What is Strategic Marketing? Importance and Examples

Introduction

Strategic marketing encompasses techniques and actions to analyze a market and also detect new opportunities. In marketing, many variables can be studied to obtain information about the market and the consumer. However, not even the best market research can ensure that this information will benefit the company if no defined marketing strategy can interpret consumer needs, perceptions, and desires to transform them into actions that respond concisely to what the market requires today but also what it might need in the future.

In this way, strategic marketing consists of the set of techniques, actions, and steps that, in an organized manner, analyze a target market to detect opportunities, solutions, and even activities in the face of possible crises so that companies can anticipate, solve and achieve best results.

Importance of Strategic Marketing

The sum of data that can be collected from the market is immense; stopping to analyze it without a clear objective will waste time and resources. For this, the marketing area of ​​companies and organizations must work simultaneously with other departments to form a tremendous logistical harmony that makes the business turn possible. Misinvesting intellectual or financial capital in a poorly conceived strategy could negatively affect the entire organization.

Through the correct use of strategic marketing, the team in charge of this area will know how to select the information relevant to the objective or goal on which they are working, thus also achieving the objectives of other areas such as finance.

In addition, the application of strategic marketing brings with it many other benefits such as:

Identify the Real Situation of the Company, Its Competitors, Its Customers, and Potential Customers

A clear vision of the environment that surrounds the company is the best starting point for establishing a long-term course. How will the Ecuadorian market present itself in five years? What are the characteristics of your potential customers? Are you ready? What do you need?

Chart a Course and a Goal

The entire human group that makes up the company will appreciate knowing the basis of each action and alsothe specific objective the programming seeks to achieve. It results in better performance.

Also Read: What is Cloud Computing? – Work, Types, and More

Make a Difference from the Competition

Every day there are more competitors, and standing out is much more difficult. Through strategic marketing, the company can take advantage of the competition’s weaknesses and market opportunities so that the brand can, with creativity and innovation, distinguish itself from competitors by capturing the attention of its target market.

Strategic Marketing Examples

Some of the strategies most used by companies are developed from the product life cycle, such as:

• Product portfolio strategy: in it, both the characteristics of the market and its profitability are considered to determine the points to work on each of the company’s products.
• 4P strategy: it is one of the traditional strategies. It analyzes the product, price, place, and promotion, designating a specific action for each component. Always maintaining a synergy between them.
• Growth strategy: works on the company’s sustainability, concentrating on aspects such as opening new markets, product diversification, and loyalty.

In Ecuador, strategic marketing training is necessary to address the different business goals successfully. One of the main challenges is to humanize brands through communication that ceases to be one-way  company-client  ​​and becomes a two-way channel where information is obtaine from a direct source to develop a brand that responds to market needs.

Conclusion

In this way, strategic marketing consists of the set of techniques, actions, and steps that. In an organized manner, analyze a target market to detect opportunities, solutions. Even activities in the face of possible crises so that companies can anticipate, solve and achieve best results.

Also Read: What is Big Data Technology? – Important, Work, and More