The purpose of this paper is to briefly explore the strategic marketing process, specifically the key phases of planning, implementation, and control. In addition, the application of mixed marketing to create a market segments as well as customer loyalty is equally explored. Several relevant scholarly sources were identified to provide research and information about the strategic marketing process and its evolutionary development from the industrial to the information technological age.
Strategic Marketing Process and the Key Phases
Tony Proctor, in his book, Strategic Marketing: An Introduction, defines a strategy as a plan that incorporates and integrates an organization’s mission, major goals, policies, decisions and "sequences of action into a cohesive whole" (2000, p. 1). All levels of an organization, including functional areas can have a strategy for achieving its specific goals and objectives (Proctor, 2000). This means that the strategy process is defined according to how a specific strategy is formulated (Proctor, 2000). Proctor suggests several approaches to strategic planning, i.e. rational, flexible, creative, behavioral, and incremental (2000). For example, rational approaches incorporates the strengths, weaknesses, opportunities, threat (SWOT) analysis and portfolio models, while flexible approaches are based on scenario planning. Creative, behavioral and incremental uses imagination, personality and power influences, and small adjustments to previously successful strategies, respectively (Proctor, 2000).
According to Ferrell and Hartline, there are several components of strategic marketing organizational leaders must consider: planning, implementation, and control (2008). ...
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..., & Meenaghan, T. (1995). A relationship marketing approach to spectators as consumers. IBAR 16, 86+. Retrieved from http://www.questia.com/read/5037752610?title=A%20Relationship%20Marketing%20Approach%20to%20Spectators%20as%20Consumers
Ferrell, O. C., & Hartline, M. (2008). Lessons from chapter 2. In Marketing strategy (4th ed.). Florence, KY: Cengage Learning. Retrieved from http://academic.cengage.com/resource_uploads/downloads/0324362722_79312.doc
Ferrell, O. C., & Hartline, M. (2008). Lessons from chapter 11. In Marketing strategy (4th ed.). Florence, KY: Cengage Learning. Retrieved from http://academic.cengage.com/resource_uploads/downloads/0324362722_79321.doc
Proctor, T. (2000). Strategic marketing: An introduction. London, England: Routledge. Retrieved from http://www.questia.com/read/102828251?title=Strategic%20Marketing%3a%20An%20Introduction#
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