Your plan must provide a strategy to transform business objectives into actionable marketing goals, yet remain flexible in today’s technological revolution, so we’ve created a comprehensive eight step actionable guide to create your next strategic marketing plan.
A marketing plan formalises your business ideas, concepts and keeps you focused while establishing tasks and timelines through your key timelines which is used by you and your employees to work towards as goals. Every business no matter how small or big requires a sound and actionable marketing plan.
We use the terms red and blue oceans to denote the market universe. Red oceans are all the industries in existence today – the known market space. In the red oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known. Here companies try to outperform their rivals to grab a greater share of existing demand. As the market space gets crowded, prospects for profits and growth are reduced. Products become commodities, and cutthroat competition turns the red ocean bloody. Hence, the term “red” oceans.