The latest global economic crisis has shown that when corporate policy is primarily geared
towards financial goals it may violate the ?going concern= principle & instead corporate
management should focus on strategic marketing. In contrast to short-term operational
management principles the aim of strategic marketing management is to build up lasting
competitive advantages for companies and their business areas. In order to establish such
advantages companies first need to define the market and business segments that are relevant
to them carry out strategic analyses and forecasts to identify potential market developments
and finally they must design and implement competitive strategies. This third edition of the
book indicates the essential methods and processes that are relevant in the context of
strategic marketing. New additions in particular include considering situational strategy
options in the market life cycle in order to be able to better identify the specific
characteristics of new young markets and also those that are stagnating and shrinking.
