Strategic Marketing : Marketing Strategy

3559 Words Jan 11th, 2015 15 Pages
STRATEGIC MARKETING REPORT

WHAT IS STRATEGIC MARKETING?

“The primary purpose of a marketing strategy is to effectively allocate and coordinate marketing resources and activities to accomplish the firm’s objectives within a specific product market.
Hence pronouncements about the possibility of a marketing strategy contain specifying the target-market fragment(s) to be trailed and the artefact line to be vacant. Then, organisations pursue a modest advantage and synergy, preparation a well-integrated program of marketing mix elements.” (Boyd, 1998).
PRINCIPLES OF MARKETING
Principles of marketing are normative avowals about marketing that state a circumstance lagged by a suggested action ( (Armstrong, 1994)
The word “normative” simply means explicating a median, where median is an authoritative rule. Thus, principles are action phases or rubrics that are authoritative in the sagacity that they work in a specified condition.
Alternative mode of observing at marketing principles is that they are operational guidelines, convincing managers how to deed in a assumed condition
The arena of marketing strategy reflects the total marketing environment and its effects on a company or merchandise or service. The stress is on "an in depth understanding of the market environment, particularly the competitors and customers."( (Acker, 1988)
A marketing strategy reflects the means a firm has, or is obligatory to assign in exertion to attain an objective. Marketing Strategies comprise the…
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