Strategic Marketing Plan

Abstract

What is a firm’s strategic plan and what informs it? Several books have been written on how important strategic plans are to firms. Some of them even take their readers through a step-by-step process on how to formulate and write a strategic plan, however, very few, if any, explicitly link strategic plans to shareholders’ value. Many seem to focus on resources and competition instead of the customer. Consistent with the theme of this book, in this chapter, we will work to establish linkages between the shareholders’ value, the fundamental finances of the firm, and a strategic plan that focuses on the customer. The logic in focusing on the customer, even though obvious, seems to have eluded many firms; the truth is that without the customer there will be no company, but with the appropriate tools and the right customers, not only will there be a company but, in fact, there will be a successful company.