The concept of strategic marketing management has evolved through interaction among marketing managers, regarding strategy and planning. Marketing scholars define the term to mea, “Managing a business unit to anticipate and respond to changes that affect the market place so that decisions are made today to allow the business unit, to be ready for tomorrow in such a fashion as to avoid the threats and take advantage of the opportunities.”
The major characteristics of strategic marketing management includes,
Looking beyond immediate issues
Specific decisions and Actions
Top management level of involvement
Holistic perspective
Flexibility
Proactive ness
Strategic Marketing Management attempts to answer some very basic questions including defining what businesses the company is in and what businesses the company should be in.
1.1 General understanding of a STRATEGY
The definition of a strategy can be fairly simple. It is the actions taken to achieve the objectives that we set. There are basically three different levels of strategy.
Strategic Marketing Management
Marketing Strategy
Marketing Tactics
There is Strategic Marketing Management accomplished at corporate level. The next level is Marketing Strategy. It is accomplished by the marketing organization. Finally, there are Marketing Tactics, which are executed in support of the marketing strategy and are accomplished, by various subordinate units within marketing.
‘The central objective of any strategy is to be stronger at the decisive point.’
But, it is also important to recognize that point which is defined by a time, by a location, and by a position relative to the competition Marketing Strategy focuses explicitly on the quest for a long-run competitive advantage in a particular marketing situation. Competitive advantage means that you have a differential advantage over your competition such that you are stronger and stronger when and where it counts – at the decisive point.
Ø Important Marketing Strategies adopted by BSL discussed under this project, includes,
Product Strategies
Promotion Strategies
Distribution Strategies
Customer – Orientation
Relationship Marketing
Environmental AnalysisThe Marketing Information System
The major characteristics of strategic marketing management includes,
Looking beyond immediate issues
Specific decisions and Actions
Top management level of involvement
Holistic perspective
Flexibility
Proactive ness
Strategic Marketing Management attempts to answer some very basic questions including defining what businesses the company is in and what businesses the company should be in.
1.1 General understanding of a STRATEGY
The definition of a strategy can be fairly simple. It is the actions taken to achieve the objectives that we set. There are basically three different levels of strategy.
Strategic Marketing Management
Marketing Strategy
Marketing Tactics
There is Strategic Marketing Management accomplished at corporate level. The next level is Marketing Strategy. It is accomplished by the marketing organization. Finally, there are Marketing Tactics, which are executed in support of the marketing strategy and are accomplished, by various subordinate units within marketing.
‘The central objective of any strategy is to be stronger at the decisive point.’
But, it is also important to recognize that point which is defined by a time, by a location, and by a position relative to the competition Marketing Strategy focuses explicitly on the quest for a long-run competitive advantage in a particular marketing situation. Competitive advantage means that you have a differential advantage over your competition such that you are stronger and stronger when and where it counts – at the decisive point.
Ø Important Marketing Strategies adopted by BSL discussed under this project, includes,
Product Strategies
Promotion Strategies
Distribution Strategies
Customer – Orientation
Relationship Marketing
Environmental AnalysisThe Marketing Information System
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