Strategic Marketing Plan: Best Cost Provider for Market Leadership

This report provides a marketing strategy analysis for Foundation Fast Track, recommending a best-cost provider approach to achieve a competitive advantage. The strategy focuses on minimizing costs in areas such as research and development, raw material procurement, and production to maintain affordable prices and increase market share. Immediate requirements include planning and review programs to monitor variances after implementation. Long-term focus is on customer retention and satisfaction to enhance market share and generate higher net profits for shareholders. The report references works by Kotler, Burton, Deans, Brown & Armstrong (2015) and Lovelock & Patterson (2015) to support the strategic recommendations.

Running head: MARKETING STRATEGY 1
Marketing Strategy

MARKETING STRATEGY 2
Contents
Analysis...........................................................................................................................................3
Strategy............................................................................................................................................3
Immediate Requirement...................................................................................................................3
Long term focus...............................................................................................................................3
References........................................................................................................................................5

MARKETING STRATEGY 3
Analysis
The analysis after the research reflects there are certain strategies which can be utilized in
order to exceed the normal standards. On the basis of the reports data, products and services and
the industry to which the company belongs the following strategy is utilized.
Strategy
The best cost provider strategy will be the most suitable strategy and the major reason
behind choosing such strategy is it will assist the company in gearing up with the competitive
advantage in comparison to the competitors in every segment of the company. Out there are
enormous competitors having the differentiated strategy in terms of the products and services
and Foundation Fast track can lead if the costs such as research and development, procurement
of raw materials and the production costs are kept minimum (Kotler, Burton, Deans, Brown &
Armstrong, 2015).
Immediate Requirement
Eventually this will allow the company to maintain a static price to operate and the
affordable prices will help the company in grabbing the greater market share. The major strength
to this approach is the price is below the market average. The immediate things that require focus
to actualize the strategy is to conduct a proper planning and review program to get the insights of
the variances after the implementation of the broad cost provider strategy.
Long term focus
Long term focus from the point of view of the Fast track is to retain the customers by
considering the customer aspect first and to ensure the customer satisfaction. The strategy will

MARKETING STRATEGY 4
only enhance the market share of the Fast track but also generate more net profit to be
attributable to its shareholders (Lovelock & Patterson, 2015).

MARKETING STRATEGY 5
References
Kotler, P., Burton, S., Deans, K., Brown, L., & Armstrong, G. (2015). Marketing. Pearson
Higher Education AU.
Lovelock, C., & Patterson, P. (2015). Services marketing. Pearson Australia.