Fundamentals of Marketing Strategy

This assignment delves into the core components of a successful marketing strategy, emphasizing company positioning, goal setting, and target market definition. It uses Coca-Cola as an example of a company effectively implementing these strategies for sustained success in the global market. The text highlights the importance of adapting to market changes and understanding customer demands for competitive advantage.

Running head: MARKETING STRATEGY
Marketing Strategy
Name of the Student
Name of the University
Author note

1MARKETING STRATEGY
In today’s world, it can surely be said that without a firm planning no business
organization can become successful in this competitive market. Thus it can be said that to
gain desired success, the organization will have to make an innovative marketing plan.
A good strategic marketing plan should consist of three major components and those
are Company Positioning, Goals and Strategies and Target Market Defined. In this report
these components are highlighted go get the basic idea of the strategic nature of a marketing
plan.
The key elements of marketing in today’s world are making specific goals and
strategies, chalking out the current position of the organization in the market and the ability to
define the target customers.
Company Positioning
The management of the business organizations should chalk out the current position of
their organization in respect to the financial results. These types of detailed analysis can
allow the management to locate the strategies that might help to increase the profitability of
the organization (Koku 2014). Then the management team can choose to do a SWOT
analysis to get the idea of the present situation of the organization in the market of operation.
Strategies promoted by marketing plans
Goals and strategies
A strategic marketing plan would remain incomplete if the management does not
implement any specific goals and strategies for the organization. These organizational goals
appraise the rationalization of the resources in distribution marketing and production when
the marketing strategies would allow the conversion of the targets into realities (Foxall 2014).

2MARKETING STRATEGY
For an example, it can be said that a strategic goal might express the intention behind
improving the brand recognition and the brand reputation, when the parallel plan would
surely define the suitable media or any method of promotion to attain the desired success.
Target Market Defined
For the management of any business organization, it is necessary to define the target
customers for all the products and services of their organization. This technique allows the
management to conduct further research on their requirements, preferences or demands in
order to monopolize the market (Nykiel 2016). Apart from that the management should
define the geographic and demographic stratification of those groups.
Coca-Cola
In this context, it can be said that Coca-Cola is such an organization, where they
somewhat follow these basic strategies of marketing and in today’s world they are one of the
oldest successful beverage manufacturer organization. They know that in order to sustain
their reputation and profitability they will have to get to know the market demands and they
will have to adapt with the market changes that have been changing very rapidly nowadays
(Armstrong et al. 2015). Thus in global market Coca-Cola is one of the biggest names
because with time they have improved their quality of the products, they have understood the
value of a proper marketing strategy along with that the management of Coca-Cola have
successfully read the market demands and gained the desired competitive advantage in the
market. These are the keys behind their success as a global brand.
Thus to conclude, it can be said that Strategic Marketing Plans are essential for a
business organization to sustain their productivity and profitability along with the reputation
or the brand value.

3MARKETING STRATEGY

4MARKETING STRATEGY
References
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.
Pearson Education.
Foxall, G., 2014. Strategic Marketing Management (RLE Marketing) (Vol. 3). Routledge.
Koku, P.S., 2014. Strategic Marketing Plan. In Decision Making in Marketing and
Finance (pp. 35-47). Palgrave Macmillan US.
Nykiel, R.A., 2016. Marketing Your Business-A Guide to Developing a Strategic Marketing
Plan.