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Marketing Mangement - Essay Example

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Corporate level strategy is different from the business level strategy. In the business level strategy each separate product line or division is given separate mission statement and goals as they have separate competitors and markets to operate in. For example, Nestle produces thousands of daily-use products, but each product is different from other and faces different competitors and markets and targets different consumers, as a result, each division within Nestle has different strategic management team with different goals and strategy plans…
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Marketing Mangement
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Corporate level strategy is different from the business level strategy. In the business level strategy each separate product line or division is given separate mission statement and goals as they have separate competitors and markets to operate in. For example, Nestle produces thousands of daily-use products, but each product is different from other and faces different competitors and markets and targets different consumers, as a result, each division within Nestle has different strategic management team with different goals and strategy plans. The role of marketing manager is to identify the major corporate objective and then set the business level strategy for various product types and departments within a business to meet the overall business objective. A good marketing manager tries to achieve his objectives and tries to fulfill his role by setting up goals which are smart, measurable, achievable, realistic and timely. In order to fulfill or achieve his targets, a good marketing manager leads his subordinates and organization towards meeting these objectives. In a diversified organization like General Motors, a marketing manager can look at the overall objective of the business and then based on this objective he can setup the strategies or goals of various different products or SBUs within a business. Only when these objectives are in line with the mission or vision of a business, a business like General Motors can achieve success by meeting their targets.
The marketers can provide certain very useful information on the basis of planning. They can provide sales data of a product, consumer reactions to the product, changes in consumer tastes, impact of competition in the market and how to make sure that the product remains successful in the market. Only if they have well-defined plans they can hedge volatility in the markets and can take large and diversified companies towards success.
SBU strategy or business-level strategy can acquaint a firm with the market environment and to make policies which are best suited for a business like General Motors. This way they can avoid being overshadowed by the competitors marketing strategies. They can also maintain competitiveness in the market in terms of cost leadership and differentiation, if they plan ahead of the competition. Business Level Strategy also makes sure that the overall mission and vision of the company remain at the centre of all business level strategies and the firm continues to work to achieve its main target. Business Level Strategy also helps Separate Business Units to focus on their competencies. For example, a department in the General Motors who produces cheap cars through cost leadership can maintain its competitive advantage by focusing on cost, whereas another department that produces luxury cars can focus on differentiation. This helps various departments in an organization to focus well on their competencies and that focus remains there and is not lost if a firm goes for a single policy or strategy to be levied on all SBUs within a firm. It also help marketing managers of different SBUs to work according to their own style rather than being tuled by a single core strategy and hence the outcome of this is more efficient and better decision-making process. Read More
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