A marketing strategy is a comprehensive plan that outlines a company's approach to promoting and selling its products or services. It involves identifying target markets, understanding customer needs, and developing a strategic roadmap to achieve specific marketing objectives. A well-crafted marketing strategy considers factors such as market research, competitive analysis, pricing, distribution channels, and promotional activities.

Internally, a good marketing strategy provides a clear direction and focus for all marketing efforts, guiding the allocation of resources, ensuring that time, money, and efforts are invested effectively. For a brand’s external output, it helps define a unique value proposition and positioning that sets the brand apart, capturing the attention and interest of target customers. This altogether maximises the return on investment and allows for efficient budget allocation, ensuring that marketing resources are utilised in the most impactful ways, and allows room for measuring success and refining of marketing efforts based on real-time data and feedback.