Strategic Marketing Process
focused- relatively small but profitable
-clear and concerted direction for all
marketing activities
-to reach specific goal/objective
Strategic Marketing Process
 Mission identification
 Situation analysis
 Objective setting
 Marketing strategy development
 Strategy evaluation and control
Mission Identification
-foundation
-company’s mission is articulated
- defines what an organization is, why it
exists
Situation Analysis
-SWOT
- evaluates the market, customers,
competitors and company’s internal &
external environment
Objective Setting
-SMART
-specific, measurable, attainable, realistic,
time-bound
- basis for strategy selection & development
Marketing Strategy Development
- market segmentation, identification of
target market etc.
> Strategies
1. cost leadership- achieving low cost
leadership among industry competitors
2. differentiation- superior product attributes
and features
3.
market
SUBCATEGORIES OF STRATEGIES
1. Forward Integration- gaining
ownership
2. Backward Integration- increased
control over suppliers
3. Horizontal Integration- control over
competitors
4. Market Penetration- increase market
share of current products or services
5. Market Development- intro of
existing products/services into a new
geographical area
6. Product Development- improvement
of current products w/ the purpose of
increasing sales
7. Related Diversification- new but
related products/services
8. Unrelated Diversification- new but
unrelated products/services
9. Retrenchment- reversing declining
sales & profits through cost / asset
reduction
10. Divestiture- selling a division/ part
of an organization
11. Liquidation- selling of all a
company’s assets
Strategy evaluation and control
-periodic monitoring and evaluation are
needed
-to identify deviations & make necessary
adjustments, corrections
Tactical Marketing Process
-the means/tactics to implement the
strategies
-identification of specific activities
Tactical Marketing Process
 Marketing Strategies
 Action Plans/ Tactics
 Marketing Activities
 Activity Timetables
 Responsibility/ Accountability
 Activity Budgets
 Monitoring and Control
Action plan- sequential series of marketing
activities
The Marketing Microenvironment
- Forces that are internal to the
company
- Relevant to its operation
- Affect the company’s ability to build
& maintain sustainable relationships
w/ customers
The Company
-research and development
- aligned with the organization’s goals and
strategies
Suppliers
-provide raw materials
-to continuously satisfy customers
Market intermediaries
- channels that link the organization to
customers
Customers- create demand for
products/services
Competition- critical to the success of the
firm
-competion is not static and is very volatile
Publics- individual/entity w/ an actual or
potential interest in the company