Marketing Strategies, the Market Environment - Essay Example

? Marketing Strategies Introduction One of the more crucial of a business’ operations is the marketing strategies that they use. The main aim of a business is to grab hold of the target market they are focused on so as to create a reliable level of demand for their products that will keep them in operations (Shaw, 2012). The market is the most essential factor that needs to be studied when a business plans on penetrating a new sector and without the ability to do so there is little chance of success in the endeavors that they pursue (Laermer & Simmons, 2007). However, there are a number of factors that also need to be taken into consideration when studying this aspect of business practice, so as to present a wide spectrum of the circumstances that an organization may come across when conducting their operations. The concept of marketing arose from the recognized need of a business to relate to the potential consumers they were targeting and develop a line of communication that will enable them to relay any messages to the public (Kotler & Keller, 2006). The practice of marketing also served to create new inroads in freshly established regions that allows for the opportunity to develop a consumer base. Marketing strategies come into play when a company is implementing their method of marketing and consists of the particular pathways that will be chosen by an organization aiming to achieve this objective (Laermer & Simmons, 2007). The marketing strategies that are developed will be determined by the type of business the organization is involved in as well as the specific objectives that they wish to achieve. A business may choose to focus on a particular objective that they feel is essential to the strengthening of their business and this in turn will determine the particular methods that are put into application (Kotler & Keller, 2006). A combination of different marketing strategies with the aim of achieving a particular result can be referred to as a marketing mix and has been in use for a number of years since its inception. The Market Environment One of the important issues that an individual needs to focus on is the environment that the business operates under. The market environment can be described as the particular surrounding settings, both physical and sociological that influences the operations of a business. In this particular case scenario the market environment will be placed in the South African region as this is the area where the business wishes to set up their operations (Kotler & Keller, 2006). The environment can be categorized into two factors when attempting to decipher the various issues that affects the dental market the practice is hoping to penetrate. These categories are internal and external factors: Internal Factors This refers to the factors within the business that will affect the marketing strategies that may be implemented by the practice. They include: Size of the practice – The size of the business will directly affect the level of marketing they are able to undertake as well as the methods that will be implemented in relation to the business’ financial capabilities (Laermer & Simmons, 2007). The size of the business may also refer to the intended extent the practice plans on growing their South African business, a moderate establishment would not require as much marketing as an intended National brand would. Organizational Structure – The manner in which the company is structured and established means of operations will determining the marketing strategy that will be implemented with regard to the decision makers. The marketing activities may be controlled by the London based department which may mean that the South African strategies will have to have originated from headquarters before the business is able to act on them. It is advisable that individuals who are based within the region be in charge of the marketing operations as this is the group that has the clearest perspective of what they are dealing with and the steps that need to be taken (Kotler & Keller, 2006). External Factors These refer to elements outside of the organization that may have an impact on the market strategies that the practice chooses to adopt. Some of these factors include: Competition Levels – The level of competition that is present in a given market will be determined by the number of rival competitors that exist within that particular market (Shaw, 2012). This is a factor that will need to be taken into consideration as it will influence the effectiveness of the marketing strategies that will implemented by the practice. More aggressive tactics will be required in situations where the level of competition is high in comparison to lower level scenarios. Target Market – The target market that the practice intends to reach will also play a vital role in influencing the type of marketing strategies that will be adopted by the business (Kotler & Keller, 2006). Younger generations for example would have different means of communication and relaying of messages compared to their older counterparts and thus the best medium will need to be determined according to the particular target market that the practice is aiming for. Marketing Strategies The best marketing mix for the practice to use will be determined by the environment they are placed in. In the case of the dental practice, it is advisable that the more traditional route coupled with more recent introductions into the marketing world be implemented to create an all round marketing tool with the best chances of success (Laermer & Simmons, 2007). This is due to the fact that a business that deals with a widespread market (such as dentistry) will need to incorporate the different target groups into the marketing message they intend on relaying to their potential consumers. This will involve the inclusion of the “four P’s” as well as the more modern “four C’s” into their marketing mix. The four P’s consist of price, place, product and promotion which can be directed towards the service they offer while the “four C’s” include consumer, cost, communication and convenience which would be in regard to the target market and the potential consumers they hope to attract (Kotler & Keller, 2006). A combination of Price and Cost will allow the practice to derive the best offer they are able to deliver to the market without suffering a level of loss due to the activities involved. A mixture of Communication and Promotion will allow the practice to determine the particular needs of their target market and thus create an attractive marketing message that is able to catch the public’s eye. Including all the elements in the “four P’s and “four C’s” will a business a slight advantage in their marketing operations should they be able to utilize these tools to their full potential. Such a mix enhances the accuracy in the decision making process that takes place before the implementation of market strategies (Laermer & Simmons, 2007). A combination of these elements could prove to be extremely helpful in determining what the consumer wants and the best and most cost effective method of delivering this to the market (Shaw, 2012). This will improve the level of operations as well as enhance the potential success that a business is able to enjoy once it has established itself as one of the contenders in the market. Critical Issues There are a number of essential issues that will also need to be taken into consideration before a business enters a particular market especially when dealing with foreign environments (Kotler & Keller, 2006). One of these issues in particular is the language that is used in the particular region that a business wishes to establish itself. The local dialect may at times be more popular than international languages such as English and in such cases a switch to this mode of communication should be considered for more successful results when delivering a marketing message. References Kotler, P.& Keller, K. 2006. Marketing and Management, Pearson Prentice Hall, Upper Saddle River, NJ, USA Laermer, R. & Simmons, M. 2007. Punk Marketing, Harper Collins, New York. Shaw, E. 2012. "Marketing strategy: From the origin of the concept to the development of a conceptual framework”. Journal of Historical Research in Marketing 4 (1). Read More