UNIT-1

1)Definition of strategic marketing management

Strategic marketing management is the process of implementing your business’ mission through
specific and strategic processes in order to maximize your current marketing plan.
2) Role and Importance
Role
The idea behind strategic marketing management is to adapt to your market as things change
around you. The goal remains the same, but the path that leads you towards your goal can
change.

The benefits of implementing strategic marketing management are fairly recognizable in the
business world. Here are a few of the advantages in implementing a strategic marketing strategy:

 A better understanding of the market

The research involved in properly implementing strategic marketing management will inevitably
end in a better understanding of your given market. Research regarding domestic and
international markets, competition, and market trends will need to be conducted.

 Helps identify the strategic direction

Strategic marketing management involves making better decisions that align your plan with the
company’s goals. 

 Can have a big pay off

If implemented correctly, strategic marketing management can yield some impressive results for
a business. The result could be a better handle on budget, and an overall increase in the longevity
of a business.

All in all, there are many advantages to this style of management. By implementing strategic
marketing management, you’re making strategic decisions to better your business and your
understanding of the market as a whole.

The importance of strategic marketing in an organisation:

 Helps in evaluating the current environment: Strategic marketing helps in assessing
the positioning and performance of an organisation. It is important to know what
 resources are at the disposal of an organisation at any given time. The data that is
collected helps in understanding how well an organisation is performing within the
overall competitive environment. This will also help the organisation in planning for
future strategic marketing activities or plans.
 Helps in establishing clear marketing objectives: Having a strategic marketing plan in
place helps in establishing achievable marketing objectives. The objectives should have a
specific time-frame and should be measurable.
 Streamlines product development: Strategic marketing helps in creating products and
services that provide the organisation with high profits. This is because strategic
marketing starts off by conducting a SWOT analysis of the organisation, a market
analysis of the consumers and the existing trends in the market. This information is then
used to create the optimal products and services for the consumers.

3.Systematic approach
5.  System Approach:

The system approach can be defined as “a set of objects together with the relationships among

them and their attributes.” Systems focus on interrelations and interconnections among the

functions of marketing. The system examines marketing connections (linkage) inside as well as

outside the firm. Inside the firm there is a co-ordination of business activities-engineering,

production, marketing, price etc.

On the basis of feedback information proper control is exercised to modify or alter in the
producing process, so that the desired output can be produced. Here, the aim is to secure profit
through customer-satisfaction. Markets can be understood only through the study of marketing
information. For instance, business is composed of many functions, which are composed of sub
functions. Each function or sub-function is independent, but interrelated and enables the other to
achieve marketing objectives

A systematic approach to decision making assumes that this process takes place in six stages:
•Problem identification
• Identification of factors affecting decision making
• Collection of necessary information
• Decision-making
• Development and implementation of a plan
• Evaluation of the results

4.Sequencing
1. A consumer first becomes aware of the brand or product announcement through a third-
party article, social media share, display/banner ad, press release, or email.

2. Next, a consumer clicks an organic listing or PPC ad that is relevant to their intent (find a
solution, learn more, etc.).

3. Brand-sponsored thought leadership or marketing content is served, which targets

(hopefully through structured authoring) the user’s intent. Alternatively, another display ad is
shown through retargeting based on a cookie placed on the first visit.

4. A click-through from that page serves additional category information with links to
brand-relevant assets such as a white paper or case study to download, ideally through a lead
generation (if B2B) form to gather additional user information.

5. Calls to action (CTAs) within brand-relevant assets (white papers) or in-product

messaging with a freemium version serve to upsell additional features and benefits.

6. These assets drive deeper engagement with the brand via the website or within the
product.

7. The consumer upgrades to a paid product (if B2C), is contacted by sales (if B2B), or
otherwise stays engaged with the brand through social media or further thought leadership
pieces.

5.Scheduling and initiatives of activities

1. Outline your goals

Which explicit goals should be set for the marketing campaign? How do we quantify success?
What reaction mechanism will be most operative?

It is important to define what is it that you want to accomplish; the central intentions of the
campaign. Goals are subjective and can vary from company to company. For example, a brand
may be looking for new clients, a higher loyalty of existing ones, to encourage these to devote
more time and money to the brand. Goals and objectives can be boundless, but it is vital that you
describe yours.
 The key idea is to come up with goals that are achievable– being creative is being productive –
however, it must also be taken into consideration that not every idea can be successfully
executed. Thus, goals must be accustomed to the accessible resources.

2. Define the target audience

Regardless of the type of business or sector you are involved in, it is imperative to define the
target audience at which the marketing campaign is directed. It, therefore, becomes necessary to
know the probable customers of your product, so that you can carry out research around their
needs, also outlining the central abilities of what you are endorsing and how they will arouse
customers’ interest.

While conducting the research, it is important to ask yourself the following questions:

 Which part of the market are you targeting? What type of content or campaign will
resonate with those views?
 What are the subjects that are popular with your audience? Which of your campaigns has
resonated previously? Which ones have been disastrous?

Ask yourself repeatedly how you can provide as much as possible to your visions. At the end of
the day, customers will always be thankful as long as they get what they want.

3. Review the budget

While conducting research on the needs and demands of the target audience, it is also necessary
to know their purchasing power. It would also be best to provide an approximation of the profit
that will be reached with the marketing campaign.

To guarantee a fruitful marketing campaign, it is fundamental that the company’s profit is higher
than what was consumed on the campaign itself. Just as it is also crucial that the campaign is
realistic, that the company’s financial plan can cover the rate of the marketing campaign that is
being scheduled.

4. Use of appropriate media

There are many different options including newspaper, radio, TV, online marketing, etc. and
various other media outlets. Now, what’s important is to select the one that perfectly fits your
ideation and message, the company image that you want to portray and the product you want to
advertise.

The choice becomes stress-free when you are already aware of the campaign objectives, your
target audience and what their inclinations are, along with the fact that you already know
the competitive marketplace in which the campaign will be introduced.
 5. Create a powerful message

The message should be effective and well-suited for the target audience. Different sorts of
audiences have different interests, preferences, and customs that individualize them as a crowd.
Therefore it is extremely important to give significance to this content as a whole when
developing a message to communicate.

Once the idea has been decided, you need to write and create a perceptible campaign, where it is
necessary to communicate in a strong and engaging way. Pick the correct words and images,
since the mind often needs just 3 seconds to express interest in the campaign and respond or
simply overlook it and turn its consideration to something else.

6. Use mobile apps to plan your digital marketing campaign

The new marketers can get huge profits from the mobile app revolution. Effective marketing
software is becoming exceedingly accessible in the form of apps, making data and tools freely
available on the go. Whether it is uploading blog posts or tracing campaign metrics, apps enable
marketers to access information at their fingertips speedily and conveniently.

Following are some of the most effective apps for a digital marketer:

 Created back in 2008, Hootsuite is a well-known social media console that allows you to
post, monitor and quantify your social media sites. It provides prompt and suitable access to all
your social media networks, also providing analytics to assist you in increasing your following
and traffic. Hootsuite can be downloaded on iOS and Android devices.
 Buffer enables you to schedule and track your social media accounts at once.
Instantaneously program content for your Twitter, Facebook, Instagram and LinkedIn accounts
and analyze data on how your posts perform.  Set your updating schedule for every account and
make buffering patterns for different times during the week according to the target audience.
Buffer can be downloaded on iOS and Android devices.

7. Estimate the campaign’s outcomes

It is crucial to measure the efficiency of the campaign, and the quantifiers will be influenced by
the media used. The key idea is to select a method that accurately evaluates, and as close to
authenticity as possible, the outcomes of the campaign. Also, it is important to examine the
campaign from the beginning so that features can be adjusted or upgraded as you go along,
consequently allowing the comprehension of the determined goal.

After studying all these ideas, it can be established that the requirement for scheduling your
marketing campaign is necessary for its implementation. Actually, you cannot have a rising
campaign without the proper research, information, organization, and planning of all
characteristics regarding the company’s in-house environment, the image it aims to portray to the
outside environment
 Resource requirements
The resources you need to start a business can be broken into five broad categories: financial,
human, educational, emotional and physical resources.

Financial Resources: Funding 

The most important element in starting a business is funding. Even the most basic home
business incurs a multitude of startup costs, including registering a business name, obtaining a
business telephone line and printing business cards.

Financial resources can be obtained from a variety of sources, the easiest being from the
personal accounts of the company’s founder. Alternatively, loans and lines of credit may be
granted from financial institutions, friends and relatives, private investors and even the United
States government. In addition, many grants are offered from private and public sources to
entrepreneurs of all demographics and personal situations.

Human Resources: Employees

The success of an organization is heavily reliant on the talent and strength of its employees.
The hiring of experienced professionals with track records of excellence within their area of
expertise ensures that the mission and goals of the company will be carried out efficiently and
with competence. Strong team members can be recruited using a variety of methods. Staffing
agencies and executive search firms specialize in placing talent of all levels within every
industry. An alternative is to find employees through referrals from individuals whose
judgment is trusted.

Educational Resources: Industry Know How

Perhaps the greatest thing an entrepreneur can do when establishing a new business is to gain
as much education possible. By understanding her competition and gaining an in-depth
knowledge of her industry, she will be better prepared to make smarter decisions regarding the
direction of her firm. Educational resources can be found through professional trade
associations that are geared toward her industry, her local chamber of commerce as well as the
Small Business Administration.

Physical Resources: Premises and Equipment

Whether a small home business or a retail operation with multiple locations, every organization
must have the appropriate physical resources to survive. This includes a proper work space,
working telephone line, adequate information systems and effective marketing materials. This
aspect of business planning can be one of the costliest. As such, it is important for an
entrepreneur to realistically assess his needs before making any purchases.

Emotional Resources: Support Systems

Starting a business can be an extremely stressful endeavor for an entrepreneur to undertake. To
maintain her sanity as well as stay motivated, it is important she have a support team that can
give her inspirations and guidance as needed. This team may be composed of friends and
family as well as a mentor or professional group

Time scaling

Time scaling or time stretching is the process of slowing down or speeding up an audio signal

without changing the pitch.

Strategic Marketing process/

Marketing strategy objective setting

The elements of a plan

There are nine major steps required to develop a well-crafted, strategic marketing plan: set your
marketing goals, conduct a marketing audit, conduct market research, analyze the research,
identify your target audience, determine a budget, develop specific marketing strategies, develop
an implementation schedule for the strategies and create an evaluation process.

1. Set your marketing goals/. Once you’ve decided to market your practice, you need to set
realistic and measurable goals to achieve over the next 18 to 24 months. This time span allows
you to plan activities around community events that are in line with your marketing goals. For
example, you might help sponsor an annual walkathon for breast cancer or speak at your
community’s annual health fair. Because of the rapid changes occurring in the health care
environment, we don’t recommend planning specific activities more than two years in advance.
One way to define your goals is to separate them into the following three categories: immediate,
one to six months; short-term, six to 12 months; and long-term, 12 to 24 months. Here are some
examples of measurable goals:

 Increase the number of new patients seen in the practice by 5 percent within the first six
months and 10 percent by the end of the first year.

 Shift your patient mix by expanding the pediatric and adolescent patient base from 15
percent to 25 percent of total patient visits within 18 months.

 Increase your gross revenue by 30 percent within 24 months.

  Improve your practice’s image, which may be measured by “before” and “after” scores
on a community survey or by reviews from focus group participants.

It’s important to share these goals with your staff members. They can tell you from their
perspectives whether they believe the goals are reasonable. If you want your marketing plan to
be successful, your staff needs to support your efforts to achieve the marketing goals.

2. Conduct a marketing audit. A marketing audit is a review of all marketing activities that
have occurred in your practice over the past three years. Be as thorough as possible, making sure
to review every announcement, advertisement, phonebook ad, open house, brochure and seminar
and evaluate whether it was successful.

3. Conduct market research. The purpose of market research is to draw a realistic picture of

your practice, the community you practice in and your current position in that community. With
this research, you can make fairly accurate projections about future growth in the community,
identify competitive factors and explore nontraditional opportunities (such as offering patients
nutritional counseling, smoking-cessation programs or massage therapy). Your research may
even bring to light some problem areas in your practice as well as solutions you can implement
right away. (See “A guide to market research” to find out what kind of information you need to
gather and where to find it.)

Conducting market research is often the most time-consuming step in this process. However, it’s
also one of the most important steps. It’s from this research that you’re able to find out what your
practice does best and what you need to work on, what the needs of your community are, who
your practice should be targeting and how you should go about it.

4. Analyze the research. Next, you need to analyze the raw data you collect and summarize it
into meaningful findings that will be the foundation for determining which marketing strategies
make the most sense and will get the best results for your practice The research will identify the
wants and needs of your current and potential patients and will help you to define your target
audience (for more on target audiences, see step 5, below). This is also a good time to look back
at the goals you’ve chosen. Based on your research findings, you may need to modify some of
your goals.

5. Identify a target audience. With the help of your market research analysis, you should be
able to identify your practice’s “target audience,” which is the specific group of patients to which
you’d like to direct your marketing efforts. Your target audience might include patients of a
certain age, gender, location, payer type or language/ethnicity and patients with certain clinical
needs. Keep in mind that your target audience should not only be the patients you want to attract
but also the people who can influence and provide exposure to that segment of the population.
For example, if you wish to treat patients with arthritis, you might want to get involved in the
local and regional Arthritis Foundation and explore senior organizations in the community. If
you want to treat young athletes, you might consider giving talks on sports safety and first-aid
tips to coaches and athletes at the local high schools, colleges and YMCAs. The key to marketing
lies in targeting the audience that your practice can serve better than your competition – and
communicating this to that group.

6. Determine a budget. Before you can decide what specific marketing strategies you want to
implement to achieve your goals, you need to examine your financial information and come up
with a marketing budget. Marketing budgets vary by the type of market a practice is in, the age
of a practice and whether the practice has marketed before. There’s no standard for how much a
practice should spend. However, in our experience, practices in open markets have spent 3
percent to 5 percent of their annual gross incomes on marketing. If your practice is new, in a
highly competitive market or has never been marketed before, or if you intend to roll out an
ambitious new program or service, you can expect to spend 10 percent or more of your annual
gross income the first year you implement the plan.

Some of the initial marketing activities can be expensive. For example, it can cost more than
$5,000 to have a corporate image package (i.e., logo, stationery and collateral pieces) developed
by a professional and as much as $10,000 if you add a brochure. On the other hand, some of the
best marketing activities cost practically nothing. For example, to build your referral network,
you might try meeting with new physicians in your community and sending follow-up/thankyou
notes to referring physicians. Big or small, these are all worthwhile investments that will give the
community a positive image of your practice.

7. Develop marketing strategies. With your budget in place, you can begin to define specific
marketing strategies that will address your goals, reach your target audience and build your
patient base. Remember to focus your strategies on the elements of your practice that can be used
to create a special value in the minds of patients and referral sources. Each strategy should be
related to a specific goal and should be made up of numerous actions. For example, one strategy
related to the goal of increasing patient satisfaction might be to make the office more patient
friendly. The actions required for that strategy might include the following:
  Provide patient satisfaction training sessions to staff;

 Develop a patient self-scheduling system within the practice Web site to eliminate the
need to telephone the office for an appointment;

 Improve the reception-room decor;

 Provide name tags for staff;

 Require staff to introduce themselves to each new patient;

 Conduct post-encounter telephone interviews with new patients within three days of their
appointments.

[Watch for an upcoming article in FPM about specific, cost-effective marketing actions you can

try in your practice.]

8. Develop an implementation schedule. An implementation schedule is a time-line that shows

which marketing actions will be done when and by whom. The schedule should also include the
cost of each marketing action and how it fits into the budget estimates for the 24-month period.
When creating the schedule, carefully consider how the activities will affect the current practice
operations and whether there are sufficient resources (such as staff, time and money) to
accomplish the necessary tasks. In some cases, it may be necessary to whittle down the list or
postpone some activities. In other cases, it might be best to go ahead with full implementation of
your plan. If you want to fully implement the plan but don’t quite have the staffing resources,
you might consider bringing in a consultant to coordinate the marketing activities and/or adding
a part-time staff member to handle the majority of the marketing tasks. The implementation
schedule will also give you a basis on which to monitor the progress of your marketing plan.

9. Create an evaluation process. The value of a marketing plan is its effectiveness, which

requires deliberate and timely implementation and monitoring and evaluation of results. It’s
important to measure your results against the standards you set in establishing your goals.
Review your plan periodically (we recommend quarterly) by comparing your progress with the
implementation schedule. There are several ways you can measure the results of your progress:
patient survey scores, referral sources, increased income, increased new patients and decreased
complaints.
 Strategic Market Analysis
SWOT Analysis

SWOT analysis is a market analysis tool that takes into account the Strengths, Weaknesses,
Opportunities, and Threats facing a business. This information can be used to mold a business’s
overarching strategy. However, you could also apply SWOT analysis to an individual business
venture, which would help analyze the strategy for that single venture.

PEST Analysis

PEST analysis is another incredibly popular market analysis tool. This time, you look at the
Political, Economic, Social, and Technological factors affecting a given market or industry.
Since PEST analysis focuses on entire markets, it’s better for shaping an overall business
strategy than analyzing individual decisions.

Porter’s Five Forces Analysis

Porter’s Five Forces analysis is a significantly less frequent market analysis tool, but it’s still
equally valid. It accounts for five factors — the five forces:

 Supplying power
 Buying power
 Competition
 Threat of substitution
 Threat of new entry

Mission statement
A mission statement is a short statement of why an organization exists, what its overall goal is,
identifying the goal of its operations: what kind of product or service it provides, its primary
customers or market, and its geographical region of operation.[1][2] It may include a short
statement of such fundamental matters as the organization's values or philosophies, a business's
main competitive advantages, or a desired future state—the "vision".[1][3]
A mission is not simply a description of an organization by an external party, but an expression,
made by its leaders, of their desires and intent for the organization. The purpose of a mission
statement is to communicate the organisation's purpose and direction to its employees,
customers, vendors, and other stakeholders. A mission statement also creates a sense of identity
for its employees. Organizations normally do not change their mission statements over time,
since they define their continuous, ongoing purpose and focus.[4]
According to Chris Bart, professor of strategy and governance at McMaster University,[5] a
commercial mission statement consists of three essential components:[6][failed verification]

1. Key market: the target audience

2. Contribution: the product or service
3. Distinction: what makes the product unique or why the audience should buy it over
another

Bart estimates that in practice, only about ten percent of mission statements say something
meaningful.[5] For this reason, they are widely regarded with contemp
Advantages

Provides direction: Mission statements are a way to direct a business into the right path. They
play a part in helping the business make better decisions which can be beneficial to them.
Without the mission statement providing direction, businesses may struggle when it comes to
making decisions and planning for the future. This is why providing direction could be
considered one of the most advantageous points of a mission statement.
Clear purpose: Having a clear purpose can remove any potential ambiguities that may surround
the existence of a business. People who are interested in the progression of the business, such
as stakeholders, will want to know that the business is making the right choices and progressing
more towards achieving their goals, which will help to remove any doubt the stakeholders may
have in the business.
A mission statement can act as a motivational tool within an organisation, and it can allow
employees to all work towards one common goal that benefits both the organisation and
themselves. This can help with factors such as employee satisfaction and productivity. It is
important that employees feel a sense of purpose. Giving them this sense of purpose will allow
them to focus more on their daily tasks and help them realise the goals of the organisation and
their role.[7][8]
Disadvantages

Although it is mostly beneficial for a business to craft a good mission statement, there are some
situations where a mission statement can be considered pointless or not useful to a business.
Unrealistic: In most cases, mission statements turn out to be unrealistic and far too optimistic.
An unrealistic mission statement can also affect the performance and morale of the employees
within the workplace. This is because an unrealistic mission statement would reduce the
likelihood of employees being able to meet this standard which could demotivate employees in
the long term. Unrealistic mission statements also serve no purpose and can be considered a
waste of management's time. Another issue which could arise from an unrealistic mission
statement is that poor decisions could be made in an attempt to achieve this goal which has the
potential to harm the business and be seen as a waste of both time and resources.
Waste of time and resources: Mission statements require planning. This takes time and effort
for those who are responsible for creating the mission statement. If the mission statement is not
achieved, then the process of creating the mission statement could be seen as a waste of time for
all of the people involved. A lot of thought and time can be spent in designing a good mission
statement, and to have all of that time wasted is not what businesses can afford. The wasted time
could have been spent on much more important tasks within the organisation such as decision-
making for the business.

6 Marketing Organizational Structure

1. Functional Organizational Structure

The functional structure departmentalize an organization based on a common job. An example of
this is the marketers would be together in one department, the salespeople would be in a separate
department, and so on.
Disadvantages
This type of structure creates barriers between different functions and can also limit peoples’
knowledge and communication with other departments.

2. Product-Based Divisional Structure

In product-based divisional structure, each division is dedicated to a particular product line. This
structure is ideal for organizations that have multiple products.

Disadvantages
It can be difficult to scale, and the organization could end up with duplicate resources.
3. Market-Based Divisional Structure
In market-based divisional structure, the divisions of an organization are based around markets,
industries, or customer types. This structure is ideal for an organization that has products or
services that are unique to specific market segments.

Disadvantage
Too much autonomy within each market

4. Geographical Divisional Structure

This structure is based on geography. The divisions of a geographical structure can include
territories, regions, or districts.
Disadvantages
It can be easy for decision-making to become decentralized, and you can run into the risk of
creating campaigns that compete with other divisions across your digital channels.

5. Process-Based Structure
Process-based organizational structure is designed around the end-to-end flow of different
processes. To understand the diagram below, you need to look at it from left to right: the
customer acquisition process cannot start until you have a fully developed product to sell
Disadvantages
This structure can erect barriers between the different process groups, which leads to problems
communicating.

6. Matrix Structure
Matrix structure is when all employees have dual reporting relationships. When looking at this
type of chart, solid lines represent strong, direct-reporting relationships, whereas dotted lines
indicate that the relationship is secondary or not as strong.
Disadvantages
The key word is complexity. There more layers of approvals employees have to go through, the
more confusing it is.

Figuring out what type of organizational structure your construction company should use can be
difficult. Leave a comment below on what organizational structure your company uses.

Corporate responsibility and ethics - dynamic strategy.

. Adopt a business code of ethics
A business code of ethics will outline employee conduct on issues such as ethics, values,
environment, diversity, employee respect and customer service.

More and more entrepreneurs are choosing to go one step further by changing their governance
document to include their commitment to social and environmental goals.
2. Follow a workplace health and safety program
Creating a clear workplace health and safety program will help you establish reliable systems to
protect your employees and prevent accidents and injuries. It will also ensure you are compliant
with government legislation on health and safety.

3. Commit to protecting the environment

Develop policies and practices that allow your company to fulfill your commitment to the
environment. For example, you can consider producing a report that documents your activities
and results as they relate to your environmental impact. Some companies produce broader
“sustainability” reports, which encompass social, economic and environmental activities.
4. Get your suppliers on board
Ensure your suppliers know and meet your expectations of responsible behaviour regarding
issues such as fair pricing, for example. Screen them to determine their past conduct, and tell
them what you expect.

5. Be smart about donating money

Get behind causes that are meaningful for your business. A forestry business, for example, might
choose to support organizations that protect the environment. Many manufacturing businesses
donate to community organizations in towns where they have plants. The idea is to give back to
society, while at the same time sending a message about the values of your brand.

6. Don’t greenwash your business

Use marketing techniques that are fair and honest, and that reflect your company’s integrity.
Avoid any advertising or communication that could be seen as manipulative or harmful to the
public. Make sure you walk the talk and that your company does what it says it does, otherwise
your company could risk a customer backlash.

7. Explore B Corp certification

Many public and society-minded entrepreneurs are choosing to get B Corp certified. B Corps are
certified “beneficial” companies. Their purpose is to create value for society as well as money.
They meet high standards of transparency and accountability, and create positive social and
environmental benefit