Sample Essay
The base of the marketing plan is formed by the established marketing strategy. A marketing plan highlights tactics and limited scope strategies that can be used to implement the marketing strategy. Different aspects of a marketing function that are covered in the marketing strategy pertain to advertising, channel marketing, sales promotion, internet marketing as well as handling the packaging and pricing of the products. The public relations function is also influenced by the marketing strategy of the company.
There exist many types of marketing strategies that are used by successful businesses in the international market. The types of marketing strategies that are used by successful companies can be categorized into five main types. These strategy types pertain to the market dominance strategy, the growth strategy, action based strategy, and generic strategies. It is also possible for the marketing strategy to be based on popular marketing models like the 3 C model, the Ansoff matrix as well as the four P’s or the marketing mix
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