Selling, Marketing, Strategic Marketing, Maturity of Strategic Marketing

Strategic Marketing Course at IMT Feb 2018 for Div B and C

Feb 12 – 16 :  6 Sessions 7,8,9,10,11,12

Done previous month Jan 2018 (1) Everwrite Pens (2) Sony Cybershot (3) Wallace Fort Hotels.

Now planning in Feb 2018  (4) Elegant Furniture (5) Adani Televisions (6) Blue Weiss Chairs

Let us revisit the whole course of “Strategic Marketing”. Is it just a different and fancy name or is it really different from ordinary marketing? Is the practice different of strategic marketing or only the name is different?

Let us review some basic terms .

Selling is focused on the needs of the seller to make profit hence the focus of selling is on contacting and convincing more customers and convincing them to buy more quantity at a higher price. The key output expected through selling is more revenue and more profit. The sales effort is usually of more and better customer contacts,  better persuasion and salesmanship.

Marketing is focused both on making selling more efficient and effective by focusing on the needs of the seller as well as on the needs of the customers. Marketing aligns what it offers to the customers’ needs and tries to do it better than what the  competition is doing. The key output expected through marketing is more revenue, more customer satisfaction, having a better perception among the customers than of the competitors, and of course making more profit.

Strategic Marketing  is a practice that enables a business to simultaneously achieve attractive returns for both its customers and itself over a long period of time over time in such a way that it is  difficult for others (potential competitors) to imitate. Such businesses can create longer lasting success by being able to create value propositions that satisfy specific markets / needs better than the others and in a lasting way because of their distinct capabilities which are VRIO (Value creating, Rare, Inimitable, Organized to exploit it ). Strategically good marketing companies identify the few things they need to be  good at and then they develop these few complex capabilities until they’re world-class and interlocking. They get good returns because they carefully balance their strengths (what they do incredibly well) against their opportunities (what the market will reward). 

Maturity Model based on the stage they’re at in developing and executing a strategically correct strategy. Although many companies recognize the value of taking a strategic approach it is not easy for them to move from today’s incoherence to tomorrow’s focused strategy.