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Strategic marketing is the most exciting of all business sports . It is the heartbeat of every successful business . It is continually changing in response to the explosion of information , the expansion of technology , and the aggressiveness of competition , at all levels and everywhere . for a natural value proposition .
MARKETING

Is There Any Need For Strategic Marketing For Business Today ?

By Joe Nyutu

Strategic marketing is the process in which a firm effectively differentiates itself from its competitors by capitalizing on its strengths to provide consistently better value to customers than its competitors . Equipped with a thorough understanding of the organization ’ s capabilities and aspirations , the customer market and the competitive landscape , the thrust of strategic marketing is to maximize a firm ’ s positive differentiation over competitors in the eyes of its target market .

Strategic marketing management is the process of implementing your business ’ mission through specific and strategic processes in order to maximize your current marketing plan . Strategic marketing management is more detailed than a standard marketing plan . 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 .
Business to Business marketing ( B2B ) has both strategic and operational components . While operational marketing ( marketing management ) is concerned with developing a suitable marketing mix to realize a set of defined business goals , strategic marketing on the other hand is concerned with defining what the business needs to ‘ be and become ’ to consistently beat the competitors by delivering consistently better value .
The importance of strategic marketing is to decide : which markets to compete in ( where to compete ), what the basis of the firm ’ s competitive advantage is going to be ( how to compete ), and when and how the firm will enter each market ( when to compete ).
There are four principles of strategic marketing management : specialization , differentiation , segmentation , and concentration . Specialization The first principle to keep in mind is to decide where the company want to specialize . What is the domain , product , service , client , or market on which you want to concentrate your efforts ? The company can always experiment with offering variety . But specialization gives an identity to your brand and makes

Strategic marketing is the most exciting of all business sports . It is the heartbeat of every successful business . It is continually changing in response to the explosion of information , the expansion of technology , and the aggressiveness of competition , at all levels and everywhere . for a natural value proposition .
The second principle is differentiation . This means the distinct competitive advantage and what makes the company unique and superior to the competition . Customers need an incentive to buy from your company rather than your competitors . Customers are constantly looking for the most fabulous offer ; nothing personal about this . Customers simply want the most outstanding product at the best price .
Segmentation is the third principle of strategic marketing management and notice today ’ s strategic marketing management is all about marketing segmentation . Segmentation entails determining which customers in the market value the company ’ s distinctiveness and are willing to pay more for the organization ’ s area of specialization . Marketing teams need to segment and discover those clients who are most likely to buy from their companies . Some questions to consider : who are the clients who value the company ’ s area ? What is their demographic ? What words would the company use to define its ideal customer ?
Concentration comes in as the fourth principle where the argument is that a strategy is useless if the company does not focus on people . The final , most crucial principle of strategic marketing management is concentration . Once the company has identified the most significant market segments where its offering will do exceptionally well , it devotes all of its efforts , resources , budgets , and time to obtaining and retaining customers in these areas . Product management tools come in handy for team alignment and generating customer feedback .
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