Strategic Marketing - 1098 Words

Strategic Marketing Lauren Hartshorn Grand Canyon University: LDR 620 October 31, 2012 Strategic Marketing A successful strategic marketing process must be thoroughly developed prior to implementation. A strategic marketing plan according to Vega Rojas (2010) is â€Å"to assign and to coordinate effectively the marketing activities and resources in order to achieve the company’s goals or strategic mission (p. 3). The strategic plan must include target goals consistent with the companys mission statement, a plan for implementation, and a process for controlling and correcting deviations. Target goals are met by identifying marketing segmentation, which is targeting a specific market for a particular service or line†¦show more content†¦Once the specific marketing tools are identified and the target audience is set the marketing department can implement the plan. Where and to whom the company message should reach is outlined in the plan. Whether though print media, television advertising, or social media, the message must remain consistent with the m ission of the company. Both long term and short-term strategies should be rolled out by utilizing a marketing timeline set for maximum effectiveness. Controlling Marketing control refers to the systematic process of regulating organization activities to meet the expectations established in the mission, plans, and targets of the strategic plan (Sliziene Vaitkenen, 2003). Companies should utilize decentralized control because people work best when they are fully committed to the organization (Daft, 2009 p. 549). Accurate information is required so corrective action can by taken for any deviations from the targets, measures and outcome. Leaders must regulate the organizations activities to ensure their plans match the set target. These targets include quality standards, which are essential for customer satisfaction and loyalty (Sliziene Vaitkenen, 2003). The realizations of marketing control require not only control, but also auditing and monitoring the competition in marketing and evaluate management processes and their possibilities (Sliziene Vaitkenen, 2003). Conclusion Developing a well thought out marketingShow MoreRelatedStrategic Marketing1052 Words   |  5 PagesRunning head: STRATEGIC MARKETING PROCESS Strategic Marketing Process Strategic Marketing Process In order for an organization to reach its target markets, it must use the strategic marketing process to allocate its marketing mix resources. The marketing mix is elements, such as price, product, place, and promotion (also known as the 4 â€Å"P†Ã¢â‚¬â„¢s) used in the make up the marketing process (Bayne Hardin, 2002). It is important for an organization to have a good understanding of the marketing mix. EachRead MoreStrategic Marketing3492 Words   |  14 Pagesï » ¿Strategic Marketing Contents Abstract Strategic marketing is the plan and roadmap of an organization which help to fit the marketing objectives with corporate vision. An organization’s ultimate target is to achieve competitive advantage in the market. Strategic marketing assists an organization to implement its marketing strategies to create positioning in the market so it becomes easy to achieve competitive advantage. 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The big organisations helped to grown the strategic planning orderly, it called comprehensive structure, later it adopted by numerous big and small organisations, George A. Steiner describes in his book â€Å"Strategic Planning†. There are various definitions of market strategy and every definition has its own aspect (Li et al 2000). According to Wensley (1983) marketing strategy is an act, a practice and a