Professional Documents
Culture Documents
Final Examination
Final Examination
Final Examination
1)
planning and
direction
4) CI 2)
dessemination
cycle collection
3)
analysis
ii. Write down the phases of strategic marketing also define each
briefly.
The marketing process of any company will make or break the placement of its brand as well as
the satisfaction of its consumers. It is a planning mechanism that lays out parameters for the
overall marketing process and ensuring that the correct markets are reached along with the
tracking of the priorities and objectives of the company. The mechanism offers an actionable
means to assess the status and progress of initiatives.
Planning phase
The strategic marketing design process is particularly critical because it assesses the company's
current status and assesses its internal strengths and weaknesses, technical shifts, external
competitiveness and the cultural change of business.
The four main components of this preparation process are:
Swot analysis
Pestel analysis
Marketing program
Goal setting and market-product focus
Implementation Phase
In the strategic marketing process, this is the main course of action. It is necessary to determine
whether the organization is in a position to accomplish the goal. If the schedule is competently
structured, it can be executed by means of a sales estimate and a budget using the following four
components.
Executing the marketing plan
Designing marketing organization
Developing of planning schedules
Obtaining resources
Evaluation or Control Phase
This is the process of verification which ensuring that the outcomes of the strategy are compatible
with the priorities set. Any deviations in the schedule should be found and corrected immediately.
The evaluation of a marketing strategy's efficacy requires the emphasis on:
Measurable as against vague
Strategy as against tactic
Actionable as against contingent
Marketing strategy
The method of using the available information to record a company's expected course and the actionable
measures to achieve its objectives is the formulation of strategy.
Competitive Industry position Product/ market strategy
advantage
Strategic formulation