Business – 8.2 Marketing strategy – Approaches to marketing strategy | e-Consult
8.2 Marketing strategy – Approaches to marketing strategy (1 questions)
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The development of a coordinated marketing strategy typically follows these six stages:
| Stage | Key Activities |
| 1. Situation Analysis | Market research, SWOT, competitor review. |
| 2. Set Objectives | Define measurable, time‑bound marketing goals. |
| 3. Target Market Selection | Segment the market and choose primary/secondary targets. |
| 4. Marketing Mix Planning | Develop integrated decisions on product, price, place, promotion. |
| 5. Implementation | Allocate resources, assign responsibilities, launch activities. |
| 6. Control & Evaluation | Monitor performance, compare with objectives, adjust tactics. |
Each stage feeds into the next, creating a continuous loop that ensures the strategy remains aligned with market conditions and business goals.