Oxford Dictionary defines marketing as ‘the process of a business promoting and selling its products and/or services which also includes market research and advertisement’ (Oxford Dictionaries, 2012). The definition is pretty straight forward. From the definition itself, it can be drawn that marketing is an essential part of an organization. Modern businesses have understood it, thus marketing has become one of the biggest and indispensible part of modern business organizations. Thus marketing has evolved a long way from being a “soft” skill to more structured and complex approach. Thorough market, customer and media research is done before selling a product. An integrated campaign is set up and structured strategies are set up so as to take marketing to a new level. This in short defines Strategic Marketing. Therefore identifying a company or firm’s sustainable competitive advantages and allocating right amount of resources to exploit them is called Strategic Management. This report will use the pioneers and market leaders of innovative products, “Apple” and analyze its strategic marketing processes. Starting as computer manufacturers in 1976, Apple has established itself in the topmost level of electronics and gadget field. Expanding from conventional computers, Apple is known for their innovative products in computer field with Mac Books, in the music field with their iPods and quite recently, the market leaders in the mobile phone industry with their revolutionary series of iPhone. It is now a multinational corporation with a value of over 500 billion dollars in the market place making it one of the most successful companies of all time (Apple History, 2012). The primary objective of strategic marketing (or strategic marketers) is to build business plan concentrating upon the customers, suppliers and the channel itself. The business plan is to be set up in a way as to how the marketers will approach the marketing techniques for their products and/or services in an appropriate way that can create maximum impact upon the (targeted) customers. Strategic marketing also allows the company to discover new channels, products and services while differentiating their company in the market. Therefore, it is safe to assume that strategic marketing is one of the key elements which is able to hand a particular company competitive advantage over its rivals in a market place (Mainstream Marketing, 2012). Strategic Marketing thus helps an organization to choose the right output of products that need to be produced so as to satisfy the current market place requires or needs. It enables the company to put the consumer’s needs first therefore going for total customer satisfaction. Strategic marketing thus plays headfirst role in retaining customers which is the key for success for any organization. For a company like Apple, they used their innovative and unique products as the key to market their products. Strategic management is thus a planning process which seeks to create a clear direction and combined efforts for marketing. There are five major steps involved in strategic marketing which can be listed as follows: 1. Mission: The primary step involved in strategic marketing is to understand the existence of the company as to what are the primary objectives of the organization and how it could benefits its customers in a sustainable time period. It is essential to therefore understand and establish a realistic and clear objective which can be followed in the coming years. The mission statement is therefore a short concise statement that intends to anticipate the company’s future while describing its current products and/or services that are being made public. 2. Situation Analysis: Organizations often implement internal situation analysis more commonly known as SWOT analysis which enables companies to prioritize its strengths and opportunities while evaluate and eliminate the weaknesses and threats surrounding the...
Please join StudyMode to read the full document