Strategic Marketing Management: Planning, Implementation, and Control - Essay Example

Marketing opens a wide vista of opportunities for buyers and sellers where needs are created and later satisfied by the promised product. In the contemporary environment of advancing technology and globalization marketing requires creative input to gain a competitive advantage. Wilson and Gilligan, (2003: 4) assert that ‘marketing is increasingly being conceptualized as an organizational philosophy or ‘an approach to doing business. The changing social structure and technology have significantly influenced consumer buying behavior that has been empowered with a wide source of informed choices through the internet and computers.

The expectations of consumers from the product and services have been redefined to encompass important issues like environment conservation, socially responsible behavior, etc. Hence, marketing has become a key element of organizational success. The various imperative of market strategies like brand creation, market segmentation, advertisements, etc is important issues that help to credibility and awareness regarding products and services. Marketing helps to develop a committed database of customers whose changing preferences are met through the customization of products and services that meet their requirements.