Strategic marketing: analysis, perspectives, and blueprint

Abstract

This chapter provides an overview of strategic marketing, which is a construct that lies at the conceptual heart of the field of marketing and is central to the practice of marketing. It shows how marketing strategy relates to the concept of marketing orientation, before explaining the difference between strategic marketing and operational marketing. The chapter also highlights the link between marketing strategy and corporate strategy and how they are aligned to one another. It reviews earlier models of strategic planning and various approaches to competitive marketing strategy. Ultimately, the essential steps in strategic marketing are: obtain the key information about a marketing problem; concentrate on suitable marketing objectives; identify the relevant options available; select the appropriate course of action; and establish a marketing plan for implementation.