What should the foundation of a marketing strategy be based on?

The foundation of a marketing strategy should be based on the desires of the consumer base because understanding consumer wants and needs is essential for creating effective marketing efforts. When a marketing strategy is built around consumer desires, it directly addresses what potential customers are looking for, making it more relevant and appealing. This consumer-centric approach helps businesses tailor their products, services, and messaging to better fit market demands, ultimately leading to higher engagement, satisfaction, and sales.

While industry trends, company strengths and weaknesses, and the marketing budget are important considerations within the marketing strategy framework, they should support and align with the core understanding of consumer desires. Trends may inform the context in which consumers are making choices, company strengths and weaknesses can dictate what is feasible to market, and the budget determines the scope of marketing activities. However, without a focus on what the consumers truly want, a marketing strategy risks being ineffective and disconnected from the target audience.