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Explain the Strategic Marketing Framework and who the parts interact with each other. Why is this framework useful to us?
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Answer #1

Strategic marketing framework is adppted for efficient and effective marketing plan for organisation to remain competitive and stay ahead of curve.

Strategic marketing framework has following elements unteracting with each other namely:

  1. Market analysis
  2. Market selection
  3. Marketing mix
  4. Customer acquisition
  5. Customer retention

This framework largely helps organisations in customer acquisition and retention for long run and lowers acquisition costs. It helps create brand awarness, brand resonance and brand imagery and overall generate top of mind recall, positioning, segmentation, impressions, reach.

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