Strategic Marketing Management Essay Example | Topics and Well Written Essays - 2500 words

Strategic Marketing Management - Essay ExampleThe research could be casual, descriptive or exploratory in nature according to the needs of the organization. After the analysis is done the organization can move on to growing a viable, long term strategy for the organizations marketing efforts. The main focus of the strategy is to allow for segmentation and targeting of the desired customer base and deciding on the value proposition that they would be offered in return for becoming their customers. The basal challenge of strategic marketing is, therefore, to manage marketing intricacy, customer and stakeholder expectations and to reconcile with the personal effects of a varying atmosphere in the context of certain resource availabilities. Strategic Marketing enthusiasts often adopt management concepts to their unique needs. As the basic purpose of both management and marketing is to explore the relationships an industry or organization has with its environment, some of the widely us ed management tools and frameworks have been adopted for the marketing process. These would include the industry analysis techniques of Porter and the portfolio matrices (Fahy, Smithee, 1999, p1). Strategic Marketing Management is a field of study in which due consideration is given to appreciation the different parts of the marketing strategy and their integration framework for defining and evolving the market which ultimately helps the marketing manager into transforming concepts and theories into practical strategies and action plans for any organization. In Strategic Marketing Management the focus is on the 3 Cs of the external environment. The competitors, customers and the channel form the three pronged focus of the firms efforts. By clear-cut and providing better solutions to their customers needs and to cater to their demands is the first step for any the organization in designing a product and related marketing strategy. The competitors ar chief(prenominal) because ulti mately they will impact the consumers buying decision and the overall industry profitability, the strategy has to be such as to differentiate and better the position of the caller-out in the eyes of the consumer from the competitor. Finally, the channel or the supplier side of the equation deals with the processes of manufacturing or producing a good for the market and the people that will have to be dealt with during it all. An organization has to be on the lookout for any opportunities or threats which exist because of changes in the 3 Cs environments, and their marketing strategy has to be strong and conciliatory enough to adept to these changes in a beneficial way. Like any other process, marketing is also subject to the changes in the technological, lifestyle, social and economical trends. in time more so because marketing, ultimately, is designed to and catered for the needs and wants of the people and these depend largely on the time frame and environmental and psychologic al factors. In the 21st ampere-second there are some trends which have slowly become a stronghold in of the modern markets and for the prudent organizations, their strategy has to be managed to accommodate these trends. thither is a cynicism prevalent in todays consumer which makes them check and double check the claims that a company is making about their product or service. They are self conscious about the decisions they make, ethically motivated, passionate about eco friendly practices and generally more