Marketing

Marketing Essay example
Masters
Essay
Marketing
Pages 4 (1004 words)
Download 0
Role of Marketing in Strategic Planning Student Name: Institution: Date of Submission: Kotler et al (2009) defines strategic planning as the process of developing and maintaining a feasible fit between the ever-changing marketing opportunities in business environments and the skills, objectives and resources at the disposal of the organization…

Introduction

Marketing is a particularly fundamental function for strategy formulation in a business. It informs a strategy, counsels it, reviews it and provides insights into strategy formulation in an organization. An outstanding marketing department is involved in a continuous cycle of measure-analyze-plan-measure. This cycle is as well a key ingredient of strategic business management function. Therefore, in essence, marketing is a key element of strategic management function. Great marketing can help the company in identifying and addressing improvement strategies to customers in either product differentiation or distribution channels (Kotler et al 2009). For example, forecasting is part of strategic planning, sales and marketing forecasts as always the main tools used in budgeting for the marketing function. In marketing research, the Research and Development personnel are essential for effective results analyses and interpretation. Kotler et al (2009), the chief aim of strategic planning is promoting the discernment of the company in the minds of the customers and consequently to increase customer relation and profitability of the business. Business strategic planning has to be undertaken to ensure the evaluation of all the options in a given situation. ...
Download paper
Not exactly what you need?

Related papers

Marketing
Developing an effective marketing mix for the organizations is one of the crucial aspects in the present advanced technological era. The marketing mix comprises the concept of 4Ps of marketing including Products, Price, Place and Promotion, related to the products and/or services that are rendered by any organization. Product Product or service of an organization can be determined as the…
marketing
I found the group activities that were part of the course to be quite stimulating. I will admit that the ‘Functional Presentation’ part of the course provided a greater challenge for me than did the mainly theoretical part of course; however, both sections challenged me to find new ways of learning. I found out that most of the time, businesses in today’s world operate in an environment…
Marketing
This is achieved through transforming the physical features and insubstantial insights of a marketing offering in relation to the rivalry. It is vital to note that position is not determined by the appearance of the product or the sustenance that it pursues to stimulate. However, it is instead the insight or appearance that takes a distinct location in the mindset of the consumer; furthermore,…
Marketing
This paper will look at marketing in general, as a process of moving products or services from the manufacturers or providers to the hands of their customers. Marketing Definition Marketing is a large process as Pride and Ferrell (3) defines it, encompassing quite a lot of processes. According to Pride and Ferrell (3) “marketing is the process of creating, distributing, promoting and pricing…
Marketing
Marketing is therefore an essential department in every organization since it deals with the product and service proportion thereby catering for the organization’s operations. The department works in close relation with other management departments to ensure the organization operates as a unified whole. In carrying out their mandate, the marketing department develops its operations depending on…
Marketing
2003, 504). Marketing structures that play roles in the strategic planning process include formalization, specialization and centralization (Kellar, A. 2009, 389). These structures are, particularly, important in shaping the performance of an organization (Laforet, S. 2012, 163). Formalization is the degree to which working relationships and decisions are governed by standard policies, procedures…
Marketing
At the apex are vital corporate decisions dealing with the firm's mission, visualization, goals, and the allocation of resources in the midst of business units. Planning at this stage involves decisions concerning the divestment of the business units themselves. These decisions drop down the corporate constitution to the business-unit level, where planning is mainly focused on achieving the…