Definition of strategic marketing, There is a lot of content that talks about B2B strategic marketing, but in our opinion, it is not strategic marketing at all.
What is Strategic Marketing?
Strategic marketing is integrated with many marketing and business careers to help companies get the most out of what the consumer wants.
Here we define strategic marketing and look at some of the degrees and careers in marketing. Schools that offer degrees in marketing are also found in these popular options.
Strategic Marketing Definition
Strategic marketing relies on market knowledge to develop a customer-centric strategy or plan and approach for marketing campaigns with the ultimate goal of profitability for the business.
To define strategic marketing, you must also consider how this strategy is applied to concepts such as marketing research, social media marketing, consumer behavior, etc.
Strategic marketing becomes a necessity for companies to understand their consumers and the market, and then to develop marketing strategies that drive their organization in these markets.
Marketing Strategies vs. Marketing Plans
The marketing strategy provides information on the marketing plan, which is a document that specifies the specific types of marketing activities that a business should undertake, and includes timelines for launching various marketing initiatives.
Marketing strategies should ideally have a longer lifespan than individual marketing plans, as they contain value propositions and other key elements of a company’s brand that are generally consistent over the long term. In other words, marketing strategies cover global messaging, while marketing plans describe the logistical details of certain campaigns.
Scientists continue to discuss the exact meaning of marketing strategy, so there are several definitions. The following quotes help to crystallize the nuances of (modern) marketing strategy:
- “The sole purpose of marketing is to sell to more people more and more often and at higher prices.” (Sergio Zyman, marketing director and former distributor of Coca-Cola and JC Penney)
- “Marketing is no longer about what you do, but about the stories you tell.” (Seth Godin, former managing director and entrepreneur)
- “The objective of marketing is to know and understand the customer so that the product or service suits them and sells.” (Peter Drucker, recognized as the founder of modern management)
- “The marketing work is never finished. It is a constant movement. We have to keep innovating every day. “(Former Vice President and Director of Marketing, GE)
- “Take two ideas and put them together in a new idea. What is a snuggie other than the mutation of a blanket and a dress?” (Jim Kukral, speaker and author of “Attention!”)
The Creation of Marketing Strategy
A carefully crafted marketing strategy must be fundamentally embedded in a business value proposition that sums up a company’s competitive advantage over competing businesses. For example, Walmart is widely known as a “daily low-priced” discount store whose business processes and marketing efforts revolve around this idea.
Whether it is a print ad design, a mass adjustment or a social media campaign, a marketing asset can be assessed on the basis of effective communication of the central value proposition from a company. Market research can be useful in determining the effectiveness of a particular campaign and in identifying unused target groups, in achieving net goals and increasing sales.