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A marketing strategy refers to a business’s overall game plan for reaching prospective consumers and turning them into customers of their products or services. With a marketing strategy, you can define how your company positions itself in the marketplace, the types of products you produce, the strategic partners you make, and the type of advertising and promotion you undertake.
A marketing strategy is important because it helps you understand your customers’ needs and better communicate your offerings. It also sets a clear direction for your department and unifies marketing activities, so everyone works toward the same goal.