The Difference between Strategy and Tactic - Essay Example

Key words: Competitive advantage, Products and services, Supply and demand, segmentation, consumer, client Midterm Exam essay Essay 1. Sun Tzu, author of “The Art of War”, once said: All men can see these tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved. Explain what is meant by this in a marketing/business context. The success of any business mainly relies on its initial implemented strategies, which usually draw their support from numerous employed tactics (Karl & Niketh 222). However, this to some strategists and policymakers may not be clear despite holding key posts, which entail them to devise corporations’ effective tactics. For illustration, many corporations’ leaders usually observe superficially how their counterpart firms attain significant market share in their line of specialization, which prompts them wishing to enjoy the same thrill of success. What they do not understand are the rigorous, tiresome and time-consuming tasks, which these firms have employed in the realization of their goals. This is especially in utilizing diverse plans where in some circumstances owing to the unpredictability in the market, they may become obsolete. Therefore, they have no option but to alter them occasionally and use others that will help them in attaining their firms’ goals within the already set timeframes. This requires market tactics or techniques that will yield to significant market share, which encompass high products’ quality and effective advertising. Sometimes, this may entail going beyond the old market segmentation especially in the regions where the firm may be aiming to dominate and have a large clientele (Karl & Niketh 41). What is the difference between strategy and tactic? How are the two related? Strategy mainly refers to the goals or targets, which any corporation intends to set with the intention of accomplishing their goals within a given timeframe (Karl & Niketh 52). It is thinking part of the policymakers meant to devise change that will enable the company high attain a competitive advantage in the market besides being remarkable in its specialization (Karl & Niketh 57). It also entails an idea, direction or a set plan, which the incumbent policymakers would employ in relation to resources available to ensure that, they have achieved the shareholders’ expectations. Tactic is the doing action of the big plan, which the management proposes to utilize in ensuring it is capable of carrying on with their strategy to the end (Karl & Niketh 229). Mainly, this may encompass how to align resources in order to attain the intended goal(s) where owing to the unpredictability in market, policy makes can alter them to shun losses (Karl & Niketh 229). This is especially if the unpredictably of the market will render the employed tactics obsolete where instead of benefiting the company, they lead to losses. Relationship between strategy and tactic Strategy is a multilayered aspect, mainly comprising of numerous tactics, which people employ with the intention of attaining the overall target or goal. It also ensures the overall daily activities/tactics undertaken in every corporation or by a certain group usually lead to the attainment of its core targets. Tactic is a daily task mainly undertaken towards the realization of the main goal, for instance, answering clients’ calls and constant searching for effective communication ways in an organization. This leads to the realization of the already set the organization’s strategy. How can strategy serve as a source of competitive advantage? Be specific in your discussion of stakeholders and the marketing mix. Use supporting examples to provide appropriate illustrations. Strategy mainly aids a corporation to attain a certain target, which stakeholders may be intending to achieve within a given timeframe. This is evident from the businesses’ employment of market mix where their target is to have a significant market share in their specialization besides maximizing their profits. Therefore, stakeholders owing to the diverse preferences of clients in the market, they usually come up with a brilliant plan entailing “what to sell”, “where to cover” and “where to look”. This is by assessing meticulously their competitors’ strengths in the market compared to the resources they have, which they will utilize in attaining what they want (Karl & Niketh 48). Consequently, they are able to come up with a robust market mix, which will be a remedy to what the clients’ need in a given region and duration. For illustration, the famous Wal-Mart leading retailer in America mainly concentrates on offering extensive discounts to its clients with an intention of attaining enormous market share than other similar stores. In addition, it also ensures its goods are close to the clients besides having the reputation of selling high quality products at a reduced price, which is to the other corporations. Hence, in the market it emerges as a remedy to the ordinary people who will opt buying from their stores everywhere in the America. Essay 2 Burger King’s famous advertising slogan “Your way, right away” seemed to herald two concepts in our modern consumer markets: customization and immediacy. Explain, using specific examples, how these concepts are visible in our everyday consumer lives. Presently, goods delivery to clients on demand is a trend that is increasing especially among the working families. This is due to the lack of adequate time meant to prepare their favorite meals in their residences. Hence, having no other option, they end up ordering food online from the service providers to deliver them at their place of work or even at home. This trend is common with Pizza delivery, which initially has dominated the service deliver market. McDonald’s stiff competition has rendered other upcoming similar businesses result to door-to-door delivery of their varied food, with the intention of capturing large clientele. Besides, presently customers are making their orders online. This entails one to give complete specifications regarding the fabrication of any products or services they want from the seller, which are convenient and fast, hence the statement, “yours for the asking”. Afterwards, upon completion of the products’ fabrication, the corporation then ensures proper arrangement for its shipment to the client. For instance, corporation like Zappos.com, which deals with delivering of footwear to diverse clients globally at their respective regions, may alter their design specifications to accommodate those of the clients. This is trend is commonly with the celebrities who normally like wearing shoes or clothes that bear their names. Has this focus on the customer always been the case? What has been the historical evolution of marketing eras? It is irrefutable that, any product emerging in the market ought to satisfy the client’s need perfectly especially through maintaining their high quality. Therefore, corporations and service providers have always held to this fact with the intention of attaining large clientele and at the same time maximize profit. This is because the clients always go for the best products, which will satisfy their needs besides being able to afford them. Marketing since in 1920s to date has undergone four tremendous stages owing to the consumer’s changing buying trends. Production era marked the initial phase, where its emphasis entailed manufacturing of high quality merchandise with the notion, “a good product will sell itself”. This yielded to mass production, which characterized the period but due to the buying characteristics of consumer, demand exceeded supply. Sales era characterized 1950s period, where its mode of operation encompassed using diverse tactics meant to win the consumer’s resistance (Karl & Niketh 46). This was due to an abrupt change brought by WWII effects, where many people did not have much to spend compared to the past when they were extravagant. The third phase was the marketing era, where the sellers recognized client as a king. Therefore, to get their attention they had to produce what the consumer needed besides maintaining both the products and services’ high quality. This era differs slightly with the current trend, which prompts the seller constantly to seek establish a long-term relationship with the client besides other partners, which will lead to his success. Explain the marketing concept and the societal marketing concept. How can the societal marketing concept serve as a source of competitive advantage? Marketing concept This is a managerial philosophy, mainly utilized by corporations in analyzing consumer’s needs, making of decisions, which will ensure the provision of timely and high quality products. (Karl & Niketh 86). These needs may comprise those, which the firm knows, or does not know but with the aid of a masterly analysis strategy coupled with research, firms are able to discover and meet them effectively. Societal marketing concept It is a promotional business idea whose intention is to increase the awareness of the consumer’s long-term welfare, which extends beyond the normal exchange relationship. This is between the client and the seller where the latter indulges in other activities meant to benefit the client alone. For illustration, BAT’s tree planting projects done globally with the intention of helping the society to combat global warming. Implementation of Societal marketing concept, mainly by corporations heightens their reputation, which captures the clients’ interest to buy their products. Besides, owing to help that they normally offer, numerous people and other society’s agencies develop a long lasting association with them. Hence, obtaining a large market share contrary to other firms, which perceive this concept mostly leads to the waste of resources. Essay 3 Alice: “Would you tell me, please, which way I ought to go from here?" Cheshire Cat: "That depends a good deal on where you want to get to." Alice: "I dont much care where –" Cheshire Cat: "Then it doesnt matter which way you go.” ― Lewis Carroll, Alice in Wonderland Define segmentation and explain how it helps a marketer decide “which way to go”. What is the difference between a market segment and a target market? Segmentation This is a process mainly employed after an intensive research, which entails understanding and grouping consumer’s demand according to their capability in the market (Karl & Niketh 38). It helps the marketer attain an adequate knowledge regarding certain targeted clients before availing his or her products. This is because demand normally redistributes itself according to diverse to diverse factors like age, lifestyle, region, income, religion or capability to afford the manufactured product. Therefore, the marketer before making any forward step is already aware and equipped with sufficient information regarding what to expect in the direction one has taken. Consequently, this ensures that he or she maximizes profits besides shunning those incidences that may lead to loss. Difference between a market segment and a target market Market segment is the process of identifying a certain consumer type, which a potential company intends to meet their specific needs, and it usually precedes market target. Market target specifically concentrates on the already segmented group in the provision of the required services or products. Explain the major bases upon which a segment profile may be created. Use a specific example to demonstrate how these traits may come together. Geographic Profile This profile chiefly considers certain regional coverage, which the seller wishes to provide his or her goods and services, for example, a pizza shop (Karl & Niketh 39). It entails selecting a certain geographical region, which the seller is capable of meeting its needs satisfactorily before expanding in the future. Demographic Profiles This segmentation primarily focuses on people’s diverse characteristics in the market (Karl & Niketh 41). They include, age, gender, marital status and income levels where the seller concentrates on one group so that he or she may be remarkably effective. Sometimes, age may encompass college students or the elderly people where their products or services may vary divergently owing to their desires. Psychographic Profile The profile mainly employs consideration of people’s lifestyles and personalities where their distribution may be across the entire society’s classes (Karl & Niketh 46). Therefore, it is the mandate of the seller to provide affordable products to all people, which sometimes may become particularly tricky. However, with proper strategies and plans, this is extremely easy and beneficial. Behavioral Profile Its emphasis entails studying desired merchandise benefits, cost sensitivity and brand loyalty trends of the consumer evident in the market; though mostly vary across regions (Karl & Niketh 47). Describe what is meant by positioning, and how it can serve as a source of competitive advantage. Positioning This is a segmentation final step where the marketer creates an image of the product in the minds of the targeted consumer (Karl & Niketh 63). Primarily, this is via effective and intensive advertising, which prompts the clients developing a strong brand’s loyalty and interest. Consequently, it ensures the seller attains a long lasting and competitive advantage in the market than the already thriving competitors in the region if one employs the tactic as necessitated (Karl & Niketh 65). Conversely, this is only attainable with effective application of proper strategies. Additionally, it also gives the consumer necessary assurance concerning the quality of the emerging products and services. This is because during sales and promotion clients normally have the chance of evaluating and comparing the products with those of the other corporation through experimentation. Besides, the brand attaining the necessary loyalty from the clients, positioning facilitates brand’s power increase, hence shunning stiff competition from other corporations (Karl & Niketh 64). Work Cited Karl, Moore & Niketh, Pareek Marketing: The Basics. Boca Raton, USA: Taylor & Francis, 2010. Print. Read More