A successful strategic marketing process is one that understands the consumer’s satisfaction and by scanning their needs through regular surveys and other customer relationship processed as shown in Appendix VI. This scanning process will guide the market target and define what adds value to the customer, organization and the other stakeholders. (Ansoff, 1965). Once the value has been defined, the strategic market process will distribute the products and services to the consumers by use of integrated methods to optimize costs and ensure efficiency and timeliness.
There are various pricing strategies that may be adopted by the marketing plan but these will all depend on the cost of production and efficiencies of operations that follow. (Porter, 1980). This process can be approached as shown in appendix III. In order for the consumers to be informed of products and services that are available for sales, whether existing or new launches, strategic marketing recommends the use of integrated marketing communication to maximize information outreach and sales.
A clear understanding of the product as shown in appendix IV, is important so that it can be properly position in the appropriate market segment and will maximum value return. This knowledge leads to best decision of product strategies
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An in-depth understanding of all the major strategic marketing concepts mentioned in this paper will be arrived at after carrying out an integrated market analysis that is either internally driven or externally driven or both. Market research is credited in strategic marketing for giving an insight into the extended ‘Ps’ and their corresponding ‘Cs’ in marketing. After a successful conclusion of the market research, any organization will be able to participate in both direct and indirect competition with the other segment players. (Kottler, & Keller, 2006); (Porter, 1980) Strategic marketing The strategic marketing concept is wide and deep.
It requires an understanding of the consumers needs from a demographic beginning point and from a value end point. Thus the consumer must be well defined in terms of what they prefer and what offers a solution to their problems satisfactorily. This understanding will then lead to a strategic market targeting process so that the producing organizations can train their resources efficiently and effectively. The common strategic marketing approach is to segment the consumer market, target the consumer market then position the products by an elaborate distribution channel at the convenience of the customer.
(Kottler, & Keller, 2006); (Johnson & Scholes, 1999). Consumer will normally attach value to the products or services on offer on one end while the marketing organization will be using this value to determine the pricing strategy such as low pricing, premium pricing, discount pricing and many others. Depending on the cost of production in the value based management process, the products or services can also be priced by mark up, break even, value pricing, psychological, geographical, discriminatory, and other types. The choice will depend on consumer behaviour and aspects that will influence them to buy products. (Kottler, & Keller, 2006).