What Is Strategic Marketing And Why Is It So Important?
- 8th October 2021
- Online Learning
In the recent few years, the term strategic marketing or otherwise known as a marketing strategy has become a buzzword among all types of companies that are looking to build on their competitive advantage.
But, there still exists quite some confusion regarding strategic marketing planning and the role it plays in increasing an organisation’s popularity among the target audience.
In this article we have tried to explain a few reasons that make the process of strategic marketing so critical to commercial success, and why it can be a great choice for next-generation business professionals, like you, to opt for a strategic marketing course in London.
Keep reading to learn about some of the top benefits of strategic marketing planning and ways it can help you underpin every marketing activity that the international business platform relies on.
What Is Strategic Marketing?
Strategic marketing is one of the finest business techniques that an organisation can leverage to provide value and better service to the customers, thereby differentiating itself from its competition by emphasizing its strengths.
The primary goal of strategic marketing planning is to get creative with the marketing mix by laying a framework for fundamental change related to how a company works and engages with other industrial sectors.
Besides giving you a total understanding of an organisation’s aspirations and capabilities, undergoing a master in strategic marketing programme can also equip you with the professional skills required to maximise your business’ profitability.
Why Is Strategic Marketing Important?
Strategic marketing integrates your business with a marketing plan that dictates the direction of the entire organisation and how the general business processes must be executed.
It takes into consideration various factors such as the competitive environment, demographic behaviour of the customers and organisational performance to achieve business goals.
This form of business-to-business [B2B] marketing genre is well-curated to address the organisational needs that can support a company through its transition into a better version.
Opting for an MA in strategic marketing will enable you to realise a set of defining questions including the type of markets to compete in, making a draft of the business's competitive advantage and figuring out ways to enter different global markets.
What Are The Phases Involved In The Strategic Marketing Planning Process?
Strategic marketing consists of a set of actionable and evaluated phases that together ultimately contributes to the performance of the company.
Let’s find out more about them.
- Planning phase – This involves the strengths, weaknesses and technological assessment, which are required to finally present the marketing idea to the management.
- Goal setting – this is useful for marketing a product in a manner that becomes indispensable for the customers.
- The four P’s - the next step is to follow the price, place, product and promotion strategies related to the brand.
- Implementation phase - this stage of the strategic marketing plan consists of four vital components including the collection of resources, developing a marketing hierarchy, formulating schedules for the tasks allocated and finally, efficiently executing the plan.
- Evaluation phase - the final phase of a marketing strategy is to determine if the product goals are aligned with the brand objectives, making any edits or improving the plan if required.
What Is The Importance Of Strategic Marketing For Business?
Strategic marketing planning is probably the best option out there for companies to survive and flourish in the constantly changing international business environment.
The following pointers will give you an in-depth understanding of the benefits that you can reap with a fully integrated marketing strategy campaign:
- What are the four types of marketing strategies?
Strategic marketing works to learn more about its target audience and build up an engaged following, to get exposure as affordably as possible.
Here’s a list of marketing strategies that you can hone by completing a strategic marketing course from London:
- Integrated planning
- Content marketing
- Organic search
- Social media marketing
- Marketing automation
- Multi-channel analytics
- What is the purpose of strategic marketing?
Having a well-structured strategic marketing thinking process within an organisation is crucial for guiding the company management in making the right business decisions, relevant to the mission, vision and values.
- How can I improve my marketing strategy?
Strategic marketing planning is a well thought out process for advancing your marketing activities, by establishing clear business goals.
Increasing your knowledge about strategic marketing can not only help you gain a good understanding of where the organisation currently resides, in terms of brand recognition, but also provides you with a better insight into the industry that you're currently engaged with.
London School of business and finance [LSBF] offers an online postgraduate course in strategic marketing that can help you frame effective business goals, keeping them specific and measurable at the same time!
To find out more about the master in strategic marketing online course, click here.
This article was written by Deblina Dam
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