WHAT IS STRATEGIC MARKETING?
Strategic marketing concentrates on the company’s strengths to offer more outstanding service and value to its clients; a company can set itself apart from the competition through strategic marketing. In a nutshell, the purpose of strategic marketing is to use an organization’s advantages over rivals from the consumers’ point of view.
WHAT HAPPENS IF WE DO NOT CONSIDER STRATEGIC MARKETING?
You risk overspending and receiving poor outcomes if you arbitrarily put advertisements, air commercials, and print promotional materials. If you don’t have strategic Marketing, the worst thing that may happen is that your company needs to generate more revenue to keep the doors open. Customers who are unaware of your company won’t use its services. Due to this, your company may see a slowdown in revenue, staff layoffs, inability to pay creditors, and, ultimately, closure.
If you don’t have strategic Marketing in place. You won’t have a formal system for determining where your leads and customers originate, so you won’t be able to determine which of your marketing strategies is effective. You can be underusing efficient marketing tools while wasting money on venues for marketing and promotion that are ineffective for your company.