(pdf) Development of the Marketing Strategy

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Business Strategy
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 2............................................................................................................................................3Detailed report for the development of the marketing strategy...................................................3Appropriate tools and techniques to develop a marketing plan.................................................11CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................17
INTRODUCTIONIn the existing competitive and the volatile market place, the business organization'sprofitability and the breadth of the customer base depends on the efficiency of the strategies andpolicies framed by the management. To consolidate larger stream of customer with theorganization the suitable and appropriate marketing strategy is adopted to launch and position indifferent market segments. With the vision to become the customer's first choice by providingthem the quality services at affordable price, the organization comes up with the effectualstrategies and management. The management frames strategies after undergoing the completeinternal and external analysis of the business scenario (Jackson, 2012). The formulation ofstrategies inculcates the various components such as current business situation, financial featuresand requirements, market strategies, projected market share, pricing, position new business, salespotential, promotion plan, creating competitive grid and designing development plan.The report is prepared to elucidate the marketing strategies adopted by the organization tomake the strong relational constructs with the customers and earn greater profitability. For thatpurpose the American multinational consumer goods company Procter and Gamble co. is takeninto account. Head quartered at Cincinnati Ohio, the organization provides the branded productsand services is available in more than 180 countries (Grant, 2010). The existing business plansand strategies of the P & G is reviewed. Further, the complete scenario for the launch of newproduct “packaged ready to eat” is discussed which inculcates the management strategies andframework for integrated marketing plan. Also, with the help of certain tools and techniques theplan is promoted and ways in which the products are innovative and new are explained.TASK 2Detailed report for the development of the marketing strategyP & G is providing the quality products of the recognized brands to the customers aroundthe globe in 180 countries. The group's mission is to give the superior range of products toimprove the customer's lives at every stratum of their personal consumption and the householdworks. P & G is recognized for the quality to prosper the lives of their consumer by integratingthe efforts of shareholder, employees, colleagues and communities (Kourdi, 2010). It hasdistinguished leadership sales, value creation and profit margin but not compromise the qualityof products.3
With well known and trusted brands globally, the group has its strong in varied segmentsof market with its operation in different segments like beauty, grooming, fabric care & homecare, baby care, health care and pet care. P & G has been collaborated with the well known andtrusted brands globally such as Downy, Ariel, Pantene, Whisper, Olay, Pampers are among thefundamental pillars (Mama and Kruger, 2012).Enlisted at the apex place of the ranking for the “Global top companies for leaders” andhas also occupied the place in top fifteen for the world's most admired companies list. With thesuperior understanding of the needs of the consumers the organization has established theprominent position in the market place. P & G group are known as the good corporate citizens.They build the winning brand equities by creating and building the distinguished products,packaging and concepts (Motwani, Subramanian and Gopalakrishna, 2005). It has alsomaintained the strong relational constructs with the customers and suppliers. Established in 1837,P & G touches and improves the lives of 4.4 Billion people around the Globe. With about 300brands, P&G is the family of 1,2700 employees working under the chairmanship of A. G. Lafley.Having 28 global technical centers with the yearly sales turnover of about $82.559 million. Withoperations in 80 countries, the products are available in 180 countries.Business plans and strategies of the organizationPossessing the unique culture with the strong foundation of its purpose, values andprinciples has become successful in capturing the interest and wining the trusts of large stream ofconsumer. The group has experiences the transition in different phases but endured these valuesthroughout the evolution contributing positively in the lives of people (Basili and et.al., 2013).The management of the organization follows certain plans and strategies in order to pursue themission and vision. It fulfills all the responsibilities with respect to all its stakeholders. Thestrategies used by the organization is explained with the following categorization.Consumers: In order to improve the lives of the consumers at every stratum of theeveryday work, the organization shapes the tone of its working and makes the positivecontribution. The organization comes up with the varied range of products in differentsegments to satiate the needs of their customers. The group posses the strong foundationof the integrity, the principles and values. This reflects in all the work, process adoptedand decision taken by them (Zott, Amit and Massa, 2011). As they are very honest in4
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