Strategic marketing: DELL - Term Paper Example

Download file to see previous pages In this manner, strategic marketing tends to shape the corporate strategy of organisation and providing an inducement for innovation and growth (Blythe 2000). Strategic marketing involves creation of a marketing plan for the Dell to assess its current status regarding the product, pricing, distribution and promotional strategies. Strategic marketing is undertaken by organisations for the purpose of developing business plans that aim at meeting the needs of the customer, the channel or the consumer. With the help of these business plans Dell tends to assess the needs of its customers, the competitive environment and its own competencies. Strategic marketing leads to the assessment of the relationship of Dell with the external business factors like level of competition, target market, development of sales objectives, and strategies for achievement of goals. Dell uses strategic marketing in meeting the objectives of discovering new channels, products and services for fostering growth and making its existence in the market. Strategic Marketing Process The process of strategic marketing involves a five step procedure. It involves a process of planning for the purpose of setting a clear direction and identical purpose that meets the efforts of the marketing strategy of an organisation (Stanco 1996). The first sep starts with identification of the mission, which is followed by the analysis of situation, then objectives are determined for which a marketing strategy is developed and finally evaluation of the plan is done in order to identify the effective functioning of the strategy. Identifying the Mission The first step involves identification of the mission and purpose of existence of the organisation and its purpose of meeting the objective of providing benefit to the customers in the long run. This mission statement involves anticipation of future in the long run and analyse the existing importance of the organisation’s product, service and level of expertise. Situation Analysis This is the second step in which organisations conduct an analysis of the existing situation in order to set the strategy in accordance with the current situation. The situation analysis involves SWOT analysis in order to set priority for determining the strengths, weaknesses opportunities and threats that exist in the organisation. This process enables understanding among the managers regarding the resources that they can build for their organisation and the challenges that they may come across. Strengths and weakness of the organisation are the internal factors and are under the control of the organisation. On the other hand, opportunities and threats are the external factors that outside the boundary of organisational control (Ferrell 2010). Objectives This is the third step of strategic management process, which involves setting of organisational objectives, on the basis of which the marketing strategy of the firm is to be developed. It is important to identify and develop goals that are specific and measurable and provides a basis to the decision makers for making choices and analysing the progress of organisation. These objectives can be in terms of quantitative as well as qualitative goals like revenue, profits, market share and sales of the company. It is important to determine such objectives that can be accomplished within a given period of time. Strategy and Evaluation ...Download file to see next pagesRead More