Create a 8 page essay paper that discusses The Effects of Strategic Marketing on Business Performance.
Asikhia (2010) observed that for determining the connection among SMO (Strategic Managerial orientation) and performance of banks, it has been revealed that SMO relates positively and significantly with bank performance variables. The marketing competence has a reasonable influence on business performance. Marketing proficiency plays a vital role in affecting the formation of the marketing strategy of bank organizations. Extensive and technical skills guide managers to design strategic directive that helps to deliver better customer value and maintain the competitive advantage. The bank uses a classification scale for developing the model which studies the merger between other banks. The study contributes knowledge development by creating new scales for strategic marketing and bank classification which researchers can use in further research. The manager should be attentive in providing good performance, which needs consideration of the most important strategic variables and activities. The ‘long-term marketing’ strategy of the bank can play a vital role in supporting a competitive advantage. Long-term goals devote long-term decision process and provide long-term results. It allows other operational units of the bank in decision making and thus becomes more effective. Marketing strategies bring a better value of banking. The merger always doesn’t provide the expected result and desired performance. The management must take the decision to merge with other companies or buy over (Asikhia, 2010).
The study conducted by Garland and Brooksbank (2009) about Strategic Marketing and Business Performance of Sport says that marketing strategy planning in Australian sports organization is imperative today. Club performance does not vary with the size of the club but by ‘professionalism’ of management. Clubs with higher performance employ the permanent worker and on the other side clubs’ performing low depend heavily on the part-time worker. Those clubs whose performance is moderate shows the combined characteristics of both. .