Got a tricky question? Receive an answer from students like you! Try us!

Lockheed Martin Aeronautics Companys Marketing Practices and Strategies - Term Paper Example

Only on StudentShare
College
Term Paper
Marketing
Pages 8 (2008 words)

Summary

The study seeks to understand how the company applies marketing strategies and practices in its operations. It entails the introduction of the company, its brief history, and areas of operations. The study analyses…

Extract of sample
Lockheed Martin Aeronautics Companys Marketing Practices and Strategies

How the company applies quantitative and qualitative research in its bid to provide its customers with value is also a subject of discussion under this study. Through an analysis of marketing practices and strategies applied by the company, the study indicates how the company has emerged as the largest defense contractor. The study focuses on all the segments of the market that the company serves, giving examples of products and services that the company provides to the respective market segment. Through this study, an understanding as to the source components that makes up the annual revenues of the company is created, with a special emphasis on the role of contracting as a marketing strategy and practice in subscribing to the revenues of the company. A conclusion and recommendation are also given.
This is a company based in USA, formed by a merger of two companies, Lockheed and Martin Marietta in 1995. The company ranks as the world’s largest defense contractor, though it offers a range of product and services in the market. The company has diversified its operations to engage in various market segments, among them aerospace, defense, advanced technology and security (Carl, 2010).Lockheed Martin Aeronautics Company Palmdale, is the location where the company’s Advanced Development Programs division is based. This is informally referred to as Skunk works (John, 2009). The company is involved in the research, design, development, and manufacture of products for use in the fields of defense, homeland security, information technology, and space (Norris, 2011). On top of products provision, the company also provides services in the fields of engineering, manufacturing, technical, and logistics.
Lockheed Martin Aeronautics Company has suitable marketing strategies. Having been able to diversify its operation in many segments of the USA economy, ...
Download paper
Not exactly what you need?

Related Essays

Marketing Strategies
The main purpose of this essay is to develop an effective marketing strategy for Global Bikes Co. considering various significant aspects. The different major aspects include the identification of the target market, setting marketing objectives and the facets of marketing mix strategies of Global Bikes. Section 2: Target Market The target market for Global Bikes can be identified by executing certain market segmentation variables on the basis of four major categories that include demographic, psychographic, geographic and behavioural environment. The important market segmentation variable of…
11 pages (2761 words)
Marketing Strategies
It also highlights how Phil addresses the gaps that are present in products provided and customer expectations. Table of Content Executive Summary of the Marketing Plan 5 Company Introduction 5 Mission Statement 6 Branding 6 Pricing 8 Distribution Plan 10 Integrated Marketing Communication 11 Customer Satisfaction Plan 11 Marketing strategies 12 SWOT 13 Strength 14 Opportunity 14 Differentiation strategy 15 Be a leader of follower 15 Macro Environmental Issues 16 Significant Business Trends 16 Marketing Plan 17 Reference 21 Executive Summary of the Marketing Plan Phil has been planning to…
18 pages (4518 words)
Marketing strategies
Implications of this change on marketing strategies, specifically, major shift from traditional ways of marketing and promotion to major usage of online social media like facebook, tweeter and other popular social networking sites will also be analysed in this paper. Therefore, this study includes a complete package of changing business environmental related issues and its effects and implications on marketing strategies. Introduction Continuous changes in various factors of macro business environment are the most important areas of global businesses. Business organizations keep in-depth focus…
12 pages (3012 words)
Don Martin Limited Marketing Analysis
The business has attempted several strategies to increase its profits, including increasing the prices of its products, increasing production lines, and promoting the business through newspapers and radio. Due to these pitfalls, marketing strategy is exceptionally paramount for the success of the business (Pearce and Hardy 379). Most of the customers in this business are low income earners. They also live within the business jurisdiction. Due to their limited income, these customers require low priced products. To attract more customers from the area, Don Martin limited has decided to open…
7 pages (1757 words)
Marketing Strategies
Although they seem to be of no value, they really attract and maintain clients. Compass Company provides food nutrition lessons or advertises to their esteem customers. This is like a bonus but it really helps to attract and maintain clients with nutrition problems like the obese and diabetics among others. Sedoxe provides business solutions to the online communities as a bonus to their services. This compels majority of people or companies to regularly visit Sedoxe company’s blogs or websites and in the process they learn about the company. Inseparability is the fact that a certain demand…
4 pages (1004 words)