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Marketing strategy refers to the overall strategy of an organisation in relation to a particular market. Plans will form part of this entire process, when it will come to implementation of the strategy. Consumer economics and customer relationship management are the two interconnected trends in marketing approaches that have changed the importance of marketing strategy in the present-day. The entire organisation must be a part of this process. Everyone in the organisation, and not just the marketing department, must adopt and implement this at their level.
Our experts say that, there are different stages involved in marketing strategy and plan. These stages form the basics of marketing strategy and plan. They contain everything from defining objectives to implementing the strategy and then monitoring its performance.
Marketing strategy consists of telling the customers about the product or service being offered and the differentiation factors. Marketing plan consists of constructing marketing campaigns and promotions that will achieve the ultimate goal of the strategy.
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