A strategy identifies the best target markets for the business based on product or services, including the methods it should use to achieve goals, while staying within budget. It outlines the company’s strengths, weaknesses, opportunities and threats, and presents clear tactics to handle each. A thorough marketing strategy also delineates how best to reach each market and sets pricing for products.
Once awareness has been established, the strategy outlines the target audience, advertising concept and messaging created to call customers to action. It then lists the various advertising media and channels necessary to effectively communicate the message to customers.