Strategic Marketing Management - Essay Example

Only on StudentShare

Extract of sample
Strategic Marketing Management

However, it should be noted that portfolio analysis tools should be applied with caution as each of the individual technique has limitations. These are further elaborated on the discussion of the different tools. The three main portfolio planning tools are The Boston Consulting Group Growth-share Matrix, General Electric Market Attractiveness Competitive Position Model, and Shell Directional Policy Matrix.
The Product Life Cycle (PLC) as a portfolio analysis tool highlights four stages in a product's life cycle-introduction, growth, maturity and decline. This technique stresses that products life is limited and each stage in the life cycle offers different levels of potential gains. Thus, companies should employ the right strategies to maximize cash flow. PLC is valuable as a marketing tool because it emphasizes product termination, growth projections, different marketing objectives and strategies in each stage, product planning, and dangers of overpowering. However, it is also recognized that PLC is limited as each product follows a unique life cycle (e.g., fads and classics), PLC is the result of marketing efforts and not the cause, the time span of each stage is unpredictable, and misleading objectives and strategies.
The PLC can always be a good tool choice for compani ...Show more

Summary

Auditing tools are techniques which aid managers in understanding the current situation of a company to be able to come up with strategies that will enable them to attain company goals. Auditing tools significantly bridge the gap between where the company "is" and where it "wants to be." Portfolio analysis tools are auditing tools which are used to identify and evaluate the various business makeup of a business entity…
Author : jmarvin
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Strategic Marketing Management"
with a personal 20% discount.
Grab the best paper

Related Essays

Discuss and critically assess the assertion that the role of marketing
Abstract: In this report there has been an attempt to explain if there is a "new wave" concept of marketing (as compared to strategic planning) which has boiled down to something perhaps more practical yet narrower than the very broad, conceptual philosophy marketing is based on.
8 pages (2000 words) Essay
Strategic Management: Moss Adams
In the field of accounting, Moss Adams wishes to maintain its position and to become the number one consulting firm which seeks to serve the wine industry by offering enhanced and improved services in order to meet the needs of the industry. The strategic experts of Moss Adam have the responsibility to design and execute the strategic management procedures and measures.
5 pages (1250 words) Case Study
Strategic Marketing Management
rly defining a business organisation’s goals and objectives while assessing its resources and strengths in order to formulate and execute strategies. Strategic management also involves evaluating the progress of strategy execution as well as making the necessary adjustments
13 pages (3250 words) Essay
Strategic Marketing Management
The report is to be submitted to the Chief Information Officer (CIO) of the Red Hat Inc. in order to make a comprehensive research plan in the light of the present report. The present
12 pages (3000 words) Essay
Strategic marketing management: context
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
8 pages (2000 words) Essay
Strategic Marketing Management
The group was founded in the year 1968 and its first restaurant was opened up in the district of Causeway Bay of Hong Kong in the year 1969. At present, the group has over 540 retail outlets
8 pages (2000 words) Essay
Strategic Marketing Management
A tactical strategy can be developed on the basis of a comprehensive situational analysis. It is tremendously important that the strategy that is developed is harmonizes with the external environment and complements the external environment. Toyota Corolla in
8 pages (2000 words) Book Report/Review
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT