Marketing Strategy of Affliation
Added on 2021-06-17
13 Pages3629 Words157 Views
Running Head: MARKETING STRATEGY1MARKETING STRATEGYName of StudentInstitution Affiliation
MARKETING STRATEGY2IntroductionMarketing strategy is generally a long-term and forward-oriented scheme that is intended to design a game plan for the business organization in reaching out to the people and making them prospective customers of the service or product that they offer. The fundamental purpose of a marketing strategy is to achieve a competitive and sustainable advantage. The marketing will help the business organization in identifying the target markets as well as the value proposition that can be offered on the basis of analyzing the best market opportunities. It also involves the vital marketing information and also the information regarding the intended customers and other elements that are high-level. All these are intended to improve the value proposition of the business organization (Arnould & Wallendorf, 2014).A strategic business unit (SBU) is a unit of a business that is fully functional and has got its individual direction as well as vision. It generally carries out its operations as a separate identity and is very vital to any department of an organization. It is in charge of a given range of activities or products. It gives a report to the main headquarters of the organization about the status of its operations. In most cases, it is large enough to have its own support functions that enable it to carry out its duties efficiently. A strategic business unit brings a number of benefits to an organization and has therefore in many cases been adopted by many business organizationsand other large companies (Barney & Hesterly, 2010). This article discusses the roles that a strategic business unit performs to an organization as well as the requirements for implementing a better and achievable marketing strategy. A specific organization will be picked to help discuss these factors and their influences on the organization.
MARKETING STRATEGY3The organizationThe organization selected for this study is the LG Electronics Australia Pty Limited Company. This company deals with all household electrical appliances, mobile communication handsets and information systems equipment within Australia. They sell mobile phones such as tablets, smartphones, smartwatches as well as other mobile phone accessories; television and home entertainment systems that include home theatre and audio systems, Blu-ray players and DVD players; and home appliances such as fridges, kitchen appliances, dishwashers, washing machines, vacuum cleaners etc. all these products are produced at different units within the organisation. Each unit that produces each category of items operates under different strategic business units that operate differently as separate entities in charge of manufacturing the specific product that they are involved with (Pearce et al, 2014).The strategic business unit (SBU)From this organization, we select the mobile phones and accessories as our strategic business unit within this organization that is able to operate as a separate entity as well as makes decisionson how to manage the products and services that they deal with. In this case, this strategic business unit deals with the manufacture and sales of all mobile related accessories. This business unit has been operational for over three decades within the country to provide mobile phones and related accessories and has never disappointed. They manufacture and sell mobile phones, such as smartphones, wearables, and smartwatches, tablets, mobile phones batteries, chargers, earphones etc. This business unit is therefore responsible for determining its own marketing strategy that will enable the product that it handles to meet its intended recipients as well as meet the main objectives of the organizations (Burgelman et al, 2008). This specific business unit is able to exercise responsibility as one of the foremost roles of SBU. It also
MARKETING STRATEGY4enhances accountability, accountancy, independence, and efficient funds allocation since this unit will be operating on its own.The marketing strategy directionThe main marketing strategies that are involved in this strategic business unit is all about allowing a better interaction with the customers as well as also getting the employees involved. The strategies are important in creating a lead magnet that will ensure that the product reaches the intended users at an impressive rate (Cavusgil & Zou, 2011). The most commonly used way of making an interaction with the customers is through the social and mainstream media. This business unit has the ability to be built and hence thrive solely on the foundation of social and mainstream media. At this point, the employers will also be involved in the promotion of the products that this unit deals within the most common social media sites such as Facebook, snapchat, twitter, Instagram etc. this also enables them to reach out to other already successful business enterprises and other potential customers that are maybe looking for similar products in order to purchase (Clark, 2012).In any given SBU, it is important to note that the most vital aspect is to be able to provide answers to the following questions; what differentiates the productof your company from other potential competitors? What value does your institution provide andhow important it is in comparison to other available alternatives? These questions are in relation to the competitive positioning strategy. The competitive marketing strategies for this given SBU include the following;Market profile- this strategy involves the size of the market, the range of competitors within themarket as well as the state of growth. The strategic business unit selected targets the larger Australia nation since mobile phones are currently used by all individuals worldwide. Being that
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Strategic marketing management report (pdf)lg...
|12
|2229
|739
Business Analysis of JB Hi-Filg...
|10
|2729
|356
Implications of Digital Disruptions on Customer Experience for Samsunglg...
|12
|3581
|79
Strategic analysis assignment : IKEAlg...
|20
|5645
|31
(PDF) The Integrated Supply Chain Management Projectlg...
|10
|3085
|28
IT/IS in JB Hi-Fi: Existing State, Vision, and Required Projectslg...
|6
|1377
|247