Strategic Management | Report
13 Pages4781 Words155 Views
Added on 2019-12-03
Strategic Management | Report
Added on 2019-12-03
ShareRelated Documents
STRATEGIC MARKETING1
TABLE OF CONTENTSINTRODUCTION.....................................................................................................................................3ACTIVITY 1..............................................................................................................................................3Assessing the role of strategic marketing in organization.................................................................3Analyzing the relationship between corporate and marketing strategy............................................4Analyzing the ways to develop marketing strategy...........................................................................4Analyzing the choices and decisions that are to be made at corporate level.....................................5Assessing the impact of these decisions at business and function level...........................................6Analyzing approaches to the competitive positioning of enterprise.................................................6ACTIVITY 2..............................................................................................................................................7Evaluating the approaches to internal environmental analysis.........................................................7Evaluating the approaches to external environmental analysis.........................................................8Explaining the ways of integrating internal and external analysis....................................................8ACTIVITY 3..............................................................................................................................................8Assessing the range of strategies that can contribute to the business competitive advantage..........9Analyzing marketing communication strategies...............................................................................9Analyzing and implementing the marketing tactics........................................................................10CONCLUSION........................................................................................................................................10REFERENCES.........................................................................................................................................112
INTRODUCTION Strategic marketing provides direction by which firm creates their plan for the purposeof attaining different types of objectives such as raising the customer satisfaction and improvingthe organization's profitability (Strategic marketing, 2015). The report is based upon varied typesof case scenarios. However, all these case scenarios focus upon main objective which is ofdeveloping the strategic marketing plan for the prospective clients. In this regard, report willshowcase the ways of analyzing tactical marketing decisions which is being taken by theorganization. Furthermore, the report will also provide a detailed description regarding the rangeof marketing strategy that can be implemented to contribute in the competitive advantage. ACTIVITY 1 The information pack is produced for the prospective new clients of TMS (Totalmarketing solution) that are associated with the hospitality industry and named as Ritz Carltonand hotel Hilton. The pack produced will cover the following points:Assessing the role of strategic marketing in organizationThe concept such as strategic marketing plays a crucial role within organization like RitzCarlton and Hotel Hilton. Strategic marketing has the role to streamline the product developmentprocess of firms. It is because marketing strategy begins with the marketplace research wherein itconsidered the needs and demand of target buyers (Role of strategic marketing, 2015). Thus, onthe basis of these assessed needs and demand only, cited enterprises carry out the development ofeffective products and services. Through this way, firm can perform necessary improvements intheir sales and profitability related condition. In addition to this, strategic marketing assists thefirms with regard to build up the positive image about the brand in minds of buyers. In thiscontext, it has been seen that the type of marketing strategy which is being selected by the firmpossesses significant impact on the mind of customers. For example, the use of modern and hightech promotional means by Ritz Carlton develops an effective image among customers (Brookesand Palmer, 2003). Here, buyers decvelop this type of image about the firm in their mind thatthey are using the services of that particular organization which understands the needs andimportance of modern and high tech means. Thus, it can be said that the given concept hasgreater importance within enterprise. 3
Analyzing the relationship between corporate and marketing strategy There is a relationship exist between the corporate and marketing strategy of firm. Inorder to explain about the same, examples from the cited hospitality organizations are drawn. Inaccordance with the given context, on the basis of analysis, it has been found out that RitzCarlton has the mission of providing genuine care and exceptional services to the customers thatresult into high profits. In order to perform the same, at first, manager of the cited firm has togive information to its buyers regarding the type of goods and services which is being offered byit. However, with an aim to achieve the given goal, manager of Ritz Carlton has to takeassistance from varied marketing promotional tools and techniques such as television, printmedia and social networking sites etc. (Daniels and Radebaugh, 2006). This is because, by usingthese given specified means only, hotel can attract large number of buyers towards its services.As a result of it, the mission of corporation can be met that is of increasing the profits oforganization. Likewise, for instance, Hilton has objective to enhance the satisfaction of its buyers byintroducing new services in the market. The objective cannot be met by the firm if it would nothave assistance from the marketing department. It is due to the fact that it is the marketingdepartment only that conducts research upon the country where firm functions its operations. Theresearch as being conducted by marketing department helps the enterprise with regard to assessthe specific new area of services where it can explore (Gilmore, 2011). Thus, it can be stated thatthe marketing and corporate strategy are inter-related and interconnected to each other. In orderto clarify it more it can also be said that the manager selection with respect to the type ofmarketing means also depends upon its corporate strategy. For example, hotel Hilton hasintroduced some services for the young buyers. Thus, in order to give information about theservices to the respective buyers, cited firm will use the marketing mean such as social mediawebsites. This is because, these are the websites which are mostly being used by the youngcustomers. Thus, by selecting the given marketing strategy the framed corporate goal of firm willbe met. Analyzing the ways to develop marketing strategyNumber of steps are identified that can be used by the prospective clients of TMS with anaim to develop an effective marketing strategy with regard to the products and services beingoffered by them. The detailed explanation regarding the assessed steps is depicted as below:4
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
Hospitality Marketing Essentialslg...
|14
|3880
|51
Strategic Resource Management - Assignmentlg...
|22
|7571
|171
Strategic Management for International Hospitality Industrylg...
|10
|884
|81
Business Management and Strategic Management Running Header: Business Management and Strategic Managementlg...
|12
|3127
|202
Study on Principles of Marketinglg...
|14
|4184
|140