Strategic Marketing Management: Building Effective Strategies and Developing Marketing Plans

This study focuses on building effective marketing strategies and developing marketing plans for better decision making in strategic marketing management. It explores various marketing strategies, conducts market analysis, and identifies strengths and weaknesses of the marketing strategy. The study also discusses the role of pricing, distribution, and communication in the marketing plan.

Strategic marketing
management

Table of Contents
INTRODUCTION...........................................................................................................................3
1. BUILDING EFFECTIVE MARKETING STRATEGY.............................................................3
1.1 Identifying range of marketing strategies.............................................................................3
1.2 Conducting market analysis of organization.........................................................................4
1.3 Carrying marketing analysis to build marketing stratgey for company................................4
1.4 Identifying strengths and weakness of the marketing stratgey of company. .......................5
2. DEVELOPING MARKETING PLAN FOR BETTER DECISION MAKING..........................6
2.1 Examining the key purpose related with the marketing plan................................................6
2.2 Evaluating the benefits of developing marketing plan and sales. ........................................6
2.3 Developing the operational and marketing plan for company. ............................................7
3.1 Identifying the buyer in consumer market............................................................................7
3.2 Role of pricing, distribution and the communication in process of the marketing plan.......8
3.3 Analysis of environmental factors in consumer buying process ..........................................9
3.4 Criteria for successful marketing........................................................................................10
3.5 Marketing approaches in planning and development of target marketing. ........................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Strategic marketing management is significant in implementing the mission of the
company which is useful in focusing process with the existing marketing plan. It is useful in
examining the target customers. This study will highlight on building effective marketing
strategy and also developing a marketing plan for better decision making. This study also tends
to focus planning, segmenting and positioning the product in order to attain target market. Nestle
Trinidad and Tabago limited is one of the recognized brand which helps in providing high degree
of quality and nutritious products. Nestle deals in range of products and services like
confectionery, milk products and baby food, frozen food, baby food, coffee and tea, bottled
water, breakfast cereals, medical food and snacks. This study will focus on marketing milk
products and baby food of Nestle company.
1. BUILDING EFFECTIVE MARKETING STRATEGY
1.1 Identifying range of marketing strategies.
Word of mouth marketing: This is one of the significant procedure which helps in actively
encouraging and influencing the organic word of mouth discussion related with the products,
brand and resources of the Nestle company.
Internet marketing: It is an effective procedure of promoting a products and services of the
specific brand over the internet by effectively using range of social media platforms like social
media platforms through Facebook, Instagram, search engine optimization in order to drive
traffic to the website, generate leads and increase sales of the company.
Paid advertising: This is the marketing strategy where the advertisement about the products has
been displayed on various platforms which is useful in persuading the customer in order to buy
the products and services (8 Types of Marketing Strategies and Definition, 2019).
Diversity marketing: It is a useful marketing paradigm which helps in connecting the diverse
individual within the market. It is significant in catering diverse range of audience by effectively
customizing the different marketing strategies to cover range of varied different aspects like
views, belief, attitude, culture and other specific needs of the customers.
Relationship marketing: This is a significant measure which helps in enhancing the relationship
with existing customers. This way it is useful in enhancing the loyalty of the customers to attain
higher better results and outcomes.

1.2 Conducting market analysis of organization.
The key objective of the Nestle company is to be a global leader in health and wellness,
industry, nutrition. The products which has been offered by the Nestle Trinidad and Tabago are
Milo, Purina, Svelty, Nescafe, Gold flakes, Corn Flakes, Trix, Nesquik, Orchard, Maggi, Lucky
Charms, Lactogen, Minor's, Cheerios, Nestum and Coffee mate. The company has its
establishment in across 191 countries worldwide (Varma and Ravi, 2017). The Nestle has
existence in the Trinidad and Tabago for over 100 years also tends to have local manufacturing
operations for last 55 years. The Nestle company has started its operation from Marine Square to
Picton road to Laventille and has finally established the corporate centre within Valsayn. There
are large number of competitors which are present within the market which can largely influence
the operations of the Nestle company mainly includes Mars, Hershey, Mondelez International,
Pepsico, Kraft Heinz, Danone, Uniliver, General Mills, etc. The company tends to effectively use
geographic, demographic and behavioural segmentation strategies which is useful in mitigating
the changing needs within the competitive industry. The Nestle company effectively reach the
customers with the help of the expert market salesman and significant distribution and
transportation facilities.
1.3 Carrying marketing analysis to build marketing stratgey for company.
Nestle company is considered to be as the one of the top leading FMCG company. The
company mainly focuses on using geographic, demographic and behavioural segmentation
strategies which is useful in mitigating the changing needs within the competitive industry (He,
2018). Effectively targeting, segmenting and positioning is one of the key relevant marketing
strategy of the Nestle company. Using differentiated targeting strategy helps in targeting
homogeneous set of customers who has similar needs. The company focuses on the pioneer
customers with range of premium food innovation helps in providing culinary experience to the
customers. Business goal: The key goal and objective of the company helps in achieving
compatibility with environmental management system and international voluntary
standards. Marketing goal: The key marketing goal of the Nestle company is to raise awareness
related with the brand and the products which has been offered by the company. It is
useful in measuring the marketing success and increasing the value of the customers. The

Nestle company also empower the brand ambassadors to promote the products of the
Nestle company.
 Market research: Complete market research has been carried out within the Trinidad and
Tabago which helps in examining the current needs and demand of the customers within
the market.
However, internet marketing strategy is considered to be highly prominent because it is
useful in promoting the dairy milk products and baby food products of the Nestle company. The
marketing is carried out over the internet by using range of social media platforms like social
media platforms through Facebook, Instagram (Adhikari, 2017). However, search engine
optimization helps in driving traffic to the website, generate leads and increase sales of the
company.
1.4 Identifying strengths and weakness of the marketing stratgey of company.
Strengths of internet marketing
Internet marketing is significant because eit us useful in providing customized advertising
approach and is inexpensive. It is the prominent way because it helps in providing ways to meet
large number of targeted customers within Trinidad and Tabago to attract large number of
customers which is significant in building up of strong relationship with the customers (Ishrar,
2017). Social media plays one of the significant role in gaining attention of the customers at
large and also relying heavily on the social media to generate heavy lead of the customers. It is
useful in building lasting relationship with the customers by continuously interacting with the
clients and providing after sales services. This marketing is significant in tailoring the advertising
measure for the specific target audience.
Weaknesses of internet marketing
One of the key disadvantage related with the internet marketing is linked with the privacy
and security issues. Another weakness related with the internet marketing is that, there is a high
transparency of pricing which leads to increased pricing competition. Negative reviews if the
customers on the social media platforms is one of the significant measure which largely
influence the marketing of the Nestle company. The results which has been generated on the
social media platforms takes time. It does not provide instant results and also do not examine the
success of the campaign. Inferences due to any technological problem is another weakness
related with the internet marketing.

2. DEVELOPING MARKETING PLAN FOR BETTER DECISION
MAKING.
2.1 Examining the key purpose related with the marketing plan.
The key significant purpose of the marketing plan is to clearly show what measures and actions
has been taken by the organization which helps in attaining the goals associated with the
marketing to improve the sales and productivity of the company. Effective marketing plan is
highly significant because it helps in increasing the market share of the organization. Another
significant measure for developing a market plan because it helps in evaluating new
opportunities and helps in allowing the business to be completely aligned and proactive with the
goals and vision of the company (Perales, 2017). The key purpose is that, it is significant in
developing a comprehensive plan and attaining the marketing objectives of the Nestle company
in Trinidad and Tabago. It helps the organization in concentrating the scarce resources to
provide the best possible opportunities to the company which helps in increasing the sales.
Another significant measure of the marketing plan is to effectively know the targeted customers
and seek their attention towards the specific products and services offered by the Nestle
company. This is useful in reaching the large number of customers and encouraging them to nuy
the certain range of the products and services which has been offered by the company. It tends to
contain the value proposition of the company to improve the performance and productivity of the
Nestle company.
2.2 Evaluating the benefits of developing marketing plan and sales.
The key benefits of developing marketing plan is to bring everyone on a single page and
proactivity aligning the goals of the business to improve the sales and gaining attention of the
customers from diverse areas. The key significant benefit of developing a marketing plan is that
it is useful in measuring the marketing goals. It is useful in aligning the business goals and
evaluating new opportunities to carry out the business. An effective marketing plan is useful in
boosting up the sales and also improving the profit margins of the company (Ahmed, 2017). It is
useful in identifying the needs and want of the customers and also helps in examining the
demand of the product. The marketing plan is useful in identifying the new product area and new
potential customers which is useful in the attainment of the goals and objectives of the company.
It helps the organization in providing the big picture which improves the overall performance
and productivity of the business. Marketing planning helps in effectively meeting the key

necessities related with the target customers and it helps in making the business exceptional.
Crafting up of the comprehensive marketing plan helps in clearly designing a strategy which is
useful in meeting the needs of the customers. Effective marketing plan is highly significant
because it assists in building brand and is significant in addressing the various core necessities
associated with the marketing. It is useful in streamlining the business practice and operations.
Sales planning is of significant importance because it is useful in seeking foreseeable potential
risk and is also useful in meeting the key necessities of the target market.
2.3 Developing the operational and marketing plan for company.
Operational plan of Nestle
The Nestle company focuses on creating shared value and it helps in enhancing the quality of
life. The key operation strategy of the Nestle company is to contribute in the effective application
of health and wellness and nutrition strategy of the company (Varma and Ravi, 2017).
Developing of a significant supply chain and distribution strategy of the Nestle company within
Trinidad and Tabago. Use of Key performance indicators is significant as it helps in examining
the necessary measures which has been taken to improve the outcomes.
Marketing plan of Nestle
Product: The products which has been offered by the Nestle Trinidad and Tabago are Milo,
Purina, Svelty, Nescafe, Gold flakes, Corn Flakes, Trix, Nesquik, Orchard, Maggi, Lucky
Charms, Lactogen, Minor's, Cheerios, Nestum and Coffee mate.
Price: Nestle follows value based pricing strategy for the products and services. This helps in
providing quality products at a price which are of utmost value to the customers.
Place: The products are sold in all the areas of Trinidad and Tabago to increase sales. The
products are sold directly and indirectly through online platforms.
Promotion: The Nestle company will use internet marketing strategy which is useful in targeting
the potential customers to attract the customers towards milk and baby products.
3.1 Identifying the buyer in consumer market
Consumer Market
It refers to the system which allows people to purchase goods, products and the services.
The items could be used either for personal purpose or could be shared with the others. In

consumer market people make their own decisions on their spending and the way they will be
using the products purchased. Food, beverages, drinks, clothes, health, electronic stuff,
accessories & many others are examples of the consumer market where the buyers are goods and
services for sake of consuming and not buying things for resale (Dogu and Albayrak, 2018).
Identifying customer market is essential for the business for their products so that they focus
their attention towards a particular consumer group. This is necessary so that they could make
strategies and plan to promote their products in a particular market segment.
Nestle is a big brand serving society from years. It has build a space in the daily life of
people for its dairy and milk products. Company is bringing some new milk products and baby
products. They are specially for the new born babies that are dependent only over the milk
products. Therefore the target consumers are the babies and the children up-to age of 10 years.
As the babies and children are too small to take decisions it will be focused over mothers and
female customers. The milk products are health for enhancing the growth of children by
providing them with essential nutrients and proteins. Baby products are of high quality to meet
the requirements of babies.
3.2 Role of pricing, distribution and the communication in process of the marketing plan
Pricing
The most important decision which is crucial for success of business involve pricing the
products. Prices of the products should not be too high or even not too low. Price of the product
should cover all the costs and a reasonable margin of profits. Company could not grow and
survive without earning sufficient amount of profits in the business. Prices should reflect
adequately the product and its quality. Prices are also decided keeping in view the target
consumers of the company. There are various pricing strategies for promoting their product in
the market.
Nestle follows value based pricing strategy for the products and services. In this pricing
strategy it makes customer believe that the products sold by them are are worth. This strategy
will be followed by company for the milk and baby products. The pricing strategy will help the
company in providing direction to their marketing plan. Pricing is very important is very
important as the success of the marketing plan is dependent over the pricing strategy chosen by
company for its products.
Distribution

It refers to managing efficiently acquisition of the raw materials by factory and
movement of the products from manufacturer or producer to the business to business user and
consumers. This includes various facets like hours, location, online presence, logistics, supply
chain management, inventory management and other. Supply chain management strategies helps
the company to increase efficiency of the logistics services by efficient movement of goods and
services from producers to users. Distribution channel is made of the marketing intermediaries
that helps in moving the products and services to end consumers and users. Distribution channel
is essential for delivering the goods and services to ultimate consumers.
Nestle uses intensive distribution strategy. It is focused over keeping the products to as
many locations with intensive distribution strategy. This method makes the goods available over
multiple location for each reach to the consumers. Milk and baby products will be made
available over different locations so that it could be in easy reach of the consumers.
Communication
It refers to means adopted by companies for conveying messages for products and
services they are selling either indirectly or directly to customers with intention of persuading
them for purchase (Šedík and et.al., 2018). It is essential to decide how the products and their
effectiveness will be conveyed to the customers. They have to ensure that the proper
communication channels are used for communicating about the products. Communication
develops health relationship and trust with the customers along with providing quality products.
3.3 Analysis of environmental factors in consumer buying process
Environmental factors influencing the consumer buying decisions
Cultural Influences
It is complex total of the beliefs, knowledge, customs, traditions, moral law, art or other
habit adopted by people in a society. Consumer behaviours is influenced by the culture or
background of the society. Emphasis is given over the purchasing, using and disposing the
products. It sells its products in different locations as per the preference of cultures in which it is
serving. It highly influences the buying decision of the consumers. It should ensure that the
products do not hurt or affect the cultural sentiments of people.
Social Class
It refers to group of the people who are sharing equal positions in the society. It is defined
by the parameters such as education, income, occupation etc. People share same beliefs and

values and influence the buyers towards purchasing similar products. It is very essential for the
marketer to identify the social class of their consumers for making strategies for the products and
services.
Social Group Influence
It is the collection of individuals that are having same attitudes, relationship and having
same interests. These groups are primary where the interactions occurs frequently and consist of
the family groups. Social groups highly influence the behaviour of consumers. Over the present
time social groups are highly influencing the behaviours of customers (Stepanova, Horbas and
Davydova, 2017). Social networking has made people more connected where the ideas and
thoughts are shared which influences the demand of a product or service.
Personal influences
Every individual process information about the products and evaluates it in personal way.
It is irrespective of influence of other factors like social class, family, culture etc. Personal
decisions are influenced by own evaluation and experience of the product. Everyone has their
own likes and dislikes, convenience, prices or the status.
3.4 Criteria for successful marketing
It is very important for the organisation to ensure that the marketing plan is efficient and
effective. Company is required to identify the needs and requirements of customers or the
segment it is planning to focus. It has to understand the requirements of customers and provide
products that satisfy the needs and wants of customers. Successful marketing provides the
targeted consumers with the products & services required at affordable prices.
Firm should define the market
It is starts with deep market research in which company is planning to serve. It refers to
the market which could be reached by the company and the members will be buying the products
and services. It has to identify the target customers in the market whose needs and demands
company will be satisfying through its products and services. It provides the base for planning
further strategies for promoting the products.
Identifying the needs of customers and pricing
Successful marketing requires the company to identify the needs of people and the target
customer group that will be served. It has to research on it and come up with the products that
will more better satisfy requirements of customers. After identifying needs it has determine the

pricing strategy for the products & services. Consumers should get value for the price they are
spending over the product. Pricing plays an important role for defining the success criteria.
Promotion and Sales
It is one of the most important aspect for successful marketing is promotion of the
products. In number of cases effective promotions makes the products and services successful in
marketing. Effective promotional strategies targeting the customer group should be established
for successful marketing. The final element is that products and services should be in easy reach
of the customers. Products that are in easy reach of the customers many of times makes the
products successful without promotions.
3.5 Marketing approaches in planning and development of target marketing.
Target Market refers to the group of individuals who are sharing measurable
characteristic influencing the leisure and recreation behaviour in the ways which are consistent
and could be predicted. It has to efficiently plan and develop target marketing for the products.
Product Approach
It refers to study of the products in detail. Marketing situation of the products to be
delivered are studied by the marketers from different viewpoints analysing the sources, supply
condition, policies and market organisation taking part in the distribution of the products.
Marketers analyse the issues and factors related to the target market in detail (Post and Leavell,
2019). This is a time consuming and repetitive approach.
Institutional Approach
The approach is related to the different marketing institutions that are retailers,
wholesalers and others engaged in the marketing. The approach involves thorough study of the
mediators who will be performing the functions of intermediaries. It gathers information about
the intermediaries for designing the strategies for target marketing.
CONCLUSION
This study summarizes that, internet markerting strategy is considered to be highly
prominent because it is useful in promote dairy milk products and baby food products of
company. It is useful in building lasting relationship with the customers. The key puropose of
marketing plan is that, it is significant in developing a comprehensive plan and attaining the
marketing objectives of the company. The key benefits of developing marketing plan is that it is
useful in identifying the needs and want of the customers. Nestle follows value based pricing

strategy for the products and services. Supply chain management strategies helps the company
to increase efficiency of the logistics services. Product nad institutional approach helps in
planning and development related with the targeting market.

REFERENCES
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8 Types of Marketing Strategies and Definition. 2019. [ONLINE]. Available
through:<https://www.yodiz.com/blog/8-types-of-marketing-strategies-and-definition/>