Developing a marketing strategy is vital for any business. Without one, your efforts to attract customers are likely to be haphazard and inefficient.
The purpose of a marketing strategy is to identify, and then communicate the benefits of what a business offers to their target market.
In the current climate, it's important to create a flexible strategy that can respond to changes in customer perceptions and demand. A dynamic strategy may also help to identify entirely new markets, that a rigid strategy wouldn't otherwise have shown up.
Monitoring and evaluating how effective your strategy is, or was, is a key element, yet often overlooked. This control element not only helps you see how your strategy is performing in practice, it can also help inform your future marketing strategy.