Strategic Marketing Management

1. Discusses the role of strategic marketing in an organisation (1.1)

“It has been described as a business activity; as a process of demand-supply adjustment; and many other things. The function of marketing is the establishment of contact. Marketing is the delivery of a standard of living too society. Selling goods that don’t come back to the people who do (sell them).” Lancaster (2011)

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. We can say that marketing is simply to shorten the sales cycle. Strategic Marketing is doing this, properly means step wise (strategically). Every small or medium size company needs marketing. For successful marketing leader it is very essential to understand the skills, experience and professional and personal competencies. “Strategic marketing management is a system designed to help management create, change, or retain a business strategy and to create strategic visions. A strategic vision is a projection of a future strategy or sets of strategies. (Aaker and McLoughlin, 2010, p10).

According to Aaker & McLoughlin (2010) strategic marketing is system of process which helps the management to manage or handle the strategy to create strategic vision, long term goal of organisation. In other words, the strategy is implementation and control of marketing activities in order to achieve organisation’s objectives. It allows the organisation to break its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. It includes all the long term activities in the field of marketing that deal with the analysis of strategic initial situation of the company and the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives.

2. Explains the processes...