Strategic Marketing

Assignment 3

Submitted by:

Tausif Iqbal

400819

Submitted to:

Dr. Sobia Asghar

Date:

07-12-2022

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 Role of strategic marketing in any organization

What is strategic marketing?

Strategic marketing is a method through which an organization 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 organization’s positive
differentiation over its competition through the consumers’ perspective.

The implementation of strategic marketing involves three questions, which include:

 Where to compete
 How to compete
 When to compete

Phases of strategic marketing:

 Planning phase: In this phase, the various aspects of an organization, such as its
strengths, weaknesses and technology are assessed. The overall state of the organization
is also presented to the management. This phase comprises of four components, which
include:
 SWOT analysis: This method analyses the strengths, weaknesses, opportunities and
threats related to the organization. The results of this analysis help in developing a
strategic marketing proposal for the organization.
 Marketing mix strategy: Once the SWOT analysis has been conducted, a proper
marketing mix strategy is then prepared. Marketing mix strategy consists of combining
and analyzing a variety of components that help in strengthening a company’s brand and
in selling its products or services.

Difference between strategic marketing and market strategy:

Strategic Marketing Market Strategy

Strategic marketing is a method through
which an organization differentiates itself
from its competition by focusing on its
strengths to provide better service and value
to its customers
This is a planning process and it involves
three phases
This is related to the management level as it
involves determining budgets, allocation of
resources and improving product quality.
This is an organization’s plan to target people
and convert them into consumers of the
organization’s products and services.
This plan is an implementation of a
predefined strategy
This strategy does not involve the higher
management, as it only includes creating
marketing strategies for a particular product
or service. The strategies could consist of a
promotional plan, distribution and price of the
product.

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 This covers the marketing goals of the
organization as a whole and includes all
products.
This a process that is put in place to achieve
organizational goals.
Strategic marketing analyses various factors
such as organization performance,
competition environment, competitors and
demographic behavior of customers in order
to achieve organizational goals.
This is restricted to the marketing goals and
strategy of a single product or service.
This is a part of one of the functional
strategies that help in achieving
organizational goals.
A marketing strategy focuses on the products
and services of an organization and their
positioning in relation to attracting customers.

Importance of strategic marketing in an organization:

 Helps in evaluating the current environment: Strategic marketing helps in assessing

the positioning and performance of an organization. It is important to know what
resources are at the disposal of an organization at any given time. The data that is
collected helps in understanding how well an organization is performing within the
overall competitive environment. This will also help the organization 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 organization with high profits. This is because strategic
marketing starts off by conducting a SWOT analysis of the organization, 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.

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