Strategic marketing is an identification if 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 marketing is the new demand in today’s globalized and digitized market. Organizations use strategic marketing to create a plan to better reach and satisfy customers while increasing profitability and productivity.
Strategic marketing management is a unique approach to understanding customers and then leveraging it to design integrated strategic marketing plan in online environment.
Companies use strategic marketing to identify customer needs and to create a marketing plan to achieve customer satisfaction, improve company performance and increase profit.
By outlining how companies or brands will engage customers and use new sales and marketing methods, an organization can grow and increase market domination. Strategic marketing can also help a business become more innovative and better penetrate a market. Companies may employ communication methods like newsletters, podcasts and e-mails in their strategic marketing plans.
Strategic marketing will help you to
Build a marketing plan. You can build a marketing plan based on customer insight and competitor analysis, including segmentation, targeting and positioning.
Develop a brand strategy. Developing a brand strategy and positioning, leading to the creation and management of communication, pricing and distribution strategies with a focus on online media.
Evaluate new markets. Helps you explore the implications of serving multiple markets and of the emergence of new markets as opportunities for sales growth and as threats.
Components of Strategic marketing plan
Creation of strategic marketing plan involves following life cycles:
Benefits of Strategic Marketing Planning