Tactics Vs. Marketing Strategy
Your business marketing strategy is a major element of a marketing plan, a formalized document that outlines how you convey messages about your product to your markets. A marketing strategy is the outline or plan a company establishes to achieve its marketing objectives. Tactics are an element of marketing strategy. They are the specific action steps used to implement your strategy.
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Marketing Strategy Basics
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Your marketing strategy sets forth how the company plans to achieve its marketing goals, such as increased market share or a more favorable image in the marketplace, within a stated time frame. Among the core elements of a marketing strategy are your choice of market segments to target, how to position your brand in the market, use of the four marketing mix elements (product, distribution, promotion and pricing), and resource allocation.
Strategy Details
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Identifying the specific needs of a given market and presenting an offer to customers that is better than your competitors is key to being a successful marketing strategy. Segmenting your markets, identifying specific segments to go after and positioning your offering to those specific markets is what helps a company succeed. You have to communicate messages that show how your product or service is unique or better.
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Marketing Tactic Basics
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In general, tactics are specific tasks or steps used to put a strategy into action. In marketing, this includes the ways a company chooses to convey its marketing messages to its target markets. Common tactics include use of various types of advertising, public relationship, promotions, point of sale activities, and sales processes. Ultimately, companies try to use tactics that are the most cost efficient but communicate to their audiences in effective but affordable ways.
New Media Tactics
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A May 2007 "Forbes" magazine article discusses some of the common new media and tactics 21st century companies are turning to in an attempt to maximize marketing dollars. Referral programs are among the most effective and affordable marketing tactics, notes "Forbes." These programs leverage word-of-mouth principles to reward customers for bringing your business new customers. Targeted email marketing campaigns also are a popular, efficient marketing tactic. A number of online tactics also are discussed as more companies use the Internet for research, market identification and communication.
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