Strategic Marketing for Vestas: Analysis, Evaluation and Approaches

Strategic Marketing

Table of Contents
INTRODUCTION...............................................................................................................3
MAIN BODY......................................................................................................................3
TASK 1................................................................................................................................3
Analysis of the Strategic Marketing Context...................................................................3
Key Contextual Factor Analysis and Evaluation.............................................................4
Critical Market Context Analysis....................................................................................5
TASK 2................................................................................................................................6
Company Analysis and Evaluation..................................................................................6
Marketing Resources and Capabilities............................................................................7
Analysis of Marketing Assets..........................................................................................7
Critical Resources and Capabilities (Non-Marketing)....................................................7
Competitive Advantage and Competitive Positioning....................................................8
TASK 3................................................................................................................................9
Determination and Evaluation of the Critical Strategic Marketing Approaches.............9
Value-Driven Strategy...................................................................................................10
Innovation Strategies.....................................................................................................10
How to use this approach...............................................................................................11
CONCLUSION..................................................................................................................12
REFERNCES:....................................................................................................................13
Books and Journals:.......................................................................................................13

INTRODUCTION
Strategic marketing is the process in which an organisation is setting goals,
objectives and procedure that how a company can achieve their desired results. Strategic
marketing is used by an organisation for the purpose of making their company more
competitive so that they can beat the competition effectively. It is actually using of
marketing discipline for developing and maintaining of competitive advantage
(Carmichael and O’Brien, 2020). There are many factors that influence organisation's
functions and operations positively or negatively. In order to reduce the negative impact,
it is very necessary for company that they should perform a strategic management
process that includes strategy evaluation, strategy execution and internal organisation
analysis. In this context, Vestas is the company that has a partnership for sustainable
energy solutions. They are designing, manufacturing, installing and servicing wind
turbines. A company wants to become global leaders so they need to understand the role
play of strategic marketing. Along with this, this report will be discussing some important
theories and models in order to achieve their desired result.
MAIN BODY
TASK 1
Analysis of the Strategic Marketing Context
Strategic marketing is defined as the concept which is focusing on use of
marketing discipline in order to achieve organisational goals and objectives. It considered
some important elements that are target market, services that offer by organisation, and
how to promote and price (Sharpe and Hanson, 2020). In the case of Vestas, they are
targeting to become the global leader of sustainable energy solutions. It is identified that
this company is doing very well in the market but due to many external factors they have
to use some important strategic marketing models so that they can promote their goods in
an effective way. For that purpose, Vestas need to critically identifying and analysing the
external environment factors that affect their organisation.

Key Contextual Factor Analysis and Evaluation
It is crucial for Vestas that they should analyse the factors that affect on their
organisation's operations and functions. Vestas is targeting that they become a global
leader but there are many factors that affects their goals and objectives. So that's why
they have to use strategic marketing in order to achieve their goals and objectives. There
are some factors that are mentioned below that come from external environment:
Competition
It is identifying that day by day the competition is increasing due to new entrants
in the market. This is very necessary for Vestas that they should reduce the competition
with their products (Qureshi, Aziz and Mian, 2017). Company should evaluate the
strategies of their competitors so that they can modify their strategies that affect on their
success and growth. One important reason of competition is now every organisation
makes a budget for spending on their marketing tools. As they understand the importance
of marketing tools such as marketing mix, STP, etc. due top this, people are getting aware
about the products and services of organisation that increase competition in global
market.
Corporate social responsibility
It is identifying by that corporate social responsibility becomes the factors that
affect on organisation's operations. As now company needs to make the marketing
strategy in such a way so that they can promote their goods and services in a sustainable
way. This is the reason that why now organisation is required to use strategic
management.
From the discussion of above external factors, there are some more factors that
affect organisational success and growth. So some additional factors are mentioned below
that should be considered by organisation:
Factors Importance
Environment Factors It is very necessary for Vestas that they should considered
environment factors as they are manufacturing wind turbine
(Hollebeek and Andreassen, 2018). So they required to analyse the
environment in order to produce products.