Chapter 1 Foundations of Strategic Marketing Management

CHAPTER

1

Foundations of Strategic Marketing Management

The primary purpose of securities industrying is to pull in long-term and mutually bene?cial exchange relationships between an entity and the publics (individuals and organizations) with which it interacts. Though this primordial purpose of marketing is timeless, the manner in which organizations undertake it continues to evolve. No longer do marketing managers function solely to place day-to-day operations; they must make strategic decisions as well. This elevation of marketing perspectives to a strategic position in organizations has resulted in expanded responsibilities for marketing managers. Increasingly, they ?nd themselves involved in charting the direction of the organization and contributing to decisions that will create and back up a competitive advantage and affect long-term organisational performance. The transition of the marketing manager from cosmos only an implementer to being a maker of organization strategy has resulted in (1) the creation of the chief marketing of?cer (CMO) position in many another(prenominal) organizations and (2) the popularity of strategic marketing management as a kind of study and practice. Today, almost onehalf of Fortune 1000 companies have a CMO.



Although responsibilities vary across companies, a common expectation is that a CMO will assume a leadership role in de?ning the mission of the business; analyzing environmental, competitive, and business situations; developing business objectives and goals; and de?ning customer value propositions and the marketing strategies that deliver on these propositions. The skill ascertain required of CMOs includes an analytical ability to interpret extensive market and operational information, an intuitive sense of customer and competitor motivations, and creative thinking in framing strategic marketing initiatives in weightlessness of implementation considerations and ?nancial targets and results.1 Strategic marketing management consists of ?ve complex and interrelated...If you take to get a full essay, order it on our website: Ordercustompaper.com



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