What is Strategic Marketing?

What is Strategic Marketing?

By Jo Macdermott

Strategic marketing is one of those marketing terms that seems to get used a lot in conversation and marketing madeiras. However, my guess is that the term itself is not as widely understood as it is quoted. The key question really is what is strategic marketing and how is it relevant to everyday businesses? To unlock some of the mysteries around this term, let's start with a definition.

[caption id="attachment_987" align="aligncenter" width="719"] What is Strategic Marketing?[/caption]

A definition you say? Sounds easy, right? Generally a quick check of Wikipedia solves that, but on this occasion it seems to be where the problem starts. There is no definition of strategic marketing in Wikipedia. So I turn to the Oxford dictionary and have better luck. Oxford describes the term as the action or business of promoting and selling products or services, including market research and advertising. This, for me, is really the definition of marketing, not strategic marketing.

Based on the Oxford definition, there may be a case to argue that all marketing is in fact strategic. However, in my opinion, that is not the case. There is a big difference between strategic marketing (thinking) and tactical marketing (doing). Here are some examples to demonstrate.

This is strategic marketing.

Strategic marketing is a thinking process rather than a series of tactical doing activities. The thinking comes first and the actions (tactics) result from that. the strategic marketing thinking process poses questions such as:

1. What problems do my customers have?

2. How can our product/service lead to improvements in our customers' lives?

3. What are the core customer motivations that lead to sales?

4. What other things are happening in our customers' lives that may affect our sales?

5. What will the customers be expecting from the market and us next?

The answers to these questions form the strategy around your marketing activity, or better still, can be described as the strategic marketing process. These steps help to define your target market, what products and services are going to deliver sales (profit) and how to position your marketing communication materials. The tactics came now. Heaven!

Is it really that important?

Now that we know what strategic marketing is, the key question is does strategic marketing matter and is it important? The short answer is yes.

The fact is that all the best marketing is done with the customer in mind and thinking before acting is a proven way to get better results.

Is it always relevant?

In my experience, very new businesses may in fact benefit from a more tactical plan at first to put their feet in the water and get a feel for how consumers respond to their product. Creating a long-term strategic plan could wind up being a waste of time on their part at the very start. Later down the track though, when the business has a better idea of how things work, a strategic plan is then required.

In summary, strategic marketing:

1. Comes first; that is, before the tactics;

2. Focuses on big picture customer needs; and

3. Attempts to marry customer needs with the overall company direction.

Jo Macdermott is the Chief Marketing Consultant at Next Marketing, the marketing agency Melbourne residents turn to when seeking a professional marketing solution. Her team can help you devise a marketing strategy, implement a social media plan, and her highly talented graphic designers work alongside her marketing pros to build a solid marketing plan that will help you attract more customers, expand your business, and build momentum for many months to come. You can find her on almost every social media platform out there including Google+ as well as sharing fantastic tips and insider info on Next Marketing's blog.

Article Source: http://EzineArticles.com/?expert=Jo_Macdermott

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What is Corporate Social Responsibility (CSR)?

What is Corporate social responsibility (CSR)?

Author:Sandra

Corporate Social Responsibility (CSR) has become an important aspect of businesses all across the globe. As globalization spreads its reach and businesses serve as global provider, these businesses have recognized the significance and benefits of CSR and have started incorporating it in their practices.

[caption id="attachment_938" align="aligncenter" width="450"] What is Corporate Social Responsibility (CSR)?[/caption]

What is Corporate Social Responsibility ?

Corporate Social Responsibility is a form of corporate self regulation amalgamated in a business infrastructure model. The CSR policy of any business works as a self regulating system which helps the business to ensure that it complies the global norms and ethical standards. The aim of CSR is to be accountable for the company's activities and promote an optimistic and constructive ideology through its actions on environment, communities, consumers and stakeholders.

Why is it important?

CSR helps a business to run in such a way that it leaves a positive impact on the environment and society. In other words, CSR implies a commitment by a business to integrate such responsible policies in its practices that benefit the society also and reporting the progress made towards executing these practices. Countries like India also are becoming aware of this phenomenon and Corporate social responsibility in India is also witnessing a boom. Some of the main advantages of CSR can be explained as follows:

Stakeholders' interest

Outside stakeholders have been taking a keen interest in the the social aspect of the company and its accomplishments on the social level. The way your business treats the workforce and the impact of the products and services on the society is a matter of interest for the stakeholders.

Sustainability

CSR puts emphasis on economic, social and environmental sustainability so that your business continues to meet the needs of the present without affecting the resources for future generations. Sustaining economic  prosperity with taking care of the employees and environments is one of the driving forces while making the blueprint of any policy.

Social accountability

Accountability makes a business reliable. Communication of environmental and social impacts of your business activities on the society at large can be referred as social accountability. Usually the public relations department of a business look after it. Sometimes businesses take the help of PR agencies to manage their public relations as it's a very important element of CSR.

Risk management

The reputation which you had built over an entire decade can be brought to ruins within seconds by any malpractices like environmental accidents, corruption scandals etc. within your business. They will tarnish your image in split seconds. The philosophy of ‘doing the right thing' within the work culture can be successfully incorporated by implementing CSR.

Customer loyalty

The ‘jam packed' market today demands individuality if you want your business to stand out amongst your competitors. Building customer loyalty based on unique ethical principles can definitely be achieved using CSR implemented policies. In countries like India where there is a neck to neck battle in the market, businesses are using Corporate social responsibility in India to its best to become the leader in their domain.

Human resources

Last but not the least, CSR policies can help your business when you recruit human resources. You can ask the candidate about the company's CSR policy. The perception of your business is bound to improve when the staffs are involved with payroll giving, fund-raising activities etc. this will only happen when your business implements CSR policies.

[caption id="attachment_939" align="aligncenter" width="500"] What is Corporate social responsibility (CSR)?[/caption]

CSR policy can certainly help your business reach new heights in times to come because with limited resources to use, sustainability is the the mantra to win in the long run. And CSR gives your business that outlook that can help you bloom with the perfect balance of economic profit and social responsibilities.

Article Source: http://www.articlesbase.com/public-relations-articles/what-is-corporate-social-responsibility-csr-6198517.html

About the Author

Sandra is a PR consultant and she also likes writing, reading, movies, hiking.