This essay examines the principles and requirements of succesfull strategic marketing on a broader level. Within this context, special emphasis is put on understanding customer behaviour and developing an implementable strategic marketing plan.
In order to so, five strategic key targets are singled out and explained thereotically. In a second step, follwing this explanation, an exemplary marketing plan for Tesco PLC is created, based on the criteria established earlier.
Table of Contents
- TASK 1 – UNDERSTAND THE PRINCIPLES OF STRATEGIC MARKETING
- Analyse the Relationship Between Corporate Strategy and Marketing Strategy
- Analyse the Development of Marketing Strategies
- Explain, Using Examples, How Different Marketing Strategies Contribute To Competitive Advantage
- Relationship between strategic intent, strategic assessment, strategic choice and their impact on the formulation of marketing strategy
- TASK 2- UNDERSTAND HOW TO CARRY OUT STRATEGIC ENVIRONMENTAL ANALYSIS
- Evaluate Different Approaches to Conducting an Internal Environmental Analysis
- Evaluate Different Approaches to Conducting an External Environmental Analysis
- Assess the Integration of Internal and External Analyses
- TASK 3-UNDERSTAND THE ROLE OF CUSTOMER BEHAVIOUR IN MARKETING STRATEGIES
- Analyse the Role of Marketing Research Process and Its Relationship to Consumer Behaviour
- Evaluate the Role of Relationship Marketing In Customer Behaviour Analysis
- TASK 4- UNDERSTAND HOW TO DEVELOP AN IMPLEMENTABLE STRATEGIC MARKETING PLAN
- Analyse the Factors to Be Taken Into Account in the Development of a Marketing Plan
- MARKETING PLAN FOR TESCO PLC.
- Executive Summary
- Vision
- Strategy
- Corporate Objective
- Target Market
- Market Division and Segmentation
- Unique Selling Proposition
- Marketing Objectives
- Pricing Strategy
- Needs and Requirements
- Distribution Strategy
- Customer Communications
- Promotional Strategy
- Financial Projections
- Design Monitoring Systems That Are Capable of Identifying Performance Deviations from the Plan's Original Objectives
- Anticipate the Need for Contingency Plans
- TASK 5- UNDERSTAND HOW TO CREATE A MARKETING STRATEGY TO MEET BUSINESS OBJECTIVES
- Evaluate the Requirements of a Marketing Strategy
- Explain the Relationship between a Marketing Strategy and a Corporate Strategy
- Explain How the Marketing Strategy Should Address Competitive Forces and Their Likely Impact
- Design a Dissemination Process to Ensure Internal Stakeholders Are Informed and Committed To the Marketing Strategy
Objectives and Key Themes
This document explores the principles of strategic marketing, focusing on the relationship between corporate strategy and marketing strategy. It examines how different marketing strategies can contribute to competitive advantage, and delves into the importance of conducting thorough environmental analyses, both internal and external. The document also emphasizes the role of customer behaviour in shaping effective marketing strategies and outlines the key factors to consider when developing a comprehensive and implementable strategic marketing plan. Here are some key themes explored in the text:- Relationship between corporate and marketing strategy
- Competitive advantage through marketing strategy
- Importance of environmental analysis in marketing strategy
- Role of customer behaviour in marketing strategy
- Developing and implementing a strategic marketing plan
Chapter Summaries
- **TASK 1 – UNDERSTAND THE PRINCIPLES OF STRATEGIC MARKETING**
- **Analyse the Relationship Between Corporate Strategy and Marketing Strategy:** This chapter explains the connection between corporate and marketing strategies. While corporate strategy focuses on high-level goals for long-term growth, marketing strategy addresses specific actions to achieve those goals, like product development or targeting specific customers.
- **Analyse the Development of Marketing Strategies:** This section delves into the process of formulating and implementing marketing strategies, highlighting the role of SWOT analysis and the significance of understanding the business environment in shaping effective strategies.
- **Explain, Using Examples, How Different Marketing Strategies Contribute To Competitive Advantage:** This section examines how various marketing strategies can help businesses gain a competitive advantage. It discusses how strategies can be tailored to attract customers, build brand recognition, and differentiate products or services.
- **Relationship between strategic intent, strategic assessment, strategic choice and their impact on the formulation of marketing strategy:** This section explores how strategic intent (what the organization wants to achieve), strategic assessment (evaluating strengths, weaknesses, opportunities, and threats), and strategic choice (making decisions based on assessment) all come together to shape the final marketing strategy.
- **TASK 2- UNDERSTAND HOW TO CARRY OUT STRATEGIC ENVIRONMENTAL ANALYSIS:**
- **Evaluate Different Approaches to Conducting an Internal Environmental Analysis:** This section provides guidance on how to assess the internal environment of a business, considering factors like resources, capabilities, and organizational structure.
- **Evaluate Different Approaches to Conducting an External Environmental Analysis:** This section outlines methods for analyzing the external environment, exploring factors like market trends, competitors, and technological advancements.
- **Assess the Integration of Internal and External Analyses:** This chapter highlights the importance of combining both internal and external environmental analyses to create a holistic picture that informs strategic decisions.
- **TASK 3-UNDERSTAND THE ROLE OF CUSTOMER BEHAVIOUR IN MARKETING STRATEGIES:**
- **Analyse the Role of Marketing Research Process and Its Relationship to Consumer Behaviour:** This section explores the link between marketing research and understanding consumer behaviour. It emphasizes the importance of gathering data about customer preferences, needs, and buying habits.
- **Evaluate the Role of Relationship Marketing In Customer Behaviour Analysis:** This section examines how relationship marketing strategies can be used to analyze customer behaviour. It explores how building strong relationships with customers can lead to loyalty, repeat purchases, and positive word-of-mouth.
- **TASK 4- UNDERSTAND HOW TO DEVELOP AN IMPLEMENTABLE STRATEGIC MARKETING PLAN:**
- **Analyse the Factors to Be Taken Into Account in the Development of a Marketing Plan:** This chapter examines the key elements to consider when creating a marketing plan, including defining target markets, setting objectives, establishing a budget, and developing a marketing mix strategy.
Keywords
The document focuses on strategic marketing, exploring concepts such as corporate strategy, marketing strategy, competitive advantage, environmental analysis, customer behaviour, and strategic marketing planning. It highlights key terms like SWOT analysis, marketing mix, relationship marketing, and market segmentation.
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- Anonym (Author), 2019, Understanding and Planning Strategic Marketing. The Example of Tesco Plc., Munich, GRIN Verlag, https://www.grin.com/document/498857
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