Strategic Marketing Assignment Copy
Added on -2021-02-21
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STRATEGICMARKETING
Table of ContentsINTRODUCTION...........................................................................................................................1ACITIVITY 1..................................................................................................................................11.1 Assessment of role of strategic marketing in an organisation..........................................11.2 Analysis of relationship between corporate strategy and marketing strategy..................21.3 Analysis of how marketing strategy is developed............................................................33.1 Analyse decision and choices which are made at corporate level ...................................43.2 Assess how these decisions influence marketing at business unit and functional level...53.3 Analyse approaches to competitive positioning of organisations....................................5ACITIVITY 2..................................................................................................................................62.1 Evaluation of approaches to internal environmental analysis..........................................62.2 Evaluation of approaches to external environmental analysis ........................................72.3 Explanation of how internal and external analyses are integrated...................................8ACTIVITY 3....................................................................................................................................84.1 Range of strategies that can contribute to their businesses competitive advantage.........84.2 Analysis of marketing communication strategies for the business..................................94.3 Marketing strategies and how they can be applied and implemented by organisation,including resource and management implications...............................................................10CONCLUSION..............................................................................................................................11REFERENCES .............................................................................................................................12
INTRODUCTIONStrategic Marketing is technique used by several organisation in order to separate as wellas differentiate itself from competitors. This is effectively done by capitalising company'sstrength in order to provide consistence value for customers than competitors. It is used mycompanies to identify customers needs and further aim at creating a marketing plan in order toachieve customers satisfaction and improve overall performance of a company which tend atincreasing profitability. Moreover, a company usually creates a written marketing plan whichdedicates what type of marketing strategies will be used by a firm under several circumstance.Through adoption of strategic marketing a business becomes innovative and is able to penetratemarket actively. Moreover, the purpose of this report is to highlight several factors that helps increating effective marketing strategy in order to capture reasonable market share. This report willbasically covers the following aspects: role of strategic marketing within an organisation,relationship between corporate strategy and marketing strategy, analysis of how effectivemarketing strategy should be developed. Furthermore, it will also cover decision as well aschoices which are required to be made at corporate level and assess how these decision willinfluence marketing as well as functional unit in an organisation. Moreover approaches relatingto internal and external environmental analysis would be also considered. At the end of the reportit will also includes range of strategies which contributes a business environment in order toeffectively carry out company's operation. ACITIVITY 11.1 Assessment of role of strategic marketing in an organisation.Strategic Marketing is method used by several organisation in order to effectivelycompete with the tough business world (Aguinis, Edwards and Bradley, 2017). These strategiesare implemented by almost all companies whether small or big this because throughimplementation of these strategies only a firm is able to successfully attain its desired businessobjective within a specific period of time. Strategic marketing within an organisation plays avery important role. This is basically because through strategic marketing an organisationsuccessfully evaluating the current market environment effectively. It helps in assessingperformance as well as positioning of an organisation within the market. However, it veryimportant to know what the essential business resources that the required in order to carry1
activities with proper efficiency. Through these actions the company's overall performancewithin overall competitive environment it highlighted effectively. Furthermore, through strategicmarketing a firm is clear about marketing objectives which are required to be achieved in thecourse of business so that objectives are accomplished within specific time frame and are easilymeasurable. Strategic Marketing also helps in creating products as well as services whichprovides an organization with high amount of profits. This is basically because strategicmarketing is usually started by SWOT analysis under which a particular company takes severalmeasures to identify company's internal as well as external strengths, weakness, threats andopportunity (Ansoff and et.al., 2018). Through this collected information optimal products aswell as services are produces by firms in order to gain high profits. Several department within abusiness usually create a strategic plan in order capture new customers as well as retain the lostcustomers so that the overall revenue earned tends to increase. Therefore, can be concludedwithin a company strategic marketing plays a very curial role because though these strategiescompany is successful in capturing wide market share. 1.2 Analysis of relationship between corporate strategy and marketing strategy.Within a business there are several options available through which objectives andmission are accomplished. Moreover, for this an effective business strategy is required underwhich determination of several aspects is made which includes: product-market scope, functionalarea strategies, intensity of business investment and several other factors. Further, when acompany deals with several segments, the strategy usually includes allotment of resources overdifferent business units. Under business corporate and marketing strategy are two differentplans. In which corporate plan is basically a play book where a business aims at reaching.Whereas, marketing strategy is a framework which usually attract customers to company's finalproducts. Both of these strategies are equally important in order to make activities successful.Corporate and marketing business strategy are discussed below:Corporate Strategy: It is basically a planned collection of measures which are to beachieved in long term by an organisation (Bettis and et.al., 2016). This strategy focuseson managing resources returns as well as risk involved in business. It a blue print of longterm business perspective which aim at ensuring that an organisation focuses on its coreactivities and goals which need to be achieved in future. 2
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