Originally posted on Ian's Business & Tech Blog:
It is a brand new business day in brand spanking new year. How many entrepreneurs and marketing guys out there have already started planning on what to do for the new year? Well, for those who haven’t, here are some tips that could be useful. It is by no means comprehensive but hey, it’s better than not having any plans.
Strategic marketing planning is the process of matching the present and future resources of a business with anticipated future opportunities in the marketplace. It is a formalized approach used to identify, evaluate, and choose alternative courses of action to accomplish desired objectives. To be meaningful, strategic marketing planning must become a way of life, an attitude, and an ongoing process of strategic thinking on the part of management.
The strategy statement in the marketing plan defines the approaches to be taken in the marketplace to accomplish the desired marketing goals. Developing a marketing strategy, however, is not merely the listing of objectives, courses of actions, or procedures, which that will be used to implement the marketing strategy.