Strategic Marketing Management : Why to study?

Abstract

Thought process continues on what is meant by Strategic Marketing Management; why we taught Strategic Marketing Management in Business School; how it differs with Strategic Management, a core subject in various institutes? That’s motivated me to write a research paper on Strategic Marketing Management. The challenges of providing superior value to customers have become critical to many companies around the globe in their effort to achieve high level of performance. Delivering value requires understanding markets, buyers, competitors and deciding how to match the organizational distinct capabilities with promising value opportunities. Understandings markets and how they will change in the future is essential in guiding business and marketing strategies. Failure of Kingfishers Airlines and Subhiksha Store, thinking of replication of Amul model in Maharastra, failure of Private University in Chhattisgarh in 2005, subsidized LPG to Market LPG, war between Dettol Utensil care and VIM bar, success of online buying concepts in India, closure of Big Bazar store in Bangalore and other metros created the need to understand Strategic Marketing Management. Strategic Marketing Management is all about helping organisation to a unique identity in the market grows its businesses geographically and serve the customers better than competitors. This research paper will give the coverage of scope and contents of strategic marketing management and its importance for marketing students in MBA/PGDM.