The chart in Figure 7.1 and the following chapter demonstrate the approach for developing a successful marketing strategy. The graphic suggests that a vision (how the organization will create value for customers and stakeholders) and mission (the purpose of the business) should drive the price, place, product, and promotion marketing components and that once these four Ps are identified, a strategy can be developed.
Figure 7.1 Marketing strategy flowchart
Source: Copyright GWR Research (2013). GWRResearch.Blogspot.com
To determine the value of each of the four Ps requires a vision and mission statement that ...