Strategic marketing encompasses many different aspects and can be a complex process. However, there are some basic steps that all companies should follow. First, an organization must research the market and identify its target market. It should also detect what its customers need and what they already have.
Next, a company should develop a unique selling proposition to make its products or services stand out from the competition. Once these two elements are in place, you should then create a marketing mix that includes product, price, location, promotion, and people.
Finally, a company needs to measure and evaluate its results to make necessary adjustments. If you need to write a paper on this process, EssayBizLab has got your back, we have numerous essay samples on the topic. Check them out.
Monitoring and controlling marketing strategy depend on factors that include: Promotion, Bookkeeping, Order Handling, and Return on Investment. The four measures are detailed below in detail. Promotion This refers to the strategies that companies use to ensure that potential consumers receive information regarding new products in the market. Promotion is...
Demographic data consist of components that make up the demographics of a particular population. Demographics are the qualities of a sample population. When these qualities are put together for any particular purpose, it becomes demographic data. A marketer uses recent demographic data of a region to predict his target market...
Introduction A well-defined and cost-effective marketing strategy is most often determined by successfully connecting customer needs with the most likely feasible goals. While most companies are now engaged in extensive marketing, only a few of them have created or managed to create good conditions for customer loyalty and loyalty to...
The objective of UMS Company is to accelerate significant and profitable growth by providing comfort to other people. This objective statement can be deduced to focus on growth maximization. It portrays the marketing intentions of UMS Company on its brand name to win the trust of many consumers in India...
The airline industry has been facing challenges with increased competition, the need to adopt new technologies, fluctuations in oil prices, new expansion strategies and entrance to other countries. The changes have required innovation and research to take measures that help the airlines offer quality service at reasonable prices hence receiving...
Marketing strategies of a business in the global environment is different from that of a local or national business environment. A global marketing environment necessitates policies and strategies focused on creating global customer satisfaction and capable of competing with global competitors. In the local or national business environment, the marketing...
Network effects arise from the fact that the value of a product is determined by the increase in the number of users. Network effects can either be direct or indirect; the direct network effects involve a lot of communication whereby the value attached to a consumer is considered high when...
A decision to standardize or adapt a product policy in the European markets depends on the advantages that are associated with each approach in terms of enhancing the development of an effective market strategy to ensure high sales volumes for the A&F products. Vrontis and Thrassou inform that strategies encompass...
Product Selection Gourmet truffles with fruit, herb, and flower extract infusions obtain popularity among different age groups. Technavio (n.d.) said the truffle chocolate market could expand to 1.45 billion USD in 2020-2024. Gourmet truffles have a broad market in Asia, Oceania, and South America, growing fast. The product is top-rated...
The implementation of search engine optimization, or SEO, to a company’s digital marketing strategy, has shown consistently positive results in terms of ROI while often keeping negative features such as high costs of paid advertising and the lack of long-term effectiveness to a minimum (Advantages and disadvantages of digital marketing,...
Supporting the development of sales and marketing strategy, using customer data to personalize their interactions, as well as identifying potential clients, and generating leads are reasons why the CRM system is the backbone of a modern digital marketing campaign. CRM systems are game-changers in marketing communication since they enable marketers...
Introduction Technological advancement is an initiative that prominently fostered the intensification of business competition globally. One of the entities facing significant evolution is online marketing in China. An excellent example is the emergence of the Freshippo supermarket that merges both online and offline aspects during shopping for clients. In 2016,...
McDonald’s has undergone many business strategies, product sales, and conditions for customers during its existence. According to the study by Dess et al. (2020), the company’s total revenue fell from $ 24,622 million in 2016 to $ 21,025 million in 2018. Hence, the company needed to rethink its products and...
Publix is one of the leading private retailing chains in the United States, and the company’s success depends on the effective marketing strategies developed with references to using the appropriate marketing information system (MIS) (Kotler & Keller, 2012, p. 69). Thus, the company founded in 1930 pays much attention to...
The SARS-CoV-2 (COVID-19) pandemic has impacted not only lives and livelihoods globally but also customer experiences and business models. It was the worst global recession since World War II, with the world economy contracting by 3.5% in 2020 (International Monetary Fund, 2021). Available economic data illustrate that the severe restrictions...
The case study in the media category on the “Importance of Maintaining a Cross-Media Ad Strategy Through a Crisis” by O’Grady and Strazzera considers the need to sustain brand advertising in the light of the novel pandemic and its long-term influence on customer behaviors. The reduction in advertising could be...
Social media is swiftly becoming a critical business tool because it offers numerous benefits to companies, enabling them to connect and meaningfully interact with their customers and gain the attention of their target audience. Studies indicate that the use of online resources allows firms to gain exposure, influence buyer decisions,...
The company’s target market will consist of major international corporations and government organizations. Organizing conferences, meetings, and other large-scale professional and business events will be the company’s primary focus. Events of that type are used to raise morale, reinforce team cohesion, establish useful relationships inside and outside the organization, and...
Introduction Sustainability is a very important part of contemporary business practices because it enables businesses full fill the needs of the present population without threatening the ability of future generations to meet their own needs. Sustainability makes it possible for businesses to focus completely on the various components of the...
Abstract Both companies, Red Bull and Coca-Cola invest heavily in the use of sports marketing, events, TV/Cinema, magazines, radio, relationships, sponsorship programs, and sports among other techniques in promoting their energy drinks in the market with different implications on the market. Each of the companies uses different approaches to conduct...
The Carphone Warehouse is one of the most successful telecommunications businesses in the UK. It is now Europe’s leading independent retailer of mobile phones and services, with over 2,144 stores that combine a retail operation across 10 countries with an extensive and growing telecommunications services business. Today it is operating...
Introduction A pricing strategy is a premeditated option from a number of substitute price schedules or prices, which are employed towards maximizing profits within a given duration, in reaction to a certain situation. Pricing strategy is a very crucial approach in the running of hotel businesses; mainly because the industry...
Introduction Background FMCG (Fast Moving Consumer Goods) needs different marketing strategy from other goods. FMCG markets are extremely competitive as compare to the other markets, as FMCG market moves with much faster pace than others. Over a month, a quarter, or a year, the sales of any brand are determined...
Introduction The purpose of business is to create and keep a customer. Peter Drucker Customer engagement as a concept has received recent hype in the marketing literature. Both academicians and practitioners have perceived this concept to be a new era in developing and retaining customers. The reason behind this is...
Introduction Strategic marketing is the “management function responsible for identifying, anticipating and satisfying customer requirements profitably” (Loudon, Stevens, & Wrenn, 2004, p. 21). The focus of strategic marketing is to address marketing complexities, customers’ expectations, as well as, to align the business to changes in the market. Strategic marketing enables...
Structure of the Dissertation This dissertation consists of six chapters. Chapter I is introductory. The chapter presents the background of the study, the problem statement discussing the importance of the study, research questions and objectives of the study; it discusses the scope of the research and its contribution to the...
Introduction This chapter presents a detailed discussion of the study findings and hypotheses testing in the context of theories and past studies and provides the implications for knowledge, managers, and policy-makers, as well as limitations and directions for further study. Thus, the chapter is divided into several sections. The first...
Abstract The retention of passengers is an essential prerequisite for Sharjah airport to achieve a sustainable competitive advantage in the region; this is critical to all Sharjah airport stakeholders in terms of resource planning, retail revenues increase, improved passenger experience, strategic plan formulation, and security measures. By studying passengers’ flows...
Introduction Company Description Unlike imagination of many people around the world, Dr. Pepper/7Up Inc. is a division of Cadbury plc, which again, is the world’s third largest soft drink manufacturing company. Similarly, Cadbury Plc Company is ranked fourth among the confectionary companies with most products selling in over 200 countries...
Introduction Market-Based Management aims at ensuring the success of an organization by transforming its focus and structure into more accountability for each action taken by each member of the organization. The concept relies on the Austrian school of economics views of the benefits of management and realization of profit under...
Introduction Statement of objective: Research Question The principal question considered in this project is: Can a strategic move be undertaken which will increase the opportunity for sustained high performance in the insurance brokerage industry related to premium financing? The objective is to apply a formal framework to facilitate strategy development...
Executive Summary This dissertation effort with ‘Comparison of marketing strategies of two mobile operators Life and Mobile TeleSystems (MTS) to becoming the Market Leader of Belarus’ has dealt with the marketing strategies of two mobile operators working in the same geographical area of Belarus and their drives to becoming the...
Product and Price Apple is a renowned organization, which is involved in the development of technological devices and offering services related to information technology. Apple offers a range of devices, which include mobile phones, computers, tablets, music gadgets, software products, and services to their customers. The company has invested heavily...
Description of the Target Market The Coca-Cola Company is the second largest soft drinks company in the UAE after Pepsi Cola. The company had entered the market earlier, but it faced low sales volume and discrimination from the buyers for its perceived association and support for Israel. As one of...
Introduction Foreign Market Entry Decision Foreign market entry can take different shapes depending on the targeted business goals and costs. The major market-entry decisions are discussed below. Licensing: This kind of arrangement occurs when “a licensor grants the rights to intangible property to another company for a certain period of...
The business environment is dynamic and highly competitive. Staying afloat and remaining profitable have become more complicated. The number of new business entrances and the number of collapsing ones have increased in the recent years. The principal reason for success in some quarters is attributed to excellent management and effective...
Information Needed by Potential Customers It is important to note that there are vital details that customers need to know about a particular business (Graeme, 2005). Needless to say, such information should be adequate and precise enough for easy understanding. Notably, a potential customer should have the address of the...
The main objective of any firm is not just making profits but the highest possible profits. Companies are willing to go out of their way to ensure that they reap the most out of their business activities even if this may mean teaming up with their fiercest rivals in business....
The essay is an in depth analysis of health care marketing. This is attained by critically evaluating and addressing two major questions; listing and describing the four Ps of marketing and describing what is meant by product oriented organization against market oriented organization. Healthcare marketing is equally important in promoting...
Introduction The Apple Inc. is an Information Technology Company (ICT) that manufactures and distributes computers, mobile phones, and wearable devices among other products. The multinational company adopts various marketing strategies that promote its sales. This report provides an insight into the marketing plan, target customers, and decision-making processes that underpin...
Introduction Rose Partyware is faced with a serious dilemma on the appropriate method that should be used to market its products. It is clear that Rose Partyware is one of the leading manufacturers of paper goods such as plates, cups, bowls, table-clothes, napkins, crepe-paper, and favors, among others. Tom is...
Introduction Marketing is one of the most crucial undertakings that define the success and profitability of organizations (Haig, 47). As such, it becomes very important to understand the strategies and how to apply them appropriately (Behrer 97). Essentially, the market changes continuously because the forces of the business are always...
Introduction Changes in global business coupled with the unpredictable consumer demand have led to businesses encountering problems when managing their supply chains. Foggin, Mentzer, and Monroe allege “ We continue to see organizations adhering to the same supply chain management practices that they have been using for the past five...
Introduction PepsiCo Inc. is the second largest international company producing soft beverages and the global leading manufacturer of chips and other convenient snacks. The market for carbonated drinks is highly competitive, which accounts for the fact that both competing giants, Coca-Cola and PepsiCo, now have to look for growth opportunities...
