Strategic Marketing Management: The Framework

Strategic Marketing Management: The Framework delineates the  fundamentals of marketing strategy, offers a systematic approach to  marketing management, and presents a value-based framework for  developing viable market offerings. The theory presented stems from the  view of marketing as a value-creation process that is central to any  business enterprise. In addition to theory, this book offers a set of  practical tools that enable managers to apply the knowledge contained in  the generalized frameworks to specific business problems and market  opportunities.

The information contained in this volume is  organized into five major parts. The first part defines the essence of  marketing as a business discipline and outlines an overarching framework  for marketing management that serves as the organizing principle for  the information presented in the rest of the book. We discuss the role  of marketing management as a value-creation process, the essentials of  marketing strategy and tactics as the key components of a company’s  business model, and the process of developing an actionable marketing  plan.

Part Two covers issues pertaining to the development of a  marketing strategy that will guide the company’s tactical activities.  Here we focus on three fundamental aspects of a company’s marketing  strategy: the identification of target customers, the development of a  customer value proposition, and the development of a value proposition  for the company and its collaborators.

Part Three focuses on the  marketing tactics, viewed as a process of designing, communicating, and  delivering value. We discuss how companies design their offerings and,  specifically, how they develop key aspects of their products, services,  brands, prices, and incentives. We further address the ways in which  companies manage their marketing communication and explore the role of  distribution channels in delivering the company’s offerings to target  customers.

The fourth part of the book focuses on managing  growth. We discuss strategies used by companies to gain and defend  market position and, in this context, address the issues of pioneering  advantage and managing sales growth. We further address the process of  developing new market offerings and the ways in which companies manage  product lines to create market value. We also discuss the key principles  of managing product lines and ways in which companies can use product  lines to gain and defend market position.

The final part of this  book provides a set of tools that illustrate the practical application  of marketing theory. This part presents two workbooks: a workbook for  segmenting the market and identifying target customers and a workbook  for developing the strategic and tactical components of a company’s  business model.

The marketing framework outlined in this book  applies to a wide range of companies—startups and established  enterprises, consumer packaged goods companies and business-to-business  enterprises, high-tech and low-tech ventures, online and  brick-and-mortar entities, product manufacturers and value-added service  providers, nonprofit organizations and profit-driven companies. This  book combines theoretical rigor with practical relevance to strengthen  the marketing skills of a wide array of business professionals—from  those creating novel market offerings to those improving on existing  ones, from entrepreneurs launching a new business to managers working in  established corporations, and from product managers to senior  executives.

Strategic Marketing Management: The Framework is an  abbreviated version of a more comprehensive volume, Strategic Marketing  Management: Theory and Practice, which is intended for readers seeking  broader and more in-depth discussion, detailed analysis, and additional  perspectives on the topics presented in the current book.