checked to see what
impact it has on the earlier stages – and is amended.

Types of strategies
Marketing strategies may differ depending on the unique situation of the individual business. However
there are a number of ways of categorizing some generic strategies. A brief description of the most
common categorizing schemes is presented below:
 Strategies based on market dominance – In this scheme, firms are classified based on their
market share or dominance of an industry. Typically there are three types of market dominance
strategies:
o Leader
o Challenger
o Follower
 Porter generic strategies – strategy on the dimensions of strategic scope and strategic strength.
Strategic scope refers to the market penetration while strategic strength refers to the firm’s
sustainable competitive advantage.
o Product differentiation
o Market segmentation
 Innovation strategies – This deals with the firm’s rate of the new product development and
business model innovation. It asks whether the company is on the cutting edge of technology
and business innovation. There are three types:
o Pioneers
 o Close followers
o Late followers
 Growth strategies – In this scheme we ask the question, “How should the firm grow?”. There are
a number of different ways of answering that question, but the most common gives four
answers:
o Horizontal integration
o Vertical integration
o Diversification
o Intensification
A more detailed scheme uses the categories:
 Prospector
 Analyzer
 Defender
 Reactor