In order to execute a strategy it is necessary to wrap the strategy with additional information. For a specific strategy there should also be a time element which describes how long the strategy is effective, an objective, which attaches a measurable metric for the strategy to be gauged against, and, a mission, which establishes the overall intent. This is what a typical strategy wrap for a marketing campaign might look like.
The campaign mission states in a terse sentence the purpose of the campaign.
Attack and dislodge industry leader.
The campaign objective describes a time frame and an event(s) that the campaign will achieve.
Increase market share from 17% to 27% over the next nine months.
Strategy is a terse sentence describing how the challenger exploits adversary’s critical vulnerability. A strategy should be described with a single sentence, that is clearly stated, and not open to interpretation or confusion.
Cut price. Promote quality.
Tactics are shaping activities designed to increase interaction with customers while isolating the adversary.
1. Create on-line + direct mail promotional campaign.
2. Surprise launch.
3. Rollout four price cuts. Target top 37 customer.
In practice, a marketing campaign can have several strategies in play at one time that support the mission and objective, and importantly, as the campaign progresses the marketer may evolve the strategy based upon its effectiveness.