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Formulating Effective Marketing Strategies

Jun 8, 2008
Talent and skill is important in the world of business. So is knowledge.

These are the things that power the entrepreneur. However, you have to realize that these are not enough in order to achieve success. These things are important, but without direction, these are practically useless.

You need a plan in order to succeed in business. You need effective marketing strategies in order to put these factors into good use. You need effective marketing strategies in order to give these factors the direction they need to help you achieve success.

Formulating effective marketing strategies will help you conserve your resources and make efficient use of them. So what are the elements of effective marketing strategies?

1) Clear goal - You need to know exactly what you want to achieve. In planning a clear goal, you will also be planning a clear way to achieve it. In order to get from point A to point B, you need to have a clear idea where point B is. You need to concentrate your resources on achieving your goals the easiest way possible. By setting goals, you will be paving the way towards achieving that goal.

2) Resources - As said before, you need to make efficient use of whatever resources you have. This means making sure that those resources are used to their maximum potential. You need to make sure that nothing gets wasted in the achievement of your goal.

Every dollar spent and every effort made must have a purpose. Every resource spent must bring you one step closer to your desired goal. You must always keep in mind that resources are limited.

You need to try and use those resources in the best way possible. Your resources are your strengths. You should use your strengths in order to break down all barriers in front of you. Once you gain sight of your goal, you should make sure that your strength is directed towards that goal.

3) Negatives - Anticipating threats and taking account of weaknesses is a natural part of effective marketing strategies. When you take your positives into account, you should also think about the negatives. You need to make sure that you have an accurate sight of your situation. Overconfidence and pride is the most oft downfall of entrepreneurs. You need to think of the various events that could upset your journey to success. Considering the negatives will help you strengthen yourself and will help you adapt your strategy accordingly.

4) Methods - You need to know how to get from point A to point B. You need to see what methods you can use to carry you to the throne of success. You need to make sure that every method at your disposal is used. Remember, however, that might is not always right. Make sure that your means do not have to be justified by the ends. Intent is the best judge of what is ethical and what is not. Do not sight of yourself when you are eyeing your goal. An important part of effective marketing strategies is never forgetting your integrity.

These are just some of the elements of effective marketing strategies. You need to realize, however, that the most important part lies within you. What, for you, makes an effective marketing strategy? It is this individuality that acts as the key to implementing a strategy.
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