Strategic Marketing Process Paper

Strategic Marketing Process Paper

Leading as a general manager

LDR-620

July 16, 2014

Strategic Marketing Process Paper

Before a company can ascertain the wants of its prospective clients, it must take a look at their resources and proficiencies, which might comprise backing, time and human resources. Outside that, the company should contemplate the kind of rivalry that might be found in the current marketplace, and how technical, political, societal and economical activities could influence what clients want and the company’s capacity to provide it. After a clear perception of the environment, one can scrutinize the unsatisfied wishes and needs amongst clienteles (Brookins, 2014). Once the analysis phase is over it will be important to plan, implement and control the strategies to meet the clientele’s needs by putting the products in the right place, at the right price, at the right time (Mind Tools, n.d.).

Planning

The planning phase is the most vital phase in a company's strategic planning process. Often a strengths, weaknesses, threats and opportunities (SWOT) analysis is done to determine the organization situation in relation to the market. This examination is vital to entirely comprehend the internal and external aspects that are promising or uncomplimentary to the company's actions (Viskovich, 2007). The object is to minimize risks while maximizing opportunities as well as revealing new product and market prospects (Viskovich, 2007). From this planning a company can determine its marketing mix or plan by setting realistic and attainable goals and objectives.

It will be important to determine the segment of consumers who will potentially purchase the products. This can be ascertained by employing a market product analysis which should create results with respect to the appeal of the prospective merchandise and the marketplace in which it would be sold (Viskovich, 2007). This will assist with determining the marketing process. This is where strategies for product, price, place and promotion fit in. The next step would be to form an implementation strategy.

Implementation

The implementation process comprises insertion of the product or service that the company has developed on the market for use, utilizing the dispersal strategy created to target audience the company is trying to reach. Using the advertising proposal that was developed can aid in informing, persuading and reminding consumers that the company’s product(s) or service(s) exists (Viskovich, 2007). Through segmentation a company can identify consumers and their needs. Many companies have customers with varied tastes, preferences and needs. This means that marketing must caterer to more than one consumer’s needs. By creating sub markets or market segments, a marketing mix can be created to suit the needs of each segment which will create satisfied customers (Moad16, 2013, para. 2). Once segmentation is accomplished, a company can deliver merchandises and services that will satiate consumers within each exclusive segment. One particular segment that could be developed would be a loyalty segment. This refers to a group of consumers that are loyal to a particular product or service such as iPhones or Hewlett-Packard. This means that the customer will only by from this manufacture, thus a loyalty segment has been developed ("Loyalty," 2014). Once the product or service is on the market the company will need to measure the success or lack thereof, which leads to the control phase.