The Principles Of Strategic Marketing Management Essay
Part A: Critically analyse the principles of strategic marketing management using Hellers the organization case study.
Strategic marketing and management offers different approaches that are employed to reveal the hidden customer needs and draft a marketing plan in accordance with it. It decides the nature of marketing programs to be implemented (Mongay, 2006). Main vision and role of strategic marketing is to enhance the overall firm’s performance by employing better marketing tactics. Customer satisfaction lies at the heart of strategic marketing and management. It has been proposed by Wilson & Gilligan (2012) that an efficient corporate strategy provides the direction to organization and crafts a business friendly environment if implemented wisely. Strategic marketing management enables the management to foresee the future and get ready for probable environmental transformations by introducing structural flexibility. Munuera & Rodriguez (1998) have defined strategic marketing as follows:
“A methodology of analysis which pretends the knowledge of customers’ needs and the forecast of potential options (ours and competitors) in order to gain competitive advantage in a long term (sustainable) and defendable”
It means that effective strategic marketing and management depends upon ability of firm to gain the deep customer insights and correctly forecast the market opportunities to win a competitive edge over rivals. Short term vision can’t help…