Menu

MBAStrategic MarketingTitle Marketing has evolved from being about sales and advertising to becoming seen as a strategic panacea applicable to all markets and sectors with a set of techniques and tools designed to ensure a customercentric focusor isit

0 Comment

As has been noted marketing has been defined as a function that is responsible for the identification and anticipating the needs of customers and yet being profitable. Marketing involves a number of techniques like research, product design, development, and the four P’s i.e. price, product, promotion and place. It also involves elements like public relations, distributions and after sales services. Together these form the marketing mix. As explained by Doyle (2000), ‘marketing is the management process that seeks to maximize returns to shareholders by creating a competitive advantage in providing, communicating and delivering value to customers thereby developing a long-term relationship with them’ (Wiley, 2009). The marketing contribution in an organization lies in the formulation of the strategies and to a great extent on the right choice of customers, relationship building in terms of trust and also the competitive advantage. Strategic marketing is not only the internal integration but also a focus on the external choices of how the company can meet and address the needs of its customers in the current overly competitive environment. Strategically, the marketing techniques used within a company play a major role in the overall success. The impact of the strategic marketing can allow the companies to use the resources very effectively as well as to ensure reduced costs for the company. Strategically planning the marketing efforts of the company allows the company to work effectively in terms of the finances and the other processes of the company as well.
In the previous times, marketing simply dealt with the sales and advertising and these were the only aspects that were related to marketing in the earlier days. However as time has passed and with the extension of the knowledge and reach of marketing it now have five main elements, these include: a) Ensuring the organization plans remain