Marketing Strategies and Effectiveness: A Research Report

Research report
assessment

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
CONCLUSION .............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
In current era of industry, there is a high level of oppositions among companies in terms
of acquiring innovations, advancement, implementing marketing strategies, tactics and many
more. Such aspects directly impact over organisation decision making process in a positive as
well as negative manner. However, to place the brand in a better position every form of
establishment adopts the function of marketing as it is link with creating, promoting and selling
the product or services with an aim of obtaining increased level of customer satisfaction. In
regard of this report, it encompasses the deeper understanding of marketing and effectiveness of
its various strategies, concepts, tactics, models over the productivity of an organisation in order
to gain competitive advantage among competitors.
MAIN BODY
1. List 5 factors you must have knowledge of to develop an effective marketing strategy.
Response
Some of the common factors which every form of organization face while creating its
marketing strategies for enlarging the proficiency ratio of product in an impressive style.
Some of its are explained below;
1.Political or regulatory factor : This determinant is concern with government rules,
regulation, policies, procedure, political stability which impact over organization potentiality
in attaining productivity ratio.
2. Economic factor: Under this component, it is relate with those aspects which comprises
interest rate, GDP, inflation, deflation, economic growth that influence enterprise to maintain
its brand value among targeted audience and competitors in a positive manner (Alqahtani and
Gupta, 2017).
3. Social factor: This element encompasses customer taste or preference, population income,
demographic aspects which effect establishment decision making procedure in managing its
customer base in an improved mode.
4. Technological factor: In this factor, it involve innovation, advancement, automation, novel
ideas or techniques with a purpose of acquiring aggressive and competent position among
competitors in a stipulated time limit.
5. Environmental factor: Under this determinant, it is link with those aspects which is states
the measure taken by firm towards controlling the pollution or global warming in order to
maintain the ecological balance in a better manner.
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2. When developing marketing strategies, you need to be aware of your business’ capabilities
and resources. What do you need to consider for each of the following aspects?
Communication capabilities: This aspects signifies that an organisation make an effort to
provide accurate or transparent information about particular products or services. This is
because, it enable them to improve its sales performance in an increased manner and also help
them to enrich its productivity ratio. Some of the method that an enterprise implements to
enhance its capability of communication like personnel selling, direct marketing, internet
marketing, social media platforms, advertisement, public relation, sales promotion.
E-business capacity: In this element, establishment take an initiative to adopt different types
of innovative technologies within its business function as it lead them to enlarge its market
share or size and also aid them to reach wide range of population without any hindrances.
Equipment capacity: Under this, company acquires latest or advanced equipments or
machinery for exploring the working procedure of its functional units. This is because, it
enable firm to reduce excessive cost, time, energy as well as motive each manpower to put
their full potential towards producing high quality of product for attaining sustainable growth.
Financial resources: IN this, firm make an attempt to analyse the market trends and based on
that ascertain the financial budget which empower organisation to meet out the requirements
of customers in an effective manner. Some of the sources of fund raising are bank loan, equity
shares, retained earning, funds from peers or relatives and many more (Bergstrom, 2014).
Hours of operation: This factor is relate with managing the time duration for assigned
workforce at operational units and also follows simple process for delivering the product or
service to targeted customers within prescribed time duration.
Human resources: Under this category, organisation make use of various recruitment
procedures like social media platforms, advertisement in newspaper, campus recruitment, job
fare. Due to such initiation, it benefit association to acquire highly skilled or talented
manpower who are able to impose novel ideas or techniques to cope up with all current and
emerging marketing trend in a better mode.
Staff skill levels: This aspects demonstrates the idea about identifying the potentiality or
capability of an individual and on the basis of that delegating roles or responsibilities. With
the help of such action, it help organisation to maintain its working culture in a better style and
also can accomplish the desired objective in a smooth way.
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