Strategic Marketing Management
Task 1
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
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
References: Tutor2U, 2012, “Marketing Objectives: Introduction to marketing objectives” [Online] Available at: http://www.tutor2u.net/business/marketing/planning_setting_objectives.asp [Accessed on 21/11/2012]