Marketing managers must focus on three major drivers of change — digital, global networks and broad data — and adjust their marketing strategies to remain competitive. Strategic Marketing Management integrates the changing roles of the consumer networks, digital technologies and analysis of emerging data into the fabric of management and the entire enterprise.  The interaction of the three drivers of change determine their goals, strategy and Key Performance Indicators (KPIs. Organizations should consider the strategic factors of outsourcing project management to answer the question: should we hire a new project manager or should we outsource to an external expert? In the present competitive business environment, organizations that develop and implement effective marketing strategies can create more value for their customers. Strategic marketing management is all about helping the organization develop a unique identity in the market, grow its businesses geographically and serve the customers better than the competitors. One of the important objectives of the organization is to strategically respond to the opportunities and threats in the business environment, which can be successfully achieved with the help of strategic marketing management.
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Strategic Marketing Management (7th edition) offers a comprehensive framework for strategic planning and outlines a structured approach to identifying, understanding, and solving marketing problems. Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis is the most commonly used tool in organizations. Develop an Integrated Digital Marketing Strategy: Integrated Marketing Communications (IMC) refers to integrating core marketing concepts with traditional, online and social media to effectively connect with target markets. Understand Consumer Empowerment:  Managers need to leverage the new power of consumers by gathering research data, gaining input on brand, pricing and distribution, and prioritizing customer service. Build a Powerful, Responsive Brand:  Brands need to respond to consumers and generate value to their social communities.
Monitor the Digital Footprint: Listening to feedback and using social tools to monitor company “chatter” and social performance are the basis for responsive strategies. Evaluate the Digital ROI: Digital ROI helps brands analyze the performance of different marketing tools in achieving company goals. Design a Strategic Marketing Plan:  Management needs to design a comprehensive strategy that imposes order on the chaos and addresses changes in the marketplace.


Demonstrate the Value of the Social Enterprise: Executive teams need to integrate the transforming power of digital marketing to generate innovation and collaboration throughout the organization (IT, marketing, human relations, operations, finance, customer service) to insure market position and growth. An effective marketing strategy provides direction, improves the brand image, helps in developing the right goals and enhances the overall performance of an organization. Strategic marketing is a continuous process of developing marketing strategies taking into consideration the constantly evolving trends in the business environment and by giving utmost importance to customer satisfaction.
For business students, the theory advanced in this book is an essential tool for understanding the logic and the key aspects of the marketing process. The marketing performance of an organization is gauged in terms of its market share, profitability, and growth of sales. A marketing audit has six components: the marketing environment audit, marketing strategy audit, marketing organization audit, marketing systems audit, marketing productivity audit, and marketing function audit. While Strengths and Weaknesses pertain to the internal environment, Opportunities and Threats pertain to the external environment. Rather, it is an all-encompassing paradigm shift, and as such, demands a fundamental shift in thinking. Integrated Digital Marketing builds on IMC by weaving the drivers of change (digital, global and broad data) into a more comprehensive and responsive strategy.
With the explosion of the Internet, social and mobile, consumers are working into their roles as product reviewers, sources of trusted information, product advocates and brand champions. Managers need to expand their thinking to encompass Broad Data or the collecting and leveraging of appropriate levels of data related to the company’s size and goals.
Alerts, analytics and social mentions provide executive teams with real-time insights into their organization’s digital footprint and guide timely adjustments. The plan must continuously gather and incorporate target audience data to build the digital brand presence, integrate traditional and digital tactics, and achieve key performance indicators. But cost is only one small part of the equation, as there is a whole bunch of strategic and operational factors that need to be evaluated as well.
For developing effective marketing strategies, the organization has to first decide the customer segments it wants to serve, the customer needs it wants to fulfill and establish the price that the customers are willing to pay for its products and services.


It helps the organization to achieve competitive advantage and sustain it over a longer period of time.
For managers and consultants, this book presents a conceptual framework that will help develop an overarching strategy for day-to-day decisions involving product and service design, branding, pricing, promotions, and distribution. The audit for recording, analyzing, and measuring the performance of the company's marketing activities is called marketing audit. The marketing effectiveness depends on the customer philosophy, marketing orientation, marketing information, strategic orientation, and operational efficiency. After SWOT analysis, the strategy has to be formulated based on the insights from the analysis. The “digital mindset” is grounded in a foundation of openness, flexibility, collaboration and shared network thinking.
Yes, large corporations can aggregate and analyze social messages and weave the results into a new digital strategy.  But small and mid-size companies and nonprofits have different levels of access to data and the resources to analyze it.
It considers the impact of digital technologies on brand engagement, customer relationships and advocacy in addition to traditional action metrics of sales and marketing exposure. For senior executives, the book provides a big-picture approach for developing new marketing campaigns and evaluating the success of ongoing marketing programs. Some of the reasons for the failure of SWOT analysis are lack of proper focus during the analysis and lack of in-depth information. Executive teams need to adopt a digital mindset as a core value and integrate this mindset into how they communicate and service their employees, consumers and greater community.
There are significant sources of “low hanging data” that can be plucked and readily integrated in marketing strategies.
In the long run, most organizations would be better off to build their internal project management competencies.However, for a complete view on this matter we need to take into account the operational factors as well.



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