An organization, regardless of its size, needs to understand marketing fundamentals in order to be able to develop a marketing plan. A marketing plan becomes the basis for the marketing portfolio. The marketing portfolio can contain all the important components that can be used in the marketing strategies.
Marketing is an expense that every company is going to have to deal with. It needs a budget set for it. Once the budget has been established then it allows the marketing team to develop strategies as to how they are going to reach their goals based on their marketing efforts. The portfolio can contain all this information so there is one central point for the entire marketing team to work from. It is always a wise idea to develop different marketing strategies. That way if one is not being effective then there are alternatives to turn to.
At one-time marketing for a business meant spending most of time utilizing hard copy materials. Now with the internet there is a huge opportunity for online marketing to make up a huge part of the marketing portfolio.
Online marketing has some of the basics that on land marketing does. However, the approach in planning for it needs to be strategized so that all the resources found online can be used.
Print, or “On land” marketing is what many new businesses are more familiar with. However, this form of marketing can be far more expensive when compared to the online marketing resources. At the same time, they should not be ignored because they still serve a valuable purpose when it comes to marketing.
The marketing portfolio for the business basically becomes a toolbox for the marketing program. It will have the planning and the strategy. Then it will be made up of a different collection of marketing campaigns and should be the central resource for those responsible for the marketing to rely on.