Strategic marketing is the process of aligning the marketing activities of an organization in such a way that they help organizations meet their strategic objectives (McLoughlin and Aaker, 2010). To add to this, Blythe, Coxhead, Lashwood, Partridge, Reed and Simms (2005, p 23) have described that strategic marketing consists of putting together a plan for the best use of the resources of organization and improving tactics to meet its corporate objectives. To do this an organization must understand the segments of market or market which they tend to aim and recognize the most proper mix of marketing to satisfy those people in each of the market segments of target markets (Proctor, 2000). Parry (2004, p 1) has defined that strategic marketing management could be achieved by a means-end approach. He argues that strategic marketing is a framework driven by 2 major decisions related to positioning and targeting. To make these decisions organizations must find answers to two queries:
- What might matter and what does matter to essential customers?
- Which of the things should they focus that matter to customers?
The answer for the first query recognizes the set of possible strategies of positioning that should be followed by the organization. The answer for the second query determines both set of target customers and the way the organization should position its product to the customers.
According to Nijssen and Frambach (2000, p 9) over several decades academics and managers have tried to recognize what it is that compares successful from unsuccessful companies. The answer depends in the ability of the organization to deliver superior value to the customer thus outperforming the competitors in customer’s eyes. The issue is how to recognize and define the value of customer for a specific market and how to make one’s organization customer driven. Strategic marketing is the answer.
While several researchers, have given several definitions to strategic marketing, it can be understood that strategic marketing is the process that helps organizations reach their long term objectives. It can also be concluded that strategic marketing is indispensable in the current dynamic business environment for all kinds of business to stay successfully in the market
- Nijssen E J and Frambach R T (2001), Creating customer value through strategic marketing planning: a management approach, Kluwer Academic Publishers, Boston
- Pary M E (2002), Strategic Marketing Management, Tata McGraw Hill, New York.
- Proctor T (2000) Strategic Marketing: An Introduction, Routledge, New York.
- Blythe J, Coxhead H, Lashwood M, Partridge L, Reed P and Simms H (2005), Strategic Marketing, Select knowledge Limited, UK, p 23.
- McLoughlin D and Aaker D A (2010), Strategic Market Management: Global Perspectives, John Wiley & Sons, UK