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Marketing Strategies Marketing - Essay Example

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Running Head: Marketing Strategies Marketing Strategies Marketing Strategies As the human populace has entered into the epoch of twenty first century, the indefinite advancements and progressions has given escalation to utter competition in the world of commerce on top…
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Marketing Strategies Marketing

Download file to see previous pages... Here, the marketing personnel of any organisation comes in the picture as a foreground and is the backbone of the business. The way the organisation market its products and services makes a direct impact on to the firm, its suppliers, its customers and all others that come under affection by the firm’s choices. In addition, marketing is another way of building and sustaining enduring relationships between buyers, sellers, and other parties. Creating, communicating, delivering, and exchange offers are few of the courses of actions involved in the process of marketing. Nevertheless, customer has always been the vital and salient entity for the business; therefore, customer value is the prime objective of marketing any product or service. Through marketing, the organisations make sure that the customers get value from the products or services that they are buying so that they can create brand loyalty for their products or services (Mercer, pp. 11-18, 1996). The effective marketing concepts make visible the vision of the marketers that they focus on letting people be acquainted with their products and services and win over them to buy or use it on frequent or recurring basis. Here, the marketing strategy plays a substantial role as it shapes the overall business goals. In addition, the marketing strategy incorporates the business definition, account, or picture of products or services, a silhouette of target customers, and defines the company's role in affiliation to its competitors. Therefore, marketing strategy is a process that the marketers follow as it facilitates the firm in focusing and paying attention to their resources lying on the opportunities. The effective marketing strategy would not only boost the level of sales but could become a leading reason for gaining an edge over the competitors (pp. Pride & Ferrell, pp. 29-30, 2006). As according to the author Seema Gupta, “strategic marketing is best seen as an ongoing and never-ending process” (pp. 145, 2009). The Business Dictionary defines marketing strategy as “A strategy that integrates an organization’s marketing goals into a cohesive whole. Ideally drawn from market research, it focuses on the ideal product mix to achieve maximum profit potential. The marketing strategy is set out in a marketing plan” (BusinessDictionary.com, 2011). To put it in other words, four Ps that take account of product, price, place and promotion are they key aspects that marketing strategies emphasize. Furthermore, these strategies are comparatively high-level plans that are often interactive and dynamic. The marketer values the four Ps of marketing that are product, price, promotion, and place while defining the marketing strategy as it requires the marketing mix with the intention to draw the target markets’ attention towards the product or service. Therefore, the target market symbolises the marketing strategy decisions that encircle the four Ps (Ferrell & Hartline, pp. 263-266, 2010). According to some schools of thoughts, effective marketing strategy is a two-step process that comprise of making a verdict about who matters, and being different. The first step of effective marketing strategy defines that the organisation develops the strategies that classifies a contracted target profile. Moreover, the strategies must come under development ...Download file to see next pagesRead More
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