REPORT

Strategic Marketing Management

EDEXCEL BTEC HND (Level 5)

Presented by: Presented to: Commencing Date: Submission Date:

CONTENTS
Introduction Role of Strategic Marketing in Organization Strategic Marketing Process Linkages between strategic marketing and corporate strategy Strategic Marketing Planning and value of models Strategic Positioning and Marketing tactics Relationship Marketing and Marketing Strategy Marketing techniques and growth in the Market Marketing Strategy and its impact on external environment Analyzing strengths and weaknesses for a marketing strategy Conclusions Recommendations References 3 4 4 6 6 7 7 8 8 9 9 9 10

INTRODUCTION
Strategic Planning for marketing its products or services for the organizations involved in multibusinesses and dealing in several product lines is as necessary as the blood for survival of human. Normally the higher level strategic plans provide the opportunities of occurrence of the lower level strategic plans which means that each level of the organization is planned in strategic way that how it would carry its operations to providing an overall support to become the corporate level thoroughly in the organization. So strategic planning must be integrated and consistent in its entire levels. The major and focal benefits of strategic marketing planning are attained with the objectives win through very improved performance along with the better focus on the mission and vision. Normally different departments are involved in planning strategically about the entire organization and different functional managers like product and marketing researchers and managers, sales managers, production managers and financial managers are supposed to participate into the planning game. Most corporate firms add their customers in the strategic planning process to get the accurate results. These firms determined to perform the different functions for its business or businesses and all the functions are operated under the developed strategic plans. So at corporate level, all the above mentioned departments have their own strategic plans to run and all the sub plans are coordinated to a general major strategic plan to lead towards the goal of the organization. While simply a marketing strategic plan will describe that how marketing manager will develop and execute the marketing strategic plan against some specific objective and set of functions. The marketing mix approach and general target markets are the major focus through these strategies. In the same way, the product marketing plan addresses the marketing mixes for each product and the specific target markets relatively. The product marketing plan includes the strategic decision that is what to do? and execution decision that is how to do?

Role of Strategic Marketing in an Organization

Normally Marketing Strategy is concerned with the corporate marketing roles set by the managers forum from different departments of the organization, yet the functional level has its benefits too as more organizations are involved in functional level marketing for its strategic marketing execution plans. It is due to the innovative era that strategic marketing planning is involved in all levels of the organization. So Strategic Marketing defines as The marketing activities that affect business, corporate and marketing strategic plan. There are normally three basic functions which are involved and considered to be implemented throughout the organizational level to strategic marketing plan. 1. The Marketers help to make an orientation towards the customers and markets in all the departments and get the people involved in it. It benefits with the spread of philosophy of the organization throughout the strategic planning process. For example, the mobile phone services companies providing mobile telecommunication to the people have their corporate personnels in a way that where ever they go and where ever they exist in the society, they talk about their companies and policies and thus they are directly doing the execution of their strategic marketing plan and process. 2. Marketers have a keen observation upon the process and in this context, they are always there to gather information and analyze the current situation, try to identify the new trends in the marketing environment and then assessing the potentialities of these trends to utilize them for their development. Thus such analysis provides and input for the corporate and business marketing strategic plans. 3. As the marketing forces and their influences differ across the organization, so the marketers are always involved in the development of the business or corporate marketing strategic plans. The marketing philosophy then plays a major role in making strategic decisions. David.W. Cravins, 2001. Strategic Marketing and Planning. 2nd ed. McGraw Hill.

Strategic Marketing Process

The Strategic Marketing Process is based on the different particular factors for a successful business penetration. Phase 1Getting Started: In this phase, the first step is to plan a willing and enthusiastic committee consisting of the professional managers who would be lead by a marketing manager in context with executing the plan work. The committee should have very clear vision about effectively identifying the issues as well as developing

the practical solutions and creating clear objectives. The committee is also responsible for defining and assigning roles and responsibilities to complete the strategic marketing and planning process.

Phase 2Preliminary Planning: In this phase, there is a schedule arranged for a meeting in which its decided when and how the overall plan would be executed and this meeting arrangement also determines the future meeting dates and frequency including the venues and budgets for the evaluation and analysis of the direction of plan. On the other side, the resources are considered to be allocated as per necessity and the available and needed resources are properly evaluated to make the cost reduced as well as to fill the gaps in the strategic marketing process properly. The timeline is another important issue in the process where the dates are even defined to get the different jobs done by the different persons. In this phase of marketing process, the different factors are also identified to get through a successful implementation and getting output out of that in the entire strategic marketing process. Phase 3 Strategizing: This is a review phase. Reviewing existing strategic plans, primary strategic goals, intra-organizational mandates and mission statements and their impacts on current issues and its executions, the material and documentation connected to the planning process, the scope of the strategic marketing plan and the required questionnaires and its sorting is carried out in strategizing. Also the development of different information gathering forms and materials is required. There should be some sub-goals to achieve the major goal and these sub-goals are properly prioritized and validated. The objectives of stakeholders, management and executives are set and validated. There should be a win thought potential for every short term and long term goal and to utilize the achievements as the success story of the beginners luck. Making the SWOT analysis at this phase is the right time to do so especially when you are working with stakeholders and there is a great need to make a continuous loop of analyzing the situation to establish a proper measurement of the output. Now the phase would be closed by developing a comprehensive marketing strategy to promote the plans objectives. Phase 4 Authorizing: In this phase the external viewers are evaluated in terms of the strategic marketing process measurement. External viewers mean definitely the customer. So the process requires the proper identification of the external viewers to get a proper feedback for the strategic future decisions. Another very good approach is to publish the strategic marketing plan through the print material and to distribute it through different channels. Phase 5 Monitoring and Marketing: Now the feedback is in your hands, so the proper incorporate process of marketing plan is required to execute with the specified team. Draw a format for the measurement of the execution process and the results time by time and note it for the further decisions. Measurement is not only meant for the 5

process but is operational team must also be reviewed with respect to its performance. This phase is lasting almost forever till the organization exists and the loop of making feedback another strategic marketing plan continues. Public Education. 2011. Strategic Marketing Process. [Online Available] at www.public.iastate.edu. [Accessed April 25 2011]

Linkages between strategic marketing and corporate strategy

The corporate strategy is always derived from the strategic marketing plan. Corporate mission is said to be the broader objectives and set goals for a certain organization. There are validated patterns set to assess the long term criteria of the organizational performance effectiveness. Now the above all is based on the environment and the culture of the organization which when organization has determined to become a corporate is developed in the concerned direction. The strategic business units are developed and the mission statement is filled with material along with the SBUs achievements. 3Cs are the key factors in that scenario, which are, customer, competitor and the corporation. The PEST analysis and the Strategic Marketing Decision process is started when the corporate strategy is properly validated and implemented. Oppapers. 2011. Link between strategic marketing and corporate strategy. [Online Available] at www.oppapers.com. [Accessed April 25 2011]

Strategic Marketing Planning and value of model

Strategic marketing model has three factors to be considered. Marketing Philosophy Execution Analysis and Information Corporate Business and Market Strategy Decision The above three are also co-related with the marketing management which consists of product marketing plans development and their executions. The value of this model is based on the proper spread of the philosophy of the organization as some prominent multinational companies have done it very well. For example, KFC and McDonalds have the same environment and marketing management styles all around the world in different culture. The customer enjoying it in Southern Asia would enjoy the same environment, taste and culture in Europe as well. Same situation is predicted in the internal environment of the companies where employees are treated as a crew rather than traditional hierarchy; everybody is supposed to do all kind of relevant internal tasks in the organization.

Strategic Positioning and Marketing Tactics

Strategic Positioning is a process of identifying different segments within the product market or markets. The product offered for the customers is the process of targeting the customers and then positioning. The inter-related factors are identifying the segments within the product market, then deciding which segment is to be targeted and then finally deciding and implementing the positioning strategy for each market segment. Then again the circle rotates to boost up the sales or to extend the target markets. While positioning the product, there are some marketing tactics to be used to get your products sold to achieve the sustainability. There could be multiple and multiple tactics to be used in the execution but majorly there are some tactics always work. First, analyzing the current customers and determine their key traits they share, and then specifically choke them with your revised sales message. It will boost up the sales. Second, offer your customers the opportunity of saving their time and money as they are always concerned with both of them. Third, make your customers avoid having some un-necessary decision to buy your product. So the procedure of buying your product must be very easy and clear. Fourth, give your customers an occasional call even send them the messages through cell phones, emails or letters, give them the first announcement about your new product to be launched, it will be a very beneficial thing to achieve the targets. Oppapers. 2011. Strategic Marketing and Planning. [Online Available] at www.oppapers.com. [Accessed April 25 2011]

Relationship Marketing and marketing strategy

Significantly, the objective of many marketing strategies is normally to sustain the customer for a long time. Good corporate organizations estimate this time as 10 years least to sell the product to its customer in such a way that that each customer is considered to be retained for the companys products. There are normally three forms for making a strategic relationship building with the customers. Delivering superior quality products and services to the customer results in creating the customer satisfaction, worldwide corporate companies now focus on total customer satisfaction programs in this concern. The brand equity is another factor of strategic relationship marketing. It includes name awareness, quality perception and loyalty to the brand. The consumers are even concerned with the marketing channels, packaging and brand trademark.

Third factor is itself creating and maintaining relationships with the customers. Lots of organizations emphasize on building good relationships with their customers by providing them different benefits and gifts along with their brands and new products. The brand sustainability is an issue for these firms and these are always eager to focus on this point.

Marketing techniques and growth in the market

The growth of the company in the market depends upon the following factors used as the marketing techniques to penetrate into the market. Good companies are always there to utilize the market scopes for their products and services. It covers whether there should be a single market to cover according to the size of the organization or the firm is such capable of doing work in multi market. Thus the strategy changes accordingly. But as per consumer goods are concerned, the total market strategy is considered to cover as the products are for every one irrespective of class, gender and culture. The market entry techniques are also considerable for the strategic marketers. The first entrance in the market would cause the big share if the marketing plan is just up to the mark and as far as laggards are concerned, there are only two ways. One is to become imitator and second to become initiator. In both the cases, there should be a great market research capability to penetrate into the market. The product strategies include, product positioning, repositioning, scope of the product, design and new product launching strategies. When the product positioning and scopes are defined then the media is required to advertise. Thus the promotion strategy is required in which promotion mix, media selection and advertising is considered and evaluated. Distribution of the product is a pre-planned work when deciding about the product positioning. It requires distribution scope where, exclusive, intensive and selective distributions are considered according to the nature of the product and marketing plan budgets. Another strategy is used named multiple channel strategy. Finally we have the pricing strategy changing from product to product and their position in the market.

Marketing strategy and its impact on external environment

The marketing strategies are evaluated and developed by keeping the external environment in the view. Some of the external forces are out of the boundary and cannot be driven according to the companys objectives accomplishment procedures but some of the external factors are changed as the companys own culture influences the masses and the people associated with the organization somehow. The companies cannot generally influence the laws set by the legislators and the governments, but a person behaving outside the organizational environment may behave differently when coming into that certain culture.

David.W. Cravins, 2001. Strategic Marketing and Planning. 2nd ed. McGraw Hill.

Analyzing strengths and weaknesses for a marketing strategy

Applying SWOT analysis to the marketing strategy gives the marketers a clear picture of setting the action plan. Strengths and weaknesses are internal factors to be evaluated. It includes the performance and capabilities of the team which has been specified to execute the strategic marketing plan as well as what are the soft corners that are needed to be sharpened. Whole execution plan totally depends upon the strengths and weaknesses of the company. It is even a continuous process where evaluations and measurements tell you where the strengths are paying you more and where the weaknesses are creating hurdles and how to cope with them. David.W. Cravins, 2001. Strategic Marketing and Planning. 2nd ed. McGraw Hill.

Conclusions
It is obvious that the Strategic marketing plan depends on several points to be properly evaluated and measured in the organization at the management level and especially depending upon the team and its members specified for the operations of the different functions. All it is happening to sell the products and services and to earn money and profits indeed. Means the bottom line is product, then why to make such hassles and why to go such deep into the picture. The simple answer is to build an image for a long term survival and survival is the number of the customers and their sustainability. So the profit doesnt only mean the money you earn on the certain product but the customers good feedback, re-purchases, his or her appreciations and their admirations are all ingredients of the profitability an organization earn from its customers. So such definition of the profitability can be earned by strategic marketing management in very professional way.

Recommendations
The strategic management is based not only the planning process and its execution but on the training of the team which will play this plan. The training programs are required including practical sessions, professional workshops, heavy counseling, lectures, seminars, orientations, internships and many more. Then the corporate environment and strategic execution of the marketing plan can be achieved.

References
David.W. Cravins, 2001. Strategic Marketing and Planning. 2nd ed. McGraw Hill. Oppapers. 2011. Strategic Marketing and Planning. [Online Available] at www.oppapers.com. [Accessed April 25 2011] Oppapers. 2011. Link between strategic marketing and corporate strategy. [Online Available] at www.oppapers.com. [Accessed April 25 2011] Public Education. 2011. Strategic Marketing Process. [Online Available] at www.public.iastate.edu. [Accessed April 25 2011]

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