Corporate Strategy and Marketing Strategy : Report
20 Pages7370 Words276 Views
Added on 2020-01-15
Corporate Strategy and Marketing Strategy : Report
Added on 2020-01-15
ShareRelated Documents
STRATEGICMARKETING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................11.1 Role of strategic marketing in the organization...............................................................11.2 Relationship between corporate strategy and marketing strategy....................................21.3 Analysis on developing marketing strategy.....................................................................43.1 Analysing decisions and choices to be made at corporate level.......................................53.2 Assessing decisions which are influencing at functional level........................................73.3 Analysing approaches for competitive positioning of organization.................................8ACTIVITY 2....................................................................................................................................92.1 Internal environmental analysis of TSM..........................................................................92.2 External environmental analysis of TSM.......................................................................112.3 Integration of internal and external analysis..................................................................12ACTIVITY 3..................................................................................................................................134.1 Identifying range of strategies that contribute business competitive advantage............134.2 Analysis of the marketing communication strategies for the business venture..............144.3 Analysing marketing strategies as how it can be implemented within business organization..............................................................................................................................................15CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
INTRODUCTIONStrategic marketing can be defined as a process through which business organizationdifferentiates itself from their competitors by capitalizing their strengths. Further, they alsoemphasize on providing best of the value to their customers as compared with their majorcompetitors which are working in the same industry (Hollensen, 2015). With good marketingstrategy, organization will be able to develop a good product policy which will help them inachieving their goals and objectives as well as it will also boost venture morale to increase theirrevenue and profitability. Further, effective strategic marketing will give firm a competitive edgeand with that, they will get best of the customer responses which will help them in buildingsuperior brand image. Organization undertaken for the present study is Total MarketingSolutions (TMS) which is a marketing consultancy business that provides support and advice toother business ventures who are looking for developing their strategic marketing plans. This present study will focus on understanding the role of strategic marketing within thebusiness organization. This report will also emphasize on analyzing that how an effectivemarketing strategy is developed within the business enterprise. Further, this study will also looktowards the evaluation of different approaches in the respect of internal and externalenvironmental analysis.ACTIVITY 11.1 Role of strategic marketing in the organization Strategic marketing helps in ensuring that business venture must select the right output,products as well as services to bring best of the outcomes for the customers. Apart from it,marketing is also considered as a management process of identifying, anticipating and satisfyingthe needs of different users. Further, there exists many roles of strategy within the businessenterprise. Some of these roles have been studied down under:Major framework for operational planning:Strategies generally provide framework for plans and by taking effective operativedecisions, firm will be able to achieve their goals and objectives in a significant manner (Proctor,2014). Moreover, if strategies are developed by taking proper actions and if these strategies areeffectively understood by the managers, then it will provide consistent framework for theoperational planning. TMS considers the requirements of their business clients and accordingly,develop their plans and policies. 1
Streamlining the product development:Marketing strategy will help the mentioned enterprise to develop services with anoptimum chance of making profit. This is genuine because marketing strategy starts withundertaking the market research and by taking this thing into consideration, organization will beable to satisfy the needs and demands of their customers. Further, cited firm should come toknow that what are the needs of customers and they should produce only those services whichgive them maximum satisfaction and help mentioned firm to increase their revenue as well asproductivity.7 P's of marketingStrategic marketing can help TMS in ensuring that firm provides right quality of servicesto the business ventures which will help it to achieve their goals and objectives in an effectivemanner (Zhu and et.al., 2012). Different P's have their own significance in the success ofbusiness firm and these P's of marketing have been discussed down under:Right product/serviceRight place as they should be available through right channelsRight price as it needs to be served products and services at the best of price and thereshould not be a burden on service users.Right promotion as it needs to be presented products and services in a right manner withthe help of different promotional techniques.With employment of right people, they give user a genuine experience and guide themregarding all the positive forms of service.Physical evidence needs to be taken into consideration as business venture has toconsider business environment and different other factors.Under process, cited firm has to be taken into consideration that products and servicesshould be user-friendly (Blythe and et. al., 2010).1.2 Relationship between corporate strategy and marketing strategy Corporate strategyAn organization strategy shows that where corporate wants to go and how they areplanning to go there. This definition of corporate strategy is applied to both the overall strategyof venture as well as to the strategies to major sub-units of organization as well. Apart from it,major attention is given to strategy formulation at the corporate level as compared to business2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Role of Strategic Marketing in Organizationlg...
|13
|4308
|349
Concept of Strategic Management | Reportlg...
|17
|5255
|90
Marketing Strategies of IKEAlg...
|16
|4376
|107
Business Strategy Assignment | Marks and Spencerlg...
|21
|6787
|147
Reflective Business Strategy Reportlg...
|14
|4113
|292
Competitive Strategy Analysislg...
|8
|1744
|89