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WHAT IS MEANT BY STRATEGIC MARKETING PLANNING?

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udayanga | College Teacher | (Level 1) Salutatorian

Posted October 11, 2012 at 5:24 PM via web

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WHAT IS MEANT BY STRATEGIC MARKETING PLANNING?

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dineshacc | College Teacher | (Level 1) eNoter

Posted October 11, 2012 at 6:27 PM (Answer #1)

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        the process of managerial and operational activities required to create and sustain effective and efficient marketing strategies,...

Developing the Strategic Marketing Plan
The strategic marketing plan process typically has three stages:

1.Segment the market 
   Geographic 
   Demographic 
   Psycho-graphic 
   Behavior
2.Profile the market segments
Revenue potential
Market share potential
Profitability potential


3.Develop a market segment marketing strategy
Market leader or product line extension
Mass marketing or targeted marketing
Direct or indirect sales


After analyzing market segments, customer interests, and the purchase process, it's time to create the strategic marketing plan. The strategic marketing plan document usually includes:

Situational Analysis - Where is the company now?
Market Characteristics
Key Success Factors
Competition and Product Comparisons
Technology Considerations
Legal Environment
Social Environment
Problems and Opportunities
Marketing Objectives - Where does management want the company to go?
Product Profile
Target Market
Target Volume in Dollars and/or Units
Marketing Strategies - What should the company do to achieve its objectives?


Product Strategy
Pricing Strategy
Promotion Strategy
Distribution Strategy
Marketing Strategy Projection

How to Use a Strategic Marketing Plan


Once a company's executive team has approved the strategic marketing plan it's time to take the next step -- create the tactical marketing programs and projects needed to implement the plan.

These tactical programs usually include:

   Product Development Plan 
   Marketing Communications Plan 
   Sales Development Plan 
   Customer Service Plan 
   Benefiting from a Strategic Marketing Plan 


The top-down process of developing a strategic marketing plan helps insure that all tactical marketing programs support the company's goals and objectives, as well as convey a consistent message to customers.

This approach improves company efficiency in all areas, which helps improve revenue and market share growth, and minimizes expenses -- all of which lead to higher profitability.

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jesseldridge | (Level 1) Salutatorian

Posted October 18, 2012 at 5:06 AM (Answer #2)

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In simple words, Strategic Marketing Planning is the process of making and implementing an effective and strong marketing strategies which is followed by operational and managerial staff of a company. Strategic marketing planning includes some phases of promotional and marketing activities. It also identifies the promotional and marketing opportunities. Visit the resource to check out the benefits and consideration of strategic marketing planning.

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