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Marketing - Essay Example

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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 objectives inside defined product markets. Planning at this stage must consider and be regular with decisions prepared at the corporate level. However, single business unit organizations, corporate and business unit approach are the same. Crucial planning and decision making usually originates at the bottom of the structure. It is at this stage where firms put into operation the planned decisions regarding marketing strategy as well as marketing plans. This report seek to identify the role of marketing during strategic planning in building profitable customer relations. Also, it will highlight on negative impacts of a biased marketing plan. For a long time now, managers and academics have tried to differentiate productive from unproductive companies. The answer lies in the firm’s ability to bring greater customer significance, thus outperforming the competitors in the view of the customer. Within the limitations of corporate and  business strategy, strategic marketing is the instrument for making choices with regard to the client value for a target audience. By the use of segmentation and positioning, strategic marketing assist in targeting a company's marketing tools to achieve the market and marketing objectives formulated. Kotler defines Customer value as customers' feelings about the products received from a firm including the risks related to that product. The key point is the identification of opportunities for consumer value. It also involves the process of analyzing the external and internal company atmosphere. The intention is to improve opportunities for value formation and counter threats that may expose the use or authority of the present value generators in the future. The recognition and assessment of means to value creation are also fundamental as it is the capability to devise and realize plans based on the value invention decisions (Kotler, 2009). The Role of Marketing The planning process begins with an examination of the firm's internal and external entities creating a situation analysis. Based on a comprehensive review of these applicable issues, the firm establishes its operation, strategy, objectives, and more than a few functional plans. Planning efforts pertaining each functional area will generate strategic plan for that area. Although it is pertinent to note that the processes apprehended with developing a customer-oriented marketing strategy and marketing plan, should pressure that firm to develop effective marketing plans that are conversant with the business's goals. Senior management must synchronize these functional plans in a way that will achieve a firm’s mission and business objectives. The Marketing Plan is a written document providing the layout of the firm’s marketing activities that involve execution and control of those proceedings. A marketing plan generates a number of purposes. For one, the marketing plan distinctively depicts how the firm will achieve ...Show more

Summary

Marketing Management Name Institute Date Marketing Management Strategic marketing planning for any company can sometimes be complex. Strategic planning today often requires collaboration with other firms while carefully observing other competitors. The process of planning is usually similar a number of ways…
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