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Strategic MarketingStrategic Marketing

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Learning ObjectivesLearning Objectives

Recognize the three strategic C.Understand the importance of StrategicMarketingDetermine the characteristics of StrategicMarketing

Visualize the future of Strategic MarketingComprehend the process of StrategicMarketing

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Concept of strategic marketingConcept of strategic marketingW ithin a given environment, marketingstrategy deals essentially with the interplayof three forces known as the s trategic threeC s : the consumer, the competition, and thecorporation.Marketing strategies focus on ways in

which the corporation can differentiate itself effectively from its competitors, capitalizingon its distinctive strengths to deliver better value to its customers.

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Characteristics of Marketing StrategyCharacteristics of Marketing Strategy

a clear market definition;

a good match between corporate strengthsand the needs of the market;

and superior performance, relative to the

competition.

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I mportance of StrategicI mportance of Strategic

MarketingMarketingMarketing plays a vital role in the strategicmanagement process of the firm.

The experience of companies well versed instrategic planning indicates that failure inmarketing can block the way to goals

established by strategic planning.

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Characteristics of StrategicCharacteristics of Strategic

MarketingMarketingEmphasis on Long-Term I mplications. Strategic marketing is a commitment, not an act.

Varying Roles for different products /Markets. Strategic marketing starts from the premise that

different products have varying roles in the

company.Organizational Level. Strategic marketing is conducted primarily at the

business unit level in the organization.

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Characteristics of StrategicCharacteristics of Strategic

MarketingMarketingCorporate I nputs: Corporate culture ~ refers to the style, whims,

traits, taboos, customs, and rituals of topmanagement.

Corporate publics ~ are the variousstakeholders with governments and societyconstitute and organizations stakeholders.

Corporate resources ~ include the human,financial, physical, and technologicalassets/experience of the company.

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Characteristics of StrategicCharacteristics of Strategic

MarketingMarketingRelationship to Finance. Strategic marketing decision making is closely

related to the finance function. I ts very important of maintaining a close

relationship between marketing and finance,and, with other functional areas of a business.

I n recent years, frameworks have beendeveloped that make it convenient tosimultaneously relate marketing to finance inmaking strategic decisions.

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Future of Strategic MarketingFuture of Strategic Marketing

The battle for marketing share isintensifying in many industries as a result of

declining growth rates.Deregulation in many industries ismandating a move to strategic marketing.

Many companies in hitherto nonmarketing-oriented industries are attempting to gainmarket share through strategic marketing.

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Future of Strategic MarketingFuture of Strategic Marketing

Shifts in the channel structure of manyindustries have posed new problems.

More and more countries around the worldare developing the capacity to competeaggressively in world markets.

The fragmentation of markets - the result of higher per capita incomes and moresophisticated consumers.

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Future of Strategic MarketingFuture of Strategic Marketing

I n planning an early entry in themarketplace, strategic marketing achieves

significance.To successfully develop corporateimagination and expeditionary policies,

companies need strategic marketing.

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The Process of Strategic MarketingThe Process of Strategic Marketing