Why is Strategic Marketing Necessary for a Business?
Strategic Marketing is one of the most important and necessary activity of the organization. it is a process of planning, developing, and implementing generic direction to achieve pre-determined gaols. This process is very necessary to outline and give a directional map to organization’s objectives and goals. it act as a complete guide to Organization.
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One can understand the importance of Strategic Marketing process completely after considering following points of benefits: –
- It helps business houses in focusing and providing direction to best opportunities to be taken into consideration and to various threats to be avoided.
- It helps in identifying tools which are available with-in the organization and show the ways to use them effectively to fight competition and gain market recognition.
- By adopting high level strategic marketing, an organization can save its time and money.
- It helps in attracting the right employees to the organization. it also predicts best investment arena for fast and quick growth.
- It is the strategic marketing which helps an organization to look different and reliable from its competitors.
- It helps in translating the organization vision, mission, task and objectives into effective marketing wits.
- It helps in understanding the customer preferences for the up-coming brands.
How Strategic Marketing Process works?
The strategic marketing process comprised of three phases namely:
It is the most important phase of strategic marketing as it is the one which research and analyse the following:
- Internal strength
- Required Technology
- Extent of skilled employees
- Marketing program
These are the important aspects of the organization as these help in achievements of goals and objectives.
This phase is known as the active phase of the strategic marketing. The whole hard work and time spent in the planning phase would be considered wasted if the organization cannot carry or implement the planning effectively and correctly. If planning management work is adequate and competent then the program can be put into effect. Implementation phase needs following necessary components for execution of the program:
- Proper schedules of planning
- Design of marketing hierarchy
- The layout of Promotional ways
This phase of strategic marketing is the checking phase. The main task of this phase is to ensure that the results of the implemented program are according to pre-determined goals. it necessary phase of the strategic marketing as it quickly correct negative deviation to get back on the track for better and quick results.
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