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Strategic Marketing Name Institution Date Strategic Marketing All marketing executives have to confront strategic marketing difficulties which can adversely affect the future of their organizations if not adequately addressed. Usually, their decisions are made without having a chance to closely examine the situation.
For marketers operating in a business-to-business environment, this means merging product use and industry sector segmentation with other facets that are associated with purchasing decisions. These can include factors such as the criteria for procurement, and decision motivations that will determine the out-sized purchases made by the organization. For example, the trend towards more use of subcontractors generates market for those suppliers. However, the retailers require a strategic marketing vision in order to make out or perceive these new markets before their business rivals also identify them and take the opportunity (Manning and Reece, 2003). Consumer marketers have to consider the use of demographic and geographic segmentation; along with psychographic segmentation such as attitudes, values, consumer lifestyles, and the motivation for product usage. For example, the aging population segment generates an increased demand for a wide range of goods. It also forms market niches that are big enough to make marketing as well as product development a worthwhile endeavor. These same factors can also contribute to the decrease in demand for other items. Occasionally, rather than increase sales or advertising efforts, it is more advisable to desert a declining market. ...
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