Tradintional Marketing Managemtn
Strategic Marketing Management
It is a process of identifying and satisfying customers in order to achieve firms objectives.
It is a process where by a firm strategically differentiates it self from its competitors by capitalizing on its strengths to provide better value to customers than its competitors.
It is internally focused with stress on financial gains.
It has external orientation with stress on value focus.
It is a narrow concept with no intention to consumer and social welfare
It is a broad concept with stress on consumer satisfaction and social welfare.
TMM revolved around the seller and was in existence mainly before 1950's
SMM revolves around buyer and is followed in the 21st Century accorss the globe.
TMM considers short term time frame.
SMM marketing managers consider long term time frame
TMM does not invest funds in Marketing research
SMM Places a lot of emphasis and invert lots of funds in marketing research.
TMM adopts cost oriented methods of pricing.
SMM adopts consumer oriented methods of pricing.
TMM Managers make reactive decisions.
SMM managers make proactive decisions.
During TMM no SWOT Analysis was undertaken before introducing a product
Under SMM products are introduced in market only after undertaking SWOT analysis.
TMM gives more importance to maturity and experience rather than creativity.
SMM gives more importance to creativity and originality to develop plans and programmes.