With a marketing strategy, you want to achieve two main goals:
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Business, especially online business, is war. It is you versus your competition. To survive in this war, you need a concrete and detailed plan of how your business intends to compete and win in its marketplace. This plan is your strategy. The intention of strategy is to take the basic ideas of your business such as those reflected in the vision, mission, and values, and to express them in operational terms that are directly useful for analysis and action.
Your business strategy will outline the clear and detailed longterm plan that you will follow to achieve the success goals set by your company. Many small businesses can get away without a formal strategy for the short term. However, for the sake of longterm growth, stability, and success, a strategy is needed to help guide the business management of the company. Preparing a strategy is a rigorous but enlightening excercise, making clear to the leadership of the business what the company is about, how it will grow, and the steps the milestones that need to be achieved.
In preparing a strategy, you need to work on the following components: