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In order for an organization's marketing effort to be successful, it needs to be based on a strategic marketing plan to help ensure that the goals and objectives of the effort are appropriate to the needs of the marketplace. Strategic marketing (a subfunction of marketing) examines the marketplace to determine the needs of potential customers, the strategy and market position of the competitors, and attempts to develop a strategy that will enable the organization to gain or maintain a competitive advantage in the marketplace. There are a number of factors that should impact the development of a strategic marketing plan. These include internal factors such as the assets and skills of the organization and the organizational culture as well as external factors such as various market drivers, market or industry lifestyle, strategic windows, and the nature of the competition. An optimal strategic marketing plan will also follow a contingency approach that allows flexibility in meeting the unique set of factors that govern the marketplace and the organization's viability within. |
