Strategic marketing plays a vital role within today’s highly competitive business world. With pressures of globalization, increased profits, and our current economic conditions, companies must focus their efforts on perfecting their current marketing strategies. In order to successfully accomplish this, companies must first fully comprehend and effectively utilize basic strategic marketing terms. Some important terms within the strategic marketing process include, the marketing concept, the marketing mix, mission statement, vision statement, and positioning. In addition to the marketing concept, the marketing mix is another important strategic marketing term. The marketing mix is a commonly known term within marketing. The marketing mix is centered on four variables known as the 4 P’s. These variables include product, price, place (distribution), and promotion. Product refers to the actual product and or service available for customers as well as any additional aspects associated with the product such as warranties or guarantees. One important aspect of product is branding. To have a successful product, a company must create brand awareness and ultimately brand loyalty. The price variable includes the actual list price of the product accompanied with any discounts or financial. The place or distribution variable focuses mainly on channels of distribution and location. It is important for distributors to have central distribution channels for effective and efficient distribution of their product/service. The final variable is promotion, which is extremely important within marketing. Promotion mainly deals with advertising but can also include public relations. When used correctly, these four variables can allow companies to gain a competitive advantage within their target market. Another important term is positioning. Positioning refers to a concept used by marketers to influence the minds of consumers. Having a strong positioning strategy allows companies to...