How to Manage the Best Marketing Strategies?

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Best Marketing StrategiesThe best marketing strategies are those which are the most memorable for the target audience and also achieve their objective. But creating successful marketing strategies is not easy. Increasing sales is becoming more challenging in today's competitive global marketplace. New communication tools require ever-more creative marketing strategies. These strategies must increasingly be allied with strategic business planning. Brand awareness is no longer enough: the focus is on build branding communities and brand advocates that drive brand loyalty. Indeed, brand loyalty is considered the ultimate sign of the most successful marketing strategies.

The best marketing strategies target the right consumer profile and achieve higher business performance. There are several elements that contribute to building a successful marketing strategy. The best start with market research at an early stage for an in-depth understanding of consumers' habits and practices. Developing the strategy is usually based on collective work and the use of the entire suite of marketing tools. And without question, the best marketing strategies are still built around the four Ps of marketing:

  • Product
  • Promotion
  • Price
  • Place

Of course, the best marketing strategies need creative ideas. However, creativity is not ‘magic', but rather a real outcome of a successful management process. Its structure goes from brainstorming and generating ideas to narrow selection based on in-depth market research. In such a way creativity is linked to business objectives and to support sales.

Best Marketing StrategiesKnowledge of the latest tools and trends is also crucial for strategic management of branding and marketing campaigns. In the context of instant communication, the strategic approach to marketing becomes more important than ever. Social media creates an information environment in which it becomes difficult to stand out. Media and channels change quickly. The best campaigns are those that reach customers where they are. So the best marketing strategies have to constantly keep up with the latest developments.

Finally, marketing strategies also require monitoring and evaluation. The best marketing strategies can prove their value in terms of return on investment.

Organizations focused on strategic business planning are those that normally achieve the best marketing results, as are those where knowledge sharing is integrated throughout the organization. Employees should share their experiences and lessons learned from the marketing strategies they have created and implemented. Best practice sharing helps build-up internal communities of experts and improves organizational learning in how to develop the best marketing strategies.

Training for the best marketing strategies

A strategic marketing course from business management schools is a good way to get the necessary toolkit for creating the best marketing strategies. Many executive MBA programs also include strategic marketing in their curriculum.

Business classes from top international business schools can be particularly helpful. Not only do these provide marketing managers with the latest developments in marketing, but also in the global business environment as a whole. This helps such managers strategically anticipate new trends and to be more innovative. Marketing managers with more general corporate training can also transfer their knowledge to others within the organization - both on general business as well as on what makes the best marketing strategies.

Still looking for the Best Marketing Strategies?

Discover how IMD's Marketing Management program unlocks your leadership potential. Download the (NEW) program brochure now.

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