ABSTRACT
This chapter examines the significance and application of new marketing thinking to strategic decisions and aims to determine drivers for realignment in strategic thinking. It explores the alternative approaches to strategic marketing decisions, also examines issues in strategic marketing decision making in small and medium sized enterprises, and explains the contribution of value-based marketing. A strategy that has been developed through an iterative learning process so that the resultant strategy is one that has emerged through the creative and iterative process of crafting a strategy of proactively seeking new opportunities whilst reacting to the challenges faced in the market. Strategic decisions are based on developing and leveraging sustainable sources of competitive advantage. These are often affected by changes in the macro or micro environment, including the actions of competitors and the expectations of customers. The key to creating shareholder value is building relationships with target customers based on satisfying their needs more effectively than competitors.
