STRATEGIC MARKETING

Strategic Marketing



Strategic Marketing

Introduction

Strategic marketing is an important and essential factor for an organization. It plays a very significant part in the success of the organization. This paper highlights the different aspects of the strategic marketing. Additionally, the role of strategic marketing, the process, importance and planning of strategic marketing is also discussed in the paper.

TASK 1

Role of Strategic Marketing in an Organization

One of the most important and useful features of marketing is to plan, with some guarantee of success, the future of our company, for it based on responses to offer to market demands, we have already said that the environment in which we position ourselves constantly changing and evolving, the success of our company depends largely on our ability to adapt and anticipate these changes (Weitz &Wensley 2002, 1).

Therefore, strategic marketing seeks to know the current and future needs of our customers, identifying new niche markets, identify potential market segments, assess the potential and interest of these markets, to guide the company to pursue these opportunities and design an action plan to achieve the desired objectives. In this context and motivated because the companies currently operating in a highly competitive market requires, therefore, continuous analysis of the different variables of SWOT, not just our company but also competition in the market.

Strategic Marketing Process

Following is the usual process of strategic marketing,

Step 1: Determination of long-term goals of the organization and its mission.

The company's mission includes the development and movement direction, which the company intends to follow in the future. Here we consider the general concept of operation of the organization as a whole and its individual units. Objectives specify the mission to a certain level of generalization (Weitz &Wensley 2002, 1).

Step 2: Analysis of the marketing environment.

At this stage the study of internal and external environment of marketing organization, identifies strengths and weaknesses of the company, its capabilities and potential hazards.

Step 3: The choice of marketing strategy.

Often at this stage, a so-called "portfolio analysis", designed to obtain the data necessary to select a strategy. Used as a rule, two-dimensional matrix, constructed on the basis of information on growth rates and market shares of products of different companies and competitors.

Step 4: The implementation of that strategy.

It is one of the most important stages of strategic marketing planning organizations, as well as from him directly to the success of the enterprise.

Step 5: Plan monitoring, evaluation and, if necessary, adjustment.

To Strategic Planning yielded the expected useful result, it is necessary to monitor the accuracy of his work, and sometimes make changes - in the event that any forecasts that affect the calculations did not come true.

Links between Strategic Marketing and Corporate Strategy

According to Oxford marketing is defined as “the action or business of promoting and selling products or services, including market research and advertising.” Strategic Marketing is doing this, strategically. Many smaller or mid-size companies (and even big ones for that matter) recognize the need for marketing, but don't understand what's involved to put ...