An effective B2B marketing strategy provides a long-term vision that orients all of marketing and informs investment and resource allocation decisions. However, many B2B organizations often bypass or overlook high-level marketing strategy, choosing instead to focus on the functional plan level, which can cause serious misalignments and poor investment decisions. In this report, we define marketing strategy and its three cascading decision levels, which can be navigated with the Forrester Marketing Strategy Compass.