- Task 1
Start your report by evaluating the role of strategic marketing in an organization. You need to show that you understand the difference between strategic and tactical marketing. You need to use established models and definitions to develop your discussion. (LO_1.1) Then, explain the processes of strategic marketing by looking at the range of strategic marketing planning processes. To further develop your explanation, you may include your own experiences gained by working in the organization. In your explanation you should include a perceptual map which displays the perceptions of potential or current customers. (LO_1.2)
In the next section of the report, demonstrate how you will synergize the links between corporate strategy and strategic marketing. Special reference must be made on how you will develop a marketing plan which links to the mission statement and respects corporate responsibility and ethics (LO_1.3)
Furthermore, in your report you have to assess the value of strategic marketing models. Moreover, you are required to make judgements and assess the value of these models (LO_2.1). In another section, discuss the links between strategic positioning decisions and marketing tactics. Provide examples of how marketing tactics are related to strategic positioning decisions. In your report, show how product, place and price tactics enhance strategic positioning (LO_2.2).
In the last part of your written report, you need to analyze the merits of relationship marketing in a strategic marketing strategy. Demonstrate how authors such as Prof. Adrian Payne and David Ballantyne have emphasized the importance of customer retention and downplayed the importance of transactional marketing. For this, you need to provide example as how relationship marketing fits
in a strategic marketing plan.(LO_2.3)
For the organization that you have selected you must identify opportunities of growth within the market. Ensure that your evidence includes real time data from the idenfitied organization and market. The data used may include, but is not limited to, economical data, statistical data, retail sales analytics, behavioural analytics etc. (LO_3.1) You must then use the opportunites of growth identified in LO_3.1 and plan how marketing strategy options in the market can be used. In order to meet this criteria you must first show that you understand the importance of marketing strategy options by making reference to a number of models and strategies suggested by different authors and then apply them to the organizational context you have chosen (LO_3.2). Finally, you must create appropriate strategic marketing objectives for your organization. The strategic marketing objectives must follow logically from the research you would have had prepared in the previous Learning outcomes. To ensure that your marketing objectives are comprehensive you may refer to the seven marketing P’s, e-marketing strategy, customer relationship management and other relevant strategies (LO_3.3)
Rises in consumer expectations, developments in technology and globalization are some of the many external factors which may affect your marketing strategy. In the next section, you need to discuss the impact of changes in the external environment on your chosen marketing strategy (LO_4.1). Furthermore, conduct an internal analysis to identitfy the current strengths and weaknesses in your marketing strategy. Consider how your marketing strategy links to corporate strategy, its position within the e-market, the speed and ability to develop/customise products, and its link to budget, monitoring and control mechanisms. (LO_4.2) Finally, propose strategic marketing responses to key emerging themes, on both a national and international level, in the marketing strategy. To do this you may, apply your understanding of socioeconomic changes as well as the strengths and weaknesses of competitors to emerging themes in the purposed marketing strategy. (LO_4.3)