Strategy is a long-term activities/plans which are made by some business to attain their peculiar focuses on/goals. (hyperlink 1)
According to Michael Porter the strategy is all about the mixture of different activities which are differentiated from opponents to pronounce unique mixture of value. To him it's all about differentiating yourself from customers as well as challengers. (link 2)
"With out a strategy the organization is like a ship without a rudder, on offer in circles" - Joel Ross & Michael Kami (lec-1)
"A online marketing strategy is a process or model to permit a company or organization to target limited resources on the best opportunities to increase sales and therefore achieve a lasting competitive advantages". (hyperlink-3)
"The group of objectives which a business allocates to its marketing function to be able to support the overall corporate strategy, alongside the broad methods to achieve these targets" - Chartered institutes of marketing (lec-2)
The above two good examples show that, marketing strategy is actually the strategy that support overall corporate and which a company has to use efficiently to advertise its products on best opportunities while converging the limited resources to attain its goal.
"Marketing planning is a rational sequence and a series of activities resulting in the environment of marketing targets and the formulation of plans for achieving them" (link-4)
Now we can interrelate all the above conditions with the help of diagram below.
The above diagram demonstrates an organization has to set business goals which are actually the target of company or mission statement. The next level comes of marketing strategy which is esteemed guideline that company has attained to advertise their products. After building the marketplace strategy company steps frontward towards marketing combine in which it define the whole marketing mix i-e Product, Costs, Place and Syndication. Afterwards the procedure of writing of marketing programs will come in which company must describe the complete market activities which are used to obtain business goals. (website link-3)
1. 2 Effects of strategy on marketing planning:
Under this going the strategies of firm will be discussed and the influences of that strategies on the marketing of company will be discovered. What effect that strategies will put on organization's long haul and short run may also be discussed.
Here we live discussing Fresher marketing strategies. As described early on it is a Pakistani local company that is making 100% 100 % pure juices which is one of the marketing strategy of Fresher which make it distinguishes from others. The company has many rivals in the same line of 100% fresh juices i-e Nestle, Shezan, Minute Maid etc. However the Fresher is prosperous yet to maintain the no. 1 position in the brands of 100% clean juices. And in addition Fresher is successful to keep its placement against Nestle and other strong brands like Minute Maid.
The advantage what Fresher are certain to get because of this strategy is that competitors aren't attaching it from all the edges. Only fresh drink companies want to add its strategies. It does not have any concern with any products of rivals.
Another strategy of Fresher is that they are using PET BOTTLES instead of juice boxes which made their product simple to operate for the customers and the look of the brand product is completely not the same as others. They are also using SHRINK WRAPS for the packaging of the products. The one more thing which makes their product discriminate is tags hanged with the bottle of juice which a little description of brand and ingredients are written. These tags make the appearance of the merchandise more graceful and it again helps to make a solid placement of the brand.
The promotion strategy that Fresher pursuing is WORD OF MOUTH. They are using any strong campaign strategy which again identify the brand from others in market. But as they are not centering the ad strategy now when they very much stabled in market, they can ruin their positioning as well.
Fresher has strong circulation strategy which includes been helping the brand to be strong up to now i-e they used Spin OUT strategy of distribution. They started the distribution of the product using their company own city and they spread it in other locations with the passage of time when that they had grown enough on the market. The strategy has a benefit that other strong rivals like Nestle, Minute Maid etc didn't notice such small brand and didn't do something for that. Within the meanwhile Fresher came into on the market and had acquired a strong market positioning. Fresher had got another benefit of this strategy that is they looked after their resources with it. They started out distributing their product in their city only so when they have received enough money they pass on it over other towns of Pakistan as well.
1. 3 Component parts of a marketing plan:
Parts/Categories with which a marketing plan comprises of are called the different parts of marketing plan. Here the proceeding will elaborate most of its parts one by one.
It is the first element of the marketing plan which clarifies the synopsis of the whole marketing plan for the quick review by the management of the business. Usually three issues are brought up in this part.
Challenge includes a little elaboration of product for which marketing plan is made and the conclusion of goals such as sales numbers and strategic goals. .
Company analysis typically involves the answers to pursuing questions
What are goals of the business? To what thing it focuses more? What are the strengths of this company? From what culture it belongs? What exactly are weaknesses of the company? And in what market stocks it is available? etc.
In rivals analysis a short report about competitor's weaknesses, strengths, market position and market stocks is presented. (website link-5)
Current marketing situation:
It's a marketing audit which ultimately shows the current market situation of the company by checking it with the past situation of its own and with the market situation of rivals. It reveals data about the marketplace, product, competition and syndication.
SWOT analysis is actually the analysis where power, weaknesses, opportunities and hazards related to the merchandise (to be marketed) are given to truly have a complete look on company's evaluation. The firm's internal environment presents durability and weaknesses while exterior provides opportunities and hazards.
Objective and issues:
This proceeding defines the aims of company in various areas such as market show, sales, earnings etc. Also this category will package with all the issues and problems that benefit these objectives.
In this category a marketing strategy or approach is preferred to achieve the particular objective. It is the primary and important part of marketing strategy composition. The strategies will elaborate the marketing combination (product, price, circulation, advertising) as well.
In this task a written report is given about details of online marketing strategy. The report right answers such questions like how will all plan start? Who'll do it? What will be the cost of all plan? Etc.
The expected budget for the specific strategy is provided in the survey combined with the profit and reduction statement that forecasts the expected financial final results from the plan.
Indicates the way the progress of the plan will be monitored. (lec-5)
1. 4 Hazards and advantages in the devised marketing plan:
Fresher is having a huge threat in the market due to its lack of advertising campaign strategy now when it has gain much credibility. Other opponents on the market has generated strong image through their advertisement campaign strategy. Now it is the time when Fresher might think of earning a strong and highly attractive advertisement to chuck behind all the rivals.
Fresher is devoid of a properly educated team of employees and it don't possess proper departments such as HR division, R&D section, Marketing division etc. Therefore the employees working in the competitor's company are more experienced and they can make proper decision at proper time. Fresher must focus on it as well. It could form an effective team in order to compete in the best market.
As Fresher employees aren't that educated in their unique field, they have disagreement in selecting strategies. This is the major risk for the Fresher in the market as it could lead to land of the business.
Fresher has specialized workers only in neuro-scientific making juices. Their worker knows the formula and they're best trained workers in juice making as they have to make only 1 products at one time and they concentrate fully onto it while rivals of Fresher have more than one products so their employees have less control on drink making.
The earlier promotion strategy of Fresher (word of mouth strategy) is quite impressive as no competition can concentrate on forthcoming new brand in this way. It gave Fresher to expand speedily in market.
The different packaging of Fresher container made them different plus they expand doubtlessly in the fresh drink market.
The biggest benefit to Fresher was the release of 100% fresh drink first on the market which will make them differentiate from the opponents and so they expand swiftly.
Also We Can Offer!
- Argumentative essay
- Best college essays
- Buy custom essays online
- Buy essay online
- Cheap essay
- Cheap essay writing service
- Cheap writing service
- College essay
- College essay introduction
- College essay writing service
- Compare and contrast essay
- Custom essay
- Custom essay writing service
- Custom essays writing services
- Death penalty essay
- Do my essay
- Essay about love
- Essay about yourself
- Essay help
- Essay writing help
- Essay writing service reviews
- Essays online
- Fast food essay
- George orwell essays
- Human rights essay
- Narrative essay
- Pay to write essay
- Personal essay for college
- Personal narrative essay
- Persuasive writing
- Write my essay
- Write my essay for me cheap
- Writing a scholarship essay