The effects of Strategic marketing on Business performance Dissertation

The effects of Strategic marketing on Business performance - Dissertation Example But this study will show that it is a much broader aspect with different factors acting to develop strategic marketing and which affects the overall performance of a business organization. Acknowledgements I am thankful to all my faculty members, colleagues and institution for giving me an opportunity to study the process of Strategic Management and analyze them in the context of real life scenario. I am also especially thankful to my supervisors for their timely advice, feedbacks and tips which aided me in improving upon my work and remain punctual in the agreed scheduled deliveries of dissertation chapters. Table of Contents Page No. Abstract 2 Acknowledgement 3 1. Introduction 6 1.1   Background 6 1.2   Aim and objective of research 11 1.2.1  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Aim of the study 11 1.2.2 Objective of the study 12 1.3 Scope of the study 14 1.4 Key Concepts 15 1.5 Structure of the thesis 20 2. Literature review 21 2.1   Strategic marketing 21 2.2   Marketing capabilit ies and assets 33 2.3 Business Performance Measurement 36 3. ... Discussion and Conclusion 54 6. References 58 7. List of Figures 7.1 Figure 1 20 7.2 Figure 2 21 7.3 Figure 3 27 7.4 Figure 4 28 7.5 Figure 5 31 7.6 Figure 6 32 7.7 Figure 7 33 7.8 Figure 8 35 7.9 Figure 9 38 7.10 Figure 10 56 1. INTRODUCTION 1.1. Background Marketing is one of the most significant factors of the business and in the book Practice of Management Drucker wrote, â€Å"There is only valid definition of business purpose to create a customer†¦[Therefore], any business enterprise has two -- and only these two – basic functions: marketing and innovation. They are the entrepreneurial functions. Marketing is the distinguishing, the unique function of the business.† (Silk, 2006, p.vii) So it is evident, for outperforming competition and taking accurate marketing decision, every company requires good marketing knowledge. An organization’s product positioning and services depend on the performance and implementation of intellect and good strategic plans. This can be explained simply by the statement about marketing management provided by Moore and Pareek (2009, p.7) â€Å"in business, marketing has two aims. The first is to attract new customers by highlighting the potential value of a good service. Getting customers is an active process, meaning the business must solicit the customer; rarely do customers come to business. The second aim is to retain customers by continually meeting and surpassing the customer’s satisfaction with the products.† (Moore & Pareek, 2009, pp.7-8) In the present era, market has become highly competitive. In this competitive market, a strategy is needed to offer product or service which will do better than the competition. In this context Kenechi