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Strategic Marketing Management - Essay Example
Long ago it was mentioned by Peter Drucker that there were two fundamental purposes of any business organization and they were innovation and marketing.Essentialy marketing is a procedure with the help of which a particular firm builds significance for the selected customers. Value is built when the requirements of the customers are fulfilled…
Strategic marketing plan is appropriately observed as a continuous process as this assists the particular organization to recognize the objectives that it aims to attain. In this context, it is important to be noted that the objectives of any organization cannot remain the same throughout and needs to be changed according to the alterations in the business environment. In this period of ever changing business environment, only a proper strategic marketing plan can help an organization sustain.
Strategic Marketing Planning in the Sports Sector
The sport industry has started to acknowledge the worth and the need of a proper plan of strategic marketing. There have been little facts regarding the relationship that is said to exist among the performances and a proper marketing plan in relation to an organization. However, there has been conflict between numerous researchers of sports about the fact that unless enhancements are made in the actions of a strategic marketing plan, it would not be possible for the sports industry to persist to live on in an environment that is so competitive (Shoham & Kahle, 1996).
The process for designing a proper strategic marketing plan with regard to the sports industry is proposed below. ...