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INTRODUCTORY NOTES

1. Marketing is the process to seek and satisfy needs and wants of the customers by giving value to them and getting
value in return, & is an exchange process. It is a systematic attempt to fulfil human desire by producing goods &
services that people will buy. Marketing is a dynamic process and evolving in nature; what customers need today,
they may not need tomorrow. “The right product, in the right place, at the right time, at the right price ”. Strategic
marketing is a method through which an organization differentiates itself from its competitors by focusing on its
strengths to provide better service and value to its customers and achieve competitive advantage.
2. Marketing Strategy vs Strategic Marketing.
a. Marketing strategy is short-term roadmap which entails understanding the environment the business is
operating in customers, competitors, laws, regulations and then planning marketing strategy to make the
business a success. The primary focus of marketing strategy is to effectively allocate and coordinate marketing
resources and activities to accomplish the firm’s objectives within a specific product market. This level
encompasses Segmentation, Targeting & Positioning (STP). This level also includes Branding; shaping &
managing the perception of customers to achieve Brand Identity, through value addition.
b. Strategic Marketing. An approach that looks at marketing in the long term. In other words, how does the firm
best drive CLV (Customer Lifetime Value) - from the firm's installed base of customers as well as potential
customers. CLV is simply, the discounted cash flows that accrues to a firm or brand over the lifetime of a
relationship with a customer or an installed base of customers.
(External / Internal Analysis – Market-driven strategy – long-term performance & vision)
c. Marketing Driven Strategy. Which is formulated based on the customer’s needs and wants and the prevailing
envmt. It entails an org to become 1) market oriented, 2) determine distinctive capabilities, 3) match customer
value reqs to capabilities, and 4) deliver superior customer value.
d. Market Orientation. Defined as the org’s culture of wide generation of market intelligence about customer’s
current & future needs, dissemination of intelligence across depts and org’s response to it.
e.