CIM Revision Cards Strategic Marketing in Practice

Karen Beamish

• Publisher: Routledge
• Year: 2012
• Print ISBN:
  9780750686464
• eBook ISBN:
  9781136019135
• Topic: Study Aids
• Subtopic: Business General

Designed specifically with revision in mind, the CIM Revision Cards provide concise, yet fundamental information to assist students in passing the CIM exams as easily as possible. A clear, carefully structured layout aids the learning process and ensures the key points are covered in a succinct and accessible manner. The compact, spiral bound format enables the cards to be carried around easily, the content therefore always being on hand, making them invaluable resources no matter where you are.

INTRODUCTION TO STRATEGIC MARKETING IN PRACTICE

LEARNING OUTCOMES

	Identify and critically evaluate marketing issues within various environments, utilising a wide variety of marketing techniques, concepts and models.
	Assess the relevance of, and opportunities presented by, contemporary marketing issues within any given scenario including innovations in marketing.
	Identify and critically evaluate various options available within given constraints and apply competitive positioning strategies, justifying any decisions taken.
	Formulate and present a creative, customer-focused and innovative competitive strategy for any given context, incorporating relevant investment decisions, appropriate control aspects and contingency plans.
	Demonstrate an understanding of the direction and management of marketing activities as part of the implementation of strategic direction, taking into account business intelligence requirements, marketing processes, resources, markets and the company vision.
	Promote and facilitate the adoption and maintenance of a strong market and customer orientation with measurable metrics.
	Synthesise various strands of knowledge and skills from the different syllabus modules effectively in developing an effective solution for any given context.

Aim

Marketing has to be firmly rooted in theory and practice. Practice informs theory and vice versa. Strategic Marketing in Practice not only builds on the knowledge and skills developed in the preceding modules, but also looks for an overall competence in marketing that encompasses all the various subject areas covered in the lower qualification levels. As marketing is constantly evolving, one of the aims of this module is to explore the latest trends and innovations relevant to marketers operating at a strategic level within organizations. There is no specific syllabus for this subjects as it is based upon the syllabi for the other post-graduate modules and as such draws on all knowledge gained within those modules.

Analysis and Evaluation – Covers the concepts, techniques and models involved in developing a detailed understanding of the market, customers and competitive environment externally and internally the organization, its capabilities, assets and opportunities available.

Strategic Marketing Decisions – Covers the concepts, techniques and models involved in formulating a customer-focused competitive business or corporate strategy and developing a specific and differentiated competitive position. It includes investment decisions affecting marketing assets.

Managing Marketing Performance – Covers the implementation stage of the strategy. This encompasses managing marketing teams, managing change, implementing strategy through marketing activites and working with other departments and using measurement as the basis for improvement.

Fig. 1.1. Strategic Marketing in Practice and links with other modules.

Marketing drives the business agenda

Marketing is a set of activities concerned with creating value for shareholders and other stakeholders by creating and capturing exceptional value for customers. Organizations expect professional marketers to take increasing ownership for the whole customer experience; this requires them to be more aware of the operational business agenda.

Professional marketers in publicly quoted or limited companies have to:

	Focus on the long term – While other business functions can maximise economic profit through efficiency, marketing is the only way to create value. Marketing typically creates three times more value than other functions.
	Create and capture value for customers – Marketers create the value perceived by customers for an organizations products and services. By increasing perceived value, marketers create the opportunity for premium pricing through which economic profit is increased.
	Take charge of the business agenda – Marketing uses its activities and assets to create customer value. Shareholders measure the value that the business has created for them as the sum of dividends paid ...

Table of contents

• Cover
• Title
• Copyright
• Table of Contents
• Preface
• 1. Introduction to Strategic Marketing in Practice
• 2. What is meant by Case Study Analysis?
• 3. Understanding the Direction and Management of Marketing Activities
• 4. Contemporary Marketing Issues
• 5. Effective Customer Orientation
• 6. The Examination