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Without a marketing strategy, an organizations effort to attract and retain customers becomes inefficient. However, with a marketing strategy, other strategies in the firm also become operational. According to Paul Fifield (2012) is an organization’s central concept or its produce by which the approach it chooses to take to has an impact on the market.
The correlation that exists between the marketing strategy and manufacturing strategy in an organization has direct relations with its success and competitive capabilities. In chapter 5 of Bowersox, Closs, Cooper and Bowersox’s article, page 107, the authors evidently indicate that the existing marketing practices serve as a foundation for the manufacturing strategy in relation to client acceptability. The relationship between the two is crucial to an organization’s competitive position. When such a relationship does not exist, the manufacturing strategy is not used as a formidable weapon of competition since it is does not form the correct alignment with the marketing strategies (Bowersox, Closs, Cooper & Bowersox, 2011). An excellent example comes from Bowersox, Closs, Cooper and Bowersox’s article where they indicate that the marketing department may only care about the features and aesthetics of a product or service, whereas the manufacturing department concentrates on the firm’s conformity. The key aim of a manufacturing strategy in an organization is to ensure that it has a competitive advantage over its competitors using the available manufacturing capabilities or assets. However, it is fundamental to note that the competitive advantage is only defined from a firm’s standpoint on marketing. Given that there are often many conflicts that exist between the two, the strategies are always divergent. Hence, for this reason, a firm’s marketing strategy has to have a positive impact on decisions
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Cost Reduction Strategy. Vodafone has been well-known for minimising their cost by dropping their operating expenses. Their cost reduction strategy helps to provide ‘scale benefits’ by optimising working and capital expenditure. Vodafone implements a series of cost programs which helps to minimise the operating costs.
Their customers were made to feel special and a part of an elite group surrounded by others like them as only those who purchased the motorcycles could attend rallies and events. It is more than just a mere motorcycle that they were getting. It is a lifestyle, a community, a way of life.
Ever since the company has been growing to become the world's largest fast food retailer, operating more than 30,000 stores in 119 markets.
Today, the face of the fast food market is very different from what it was more than fifty years ago. It has become highly competitive, and companies are pressured by high costs and deliver increasingly similar menus with little space for differentiation.
As far as the marketing investments are considered, although 90 percent of the investments are accounted for by the investment in brand contacts, until now there hasn’t been any tool which allows the managers to identify, a consumer perspective, the most efficacious set of contacts in which to invest.
Porter described a focus strategy where the company selects a segment of the industry and customizes its strategy to serve the market segment. A differentiation strategy is where the organization seeks to uniquely position itself in its industry by meeting one or more needs and tastes of the target market.
The branding and positioning of a high end lifestyle product like crystal is of utmost importance to give its market value a lift.
The crux of our paper is the development of an international strategy for the marketing of a new product developed for the lifestyle segment by Anukul Designs along with the crystal produced by Tutbury - a British manufacturing company in India.
To survive, it is vital that a firm can do something better than its competitors. Globalisation has not only altered the nature and the intensity of competition but has had to dictate and shape organisations in terms of what consumers wants, how and when they want it and what they are prepared to pay for it.
The first strategy is establishing strong links with the market. The EME industry has maintained a strong feedback loop with the processing, engineering, research, design and production functions. It has nurtured market sensitivity so as
Therefore, what the company manufactures must be linked to the buying needs of the customers. The company managed to predict the response of the market to different colors and styles and created more recreational facilities, jobs and housing structures for its workers. Sport