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The marketing strategy should be designed in such a way that it increases sales so that your company has a competitive advantage which is sustainable in the long run. Diversification is a high risk strategy which involves diversifying the range of products and services that you offer. This is the process of developing your current market and could include entering new markets with your products and services.
Your marketing strategy is therefore a set of rules which direct what you do to promote and sell your products or services.

It is high risk in that it is usually a high cost strategy which medium to large sized established companies use in order to continue to grow the business. You could visualize it almost like a pyramid with your overall business aims and objectives at the bottom. Your marketing mix is very simple, it consists of your what product you are going to sell, what price you are going to sell it at and where you are going to sell it.
This can be achieved by finding new customers or getting your current customers to buy more of your product, instead of your competitor’s product.

Once this is established, you can write a marketing plan, which is the detail of the specific marketing activities you are going to take action in order to achieve your business aims and objectives.

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