What Does Strategic Marketing Entail?

Strategic marketing is a crucial concept in modern business, involving the process and methods to gain competitive advantage in the market. Whether in domestic or international markets, strategic marketing is key to achieving success for businesses. So, what does strategic marketing entail and how is it expressed in English? Let's explore together.

To understand the core of strategic marketing, we first need to clarify what strategy means. Strategy refers to the long-term goals and methods of an enterprise, including positioning, market selection, resource allocation, and more. Marketing, on the other hand, involves the process of pushing products or services into the market and generating profits through means such as market research, product pricing, and sales channels.

Therefore, the core of strategic marketing lies in integrating an organization's strategy with marketing, and realizing strategic goals through a market-oriented approach. Specifically, the core of strategic marketing includes the following aspects:

• Market positioning: The core of strategic marketing is to define a company's position in the market and the direction of differentiation. Through market research and competitive analysis, a company needs to identify its target market and determine how to differentiate from competitors.
• Target market selection: A company needs to identify its target market and find suitable market segments within it. The selection of the target market should be based on the company's resources, competitive advantages, and aligned with its strategic goals.
• Product and pricing strategy: In strategic marketing, a company needs to determine its products or services and design corresponding pricing strategies. Product design should meet the needs of the target market, while pricing strategies need to consider market competition and consumer psychology, among other factors.
• Sales channel selection: A company needs to choose the appropriate sales channels to distribute its products to the target market. The selection of sales channels should consider factors such as coverage, cost-effectiveness, and alignment with the target market.
• Market promotion: A company needs to promote its products or services through various marketing techniques, attracting the attention and purchases of potential customers. Market promotion can include advertising, public relations activities, promotions, etc., and the choice of promotion methods should be based on the characteristics of the target market.
• Customer relationship management: In strategic marketing, building good customer relationships is essential to maintain customer loyalty and increase customer value. Customer relationship management includes customer service, complaint handling, after-sales support, and can be realized through building customer databases and using customer relationship management software.

These core components are interconnected and mutually influential. Companies need to consider them comprehensively and formulate strategic marketing plans accordingly.