Marketing Plan Vs. Marketing Strategy. What You Need To Know.
It’s time to grow your business or even start it and you’re thinking … “Man, I need a marketing plan, no a marketing strategy … whatever, I just need to market.” But, which comes first? And, does it even matter?
Let’s see.
Marketing strategy
Business goals are the foundation of a marketing strategy and once you figure out your short and long-term goals, you can move forward with a strategy. You can view the strategy as the “what” in the equation. It’s “what” you need to accomplish to reach those business goals.
For example, let’s say you really want to quit your job. Your boss stinks (literally) and it makes you nauseous. The stench is just too much for anyone to handle. So, “what” needs to be in place for you to quit?
Marketing plan
Now that you’ve figured out what’s needed to get away from good ol’ stinky, “how” will you get there? The how is your plan.
Your marketing plan will indicate the steps needed to realize those business goals you’ve already laid out. While no plan will be the same as another, your plan should include your:
Business summary
Marketing strategy
Target market
Budget
Marketing avenues
Pricing
Now, back to the original question. Which comes first, a marketing plan or a marketing strategy? The strategy! Think … Action. We should think before we act, right? So, in developing your strategy, you are thinking about what you will do to reach your goals. And, when your marketing plan is underway, you are taking action. In essence, your “how” is satisfying your “what”.
Think … Action.
Good Luck :)
