Marketing Strategy

Marketing is a widely misunderstood concept among the general public, primarily due to misconceptions, so it does not receive the attention it deserves. When we think of the familiar signs on apartment doors that say, “Marketers and peddlers are prohibited,” we immediately associate marketers with “direct salespeople.” However, according to the American Marketing Association’s definition, marketing is the activity, institutions, and processes for developing, communicating, delivering, and exchanging propositions that provide value to customers, buyers, stakeholders, and society as a whole. From this perspective, marketing is not just a corporate department, but a fundamental philosophy that involves developing and communicating propositions that add value to existing consumers and create new markets.

Marketing guru Philip Kotler defines marketing as “the science and art of discovering, creating, and delivering value to satisfy profitable target market needs” and emphasizes that marketing should determine the size and profit potential of the identified market, determine which segments the company can best serve, and design and promote appropriate products and services. In this regard, the Marketing Strategy is one of the most important tools that will provide you with the perspective on the market that you need for the existence and continued growth of your brand.