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Developing And Managing A Strategic Marketing Plan

   

Added on  2021-02-19

16 Pages4662 Words73 Views
Developing and Managing a StrategicMarketing Plan & Apply StrategicMarketing Techniques

Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................11.1 Role of strategic marketing...................................................................................................11.2 The process involved in strategic marketing ...................................................................21.3 the links between strategic marketing and corporate strategy .........................................3TASK 2............................................................................................................................................42.1 Assessing the models used in strategic marketing planning ...........................................42.2 The links between strategic positioning and marketing tactics .......................................42.3 Analyse the merits of relationship marketing in a given strategic marketing strategy....6LO 3.................................................................................................................................................73.1 appropriate marketing strategies.......................................................................................73.2 marketing strategies for growth .......................................................................................73.3 appropriate technology for the Zara................................................................................94.1 impact on the external changes in the marketing strategy..............................................104.2 internal analysis to identify weakness and strength......................................................114.3 Responses of strategic marketing on emerging themes..................................................12CONCLUSION .............................................................................................................................13REFERENCES..............................................................................................................................14

INTRODUCTION Strategic marketing management defines the mission that company implements throughthe defined process that helps it to take out the most effective from present marketing plan inorder to identify target market as well as marketing opportunities (West, Ford and Ibrahim,2015). Zara is the fashion retailer which is situated in Galicia,Spain. It was established in 1975and which was founded by Amancio Ortega and Rosalia Mera and it has its headquarters situatedin Arteixo, Spain. It deals in the products like clothing, accessories, shoes, beauty products etc .It has 10000 stores (Zara stores worldwide, 2016) located in worldwide. It will also include the relationship between the strategic marketing and corporatestrategy as well as the tools and models used for strategic marketing planning. It will alsocontain the impact of external environment on the strategies and internals analysis to identifystrengths and weaknesses as well as emerging themes for marketing strategy.TASK 11.1 Role of strategic marketingStrategic Marketing is the way a firm effectively differentiates itself from its competitorsby capitalising on its strengths (both current and potential) to provide consistently better value tocustomers than its competitors. Strategic marketing roles that can help 'Zara' in the followingways:- It can help in determining in which market areas the company will compete. It can helpcompany in how to develop a market strategy on the basis of the company's competitiveadvantage in order to compete (McDONALD, 2016). It can help company to decide when toenter into the markets and in what way.Difference between strategic and tactical marketing:BasesStrategic marketingTactical marketing.Goal achievement processThis marketing involves theunderstanding of the targetmarket or customers in orderto gain the competitiveadvantage at the same time itcan help 'Zara' company toThis marketing involvesdetailed process to achieve theobjectives while strategic onlyfocuses on the goals oforganization. This marketingcan help 'Zara' company to1

decide regarding the businessobjectives and for that thecompany need to be up-to-dateregarding the trends as well ascompetitive position. In order to achieve theobjectives company need tomake the strategy. Strategicmarketing helps the companyin analysing strengths andweaknesses of the companyand this marketingconcentrates on long termobjectives such as growing thebusiness and demographics(Andaleeb and Hasan, 2016)choose the target customers bycreating tactics in order toinfluence the marketingstrategies.It helps the company indetermining correctpromotional media and whichchannel of marketing iseffective for company. Tacticalmarketing involves advertisingand promotional tactics inorder to aid the marketingstrategy.FocusIt emphases more on gapanalyses and filling that gapproperly so that company canachieve its goal It emphases on creating newtactics that may support ingaining positive results byunderstanding more aboutconsumer profile. 1.2 process involved in strategic marketing Strategic marketing process can help 'Zara' in assessing and finding the opportunities andprovides a clear direction in order to achieve the objectives and to create a brand name andcustomer loyalty (Josephson, Johnson and Mariadoss, 2016). the following steps are :-A) Mission:- The first and foremost step in strategic marketing is 'Zara' company need to findout the reason why it is present in the market and in what way it can benefit the target market forthe long term. Through Zara's business model, aim to contribute to the sustainable developmentof society and that of the environment with which we interacts.”2

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