Strategic Marketing - 3492 Words

Strategic Marketing Contents Abstract Strategic marketing is the plan and roadmap of an organization which help to fit the marketing objectives with corporate vision. An organization’s ultimate target is to achieve competitive advantage in the market. Strategic marketing assists an organization to implement its marketing strategies to create positioning in the market so it becomes easy to achieve competitive advantage. TechCom Electra, an organization that produces electronic products like TV, refrigerators, CD and DVD players, micro wave, has come in the market and running its commercial operation for two years. The organization wants to develop a strategic marketing plan so it can achieve competitive advantage within few†¦show more content†¦Without quality product it will impossible to achieve. So by focusing into customer concept, product concept is also accomplished. Figure 1: The customer Concept 1.1.2 Resources and Implementation and monitoring control To achieve the strategic marketing objectives it is important for the organization to utilize and implement its resources appropriately. Resources include both financial (monetary funds, debt/equity ratio, profit earnings capabilities etc.) and non-financial (human, plant, equipment, raw material, technology etc.). It is also important to establish a vigorous controlling and monitoring system. This helps to minimize the chance of wastes and losses and also enhance the degree of work. 1.2 Corporate Strategy and Marketing Strategy The main objective of organization is to attain sustainable competitive advantage in the market. To achieve objective it has developed a broad strategy and there are other department which has also developed their own strategy. A suitable marketing strategy is the easiest way to attain corporate objective. Marketing strategy emphasizes on the customers more who are the value creators of the organization. The more value will be created the more competitive advantage is achieved. We can relate our corporate strategy with marketing strategy as follow. Corporate Position Corporate Strategy Marketing Strategy Attractive Market Strong Position Invest best resources Offer bestShow MoreRelatedStrategic Marketing1098 Words   |  5 Pages Strategic Marketing Lauren Hartshorn Grand Canyon University: LDR 620 October 31, 2012 Strategic Marketing A successful strategic marketing process must be thoroughly developed prior to implementation. A strategic marketing plan according to Vega Rojas (2010) is â€Å"to assign and to coordinate effectively the marketing activities and resources in order to achieve the company’s goals or strategic mission (p. 3). The strategic plan must include target goals consistent withRead MoreStrategic Marketing1052 Words   |  5 PagesRunning head: STRATEGIC MARKETING PROCESS Strategic Marketing Process Strategic Marketing Process In order for an organization to reach its target markets, it must use the strategic marketing process to allocate its marketing mix resources. The marketing mix is elements, such as price, product, place, and promotion (also known as the 4 â€Å"P†Ã¢â‚¬â„¢s) used in the make up the marketing process (Bayne Hardin, 2002). It is important for an organization to have a good understanding of the marketing mix. 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While non-profit organizations differ from profit seeking firms in several ways, non-profit organizations need to engage in marketing efforts to generate financial revenue to support their causes. All businesses need marketing plans to generate revenue and measure results. In non-profit businesses, community service target levels and education service target levels can be used to measure results. Unlike profit seeking organizations that focus on marketing solely toRead MoreScope of Strategic Marketing6518 Words   |  27 PagesChapter 1 Scope of strategic marketing Marketing is a philosophy that leads to the process by which organizations, groups and individuals obtain what they need and want by identifying value, providing it, communicating it and delivering it to others. The core concepts of marketing are customers’ needs, wants and values; products, exchange, communications and relationships. Marketing is strategically concerned with the direction and scope of the long-term activities performed by the organizationRead MoreStrategic marketing management7451 Words   |  30 PagesTesco Stores Ltd, Tesco Bank, Tesco Mobile Website : www.tesco.com Strategic marketing management is the process of formulation, estimation and implementation of marketing strategy by an organization. Indeed a marketing strategy aimed at differentiating the business in a positive way with respect to its competition through satisfying customer needs. According to Tony proctor (Strategic Marketing, 2000) a strategy is a plan that integrates an organization’s major goals, policiesRead MoreStrategic Planning And Strategic Marketing Planning795 Words   |  4 PagesStrategic marketing planning was formally introduced in 1950s with its all reviving attributes. The big organisations helped to grown the strategic planning orderly, it called comprehensive structure, later it adopted by numerous big and small organisations, George A. Steiner describes in his book â€Å"Strategic Planning†. There are various definitions of market strategy and every definition has its own aspect (Li et al 2000). According to Wensley (1983) marketing strategy is an act, a practice and a

Should The Minimum Wage Be Beneficial - 2775 Words

Crazy Wage Mike Durant once said, â€Å"Making it more expensive to create new jobs is a perfect way to guarantee fewer of them.† The recent, â€Å"Raise the Wage† campaigns have sparked an interest in many low-wage workers. However, those who support this initiative are unaware of the economic problems that will arise if this is successful. Several cities have already raised their minimum wages and some, like Seattle, are raising it as high as $15 per hour. Currently, supporters of this campaign argue that the government should implement this increase federally. However, doing so will have broad and adverse financial implications. Ever since the Great Depression, the minimum wage has been in effect — to reduce poverty and solidify that†¦show more content†¦Throughout the past several years, with the advocacy of many adherents, the idea that the government needs to increase the federal minimum wage to $15 has developed. As a result of the Great Depressio n, in 1938, the federal minimum wage was put into effect as a part of the Fair Labor Standards Act. The government established the federal minimum wage to ensure that employers were not underpaying their employees, and many states also have set other varying minimum wages as well based on the cost of living in those particular areas. According to the US Department of Labor, Wage and Hour Division, â€Å"The federal minimum wage ranged from a low of $3.09 in 1948 to a high of $8.67 an hour in 1968† (Pye, â€Å"No we shouldn’t raise the minimum wage†). Also, according to the US Department of Labor, Wage and Hour Division, â€Å"The historical average minimum wage was $6.60† (Pye, â€Å"No we shouldn’t raise the minimum wage†). Many supporters of raising the minimum wage want to increase our current federal minimum wage of $7.25 per hour to $15 per hour, which is more than double the average, more than twice the current, and almost twice as muc h as the all-time high minimum wage. James Sherk, Senior Policy Analyst in Labor Economics, concluded the following from his research: â€Å"Congress typically raises the minimum wage only

Why same-sex marriage should be legal Free Essays

Why same-sex marriage should be legal. BY aurore1997 Ladies and gentlemen, good morning. Here we are today about to debate whether or not individuals in love with each other should be able to get married or not. We will write a custom essay sample on Why same-sex marriage should be legal or any similar topic only for you Order Now Yet twelve years and 3 months is the time that has passed since the first homosexual marriage was made official in a Canadian province. Since 1996,because of the Defense of Marriage Act which prevented-and still does- homosexual couples from receiving benefits traditionally conferred by marriage ; states have scrambled to efine their own stance on the issue. The restriction of marriage to heterosexual couples should be abolished because it is discriminatory to homosexual couples. Most conservatives use Christianity as a backup for their argument. But unlike what they may all think, homosexuality is not a sin. It is a strong tendency ordered towards a moral evil, you may want to discuss this point but it was said in a Vatican letter in the year 1986. Under the papacy of his holiness John Paul II. There’s absolutely no eason of principle that emotional union should be restricted to heterosexual couples. Nor are there any constitutional reason,in fact the act that ‘defines’ marriage to be the union of a man and a woman was proven unconstitutional. As it goes against the tenth amendment of the United States constitution. We believe that our society is open-minded but the issue of gay marriages proves us wrong. Homosexuals are called perverts by the majority of the world population. People that are supposed to set examples do not, in February 2004, a Belgian cardinal publicly aid that he would not open his door for any homosexuals because they are sexual perverts. They are not perverts, they are sensitive humans like you and me , they just have a different sexual orientation, in fact a recent study proved that homosexuals rate their relationship more favorably than heterosexuals do and the average homosexual relationship lasts longer than the average heterosexual relationship. According to this study they ‘know how to love’ better than heterosexuals do. Despite all these factors, people still dare to call homosexuals perverts Just because they are the minority. Is this not similar to racism ? In my opinion it sure is. Regarding the Belgian cardinal harsh words,a Vatican spokesperson said, â€Å"People with a homosexual inclination must be accepted with respect,compassion and sensitivity†. Homosexuals feel more accepted after the marriage according to a survey. They also observed that people give more credibility and less perversity to their relationship when they are officially and legally arried. We observed through bullying that what society feels about you can make you feel confident but it might as well push you to suicide. Refusing to legalize homosexual marriage gives the right to society to mock homosexuals and to exclude them because they are different. Exile leads to depression and to suicide in most cases. Do we want more unnatural deaths in this country ? I am sure we do not. The restriction of marriage to heterosexual couples should be abolished because it is discriminatory to homosexual couples. How to cite Why same-sex marriage should be legal, Papers