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Corporate Objectives & Marketing Orientation

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Questions:

1. Identify the Concept of Corporate Objectives and evaluate an Organisation with information available in the Public domain.
 
2. Discuss Marketing Orientation Concepts. Explain with examples which concept your Organisation follows.
 
3. What is your Organisation's core Marketing Strategy? Discuss the strengths and weaknesses of the current marketing strategy and explain how this strategy will help your organisation reach its Corporate objectives.
 
 

Answers:

1.The concept of the corporate objectives is defined as a realistic goal which is set by the company as measurable objectives which are based on the internal & external strategic decisions. It is an anticipated time decision & any time deviations upon which the alternative critical path can be chosen to achieve the measurable goals of the company (Gillett, 2015). The company success is drawn on the basis of the objectives achieved which can be defined as per the stipulated timeline from monthly, quarterly to yearly. Corporate objectives are the strategic picture drawn for the firm to function within the framework of operation & performance. When the organization information is available in the public domain, the required pre requested steps for the organization is to key define the objective & certain parameters of operations along with ethics under which it will operate (Monferrer, 2014). For example, when a company like Pepsi have made it public to reach its current year goal plans of increasing the profits by doubling its sales, the key strategy behind it would be to reduce the per bottle cost, expanding in a new territory etc.

 


2.The marketing orientation concepts centres around the customer pre requisite requirements, needs & desires upon which the business model is defined to deliver the products keeping the product & production efficiency. The production concept is defined as consumer preferred products which are widely available & are generally inexpensive. Generally, the production concept is more related to the operations oriented. The selling concept is defined as an orientation of the customers surrounding the product which is only determined when the company does aggressive promotions centring on its products & services. The product concept is defined as customer orientation towards the quality products which are innovative & can deliver high performance which can make them a regular & loyal customer for the product. The marketing concept is to deliver better than the prevailing competitors which inculcate the pull strategy to attract customers (Lehman, 2014). The societal marketing concept is defined as delivering the best class products & services better than the competitors who can serve the customers & the given society. For example in my organisation the customer is termed as a king, for which an innovative product is developed  such as mobile phone with best features (product concept) after which the aggressive selling takes place (selling concept) which is matched with the higher production (production concept) & then with the help of marketing it is made widely available (marketing concept).

3.My organization marketing strategy is to position the product within the given market landscape. Along with it the other marketing strategies is to create a unique brand identity & creating a critical route towards reaching the market & connecting with the wide audiences. The marketing strategy is an integral component which is devised for the business to operate & thrive. It plays a fundamental role while drafting the organization mission along with the formulation of the objectives & the strategic aims. Once my organization has defined a marketing strategy it is easier for my organization to make the marketing plan which includes the goals, budgets & the critical path, tools to reach towards it. The strength of the marketing strategy is creating a ‘brand identity’ within a niche of the given market & the weakness is it would require a high budget allocation in order to reach the marketing strategy (Collins-Dodd, 2015). The other marketing strategy is positioning the product within the market which derives the value proposition which is a key strength. The weakness is to match as per the customer’s expectation. The third strategy is to connect with the masses. The strength is having a market visibility while the weakness is the high funding (Sheth, 2015).

 

References

  1. Collins-Dodd, C., & Francis, J. (2015). The Impact of Export Orientation on the Export Performance of High-Tech SMEs. In Proceedings of the 1999 Academy of Marketing Science (AMS) Annual Conference(pp. 56-56). Springer, Cham.
  2. Lehman, K., & Wickham, M. (2014). Marketing orientation and activities in the arts-marketing context: Introducing a visual artists’ marketing trajectory model. Journal of Marketing Management, 30(7-8), 664-696.
  3. Monferrer, D., Blesa, A., & Ripollés, M. (2014). Ambidextrous in Born Globals through Knowledge-based Dynamic Capabilities and Network Marketing Orientation. Business Research Quarterly, 17(4), 223-304.
  4. Gillett, A. G. (2015). REMARKOR: Relationship Marketing Orientation on Local Government Performance. Journal of Services Research, 15(1), 97.
  5. Sheth, J. N., & Sisodia, R. S. (2015). Does marketing need reform?: Fresh perspectives on the future. Routledge.
OR

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