DEFINITION OF MARKETING STRATEGY
Marketing Strategy is a set of specific ideas and actions that outline and guide decisions on the best or chosen way to create, distribute, promote, and price a product or service (manage the marketing mix variables).
3. A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.´Marketing strategy is a process that can allow an organization toconcentrate its limited resources on the greatest opportunities to increasesales and achieve a sustainable competitive advantage. A marketingstrategy should be centered on the key concept that customer satisfactionis the main goal.Business Advantagesy identifies needs and wants of consumersy determines demand for producty aids in design of products that fulfill consumers needsy outlines measures for generating the cash for daily operation, to repay debts and to turn a profit identifies competitors and analyzes your products or firms competitive advantagey identifies new product areas identifies new and/or potential customers allows for test to see if strategies are giving the desired resultsBusiness Disadvantages identifies weaknesses in your business skills leads to faulty marketing decisions based on improperly analyzed datay identifies weaknesses in your overall business plan