Informative Essay on Strategic Marketing Management
Criteria referenceTo achieve the criteria the evidence must show that the student is able to: LO1 Understand the principles of strategic marketing management 1. 1 discuss the role of strategic marketing in an organisationUnderstand and discuss: 1. The key definition of strategic marketing 2. The role and importance of strategic marketing 3. The key strategic marketing concepts and activities in the organisation 1. 2 explain the processes involved in strategic marketingUnderstand and discuss: 1. The strategic marketing planning processes 2. Approaches to strategic planning . 3 evaluate the links between Strategic marketing and corporate strategyUnderstand and discuss : 1. Nature of strategy and marketing 2. Links to corporate strategy, mission statements, organizational structure, corporate responsibility and ethics LO2 Understand the tools used to develop a strategic marketing strategy 2. 1 assess the value of models used in strategic marketing planningUnderstand and discuss : 1. Models used to develop the strategic marketing strategy, such as Porter’s 5 forces, SWOT, STEEPLE, BCG matrix and Ansoff matrix 2. discuss the links between strategic positioning and marketing tacticsUnderstand and discuss : 1. The nature of strategic marketing position and tactics 2. When strategic plans are put into operation 3. How tactics are related to the strategic positioning 2. 3 analyse the merits of relationship marketing in a given strategic marketing strategyUnderstand and discuss : 1. The nature of relationship marketing 2. Place of relationship marketing in a strategic marketing plan 3. Merits of using this technique LO3 Be able to use strategic marketing
Techniques 3. 1 use appropriate marketing techniques to ascertain growth opportunities in a marketUnderstand and discuss : 1. Setting marketing objectives and strategy , 2. Segmenting the market 3. Targeting 4. Positioning 3. 2 plan how to use marketing strategy options in a marketUnderstand and discuss : 1. Porter’s generic strategies 2. Core competencies and competitive advantage 3. General Electric Model or Shell directional matrix 4. Market positioning 3. 3 create appropriate strategic marketing objectives for a marketUnderstand and discuss : 1.
Marketing mix – 7 Ps (Product, Price, Place, Promotion, People, Process, Physical evidence) LO4 Be able to respond to changes in the marketing environment 4. 1 report on the impact of changes in the external environment on a marketing strategyUnderstand and discuss : The changes and impact of 1. Customer demand 2. Globalization 3. Technology 4. Organizational accountability 5. Importance of customer service 6. Erosion of brands 4. 2 conduct an internal analysis to identify current strengths and weaknesses in a marketing strategyUnderstand and discuss : 1.
The organization’s resources, capabilities 2. The way in which the organization configures and co-ordinates its key value-adding activities 3. The structure of the organization and the characteristics of its culture 4. The performance of the organization as measured by the strength of its products 4. 3 propose strategic marketing responses to key emerging themes in a marketing strategyUnderstand and discuss : The strategic responses to changes by 1. Reducing cost base 2. Improving quality 3. Getting closer to the customer 4. Shorter cycle time 5. Strategic Partnerships 6. Ability to change fast
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