Coursework in a strategic marketing track may include marketing communication online and social media marketing supply chain management financial decisions retail management and international business. Such as logistics management or marketing management which take over once strategic management decisions are implemented.
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Strategic marketing management from my perspective is about understanding and applying marketing from the perspective of your main objective.
What is strategic marketing management. Strategic management involves the formulation and implementation of the major goals and initiatives taken by a companys top management on behalf of owners. Marketing strategy highlights the role of marketing as a link between the organization and its customers. While operational marketing marketing management is concerned with developing a suitable marketing mix to realise a set of defined business goals strategic marketing on the other hand is concerned with defining what the business needs to be and become to consistently beat the competitors by delivering consistently better value.
Strategic marketing management is fundamentally designed around your target customer. Strategic marketing management is an immersion in the core principles of successful marketing. Strategic marketing and marketing management are similar yet different in various ways.
Youll uncover the winning formulas of market leading brands learn how to use analytics to pinpoint your most profitable customers and package solutions that fulfill their unmet needs. Creating customersbusiness is about creating value and the sales and marketing aspect of business is to create customers for this value. Most of our readers get confused between strategic marketing and marketing managementthis article sets out to differentiate between both of them and explain to you what is the role of strategic marketing as well as the role of marketing management.
Identifying your target customers will generate more profits and helps to establish a loyal customer following. Strategic marketing as a distinct field of study emerged in the 1970s and built on strategic management that preceded it. Definition of strategic marketing.
Draw on strategic marketing concepts to develop an integrated customer centric marketing plan that delivers growth. Also several schools offer short term strategic marketing management programs that may last from two days to a few weeks. Identification of one or more sustainable competitive advantages a firm has in the markets it serves or intends to serve and allocation of resources to exploit them.
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