Demand Metric Marketing Strategy model

Jerry Rackley's picture
Expert
Jerry Rackley
Expert
Jerry Rackley wrote:

"Marketing Strategy" can mean different things to different marketers.  I want start a discussion on this and share what we at Demand Metric think it means.  

I've seen the term "Marketing Strategy" interpreted as a high-level, corporate marketing philosophy, a product marketing plan or even a marketing communications plan.  Each of these has a place in an organization's marketing strategy.  Here's the view we have and promote in our tools, templates and advisory:

1. Marketing Strategy: a relatively static, high-level plan that describes the culture and philosophy of marketing.  Think of it as a set of guidelines for how the marketing function operates.  Ideally, this is the first thing a marketing organization should put in place.

2. Product (or service) marketing plans: each product or service needs a plan that describes how it will achieve success in the market.  Such plans are a blend of strategic and tactical actions.  In the classic marketing mix of Product, Price, Place and Promotion, a product marketing plan is concerned with each of these things.

3. Marketing communications plan: a single plan that is primarily concerned with the Promotion element of the classic marketing mix.  The marcom plan spans, integrates or coordinates all communications, both product and corporate.  For many companies, marketing communications is most or all of what the marketing function does.

Ideally, an organization will have each of these three elements in place.  Demand Metric has methodologies for all three of these elements, and training courses in DM University for "Creating a Product Marketing Plan" and "Creating a Marketing Communications Plan".  Development of the Marketing Strategy training course is currently underway.

I've just shared our view of the components of a complete marketing strategy.  It's just one view - we have a lot of experienced marketers in our community.  What are your thoughts about what Marketing Strategy is and how to build and execute it?

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Resource Reference 
Free
Marketing Strategy Playbook

Use this step-by-step planning playbook and set of 22 premium tools and templates to create a comprehensive strategic marketing plan.

2 Responses

CARMAN SLATE's picture
Contributor
CARMAN SLATE
Contributor
CARMAN SLATE wrote:

One marketing strategy would have a Demand Metrics App

Gerald Buckley's picture
Advisor
Gerald Buckley
Advisor
Gerald Buckley wrote:

From a strategy point of view I've always felt "Strategy's job" was to set the borders or parameters of what we will (and consequently what we will not) pursue and why. This type of hill is strategically important, because... That type is not, because...

The strategy part always seems easiest. "Simple" wins and is easy to communicate.

It's the execution, the "how" and the details that get so darned messy. I forget who's attributed to "no battle plan makes it intact past the first day" but if it's not measurable it doesn't make it into my plan. If it can't be executed and measured for effectiveness or contribution or attribution... it's not likely to be brought into the mix.

Jerry, please consider putting something in your upcoming methodology about the importance of Business Intelligence and Dashboarding. A case study would be even better still. Plenty of co's out there who would sponsor something like that I'm betting. Thanks!