Strategic Marketing Report 2022

Running head: STRATEGIC MARKETING
STRATEGIC MARKETING
Name of the Student
Name of the University
Author note

STRATEGIC MARKETING1
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Application of strategic marketing concepts to marketing mix.............................................2
Ansoff Matrix (Growth and consolidation)............................................................................2
Porter’s generic theories.........................................................................................................3
BCG matrix............................................................................................................................3
Application of resource allocation theories to the marketing mix strategies.............................7
Conclusion................................................................................................................................11
References................................................................................................................................13

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Introduction
The process of aligning all the activities related to marketing of an organization in a
way such that the strategic objectives of the organization are met is known as strategic
marketing (Drummond, Ensor & Ashford, 2010). It involves putting the right resources to
right place and also ensures best or the optimal use of the resources present within the
organization. For having this done, it is essential that the marketing mix of the organization is
properly recognized and understood (Wilson, 2010). Only then, the organization will be able
to satisfy the people they have in each segments of the market. Using the segmentation and
positioning of the marketing mix, the strategic marketing can give a support to the target the
marketing instruments for the organization and this will eventually help in reaching the
market and accordingly formulate the objectives of marketing (Lancaster & Massingham,
2017).
This report discusses about the strategic marketing of marketing mix and the
appropriate allocation of the resources that are tangible and intangible in nature and how the
company will utilize these for achieving the marketing mix strategy.
Discussion
Application of strategic marketing concepts to marketing mix
There are several of strategic model that the organization can adopt that will help the
organization to grow in the future.
Ansoff Matrix (Growth and consolidation)
The growth matrix is a tool that helps the business in deciding the strategy for market
growth (Dawes, 2018). The business growth of any organization is dependent upon the new/

STRATEGIC MARKETING3
existing products on new or existing market. The out of this matrix is a set of strategies for
growth that help in setting a direction for the strategy of the business (Yin, 2016).
Consolidation is when the organization protects its position in the current market with
the products that are new. It requires the reshaping of the structure by the help of
withdrawing some activities that are incorporated (Schawel & Billing, 2018). Improving and
making innovations with the product is very important while consolidating.
The matrix fails to show that there is a requirement in changing the business that
include the market development and the strategies related to the diversifications.
Porter’s generic theories
There are three main approaches that is related to the Porter’s generic strategies
namely cost leadership strategy, differentiation strategy and the focus strategy.
The cost leadership theory helps the organization to target a market that has a broader
range or a market where the demand of very high and then offers the possibly lowest price.
The differentiation strategy also focuses on the market that has a comparatively high demand
but in this the product or service of the company is made unique and different from others.
Similarly, the focus strategy helps the organization to identify a niche market and then launch
the product or service that has a particular product line and is specific (Ouma & Oloko,
2017).
However, it was observed that the generic strategies of Porter was too broad and
suggested only two dimensions of the business strategy that included scope of the business
and differentiation of the product or the service of the company. Thus, if scope as kept aside,
the only competitive advantage that remained had only one dimension and that was
differentiation.