Solved: Assignment on Strategic Marketing management
19 Pages5061 Words170 Views
Added on 2019-12-03
Solved: Assignment on Strategic Marketing management
Added on 2019-12-03
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Strategic Marketing
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................11.1 Role of strategic marketing in an organization.................................................................11.2 Relationship between corporate strategy and marketing strategy....................................21.3 How marketing strategy is developed..............................................................................32.1 Decisions and choices of corporate level.........................................................................52.2 How decisions influence marketing at business unit and functional level.......................62.3 Competitive positioning of Marks and Spencer...............................................................6ACTIVITY 2....................................................................................................................................73.1 Evaluation of approaches to internal environmental analysis..........................................73.2 Evaluation of approaches to external environmental analysis.........................................83.3 How internal and external analyses are integrated...........................................................9ACTIVITY 3..................................................................................................................................104.1 Strategies that contributes to the competitive advantage of M&S.................................104.2 Marketing communication strategies of M&S...............................................................114.3 Marketing strategies and its implications.......................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
ILLUSTRATION INDEXIllustration 1: Strategic marketing management..............................................................................2Illustration 2: Development of marketing Strategy.........................................................................4Illustration 3: 5M model..................................................................................................................8Illustration 4: Porter's Generic Strategies......................................................................................11
INTRODUCTIONStrategic marketing refers to the competitive benefits of the firm which helps it to gain asustainable competitive edge and market position (Olson, Slater and Hult, 2005). These benefitscan be categorized as the modernized inventions, geographical locations, extremelyaccomplished personnel etc. These core competencies help the company in measuring theirbusiness performance and growth for its success in the marketplace. In this context, presentreport is developed which focuses on strategic scenario. In this report in depth discussion is doneon effective tools and techniques of strategic marketing. Further, Marks and Spencer (M&S) isbeing taken into account.M&S is the multinational retail company of the UK. It is a public limited giantorganization that trade in home products, garments and luxury food offerings. This companyserve the worldwide customers by providing them with series of goods such as, apparels forevery segment, kids and women’s accessories, casuals, jeans, formals etc.ACTIVITY 11.1 Role of strategic marketing in an organizationStrategic marketing can be defined as the core competencies, core advantage, tools andtactics of the firm which helps in competing with other rivals. This helps the business inevaluating the effective means of factors to get success in the market (Vorhies and Morgan,2003). Strategic marketing measures of company seek in delivering high value preposition fororganization. M&S has formulated an effectual way of comprehensive strategic standards thatassist the firm in making brand position. The value based operations and ethical businessactivities have resulted in developing organizational performance rather than merely increasingthe sales. 1
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