Marketing Strategy for the redevelopment of Tottenham Court Road - Essay Example

tal marketing according to Peattie (1992), who says Green Marketing should mix with any other marketing that a marketing manager would like to focus upon because Green Marketing is “The management process responsible for identifying, anticipating and satisfying the requirements of customers and society, in a profitable and sustainable way.” (p. 11). It is the high priority marketing of our generation. But Lovelock (2000) insists on service marketing, because continuous services are necessary in modern economy.

He quotes Albrecht: “Ours is a service economy and it has been one for some time” (p. 1). Fundamental strategic position of marketing in this context depends on the uncertainty created by present global trend. Such consideration “…has been attributed to the increased uncertainty that businessmen feel these days when they can contemplate the future – what will government intrusion, roaring inflation, or the sudden appearance of competition from abroad do to them next?” Weitz and Wensley (1984, p.1). Strategic Marketing suits here due to the importance and all-encompassing significance of the region involved.

It is necessary because of the high level in which marketing is conducted and marketing here is aiming at a very long term commitment from customers. They are built-in spaces and immediate disposal or re-disposal is not possible. In many cases, it could be a life-time commitment with investment and cannot be taken lightly hence, time horizon has to be taken into consideration. “Strategies last for long periods of time, while tactics have short durations. Strategic plans might have a ten year horizon, in contrast to annual marketing plans that deal primarily with tactical issues,” ibid (p.3). Marketing under these circumstances cannot be abrupt due to its ongoing nature.

It will be a long term commitment by my firm and new opportunities or threats to opportunities keep appearing for a long time and it is necessary for the marketing