What is the purpose of a marketing strategy?

The purpose of a marketing strategy is fundamentally about connecting with prospective clients and helping them understand what a company offers, including its programs and services. This approach enables businesses to effectively communicate their value proposition, address the needs and preferences of potential clients, and establish a relationship based on trust and knowledge. By educating potential clients, a marketing strategy builds brand awareness and can lead to increased engagement and ultimately, conversions.

While gathering competitor intelligence and social media marketing can be components of a marketing strategy, they do not encapsulate its primary purpose. A well-rounded marketing strategy often includes a detailed analysis of competitors and may leverage social media as a channel, but these elements support the overarching goal of educating clients rather than serving as the sole focus. Increasing product prices may be a business decision but is not inherently tied to the fundamental purpose of a marketing strategy, which revolves around client engagement and education.