Blue (1984) defined marketing strategy as a major plan or method for achieving major objectives or goals; he further said that tactic is the plan or method devised to implement the strategy.
The total environment in which the company functions best explains marketing strategy. The business exists like a living organism in an environment that constantly changes and oblivious of the very existence of any particular company. In order to adapt to this changing environment, the company must also need to change.
According to Sobowale (1997) Strategy can be looked into from another angle, which is the deployment of human and financial resources against competitors in the pursuit of goals and objectives determined by the leaders of business enterprises, organisations, and even nations.
He argues further that marketing strategy embraces decisions that involve the kind of company the organisation wants to be and the sort of competitor the company wants to compete with.
STRATEGIC MARKETING PROCESS
A strategy is a unified, comprehensive, and integrated plan that relates the strategic advantages of the firm to the challenges of the environment. It is designed to ensure that the basic objectives of the enterprise are achieved through proper execution by the organization (Lawrence and William 1988).
Charles and Gareth (1998) define strategy as a specific pattern of decisions and actions that managers take to achieve an organization's goals. Thus, majority of organizations usually have well defined goals in order to achieve superior performance. From the above, a strategy can be defined more precisely as the specific pattern of decisions and actions that managers take to achieve superior organizational performance.
Nigeria Financial Review (1998) also defined strategy as a proposed action or sequence of actions intended to have a far-reaching effect on the entity's ability to achieve its objective. It is a blue print of all the important entrepreneurial, competitive and functional area actions that are to be taken in pursuing entity objectives and positioning that entity for sustained success.
Strategy describes the decision-making rules governing the direction of growth and profits of an organization's business. In the absence of strategy, there will be no rules to guide the search by the company for new opportunities, there will be a high risk of making bad decisions and there will be lack of control over the overall pattern of resource allocation.
Strategic marketing process is thus a managerial process of analyzing market opportunities and choosing marketing position, programs and controls that create and support viable business that serve the company's purpose and goals. It involves planning the future destiny of marketing, it is highly relevant for any organization that intends to focus on the future rather than the present or past strategies and activities.