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Analysis Of Strategic Marketing Of Abc Company. ATHE Level 6: Diploma in Management. Analysis Of Strategic Marketing Of Abc Company. 1.1 ROLE OF STRATEGIC MARKETING IN AN ORGANISATION. Template History - Funkyme.info! 4. 1.2RELATIONSHIP BETWEEN THE CORPORATE STRATEGY AND MARKETING STRATEGY 4. 1.3PROCESS OF FORMULATION OF MARKETING STRATEGY 5.
1.4 DECISIONS AND CHOICES AT CORPORATE LEVEL 6. 1.5DECISIONS AT BUSINESS AND FUNCTIONAL LEVEL 7. 1.6 COMPETITIVE POSITIONING OF AN ORGANISATION 8. 1.7 CONCLUSION 9. 2.1 INTRODUCTION 10. 2.2 INTERNAL ENVIRONMENT ANALYSIS 10. 2.3 EXTERNAL ENVIRONMENT ANALYSIS 10. 2.4 INTEGRATION OF INTERNAL AND EXTERNAL FACTOR 12.
3.1 INTRODUCTION 13. 3.2 MARKETING STRATEGIES THAT CAN BE ADOPTED BY A COMPANY 13. 3.3 ANALYSIS OF MARKETING COMMUNICATION STRATEGIES 14. 3.4 APPLICATION AND IMPLEMENTATION OF MARKETING STRATEGIES 14. 3.5 CONCLUSION: 15. In this part of the assignment, I am going to write about key principles of strategic marketing and its relationship with overall corporate strategy. Sample Business In Pdf! I will also try to Free History - Funkyme.info, find out how it helps an organisation to achieve its prime competitive objective over its immediate rivals. This will cover learning outcome of section 1 and 2 and all its respective assessment criteria. 1.1 ROLE OF STRATEGIC MARKETING IN AN ORGANISATION.
According to Sample In Pdf, Kotler et.al (2012. Powerpoint Template History - Funkyme.info! Pg38), 'Strategic planning is the process of developing and Verification Letter | Docoments Ojazlink, maintaining a feasible fit between the organization's objectives, skills, and resources and it's changing marketing opportunities'. In fact, strategy is Free History, a long term plan of an organisation in order to meet its objectives. The market is very dynamic. Letter Resignation Format, Email! Different products and services are developed by different organisation in order to Free Powerpoint Template History - Funkyme.info, provide best service to 2 Week Notice Letter Email, the customer. Powerpoint History - Funkyme.info! Strategic marketing will try to Examples, help any organisation or companies in developing product or service according to the changes that are occurring in the market. Customers demand and choices change more often. Due to several internal and external factors, the business environment change. In those conditions, strategic marketing is concerned on performing better in the changing condition rather than increasing its sales or revenue figures so that it can have long term effect in the customers. Free History! Quality of products or services that is provided to Verification Letter | Docoments, the customers in tough time is the Template, factor that helps to determine the future of the company. Strategic marketing is Resume Examples - Template, focused on establishing a long-term relationship with its customer rather than selling the product for just once.
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It can be better understood by the following figure. Fig: Ansoff matrix (Source: Business Analysis, ACCA) If the company wants to increase the share in the current market of Powerpoint Template - Funkyme.info, its existing product, it can take a strategy to reduce the price of the product so that more people buy it. Sometimes the Checklist - 9+ Free, company has to go into new market with its product to increase its market. Free Powerpoint History! Management has to decide on introducing new product on its existing market whereas sometimes the company has to go into new market by developing completely new product. All the major decisions are taken at corporate level. Porter's generic strategy tells how a company compete in the current market. Decisions are made at corporate level in determining which strategy the company should choose. It can be by taking a focus strategy or differentiation strategy or cost leadership strategy. In focus strategy, the management focus particularly on niche market. They try understanding the Verification Letter Ojazlink, dynamics of the market and needs of the customers.
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Each function contributes towards achieving the Powerpoint Template, targets. 2 Week Resignation Format, Email! It deploys specialists within the particular functional areas and integrates different activities within it. 1.6 COMPETITIVE POSITIONING OF AN ORGANISATION. In order to compete in a market, an organisation should have clear sets of goal or objectives. Only clear sets of goals give a proper direction to the company. There are various competitors in the market but the company has to build competitive strategy which can give sustainable competitive advantage over the rivals. While achieving the marketing objective of the company, a company faces different types of risks. History! There are many competitors who are selling the same or similar products or service in the business environment. There are many new competitors in the market who come up with different marketing strategies. Sample Business Consulting! Change in government regulations, tax and other charges, environmental regulation often brings obstacles to the company.
The risk should be tried to be minimized or avoided. Free Template - Funkyme.info! Sometime the risk can be transferred to other companies like insurance company whereas sometime it has to be accepted. A company can introduce itself in the market by Resume Marketing. Marketing Resume Tips. being a market leader. In that case, it has to minimize the price of the product. While doing so, the company may not generate enough profit which affects the future strategy of the company. In order to reduce the cost of the product, the Template History, production cost should be minimized. At that condition, the quality may be compromised which ultimately affect the future of the Resume Examples Housekeeping - Template, company. This strategy is beneficial when there are lots of competitors in the market selling similar product or service. Sometime company has to take some risky approach in order to keep itself in strong position in the competitive market. It has to challenge by Free Template going into new market or introducing the 7+ Application Letters Samples Pdf | Bussines Proposal, new product. Launching expensive gadgets in developing countries seems to be risky but there may be people who can afford the product.
In those conditions, company can benefit by Free Powerpoint Template challenging the market. There are conditions when company has to simply follow competitors. They wait and Resume Resume Tips., sit until someone goes into new market or produce different product in Powerpoint History, the existing market. Once the strategy seems successful, they come up with their product in the market. They don't want to take risk. Many hospitality business runs on this basis. Similarly, a company can have competitive advantage by New Employee Checklist Template - 9+ Pdf Documents focussing on small or niche market. There are different businesses which are focused on particular group of people. Luxury brands like Ferrari, Porsche and Rolex are focussed on affluent customer who can pay premium amount to get the Free Template - Funkyme.info, product or service. Their marketing strategy is to attract particular group of people than the ordinary people.
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I have used the PESTEL (political, economic, social, technological, environmental and History, legal) framework to discuss different factors. Political factors include the political stability in the country, stability of the government, government policy and Resume, programmes that affect the businesses. Different political parties in the country have different political agendas and often formulate different policies when they are in the government which may affect the existing or new investments. Along with political factor, economic factor is also key in determining the marketing strategy for the company. Template - Funkyme.info! There are different aspects like basic wage rate, personal income tax and corporation tax, inflation rate and economic growth rate of the country. Technological factor is also considered as very important. Technological development has made life very easy and Resignation Letter Format,, competitive. If we want to concentrate on marketing, there are different modes of marketing in current days.
Company can do marketing through internet, mobiles along with classical means like newspaper, television and Free, radio. Environmental issues are also considered as very important factors. Environmental conservation group must be kept happy while implementing different plans. Different regulations must be followed. Legal factors are also considered important.
There may be change in different rules and Verification Letter, regulation which must be updated while making strategy. There may incur heavy penalty if company doesn't comply the rules and regulation. Microenvironment of the company is another important factor to affect the company's marketing strategy. Customers, suppliers, intermediaries, public, competitors and components need to be analysed during the analysis of microenvironment. Customers are the users of the product or service.
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Finally, company's performance is Template History, compared with the Letter | Docoments, most successful competitor in the market. 2.4 INTEGRATION OF INTERNAL AND EXTERNAL FACTOR. Although internal and external environment are discussed separately, it is not possible to make decision or strategy based on the analysis of only Free Powerpoint Template - Funkyme.info, one component. Both the internal and external environment should be integrated. A different framework called SWOT (Strength, Weakness, Opportunities and Threat) analysis is done in order to find out Resume Marketing. Top 12 Marketing Cv Advice, integration between them. Strength and weaknesses look after the internal factor of the company whereas opportunities and threats look after the external factor. It is essential to look after the Powerpoint History - Funkyme.info, internal factors of the company before determining strength and weaknesses of the company. Company's management structure, financial capability, operational efficiency and decision making process are analysed. There can be different strength of a company. Multi-skilled staff helps company to perform its work efficiently and effectively.
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Similarly, there can be threats from new entrants and the existing competitors. Change in tax rate, increase in basic pay and environmental regulations are threat for any company. Thus, internal and external environment analysis is very important for good marketing strategy. To: The Manager, Millie's Cookies. From: ABC Marketing Solutions. Subject: Strategic Marketing Analysis of Millie's Cookies. Date: 24 February 2014. We are very happy to develop a marketing strategy for Millie`s Cookies.
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I have tried to focus on children who are easily attracted towards sweet things. Positioning: It is the process of arranging a product to occupy a distinctive, clear, desirable place relative to Bussines, competing products in order to Free Template History - Funkyme.info, increase sales. I suggest reducing the price of the cookies to make it more affordable to children and Tenant Verification Letter Ojazlink, include some attractive toys and sweets in the product. Relationship Strategies: it is the strategy to foster loyalty of Free, customer, interaction with them and maintain the long-term engagement. It focuses on customer acquisition, retention and extension.
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It can have a competitive advantage over Template, its rivals. Aung. et. al .2001. Core competencies of service firms a framework for strategic decisions in international markets. Journal of Marketing Management.17(7/8).pp619-643. Baker,M.2000. Strategic Marketing Plan Audit. London: Prentice Hall. Etingen, A. 2011.Business Analysis. London: Interactive Worldwide. David, F. Tips Marketing. Top 12 Resume Cv Advice! R. 2007.
Strategic Management Concepts and Cases. 11th edition. New York: Prentice Hall. Porter, M, E. 1988.Competitive Strategy. New York: The Free Press. Jagersma Pieter, K. 2006. Strategic Marketing and the global banking industry elements of excellence.
Journal of Business Strategy.27(4),pp50-59. Kotler, P Armstrong, G.2012. Principles of Marketing.14th edition. London: Pearson Education. Lancaster, et.al. 1998. An empirical investigation into the process of strategic marketing planning in SMEs. History - Funkyme.info! Journal of Tenant | Docoments Ojazlink, Marketing Management. 14(8)pp853-878.
Lee, K Carter, S. 2005. Global Marketing Management: Changes, Challenges. and New Strategies. New York:Oxford University Press Inc. Piercy Nigel,F.2009. Market led Stategic Change.Oxford: Butterworth Heinemann. Porter's Generic Competitive Strategies (ways of competing). 2014. Porter's Generic Competitive Strategies (ways of competing). [ONLINE] Available at:http://www.ifm.eng.cam.ac.uk/research/dstools/porters-generic-competitive-strategies/. [Accessed 22 February 2014]. Porter's Generic Strategies - Strategy Skills Training from MindTools.com.
2014. Porter's Generic Strategies - Strategy Skills Training from MindTools.com. [ONLINE] Available at:http://www.mindtools.com/pages/article/newSTR_82.htm. [Accessed 22 February 2014]. Prahalad, C.K., and Hamel, G. 1990. 'The Core Competence of Corporations', Harvard. Business Review, 68(3)pp 79-91. Strategy pyramid | On Product Management. 2014. strategy pyramid | On Product Management. [ONLINE] Available at:http://onproductmanagement.net/2011/05/03/understanding-the-strategy-pyramid/strategy-pyramid/. [Accessed 21 February 2014]. Value Chain Analysis. Free Powerpoint Template History - Funkyme.info! 2014. Value Chain Analysis. [ONLINE] Available at:http://maaw.info/ArticleSummaries/ArtSumDonelanKaplan98.htm. [Accessed 24 February 2014]
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