Marketing Strategy Assignment

Marketing Strategy Assignment Words: 655

If you can recall, marketing orientation is when an organization puts its total focus on the customer, and where the delivery of customer satisfaction at a profit, is their primary motivation. On the other hand, a market-oriented organization is much more than Just acknowledging the importance of customers as a key driver to deliver superior customer value. More than that, it encourages the methodical collection and sharing of market information from customers, competitors and other stakeholders, in order for the organization to interpret and devise appropriate responses to changing conditions.

This serves the purpose of promoting an organization-wide priority that allows identifying and exploiting of opportunities as well as neutralizing threats in the marketplace. In other words, market orientation captures an organization’s ability to anticipate, react to, and capitalist on changes that are bound to occur in the fast-moving marketplace. Just as you now know that market orientation is concerned with organization-wide issues, marketing orientation reflects a functional focus. We can add that marketing orientation as a philosophy extends beyond the marketing function in an organization. . 5. STRATEGIC ORIENTATION AS A SECOND CONCEPT (Page 8) Define Strategic Orientation Strategic orientation is defined as “how an organization uses strategy to adapt and/or change aspects of its environment for a more favorable alignment” (Mann and 1. 6. WHY STRATEGY DEVELOPMENT IS IMPORTANT Porter (1996) states, that through the years, managers have been focusing too much on operational effectiveness rather than strategy development. Management tools such as Total Quality Management (TTS), benchmarking and outsourcing have taken the limelight away from strategy.

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Granted that both operational effectiveness and strategy are important for superior organizational performance – both play different roles. Operational effectiveness is performing similar activities better than competitors, while strategy requires us to perform different activities from competitors or performing similar activities in different ways. Companies are mainly interested in always pushing productivity as high as possible – ND although this is admittedly necessary for superior performance – it is surely not adequate for overall competitiveness.

Adding a competitive dimension, Field and Gilligan (1998) define strategy as “the broad statement of the way in which the organization sets out to achieve its objectives. Included within this would be a series of decisions on the markets in which the organization will operate, the type of products/services it will offer and the basis of the competitive stance”. To put it simply, a strategy is a roadman that directs the organization towards the attainment of its long-term goals and objectives.

Strategy implementation and management look at organizational design and marketing strategy implementation and control. Overview of the marketing process A good way of looking at marketing strategy planning is as a narrowing-down process. This marketing strategy process is illustrated below: organization’s resources and its objectives. I The single most important factor for a successful marketing strategy is a clear understanding of who your customers are and what their needs are.

Organizations need customers to buy their products and services for revenue-generation (and for businesses, profit) – without them, the organization would not survive. 2. In most cases (especially for service organizations), organizational activities and processes would cease altogether without customers (and end-users) – you cannot roved a service if there’s no one to provide it to. 3. Customers supply feedback to organizations by providing essential information that enables the latter to develop and adapt their business and marketing strategies.

In today’s globalizes business economy, customers can have access to widening product choices. This means that increasingly, it is getting very difficult to lure customers and get them to buy your product(s) because there are very many other similar-type products on offer. Say for example you are the marketing manager for Combo Cola. How do you ensure hat potential customers choose you over other cola drinks (see Figure 2. 1) such as the No. 1 beverage in the world?

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Marketing Strategy Assignment. (2020, May 05). Retrieved December 2, 2021, from https://anyassignment.com/art/marketing-strategy-assignment-31950/