A strategy in its broad meaning can be defined as a plan on how to achieve certain organizational goals and objectives (David, Marion, Florence, Carolina, & Consultant, 2014). It helps in answering the question about what the organization intends to achieve. Most organizations have different business segments, each serving unique customer needs. Each of these businesses forms the strategic business units (SBU). Each business unit requires specific strategic plans and strategic marketing. These strategic processes possess a number of relationships that facilitates the organization to meeting its goals and objectives.
The first relationship between strategic planning and strategic marketing process arise from the fact that both are organization plans that guides its activities towards meeting its goals and objectives. The strategic marketing process is a detailed plan on how the organization is set to grow within its market segment (Gilligan & Wilson, 2003). While strategic planning is a detailed plan on how the organization sets to position itself in relation to competitors and customers. The marketing planning process involves collecting market data and analysis of such data for use in the projection of long-term organizational goals.
Since every organization is in a competitive business environment with limited resources, it must develop strategies that will align its activities in a more competent way. According to (David, Marion, Florence, Carolina, & Consultant, 2014), all the tactics that enable the organization to achieve its goals in a competitive way are detailed in a strategic plan. The strategic plan is broader aspect of strategic planning, which has marketing planning process as its subset. The strategic marketing process is developed from the strategic planning initiatives. Once the strategic plans have been detailed, the marketing plans can be developed.
Both the strategic planning and strategic marketing process involves the market analysis to determine the strengths, weaknesses and opportunities. According to (David, Marion, Florence, Carolina, & Consultant, 2014), the strategic planning process involves the collection, screening and analysis of information regarding the business environment of an organization. According to the author, the development of a strategic plan requires a coherent understanding of the business strengths, weaknesses and the development of clear objectives, goals and mission statement.
Similarly, the marketing planning process involves the analysis of the specific market segment to determine the strength, weakness and opportunities for growth. These marketing analyses share similarities with the strategic market analysis. Both strategies involve competitor analysis, analysis of opportunities and use of the data to create plans to achieve organizational goals and objectives. However, the marketing planning process is more specific to the particular product or service that serves that particular market segment.
The data collected in marketing planning process is used in creation of marketing strategies, such as penetration tactics, product design and distribution (Gilligan & Wilson, 2003). The strategic marketing process covers the broader organizational strategy, which factors all the organization business units. The data collected in strategic planning process is used to inform the organization production practices such as quality and cost reduction.
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