Strategic Marketing Homework Help
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The companies that supply products to the market always run the risk of being declared inferior as compared to other products in the same range. This is where strategic marketing comes into the picture. To maximize the sales, it is necessary for the company to bank upon the advantageous characteristics it has over other products. Strategic penetration of the target market and maintaining consistency as the best viable option in the product or services being provided is the purpose of following strategic marketing. It looks after consumer satisfaction that will ultimately win over the market. The basic questions that are sought to be answered are when the correct time to enter a particular market is and how exactly should it be done. Because this puts a company in a better position, the decisions are taken after thorough research and analysis. The requisite of a well devised strategic marketing is the clarity of understanding what the changes in the framework of the company should be to be striving towards providing the best product. The goals of the organization need to be understood with great clarity too. The role of strategic marketing is one of immense importance. For proper understanding of the lucid account, go through Strategic Marketing Help.
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Facets of Strategic Marketing
1. Aim and plan: The well defined structure of aims presents the desired production outcomes, their distribution and marketing. The plan attached to it on the other hand, lays the road map for its execution. For instance, the company name branding is something an organization aims at. The plan is the strategic step which decides which media to be used along with the proper forums and approaches. For more information on the subject matter, go through Strategic Marketing Help.
2. Positioning of the organization: Until the exact financial status of the company has been picturised, further estimations on the returns front cannot be made. That is why, it is extremely crucial to analyze the previous strategies undertaken to compare with the profits. This will determine the success or failure of the previous strategies and thus pave path for better marketing strategies. The help of SWOT analysis is often taken to determine the current positioning of the company. For more insightful details on the subject, refer Strategic Marketing Help.
3. Market: The existing markets have to be maintained but simultaneously, the venture has to be done to discover new market possibilities. The target market segment should be kept in mind while planning the strategy. The demographics should be well researched and studied so as to provide them satisfaction with the product and create a loyal group of customers. The competitions in the market have to be dealt with wise decisions. The competing companies’ previous statistics and financial position can help make better strategies. For more information on the topic, refer Strategic Marketing Help.
4. Budget: All the plans shall have no value without a practical budget plan. It needs to be set while keeping in mind the previous statistics of the company and the expected profit metric in the financial year. For more details, refer Strategic Marketing Help.
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