The research could be casual, descriptive or exploratory in nature according to the needs of the organization. After the analysis is done the organization can move on to developing a viable, long term strategy for the organizations’ marketing efforts. The main focus of the strategy is to allow for segmentation and targeting of the desired customer base and deciding on the value proposition that they would be offered in return for becoming their customers. The basic challenge of strategic marketing is, therefore, to manage marketing intricacy, customer and stakeholder expectations and to reconcile with the effects of a varying atmosphere in the context of certain resource availabilities. Strategic Marketing enthusiasts often adopt management concepts to their unique needs. As the basic purpose of both management and marketing is to explore the relationships an industry or organization has with its environment, some of the widely used management tools and frameworks have been adopted for the marketing process. These would include the industry analysis techniques of Porter and the portfolio matrices (Fahy, Smithee, 1999, p1). Strategic Marketing Management is a field of study in which due consideration is given to understanding the different parts of the marketing strategy and their integration framework for defining and evolving the market which ultimately helps the marketing manager into transforming concepts and theories into practical strategies and action plans for any organization. In Strategic Marketing Management the focus is on the ‘3 Cs’ of the external environment. The competitors, customers and the channel form the three pronged focus of the firms efforts. By searching and providing better solutions to their customers needs and to cater to their demands is the first step for any the organization in designing a product and related marketing strategy. The competitors are important because ultimately they will impact the consumers buying decision and the overall industry profitability, the strategy has to be such as to differentiate and better the position of the company in the eyes of the consumer from the competitor. Finally, the channel or the supplier side of the equation deals with the processes of manufacturing or producing a good for the market and the people that will have to be dealt with during it all. An organization has to be on the lookout for any opportunities or threats which exist because of changes in the 3 Cs environments, and their marketing strategy has to be strong and flexible enough to adept to these changes in a beneficial way. Like any other process, marketing is also subject to the changes in the technological, lifestyle, social and economical trends. Even more so because marketing, ultimately, is designed to and catered for the needs and wants of the people and these depend largely on the time frame and environmental and psychological factors. In the 21st century there are some trends which have slowly become a stronghold in of the modern markets and for the prudent organizations, their strategy has to be managed to accommodate these trends. There is a cynicism prevalent in today’s consumer which makes them check and double check the claims that a company is making about their product or service. They are self conscious about the decisions they make, ethically motivated, passionate about eco friendly practices and generally more
The effect of Technology on Strategic Marketing Management The Marketing strategy of an organization is what allows it to focus its limited resources to capture its desired target market while countering and taking advantage of its internal and external environment…
In order to sustain as a feasible establishment, it is necessary for the firm to keep on the practice of building and confining value with time. Inside this structure, the plan through which the value is built on a consistent basis is known as the Marketing Strategy of the specific firm.
esearch paper is concerned with the study of strategic operations of Cafe de Coral which is a group of fast food restaurant. Chains of fast food restaurants are owned as well as operated by Cafe de Coral. The fast food group consists of various brands such as The Spaghetti House, Oliver’s Super Sandwiches, Cafe de Coral, Ah Yee Leng Tong and many others.
In addition, the company began the use of promotions in a bid to understanding the needs of the consumers in this market. The relationship that is built between the company and the consumers is basically based on the quality of products that are brought into the market with the company assuring the consumers of the best quality of products at reasonable prices (Hulbert 2007).
Being able to tap this market will help Samsung to be able to increase its market and also to have a good market where it can use price skimming. This will however require planning so as to mitigate various market entry obstacles. Introduction Situation analysis Mission statement Samsung has its mission very well defined which says that Samsung “will devote our talent and technology to creating superior products” In this regard, Samsung will endeavour to always deliver the best products by harnessing its talent and experience to develop the best products for consumers.
The flexibility of portfolio analysis tools enables managers to apply it to products, brands, and strategic business units. It should be noted that portfolio analysis aids a company in achieving main goals-maintain a balance portfolio and develop sustainable competitive advantage.
A number of the research and studies have specifically linked customer perceived value in the search for new approaches to develop and sustain superior competitive advantage by business organizations who want to survive and take advantage of the highly globalized trade
Some of these can be possessed (e.g. apparatus, machinery and plant, trademarks, retail outlets) while different assets can be acquired through associations, joint wanders or just supplier courses of action with
The author states that strategic marketing involves setting up of mission, good market research and identification of the marketing objectives the organisation wishes to attain. Strategic marketing is a key component that greatly supports the corporate strategy, identifying an important factor that best suits it.
15 pages (3750 words)Essay
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