A sound problem definition should be the starting point of any strategic marketing planning process. Strategic management is a broader term than strategy and is a process that includes top managements analysis of the environment in which the organization operates prior to formulat ing a strategy, as well as the plan for implementation and control of the strategy. Strategic analysis is a process that involves researching an organizations business environment within which it operates. Here we define strategic marketing and explore some marketing degrees and careers. The picture on the left shows the process for developing and aligning marketing strategy. What is marketing strategy marketing strategy is a longterm course of action designed to optimize allocation of the scarce resources at the disposal of a firm in delivering superior customer experiences and promote the interests of other stakeholders. It helps the organization to achieve competitive advantage and sustain it over a longer period of time. For help in following this 7step marketing strategy program, check out my ebook the 7step easy marketing strategy process. The next three parts of the book focus on the marketing tactics, viewed as a process of designing, communicating, and delivering value. In order to define strategic marketing, you must also consider how this strategy.
Within the definition of marketing is the discussion of a process of planning and ex. This concept is one of the key elements of the overall duct tape marketing system, but i could conduct entire workshops around this one slide as it seems to be the easiest way to explain the marketing process in simple and practical terms. This ebook defines our strategic marketing process, and outlines the key concepts. Building a foundation for your future 4 customer characteristics and purchasing hot buttons provide the information needed to decide whether the firm can and should attempt to gain or maintain a sustainable competitive advantage for marketing to a particular market segment lehmann and winer 1994. Strategic marketing management there are at least four goals of strategic marketing management that need to be understood by those wishing to use strategic marketing management to craft profitable strategies. It helps the organization to achieve competitive advantage. Marketing strategy book a 7step marketing strategy program to drive business results. This marketing strategy book will teach you how to easily implement marketing strategies that will bring real business results when you download the ebook and program the 7step easy marketing strategy process how to maximize business results from your marketing efforts you will have access to all the. Strategic planning process the design and maintenance of define the firms business, mission and goals identify firms opportunities swot.
Christine ennew professor of marketing, nottingham university business. Strategic marketing is aimed as an introduction to strategic marketing management for students on marketing and business strategy courses. Pdf explanation of the strategic marketing management. In most business schools, strategic management is a capstone course that requires students to draw on insights from various functional courses they have completed such as marketing, finance, and accounting in order to understand how top executives make the strategic decisions that drive whether. Strategic management is the management of an organizations resources to achieve its goals and objectives. The strategic marketing planning process helps organizations to identify their goals and develop tactics to achieve them. The strategic marketing process how to structure your marketing. Strategic management involves setting objectives, analyzing the. Mastering strategic management open textbook library. Strategic analysis is essential to formulate strategic planning for decision making and smooth working of that organization. Philip kotlers contributions to the field of marketing philip kotlers status as a major thought leader in marketing is widely. Strategic marketing management implements your companys mission through focused processes to get the most out of your existing marketing plan. Identification of one or more sustainable competitive advantages a firm has in the markets it serves or intends to serve, and allocation of resources to exploit them.
Oct 17, 2015 do you have a strategic marketing process in place. These principles underpin the approach adopted in this book and it is one that provides a novel integration of theory and practice in relation to strategic marketing. The next steps are to complete the planning work, publish, deploy. He holds degrees in economics and communications from the. Knowing the companys problem is required to help management deal with it. This paper proposes a domain statement for strategic marketing as a field of study and delineates certain issues fundamental to the field.
It also proposes a definition for marketing strategy, the focal organizational strategy construct of the field, and enumerates a number of foundational premises of marketing strategy. This textbook introduces the reader to the different approaches and schools within strategic thinking as well as the tools used to investigate the strategic environment surrounding a business. Strategic market planning is an ongoing process through which the company creates marketing strategies and plans its implementations in the target market. The strategic marketing processthis guide was written by the team at. Aug 01, 2008 strategic marketing management 7th edition offers a comprehensive framework for strategic planning and outlines a structured approach to identifying, understanding, and solving marketing problems.
Although this will sound logically, reality is far from simple. Your highlevel conceptualization of how your offering will penetrate. Combining a comprehensive overview of theory with practice, each chapter takes the reader step by step through the strategic marketing. Kotler on strategic marketing by john roberts, alvin silk, glen urban volume editor, and jerry wind 1. To more effectively develop or alter business strategies 3. Its vital to build on the marketing mix and measure success with benchmarks. Strategic marketing is a continuous process of developing marketing strategies taking into consideration the constantly evolving trends in the business environment and by giving utmost importance to customer satisfaction. Moutinho and southern are noted for an innovative and imaginative approach to the teaching of marketing.
It has a clear structure that offers a digest of the five principal dimensions of the strategic marketing planning process. Drucker 1973 strategic marketing as seen as a process consisting of. Clearly, marketing strategy is a commonly used term, but no one is really sure what it means. Strategic marketing is a process of planning, developing and implementing maneuvers to obtain a competitive edge in your chosen niche. By now, so much has been spoken and written about his. It also proposes a definition for marketing strategy, the. Download free ebooks at strategic marketing 64 marketing.
This book, originally published in dutch, provides a uniquely practical approach to strategic marketing planning. Businesstoconsumer marketers b2c follow a similar process, with a few additional subjects like product placement, market demographics and packaging. Using a handbook for strategic planning, the senior leadership team can complete most of the. Bradley 1991 the strategic marketing process, therefore implies deciding the marketing strategy based on a set of objectives, target market segments, positioning and policies walker, boyd, larreche 1992 the primary purpose of a marketing strategy is to effectively allocate and coordinate marketing resources and activities to. A well defined and feasible marketing strategy makes meeting customer needs a likely and attainable goal. Pdf strategic marketing process the heart of marketing kojo. The underlying process for strategic analysis is logical and based on ration al decision making. One of the only things worse than assumptions is ambiguity. When done properly, it is a highly effective marketing method that brings incredible results. This program is easy to follow, and will help you prioritize your marketing activities so you are selecting those activities that will truly increase sales and drive new business. The better definitions are focused upon customer orientation and satisfaction of customer needs. The strategic marketing process 2nd edition marketing mo. Strategic marketing is incorporated in many different marketing and business careers to help organizations make the most profit by understanding what the consumer wants.
Today, we officially released the 2nd edition of our popular ebook the strategic marketing process how to structure your marketing activities to achieve better results. This process is necessary to outline and simplify a direct map of the companys objectives and how to achieve them. The next three parts of the book focus on the marketing tactics, viewed as a process of. The definition of a strategic marketing plan bizfluent. Explanation of the strategic marketing management model and verification of its impacts on increasing the organizational profitability case study. Feb 12, 2020 strategic management is the management of an organizations resources to achieve its goals and objectives. The strategic marketing process is designed for businesstobusiness b2b marketers. Strategic marketing planning colin gilligan, richard.
It is within the context of this strategic plan that the functional areas of marketing, finance, human. The marketing function is often treated as a cost centerad hoc activities that dont provide measurable results that can be tracked to the bottom line. How to document the marketing process in six steps coschedule. The 96page guide defines a marketing process for marketers at small to midsize companies to use to add structure to their daily, monthly and annual marketing and sales activities to improve their results. However, in reality di erent types of biases can inter. Check out our ebook to learn all about this easytofollow 7step marketing strategy process. Strategic management process is an ongoing process of five steps which defines the way an organization makes its strategy to achieve its goals.
Strategic marketing activities over extended period corporate level deal with uncertainties over long time period annual marketing plans. Philip kotlers contributions to the field of marketing philip kotlers status as a major thought leader in marketing is widely recognized. This type of management may help discover other marketing opportunities. The following are the main pros of blog marketing for your business. In this article, we explore, 1 the definition and purpose of strategic marketing, 2 the three phases of the strategic marketing process, 3 guidelines for effective strategic marketing process, 4 problems to expect in the strategic marketing process, 5 p. Define your brand experience think of your brand as a person with a distinct. A name or slogan by defining your brand strategy and using it in every interaction with your market, you define your brand think of your brand. The process covers more than just traditional marketing and ties together all gotomarket business activities. If you dont think strategically about your marketing process, its likely that it wont continue to meet customers needs and expectations over a sustainable period of time. The discussion of the strategic aspects of marketing management includes an indepth analysis of the key principles of creating market value in a competitive context. The primary goal of running a blog marketing strategy is bringing organic.
Businesses should conduct a swot analysis, do market research and define their target market. With the help of strategic planning, the objective or goals that are. In addition, all of the concepts and instructions in the process apply to both product marketing and. Using strategic management process, an organization decides to implement a selected few strategies along with stakeholders, details the implementation plan and. If you havent thought or acted strategically in your marketing process so far, then its never a bad time to go back and recreate the blueprints a successful marketing process is based upon sound understanding of what needs to be done, when to do it, what it would effect, how it is implemented and how it is analysed, measured and reported upon. Strategic planning by stefano senise from thinkstock is licensed under cc by 2. This ebook can be read in combination with and in some cases instead of the following textbooks. Scholars and communication professionals have adopted strategic communication as an umbrella term meant to include a variety of communicationrelated professions, such as public relations, brand communication, advertising, and more. Preface most small to mediumsized businesses struggle with marketing.
Strategic marketing process 10 planning phase longterm 5 yrs vs annual marketing plans long term marketing plans. Strategic marketing builds off of market knowledge to develop a customercentered strategy, or plan and approach, to marketing campaigns with the ultimate goal of profitability for the organization. Teaching the strategic management course can be a challenge for many professors. The strategic marketing process how to structure your. Strategic marketing management 7th edition offers a comprehensive framework for strategic planning and outlines a structured approach to identifying, understanding, and solving marketing problems. These are the steps you should follow to create and execute a winning marketing strategy. This guide defines a marketing process that you can use to put structure. Strategic management process definition, importance, steps. Market penetration is the name given to a growth strategy where the business focuses on selling existing products into existing markets.
Operational developed by mktgproduct managers addresses marketing plans for existing products. Discourse, in contrast to a specific understanding and definition of strategic marketing as the key driver in any valuecreating process. Generally a strategic problem does not emerge over night. Strategic management contents 1 introduction 7 2 the basis of strategy. In addition to strategic marketing for the sme, he is the coauthor of two business books with a. The terms marketing strategy and strategic market planning are often used. A marketing plan establishes the goals and tactics of every marketing campaign. It covers the origins of modern marketing, relates contemporary and classic theory to marketing in both academic and practical terms, providing a solid foundation for the understanding of marketing. Define your brand experience think of your brand as a person with a. Characterizing marketing strategy in terms of evolving differentiation in time and space 66 research in marketing strategy. Strategic marketing planning concentrates on the critical planning aspects that are of vital importance to practitioners and students alike. Strong and strategic marketing plans may be built from. Combining a comprehensive overview of theory with practice, each chapter takes the reader step by step through the strategic marketing process. For business students, the theory advanced in this book is an essential tool for understanding the logic and the key aspects of the marketing process.
Competitive positioning is about defining how youll differentiate your. Strategic management 14th edition, by fred r david. Almost every marketing textbook has a different definition of the term marketing. Strategic marketing is a way of focusing an organisations energies and resources on a course of action that can lead to increased sales and dominance of a targeted market. I find the social marketing process is a great way to mobilize groups and. Strategic marketing management definition bizfluent.
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