Posted in Marketing and Strategy Terms, Total Reads: 854
Definition: Corporate Strategy
Corporate Strategy is a long term strategy which highlights the direction which a business intends to take. In a marketing context, the strategy would involve long term branding of the company. The corporate strategy would involve the amount of resource allocation for each item in the marketing mix. It would involve directives to market a product. If a company wants to be socially responsible then these ideas should fit into the overall marketing plan.
Philanthropy, for instance, can also be part of a corporate marketing strategy. Companies that decide to give a certain share of profits for charitable purposes generally include that directive in their marketing plan.
Developers and marketers are expected to take these corporate directives into consideration while launching a new offering.