Strategic Marketing Planning for Zara: Objectives and Analysis Report

This report provides a strategic marketing analysis of Zara, a prominent retail company. It begins with an introduction to strategic marketing planning and its significance in business growth. The main body assesses Zara's corporate and business strategic objectives, focusing on resource allocation, organizational design, portfolio management, and increasing shareholder returns. It also explores business strategies such as improving operational efficiency, introducing new products, and fostering customer and supplier relationships. The report delves into marketing theories, including the marketing mix (product, price, place, and promotion), and provides a brief history of Zara. Furthermore, it applies the SMART plan to evaluate Zara's business and cooperative studies, ensuring specific, measurable, attainable, relevant, and time-bound objectives. The report concludes by emphasizing the importance of strategic marketing planning for achieving organizational goals and future growth, supported by various marketing theories and strategies. References to relevant books and journals are also included.

STRATEGIC MARKETING PLANNING
Contents
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INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Assess the corporate and business strategic objectives of the SME organization.......................3
P1 Corporate strategies objectives...............................................................................................3
P3. History of ZARA...................................................................................................................5
P4: What is Zara cooperate and business objectives...................................................................5
CONCLUSION................................................................................................................................6
REFRENCES...................................................................................................................................7
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INTRODUCTION
Strategic marketing planning is a process in which the company creates the marketing strategies
and implements it in the target market (Assenova, 2018). It helps in identifying and evaluating
the opportunities in a proper manner and has the future growth. It is a complicated and the long
term process in which targets are accomplished in an organization and can earn profit in the
future. The company used in this report is Zara which is a retail company and had its
headquarters in Spain and was founded in the year 1975. The topic covered under this report is
the business strategies and objectives.
MAIN BODY
Assess the corporate and business strategic objectives of the SME organization
As Marketing strategies are adopted by the companies so that they have the growth in the
future and can have the profits in the near future. The organization adopt various strategies such
as corporate and business strategies which makes the work easy in an organization and from that
basis only the company take the decisions. Zara adopt these strategies which make the flow of
work easy in an organization and can take the decision by which they get the benefit in the
future. This SME organization helps in maintaining the revenue so that company will not get
affect.
P1 Corporate strategies objectives
Corporate strategies refer to the strategic decision making and helps in determining the
value of an organization in a proper manner (McCamley and Gilmore, 2018). These build on the
top of the business strategy of an individual company.
 Allocation of resource: It helps in focusing on two resources the people and the capital
which helps in maximizing the value of the firm and allocating them in proper manner. It
helps in adjusting the risk and identifying the opportunities properly.
 Organizational design: It is a structure which helps in creating the maximum value of
money and helps in taking the decisions from top to bottom, their business units and their
commitments towards the smaller projects.
 Portfolio management: It looks like a business unit and their correlation with the
organization and helps in managing the risk in an organization and has the growth in the
future.
 Increasing shareholder return: The company helps in increasing the return of the
shareholders as the company may earn the high returns on the money they have invested
and have the future growth. Zara Companyhas the high shareholders returns and may
have the growth in future.
P2 Business strategies objectives
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Improved Operational Efficiency: The Company has to improve the efficiency and the
productivity by having different operations which helps in improving the technology and allow
the company to save the money.
New Means of Making Money: It helps in introducing the new products which help them in
earning the profit and the company may have the growth in the future (David, David and David,
2017). As Zara company may introduce the new products so they have the good share in market.
Customer and Supplier Relationships: There should be a good relationship between the supplier
and the customer so the decisions regarding the company growth are to be taken properly and
helps in knowing the customer in proper manner which helps in providing the better service.
Zara Company has the good relationship with their customers and helps in providing better
services.
Improving the Decision-Making: It become easier when the customers know each other as it
helps in understanding the individual view. Zara Company takes the decisions when it is related
to the company views.
Marketing theory
Various marketing theories are studied which helps the Zara company to perform better
and helps in knowing how to attract the customer and helps in generating the revenues for the
future growth of an organization.
Marketing mix: It helps in determining the product or the brands offered to the customers and
from that the decisions are to be taken properly. Zara Company uses this theory which helps in
determining the positions and has growth.
Product: Products helps in determining the task of an individual what they want and fulfilling
their needs by supplying their demanded products to them. Zara Company supplies the product
to its customer of their demand so that they get attracted and can earn the profit. The changing
needs of the customer are provided by the Zara.
Price: The product sell by the company have the good value and the quality of the product
should be good so that the customer will pay the high price for it. Price of the product is not so
high and not so low so the targeted customers will be targeted easily. Zara company have the
products of all the price by which the person get attracted and have the growth and profit is to be
earned.
Place: The product sell by the company is to be easily available to the customers they do not
have to search them. The places should be in reach of the target customers. Zara Company has
their stores in the reach of the customers and will be attracted because of the developed place and
have the online stores also (Tomczak, Reinecke and Kuss, 2017).
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Promotion: Advertising, personal selling’s are the communication tool of an organization and
helps in getting the correct audiences and will hear about the products and know the brands. Zara
have the good promotion and target customer get attracted easily by their promotion techniques
and offers discounts for customer.
P3. History of ZARA
Zara is a Spanish clothes accessories brand and have the latest fashion and the high
quality of products which makes the customer more attracted. The company was founded in the
year 1974 and a public sector company and has its headquarters in Spain. It was started when
the Ortega start establishing the Dress making factory in the year 1963 and after ten years the
stored name as Zorbas. Later on without any intention the name is changed to Zara and now it is
a world famous retail store that is expanding all over the country. Zara has around 6500 stores
across the 88 countries. The main focus is on the street fashion which is changing as per the new
trend and the looks liked by the people.
P4: What is Zara cooperate and business objectives
SMART plan is used to identify the ZARA business and the cooperative studies which
helps in reaching the goals in an organization in proper manner and helps in achieving the target.
Smart plans refers to the Specific, Measurable, Attainable, relevant and time bound which helps
in taking the decisions in more clear manner and the targets are to be achieved properly.
Specific: It helps in identifying what is actually expected in the future so the company
may have the long term growth and able to work in a proper environment. Zara has to expand his
business and should launch the new products which helps in increasing the revenue and helps in
providing the long term growth in the business.
Measurable: It helps in matching the work with the desired task weather the goals are
meet in the organization or not (Stone, 2020). Zara has decided the targets of sales to be achieved
in the year and the performance is to measured to know whether the goals can be achieved or not
so the decisions are to be taken properly.
Attainable: Objectives decided by the organization are to be realistic and within the reach
so the individual have an ability to complete the task in an proper manner. If the targets are not
achievable by the Zara Company then they should change the strategies and adopt new things so
that there is a growth in the business.
Relevant: The matter in the organization are relevant enough as there is no unnecessary
work which affect the Zara company so the work done is relevant and helps in gaining the good
results and the profits in the future.
Time bound: It helps in providing an expected achievement in an organization and helps
in taking the decision within a time. Like the Zara company takes quickly decision regarding the
new trends so that the person get attracted easily and helps in providing the growth.
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CONCLUSION
Strategic marketing planning is a managerial process and an ongoing process so the
decisions are to be taken in a proper manner and will have a future growth and can earn the
profits. It makes the opportunities available in an organization. The targeted profits are delivered
in an organization properly. The various marketing theories like the marketing mix and the
SWOT analysis are studied to know the organization position and will have the growth in the
future and the decisions regarding the company are taken properly. Various corporate and
business strategies are studied like the resource allocation their returns their decision making of
the organization.
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REFRENCES
Books & Journals
Assenova, M., 2018. Scope, Specifications and Elements of Strategic Marketing planning in
Banks. Entrepreneurship. 6(1). pp.34-48.
David, M. E., David, F. R. and David, F. R., 2017. The quantitative strategic planning matrix: a
new marketing tool. Journal of strategic Marketing. 25(4). pp.342-352.
Hollensen, S., 2019. Marketing management: A relationship approach. Pearson Education.
McCamley, C. and Gilmore, A., 2018. Strategic marketing planning for heritage tourism: a
conceptual model and empirical findings from two emerging heritage regions. Journal of
Strategic Marketing. 26(2). pp.156-173.
Stone, M. and et. al., 2020. Artificial intelligence (AI) in strategic marketing decision-making: a
research agenda. The Bottom Line.
Tomczak, T., Reinecke, S. and Kuss, A., 2017. Strategic marketing: Market-oriented corporate
and business unit planning. Springer.
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