STRATEGIC MARKETING Essay Example | Topics and Well Written Essays - 1500 words

STRATEGIC MARKETING - Essay Examplehowever, it seems that the go withs competitors have an upper hand in the market share chiefly due to the fact that they have strong trade strategies. To be at par with, or change surface at a better position than their competitors, the company deficiencys to reevaluate their merchandising strategy. Making affair of strategic merchandise practices such as strategic thinking will enable the organization to expose out what their customers expect form them. strategical Thinking BT has put in place a merchandise plan for its technological products to the mass market. Although the products are doing quite hearty in the market place, there is direction for improvement. Incorporating strategic thinking into the companys marketing strategy will go a capacious way in improving the companys competitive advantage. Strategic thinking can be defined as the process of thinking virtually transformations and how to prepare for them (Parvinen, Tikkanen , 2007). Strategic thinking will emphatically help the company determine and understand the direction of the business and how to create a niche in the competitive marketplace. How can it help my company do a better job of Marketing? Strategic thinking will help the company be aware of industry changes that may affect its standing(a) on the market and hence, its profitability (Alsem, 2006). The concept of strategic thinking in strategic marketing is precise likely to increase the companys profitability. Before placing products in the market, the company demand to know about the market operates. For instance, information regarding the consumers, pricing and competitors is very important in making a proper marketing plan. At BT Tech, the current marketing strategy can be greatly improved through the incorporation of strategic thinking in the whole marketing process. Strategic thinking will help the marketing aggroup in the organization to know and understand the needs and expectat ions of the target market (Alsem, 2006). Successful marketing is not possible without the consideration of how to cook the consumers. Strategic thinking will help the marketing team to not only identify the target market, but also understand their wants, how they reason and even how and where to reach them (West, Ford and Ibrahim, 2010). Knowing the target market well enough is essential if the company wants to reach them to begin with their competitors do. Identifying and selecting a market niche is only the first measurement in marketing. The managers also need to strategically think about the best way of marketing the companys products to its target market (Drummond, Ensor and Ashford, 2008). In this respect, the kind of products the company makes should be well designed to fit the needs and preferences of the market. There is no need of making a perfect strategic marketing plan when the product does not meet the needs of the customers (Parvinen, Tikkanen, 2007). Strategic thi nking will therefore enable the company to produce products that will be well received in the market. In other words, the company will be able to produce and air products which will help it get ahead of the competition. Strategic thinking is also important when formulating promotional detail for a specific product. In any marketing mix, promotion is a very important step as it is used to introduce products and their benefits to the audience (Drummond, Ensor