Economics

Strategic marketing definition/Strategies/Benefits/Examples

Strategic marketing

The strategic marketing , is in charge of studying the market to achieve its objective in the short, medium and long term, discovering the needs of consumers and how to get satisfy them . Strategic marketing definition

It is the opportunity that a company has once it knows the consumer’s need to provide the service or product that it requires and is of indispensable use for the user.

Among the objectives that strategic marketing seeks to obtain are:

  • Finding new markets so that the company can provide its service or product.
  • Discover the new needs of consumers and how to get what the customer wants. Strategic marketing definition
  • Compare the markets and find and assess what advantages you have over your competition.

Strategies used in marketing

In the strategies that this marketing uses to work, it is important to pay attention to the following:

  • Marketing Mix Strategy: Contains four important factors which are product, cost, information, and placement. Strategic marketing definition
  • Product or service portfolio strategy: compare the products or services and decide their launch considering which will be the most beneficial in terms of profitability.
  • Brand position strategy: products have a place and category in each client, it is about improving the image that is more favorable to achieve a better position.
  • Growth strategy: look for a way to expand developing new products or services including new markets.
  • Segmentation strategy: refers to consumer groups according to their characteristics and preferences and how the company guides the demand of these customers. Strategic marketing definition

Benefits of strategic marketing

The strategic marketing allows the benefits listed below:

Know your users: currently customers are well informed and demand more attention, knowing their preferences is decisive and must be taken into account in the strategy that is applied. Strategic marketing definition

Establish your objectives: allows you to visualize your situation in the market, how you can reach the goal and how much the investment will be.

Distinguish the product before the competition market: offer its customers exclusive products or services with brands that allow the preference of that company.

Examples of strategic marketing

  1. Strategic marketing refers first to the study of the market and secondly what is the situation of the competition and the consumer’s need to develop the product.
  2. Within strategic marketing, different life variables of a certain product can be presented in a company, others are usually complementary.
  3. It is more profitable to use the strategy of loyalty to consumers who already have to be in a continuous search for new customers. Strategic marketing definition

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