ABSTRACT
This chapter discusses some of the major changes that have taken place in the marketing environment. Change is increasingly common, it happens quickly and it can often be complex. It deals with both strategy and planning in relation to marketing. The chapter will begin by defining strategic marketing. The chapter examines the structure of marketing plan, and will briefly review stages in the planning process. It introduces some of the techniques that organisations can use in order to help develop marketing strategies within the context of the development of the marketing plan. Planning is an essential element of marketing. A strategic approach to marketing in the financial services sector needs to concern itself with understanding consumers and deciding how best to respond to their needs. Strategic marketing is essential to revenue growth because it focuses the organisation on customers, competitors and the challenges of a constantly changing marketplace.
