e practices of competitors and the financial potentials of the customers; the wise use of resources also helped to the limitation of the firm’s expenses and the increase of its profits – a practice used especially for the period from 2008 onwards. The critical assessment of the firm’s policies led to the conclusion that in the near future the update of existing organizational strategies would be required in order for the firm to keep its competitiveness at high levels; innovation in all organizational activities and change of current firm’s culture would be necessarily included in such a project.
The expansion of financial crisis during the last two years led to the limitation of activities of firms operating in various industrial sectors; cruise and vacations industry has been an industrial sector strongly affected by the world recession – under the continuous decrease of their income people at all levels of society had to review all their expenses – the limitation of funds spent on cruises and vacations has been an expected outcome of the current recession. However, it seems that the business environment has been traditionally hostile towards the firms that operate in the specific sector; this view is clearly stated by Morris (1990, p. 317); at a next level, the strategies of the firms that operate in this sector have been often characterized as ineffective, wrongly designed and developed or not appropriately supervised (Bloor & Sampson 2009, p. 711); under these terms, the use of ‘McKinneys seven S factors of Structure, Strategy, System, Staff, Skill, Style (leadership), and Shared Values’ (Lee et al. 2001, p. 49) is often proposed as a successful method in order to develop effective organizational plans; however, other issues, like a firm’s environment, its competitors and the use of its resources would be also thoroughly examined before focusing on the design and the establishment of strategic business policies.
Carnival Corporation & Plc
Carvival UK Corporation & Plc is among the leading firms in the cruise/ vacations industry; the fact that the firm has adopted a dual-listed system for establishing a strong presence in both UK and USA has been found to be quite helpful towards the stabilization of its…
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.
In developing the formal marketing strategy for the organization, the starting point is with the basic market analysis which lets them know of the demand trends in the market, insight into customer’s behavior, and the conditions of the competitive environment through intensive primary or secondary research.
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).
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.
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
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
Using the PEST diagram for analysis, Morrison’s operates in a market environment where commerce is actively promoted by governmental leadership. The UK is a market-driven society and the role of business is to enhance general society and is often supported by legislation which favors the role of business and commercial trade relationships.
Today, Bvlgari has created a superior brand reputation for luxury and the company has diversified to include several different product lines that are inclusive of fragrances, hotels, jewelry and various top quality
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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