Know-How Exchange : Student Questions

I see it differently. I think marketing is a subset of strategy. To me, "strategy" means your overall business strategy, which is really an umbrella for many smaller, different types of strategy. For example, Wal-Mart uses nearby warehouses to keep its stores' shelves stocked using just-in-time inventory management. This is certainly part of their strategy, but it has little to do with marketing.

Conversely, Wal-Mart has made the decision to sell its products at razor-thin margins in absolute defense of being known as the cheapest place to buy things (there is actually a CAP on gross margin for every product), and I view this as a strategic and marketing decision.

IMHO, strategy covers all facets of an operation and how it will compete, a part of which is marketing.

Marketing versus Business Strategy

I agree with Inbox_Interactive that marketing should be a subeset of business strategy. Most businesses are in business to make money, but not all (such as non-profits. Or Criagslist.org, which is a successful, but funny, little for-profit that doesn't have the goal of profit). If the business strategy is to maintain or grow the market, you use marketing. But those few that don't want to grow their market may not use marketing.

And marketing definitely should be something used early on at most companies. But not always the first or most important thing. Using pharmaceuticals as an example, they can't create drugs to meet needs. They instead create drugs and then see what needs it may meet. In this case, science is first, followed closely by marketing to see if the drug is worth continuing to develop into a viable product.

Marketing versus Competive Strategy

I still go with them being separate. Yes, marketing is often a key player in determing competitive strategy, but there are other tactics you can use to gain a competitive advantage which don't involve marketing. One that comes to mind is Mergers and Acquisition - marketing is not always involved in the decision to buy a competitor or to buy another company that allows you to expand into a similar business.

Yes, someone looked at the market and decided it was worth doing, but that doesn't necessarily mean it was someone in 'marketing' doing 'marketing'. Marketing doesn't own the customer, we are just the ones who are usually most attuned to the overall situation in the market.

They're inextricably linked and everyone has their own take on the difference (refer above for evidence).

To me this question is like "What's the difference between English and Maths"? Chances are, if you're no good at one, you'll struggle with the other, and it's better to understand a bit of both rather than all about one at the expense of the other...

Ahem... Let me just step off this soap box so the next speaker can get on...