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Role of Strategic Marketing in Organization

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Added on  2019-12-03

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STRATEGIC MARKETING TABLE OF CONTENTS INTRODUCTION 3 ACTIVITY 1 3 1.1 Role of strategic marketing in organization 3 1.2 The relationship between corporate and marketing strategy 4 1.3 Analyzing the way in which marketing strategy is developed4 3.1 Decision and choices which are made at corporate level 5 3.2 Assessing the way in which decisions influence the marketing at business and functional level 6 3.3 Analyzing approaches to competitive positioning of businesses6 ACTIVITY 2 7 2.1 Evaluating approaches to internal environmental analysis 7 2.2 Evaluating approaches to external

Role of Strategic Marketing in Organization

   Added on 2019-12-03

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TABLE OF CONTENTSINTRODUCTION.....................................................................................................................................3ACTIVITY 1..............................................................................................................................................31.1 Role of strategic marketing in organization................................................................................31.2 The relationship between corporate and marketing strategy.......................................................41.3 Analyzing the way in which marketing strategy is developed....................................................43.1 Decision and choices which are made at corporate level............................................................53.2 Assessing the way in which decisions influence the marketing at business and functionallevel...................................................................................................................................................63.3 Analyzing approaches to competitive positioning of businesses................................................6ACTIVITY 2..............................................................................................................................................72.1 Evaluating approaches to internal environmental analysis.........................................................72.2 Evaluating approaches to external environmental analysis.........................................................72.3 Explaining the way in which internal and external analysis are integrated................................8ACTIVITY 3..............................................................................................................................................84.1 Identifying a range of strategies that can contribute to competitive advantage of business.......84.2 Analyzing marketing communication strategies for business.....................................................94.3 Analyzing and implementing the marketing strategies.............................................................10CONCLUSION........................................................................................................................................10REFERENCES.........................................................................................................................................122| P a g e
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INTRODUCTIONIn today's competitive world, marketing is the core element which assists in increasingthe sales and in attaining the competitive advantage. However, it is essential for marketingdepartment to plan effectual marketing strategy with an aim to achieve maximum profit and tosustain the business for a long run. It also provides direction which helps the firm to create theirown plan with an aim of attaining varied types of objectives such as increasing customersatisfaction and enhancing the business profitability (Cravens and Piercy, 2008). In the presentreport, there are various case activities which have been discussed. Thus, all these scenariosfocus upon the main objective which is of building strategic marketing plan for the prospectivecustomers. Further, the report also assesses the ways through which strategic marketing decisionsare undertaken by the firm. In the current report, the consultancy firm, 'Total MarketingSolutions' (TMS) provides support and advice to its prospective new clients of hospitalityindustry such as Hilton and Marriott that are focusing to develop their strategic marketing plan.ACTIVITY 11.1 Role of strategic marketing in organizationAs per the American Marketing Association (AMA), strategic marketing helps the firm togain competitive advantage within market and to enhance the sales and profitability. Therefore,TMS is required to provide relevant information about strategic marketing to its potential clientssuch as Hilton and Marriott. Following is the importance of strategic marketing within firm-Streamlines product development- Through developing marketing strategy, it helps theorganization to develop effectual products and services with the best chances to gainprofits. However, marketing strategy plays a crucial role to streamline the productdevelopment process of organization. Thus, it starts through carrying out market researchand ends with fulfilling the needs and requirement of customers (Polonsky andRosenberger, 2001). Further, it helps in providing the required products and services withan aim to attain the satisfaction among clients.Develop brand image- Furthermore, strategic marketing also helps Hilton and Marriottto build positive brand image of hotel in the minds of clients. For instance, if businessesundertake the modern and innovative technology for promoting their products andservices, it helps them to attract large number of customers. Thus, it creates a distinct3| P a g e
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brand image of firm among clients and they intend to utilize the products and services offirm at regular intervals (Larreche, 2005). 1.2 The relationship between corporate and marketing strategyIt can be evaluated that there is a strong relationship that exists among corporate andmarketing strategy of organization. However, it can be analyzed that Hilton hotel possess themission of delivering quality care and support to the customers which ultimately results in highsales and profitability. With regard to perform the same, management of hotel is required toprovide proper information and knowledge about the type of unique products and services whichthey are offering as compared to other rivals. Through this, it helps in attracting large number ofcustomers and in raising the sales (Cooper, 2000). However, in order to attain the stated goal,consultancy firm provides information to hotel in regard to adopt effective marketing promotiontools such as social media websites, newspapers etc. The specified tools and techniques wouldhelp the firm to accomplish its mission of attracting potential clients and thereby, increasing itssales and profitability. Similarly, Marriott hotel has an aim to improve the satisfaction of its customers throughintroducing attractive products and services at the marketplace. Thus, in order to attain such typeof objective, it is essential for the hotel to have strong connection with their marketingdepartment. Further, by carrying out proper market research, it assists the organization todetermine specific areas which requires to be extended (Wilson and Gilligan, 2012). However, itcan be analyzed that the marketing and corporate strategy are interconnected and interlinked witheach other. 1.3 Analyzing the way in which marketing strategy is developedThere are varied numbers of ways which can be adopted by the prospective clients ofTMS with the purpose to develop an effectual marketing strategy. Following are the steps thatneed to be undertaken are as follows-Assessing the products and services offered by business- In this, the marketingmanager of Hilton and Marriott hotel is required to deliver proper information to guestsabout the products and services being offered by them. Thus, through providing such typeof information, it helps in developing an effective marketing plan to attract the potentialclients (West, Ford and Ibrahim, 2015). 4| P a g e
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