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Strategic Marketing Plan Master - Essay Example

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Summary to essay on topic "Strategic Marketing Plan Master Essay"
The objective of strategic management is to "exploit and create new and different opportunities for tomorrow." (David 2005:5) Further, according to David, strategic management implies the integration of various organisational functions like management, finance, manufacturing, R&D, marketing, and information systems…
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Download file "Strategic Marketing Plan Master Essay" to see previous pages... Therefore business strategy includes all activities a company undertakes to achieve its mission, marshal its resources to derive competitive advantage within a dynamic environment. Organizations, which can continuously anticipate, adapt and innovate to meet changing trends in the environment and customer expectations are said to have a vision.
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This vision, otherwise known as long term focus enables them to be continuously successful and deliver value to their stakeholders. Johnson et al. include two additional features, one, the long-term focus, the other, defining its scope, in their definition of strategy. They define strategy as "the direction and scope of an organisation over the long term which achieves advantage for the organisation through its configuration of resources within a changing environment and to fulfil stakeholder expectations" (2004:10).
Radiant Services Company Inc. (RSC) is a taxation consultancy servicing individuals and business organizations by offering them advice all areas of taxation. ...
RSC considers that its service offering of tax planning would help it build long-term relationships with its customers by making the company an indispensable integral part of management and financial planning. RSC's customers appreciate the value of taxation and financial planning and are cognizant of the lost opportunity costs if they do not seek expertise in these areas.
Changes in the market dynamics like increased competition, simplification of tax laws, the advent of information technology solutions to complex problems pose a long term threat to the company especially because of high dependence on one area of financial consulting. The company realises the necessity to diversify to achieve stability and sustain growth in the dynamic environment.
The company's customer base may be categorized into three categories. The first is the individual taxpayer category, which offers consistent revenues. Of this again 20% consists of customers who seek advice on tax planning and investment portfolios. The rest seek advice only tax planning.
The second category comprises of organizations that employ less than forty employees. These organizations have annual sales in the range of $250,000 to $3,000,000, privately owned, mostly around San Francisco and are the fastest growing segment within RSC's customer base. RSC considers that it would be a profitable long-term strategy to hitch to these organizations and grow along with them.
The third and most important segment for RSC's current revenues comprises the organizations that employ more than forty employees. They generate the highest revenues on 'per-hour' basis and seek the widest range of consultancy services from RSC in the areas of taxation ...Download file "Strategic Marketing Plan Master Essay" to see next pagesRead More
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