Aligning Marketing Initiatives with the Company's Mission and Vision - Research Paper Example

? Examine an Organization/Company That Product, Program or Service That Innovated From a Global Perspective Introduction The factors of increased globalization and the rising competitiveness in the financial market are motivating the organizations to adopt effective marketing initiatives in order to compete in the financial market with the rivals. In relation to this aspect, this paper intends to discuss the importance of aligning marketing initiatives with the organizational mission and vision statements. It also tends to describe the internal and external assessment activities which are performed by different organizations such as Apple Inc. Furthermore, the paper also aims to discuss the promotional mix and pricing structures of the organization i.e. of Apple for optimal exposure of their various products and services (McGraw Hill, 2010). Importance of Aligning Marketing Initiatives to the Organization's Mission and Vision The importance of aligning marketing initiatives to any organizations’ mission and vision statement leads towards sustainability of an organization. This is because both mission and vision statements of a corporation represent the organizational goals, performances and operations. In general, another importance of aligning marketing initiatives is that it supports the organization to compete with its competitors and helps to identify the future trends of business market (McGraw Hill, 2010). With regard to the aspect of aligning marketing initiatives to any organizations’ mission and vision statement, it has been viewed that Apple adopts significant marketing initiatives or strategies in order to remain competitive in this contemporary financial market. One of the effective marketing initiatives of Apple aligning with its vision statement is launching its different products such as computer systems, mobile phones, iPods and iTunes among others for its customers targeting the group of students and younger generations (United States Securities and Exchange Commission, 2009). Analysis of Internal and External Assessment Activities Internal assessment activity can be defined as the interior performance of an organization which helps to control the entire business procedure through analyzing their various strengths as well as weaknesses in different fields. The assessment of internal business activities supports an organization to launch new and innovative products in the business market by analyzing the strengths and weaknesses along with recognizing opportunities and crucial threats (State of California, 1998). External assessment activity can be defined as the process of identifying the opportunities prevailing in the business market and formulating effective strategic plans for the motive of accomplishing expected business objectives. The activity of external assessment includes certain major factors like legal, economic, social, political and governmental forces (Australian Government, 2002). According to various researches, the activities relating to both external as well as internal assessment ultimately help the organizations to meet with its organizational goals effectively. In this regard, it has been observed that Apple performs analyzing its internal along with external assessment activities in order to achieve its desired business targets. In relation to the activity of internal assessment, Apple took certain significant initiatives in order to enhance its operational procedures by introducing useful training sessions for its entire workforce. Moreover, relating to external assessment activity, Apple establishes and maintains effective relationship with its different stakeholders in accordance with various business norms and standards (Apple Inc, 2012). A Brief Idea of the Resources to Assist In Analyzing the Competitive Marketplace The various resources which assist the organizations in analyzing the competitive marketplace include annual reports, market strategies, governmental reports as well as policies, market statistics and customer survey. The resource i.e. annual report reveals the information about organizational financial performance. The resource of market strategy represents the ability of the organizations to perform accordingly towards changing trends of business market. The governmental reports and policies denote the performances of an organization in accordance with the national or international business regulation. Market statistics imply about recognizing the demands of the products. The resource of customer survey supports the organization to understand the demands and the preferences of the customers. It has been viewed that Apple considers the aforementioned resources which assists it in analyzing the competitive marketplace to compete with its rival and sustain in this competitive business market (Apple Inc, 2012). Recognition of Resources to Assist In Analyzing the Target Population In order to analyze the target population, the organizations such as Apple consider certain valuable resources which include geographic, demographic and psychographic factors. Geographic factor represents the location of the customers. Demographic factor denotes the statistical study of living populace or the customers. Psychographic factor implies the lifestyle and personality of the customers (Bloom, 2005). In this similar context, it has been noted that Apple analyzes its target population on the basis of the aforementioned factors (Lazarus Research Group, Inc., 2006). A Brief Overview of the Promotional Mix and Pricing Structures The aspect of promotion mix can be defined as the execution of certain important promotional methods for a particular product. In this regard, the various promotional methods include direct marketing, advertising campaigns and personal selling among others. The feature of promotional mix is mostly used by different organizations in order to promote their products and increase their sales (The Chartered Institute of Marketing, 2009). In relation to this particular aspect, it has been observed that Apple employs certain significant promotional tools for promoting its different products along with raising its product sales. The various promotional tools which uses by Apple are online websites, magazines, advertising campaigns and direct marketing (Malviya, Sing, & Vijan, 2012). The aspect of price structure denotes the details of various prices of the products as well as the discounts which are offered by the organizations to the customers. In this regard, it has been viewed that Apple often announces significant discounts relating to pricing structure in order to increase their product sales as well as to attain substantial profits (Ingram, 2012). Conclusion The different business organizations feel the necessity of aligning marketing initiatives in order to sustain in this competitive business market. Moreover, the organizations perform the assessment of their external and internal activities for the prime objective of competing with their major competitors. In this regard, Apple adopts significant business strategies and assesses its internal along with external activities in order to attain its expected business goals. Moreover, Apple uses attractive promotional methods such as online websites, advertising campaigns and magazines in order to promote its products and increase sales. The corporation also utilizes comprehensive pricing structure with the intention of competing with other market leaders. Reference Apple Inc. (2012). Supplier responsibility at Apple. Retrieved from http://www.apple.com/supplierresponsibility/ Australian Government. (2002). Aligning your marketing strategy with the broader vision, mission and goals of your organization. Retrieved from http://www.australiacouncil.gov.au/__data/assets/pdf_file/0014/1904/01_part_1.pdf Bloom, J. Z. (2005). Market segmentation a neural network application. Annals of Tourism Research 32(1), pp. 93–111. Ingram, S. (2012). Apple could price iPad Mini at $329. Retrieved from http://www.gottabemobile.com/2012/10/22/apple-could-price-ipad-mini-at-329/ Lazarus Research Group, Inc. (2006). Elements of a successful business plan: Market segmentation. Retrieved from http://www.lazresearch.com/downloads/market_segmentation.pdf Malviya, M., Sing, A. P., & Vijan, A. (2012). International business marketing mix of Apple Inc. Retrieved from http://www.slideshare.net/MohitMalviya/marketing-mix-of-apple-7704500 McGraw Hill. (2010). Competitiveness, strategy and productivity. Retrieved from http://highered.mcgraw-hill.com/sites/dl/free/0073525251/886181/stevenson11e_sample_ch02.pdf State of California. (1998). Strategic planning. Retrieved from http://www.cdpr.ca.gov/docs/dept/planning/strg_pln/spguide.pdf The Chartered Institute of Marketing. (2009). Marketing and the 7Ps. Retrieved from http://www.cim.co.uk/files/7ps.pdf United States Securities and Exchange Commission. (2009). Apple Inc. Retrieved from http://files.shareholder.com/downloads/AAPL/2146375044x0xS1193125-09-214859/320193/filing.pdf Read More