Strategic Marketing

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Strategic Marketing
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Learning Objectives

• Recognize the three strategic C.
• Understand the importance of Strategic Marketing
• Determine the characteristics of Strategic
  Marketing
• Visualize the future of Strategic Marketing
• Comprehend the process of Strategic Marketing

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Concept of strategic marketing

• Within a given environment, marketing strategy
  deals essentially with the interplay of three
  forces known as the strategic three Cs the
  consumer, the competition, and the corporation.
• Marketing strategies focus on ways in which the
  corporation can differentiate itself effectively
  from its competitors, capitalizing on its
  distinctive strengths to deliver better value to
  its customers.

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Characteristics of Marketing Strategy

• a clear market definition
• a good match between corporate strengths and the
  needs of the market
• and superior performance, relative to the
  competition.

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Importance of Strategic Marketing

• Marketing plays a vital role in the strategic
  management process of the firm.
• The experience of companies well versed in
  strategic planning indicates that failure in
  marketing can block the way to goals established
  by strategic planning.

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Characteristics of Strategic Marketing

• Emphasis on Long-Term Implications.
• Strategic marketing is a commitment, not an act.
• Varying Roles for different products /Markets.
• Strategic marketing starts from the premise that
  different products have varying roles in the
  company.
• Organizational Level.
• Strategic marketing is conducted primarily at the
  business unit level in the organization.

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Characteristics of Strategic Marketing

• Corporate Inputs
• Corporate culture refers to the style, whims,
  traits, taboos, customs, and rituals of top
  management.
• Corporate publics are the various stakeholders
  with governments and society constitute and
  organizations stakeholders.
• Corporate resources include the human,
  financial, physical, and technological
  assets/experience of the company.

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Characteristics of Strategic Marketing

• Relationship to Finance.
• Strategic marketing decision making is closely
  related to the finance function.
• Its very important of maintaining a close
  relationship between marketing and finance, and,
  with other functional areas of a business.
• In recent years, frameworks have been developed
  that make it convenient to simultaneously relate
  marketing to finance in making strategic
  decisions.

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Future of Strategic Marketing

• The battle for marketing share is intensifying in
  many industries as a result of declining growth
  rates.
• Deregulation in many industries is mandating a
  move to strategic marketing.
• Many companies in hitherto nonmarketing-oriented
  industries are attempting to gain market share
  through strategic marketing.

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Future of Strategic Marketing

• Shifts in the channel structure of many
  industries have posed new problems.
• More and more countries around the world are
  developing the capacity to compete aggressively
  in world markets.
• The fragmentation of markets - the result of
  higher per capita incomes and more sophisticated
  consumers.

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Future of Strategic Marketing

• In planning an early entry in the marketplace,
  strategic marketing achieves significance.
• To successfully develop corporate imagination and
  expeditionary policies, companies need strategic
  marketing.

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The Process of Strategic Marketing