Strategic Marketing

Strategic marketing is a market driven process of strategy development, taking into account
a constantly changing business development and the need to deliver superior customer
value.
Strategic marketing is a set of coherent decision about the firm's approach to the market.
Strategic marketing examines the underlying logic and processes for designing and
implementing market driven strategies.

Characteristics of a market driven strategy: The logic of market driven strategy is that the
customers that form of the market should be starting point in business strategy.
Importantly, market driven strategy provides a companywide perspective, which mandates
more effective integration of activities and processes that impact customer value. Here, a
considerable amount of effort is necessary to build a market driven organizational culture
and processes. The characteristics of market driven strategies are given below:

1. Becoming market oriented: Market operation is a business perspective that makes

the customer the focal point of a company's total operations. a business is market
oriented when its culture is systematically end entirely committed to the continuous
creation of superior customer value. Importantly, achieving a market orientation
involves the use of superior organizational skills in understanding and satisfying
customers. To be market oriented requires involvement of the entire workforce.
A Market oriented organization continuously gather information’s about customers,
competitors and markets. Here, it views the information from a total business
perspective, they decide how to deliver superior customer value end takes action to
provide value to customers.
i. Customer focus
ii. Competitor Intelligence
iii. Cross functional coordination
iv. Performance Implications
2. Determining distinctive capabilities: Identifying an organization's distinctive
capabilities is a vital part of market driven strategy. Capabilities are complex bundles
of skills and accumulated knowledge exercised through organizational process that
enables firms to coordinate activities and make use of their assets. An organizations
capability are not a particular business function, asset, or individual and instead,
consist of core processes of the organization. Michael Porter indicates that-The
essence of strategy is in the activities - choosing to perform activities differently odd
to perform different activities that rivals”. his concept of activity network is
consistently with viewing distinctive capabilities as groupings of skills and
accumulated knowledge which is applied through organizational processes.
3. Customer value or capabilities match
4. Achieving superior performance