Role of Marketing in Competitive Business PDF

MARKETING IN PRACTICE

Table of Contents
Introduction and Background..........................................................................................................2
Role of Marketing in Competitive Business Context......................................................................2
Literature Review............................................................................................................................3
Key Factors in Business Analysis....................................................................................................4
PESTLE ANALYSIS..................................................................................................................4
Porter's five Forces......................................................................................................................6
SWOT Analysis...........................................................................................................................7
Critical Analyses..............................................................................................................................8
Challenges for Companies Entering a New Market....................................................................8
Opportunities for Companies Entering a New Market................................................................8
Recommended Marketing Strategies...............................................................................................9
Conclusion.....................................................................................................................................10
References......................................................................................................................................12
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Introduction and Background
Companies with unique marketing policies understand the behaviour of the market and its
customers and are able to produce products and services that can fulfil the needs of the
customers. Effective marketing policy includes distribution promotion pricing and reaching to
the potential customers with uniqueness of the product and services. In today's world, no
business organisation would be able to survive or sustain in the market without proper planning
of effective marketing. Development growth and economic triumph of an entity depends largely
on effective marketing (Armstrong, Adam, Denize and Kotler 2014).
In this study effective marketing strategy of the three big International American carriers named
Delta airlines American airlines and United Airlines will be discussed. These are line Agencies
have earned a huge reputation and brand value in the market over the years as they control 80%
of transatlantic seats. but now the market has become very competitive as some Norwegian and
other airline companies are entering the market providing lowest fare on board experiences to the
customers. The fare provided by these Norwegian airline agencies is 5 times lower than and the
fair provided by International American airline agencies. In the market customers always have a
tendency to switch to other organisation which are providing services at cheapest fare. The sales
of these three big International American careers has been dropped. In this study the learner will
discuss how these three big International American Agencies should adopt proper marketing
strategy in order to maintain the brand value and reputation in the market.
Role of Marketing in Competitive Business Context
Marketing in competitive business is not a part of business activity rather it would be better to
say that marketing is the business. The term marketing includes all types of business activity for
example promotion advertising the product and the process of making the unique product and the
services in order to fulfill the needs of the customers (Gebauer, Saul, Haldimann and Gustafsson
2017). The main role of the process of marketing in competitive business is consumer research
through advertising the products and services to the customers and reaching out to the customers
in order to get the full view of customer’s behavior in the market. Consumer research is the
process to identify the need for a products and services in the market and to monitor the sales
pattern of the similar products closely. Effective marketing policy should focus on reaching out
to those potential customers and making them aware of the new or modified products and
services and making them purchase their offerings. International American airline agencies-
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Delta airlines American airlines and United airlines should focus on the strategic marketing
policy in order to regain their brand value.
Literature Review
According to (Jr et al. 2015), the term marketing includes all types of business activity for
example promotion advertising the product and the process of making the unique product and the
services in order to fulfill the needs of the customers. According to (McDonald and Wilson
2016), the process of marketing includes all kinds of business actions for example planning and
fixing a price and promoting or advertising the products and the services to the customers or to
the potential customers and the distribution process. Marketing is a kind of business action that
delivers to the living standards of a community or a group of population. Many experts have also
given a broader definition of marketing and defining marketing as an art of practice through
which an organization is able to provide the value of goods and services to the customers. Some
experts would argue that the marketing is an effective strategic practice and art of selling the
products to the consumers. According to (Gebauer, Saul, Haldimann and Gustafsson 2017), an
organization undertakes the process of marketing in its business operation in order to create
deliver or communicate with the customers through selling a new or modified product. The
process of marketing is done in order to create a huge customer base and to reach to the potential
customers which ultimately benefit the organization and its shareholders. Companies with unique
marketing policy understands the behavior of the market and its customers and are able to
produce products and services that can fulfill the needs of the customers. In today's world, no
business organization would be able to survive or sustain in the market without proper planning
of effective marketing. Development growth and economic triumph of an entity depends largely
on effective marketing. According to Pearson (2016), the main function of strategic marketing is
to build an awareness of the products and services among the customers and making the
customers more knowledgeable about the merchandise which would ultimately lead to an
increased sale.
In today's world market has become very competitive and same products and services are offered
by many business entities. According to Armstrong, Adam, Denize and Kotler (2014), there are
some basic goals of marketing for example how a product or a service offered by a business
organization is different from the others, what qualities and features of a product or service
makes it superior to those product or services offered by other business organization, why the
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