What is Swot Analysis?
Strategic marketing is one of the most important aspects of business that determines whether a company will remain competitive and reach its financial goals. While marketing is the best way to advertise a product, the effectiveness of a marketing campaign largely depends on how well thought out and executed it is. Strategic marketing strategy is basically a strategic method that helps an organization to focus its limited resources for the most productive means to increase sales and reach a sustainable competitive edge. A good strategic marketing plan makes use of both traditional and internet marketing techniques.
There are four main methods of implementing strategic marketing: Planning, positioning, leveraging and execution. In planning, a company can draw up a marketing strategy by analysing current market trends, assessing competitors and their strengths and weaknesses, and coming up with a unique selling proposition. Positioning is concerned about positioning a product or service in the market or in a particular niche. It involves coming up with a distinctive selling point (USP) for the organisation that is capable of distinguishing it from all other similar organisations. Leveraging is all about using other companies as a resource by utilising their strengths and leveraging the companies’ weakness and using them to your advantage to achieve superior results.
A good strategic marketing plan also takes into account the role of customers in the overall success of the organisation. The customers should be considered in the whole promotion process. They should be analysed to understand their needs, motivations, choices, tastes and behaviour, so that you can design a product or service that best meets their needs. The last two are important aspects of the swot analysis, which seek to provide information about any potential threats or vulnerabilities in the organisation and the ability of the organisation to cope with them. With all these factors considered in a strategic marketing plan, you can be rest assured that you are on the right track.