Strategic Marketing

Course：Strategic Marketing

    According to the chapter 1 of the strategic marketing, I have renew my knowledge of the marketing management which was only market research, analyzing consumer behavior, price setting and brand development. It is the market and customers that form the market should be the starting point in business strategy. It is the key factor of current company development.
    Strategic marketing is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy should be centered on the key concept that customer satisfaction is the main goal.
    A marketing strategy is most effective when it is an integral component of corporate strategy, defining how the organization will successfully engage customers, prospects, and competitors in the market arena, Such as corporate strategies, corporate missions, and corporate goals. As the customer constitutes the source of a company's revenue, marketing strategy is closely linked with sales. A key component of marketing strategy is often to keep marketing in line with a company's overarching mission statement.
    Types of strategies
    Marketing strategies may differ depending on the unique situation of the individual business. However there are a number of ways of categorizing some generic strategies. A brief description of the most common categorizing schemes is presented below:
    Strategies based on market dominance - In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are three types of market dominance strategies:
    Leader
    Challenger
    Follower
    Strategy on the dimensions is the strategic scope and strategic strength. Strategic scope refers to the market penetration while strategic strength refers to the firm’s sustainable competitive advantage.
    Product differentiation
    Market...