$20 Bonus + 25% OFF +
5
%
Cashback
information
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Discussion Of The Role Of Strategic Marketing In An Organisation

tag 291 Downloads9 Pages 2,209 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Questions:

1. How an organization develops and manages a strategic marketing plan?
 
2. Explains how an organization applies the strategic marketing management techniques in a market situation?

 

 

Answer:

Introduction

The report is all about how an organization develops and manages a strategic marketing plan. The second part explains how an organization applies the strategic marketing management techniques in a market situation.In the first part, the role of strategic marketing is being discussed, i.e. how strategic marketing helps in an organization. The variety of processes such as planning, implementation and control phase involved in strategic marketing are also explained here. The relation between strategic marketing and corporate marketing is also being discussed. Apart from that, various models of a strategic marketing planning as well as the relationship between strategic positioning and marketing tactics are included. The benefits of relationship marketing is also being discussed here. In the second part, the strategic techniques and options are discussed. And also how an external environment affects the organization are discussed.

Discussion of the role of strategic marketing in an organisation.

Strategic marketing is the identification of strengths of an organization which helps the organization in differentiating itself from the competitor. Strategic marketing plays a vital role in an organization as it helps the organization in achieving its goals by utilizing its scarce resources in an effective way. Allocation and utilization of scarce resources in an effective way that helps an organization in increasing its sales and competitiveness. It helps the organization in increasing its capability and effectiveness from the competitor. Strategic marketing confirms that the right materials are being chosen for the production of goods or services. It also confirms that the productions are going as per the customer’s needs (Simerly, 1987).

 

The processes involved in strategic marketing.

Strategic marketing processes helps an organization to reach its target market with the allocation of its marketing mix resources. The process consists of three phase which are explained below:

Planning phase - This phase consists of three steps, i.e.

1. Situation analysis: SWOT analysis helps an organization in increasing its strengths, rectifying its weakness, grabbing opportunities and avoiding situation that can hamper the organizations environment (Ahmad, 2013).

2. Market product focus and goal setting: First of all, marketing and product goals are defined then it selects the target market with the help of market segmentation. The next task is to find out the point of difference. Lastly, the product is positioned in the market (Gilligan and Wilson, 2009).

3. Marketing programme: In this stage, the marketing mix, i.e. product, price, place and promotion are developed and then the budget is being prepared with the help of estimation of revenues, expenses, and profits.

Implementation phase - This phase consist of four steps, i.e. finding resources, designing marketing organization, developing schedules and executing marketing program.

Concept phase - In this phase, the outcomes are compared with the plans in order to find out the changes that has been occurred (Moutinho and Southern, 2010).

Evaluation of the links between strategic marketing and corporate strategy.

Sometimes, both the terms strategic marketing and corporate strategy are used interchangeably but the difference lies in the aim. The aim of corporate strategy is to earn profit for the organization, whereas, that of strategic marketing is to increase the sales of the products. Besides this difference, there are some link and interrelationship between the two which are been explained below-

Value chain- It is the process of making, communicating and delivering a product as per the customer’s needs and wants. It links strategic marketing and corporate strategy (Clegg, 2011). The first link is market sensing, i.e. identifying the target market, the next link is new offering, i.e. making and delivering the product. After this comes the customer acquisition, i.e. promotional activities are carried out to attract customers. The last link is fulfilment management, i.e. related to supplying the product.

Core competency- It is the quality that an organization adopts in order to differentiate it from the competitors. Core competencies are being developed as corporate strategy but advertise as strategic marketing by an organization.

 

Assessing the value of models used in strategic marketing planning.

Strategic marketing planning: - It is an operational and managerial process which helps an organization in making and applying effective marketing strategies (Dess, 2012).

Models – The models used in strategic marketing planning helps the organization in evaluating whether the business is doing better than its competitors or not and also helps in identifying the growth strategies for the future. There are four models used in this process which includes the following-

1. The Ansoff matrix - It is a matrix which identifies opportunities that will help in the growth of the organization (McDonald and Meldrum, n.d.). It involves four growth strategies i.e. market penetration, product development, market development and diversification.

2. BCG matrix - This model was introduced by The Boston Consulting Group (BCG). It is also known as growth share matrix. It consists of four parts, i.e. question mark, star, cash cow and dog.

Discussion of the links between strategic positioning and marketing tactics.

Strategic positioningPositioning is the principle which shows how an organization competes and serves its customers. Positioning helps an organization by creating awareness among the customers (Proctor, 2000).

Marketing tacticsIt is a set of methods which helps in promoting the products of the business in order to increase its sales (Cohen, 1995). An effective marketing tactics helps in satisfying the customers’ needs and assists the business in utilizing its scarce resources in more efficient way to maximize the promotion of its products.

Analysis of the merits of relationship marketing in a given strategic marketing strategy.

Merits of relationship marketing

  • It helps in creating new customers
  • It lessens the marketing and client services costs
  • It helps in the expansion of business as the loyal customers suggest others to buy the products.
  • It increases market share, sales as well as competency.

Usage of the appropriate marketing techniques to ascertain growth opportunities in a market.

The company that is chosen for this report is AB Cakes limited, which is located in Wolverhampton, England. It is related to private limited company, involves in production of different bakery items such as breads, cakes, flour confectionery and sugar confectionary food products.
 
Marketing techniques are the tools used by the marketing department of the company in order to attract more customers and make more profits towards business. As a marketing manager, the below are some of the techniques used by the AB Cakes Ltd.

Setting marketing objective & making Strategies:

Setting objectives and making strategies are the key roles of the marketing management. Hence, AB Cakes Ltd had set objectives to obtain growth, increase sales and maintain market share. Same way, to accelerate the growth of the sales, it has adopted marketing strategies that is, cost leadership (Iuso, 1975). Based on this, the company is getting sugar at low cost from Africa and China.

Target marketing:

The company AB Cakes Ltd. has been focused on the people who are suffering from diabetes and ignoring the sugar products. So, it started introducing the products of sugar free to attract customers and increase the sales.

Become valuable resources:

AB cakes Ltd. made a strategy to promote their products in a valuable and unique way which is liked by everybody. The strategies are made by the management to get the AB products available at easier, less expensive, faster etc.

Planning on using the marketing strategy options in a market

In order to be an efficient and effective business, AB Cakes ltd. has used different marketing strategies in order to seek more customer attraction and increase the sales of the company.

Competitive strategy: The strategy is made by the management to create defendable position in an industry, to cope with the competitive force and there by yield superior returns.

Cost leadership strategy: AB Cakes ltd. is a low cost producer industry which makes quality products in a reasonable price. This strategy is only applicable when there is good distribution channel and raw materials like sugar is getting at a least cost (Kotler and Cox, 1988). For this, company started importing sugar from China and Africa.

 

Creating appropriate strategic marketing objectives for a market.

Marketing objective are the goals set by the company in order to promote the products or services to potential consumers during specific time period. AB Cakes Ltd. also had the marketing objectives to reach the company’s goal such as –

To create awareness among target consumer:

The AB Cakes Company created the awareness among the target customer that it is UK’s one of the popular companies which concerns about the Diabetic patients and introduced healthy and tasty food products.

Produce healthier environment:

This is one of the objectives set by the organization to create healthier life style through their products. It has also been working with many environmental caring trusts to avoid pollution in the process of production (Cohen, 2006). Hence, it is associated with Carbon Trust for more improvement in the production process.

Report on the impact of changes in the external environment on a marketing strategy.

Every business external environment has strong impact on making decision for strategic planning as the business is operated in states. The external environment consists of many important factors (Kotler and Armstrong, 2012) such as.

Environmental factors:

As the company AB involves in supporting the positive changes in the environment and had made the policies and strategies, safer. It has the highest standards for environmental protection and sustainability.

Competition:

The huge completion in the market also impacts on the marketing strategies. Based on the range of the competition, the management has to make changes in marketing objectives and strategies (Burkholder, Edwards and Sartain, 2004).

Customer’s attitude:

It comes under social economic factors which plays key role in influencing the marketing strategy. The attitude of people, such as health consciousness, makes changes to the marketing strategies.

 

Internal analysis to identify current strengths and weaknesses in a marketing strategy

An internal analysis is done to find the strengths and weaknesses of an organization. These factors illustrate the advantage and disadvantages of the company.

Strengths:

  • AB Cakes Company is number one supplier of the UK retail sugar and sweetener market and the food service which produces low calorie sugar products.
  • It is the one of the company which works with carbon trust and committed to reduce carbon emission (Thomas, 2007).
  • It produces some unique products like sugar syrups, sugars for drinks and sprinkling, sauces etc. along with the bakery items.

Weaknesses:

  • The production of sugarcane and sugar beet is mainly based on the climate. Due to the impact of global warming, the production is gradually decreasing and cost of the sugar beets increasing (Thomas, 2007).
  • To meet the customer requirements, the company uses the combination of destocking and supplies from third parties which is affecting the company’s image badly.

Strategic marketing responses to key emerging themes in a marketing strategy.

Globalization:

Globalization is one of the important themes which influenced the marketing strategy for which the organization is now able to export the products and services throughout the world. It makes changes in the strategies of marketing in order to promote the products worldwide.

Technological:

As the technology is growing rapidly, the growth of the AB Cakes company is also involved in growing the sales of the company by adapting new changes to the marketing strategies. The company involves in promoting products by using the TV, social networks etc. to grab the more opportunities of sales (Verbeke, 2009).

Conclusion

Today, the global market has seen immense competition in the market but the AB Cakes Ltd. has occupied the position in the market by applying right marketing strategies at right time. Hence, using the marketing strategies and techniques helped the company in reaching objectives of the company and satisfying customers with their unique services.

 

References

Ahmad, M. (2013). Marketing Case Studies and Swot Analysis. Saarbrücken: LAP LAMBERT Academic Publishing.

Burkholder, N., Edwards, P. and Sartain, L. (2004). On staffing. Hoboken, N.J.: Wiley.

Buttle, F. (1996). Relationship marketing. London: Chapman.

Clegg, S. (2011). Strategy. London: SAGE.

Cohen, W. (1995). The marketing plan. New York: Wiley.

Cohen, W. (2006). The marketing plan. Hoboken, NJ: J. Wiley & Sons.

Dess, G. (2012). Strategic management. New York: McGraw-Hill/Irwin.

Gilligan, C. and Wilson, R. (2009). Strategic marketing planning. Amsterdam: Elsevier/Butterworth-Heinemann.

Iuso, B. (1975). Concept Testing: An Appropriate Approach. Journal of Marketing Research, 12(2), p.228.

Karlöf, B. and Lövingsson, F. (2005). The A-Z of management concepts and models. London: Thorogood.

Kotler, P. and Armstrong, G. (2012). Principles of marketing. Boston: Pearson Prentice Hall.

Kotler, P. and Cox, K. (1988). Marketing management and strategy. Englewood Cliffs, NJ: Prentice-Hall.

McDonald, M. and Meldrum, M. (n.d.). The complete marketer.

Moutinho, L. and Southern, G. (2010). Strategic marketing management. Hampshire, U.K.: Cengage Learning EMEA.

Proctor, T. (2000). Strategic marketing. London: Routledge.

Simerly, R. (1987). Strategic planning and leadership in continuing education. San Francisco, Calif.: Jossey-Bass.

SwaanArons, H. and Waalewijn, P. (1999). A knowledge base representing Porter's five forces model. Rotterdam: RIBES, Rotterdam Institute for Business Economic Studies.

Thomas, A. (2007). Direct marketing in action. Westport, Conn.: Praeger Publishers.

Verbeke, A. (2009). International business strategy. Cambridge: Cambridge University Press.

OR

MyAssignmenthelp.com has appointed best assignment experts who are wizards of words. Our writers know every trick of crafting high quality write-ups within a short period. With years of experiences, we have become one of the most prolific assignment help services in the USA. We deliver custom-made help to students with writing different types of assignments. We guarantee total need-based and timely service, and this is why increasing numbers of students prefer to buy assignment online.

Most Downloaded Sample Of Management

BSBLDR805 Lead And Influence Change

Download : 0 | Pages : 7

Answer: Introduction Leading and influencing change in an organization requires a lot of effort, and the method used to transition through the change process is fundamental. The report’s objective is to identify the appropriate ways in which leaders can influence changes in their businesses for the active growth of the companies. The change that is supposed to increase the inflows of an organization is very beneficial since it enables t...

Read More arrow

BUS201 Business Ethics Environmental Management

Download : 0 | Pages : 16
  • Course Code: BUS201
  • University: Charles Darwin University
  • Country: Australia

Answer: Introduction The importance of business ethics is growing between organisations as the competition become fierce at the global stage. Organisations are focusing on implementing a competitive approach to push boundaries in order to generate a competitive advantage in the industry. Generally, companies find it difficult to comply with the principles of business ethics while implementing the policies for generating a competitive advantag...

Read More arrow

MN2206K Strategic Management And Connectivity

Download : 0 | Pages : 7

Answer: Introduction The prime importance of this unit of the paper is to focus on all Porter’s 6 six forces considering the 5G and its connectivity aspects in the telecommunication industry of Australia and the key issues and challenges that has been detected in the industry within the business years of 2017 and 2018: Figure 1: The Porter’s six forces model (Source: Created by the author) Competition In the latest years, mo...

Read More arrow

BGP7730 Business Research Project Consumer Purchase

Download : 0 | Pages : 16
  • Course Code: BGP7730
  • University: Victoria University
  • Country: Australia

Answer: Introduction The main aim of the paper is pointing out the effect of packaging factors which have significant effect on consumer buying behavior. Additionally it explains how these elements results to the recognitions and acceptance of various brands in the marketplace. Wellman (1999) explains how product packaging influences many people purchasing behavior all around the world. Product labeling and packaging is crucial in drawing mor...

Read More arrow

HI6008 Assignment Requirements Structure

Download : 0 | Pages : 12

Answer: Introduction With the changes in ramified economic conditions and increasing populations, there are several factors which have been impacting the traffic and other complexity in the daily lives of the social human being. It is analyzed that there is direct and indirect relation between   increase in population and effect on different factors like traffic, accidents and all casual problems. Population is studied in terms of a...

Read More arrow
Next
watch

Save Time & improve Grade

Just share your requirement and get a customized solution.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,137,281

Orders

4.9/5

Overall Rating

5,047

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 4/5

2594 Order Completed

95% Response Time

Michael Johnson

Masters of MSc in Economics

Washington, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

440 Order Completed

99% Response Time

Jack Arens

MBA in HRM

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2279 Order Completed

97% Response Time

Zachary Perez

PhD in Computer Science and Information System

Washington, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

234 Order Completed

100% Response Time

Samantha Ji

PhD in Chemistry with Specialization in Organic

Singapore, Singapore

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

It was well organized and references were used properly. While I am reading it I could understand clearly. And I got 100 from this assignment so I am satisfied with this.

flag

User Id: 186794 - 14 Nov 2019

Australia

student rating student rating student rating student rating student rating

professional and very responsive with helping .. great job and thank you.. will you services again

flag

User Id: 341413 - 14 Nov 2019

Australia

student rating student rating student rating student rating student rating

Perfect Assignment. It was done well in advanced and to the point. Very good service Always happy with your services

flag

User Id: 270263 - 14 Nov 2019

Australia

student rating student rating student rating student rating student rating

This is a nice assignment. I really like the style of writing. The professor is an expert in this subject.

flag

User Id: 258281 - 14 Nov 2019

Australia

student rating student rating student rating student rating student rating
Have any Query?