Concept of strategic marketing pdf

The concept of strategy the concept of strategy in business has been borrowed from military science and sports where it implies out maneuvering the opponent. The term strategy began to be used in business with increase in competition and complexity of business operations. Direct ambush marketing is an intentional use of symbols and trademarks associated with the mass event so as to give the consumers the wrong impression as to the actual sponsors of the event. Target market is identified through comprehensive research. Pdf in todays very competitive marketplace a strategy that insures a consistent approach to offering your product or service in a way that will. He holds degrees in economics and communications from the. Below are concepts to help expand your understanding of strategic management for a business. Whats the difference between marketing and strategic marketing. Special thanks is extended to those who participated in the case studies by sharing the details of their strategies.

This concept is based on assumption that customers will buy offered. Comments and contributions are always invited to the marketing projects strategy discussion forum see the project pages for an archive and details of how to participate. Although most authors speak about some parts of strategic marketing, here is included a list of definitions of the term. Trace the conceptual developments in strategic thinking. Marketing is a philosophy that leads to the processby which organizations, groups and individualsobtain what they need and want by identifyingvalue. Kotler on strategic marketing by john roberts, alvin silk, glen urban volume editor, and jerry wind 1. A marketing strategy that is well articulated will enable one to focus on marketing activities to achieve the organisational goal. The course of action accepted as the result of the estimate of the strategic situation. An overview of strategic marketing chapter 1 devy schonfeld. Constant monitoring it is vital to keep an eye on changing trends and requirements, within the company as well as in the market to ensure that the elements in marketing. Strategy is a plan, a how, a means of getting from here to there. The business concept includes business strategies, strategic renewal models, brand image, and operational concepts of service business briefly. The commitment to innovation and customeroriented business decisionmaking is only the first step in implementing the strategic marketing concept.

A marketing strategy is a business overall game plan for reaching people and turning them into customers of the product or service that the business provides. Company x bachelors thesis in international business, 41 pages, 4 pages of appendices autumn 2012 abstract the purpose of this thesis is to study what are marketing and business concepts, how marketing and business concepts can be used in designing concept changes. The output form such marketing strategy analysis and choice or strategic marketing decision is a marketing strategy statement. Concepts of strategic management presented by fred r. Jofre foreword the present report is the result of an ongoing study on the patterns and trends on both the theory and practice in the field of strategic management. A strategic marketing plan is important in every business entity in order to plan the upcoming tasks in reaching the goal of the company. In addition to strategic marketing for the sme, he is the coauthor of two business books with a. The empirical part of the thesis consists of a qualitative case study. The difference between marketing and strategic marketing is sort of like the difference between a piece of cheese and using that piece of cheese to make some delicious lasagna while the former may be great on its own, its nothing when compared to its use as part of an overall plan that makes the best use possible of all the parts involved. Table 1 shows how kotlers work on strategic marketing explicitly addresses the need to tailor strategy to the environment in which it will be implemented. Building a foundation for your future 2 introduction this workbook is designed to help producers become more familiar with how to construct a strategic marketing management program for their business. New technologies render products obsolete and encourage growth in the marketplace. Understand the scope of strategic marketing planning. It may also extend to control mechanisms for guiding the implementation of the strategy.

Strategic market planning is an ongoing process through which the company creates marketing strategies and plans its implementations in the target market. Aug 28, 2012 what is the definition of strategic marketing. The american manufacturer, through its marketing strategy which rests on a favorable brand image, has evolved into a large. A marketing concept explores coordinating a companys competence with a customers wants. Explain the difference between the strategic initiatives and operating activities of a health care organization. To develop an effective strategic plan, an organization must first define its mis sion. Components of strategic marketing the center of the. Basic strategy concepts learning objectives after reading and studying this chapter, you should be able to. Some authors appear in different years for example jain. The theory and practice of strategy in business organizations s. This commitment establishes the culture of customer orientation, which is the foundation of the strategic marketing concept.

Customer oriented marketing concept and strategic enterprise development in balkan economies 11 production concept emphasizes priority of production itself. By now, so much has been spoken and written about his. Strategic marketing concept monash business school. Strategy according to henry mintzberg henry mintzberg, in his 1994 book, the rise and fall of strategic planning 3, points out that people use strategy in several different ways. In the second part several easy techniques are explained that top. The rise and subsequent fall of strategic planning brings us to henry mintzberg. Strategic surprisingly, here there is ready agreement. Pdf marketing and the concept of planning and strategy.

This entails understanding the environment the business is operating in. Societal marketing emphasizes on social responsibilities and suggests that to sustain longterm success, the company should develop a marketing strategy to provide value to the customers to maintain and improve both the customers and societys well being better than the competitors. This paper analyzes new approaches of the term strategic marketing or marketing strategy and its evolution through the years. Chapter 5 marketing strategies an overview marketing strategy is a broad plan for achieving marketing objectives. Identification of one or more sustainable competitive advantages a firm has in the markets it serves or intends to serve, and allocation of resources to exploit them. Strategic planning is an organizations process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. Strategic management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization.

Strategic concept definition of strategic concept by the. Introduction to strategic marketingchapter 1 free download as powerpoint presentation. It also proposes a definition for marketing strategy, the. Societal marketing concept holds that a company should make. Here we define strategic marketing and explore some marketing degrees and careers. Philip kotlers contributions to the field of marketing philip kotlers status as a major thought leader in marketing is widely recognized. Types of ambush marketing the concept of ambush marketing can be understood under the following heads. Sudharsan 1995 marketing strategy creates pathways to a desirable future. A strategy is an administrative course of action designed to. The societal marketing concept calls upon marketers to build social and ethical considerations into their marketing practices.

In the first part basic concepts of marketing are explained to enable the reader to understand the features of this report. A good marketing strategy should be characterized by a clear market definition, b a good match between corporate strengths and the needs of. Marketing strategy concept map examples and templates. List the numerous benefits that an organization receives from the practice of strategic planning and management. Bank marketing faculty of finance and banks, bucharest. In this article, we explore, 1 the definition and purpose of strategic marketing, 2 the three phases of the strategic marketing process, 3 guidelines for effective strategic marketing process, 4 problems to expect in the strategic marketing process, 5 p.

Marketing strategy concept map examples users can create great looking concept maps fast and easily by using this editable template together with various builtin symbols and powerful tools in edraw. Strategic management meaning and important concepts strategic management an introduction strategic management is all about identification and description of the strategies that managers can carry so as to achieve better performance and a competitive advantage for their organization. Marketing and the concept of planning and strategy. Building a foundation for your future 4 customer characteristics and purchasing hot buttons provide the information needed to decide whether the firm can and should attempt to gain or maintain a sustainable competitive advantage for marketing to a particular market segment lehmann and winer 1994. Unit 4 marketing strategic concepts starbucks locus.

Aspects of that environment include internal factors such as market position, measured by market share and external ones such as macro economic conditions, and the nature of markets. Therefore, this research aims to assess the acquired knowledge of university management students relating to strategy and strategic management concepts with the purpose of answering the. Marketing strategy can be defined as the total sum of the integration of segmentation, targeting, differentiation, and positioning strategies designed to create, communicate, and deliver an offer to a target market elansary, 2006. Strategic marketing is incorporated in many different marketing and business careers to help organizations make the most profit by understanding what the consumer wants. In this report different marketing strategy and tools of starbucks is discussed and analysed. Marketing plan is needed in every company to assess the current position of the company as well as to prepare the necessary actions to take for the improvement of the companys systems and operations. The strategic concept is an official document that outlines nato s enduring purpose and nature, and its fundamental security tasks. Marketing concept includes the marketing research, market segmentation, and marketing mix. Strategic marketing is the process of recognizing the various leads a company has in the market it serves or seeks to serve and allotting resources to exploit this leads. Strategic management meaning and important concepts.

This paper proposes a domain statement for strategic marketing as a field of study and delineates certain issues fundamental to the field. If you continue browsing the site, you agree to the use of cookies on this website. Societal marketing concept examples, advantages and importance. They must balance and juggle the often conflicting criteria of company profits, consumer want satisfaction, and public interest. The five marketing concepts are a good example of how marketing has changed throughout the. An organization is said to have competitive advantage if its profitability is higher than the average profitability for all companies in its industry. Understanding the marketing mix concept 4ps cleverism. Marketing and innovation produc e results, all the rest are costs. The marketing mix is a fluid and flexible concept and the focus on any one variable may be increased or decreased given unique marketing conditions and customer requirements.

Here are several examples of strategic marketing plan that you might find useful. The concept of strategic marketing in marketing discoursea. Strategic marketing builds off of market knowledge to develop a customercentered strategy, or plan and approach, to marketing campaigns with the ultimate goal of profitability for the organization. Strategic market planning definition marketing dictionary. It covers more than just the traditional marketing activities, and integrates strategic planning, financial planning and measurement. His published definition of strategy took this form in the 1980 edition.

The concept of an office suite arose out of the limitations of legacy computing. This matching process exists in what is termed the marketing environment. They will certainly learn that marketing is more than advertising and will be delighted even surprised to see you have a system, method, timing, and budget to evaluate your efforts. Marketing is simply the performance of business activities that direct the. Their input, advice, and lessons learned, both successes and failures, have been incorporated into this document so that we may all apply better strategic management processes in our organizations. The company must be implemented well for the success of the company. As a result, new products must constantly be introduced into the marketplace. Scribd is the worlds largest social reading and publishing site.

There are three stages of strategic market planning, namely segmentation of the market and customers. This ebook defines our strategic marketing process, and outlines the key concepts and steps that companies use to integrate it into their daily, monthly and annual revenuegenerating activities. Marketing involves satisfying customer needs or desires. Kotler 1997 the selection of target markets, the marketing mix and the marketing expenditure levels. Domain, definition, fundamental issues and foundational premises. The identification of needs, wants and opportunities in the marketplace, and using these as a basis for decisions involved in planning marketing strategies. These will help sharpen your focus for using strategic management for farm businesses. Hence, in general, many companies in india are now focusing on customerdriven marketing practices, profitability and strategic marketing practices in their chosen field of operations.