Developing marketing strategies and plans. - Essay Example

Free

Extract of sample
Developing marketing strategies and plans.

To create good marketing strategies that adapt to the realities of the marketplace companies must be flexible. Marketing involves satisfying the needs and wants of the customer.Successful companies are able to deliver customer value while at the same time earning a profit. 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. Nirmalya Kumar “3V” approach to marketing states: 1) define the value segment or customers; 2) define value proposition; 3) define the value network that will deliver the promised service. The value chain was created by Michael Porter as a tool to identify ways to create more customer value. The value chain has five primary activities and four support activities. The five primary activities of the model are inbound logistics, operations, outbound logistics, marketing and sales, and service. The four support activities are firm infrastructure, human resource management, technology development, procurement. The holistic marketing view integrates the value exploration, value creation, and value delivery activities in order to build long term relationship with all stakeholders. The marketing plan is the central instrument for directing and coordinating the marketing effort. The two levels of the marketing plan are strategic and tactical. ...
Download paper

Summary

To create good marketing strategies that adapt to the realities of the marketplace companies must be flexible. Marketing involves satisfying the needs and wants of the customer.Successful companies are able to deliver customer value while at the same time earning a profit…
Author : bodejayme
Download 0

Related Essays

Critically evaluate the role of marketing in developing strong fashion brands in the 21st century'
“The most effecting marketing plans are those that are simple yet effective and easy to implement” (Daud, 2008). Creation of an effective marketing plan is extremely important for a company because it helps the company create the entire business plan for carrying out the business activities (Perez, 2010). 1.1. Benefits of a Well-Structured Marketing Plan Fashion products manufacturing companies face a lot of challenges if their marketing strategies are not capable of attracting and retaining the customers. For this purpose, companies need to implement appropriate marketing plans because...
5 pages (1255 words) Essay
Strong marketing plans
Most of the successful companies owe their success to the strong marketing plans and marketing programs that they incorporate into their businesses. Here five companies have been chosen to study the possible improvements in their marketing programs. 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...
6 pages (1506 words) Essay
Developing a New Plug-in Hybrid Vehicle (Marketing Plan)
The situation analysis has been conducted using PESTLE and SWOT analysis. PESTLE analysis disclosed that the macro-economic factors are favourable for Ford’s hybrid car market development. However, after the financial crisis, the purchasing power of the UK consumer has reduced and hence the demand of high cost hybrid cars will remain low for few years. High brand image and large portion of market share are the two major strengths of Ford in UK, and increasing competition and high production cost are the major threat for the company. Major target market consists of high income group people...
16 pages (4016 words) Essay
Classic airlines and marketing.
The Airline industry has changed a lot in the past decade. The cost of doing business in this industry went up after 9/11 as security and insurance cost increased. The biggest cost driver in the airline industry is fuel.The current price of crude oil is $112.77 a barrel (Oil-net, 2011). 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. Another issue is that the remaining members of the loyalty program have...
2 pages (502 words) Essay
compare and contrast the marketing strategies used by Waitrose and ASDA in UK . How do they identify the needs of their customer
The product should as well better the lives on the customers, who should always desire to come back for more; this keeps a business at a competitive advantage since it is capable of sustaining its customers. A marketing strategy should also be consistent such that, the marketing message remains the same. In this case, consumers will be certain of the product being sold. Hence, one should choose a certain appropriate market for his business and the marketing channels. In addition, a market for a business should be targeted such that, it is directed to the right customers. Normally, proper...
10 pages (2510 words) Essay
Marketing strategies and principles.
The article I read from this week’s article database was The Principles of Marketing. I thought the article was very insightful. I agreed with the author that in the teaching of marketing students are flooded with theories, concepts, and analytic techniques. The field of marketing took off in the middle of the 20th century. It is amazing how much knowledge scholars have created for this business discipline. The thesis of the author was that since there is so much information in marketing, students are over flooded with information which makes it hard to identify the basic marketing...
5 pages (1255 words) Essay
Developing Protocol and Training for Healthcare Professionals to improve compliance in Patient treatment plans
Descriptive Keywords Physician-patient relationship Patient centered care Patient compliance Patient focused approach Step Two: Library Search Library Source #1 ProQuest Medical Library Keywords Patient compliance in health care treatment plans Persistent Link provided in the database: http:/library.capella.edu/login?url=http:/search.proquest.com.library.capella.edu/?url=http:/search.proquest.com.library.capella.edu/docview/221714386?accountid=27965 Title of the article: “5 Tips for Generating Patient Satisfaction” Author(s) of the article: Pawar, Manoj Date of the article: 2005 Citation...
6 pages (1506 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!