Marketing Strategies and Business Sustainability: A Critical Analysis

Abhishek 1033434
Critical analysis
Marketing Strategies and Business Sustainability

Abhishek 1033434
Introduction
Sustainability in business depends on the business activities that the company uses to address its
business challenges1. The basis of this discussion is to unveil the business environment as a
marketing system with reference to different factors and forces that influence a firm’s growth
and development. There are external and internal elements in this process. Building and
maintaining successful customer, supplier, competitor and stakeholder relationship takes
strategy. The contemporary business environment comprises of the Micro and Macro
environment, which influence the business trend. The external or macro system of a marketing
environment features the following elements:
 Economic
 Competitive
 Technological
 Social and Cultural
 Consumer Behavior
Marketing Strategies by Segmentation
Strategic development of any business places emphasis on the target market. This involves the
customers because they are the most influenced by the business. The classification of buyers of
goods or services into different segments is strategic because it captures customers in different
categories. Such groups share characteristics based on the knowledge, individual interests and
marketing needs. This is why a small business would design customized strategies with the target
1 D. Thomas, Katrin, M, and Thomas, D. "Clarifying the meaning of sustainable business: Introducing a typology
from business as usual to true business sustainability," Organization and Environment, vol. 29, no. 2, 2016.

Abhishek 1033434
customer in mind for customer satisfaction. Segmentation allows companies to build
relationships and loyalty in customers by catering for their needs.
A company is at liberty to use numerous variables for segmentation but common categories are:
a) Demographic Strategy based on gender, income levels, age, education, occupation, the
socioeconomic, family set up, religious affiliation, language, culture and national origin.
The use of children in global adverts is due to shared cultural values focusing on the
family.
b) Geographical Strategy featuring the use of locational factors in targeted communication.
This explains why companies invest in regional marketing strategies. Companies take
advantage of the shared neighborhood climate, towns, culture and landscape for
marketing ideas.
c) Psychographic Strategy, which divides the customers market according to values,
lifestyle preferences, social status and personality. People’s interests influence their
attitudes and buyer opinion on products and services.
d) Behavioral Strategy emphasizes on the customer needs and how they react to the needs.
The customer loyalty to a particular brand encourages repeat purchases hence companies
develop strategy designs to lure first-time customers. Customer preferences also
determine additional choices hence new segment strategies.
e) Mass Marketing or undifferentiated marketing ignores segments but develops a single
offer with marketing plans that cater for everyone. This approach influences a larger
market and provides a wider exposure to the product for maximum number of sales. This
makes it efficient and cost effective because one marketing team executes a marketing
mix plan on only one product. This tactic is ideal for widely consumed products like