Important of the Marketing Strategies for the company

Marketing strategy is a key part of the general corporate strategy
A marketing strategy is most effective when it is an integral component of corporate strategy, defining how the organization will engage customers, prospects and competitors in the market arena for success. It is partially derived from broader corporate strategies, corporate missions, and corporate goals. They should flow from the firm's mission statement. They are also influenced by a range of microenvironmental factors.

A marketing strategy also serves as the foundation of a marketing plan. A marketing plan contains a set of specific actions required to successfully implement a marketing strategy.

For example: "Use a low cost product to attract consumers. Once our organization, via our low cost product, has established a relationship with consumers, our organization will sell additional, higher-margin products and services that enhance the consumer's interaction with the low-cost product or service."

Here are different type of marketing strategies, and it will clearly explain different marketing strategies have different important function on marketing activities:

Types of marketing strategies
Every marketing strategy is unique, but if we abstract from the individualizing details, each can be reduced into a generic marketing strategy. There are a number of ways of categorizing these generic strategies. A brief description of the most common categorizing schemes is presented below:

Strategies based on market dominance - In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are three types of market dominance strategies:
Leader
Challenger
Follower

this strategy base on internal management
Porter generic strategies - strategy on the dimensions of strategic scope and strategic strength. Strategic scope refers to the market penetration while strategic strength refers to the firm’s sustainable competitive advantage.
Cost leadership
Product differentiation
Market segmentation
this strategy apply porter theory to place effort on target market and positioning.

Innovation strategies - This deals with the firm's rate of the new product development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation. There are three types:
------Pioneers
------Close followers
-------Late followers
this strategies production development

Growth strategies - In this scheme we ask the question, “How should the firm grow?”. There are a number of different ways of answering that question, but the most common gives four answers:
----Horizontal integration
----Vertical integration
----Diversification
----Intensification
this strategy based on grow of the firm.

Hi some quick thought on it:

1) Help company identify prospective client
2) Able to help company generate more revenue
3) Improve company's efficiency in terms of operation cost
4) Help company define or find out their position in the market
5) Identify competitor in the market

I think best of all...is to generate REVENUE....REVENUE...