Advantage of Strategic Marketing for Business Development

This analysis is highlighted that strategic marketing has crucial to get competitive advantage in the market. It has helped to develop an appropriate plan to create communicate with Get Online Marketing Dissertation Help Service in the UK at Affordable Pricethe customers and increase the demand of product. and help how to take dissertation help in UK

Transcript

1. Get Online Marketing Dissertation Help Service in the UK at Affordable Price Strategic Marketing A Sample Report on Strategic Marketing To Buy Complete Assignment: Contact us: Phone No.: +44 203 8681 671 Mail us: help@instantassignmenthelp.com Website: https://www.instantassignmenthelp.com
2. Get Online Marketing Dissertation Help Service in the UK at Affordable Price Table of Contents INTRODUCTION ...........................................................................................................................3 TASK 1 ............................................................................................................................................3 1.1 Role of strategic marketing .............................................................................................. 3 1.2 Analysis of the relationship between corporate strategy and marketing strategy ............ 4 1.3 Development of marketing strategy ................................................................................. 4 TASK 2 ............................................................................................................................................5 2.1 Analyses of decisions and choices that are made at the corporate level .......................... 5 2.2 Decisions influence marketing at business unit and functional level............................... 5 2.3 Approaches to competitive positioning of organisations ................................................. 6 TASK 3 ............................................................................................................................................7 3.1 Evaluation of approaches to internal environmental analysis .......................................... 7 3.2 Evaluation of approaches for external environment analysis .......................................... 7 3.3 External and internal analysis are integrated ................................................................... 9 TASK 4 ............................................................................................................................................9 4.1 Range of business strategy ............................................................................................... 9 4.2 Marketing communication strategies for the business of Vodafone ................................ 9 4.3 Implementation of marketing strategy including the resources and management ......... 10 CONCLUSION ..............................................................................................................................10 REFERENCES ..............................................................................................................................12
3. Get Online Marketing Dissertation Help Service in the UK at Affordable Price INTRODUCTION Strategic marketing is crucial for the organisation to carry out the marketing planning to accomplish short and long term goal in an effective manner. It provides a framework to the company to perform their commercial operations with efficiency to get competitive advantages (Šimberová, 2014). The present report is based on strategic marketing of Vodafone which is a multinational telecommunication organisation which provides various services such as the high quality voice call, super fast internet service 4G in 150 different nations worldwide. The report consists of principles of marketing, development plan of strategic marketing along with micro and macro environmental analysis and interrelation of these two elements. The purpose of the report is to provide opportunities to the learner to understand importance of the strategic market in the corporate sector. TASK 1 1.1 Role of strategic marketing Strategic marketing is an important aspect of the marketing concept. Total marketing solution is process of an organization that is engaged with providing required guidelines and recommendations to various medium and large scale organizations involved in carrying out business activities in the international market. The cited organization has well considered the fact that each activity performed is directly or indirectly related to the concept of marketing. Strategic marketing is therefore having a wider scope that includes designing strategies or modifying the same for enhancing its effectiveness. Role of strategic marketing has been discussed below:  Analysing the market condition for collecting required information on different marketing aspects Considering latest networking services provided by the competitors in networking industry (Theodosiou, Kehagias and Katsikea, 2012).  Comparing strategies and policies with the objectives to be attained.  Designing new marketing plan to align with requirements of customers in the market.  Framing appropriate policies with respect to production of services, promotion and distributional methods to be adopted by attracting potential customers.  Strategic marketing controls various functional activities such as researching on promotional activities to effectively align with objectives of organization considered in the report ((Frazier and et.al., 2009).
4. Get Online Marketing Dissertation Help Service in the UK at Affordable Price Strategies designed by the cited organization are flexible enough to bring in required changes as demanded by the time. Effectiveness of concept of strategic marketing is the blueprint of success for the cited organization. Thus, Vodafone has effectively applied principles of strategic marketing in its various business activities. 1.2 Analysis of the relationship between corporate strategy and marketing strategy Corporate and marketing strategies are closely related with each other. While the corporate strategy covers all the function of corporation but the marketing blueprint is customer oriented which aims to understand the demand of the customer and supply of the offered service by organisation. In the stated scenario, the corporate consist to defeat market competition in against the rivalries firm but the promotional planning of Vodafone is restricted only to increase the demand of internet service by 5% in following 3 months (Grinstein, 2008). The first strategy of company has included all the department of firm such as the work allocation, human resource management, training and development, fund management etc., while the marketing only involves promotion planning. Thus, it can be said that marketing strategy is a part of corporate strategy and it is related with overall business operation of company. 1.3 Development of marketing strategy Marketing strategy provides framework to business organisation to perform their promotional activities in an effective manner to gain the attention and demand for their product or service in the targeted market. Effective blueprint of promotion assist the management of the organisation to capture huge share through increasing sales and revenue of the firm. There are number of factors which are involved in the marketing strategy: Market analysis: It is crucial to understand by the top management of business, market situations influence the decision of management. In the present scenario, Vodafone have good image (Reibstein, Day and Wind, 2009). Generally, internal and external environment helps to understand the current as well as future trends. Objective of marketing strategy: The next step determines the mission of business. Vodafone is looking to introduce its 4G internet service in the rural region of country. Segmentation, targeting and positioning: The further stage of strategy development of conduct the STP process, in this scenario internet service for youth and corporate people are targeted by the company.
5. Get Online Marketing Dissertation Help Service in the UK at Affordable Price Management of marketing mix: It includes the 4P's (product, price, promotion and place) along with the three additional 3P's of marketing mix people, process and physical evidence. Expertise knowledge of management department helps to communicate with demand- supply of the offered product (Chen, Ganesan and Liu, 2009). Strategy formulation: In the next stage, the company generates a blueprint to offer their services; the above described factor which helps to establish the promotional strategy. Implementation: In this step, management applies blueprint to review the output. Follow up: The ultimate stage of marketing strategy is to assess the impact of it and make suitable adjustment which is required in the adopted plan. Task 2 2.1 Analyses of decisions and choices that are made at the corporate level At Vodafone, the decisions take places on the basis of three different categories of the organisation, such as operational, strategic and tactical. The functional decision is related with the daily based operations to coordinate various activities of company to develop routine activities like production and promotional tasks of the firm to meet their missions. Tactical refers to making business plan to achieve short range objective of the corporation. It helps the top management to analyse the their internal strength as well as weakness to enhance the efficiency to face the market competition to increase their profit and market share which is essential for the organization’s growth (Stevens and et.al., 2008). Strategic decisions are made for the long term organisational goals. Change as well as productivity is benchmarks to measure the efficiency to achieve their visions. Process of decision is related with culture of firm. Better work environment aids to develop suitable actions to increase productivity. For example, employees centric approach has used by the firm to make their strategies and plan through analysing the behaviour of their positive actions which will help to develop cooperative strategy and on the other hand consumer based planning focus to formulate business blueprint through evaluating the change of customer behaviour regarding their expectation with company’s product and service of the firm. SWOT and PESTLE analysis assist to take suitable decision at the corporate level. 2.2 Decisions influence marketing at business unit and functional level Decisions have direct impact on the business and functions of each and every business organisation. It is necessary for the top management to consider all the related factors of
6. Get Online Marketing Dissertation Help Service in the UK at Affordable Price commercial or operations of the company. Marketing work is closely related with operation of the firm. It is crucial for the senior manager to make sure all that all the executives should be able to perform their assigned role within the organisation to bring productivity (Zhou and Li, 2007). These activities play crucial role to identify the need of customer to create utility to provide optimum satisfaction which can assist to capture large market-share along with increase in sales output. Decisions affect both functional and marketing level operations. Positive steps of management help employees to be easily adjusted with the occurring change in tasks and promotional duties of the workers. All the strategies should consider employees interest regarding their works. Thus decision influences the marketing and functional level in the corporation. 2.3 Approaches to competitive positioning of organisations To get success in the competitive market, the positioning play crucial role as it helps to evaluate the demand and requirement of the company’s product or service. There are number of techniques which can be used by Vodafone to maintain their position in the market. To fulfil this purpose, it is extremely essential for the top management of the firm to understand their rivalries strategies and strength about their goods (Lambin, Chumpitaz and Schuiling, 2007). In the present scenario of Virgin group, and TalkTalk are major competitors in British market and their planning can reduce profit as well as growth of the firm. There are number of techniques which can be adopted by Vodafone to get competitive positioning. Lower pricing strategy assist the organization to create high demand of service and they could provide special package of data pack and voice call to attract youth customer who spent much time on internet to communicate with the friends. Good service also can be used by the company to gain competitive advantage in the market generally buyer prefes better assistance to buy product of company. Corporate customer pays for quality call and internet services to communicate with their clients. So the company is required to provide special package of 4G internet data to enhance their business efficiency. At international level, the organization can use free sample or discounting price approach to enhance their productivity to defeat the market competition against host countries organisations and these strategies will help to attract new customer in the particular regions (Tsiotsou and Goldsmith, 2012). These above mentioned approaches helps the Vodafone to maintain higher position in market to achieve their short and long term vision.
7. Get Online Marketing Dissertation Help Service in the UK at Affordable Price TASK 3 3.1 Evaluation of approaches to internal environmental analysis Internal analysis of the company provides essential information to the manager of the organization to increase their efficiency. There are number of approaches for conducting micro study of the organisation. SWOT, 4M model can be used to fulfil this purpose (Chabowski, Mena and Gonzalez-Padron, 2011). SWOT analysis of Vodafone: Strength of company: Corporation has leading marketing position and loyal customers which help them to enhance sales revenue that contribute to capture large market-share by satisfying the demand of users. Vodafone have skilled human resource to perform their roles in an effective manner to resolve the consumer queries and innovative thinking as well expertise knowledge of managing department assist to predict the future trends. Forecasting change aids in developing an appropriate strategy to maintain balance of demand and supply. Company have adequate financial resource which helps to conduct market research to develop suitable marketing blueprint to use better media of promotional (Neill, McKee and Rose, 2007). Weakness: The biggest weakness of the organisation is appointing untrained workers at the front-line sales in street shop which create adverse situations. Low patience employees failed to build relationship and provide necessary solutions of their problem. Opportunity: Due to globally recognised Vodafone can expand its product range. Along with telecommunication service, they can collaborate or set joint venture with other company for different sector. Another opportunity of the company is to increase their market-share and reach new demographic area by using lower or discounting pricing strategies. Threat: New entrance and high competition affect the profit and market-share of the company. Lower pricing strategy can easily cut the profit of organization. To overcome the future difficulty, organisation can spent huge amount on research and development program to determine their product price as well as the marketing planning can be develop. 3.2 Evaluation of approaches for external environment analysis Uncontrollable aspects of the business environment are known as macro or external environment. It affects profit and growth of each organisation (Varadarajan, 2010). It is
8. Get Online Marketing Dissertation Help Service in the UK at Affordable Price necessary for the management of the company to assess potential change which could affect their functions. The following components of macro environment are as under: : Political component: At international business these elements have huge impact on the corporation operations. In present scenario of Vodafone is carrying its commercial functions across 150 different nations worldwide face number of rules and regulation of countries ruling party. Government issues guidelines to the company to protect domestic firms as well as secure consumer’s right. Economical components: The most crucial aspect of external environment have direct impact on business function of every organisation (Truong and et.al., 2008). There are various rates such as the interest, inflation, purchasing power of customer, service charges etc., Vodafone is operating in all types countries whether developed or under-developed so company charge different pricing for their service on the basis of GDP of nations. Social components: The behaviour of consumer plays crucial role in the organisation growth. While the positive attitude of customer increases sales revenue of firm and on the other hand, negative perception of the community could reduce the demand of business services. To avoid this unfavourable circumstance, social welfare program helps to change the behaviour of people. Technological components: In advancement of technology, it is essential for each business organisation to understand the changes important for their company. Vodafone adopts advance techniques to promote their service in the targeted market to increase demand. Company provids online and offline recharge or payment way to enhance the convenience of its buyers (Luo and Bhattacharya, 2009). Legal components: This is related with different types of legislation regarding employees welfares, customer right etc., while health and safety, fair wages, equal opportunities are included in human resource progress whereas the buyer protection is necessary for the government of the country. Vodafone followsall legislations of human benefit which is strength of the organisation to enhance the loyalty of customer. Environmental components: After the industry revolution, a rapid change occurred in the climate. The average temperature of earth increased which is the major cause of increasesea level and it create threat of Tsunami in many various city (McAlister, Srinivasan and Kim, 2007). The above factors of macro environment affect the marketing strategies of the company.
9. Get Online Marketing Dissertation Help Service in the UK at Affordable Price 3.3 External and internal analysis are integrated Both environmental analysis play crucial role to perform commercial activities of company while the internal study deal with those factors which are under the control of the organisation and it helps to understand their strength, weakness, opportunities and threats that assist to develop an effective strategies to promote their product and service in the targeted market. Manager of the organization always consider the macro factor to plan business function whereas the external environment aid to understand those outside threat which could not be controlled by managing department of the company which affects business growth in both negative and positive way . Vodafone have greater grip in the market as well as contained skilled employees to get the help to coordinate with legal, social, technical resource which assist to company make necessary adjustment to achieve goals and objectives. Thus expertise knowledge of the top administration helps to communicate with demand and supply of product or service of firm (Leenders, 2010). TASK 4 4.1 Range of business strategy Business strategy formulates by the considering company objective. In the present scenario of Vodafone, the management focus to launch 4G internet service in the new market. Organisation wants to create their new product demand by creating awareness in the mindset of customer. Along with this, the company focus on holding leading position in high speed internet service in the countries. To fulfil the purpose, management of firm can use lower pricing strategy or discounting price to make new customer. In the present market scenario of Vodafone, the business strategy cover the research and development program in the market to assess the demand for their service along with way to select targeted customer, company focus to all type income level for new launching service in the market. Together with, the organisation strategy consists of operational and decision-making functions of the Vodafone to communicate with their end user in an appropriate manner (Shilbury and et.al., 2009). 4.2 Marketing communication strategies for the business of Vodafone Communication is a process in which the producer can deliver their message to the targeted customer about their product and service to create demand for offering service. It has great impact on mindset of buyer so the management of organisation should consider essentials
10. Get Online Marketing Dissertation Help Service in the UK at Affordable Price elements of conversation to integrate it with marketing strategy of company. In new era, the technology is completely changing and now the organisation considers new tools to communicate with their customer about their product or service. Importance of electronic media is increasing because it has large scope to tell the producer communicate to customer (Varadarajan, 2010). Vodafone posting their promotional content in the form of video to attract new age consumer who prefer the internet to conversation with their friend through social media such as the Whatsapp, Facebook, Twitter, Instagram and YouTube. The awareness of management of company helps to develop effective marketing communication strategy to promote their service in the new region. Print media also helps to tell necessary information to customer for business world along with TV as well as radio advertisement aids to increase accessibility of firm to their service to gain competitive advantage. 4.3 Implementation of marketing strategy including the resources and management Marketing strategies helps to understand demand of customer and deliver them their desire to gain competitive advantage in market. Implementation of blueprint of communication helps to review impact of it through measuring demand and supply of company service in the present scenario, Vodafone organisation comparing the expectation and actual output for making their marketing strategy. They use different tools and techniques to send their message to people for their 4G internet. Strategy of marketing could be review own market position and rivalries position in the target market. Along with it can measure on the basis of resource allotment optimum utilisation of resource helps to increase the effectiveness of it, cost of operation can be reduce by higher use of financial, technical assets of company (Truong and et.al., 2008). Management is another benchmark to review the effectiveness of marketing strategy of firm, better control over the blueprint assist to develop positive attitude of customer toward the company service. Business environment also play crucial role in gaining attention of buyer. Internal and external analysis helps to understand the effectiveness of the marketing planning of organisation. The above described parameters assist to understand the productivity of promotional blueprint. CONCLUSION The above analysis is highlighted that strategic marketing has crucial to get competitive advantage in the market. It has helped to develop an appropriate plan to create communicate with
11. Get Online Marketing Dissertation Help Service in the UK at Affordable Price the customers and increase the demand of product. In the report it has been evaluated principles of marketing to meet organisation goals and objective. Furthermore it concluded Marketing and corporate strategies that has related to get success for the business along with this internal and external environmental analysis. It has affected the marketing functions of company and development of marketing strategies and communication with its implementation on company operations.
12. Get Online Marketing Dissertation Help Service in the UK at Affordable Price REFERENCES Books and journals Chabowski, B.R., Mena, J.A. and Gonzalez-Padron, T.L., 2011. The structure of sustainability research in marketing, 1958–2008: a basis for future research opportunities. Journal of the Academy of Marketing Science. 39(1). pp.55-70. Chen, Y., Ganesan, S. and Liu, Y., 2009. Does a firm's product-recall strategy affect its financial value? An examination of strategic alternatives during product-harm crises. Journal of Marketing. 73(6). pp.214-226. Fraj, E., Martínez, E. and Matute, J., 2011. Green marketing strategy and the firm's performance: the moderating role of environmental culture. Journal of Strategic Marketing. 19(4). pp.339-355. Frazier and et.al., 2009. Distributor sharing of strategic information with suppliers. Journal of Marketing. 73(4). pp.31-43. A Sample Report on Strategic Marketing To Buy Complete Assignment: Contact us: Phone No.: +44 203 8681 671 Mail us: help@instantassignmenthelp.com Website: https://www.instantassignmenthelp.com