No matter what you're marketing, you need a thorough understanding of customer needs, wants, and expectations. To build ongoing relationships effectively, your strategy must support integrated marketing. C. Marketing Strategy Builds Profits 1. Attract new customers b. Get more business from current customers. However, rapid changes in the environment can quickly outdate marketing strategy.
Marketers also use strategy to meet the needs of noncustomer stakeholders.
Top management sets the parameters for marketing strategy, goals, and objectives by spelling out the firm's mission. The mission is the fundamental purpose of the organization, which forms the foundation of all organizational activities. The mission statement is a declaration of purpose and direction, prepared so the mission can be communicated. Your Situation 1. A situation analysis is a review of the organization's present state and an evaluation of external and internal factors.