StudentShare solutions
Triangle menu

Developing Marketing Strategies and Plans - Essay Example

Not dowloaded yet

Extract of sample
Developing Marketing Strategies and Plans

Marketers also need to be careful about their cost structures. Companies that seem to have firm control over their cost especially in relation to industry requirements are the primary competitors. Also, if a company operates in an industrial that is largely international, then chances are that the most competitive companies are the ones who have a well established global markets and they qualify as primary competitors. On the other hand, some companies may be operating in industries with high levels of vertical integration. For instance, a company liaises with its suppliers to create a larger market force. Such companies end up dominating the market and therefore qualify s primary competitors. (Hope, 1997)
The automobile industry is affected by cost structure. It can be argued that they spend most of this cost on production and advertising. In the nineties, Honda managed to establish a name for itself especially in the US market because it invested in new technologies. Consequently, its products were superior to those ones offered by other competitors such as Toyota and it became a primary competitor for Toyota.
The second approach that companies can use to identify their primary competitors is through marketing. In this approach, companies need to look out for those companies that satisfy the same needs that they do. The current market has changed drastically. Primary competitors are not just those companies offering the exact same things offered by the company; they are firms that can serve similar needs. This approach requires that marketers trace all the captivities involved while using their product and then examine what other firms perform the same...
The researcher states that marketers, that are using the industrial outlook need to realize that all companies providing similar products or services fall in the same categories. Marketers need to ask themselves whether their companies represent the monopolistic structure, oligopolistic structure, monopolistic competition structure or pure competition structures since each of these structures will have different primary competitors. The first structure is made up of only one company providing a particular good or service. Such companies may not need marketers as they dominate the market. Oligopolistic structures may have some competitors in the market but they are fe in number. On the other hand, monopolistic competition applies to those who specialize in certain products. This category has to identify their competitors. Lastly, there is the pure competition structure where all competitors offer the same products. The automobile industry, that was discussed as an example in this essay can be classified under the pure competition sector but there may be instances when it also falls under the monopolistic competition structure. The essay suggests that the competition became a major issue today, that is affecting marketing strategies and companies, that need to be aware of this. Market followers can adopt leaner production strategies and reduce prices of common products. Market challengers can use price, distribution, promotion and product innovation as ways of maintaining competitive advantage. ...Show more

Summary

This essay aims to analyze and present the current business environment with the examples from the automobile industry. The researcher focuses on the analysis of the process how marketers identify primary competitors and ways of analyzing competitor’s strengths and weaknesses…
Author : xwitting
Developing Marketing Strategies and Plans essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Developing Marketing Strategies and Plans"
with a personal 20% discount.
Grab the best paper

Related Essays

Marketing Strategies
This is due to the fact that the different elements of macro environment which include demographic, economic, technical, natural and political factors tends to affect the business organisations like Global Bikes by a significant level (University of London, n.d.).
11 pages (2750 words) Essay
Developing Business Plans. (Quick Take Expresso)
Quick Take Expresso is a new business which will provide different food products especially coffee to the customers. The company will be a partnership business with two partners who will manage the regular business activities.
18 pages (4500 words) Essay
Strong marketing plans
The aim of this paper is to identify at least two possible ideas that can be used by the company as a means to improve their marketing and their overall position in the markets. The suggestions made here are based on the promotional mix of the company as well as with a detailed view on the view point of the customers as well as the marketing managers
6 pages (1500 words) Essay
Classic airlines and marketing
Classic Airlines is facing problems as the firm has not been effective at retaining customers. In the last year the firm has lost 20% of the member of its customer loyalty program. The firm has lost approximately 160,000 recurrent clients.
2 pages (500 words) Essay
Developing marketing strategies and plans
In the traditional view of marketing a company produces something and then sells it. This view does not consider markets in which consumers have choices. To succeed in such a market companies must design products that adapt to the needs of the customers.
2 pages (500 words) Essay
Product launched discussion
In 2010 ecommerce sales reached $147 billion in the United States (Plunkett Research, 2011). The company analyzed in this paper is Kudler Fine Foods. This paper will identify a new product launch for Kudler Fine Foods. Kudler Fine Foods is a great establishment that offers a variety of fresh food products.
2 pages (500 words) Essay
Marketing Strategies Marketing Essay
The entire business community has stepped into the race of competition where the enterprises yearn for providing their customers with the unsurpassed and preeminent products and services in order to have an edge over their competitors. However, in this chase of competition, the approaches and methods with which the organisations loom or come within reach of their customers play a significant part.
8 pages (2000 words) Essay
Marketing Strategies Essay
s function from any business and still be able to run the business smoothly. Marketing is that function of any business that focuses on satisfying customer needs. It is so important that if is done carefully, so it can become a reason of the turnaround of a failed business and vice versa.
7 pages (1750 words) Essay
Marketing Strategies
Starbucks truly dominates the specialist coffee shops sector, with the next largest brand, Doutor Coffee Shop, having a value share of less than 4%. Starbucks has two operating segments: company-operated retail and speciality. During 2006,
8 pages (2000 words) Essay
Managerial Finance and Accounting
However, with an overall gloom and recessionary fears in the market, it is high time that we look into certain important policy matters failing which, it may not be able to restore its previous market leadership
6 pages (1500 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation