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The Strategic Management of Marketing: An Integrated System - Research Paper Example

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The Strategic Management of Marketing: An Integrated System Table of Contents Introduction 4 Traditional Marketing Tools 7 Digital Marketing Tools 10 Comprehensive Marketing Strategies 16 Integrated Marketing: Combination of Traditional and Internet Marketing 19 Conclusion 20 References 21 Introduction Marketing Marketing is recognized as a management tool which is utilized to classify, predict and gratify customer requirements…
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The Strategic Management of Marketing: An Integrated System
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Download file to see previous pages With due regard to this fact, it also facilitates in augmentation of customer satisfaction and orientation level, which is extremely essential to retain in this era of competitiveness. Consequently, it also facilitates in amplification of the productivity and the profitability of an organization, ensuing augmentation of its market share and value proposition within the minds of the customers. As a result, it also facilitates an organization to enhance its identity and dominance among other competing enterprises in the market. Real Time, Adaptive Marketing Ecosystem In order to cope up with irregular challenges of the environment, it is essential to alter the marketing designs and concepts as well. Therefore, to tackle the situational changes, the approach of marketing ecosystem is adopted by most of the modern day organizations as a technique to promote their products and/or services through digital media. It is regarded as an advanced tactic of strategic management, in which the procedure of marketing of a product and/or service is entirely based on five pillars namely paid search engine marketing, offline media, word-of-mouth, mobile devices and organic search engine marketing to attract large number of customers (Visibility Magazine, 2012). This new trend of marketing ecosystem came into reality due to the introduction of information technology, resulting in augmentation of the inclination for search engines. Characteristics and Preparation of Real Time, Adaptive Marketing Ecosystem One of the significant features of marketing ecosystem is high dependence upon digital media, social marketing sites and online search engines in order to augment brand visibility. In this era of globalization, marketing ecosystem acts as nuts and bolts of the marketing system of an organization. It can be established with the help of three steps such as measurement, optimization and examination of the internal and the exterior environment of an organization. This aspect is shown in Figure 1 below: Figure 1: Preparation of Marketing Ecosystem Source: (Visibility Magazine, 2012). After thorough planning and evaluating of the underlying strategies, objectives and values of an organization, its target customers, market nuances, competitive advantages and competing companies, industry specific marketing ecosystem can be designed. It might help in enhancing the level of efficiency and profit margin of an organization in the long run (Omniture, Inc., 2008). Conceptual, Illustrative Diagrams Marketing Ecosystem In recent decades, the landscape of marketing has entirely changed. Due to the introduction of prospective online sources, promotional techniques are also becoming more interactive and transparent. The importance of social media is also becoming highly significant due to increased craze for search engines. Moreover, in recent era, marketing ecosystem also includes corporate social sources, mainstream media, blogs and paid media along with various major and minor social networks (Singer, 2008). It is depicted in the Figure below: Figure 2: Marketing Ecosystem in Recent Times Sources: (JB Media Group, LLC, 2011) Traditional Marketing Tools Marketing is an activity utilized by the organizations in order ...Download file to see next pagesRead More
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