Sunil saldanha of vcare - 5 reasons why do you need a marketing strategy for your business

5 reasons why do you need a marketing strategy for your business – by Sunil Saldanha of V-care A lot of people confuse marketing with only the promotion aspect of it. But as Sunil Saldanha of Vcare says, marketing is way more holistic a concept than that. A marketing strategy starts from grassroots level of the company’s operation and goes beyond the sale of product or service. Yes, there are separate departments involved in the company’s operations. But they are all related and connected to the various aspects of marketing. And hence, a good marketing strategy is quintessential.

Here are 5 reasons why you need a practical, realistic and effective marketing strategy in place for you company to be a successful one, according to Sunil Saldanha of Thane.

1. It gives the objectives a radar A company is usually prefers to stick to their objectives, but a strategy gives a radar to it. It works as an active compass, showing the way and directing which is the best path to follow to achieve the goals that we have set, and in time. Marketing strategy is created based on what the audience wants, and the sole purpose of it is to direct the company’s operations into doing something that the customers will accept.

2. It is the company’s biggest weapon against the competitors Pen is mightier than the sword – the idiom is a well-known one. If you take ‘pen’ as a metaphor for brilliant ideas, it indeed is a much greater weapon against the rivals than anything else. And by weapon, we do not mean ambush marketing or black hat techniques.

Ethical strategies, sticking to the moral compass of the company can also yield good results, if the marketing strategy is implemented and executed properly.

3. It helps you grasp the market Like we already said before, the whole point of marketing is to please the customers. In today’s business, customer is the boss. If a company cannot cater to the taste and preference of their target audience, they might as well fade out of the market. But with a concrete market research and analysis, and implementation of the right strategy, not only the existing customers will stay loyal to the company, but it will open up opportunities for new markets as well.

4. It promotes poptimization of resources The marketing strategy allocates the right man/woman and the right resource at the right place, so as the final result is as optimum as possible. There are various tools and software to help the marketers in making those decisions. In that way, no labour, material or capital overhead is lost due to wastage, except the inevitable loss. In short, the strategy helps give a framework to the whole operation.

5. It helps in building a brand

A company is nothing without its brand. Marketing strategy includes building a brand for the organisation and being consistent in it. It determines how the brand is positioned in the market and how the audience perceives it. It is not only about the core product or service, but customer support, ethical functioning and CSR activities as well.