The Chinese proverb above contains everything why we should make a strategy. Strategic thinking dissects three questions: what is the company’s current position, what do they want to achieve, how can they achieve it?
Without a strategy we become like a vessel that does not have a wheel and just goes round and round.
The advantage of strategic planning is that it clarifies the objectives, defines the business policy, appoints the performance requirements and improves internal operation. A short-term plan determines the position of the enterprise or organisation, the objectives, the strategy, the action program, the budget and the dates and methods of audit, while a long-term plan defines the environment of the company or organisation and its strategy for next few years as well.
In a company’s life the most important participants of strategic planning are the marketing directors. They play a leading role in defining the company’s mission, in analysing the environmental conditions, the concurrency and other circumstances affecting the business, in setting objectives and strategies and in the elaboration of business strategies concerning products, markets, division and quality. It is also their task to develop programs and operational plans that are in close relation with the strategic plan and its implementation.
The basis and process of success in strategic marketing planning
- Defining the company’s mission
- Situation analysis, examination oftheinternal and external factors
- Setting the objectives
- Selecting marketing segments
- Determining the budget
- Elaboration of marketing programs, positioning
- Evaluation and audit/assessment and verification
- Conclusions
- Strategic change if necessary
Even a good strategy has to be changed if there is a reason
A certain strategy may vary if necessary. We do not necessarily have to fall in love with our strategy and stuck into it. If the strategy does not work, we should change it. It is not a badly planned strategy that can cause problems, but if they do not change this strategy in time and head for a new direction.
- Changing market conditions
- The competitors’ new measures
- New technologies
- Changing consumer demands
- Political and legal changes
- Appearance of new possibilities
- Momentary crisis
Sometimes it is difficult for the marketing directors to observe themselves from inside – there is need for external control and support especially if the directors have been leading the companies’ marketing communication areas for a long time.