Strategic marketing is a process consisting of:
- Strategic analysis of the environment, competition and factors shaping the business units
- Anticipate future trends in business areas attractive for the company, participate, in the creation of objectives and the formation of the company and strategic business units
- Selection of purpose and market strategy
- Setting marketing and development goals. Positioning, implementation and management of various strategies for meeting the needs of the market.
Strategic marketing formulation process is therefore a specific strategy within the strategic management and should be considered as a component part of this management, as an instrument to create a broader framework for strategic success in the market.
Strategic marketing consists of planning and design of market strategies.
The concept of strategic marketing is shaped by market realities such as:
- Variability and global macroeconomic environment,
- Rapid development of technology,
- Variability of customer behavior
- Fluctuations of economy
The most important tasks of strategic marketing
- Developing of internal knowledge bases about the market, contractors and competitors.
- Support of sales department in recruiting new and retaining existing customers.
Principles of strategic marketing
- Targeted communication
- Long-term planning
- Complex analysis and planning
The concept of marketing was perfected before modern philosophy and strategy of firms in the market developed. The very concept of marketing was born in the U.S. at the turn of the century and since then underwent evolution. The original meaning of marketing is connected to all human activities associated with the market
Types of marketing strategy
Depending on the relations between market and producer there are two groups of strategies:
- Offensive (and Counteroffensive)
Strategic Marketing is closely associated with the development of marketing strategy and therefore such actions through which the company intends to achieve its long term objectives on the marke. It is based on three dimensions, which determine the value of:
- Position of company in the market compared to competitors
- Stages of product life cycle
- The expected future economic growth