Organization considers marketing of their products as one of the most difficult task as it involves meeting of certain qualifications. Strategic marketing process is defined as the process of a sales person being in the position of targeted customer whereby he or she considers what an individual is looking for in a good or service. It is a marketing strategy in which the person considers how and where he or she can find most attractive products as they are packaged and presented in the market place.
This therefore means that strategic marketing process calls for an individual to be innovative and use brains for purpose of attracting more customers. Proper marketing is a very important component for every company as it helps to improve performance. The Strategy applied in marketing process involves two cognitive fields of business management which includes marketing and strategic management. In order for an organization to meet the needs of its customers, both internal and external environmental conditions should be met (Omotayo, 2009).
External factors in this aspect refer to the state of economy and consumers income. Internal factors constitute factors which can be changed by the firm such as conditions of producing and offering products. Understanding strategic marketing process is a very critical step that should be considered by an individual or organization in dire need of engaging in marketing of products or services. The most important aspect is to implement strategies that ensure the product reaches the target customers. The first step to understand strategic marketing process is to know the product or service being marketed.
A key aspect of strategic marketing process is to provide clear information about the benefits of product and service (James, Sean, 2006). This relates to packaging, free samples, advertisement or after sales service which aims at attracting customers. All these activities are carried out with a view of impressing customers to buy goods and services for a particular business entity. Strategic marketing process is characterized by three main phases which include planning, implementation and control. Planning phase is the most important aspect in strategic management process.
The first step of planning is performance of SWOT analysis which helps the organization to evaluate its position in regard to its relation to the market. In addition, it is one of the most critical steps necessary to understand external and internal factors which either favor or fail to favor organization’s activities. The firm before deciding to market its products is deemed to analyze its strengths, weaknesses, opportunities and threats. A thorough SWOT analysis helps an entity to minimize threats as it looks forward to maximize opportunities.
Information acquired through SWOT analysis will also help a firm to set its marketing mix. This is done with a view of setting achievable and realistic goals which are attainable by the organization. The second step in the planning phase involves taking a market product approach with a view of setting goals and objective. The critical aspect of this step is determination of consumer’s wants and needs. It is achieved through a market research conducted by experts in the corresponding act of marketing strategy.
One key issue that needs to be addressed in this step is identification of critical issues and attitudes in relation to the product. Specific information gathered in the research process should reflect individual needs of product and both external and internal competencies relating to the organization. The main area of concern is an analysis of the entities special skills, technologies, capabilities, and points of difference. The acquired information therefore, is used by managers to come up with a strong marketing plan.
The use of a business portfolio is important as it helps to determine whether a product or service will succeed or fail in the market. The third phase of planning is making decision on the marketing process which calls for a review of the marketing mix. This step basically involves implementation of the 4p’s such as product, price, place and promotion. Information acquired from market research is used to organize marketing mix through application of strong strategies (Shiman, 2006). Product as a component of the 4p’s is a very important element which should meet the needs of the end user.
Price, placement and promotion should be considered as per data supplied through the planning process. Implementation is the other phase whereby all plans in the previous phase are executed or put into action. Resources are obtained by the firm and a proper design of the market organization is put implemented. Development of schedules is done and marketing strategies are executed for purpose of promoting the product. Goods and services are availed into the market place at affordable prices as are designed in the planning phase.
Close monitoring is made at this phase to ensue that necessary changes are felt upon implementation of external and internal contingencies. The final phase of strategic marketing process is control which involves making a comparison between results against goals and benchmarks established in the planning phase. The organization at this particular time evaluates its outcomes, process and customer satisfaction. It is a critical step which ensures a proper analysis of deviation of results from the plan. The positive deviations are exploited by the form while correcting the negative deviations (Omotayo, 2009).
It is a phase used to ensure that a firm’s marketing plan is as per the provisions of the planning phase. Another major objective of this phase is to measure whether the objectives of the firm are being met. Marketing mix The marketing mix which includes product, price, pace and promotion make up the marketing process. It helps a business create market segments through application of certain components relating to marketing mix. The division of market according to existence of different homogenous groups within the market constitutes to market segmentation.
The division is made possible through application of marketing mix which results to geographical, demographic, psychological and perceived product benefits. Other than offering same marketing mix to different customers, market segmentation helps to create specific target markets which lead to satisfaction of customer needs. Promotion of products helps to create different market segments as goods and services reach various geographical locations. The price of products is a major contributor to market segments as they are set according to attitudes, values or lifestyle.
In addition, the price sets behavioral segmentation which is based on variables like price, brand loyalty and patterns. Products are produced to meet different class of needs such for the aged, gender, income, ethnicity, status of family and education (James, Sean, 2006). Place is another variable used to create market segments as per location on the basis of region, rate of population growth, and climate. Creation of market segments through marketing mix is a very important element that leads to existence of customer loyalty.
Setting proper price on products attracts customers to like it as customer’s needs are met. A customer will always be attracted to a certain product over the other by considering its price. Promotion is also another key issue that makes a customer to be loyal to a certain product over another. This is because the product is always availed near the location of a customer and hence it becomes very easy to constantly purchase the same product. Promotions that are accompanied by free gifts ensure that a customer always uses the product of a certain company.