In most organizations, “strategic planning” is an annual process, typically covering just the year ahead. Occasionally, a few organizations may look at a practical plan which stretches three or more years ahead.To be most effective, the plan has to be formalized, usually in written form, as a formal “marketing plan.” The essence of the process is that it moves from the general to the specific; from the overall objectives of the organization down to the individual Objective (goal)|action plan for a part of one marketing program. It is also an interactive process, so that the draft output of each stage is checked to see what impact it has on the earlier stages – and is amended.Strategy and tactics are two different things. When you formulate business strategy you choose tactics that will help to achieve your strategic goals. Strategy refers to a direction toward a goal. Tactics are the actions taken to support that strategy. Most businesses deal with five types of strategy and the tactics used to achieve strategic goals: product, pricing, marketing, operational and financial strategies.