Strategic Marketing - 3492 Words

Strategic Marketing Contents Abstract Strategic marketing is the plan and roadmap of an organization which help to fit the marketing objectives with corporate vision. An organization’s ultimate target is to achieve competitive advantage in the market. Strategic marketing assists an organization to implement its marketing strategies to create positioning in the market so it becomes easy to achieve competitive advantage. TechCom Electra, an organization that produces electronic products like TV, refrigerators, CD and DVD players, micro wave, has come in the market and running its commercial operation for two years. The organization wants to develop a strategic marketing plan so it can achieve competitive advantage within few†¦show more content†¦Without quality product it will impossible to achieve. So by focusing into customer concept, product concept is also accomplished. Figure 1: The customer Concept 1.1.2 Resources and Implementation and monitoring control To achieve the strategic marketing objectives it is important for the organization to utilize and implement its resources appropriately. Resources include both financial (monetary funds, debt/equity ratio, profit earnings capabilities etc.) and non-financial (human, plant, equipment, raw material, technology etc.). It is also important to establish a vigorous controlling and monitoring system. This helps to minimize the chance of wastes and losses and also enhance the degree of work. 1.2 Corporate Strategy and Marketing Strategy The main objective of organization is to attain sustainable competitive advantage in the market. To achieve objective it has developed a broad strategy and there are other department which has also developed their own strategy. A suitable marketing strategy is the easiest way to attain corporate objective. Marketing strategy emphasizes on the customers more who are the value creators of the organization. The more value will be created the more competitive advantage is achieved. We can relate our corporate strategy with marketing strategy as follow. Corporate Position Corporate Strategy Marketing Strategy Attractive Market Strong Position Invest best resources Offer bestShow MoreRelatedStrategic Marketing1098 Words   |  5 Pages Strategic Marketing Lauren Hartshorn Grand Canyon University: LDR 620 October 31, 2012 Strategic Marketing A successful strategic marketing process must be thoroughly developed prior to implementation. A strategic marketing plan according to Vega Rojas (2010) is â€Å"to assign and to coordinate effectively the marketing activities and resources in order to achieve the company’s goals or strategic mission (p. 3). 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The big organisations helped to grown the strategic planning orderly, it called comprehensive structure, later it adopted by numerous big and small organisations, George A. Steiner describes in his book â€Å"Strategic Planning†. There are various definitions of market strategy and every definition has its own aspect (Li et al 2000). According to Wensley (1983) marketing strategy is an act, a practice and a