General information
The definition of 'Strategic marketing'
Strategic marketing is what companies do when they have a written marketing strategy that guides all of their activities. It is long-term in character and serves as the foundation for all marketing decisions. Strategic marketing is a viable plan for gaining a specified marketing-related goal (or goals). It considers what your company is already working well and what you’re missing in your dream, making you more likely to achieve it.
What does a SWOT analysis stand for, and what is its main purpose?
Strengths, Weaknesses, Opportunities, and Threats. It helps evaluate internal and external factors affecting a company’s performance.
A boutique bakery has been successful in its local market but faces stagnating sales. Competitors are starting to offer similar 'artisan' products. What should the bakery’s next strategic marketing step be to sustain growth?
Reevaluate its differentiation strategy - possibly by expanding into premium product lines, building stronger brand storytelling, or targeting new customer segments such as corporate gifting.
What is Product Lifecycle Management?
Product lifecycle management (PLM) is a process that helps manufacturers bring products to market quickly andefficiently while maximising profitability and minimising risk
The definition of 'demographic' segmentation
Groups defined by age, income, education and life stage used to tailor messages.
What is the main difference between strategic and operational marketing?
Strategic marketing is long-term and focused on positioning and growth, while operational marketing focuses on short-term tactics and execution.
What external factors are examined in a PESTEL analysis?
Political, Economic, Social, Technological, Environmental, and Legal factors.
A mid-size electronics retailer realizes that online competitors are taking a growing share of its market. The company has a loyal customer base but outdated marketing channels. What strategic shift could help it stay competitive?
Implement an omnichannel strategy integrating online and offline experiences: such as click-and-collect services, loyalty programs, and personalized digital marketing.
What is the "decline" stage of a product lifecycle?
The decline stage is when a product is no longer selling well and is nearing the end of its life cycle The primary goals of the decline stage are to minimise losses and wind down production.
Main types of segmentation
Demographic, psychographic, geographic, behavioral
Why is continuous environmental scanning essential in strategic marketing?
Because it allows firms to anticipate market changes, identify new opportunities or threats, and adapt strategies proactively rather than reactively.
How does data analytics support strategic marketing decisions?
By providing insights into consumer behavior, market trends, and campaign performance, enabling evidence-based strategic decisions.
A fitness app has a large number of downloads but very low user retention. Its marketing campaigns focus mainly on acquiring new users. From a strategic marketing perspective, what mistake is the company making and how can it fix it?
Overemphasis on customer acquisition instead of retention. The firm should shift to relationship marketing enhancing personalization, community engagement, and long-term value communication to improve customer lifetime value.
By combining both of __ strategies, businesses can maximise their competitive advantage and adapt to the ever-changing market dynamics
Product and process innovation
Why do businesses use STP model?
It can help businesses identify and better understand their target market, customize their marketing efforts, and position their products or services effectively.
Which three stages usually make up the strategic marketing process?
Planning, implementation, and evaluation.
Explain the difference between a PESTEL analysis and a SWOT analysis in terms of scope and application.
PESTEL focuses exclusively on external macro-environmental factors, while SWOT integrates both internal and external elements to form a comprehensive strategic picture.
A traditional luxury fashion house is losing relevance among younger audiences who prefer sustainable and inclusive brands. What strategic marketing reorientation should it pursue without losing its core identity?
Engage in brand rejuvenation by integrating sustainability and inclusivity into its heritage narrative (e.g., launching eco-conscious collections, using diverse brand ambassadors, and emphasizing craftsmanship as timeless sustainability)
Which extension strategies companies should consider through product life cycle?
Product line extensions involve introducing new variations or versions of an existing product. The geographical expansion invojves introducing a product into new regions o countries. Target market expansion involves identifying new GT Fustomer segments and tailoring the product to meet their specific needs
Steps to conduct market segmentation
Perform an audience analysis --> Create a buyer personi --> Identify market segment opportunities --> Research the potential market segment --> Test the idea
Critically evaluate the role of strategic marketing in volatile or uncertain environments.
It acts as a dynamic framework that enables adaptability, through constant environmental scanning, scenario planning, and flexible goal-setting. It allows firms to sustain competitive advantage despite market instability.
Critically assess how combining multiple analysis tools (e.g., PESTEL, SWOT) enhances strategic accuracy and reduces decision-making bias.
Integrating multiple frameworks provides a multidimensional understanding of the business environment which minimises blind spots and subjective bias, leading to more evidence-based strategic decisions.
A global beverage company faces criticism over its environmental footprint, leading to declining brand trust. Its market share is still high, but long-term reputation risk is rising. From a strategic marketing standpoint, what actions should the company take to rebuild credibility and ensure sustainable growth?
Adopt a proactive corporate social responsibility (CSR) and shared-value strategy, setting measurable sustainability goals, partnering with NGOs, transparently communicating progress, and reframing its brand positioning around ethical innovation to turn responsibility into a competitive advantage.
What is the BCG matrix, how does it differ from the product life cycle, and an explanation of its stages.
Named after the Boston Consulting Group, the BCG Matrix is a model that classes a product according to its growth rate and market share. If this seems similar to the product life cycle model, that’s because it is. Both models track a product’s growth stage, helping business management determine how to allocate resources to the product. They also follow a similar growth, maturity, and decline pattern.
What is latent class analysis?
A technique that identifies segments by modeling probaWility of membership using observed covariates and allowing segment specific outcome distributions; commonly M implemented with the EM algorithm.