Once you’ve formulated your goals, you need to develop a strategy to achieve those goals.
Strategic planning involves recognizing the threats and opportunities presented by the industry.
When creating your marketing plan, strategic marketing comes first because it deals with the direction of your business growth in relation to your competitors. Next, comes tactical planning which consists of the actual process involved in improving your competitive position.
Strategic marketing and tactical marketing don’t oppose each other; they complement the other.
The presence of both forms of marketing is essential to the success of your marketing. It's based on a strategy of hope which is guaranteed to fail.
To get the highest impact on your marketing spend, start with strategy, then move to tactics. Ignoring strategy and starting with tactics is like burning a pile of cash in your parking lot. Take the next step and learn where you can find more growth opportunities within your company with an MMG strategic analysis.Tactics and strategy are often interchangeably used when talking about gaining an objective.But while the two words may seem synonymous, they mean different things, especially in marketing. Tactics are the action taken to support the strategy.Examples can be helpful to understand how strategies and tactics relate.We use strategy and tactics in very simple ways every day without realizing it.Let’s say your overall goal is to reduce government corruption in your country.One strategy might be to pass a law that those convicted of corruption would face severe consequences.Objectives can be defined as the desired future position that the management would like to reach (end results).They are usually set by the top management of the organization and focus on broad, general issues. They serve as a guide for overall business planning.With a strategy in place, the actions or tactics needed to reach your goal can be set into motion.Creating tactics to support your marketing strategies involve detailed profiles of your customers.