What Is Strategic Marketing Management Approach Strategic marketing is a focused approach that aligns every marketing move with big picture business goals aiming to build a lasting competitive edge Unlike traditional marketing which chases short term wins like holiday sales or one off promotions strategic marketing is about creating sustainable growth and loyalty Think of it this way
Unlike tactical or operational marketing which focuses on short term activities Strategic Marketing takes a holistic and forward looking approach to ensure sustainable success This strategy is designed to utilise on opportunities mitigate risks and stay ahead in an ever changing marketplace A well defined and feasible marketing strategy makes meeting customer needs a likely and attainable goal And while most companies do great marketing only a few have created brand attachment and customer loyalty through their marketing practices and tactics In this article we explore 1 the definition and purpose of strategic marketing 2 the three phases of the strategic marketing
What Is Strategic Marketing Management Approach
What Is Strategic Marketing Management Approach
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1 2 What Is Strategic Management Strategic Management
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Strategic Marketing Management Definition Strategic marketing management is a systematic method of establishing an organization s business mission and goals recognizing and outlining opportunities developing product market strategies budgeting monetary and operational resources and reconceptualization Strategic marketing management isn t just about planning it s about continuously adapting and optimizing your approach to stay ahead in a competitive marketplace We ll see how companies like Apple and Tesla have successfully applied these strategies to achieve remarkable success in their respective industries
This phase helps in presenting management with a clear vision of the product s current standing and the organization s image It s a critical phase that ensures smooth progression While marketing strategy is formulated keeping the brand in focus strategic marketing is a 360 degree approach to the organization s entire marketing plan Strategic Marketing Process Phases Given that strategic marketing directly influences many elements of your overall marketing strategy it s important to approach the process carefully Below we ll discuss the different phases of a strategic marketing process 1 Planning Phase The first stage of strategic marketing is the planning phase
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If strategic marketing finds a product then without the help of marketing management the product will not get established in the market and it is vice versa too Thus as the firm grows the company needs two sub departments within marketing at all times Strategic marketing and marketing management What is the purpose of strategic marketing Having a well structured strategic marketing thinking process within an organisation is crucial for guiding the company management in making the right business decisions relevant to the mission vision and values How can I improve my marketing strategy
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