Developing and Managing a Strategic Marketing plan, essay UAE

In this sample, we will learn about developing and managing a strategic marketing plan.

The process of defining marketing strategies and executing them in the market is strategic marketing.  

Strategic marketing is an essential aspect of marketing. Strategic marketing planning help us to decide the attributes of the marketing and further evaluate the progress. Various aspects need to be followed by the marketers in developing and managing a strategic marketing plan. Let’s discuss them here :

 

Developing a strategic marketing plan 

A strategic marketing plan development requires going through the following steps:

 Analyze the company’s current situation

SWOT analysis can serve you to identify your strengths that make your business unique. While work on overcoming your weakness to stand steady in the market. 

Moreover, you must be aware of your competitors to know about the opportunities you have or threats you can face in the market.

Set your business goals

Your company’s business goals must be specific and achievable. What is your business purpose, product/service is, what problem you are solving, how are you solving that particular problem, why are you the best solution available? Every answer needs to be clear and specific.

Decide your marketing goals

Same as business goals, your marketing goals also must be specific and realistic. Your marketing goals define your marketing strategy. If your marketing goals are not clear, then no marketing strategy will make your product a brand. Marketing goals can be long-term or short-term but must be well-defined and practical. 

Research and define your potential customers and the target market

Before planning a marketing strategy, it is necessary to do thorough market research. The research must collect information about the market specification such as its growth, future scope, size, demographics, and social trends. 

This research will help you identify your potential customer and distinguish the target market. Identifying the target market will lead to developing a specific and goal-oriented strategic marketing plan.

 7 P’s of Marketing 

Marketers must follow the 7p’s of marketing in developing a marketing plan. Defining 7P’s will be the first step toward a strategic marketing plan.

These 7P’s are:

• Product: You must be aware of your product or service. Each feature of your product must be in your tips.
• Price: The price should be specific also the bargaining price. The price depends on many factors such as product features, transportation, potential customer’s budget, quality of service.
• Place: You must be aware of where you will launch or deliver your product or service.
• Promo: The promotion strategy must be clear. There are numerous mediums to promote a product, and you need to be specific about the platforms or mediums you will use to promote your brand.
• Physical: You must have physical evidence of your existent. That will make you more trustworthy. 
• People: People are the employees, workers, or teams directly or indirectly involved in the business. Right people behind the curtain will make your brand more elegant.
• Precess: The process from creating the product to delivering it must be well described. The clients should trust your delivery and manufacturing process of the product or service. 

Develop Strategic Marketing Plans

Now, after completing all the above steps, you should lead to developing your strategic marketing plan. Begin with addressing your goals to reach your potential audience. The actions needed for that plan are the following:

• Implement training sessions to the team;
• Create a scheduling system Website to kill the requirement to call the agency for an appointment;
• Enhance the reception decor;
• Organize telephone interviews with new customers within three days of their acquiring.

 

 

Managing a strategic marketing plan 

After developing a strategic marketing plan, it is essential to manage it for a longer time. Executing the marketing plan is one thing to achieve our market goals but evaluating it and updating it is also critical. For managing the marketing plan, you can follow these steps:

Set your Budget and Timeline

Setting a budget for marketing and managing is very crucial for the market of your brand. The marketing budget directly affects the execution of the marketing plan.

Moreover, determining the timeline for the marketing of your brand is as important as defining the budget. The marketing timeline is the division of the time concerning the target market. You must divide the time as such each aspect of your marketing plan is cover. 

Evaluate plan and progress

After executing your marketing plan, it is essential to evaluate its results. After getting results, you should identify if the marketing plan needs some updates or not.

Measuring the effectiveness of your marketing plan is essential. It will yield information regarding your current marketing plan and your future endeavors. Your online presence, like the website, your social media handles, and other marketing elements, is the root of this information. 

Conclusion

Now as we are aware of the steps or strategies to develop and manage the strategic marketing plan. We can build our marketing plan to enhance the growth of our business in the market. These are the strategies that one must follow but not the only strategies available in the market. But these strategies are the backbones of any strategic marketing plan.

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