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Product Development and Pricing Strategies
Pages 11 (2761 words)
Marketing Name of the Student University Table of Contents Table of Contents 2 Introduction 3 The Nine-Step Model 4 Identify the problem 5 Issues 5 Opportunity 6 Stakeholders Perspective 6 Framing the correct problem 7 The vision of the company 7 Identification of the alternatives 8 Evaluation of the alternatives 9 Identification and assessment of risk 10 Internal and External Factors 10 Decision making 11 Framing and implementing the solution 12 Alliance 12 Internal Marketing 12 Evaluation of results 13 Conclusion 13 Introduction Increasing competition in today’s globalised economy has put the organization under the pressure of designing effective marketing strategy.
Marketing strategy provides the best opinion to the organization regarding how it can use its resources and skills in the market place so that it can run the business profitably (McDonald, 2007). The marketing strategy is mainly concerned regarding the four P’s and the objective of the organization. Flexibility in the marketing strategy creates a positive influence on the performance of the organization (Pride and Ferrell, 2010). In a competitive economy successful marketing is all about customer focus, positioning and attaining competitive success (Lancaster and Massingham, 2010). Classic Airlines is the fifth largest airline in the world. It has a fleet of over 375 jets that flies over 240 cities. Classic Airlines has about more than 2300 flights flying daily. It has been operating in the airline industry for more than 25 years. It has employee strength of more than 32,000. In the year 2004 the company has recorded earnings of $10 million and sales figure reached $8.7 billion. ...
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