Strategic Marketing and Marketing Strategy Essay - 825 Words

Strategic Marketing and Marketing Strategy (Essay Sample) Content: The Title: Strategic marketing and marketing strategyName of the scholarly journal: Academic of Marketing Science.Date of the Article: 28 October 2009Author: Rajan VaradarajanStrategic marketing and marketing strategy.IntroductionStrategic marketing comprises of a different combination of various competitive advantages that a company has in the markets. On the other hand, economist has explained marketing strategy as both fundamental and long run activities of marketing that deal with the initial analysis of strategic plan, the selection of the market, and valuation of the market and the selection of market-oriented strategy with the aim of achieving market objective (Armstrong 1992).The evolution of strategic marketing as a topic of concern in business has influenced research on theories and the concept of marketing. Chief of them, being strategic marketing, and marketing strategies in an effort of trying to capture a wide range of the market (Rajan 2009). For instan ce, a thorough analysis of marketing strategy literature in the past; has brought a diverse view concerning strategic marketing.Main points in the journal article.The journal paper focus on strategic marketing as a field of study; provide a clear definition of marketing strategy, and points on foundation grounds that make ups the marketing strategy.Research carried out by Abell in 1980 reveals that key foundations of strategic marketing planning encompasses; the learning and understanding of administrative portraying how the firm and consumer interact in the market, the inter-organizational study -which at broadest level define marketing strategy as way in which organisation collude together and form a pattern in decision that facilitates consumer choice concerning the product, communication, marketing and delivery of the product to the consumer (Abell 1980).The second main emphasis on the journal is the clear definition of marketing strategy. Different authors have proposed va rious definition of marketing strategy. The latest definition of marketing by American Marketing Association in 2007 define strategic marketing as the activity, or the process for communication and exchange that have value for customer, producer, and society at largeà ¢Ã¢â€š ¬Ã‚ .Thirdly, the Journal points out the key fundamental issues for strategic marketing. Research by Hunt (1993) and Meyer (1991) proposed the following as among fundamental issues to strategic marketing. * What pinpoints out differences in the marketing behavior of competing business in the market place? * What brings out differences in market and financial performance of competing product?The relevance of article in the management of an emergency service.Understanding the key component of strategic marketing and the marketing strategy is relevant to the management of marketing department. It enables the management to understand the fundamentals and strategies of sound marketing skill, thus increasing the sa les ( Ahuja, 2001).Implementation of marketing strategies.Clear understanding of organization behavior as it has interacts with the customer, can be implemented by marketing manager after thorough understanding of consumer utility and organizational productiv...