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Essay example - Strategic Marketing Management
Pages 10 (2510 words)
The effect of Technology on Strategic Marketing Management The Marketing strategy of an organization is what allows it to focus its limited resources to capture its desired target market while countering and taking advantage of its internal and external environment…
Extract of sample
The research could be casual, descriptive or exploratory in nature according to the needs of the organization. After the analysis is done the organization can move on to developing a viable, long term strategy for the organizations’ marketing efforts. The main focus of the strategy is to allow for segmentation and targeting of the desired customer base and deciding on the value proposition that they would be offered in return for becoming their customers. The basic challenge of strategic marketing is, therefore, to manage marketing intricacy, customer and stakeholder expectations and to reconcile with the effects of a varying atmosphere in the context of certain resource availabilities. Strategic Marketing enthusiasts often adopt management concepts to their unique needs. As the basic purpose of both management and marketing is to explore the relationships an industry or organization has with its environment, some of the widely used management tools and frameworks have been adopted for the marketing process. These would include the industry analysis techniques of Porter and the portfolio matrices (Fahy, Smithee, 1999, p1). ...
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