Creating marketing plans can be an arduous task. On one hand, a part of the leadership team wants a strong strategic frame work, on the other, there are those who want more focus on executable plans which show results.<\/p>\n\n\n\n
Often, the same plan gets a thumbs up for its \u201cstrategy\u201d in one review and gets panned for lack of \u201cstrong implementable plans\u201d in another.<\/p>\n\n\n\n
So, what is of greater relevance for marketing \u2013 Strategic thinking or Execution? Are they disparate or linked to one another? Are they the same in importance?<\/p>\n\n\n\n
As the leader in one of my previous organizations succinctly put it \u2013 \u201cOnce the Strategy is Created, Execution is the Strategy\u201d. So clearly business, and therefore marketing is about both \u2013 strategic marketing & also winning activities (or programs or tactics \u2013 the nomenclature varies).<\/p>\n\n\n\n
While marketing programs or tactics are well understood to drive businesses, not much is mentioned about the strategic thinking which is (or certainly should be) the bedrock for these programs. Consumer understanding, stakeholder mapping, competitive positioning \u2013 these are some critical components of marketing which may not get due importance.<\/p>\n\n\n\n
Marketing strategy often gets lost in the routine of monthly reviews, incomplete projects and possibly a lack of understanding of the craft.<\/p>\n\n\n\n
To further compound the problem for strategy, business leaders, with an eye on their shareholders & egged on by other functions \u2013 want results, which in the short term can be more easily generated with tactics.<\/p>\n\n\n\n
This is a genuine source of conflict in organizations, since strategic thinking requires resources \u2013 time, money, people and skill. This is vis-\u00e0-vis a simple tactic which, with a tenth or resources can solve many a problem.<\/p>\n\n\n\n
Say, for example the brand manager of a herbal cough brand, before the \u201cseason\u201d (winter\/rainy) in India, who wants to survey different segments of customers and figure out the real motivation of consumer demand, hence use the right lever to boost demand during peak months. Time, money, skill for completing this project can be substantial. On the other hand, a simple activity of a 20% retail discount for 2 months or a festive gift with each purchase for the consumer can also give results. Quick. Efficient.<\/p>\n\n\n\n
Especially, since the market research project could also result in a consumer purchase gift option!<\/p>\n\n\n\n
Ideally, tactics follow strategy and sound strategic thinking ensures a robust plan which includes execution to drive specific results.<\/p>\n\n\n\n
So, should marketing individuals or teams be focusing on the strategic thinking part of marketing or allocate more of their working hours to tactical execution?<\/p>\n\n\n\n
Marketing Definitely involves both, there are perils of ignoring or over emphasizing either<\/strong><\/p>\n\n\n\n In a crunch: tactics prevail. However, the key question (after the emergency has been handled) is, could better strategic thinking have avoided this situation? If we had foreseen this,<\/strong><\/p>\n\n\n\n Strategic thinking\u2019s primary task is to understand patterns and help create sustainable competitive advantage. The key to longevity of business success. More often than not, businesses are driven by brands in today\u2019s world, brands need sound strategy.<\/p>\n\n\n\n Marketing Tactics or activities are extremely important, but without strategic thought, they are likely to lead to devaluing brands.<\/p>\n\n\n\n There are cases where execution of short-term plans can do the trick. The producer\u2019s instinct is sufficient to draw out plans and generate success. However, more often than not, marketing strategy is required, especially as the brand\u2019s customers grow and with it, for sure, competition increases.<\/p>\n\n\n\n In the end, some points to keep in mind if one wants to bolster strategic thinking across the organization<\/strong><\/p>\n\n\n\n Maybe, like many things in life, the approach should be a balance. Not a business leader choosing \u201cone or the other\u201d but strategy & tactics looking out for \u201cone another\u201d<\/p>\n<\/body>","protected":false},"excerpt":{"rendered":" Creating marketing plans can be an arduous task. On one hand, a part of the leadership team wants a strong strategic frame work, on the other, there are those who want more focus on...<\/p>\n","protected":false},"author":1,"featured_media":34,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[5,6,7,8,9],"class_list":["post-24","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing","tag-marketing","tag-marketing-strategic-thinking","tag-marketing-tactical-execution","tag-strategic-thinking","tag-tactical-execution"],"yoast_head":"\n