Question No.

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Seven definitions of Strategic Marketing.

1. Strategic Marketing is a process of planning, developing and implementing

maneuvers to obtain a competitive edge in your chosen niche. (Anastasia
Belyh, The Strategic Marketing Process: A Complete Guide, 2019.)

2. Strategic marketing is a methodology of analysis and knowledge of

the market, with the aim of detecting opportunities that help the company to
meet the needs of consumers in a more optimal and efficient way, than other
competitors. (Umar Farooq, What is Strategic Marketing | Functions &
Examples, 2017)
3. Strategic marketing is a method through which an organisation
differentiates itself from its competition by focusing on its strengths to
provide better service and value to its customers. In a nutshell, the goal of
strategic marketing is to make the most of an organisation’s positive
differentiation over its competition through the consumers’ perspective.
(Varun Mehta. The Role of Strategic Marketing in an Organisation, 2019)

4. Strategic Marketing is the use of marketing disciplines to achieve

organizational goals by developing and maintaining a sustainable
competitive advantage. It addresses high-level considerations such as what
markets to target, which services to offer and how to price and promote
them. ( LEE FREDERIKSEN, PH.D. Strategic Marketing for Professional
Services, 2020).

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5. Strategic marketing can be defined as the aim of identifying or
designing a plan of action to satisfy customer needs and achieve long-term
objectives of company i.e., increasing productivity and profitability of the
company as well as improving its overall performance. Strategic marketing
moves with a well researched written strategic marketing plan that explains
what type of marketing techniques or programs are going to be used within
the given time frame and how these programs will be implemented in the
near future. (Terms compared. Difference between marketing and strategic
marketing, 2019.)

6. Strategy marketing is …an organization’s integrated pattern of decisions that

specify its crucial choices concerning products, markets, marketing activities
and marketing resources in the creation, communication and/or delivery of
products that offer value to customers in exchanges with the organization
and thereby enables the organization to achieve specific objectives.
(Valentina Kirova. Exploring the Role of Strategic Marketing Department,
2017).

7. Strategic Marketing is the way a firm effectively differentiates itself from its
competitors by capitalising on its strengths (both current and potential) to
provide consistently better value to customers than its competitors.
(Varadarajan, R. Strategic marketing, marketing strategy and market
strategy. 2015)

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Question No. 2 Give a framework of Strategic Marketing

MARKET ANALYSIS

The market analysis studies the attractiveness and the dynamics of a special market
within a special industry. It is part of the industry analysis and thus in turn of the
global environmental analysis. Through all of these analyses, the strengths,
weaknesses, opportunities and threats (SWOT) of a company can be identified.
Finally, with the help of a SWOT analysis, adequate business strategies of a
company will be defined.[1] The market analysis is also known as a documented
investigation of a market that is used to inform a firm's planning activities,
particularly around decisions of inventory, purchase, work force
expansion/contraction, facility expansion, purchases of capital equipment,
promotional activities, and many other aspects of a company.

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MARKET SELECTION

Market Selection is the process of deciding which markets to invest in and

pursuing. One of the major criteria to be kept in mind while doing a market
selection is the growth potential of the market i.e. what is the potential for a
company’s revenue to grow by investing in a particular market.

MARKETING MIX 

The marketing mix refers to the set of actions, or tactics, that a company uses to

promote its brand or product in the market. The 4Ps make up a typical marketing
mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix
increasingly includes several other Ps like Packaging, Positioning, People and even
Politics as vital mix elements.

CUSTOMER ACQUISITION

Customer acquisition refers to bringing in new customers - or convincing people

to buy your products. It is a process used to bring consumers down the marketing
funnel from brand awareness, intrest to purchase decision (Action).