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Evaluation of Marketing Strategy
The study is based on the analysis of marketing strategies related to maritime industry…
Drivers in favour of monetary impact are generated by SWOT analysis in order to prepare the strategies for port industry. Therefore, the use of SWOT analysis upon strategic planning process will be highlighted for maritime industry. Marketing Mix The elements of marketing mix can be grouped into four primary variables i.e. ‘Price’, ‘Product’, ‘Promotion’ and ‘Place’. The number of P’s can be extended i.e. ‘People’, ‘Process’ and ‘Physical Evidence’ to describe the service sector as well. Each element of marketing mix is inter-related with another. Promotion depends on the nature of products or services. Through the process, it reaches the customer and it influences the pricing of the product. Marketing mix helps to attain organisational objectives. Marketing mix has to be prepared in such as way that it fulfils the customer satisfaction. Place is a key factor affecting port industry. From the site of the port authority offering locations to transport companies and industries, the supply characteristics require to be hand in hand with the demand needs i.e. to be competitive with other ports. The product once manufactured, packed, priced and promoted is ready for customers. It consists of distribution channel. Number of channels directly influences the price of the product. Source: (NOS, n.d.). ...
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