Strategic Marketing

Strategic Marketing Lecture 1

Strategic Marketing
Strategic Marketing is the approach adopted by a firm effectively with the objective to differentiate its
products and services from its competitors through capitalizing on its strengths (both current and
potential) to provide consistently better value to customers than its competitors. In principle strategic
marketing is that simple, but it means a lot more than getting creative with the marketing mix. Strategic
marketing is the answer of three questions of where, how and when the business competes.

1. Market Driven Strategy

 Characteristics of market-driven strategies

o Becoming marketing oriented
o Customer focus
o Competitor intelligence
o Cross functional coordination
o Performance implications
o Determining distinctive capabilities
 Organizational processes
 Skills and accumulated knowledge
 Coordination of activities
 Assets
 Classifying capabilities
 Capabilities and customer value
 Creating value for customers
o Customer value

Providing value to customers

 Becoming customer driven

 Marketing sensing capabilities
 Customer linking capabilities
 Aligning structure and processes

2. Corporate, Business and Marketing Strategy

 Corporate strategy
o Component of corporate strategy
o Corporate strategy framework
 Deciding corporate vision
 Objectives
 Resources
 Business Composition
  structure, systems and processes
 Business & Marketing strategy
o business and marketing strategy relationships
o strategic marketing
 Marketing strategy process
o markets, segments, and customer value
 four points
o designing market-driven strategies
o marketing driven program development
 strategic brand management
 value-chain strategy
 pricing strategy
 promotion strategy
o implementing and managing market-driver strategy
 designing market-driver organizations
 marketing strategy implementation and control

3. Strategic Marketing Challenges

 Escalation of globalization
 Technology diversity and uncertainty
 Internet dynamics
 Ethical behavior and corporate social responsiveness

4. Strategic Marketing Planning

 Developing the strategic plan for each business

 Preparing the marketing plan
o Planning relationship and frequency
o Planning considerations
 Responsibility for preparing plans
 Planning unit
o Preparing the marketing plan
o Outline for preparing an annual marketing plan

() () () () () () () () ()