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Marketing Management - Essay Example

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The intention of this study is marketing management, a fundamental activity in any business enterprise. Business strategies pursued by business enterprises are tailored towards achieving the maximum benefit for the firm, while maintaining the desired level of utility to the consumer. …
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Download file to see previous pages From this research it is clear that business enterprises are driven by profit motives. Maximum profit is achieved through minimization of costs of operation and maximization of consumer utility in order to trigger high sales that in return provide high revenues. Marketing is an integral factor in that pursuit. Strategies to ensure optimal marketing must be pursued in line with adoption of relevant and functional marketing plans. Marketing plans are therefore relevant, because they key determinants of an enterprise’s success or failure in its line of business. Marketing plan is an outline of activities that marketing managers use in their marketing endeavors in a bid to place products and services at the best point of sale. The primary objective of the plan is to capture as much market share as possible in regard to specific products and services that a business enterprise deals with. Ideally, marketing plan diversely considers the entire production process to determine what product or service attributes constitutes consumer tastes and preferences. The success of products and services is highly dependent on the marketing plan adopted by the managers. Effective and efficient use of marketing plans is essential in aiding success of products and services in the market setting. Specifically, McDonalds is an example of successful employment of marketing plans. Serving numerous countries, the fast food restaurants have captured a significant international market share. Failure on the other hand emerges when the marketing plans employed fail to meet their sole purpose. In other words, marketing plan integration into the activities, operation and performance of a business enterprise constitutes such failure. Effective and efficient coordination of marketing activities prior to those that makes up the plan result to failure of a given product or service in the market setting. Toyota at some point had to withdraw some of its cars from the market due to performance failure, emerging from activities within the firm (Bangs, 2010). Although marketing plans had been conducted in both domestic and international markets, some of its brands performed poorly. Analysis Business enterprises in their line of business have desired expectations. The outcome however may or may not be the desired one. However, operations and performance of an enterprise can influence the actual outcome prior to what is expected. It is important to point out that there is no single business that gets operational with a motive to make losses and therefore fail. Business enterprises are profit driven, with high expectations of success. Marketing plans as already identified greatly influence success or failure of an enterprise. Considering the two companies above, both had their marketing managers lay an outline of operational functions that would ensure maximum benefit from each of the company’s operations (Jackson, 2008). However, market responses are not certain, and therefore the turn of events may not necessarily be as forecasted by the each company. A movie that failed: Watchmen Set for admiration and success, an unexpected outcome was failure (Baumard & William, 2005). Demand forecasts are critically fundamental for movies. It is important that all activities ...Download file to see next pagesRead More
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