Strategy versus marketing
What’s the difference between strategy and marketing? Often it seems like we’re addressing the same questions or decisions – where to play, how to win, and what is required to succeed – but there’s a bit more to it. UQ MBA Alum Chris Gaffee posed the question as he discussed his journey from learning marketing in his MBA, applying this knowledge to his first startup, and then becoming a strategist at Monitor Deloitte. Marketing provided Chris with the ability to understand opportunities from a customer perspective and then develop go-to-market strategies for his product innovation. Through this startup, he learned first hand the challenges early stage businesses face when market conditions rapidly change as a result of a pandemic. And the strategic choices that need to be considered when deciding whether it is viable to continue. Ultimately, this experience influenced Chris to embark on a career in strategy consulting and to help clients solve complex problems around business growth. So what is the difference between strategy and marketing? Strategy is primarily concerned with the direction, goals and priorities for a business – decisions about why we are in business, what we are trying to achieve, and how we can do it. Marketing is primarily concerned with the way that value is created with customers, employees, partners and other key stakeholders – decisions about who we serve, what we offer, and how we engage. Thanks for sharing your journey and experience Chris. #strategy #marketing #valuecreation
