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STRATEGIC MARKETING MANAGEMENT
Marketing management relates to specific product marketing strategies.
While strategic marketing focuses on broad strategic decisions, marketing management is concerned with specific strategic decisions for individual product marketing plans and day-to-day activities needed to execute these strategies successful.
Marketing has to be structured as a process rather than a stand-alone function, transforming all parts of the organization into a federation, focused solely on customer development and fulfillment. Customer issues will then be treated anywhere in the organization rather than being stalled between functional barriers.
Marketing Management Tasks
The tasks performed by marketing management include the following;
1. Developing market strategy and plans
2. Capturing marketing insights
3. Connecting with customers
4. Building strong brands
5. Shaping market offerings
6. Delivering value
7. Communicating value
8. Creating long term growth
Shifts in Marketing Management:
Marketing management has in recent times shifted from the traditional marketing management focus to modern marketing management systems, among which are the following fifteen (15) identifiable shifts.
1. From marketing does the marketing to everyone does the marketing
2. From organizing by product units to organizing by customers segments
3. From making everything to buying more goods and services from outside
4. From using many suppliers to working with fewer suppliers in a partnership
5. From relying on old market positions to uncovering new ones
6. From emphasizing tangible assets to emphasizing intangible assets
7. From building brands through advertising to building brands through performance and integrated communications
8. From attracting customers through stores and salespersons to making products available on line.
9. From replacing monologues with customer dialogues
10. From selling to everyone to trying to be the best firm serving well defined target market
11. From focusing on profitable transactions to focusing on customer lifetime value
12. From a focus on gaining market share to a focus of building customer care
13. From being local to being “GLOCAL” i.e. being both global and local
14. From focusing on financial scoreboard to focusing on the marketing scoreboard
15. From focusing on shareholders to focusing on stakeholders.
The Role of Strategic Marketing
Strategic marketing refers to all the marketing activities that affect corporate, business and marketing strategic plans.
Strategic Marketers role is to orient organization towards consumer-led culture and help gather and analyze information required to examine the current situation, identify trends in the marketing environment and asses the potential impact of these trends. The Strategic Marketers are involved in the development of corporate business and marketing strategic plans.