Marketing topic 5 - Strategic Marketing

Question 1

Strategic marketing definition

Answer 1

Strategic marketing is the tool that allows us to viably and continuously adjust the company’s objectives and resources to changing market opportunities.

Question 2

Stages of strategic marketing - Organisation

Answer 2

1. Define the mission (the mission must be specific, realistic and based on its differential competencies. The mission must be market-oriented and defined in terms of need satisfaction)
2. Delimit the goals (The organisation needs to convert the mission into objectives details that lend themselves to being achieved by developing concrete action)
3. Design the business portfolio (Its planning consists of two stages: Analysis of the current portfolio to decide the commercial attention of each group. And formulation of the future portfolio (to link growth strategies, diversification or reduction)

Question 3

Stages of strategic planning - area marketing

Answer 3

1. Target Market (it will be the part of the market that is most attractive to the organisation)
   For its determination: First you study the market, surely segmenting it. Then you evaluate the attractiveness of each market.
2. Positioning (The clear distinctive and desirable position against competing products in the minds of the target market)
   For its determination: Define the competitive advantages. Create a differentiated offer supported by the greatest contribution of value. Communicate that positioning.
3. Value chain (The success in the market also depends on the activities of each department coordinated)
4. Value network (These relationships and coordination are also necessary with all those elements that intervene in the delivery of value)