Essay about Marketing Analysis : Marketing Strategy
Marketing is a management process through which the customers’ requirements are fulfilled by selecting and developing a product, supplying it through a distributional channel and involves development and implementation of promotional strategies and price determination. For example, Electronic giants such as Apple and Samsung develop new devices and applications at much quicker pace now and finds a way for it to reach in customers’ hands by promoting and advertising it through web, television and media. Marketing, thus is required in every business to succeed and getting this fulfilled by keeping in mind the customer’s need and satisfaction.
Fig.1 Marketing, leads to sales and growth. Retrieved from http://www.experiamarketing.co.uk/
Strategic marketing is investigating, understanding the market circumstances, programming and implementing a market strategy. Identifying competitive market advantage and allocating the resources according to consumer’s demand is a part of accomplishing marketing strategy.
Question 1. Role of Strategic Marketing: Marketing is one of the major aspects of a successful business administration as it affects all the activities in an organisation and coordinates other important factors in achieving growth and maximizing profits (Edmunds, 2015). Processes such as planning, decision making, selecting and pursuing market opportunities which further derives sustainable competitive advantage.