21st Century Challenges of Strategic Marketing Management

21st Centur y Challenges of
Strate gic Mar keting

Mana gement
TOPICS COVERED:
• Strategic Marketing Management Quotes
• What Is Marketing
• Strategic marketing
• The Goal of Strategic Marketing
Management
• The Strategic Marketing Management Model
• The challenges
• SWOT Analysis
• The solution towards the challenges
Strategic Marketing
Management Quotes
• "There is but one certainty regarding the times
ahead, the times in which managers must work
and perform. This certainty is that they will be
turbulent times. In turbulent times, the first task of
management is to make sure of the firm's capacity
for survival; to make sure of its structural strength
and soundness; and to make sure of its capacity
to survive a blow, to adapt itself to sudden
change, and to avail itself to sudden change and
new opportunities." [Drucker, 1974]
Strategic Marketing
Management Quotes
• "Truly strategic managers have the ability to
capture essential messages that are constantly
being delivered by the extremely important, yet
largely uncontrollable external forces in the
market and using this information as the basis for
altering the important controllable internal factors
of the business to strategically and effectively
position the firm for future success." [Kepner,
1995-2001]
What Is Marketing?
1. the identification of customer wants and needs, as
the customer or end-user of your product or service
is perhaps the most important actor in the marketing
drama,
2. one must add value that satisfies wants and needs
to one's product or service or the customer will not
remain a customer for long, and
3. firms must make a profit to be sustainable in the
long-run.
Strategic marketing
• The strategic marketing attempts to determine

how an organization competes against its
competitors in a market place. In particular, it aims
at generating a competitive advantage relative to
its competitors.
The Goal of Strategic
Marketing Management
• To select reality-based desired
accomplishments (e.g., goals and
objectives).
• To more effectively develop or alter
business strategies.
• To set priorities for operational change.
• To improve a firm's performance.
The Strategic Marketing
Management Model
The challenges
The challenges:
 The Changing Consumer
 New products and services are coming to market
more quickly than in the past
 Competition is now global rather than just
domestic
 Competition is intense, well established and
entrenched
 The Internet and e-commerce is having a
significant impact on business practices
The Changing Consumer
• Overriding desire for quality.
• Bargain hunting by the affluent. Just because the affluent
have money does not mean that they are not bargain
hunters.
• The buying guideline is selectivity.
• Traditional brand loyalty is fading.
• The middle line is dropping out.
• Consumers want it now! Convenience and immediate
gratification
• Home entertainment is in style.
• It's back to the way we were. simplicity and value
• Staying alive. (health conscious consumers)
The Changing Consumer..contd
• Customization
• S.O.S., or Save Our Society. S.O.S. refers to consumers
who make purchasing decisions based, in part, on social
concerns or causes they support.
• Customers are increasingly demanding better quality and
reliability in the products and services they buy
• Customers are not only more willing to complain about
poor service - they are increasingly confident about
using hi-tech systems
• Customer wants, needs and expectations are changing
more rapidly.
• All customers want essentially the same thing.
New products and services
are coming to market more
quickly than in the past
• Proactive approach
• innovation and responsiveness
Competition is now global
rather than just domestic
• globalization
• harder for survival and sustainability
• limited financial and management
capabilities.
Competition is intense
The Internet and e-commerce
is having a significant impact
on business practices
 the opportunity to change its relationships with the
organizations and individuals
• E-commerce
• E-tailing or "virtual storefronts" &"virtual mall"
• The gathering and use of demographic data through Web
contacts
• Electronic Data Interchange (EDI), the business-to-business
exchange of data
• e-mail and fax and their use as media for reaching prospects
and established customers
• Business-to-business buying and selling
• The result: operation efficiencies and reduced costs
SWOT Analysis
The solution towards the
challenges
challenges
•Employee training
should be seen as an
investment rather than
as a cost
•the ability of an
organization to learn is a
key competitive
advantage
•Understand customer
needs and requirements
well
•market research must
focus on understanding
customer needs and
requirements
Look for developing trends
challenges
challenges
challenges
Thank you!!!

21st Century Challenges of Strategic Marketing Management

Uploaded by

Copyright:

Available Formats

21st Century Challenges of Strategic Marketing Management

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

21st Century Challenges of Strategic Marketing Management

Uploaded by

Copyright:

Available Formats

21st Centur y Challenges of

Strate gic Mar keting

• The strategic marketing attempts to determine

You might also like