Strategic marketing management - Essay Example
Strategic marketing helps http://how-to-write-a-term-paper88447.mystrikingly.com/ the organisation to supply products that will be accepted by consumers and at the most appropriate prices that will help to enhance profitability. This is because of the idea that the organisation starts with good market research to determine what consumers, the targeted group of consumers, the strengths and the weaknesses of competitors and future trends (McDaniel & Rylander 1993). The firm can then redesign and differentiate its products to meet and exceed consumersâ€™ expectations that in turn expand the market share and also enhance profitability. Â Additionally, strategic marketing helps the organisation to determine the optimal prices for its products in the various environments in which it operates (McDaniel & Rylander 1993). If high price establishes a perception of high value then the organisation can improve the quality of the product and offer the product at a higher price.
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