Importance of Marketing Strategy in Organizational Success

This assignment delves into the significance of marketing strategy in an organizational context. It discusses how marketing strategy contributes to a company's ability to create and sustain competitive advantage. The text cites various sources, including journals and books, that support the idea that marketing strategy is essential for business success. Key points include the role of marketing strategy in driving sales and profitability, the impact of resource-based theory on marketing strategy, and the importance of organizational learning in adapting to market changes. Overall, this assignment highlights the crucial role of marketing strategy in enabling organizations to thrive in a competitive environment.

RESEARCH
PROJECT

Table of Contents
CHAPTER 1: INTRODUCTION....................................................................................................1
1.1 Introduction...........................................................................................................................1
1.2 Significance of research .......................................................................................................1
1.3 Research Aim........................................................................................................................1
1.4 Research objectives...............................................................................................................2
1.5 Research questions................................................................................................................2
CHAPTER 2: LITERATURE REVIEW........................................................................................2
2.1 Introduction...........................................................................................................................2
2.2 Use of marketing strategies...................................................................................................3
2.3 Necessity of competitive advantage .....................................................................................3
2.4 Interrelationship between marketing strategies and competitive advantage ........................4
2.5 Major tools of marketing.......................................................................................................4
CHAPTER 3: RESEARCH METHODOLOGY.............................................................................5
3.1 Introduction...........................................................................................................................5
3.2 Types of investigation ..........................................................................................................5
3.3 Research design ....................................................................................................................5
3.3 Research philosophy.............................................................................................................6
3.4 Research approach................................................................................................................6
3.5 Data sampling .......................................................................................................................6
3.6 Data collection method ........................................................................................................6
3.7 Ethical consideration ............................................................................................................6
TASK 4: DATA ANALYSIS..........................................................................................................6
CHAPTER 5: CONCLUSION AND RECOMMENDATIONS...................................................14
5.1 Recommendations ..............................................................................................................14
5.2 Conclusion...........................................................................................................................15
REFERENCES..............................................................................................................................16

TITLE – To determine the impact of marketing strategies in order to gain competitive advantage
at marketplace. A case study on Iceland.
CHAPTER 1: INTRODUCTION
1.1 Introduction
Marketing strategies plays an eminent role in growth and success of every business
organisations. It helps people in order to reach their target audiences in a certain time period
time. If a firm has wide range of customers then it can easily achieve its goals and objectives in a
certain time period. There are different types of marketing strategies, such as- business to
business and business to customers which can be adopted a firm so as to gain high competitive
advantage (Sirmon and et. al., 2011). Iceland is the chosen organisation in this present research
project; it is British supermarket chain of frozen foods, including vegetable, fruits and meals. In
addition, the organisation also provides non-frozen grocery products, i.e. meat, diary, dry goods
etc. Iceland Ltd., has covered up almost 2.2% share of overall food market of UK. The firm was
founded in 1970; its net worth is £160 million per year. As it is medium size business entity,
therefore the main objective of the firm is to deliver qualitative and value added food items to
customers in order to attain and retain for long term period.
1.2 Significance of research
The present research is based upon the adoption of marketing strategies so as to achieve
high competitive advantage. Iceland Ltd., uses effective marketing strategies, such as- digital
media, social media, communication channels, internet, web portals, emails, messages etc. It
would assistive in attaining and retaining customers for long term period (Baker, 2014). As a
famous retailer in UK, Iceland Ltd., has to conduct a market research so as to know more about
needs and wants of customers. The firm also have to focuses on quick response on customers'
issues and problems; which can increase their interest towards company. In addition, buyers will
willing to purchase their products and services from that specific brand . Effective promotion
and advertisements on television, radio and newspaper are also helpful in covering high market
share in a certain time period.
1.3 Research Aim
Research Aims are helpful in providing right direction to overall project. It aids
researcher to gain better and effective outcomes to his study. Research aims are decided because
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it represents the main purpose of the research. This aim of this present research is, “To determine
the impact of marketing strategies in order to gain competitive advantage at marketplace”. A
case study on Iceland. Therefore, the case study is based upon the role of marketing strategies to
achieve competitive advantage in target market.
1.4 Research objectives
Research objectives plays a significant role in the whole research project. It helps an
investigator in order to decide what activities have to be done regarding this research project.
Along with this, research objectives are also beneficial in regulation of essential tools and
techniques. Some research objectives are defined as under: -
 To identify the uses of marketing strategies in the context of Iceland Ltd.,
 To determine significance of competitive advantage
 To evaluate the relationship between marketing strategies and competitive advantage
 To recommend marketing tools in order to gain competitive advantage
1.5 Research questions
Research questions are created on the basis of objectives. In other words, it is a set of
direction what is going to be studied in future. Therefore, research question involves overall brief
of research project. Below mentioned are some research questions: -
Q1. What are uses of marketing marketing strategies for Iceland Ltd. ?
Q2. What is the significance of competitive advantage for a firm-level ?
Q3. What is the relationship between marketing strategies and competitive advantage ?
Q4. Recommend, some major tools of marketing.
1.6 Research specification
There are some elements of project management plan which are described as under:
 Cost- Every type of plan requires costing details which will use for making appropriate
report. Real and effective time help makers for continuously flow of research without
facing any barriers and conflicts. There are different things which need for costing such
as Gantt chart, using of IT system and make questionnaire for analysing data.
 Scope- Before starting each project it is necessary for understand what areas will be
effective. This will assist developers in working on project site for determining scopes.
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Gantt chart, work break down structure, correct techniques and methods for analysing
data.
 Time- For any type of project, it is very essential for determining timing which will need
to compete each activity at different levels. Effective scheduling helps in finishing such
project on specific time period. At least 25 days is more than sufficient for completing
this project.
 Risk- When any project begin, there are certain risk which can be involved in research.
Such risks dose not allow such projects for getting completed on time.
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CHAPTER 2: LITERATURE REVIEW
2.1 Introduction
A literature review provides proper information towards what is going to be involved in a
research project. It shows knowledge and critical examination of topic in modern era. A literature
review not an description, even it renders original synthesis of a case study. It is prepared with
the view points of different authors and writers. Along with this, literature review is a
documentation of present research regarding a subject of interest (McWilliams and Siegel, 2011).
It is an interpretation and summary of findings so that researcher can gain better outcomes in an
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effective manner. In this, past research or data is linked with current topic and then take
decisions.
2.2 Use of marketing strategies
In this dynamic nature of environment, business organisations are used different
marketing strategies and policies so as to attain and retain customers. They also adopt it cover up
high competitive advantage in an imperative manner. Furthermore, marketing strategies include
a precise scanning of internal and external environmental factors. In external environment, there
are so many aspects, which can influence growth and success of business in an adverse way.
Iceland Ltd., is prepared a digital marketing plan so as to successfully achieve its goals and
objectives. In this strategy, the firm is focused on following an effective communication process
with customers as well as employees in order to know their needs and wants. According to
Barney, (2012) the firm needs to continuously finding different tactics which can work for
achieving high market growth. There are described certain important benefits of marketing
strategies, such a- increasing return of investment in marketing, enhancing sales and profitability,
improving brand and reputation of the firm. Furthermore, it is essential for the business
organisation to develop an adequate marketing plan and using effective marketing strategies
which are able to compete with external market and deliver high growth and advancement to
company. Marketing penetration, market development, diversification, new product development
are the most common marketing strategies which can be adopted by Iceland Ltd.
2.3 Necessity of competitive advantage
High competitive advantage helps in increasing annual sales turnover as well as new
operating income of the company. It examines the economics of a firm business; this emphasis
on the ability of creating excess on return on capital. Along with this, competitive advantage
allows a firm to earn more returns form its shareholders. For example- if a company has high
competitive advantage then it can easily attract shareholders in order to invest in it. It connects
marketing strategy with essential finance and capital markets for long time of span. Therefore, in
order to sustain benefits from competitors, then Iceland Ltd., has to improve its strategic
management process and prepare relevant plans and policies. With the viewpoints of Santos-
Vijande, and et. al., (2012) provides direction and momentum regarding critical problems and
future opportunities. In this perspective, higher authorities have to create teamwork, render
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learning and build commitment. More competitive advantage also helps in attaining and
retaining to employees for longer period which encourages innovations.
2.4 Interrelationship between marketing strategies and competitive advantage
Marketing strategies and competitive advantage, both are inter linked with each other.
Companies have to focused on improving how to improve its marketing strategies. For example-
Iceland Ltd., can improve its customer service as well as production. In which the prime focused
is on producing qualitative and value added products. This is way, through which any firm can
easily accomplish high competitive advantages as well as sales. According to Sheth, (2011)
marketing strategies is science of business management it formalise the concept of developing,
regulating and monitoring all marketing activities. It permits a company to explore itself it target
market. Whereas competitive advantage encompasses with quality, better customer services and
lower prices. Therefore, it can be said that marketing strategies can create a competitive
advantage; it allows a firm to identify hidden abilities, like, manufacturing, marketing and
designing. For example, a firm can uses core competencies in order to sustain competitive
advantage of a superior reputation.
2.5 Major tools of marketing
There are various marketing tools and techniques which can help a firm to gain
competitive advantage. Below described are various marketing tools and techniques: -
Traditional media – It involves banners, posters, billboards, newspapers, televisions, magazines,
telephonic directories. Traditional media channels also includes paid print advertisements, news
or press releases and commercials. Along with this, the approach emphasis on one way sales and
relies on access to large number of customers. In traditional media, sometimes advertisement
costs are too high so that small companies cannot bear it. But it also helps in providing right
information to customers regarding products and services of the company.
Digital media – In today's scenario, computer software technology is able to reach large group of
customers. According to West, Ford and Ibrahim, (2015) digital media consists with effective
sources of communication as firm can reach maximum number of people for increasing its sales
and profitability. Online partnerships, opt-in email, interactive advertisements on web portals,
mobile marketing, search engine optimization etc. are the main aspects of digital media. With the
assistance of web analytics, internet user's can gain proper information regarding online
activities.
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Social media – Now these days, people are connected with various social media channels, such
as- Facebook, Twitter, LinkdIn. Many business organisations are also interlinked with these
portals. Here, managers can easiy interact with their customers and identify their problems and
issues in an effective manner.
Promotional items – There are certain promotional activities, brochures, audio, video etc.
through which companies can easily reach with their target customers.
CHAPTER 3: RESEARCH METHODOLOGY
3.1 Introduction
It refers with an appropriate plan that is used in order to complete a research project.
Research methodology, helps an investigator to get proper information regarding all tools and
techniques which will be used in research project. It includes interviews, online or offline
surveys, questionnaire etc. In addition, researcher can uses various different research
methodologies in order to make its project more effective and impressive (Gebauer, Gustafsson
and Witell, 2011). It aids people to take suitable actions for accomplishing goals and objectives
of study.
3.2 Types of investigation
There are various types of research, such as – applied research, experimental research,
qualitative and quantitative research. In which, applied research refers with a scientific study that
seeks to solve practical issues and problems; it is assistive in finding solutions. Experimental
research is a controlled and systematic investigation; which is implemented for predicting the
probability of examining selected variables (Schilke, 2014.). Apart from this, qualitative research
is emphasised on the quality of information whereas quantitative research consists with amount
of information. The present research is based on qualitative research as it is more suitable and
best fitted in this research project.
3.3 Research design
Research design is refers to arranging all activities and tasks which are used in research
project. In this case study, the overall data is examined which gathered for achieving better
outcomes. However, an effective research design is also accessible in demonstrating all hidden
issues and problems which can affect the efficiency of research project. The main work of
research design is to obtaining information and provide best solutions towards problems.
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Sampling,operational and observation are the three major parts of research design. At last, the
current research project uses sampling in order to get better future outcomes.
3.3 Research philosophy
Research philosophy is a vast topic and here we will not be discussing this topic in great
details. In business and economics dissertations at Bachelor’s level, you are not expected to
discuss research philosophy in a great level of depth, and about one page in methodology chapter
devoted to research philosophy usually suffices. This part of research project helps in rendering
information with the viewpoints of different people. Research philosophy as two parts, such as-
positivism and interpretivisim. These both the most imperative and useful research philosophies;
it helps research to get appropriate information and data in an effective manner. The positivism
research is used for highly structured sample whereas interpretivisim research philosophy is used
for small samples, in-depth and qualitative investigations. Thus, the present report is based upon
interpretivisim research philosophy.
Interpretivisim research philosophy will enable to assist the researchers with different
types of methodologies and as such avoiding inappropriate and unrelated works. It will also
helps the researcher to be more creative and exploratory in their method of research
3.4 Research approach
It involves certain stages towards data collection. It totally based upon the nature of
research, which kind of approach will be used. Generally, data analysis and data collection are
the two major aspects of research approaches (Cao and Zhang, 2011). Apart from this, inductive
and deductive are the two types of research. But the research project is used inductive research as
it helps in managing all tasks and practices in a systematic way.
3.5 Data sampling
Data sampling can be used in order to demonstrate different trends that are manipulated
in research project. There are two types of research project, such as- probabilistic and non-
probabilistic. Hence, the present case study is study on probabilistic data sampling it ensures that
whether the selected topic are linked with research.
3.6 Data collection method
There are different types of data collection methods, such as- primary and secondary. The
research is used both methods in order to gain better and effective regarding certain topic.
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3.7 Ethical consideration
This part of case study consists to determining all issues and problems which will be
hampered the research work. While conducting this research, investigator has faced various
problems, such as – improper communication, lack of money and time. In order to overcome
with these barriers, he have to improve his communication skills and take more time from
managers. So as to conduct proper research and achieve better outcomes.
TASK 4: DATA ANALYSIS
Q1. What do you think about marketing strategies of Iceland Ltd?
A. Excellent
B. Good
C. Average
Q2. Are you satisfied with products and services of the company
A. Yes
B. No
Q3. Is marketing strategies are helpful in gaining competitive advantage?
A. Yes
B. No
Q4. What are the effective measures used by Iceland Ltd., in order to attract customers?
A. Traditional media
B. Social media
C. Promotional items
D. Digital media
Q5. Which marketing strategies are adopted by company
A. Market penetration
B. Diversification
C. Market development
D. New product development
Q6. Is online marketing is assistive in covering large group of people?
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A. Agree
B. Disagree
C. Don't know
Q7. How many times, are you purchasing products and services of Icealnd ?
A. More than a year
B. Six months
C. Less than 3 months
Q8. Do you think that company needs to make improvements in existing products and services
of the business organisation?
A. Agree
B. Disagree
Q9. Recommend, any suggestions in order to improve marketing strategies?
Q1. What do you think about marketing
strategies of Iceland Ltd?
Frequency
A. Good 10
B. Excellent 25
C. Average 5
Q2. Are you satisfied with products and
services of the company
A. Yes 35
B. No 5
Q3. Is marketing strategies are helpful in
gaining competitive advantage?
A. Yes 30
B. No 10
Q4. What are the effective measures used by
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Iceland Ltd., in order to attract customers?
A. Traditional media 2
B. Social media 20
C. Promotional items 8
D. Digital media 10
Q5. Which marketing strategies are adopted by
company ?
A. Market penetration 8
B. Diversification 5
C. Market development 7
D. New product development 20
Q6. Is online marketing is assistive in covering
large group of people?
A. Agree 25
B. Disagree 12
C. Don't know 3
Q7. How many times, are you purchasing
products and services of Icealnd ?
A. More than a year 30
B. Six months 7
C. Less than 3 months 3
Q8. Do you think that company needs to make
improvements in existing products and services
of the business organisation?
A. Agree 25
B. Disagree 15
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Theme 1 : Effectiveness of marketing strategies of Iceland Ltd.
Interpretation : As per the above research, it has been analysed that 25 participants states
that the marketing strategies of company are excellent whereas 10 says it is good. And remaining
5 states that it is average.
Theme 2 : To know the satisfaction level of products and services
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A. Good B. Excellent C. Average
0
5
10
15
20
25
Column B

Interpretation: As per the research, it has identified that 355 participants are satisfied
with products and services of Iceland Ltd., whereas 5 remaining 5 are not.
Theme 3: Marketing strategies are helpful in gaining high competitive advantage
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A. Yes B. No
0
5
10
15
20
25
30
35
35
5
Column B

Interpretation : As per the above diagram, it can be analysed that 30 respondents are in
favour of marketing strategies are helpful in achieving high competitive advantage. Whereas 10
are not supporting this statement.
Theme 4: Effective measures to attain and retain customers
14
2
20
8
10
A. Traditional media
B. Social media
C. Promotional items
D. Digital media
A. Yes B. No
0
5
10
15
20
25
30
30
10
Column B

Interpretation: As per the above research, it can be evaluated that 20 persons are saying
social media marketing is best tool of attaining and retains customers. Whereas, 10 supports
digital media, 8 are in favour of promotional items. Remaining 2 are says that traditional
marketing is enough.
Theme 5: Types of marketing strategies
Interpretation : According to the above diagram, it has been founded that new product
development is the best marketing strategy for company, as per the viewpoint of 20 customers.
7 people are favour market development, whereas 5 are in support of diversification. And
remaining 8 are supporting market penetration.
Theme 6: Online marketing is assistive in covering large group of people
15
A. Market penetration
B. Diversification
C. Market development
D. New product development
0
2
4
6
8
10
12
14
16
18
20
8
5
7
20
Column B

Interpretation: As per the research, 25 people are agree with this statement, apart 12 are
disagree with this. Whereas 2 does not have any knowledge about it.
Theme 7: Customers are connect with Iceland too many time
16
25
12
3
A. Agree
B. Disagree
C. Don't know
A. More than a year
B. Six months
C. Less than 3 months
0
5
10
15
20
25
30
30
7
3
Column B

Interpretation : As per the above graph, it has been analysed that 30 customers are
purchasing products and services of the company, whereas 7 are using since six months. And
remaining 3 are linked with it less than 3 months ago.
Theme 8: Make improvements in existing products and services
Interpretation: As per the research, it has been concluded that 25 customers thinks that
business organisation have to make improvements in it whereas 15 are not supporting to this
statement.
CHAPTER 5: CONCLUSION AND RECOMMENDATIONS
5.1 Recommendations
According to the case study, it is recommended to managers, they have to develop
effective and appropriate marketing strategies which are best fitted in organisation. It would be
accessible in gaining high market growth and share in a certain time period. Firm has to regulate
a marketing research so as to know needs and wants of target audiences whereas competitors
analysis is also useful in demonstrating future marketing strategies and power of rivals. As
Iceland Ltd., is medium size corporate association, then it has to adopt new product development
strategy; in this firm delivers new and innovative products to its customers in its existing market.
It helps in boost up individuals' interest towards company for improving its sales and
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25
15
A. Agree
B. Disagree

productivity. Apart from this, business organisations also have to provide training and
development assistance to its staff members as they can always produce something unique which
can effectively meet needs and demands of target audiences. With this assistance, corporate
associations can easily achieve high competitive advantage.
All these above recommendations will support a business association so as to gain high
competitive edge in a certain time period. As marketing is an unique and separate entity which
improves brand value of the firm in a certain time period. Although, marketing strategies, assists
to determine target markets and their segments as well. It will provide a better understanding of
competitors and their strategies and likely responses. These are few areas which get uplift by
adoption of effective marketing strategies, such as-
 Far higher levels of price competitions
 An increasing emphasis upon and need for customer service
 A demand for higher levels of product quality
 Higher rates of product innovation
 Changing and less predictable customer needs
5.2 Conclusion
As per the above mentioned report, it has been analysed that marketing strategies plays
an important in order to achieve high competitive advantages. Firm needs to adopt effective
marketing strategies and activities so as to achieve their goals and objectives in an effective
manner. In addition, it will also gives strengthen to sales and profitability of the firm.
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REFERENCES
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Online
Importance of a Marketing Strategy in an Organization, 2017. [Online]. Available through:
<http://smallbusiness.chron.com/importance-marketing-strategy-organization-
65269.html>. [Accessed on 16th November 2017].
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