Marketing Strategy: Examples and How to Create One | Coursera

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A marketing strategy is a compass that guides larger marketing efforts. Learn more about creating one to set your team or business up for success.
A marketing strategy is a long-term, big-picture plan for how a business communicates its value to customers, distinct from a marketing plan's specific campaign tactics.
Marketing strategy tactics span diverse categories like digital marketing strategy (such as search engine optimization), content marketing strategy (using blogs and editorials to reach customers,) and social media marketing strategy, (engaging consumers through platforms like TikTok and Facebook.)
Famous marketing strategy examples include McDonald's "I'm Lovin' It" campaign and Apple's first iPhone launch, which illustrate different approaches from Ansoff's matrix, such as market penetration and diversification.
Marketers use the four Ps of marketing (product, price, place, and promotion), known as the marketing mix, to help shape strategy. Learn what a marketing strategy is, why it matters, different types, and steps to create your own in this article. If you're ready to build real-world experience in digital marketing, consider learning with an industry leader through the Adobe Digital Marketing Strategy Specialization. In as little as one month, you'll learn to build a content marketing plan, create and manage campaigns across online platforms, develop brand visuals, and more.
A marketing strategy is an overview of how a business will articulate its key value proposition to its customers. Generally, a marketing strategy outlines factors like the target market, buyer personas, competitors, and customer value. It provides a long-term vision for overall marketing efforts, often looking many years ahead.
Marketing strategies can have a measurable impact on success. In 2022, CoSchedule surveyed marketers and bloggers to identify their most successful marketing practices. They found that marketers who documented their marketing strategy were 414 percent more likely to report success than those who didn’t. Furthermore, marketers who were the most organized were found to be an incredible 674 percent more likely to report success [1].
Taking the time to create a marketing strategy can benefit your company's brand and bottom line. Watch this video to learn more about how to develop a winning marketing strategy:
People often use the terms “marketing strategy” and “marketing plan” interchangeably, but in reality, they are two different processes.
A marketing plan describes the concrete actions and marketing tactics undertaken to complete a marketing campaign. Meanwhile, a marketing strategy outlines the big picture of a marketing effort, such as the business's target customers. The strategy describes what the marketing objectives are, while the plan describes how those objectives are going to be achieved.
For example, imagine an e-commerce business that is trying to grow its customer base. They start a referral program to encourage word of mouth but it has little success. If they had created a strategy, they might have realized they needed to tap into new potential customers instead. A digital marketing strategy focused on targeted blog posts and search engine optimization (SEO) might have yielded better results.
Learn more: Business Marketing: How to Build an Effective Strategy
There are many different approaches to marketing, such as social media marketing and content marketing, but one useful method to consider is Ansoff’s matrix, which takes into account market penetration, product development, market development, and diversification.
H. Igor Ansoff was a mathematician and business manager who created the matrix to help businesses define their strategies by varying what product is being sold and who the product is being sold to [2].
Ansoff’s matrix encourages marketers to consider the four Ps, also known as the “marketing mix":
Product: What is being sold
Place: Where it is being sold
Price: What the product costs
Promotion: How the product is marketed to the target audience
The exact way that a marketer defines the four Ps for their marketing efforts will depend on the growth strategy they are using and the political and economic outlook of their market. Let’s take a closer look at each strategy from Ansoff’s matrix.
Market penetration strategy is a growth strategy that involves selling existing products to existing markets. It is considered the least risky of all the strategies in Ansoff’s matrix. The strategy is typically considered most beneficial if the market is either growing or the marketer alters its promotional efforts through existing marketing channels [2].
An example of a market penetration strategy can be found in McDonald’s “I’m Lovin’ It” campaign from 2003.
In the early 2000s, McDonald's faced flagging sales and plummeting stock prices. Rather than creating a new product (product development strategy), McDonald's instead focused on attracting existing customers in an existing market with a catchy ad campaign. The result was their wildly successful “I’m Lovin’ It” campaign, which featured a catchy new jingle sung by Justin Timberlake [3].
“I’m Lovin' It” has since become McDonald’s longest-running marketing campaign since its founding in 1940 [4].
A product development strategy involves the development of a new product for an already existing market. Typically, it is considered riskier than a market penetration stratfegy because it requires the creation of a totally new product. To be successful, product development strategies require innovation and further research into the existing market, including the profiles and needs of the target audience [2].
An example of a successful (and surprisingly interesting) product development strategy can be seen in the Uni Kuru Toga mechanical pencil.
As odd as it may seem, in the mechanical pencil world, the Uni Kuru Toga is something of a star. “ he Uni Kuru Toga is the best mecha