Company Marketing Strategy Analysis
Introduction.
For the success of any business entity, it has to strategically manage its affairs. Strategic management basically gives an organization competitive advantage and hence increases their levels of returns. It is the management that is charged with the strategic planning of the organization. This can be achieved via the proper and effective coordination of the functions of management. Strategic management also enables a firm to contain the level of competition in the market and any other changes both internal and external (NetMBA, 2010).
For the survival of an organization, it has to posses an effective marketing department. The marketing department is charged with ensuring public awareness of the services and the products of the organization. The department works in conjunction with the public relation department hence inform the public while maintaining a good relation and image with the public. For proper and effective marketing, an organization has to strategically plan the marketing process. For instance, before a company commences it has to determine the kinds of services or products to offer to the public. For established companies, they use marketing as a tool of determining the changes they ought to make to their products or services so as to enhance sales. Generally, companies use marketing to determining appropriate strategies to use in sales, development and communication with an aim of increased sales and containing competition (QuickMBA, 2010).
Due to the limitation of resources, organizations ought to strategically plan. Therefore, organization strategically plans the marketing process hence concentrate their limited resources to the greater opportunities available. When the process is effective, the company may realize sales increase and hence achieve competitive advantage in the market. The strategy may enable a company to fill the needs of the market and hence reach the objectives of the market. A good strategy has to effectively scan both the external and internal environments. This can be achieved via appropriate Strength, Weakness, Opportunity and Threats (SWOT) analysis. After the analysis then a company may set a strategic plan for market, establish goals, identify alternatives in the market, determine market mix and implement them (Taylor and Francis, 2011).
Strategic marketing plan
An effective, efficient and adaptable marketing plan has several components. These components help in the implementation and achieving results via the plan within a reasonable time frame. For instance, a good marketing strategy has to posses a good, realistic and effective mission statement and or purpose. This statement helps in describing the basic function of the company to the society it serves with regards to the services and products it produces for consumption (Slide share, 2011).
The components of the mission statement