Strategic Marketing Process
The purpose of this paper is to briefly explore the strategic marketing process, specifically the key phases of planning, implementation, and control. In addition, the application of mixed marketing to create a market segments as well as customer loyalty is equally explored. Several relevant scholarly sources were identified to provide research and information about the strategic marketing process and its evolutionary development from the industrial to the information technological age.
Strategic Marketing Process and the Key Phases
Tony Proctor, in his book, Strategic Marketing: An Introduction, defines a strategy as a plan that incorporates and integrates an organization’s mission, major goals, policies, decisions and “sequences of action into a cohesive whole” (2000, p. 1). All levels of an organization, including functional areas can have a strategy for achieving its specific goals and objectives (Proctor, 2000). This means that the strategy process is defined according to how a specific strategy is formulated (Proctor, 2000). Proctor sugges…