What is a company’s strategy?
What is strategy?
Strategy is a course chosen by an organization to achieve its stated objectives. It takes into account the long-term alignment between one’s own organization and the external environment. Strategy or marketing strategy is aimed at creating value and distinguishing yourself from competitors.
From mission and vision to strategy
Marketing strategy is, as it were, fed by the mission and vision of the company. The mission forms the basis from which the strategy and organizational goals are derived. It is mainly about the questions; who are we and what do we do now?
The vision is about ambition and relates to the desired direction that can be anticipated in the strategy. The emphasis is on the question; what do we want to achieve in the future?
Defining the strategy
In determining the strategy you actually answer the question; how do you want to realize the mission and vision? Marketing strategy determines the long-term course of the organization, usually for 5 years or more. A good alignment between the organization and the environment is important, we call that a good market fit. For this purpose the internal environment and external environment of an organization are analyzed. Then the objectives and a good strategy are formulated.