MKTG7886C/MKTG7976C: Adjusting Marketing Strategy for Stingray's ARLS

This report analyzes the marketing strategy of Stingray, a Canadian company providing electronic items. The assignment focuses on adjusting the marketing strategy to better cater to customer needs, specifically examining the ARLS product. It identifies customer pressure points such as quantity, quality, price, and brand image. The report proposes adjustments to the marketing mix, including product, price, place, and promotion strategies. It explains how these variations will help meet marketing objectives and discusses product positioning, testing new features, and the role of customers in the digital marketing environment. The report concludes that adjusting marketing strategies is crucial for achieving company goals and includes references to relevant academic sources.

Adjust
Marketing
Strategy

INTRODUCTION
Marketing Strategy refers to the way in which a Business is able to make sure that the
different types of Marketing Goals and Objectives can be set out so that the attainment of these
particular Goals and Objectives can be carried out quite appropriately in a proper manner. This
project is based on Stingray which is a Canadian Company providing a wide variety of electronic
items to its different customers in the market and therefore in this way ensures that it is able to
satisfy the various types of needs and requirements of the customers who have a requirement for
electronic products in the market. In this report, a detailed focus will be made on the adjustment
of the marketing strategy so that it is able to cater to the needs and requirement of the customers
quite properly.
MAIN BODY
Customer Pressure Points- Stingray needs to focus on the Customers so that it is able to
ensure that it can enhance the overall revenues and also the level of profitability. This is so
because by targeting the customers the company will be able to make sure that it is able to
enhance the level of revenues. The Customer Pressure Points will be as follows-
 Quantity- Customers desire that a higher quantity of goods can be provided to them at
the same price. Stingray therefore is required to bring an enhancement in the quantity of
goods provided to the customers.
 Quality- Customers desire that good quality of goods is provided to them at reasonable
prices. Stingray therefore has to provide an optimum quality of the goods to the
customers in the market.
 Price- Customers desire that the pricing of the products is set in such a manner so that
they are able to make sure that they can get good-quality products effectively and
efficiently. Stingray therefore has to make sure that it is able to maintain an optimum
level of price for its goods and services in the market which will help it a lot.
 Brand Image- Customers prefer that the company from which they are buying products
and availing services should have a good Brand Image. Stingray therefore is required to
make sure that it is able to maintain a proper Brand Image in the market which will help
it a lot.
Adjusted Marketing Mix-
 Product- Stingray will be required to make sure that it brings the required improvements
in its products which will help it in targeting the customers in a proper manner.
 Price- Stingray will make use of competitive pricing strategy so that it is able to ensure
that it can maintain a right price in the market and gain a strategic edge over the
competitors effectively and efficiently.

 Place- Stingray will be required to target an expansion at different places which will be
thus helpful in ensuring that the company is able to attain a higher-level of efficiency and
effectiveness.
 Promotion- Stingray will make the use of advanced promotional methods and strategies
so that it is able to make sure that it targets the right customers and therefore attain its
wide variety of goals and objectives.
Explanation of the variations and the way in which they will help in meeting
marketing objectives-
Stingray has made all the required adjustments in its marketing strategy which has
allowed it to be able to meet the wide variety of marketing objectives. Therefore, it is
quite important that the company is able to make sure that by making the required level
of adjustments in the marketing strategy the marketing objectives can be met because the
marketing strategies and methods can be applied in a better way in such a case.
Product Positioning-
Stingray will make the use of Product Positioning in such a manner so that it is able to
ensure that the products are positioned in such a way so that maximum benefits can be
derived from them in a proper manner which will help the company a lot.
Testing of the new features-
It is important for Stingray to test the new features in the market as it will be helpful in
removing the deviations and variations if any and therefore will lead towards the
attainment of the future goals and objectives in a right way and thus this will be quite
helpful for the different types of customers. This will be quite helpful for it to make sure
that it is able to attain its particular goals and objectives. The testing of the new features
of the products of the company will be done by it to remove problems and issues if any
from them.
Role of the customers in the Digital Marketing Environment-
There is a particular role which is played by the customers in the Digital Marketing
Environment. Thus, it is important from the point of view of Stingray that the Digital
Marketing Environment is maintained which will thus lead towards ensuring that the
customers are provided appropriate products and services.
Use of adjusted marketing strategy-
The use of adjusted marketing strategy will be made by Stingray to attain its goals and
objectives related with profitability. The alterations of the Marketing Strategy can be
made in the following manner-

 If one or more components are altered it will impact the marketing strategy because the
company will be required to make sure that it achieves its marketing goals and objectives
clearly.
 Adjustment of the components of marketing mix can be done in such a manner so that the
marketing efficiency and effectiveness of the company can be enhanced.
 The monitoring of marketing mix can be done in such a manner so that the attainment of
the marketing goals and objectives can be done by altering strategies as required.
 Cultural, Social, Personal and Psychological influences can be created on Consumer
Behavior which can be helpful in ensuring that the Customers are able to make their
buying decisions accordingly.
CONCLUSION
From the above presentation, it can be concluded that Marketing Strategy refers to the
various components of marketing which can be applied in such a manner so that the attainment
of the particular goals and objectives in the future can be carried out quite appropriately.
Therefore, it is quite important that the adjustment in these strategies can be carried out
according to the needs and requirements of the company.

REFERENCES
Chou, S. F. and et.al., 2020. Identifying the critical factors of customer behavior: An integration
perspective of marketing strategy and components of attitudes. Journal of Retailing and
Consumer Services. 55. p.102113.
Tozanlı, Ö., Kongar, E. and Gupta, S. M., 2020. Trade-in-to-upgrade as a marketing strategy in
disassembly-to-order systems at the edge of blockchain technology. International Journal of
Production Research. 58(23). pp.7183-7200.