Strategic marketing process essay

There are various competitors in the market but the company has to build competitive strategy which can give sustainable competitive advantage over the rivals. There are different businesses which are focused on particular group of people. However, corporate strategy is more concerned with profitability initiatives rather than the product or service development.

Market Segmentation is a process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviour that might require separate products or marketing programs Kotler and Armstrong, In the final step they can make tactical implementation and each communication vehicle is released.

A company can introduce itself in the market by being a market leader. Oxford University Press Inc. In that case, it has to minimize the price of the product. Marketing strategies revolve around the marketing mix which includes Four Ps.

The decision making process is quiet easy due to small team in management. Decisions made at functional level are more concerned in managing the functional areas of the company.

Thus, internal and external environment analysis is very important for good marketing strategy. Customers often come with different product and services. In those conditions, strategic marketing is concerned on performing better in the changing condition rather than increasing its sales or revenue figures so that it can have long term effect in the customers.

The market is very dynamic. Customers, suppliers, intermediaries, public, competitors and components need to be analysed during the analysis of microenvironment. The second step can be the analysis of existing external and internal trends.

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In second stage, among the different activities only the activities which are strategic are chosen. Journal of Business Strategy. What is a corporate strategy?

Strategic Marketing Plan Audit. Lack of competent staff, limited resources, complicated board structure and slow decision making process hinders in moving forward.

Low cost has always been the strength of any company. Similarly, in cost leadership strategy, strategies are made in order to reduce the cost of the product and selling at lower price than that of competitors. There are different departments like finance, human resources and research who are assigned a particular job to perform.

They try to identify the product or market opportunities. Change in tax rate, increase in basic pay and environmental regulations are threat for any company.

It guides a particular direction for the company in which it should be guided.Strategic Marketing Process The purpose of this paper is to briefly explore the strategic marketing process, specifically the key phases of planning, implementation, and control.

- Strategic Marketing Process The purpose of this paper is to briefly explore the strategic marketing process, specifically the key phases of planning, implementation, and control. In addition, the application of mixed marketing to create a market segments as well as customer loyalty is equally explored.

Following a strategic marketing planning process using EXMAR software, EXMAR users find they are able to help marketing plan work more effectively and so recognize profitable growth areas.

Better investment decision could be made. This paper will discuss the Strategic Marketing Planning process and Marketing tools and techniques and its application in three different case scenarios.

Firstly it looks at a. The process of choice for this project is the strategic marketing. The process covers five fresh-air-purifiers.com Essay Paper on Strategic Marketing Process. Strategic Marketing Process The purpose of this paper is to briefly explore the strategic marketing process, specifically the key phases of planning, implementation, and control.

In addition, the application of mixed marketing to create a market segments as well as customer loyalty is equally explored.

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Strategic marketing process essay
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