How to Identify Alternative Plans in a Strategic Marketing Plan

Alternative marketing strategies are key parts of a backup plan.
Alternative marketing strategies are key parts of a backup plan. (Image: Indeed/Photodisc/Getty Images)

If you are part of a strategic planning process, you need to look at the big picture and consider environmental and competitive factors that can affect your marketing strategy in the short and longer term. A strategic marketing plan identifies methods for distinguishing your product or service from competitor products or services. It also provides an implementation plan along with a time line, and information relating to costs. A strategic marketing plan evaluates potential alternative strategies and measures their effectiveness.

Establish the objectives for your marketing plan, based on quantifiable and measurable factors that could include sales, production or cost-reduction goals.

Assess the short- and long-term economic, regulatory, competitive, demographic consumption and exchange rate trends and determine how they could affect your business strategy.

Determine what your customers' needs are and what drives them to purchase products or services within your category. Review the current and trending competitive landscape and assess your product's and company's strengths, resources and capabilities, as well as potential weaknesses, market opportunities and potential threats to growth.

Develop a set of marketing strategies that can enable you to reach your end goal. Evaluate each strategy based on cost, benefit, implementation time and market goals.

Identify your main strategy by choosing the strategy that best fits your goals. List the remaining strategies and related analysis at the end of your marketing plan under the title "Alternative Strategies." If your end goal or environmental factors change, reference your analysis and determine an alternate plan of action.

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