Foundations of Strategic Marketing Management

To create long-term and mutually beneficial exchange relationships between an entity and the publics.

From solely directing day-to-day operations to making strategic decisions as well.

Chief Marketing Officer (CMO)

<p>Due to the need for marketing managers to contribute to decisions that create and sustain competitive advantage.</p> Signup and view all the answers

<p>A business definition outlines the scope of a particular organization's operations.</p> Signup and view all the answers

<p>In many instances, a single organization may operate several businesses.</p> Signup and view all the answers

<p>An organization should define a business by the type of customers it wishes to serve, their needs, and the means to satisfy these needs.</p> Signup and view all the answers

<p>Its mission is a written statement of organizational purpose.</p> Signup and view all the answers

<ol> <li>Defining the organization's business, mission, and goals, 2. Identifying and framing organizational growth opportunities, 3. Formulating product-market strategies, 4. Budgeting marketing, financial, and production resources, 5. Developing reformulation and recovery strategies</li> </ol> Signup and view all the answers

<p>Analytical ability, intuitive sense of customer and competitor motivations, and creativity in framing strategic marketing initiatives</p> Signup and view all the answers

<p>Defining the mission of the business, analyzing environmental, competitive, and business situations, developing business objectives and goals, and defining customer value propositions</p> Signup and view all the answers

<p>Because these processes are interconnected and depend on each other for successful marketing management</p> Signup and view all the answers