Development and Implementation of Marketing Strategies

Running Head: Development and Implementation of Marketing Strategies
DEVELOPMENT AND IMPLEMENTATION OF MARKETING STRATEGIES
Name:
Institution:

Development and Implementation of Marketing Strategies 2
DEVELOPMENT AND IMPLEMENTATIONS OF MARKETING STRATEGIES
ASSESSMENT TASK 1
QUESTION 1
Outline developing organizational values.
• Evaluating the culture of the organization- the first step is to identify and benchmark the
current business culture by looking at the stand of the company in reflecting the its brand
• Assessing the strategic business plan in perseverative of where the company will be in
5years
• Identify the culture required in achieving the strategic business plan
• Identify conspicuous values that originate from the above in regard to the company.
Choose the most appropriate and define them accordingly
• Finally incorporate the values into the company’s operational activities
QUESTION 2
What is the purpose of a SWOT analysis in a strategic planning process?
The purpose behind a Strengths, Weaknesses, Opportunities, and Threats structure is to get
managers and key decision makers in a firm to consider everything that could possibly affect the
accomplishment of another undertaking. Failure to consider a key strength, weakness, threat or
opportunity could lead to poor business decisions
QUESTION 3
Discuss each component of a SWOT analysis.
Strengths
According to mindtools(2017), what determine the strengths -- what your business has going for
it -- and then continue to use these strengths. This could be your coffee shop's location at a major

Development and Implementation of Marketing Strategies 3
intersection or its location in a power center. If your carpet-cleaning company uses the latest
equipment; if the building that houses your salon is brand new; or if employee morale is high at
your burger joint -- these are also strengths. Of course, the quality of services and products
themselves are also powerful tools.
Weaknesses
Take an honest, hard look at what's not working, and figure out what you can control. This could
be your location on a little-traveled stretch of highway; having outdated equipment that often
breaks or being located in an old facility that has zero curb appeal. Additionally, if you have
unreliable, unmotivated staff, who exude negativity that carries over into your customers'
experience -- this is a huge weakness. Whatever makes this list, find a way to stop the negatives,
whether it means investing in new machinery, doing a remodel or creating a strategy to boost
morale.
Opportunities
Apply your strengths to positively exploit any untapped possibilities. If your nonprofit is
respected within the community, ask school teachers, families or healthcare patients who have
benefited from its efforts to contribute video or written testimonials that can be used in
marketing materials. The same can be done with virtually any industry, ranging from service to
retail. Harness an enthusiastic employee attitude by encouraging your employees to remember
regulars' names and orders, or to engage in brief conversations with their regulars while they wait
for their coffee or as they pay for their facial.

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Threats
Some variables are beyond your control. You can't do a thing when a big-box grocer opens a
block away from your family-run market, or when coffee trends suddenly shift toward bottled,
ready-to-drink varieties, which renders your espresso machine less useful. You can examine,
however, how your marketing and social media options could increase your visibility or you
could ask your beverage distributor as to which products are starting to pick up steam elsewhere
so that you can stay abreast of the current popular rage. Developing strategies in advance, which
minimize the impact of industry changes, will help you defend against competing forces, if or
when that need arises
QUESTION 4
What is the purpose of a PESTLE analysis in a strategic planning process?
the purpose PESTLE analysis, which is a matrix with six areas political economic social
technological, legal and environmental factors, unites and compares all the critical actualities
important to settle on decisions and fabricate efficient strategies that will enable firm to achieve
its objectives and steer its employees on the right track.
QUESTION 5
List four examples of questions you may ask when conducting a PESTLE analysis?
what are the trading policies present in the business environment?
How much market share is affected by globalization?
What are the consumer taste and preferences?
how is technology importance in dominating the market?