Registration Number Essay Example

  • Category:
    Business
  • Document type:
    Essay
  • Level:
    High School
  • Page:
    3
  • Words:
    1562

3STRATEGY DEVELOPMENT

STRATEGY DEVELOPMENT

Registration Number

STRATEGY DEVELOPMENT

Strategic development strategy refers to the declaration that offers the strategic direction for an upcoming market programs such sales strategies, marketing communication and also the product strategy (Blythe, 2006). In this regard, the expression of strategy follows the application market development strategies through use of Millennium Development and Sustainable Strategies.

Indeed, the primary aim of any marketing strategy is to assist the business grow and also realize an increment in the awareness of the brand plus also solidifying trust with the present client through convincing him or her that the current product is the best (Blythe, 2006). However, there is need to know how this strategies work towards realizing the stated objectives. For this reason, the paper will present on the strategies towards development in marketing throughout its course (Blythe, 2006). Similarly, the paper will discuss this issue by following the below sub headlines.

STRATEGIC THINKING – DECISION MAKING

In this section, it presents the nature of the market system of the group. At the same time, this section also covers on that is intended to be marketed plus the likely completion to be in place during this time (Lehu, 2007). On top of this, current information also has data on;

1.1 Stakeholders

Stakeholders here are the members of the group, donors, supporters, well-wishers, supporters, volunteers (Lehu, 2007). Their details that are important in the formulation of marker strategy development are gender, earnings, occupation, level of education, ethnical background, area of locality and personal etiquettes such as opinions, attitudes, interests and other form of lifestyles. With regard to stakeholders, the information should cover on what they need, their stand, thought and previous researches conducted over them in particular.

In relation to stakeholders, the current information should also entail the potential competitor, colleagues or partners (Lehu, 2007). In this regard, the information sought here should cover on the goals of the competitors, what they provide and what they don’t provide, the way they operate and where they intend to be after a period of sometime. When also developing market strategy, there is need to consider the government in place with regard to where the existing government fits in and the impact in which the same government has towards the organization.

    1. Performance

Apart from stakeholders, when designing the market strategy is the performance. Performance on its part will entail the indicators of the performance itself, the possible contributors that facilitated the realization the previous strategies and the period in which they provided such assistance (Blythe, 2006). At the same time, the instance should include what the well-wishers contributed during their time and whether such support contributed positively or negatively towards the organization. Likewise, if it was a positive gain, then what are the same to losses where the instance also covers the losses realized due to the support from the contributors (Lehu, 2007). If they are losses, the strategy should state on whether is possible to rectify them or not towards reaching a better marketing. Not forgetting, performance also entails the weak points and also analysis on whether each and every one is at the same situation where the organization is as at the time of formulating the strategy.

    1. Mission & Strategic Intent

In this part, it covers on the external influences such as economy, demographics, and the culture of the surrounding society and the resulting effects of these aspects to the organization (Blythe, 2006). For instance, during formulation of the strategy in marketing development,, context should also cover the potential changes or trends that may have some impacts to the organization. For instance, it should tackle on the awareness that the organization has over the instance and whether the group can take and advantage over it to acquire more member or luring of more donors (Blythe, 2006). On the same note contextual analysis also covers on the effect of the government, local or any form of administration has on the organization. If they have the effect, then what are the like impacts of the same in the future operation of the organization? Likewise, the contextual analysis also covers on the new regulations or taxes plus the likely effect such regulations will affect the work input of the employee in particular. On top of this, the aspect of contextual analysis does not forget the new technologies in the organization and also their likely effect to the organization

  1. SWOT Analysis

Besides the current information that forms the greatest aspect strategy development in marketing, another critical component is the SWOT Analysis. SWOT itself is the acronym for Strengths, Weakness, Opportunities and Threats (Blythe, 2006). The analysis of SWOT provides the information that evaluates on the organization’s weakness, strengths, opportunities and threats that on organization is likely to meet in its marketing strategies.

  1. Marketing Objectives

After conducting SWOT analysis, it is advisable to evaluate on the issues that require planning with the purpose of realizing successful marketing strategies in the long run. For example, it is advisable for the organization to identify on those issues that the in intended marketing plan seeks to address including goals and strategies that will lead towards realizing a successful marketing plan altogether (Lehu, 2007). Consequently, the objectives should also be in form of goals of marketing strategies for the organization. For instance, the objectives should be such simple such that they may be easily measurable in comparison to the results expected from them. For example; “we intend to finish this project by….”

  1. Product-Market Strategies

. A good example in this case could be that of the case where the organization’s marketing objectives may have intention to recruit 200 members. In this regard, the possible strategies that could lead to the realization of the same could be as stated below;(Lehu, 2007).Product, Price, People, Promotion, Place and Positioning where the organization intend work with in realizing the strategies. Similarly, the instance should state on how each strategy will correspond with the items listed in the SWOT analysis After completing the sections so far identified above with regards to strategic development in marketing, the next step is to state the marketing strategy that in this case spells out the logics that will help in realizing the identified objectives (Lehu, 2007). For instance, marketing strategy should state the organization’s targeted market and also the specific mix of the 6 Ps;

. The instance here could signify the use of direct contact with the current members and inviting them to the network and also use of the organization’s already existing members to also lure the new members into the organization.(Samli, 2013)Strength Analysis; the organization’s size, networking and the abilities plus how each of them relates to the marketing in place towards achieving the intended goals or aims

. For example, sometimes the use of direct mail may not work due the fact that the targeted community may be backward with respect to accessibility or use emails. Following this development, the attainment of the goal may look quite impossible.(Samli, 2013)Weak analysis; may entail the unavailable elements that may not lead to the organization achieving the type of marketing it currently practices towards winning the targeted 200 new members

In this regard, the organization may opt to advocate on the issues that the society previously realized with inclusion of the media technology in helping them join the organization(Samli, 2013).The opportunities; refers to the instance that are likely to assist the organization realizing the identified aims in marketing plus its methodologies

The instance here could include another group similar to the organization that in the past tried to achieve the same objective but failed to materialize. In this regard, the organization should evaluate on the factors that made it not possible for the similar organization that never achieved the same objective in the same field. At the end of evaluation, the organization should take then precautionary measures to avert the same so that it is successful at the long run.(Samli, 2013). The Threats; refers to the likely hindrances that the organization may meet in its target of winning the new 200 recruits in its team

SEGMENTATION, TARGETING AND POSITIONING STRATEGIES

This section defines the intended plans that the organization seek to fulfil with the objectives of realizing the stated marketing objectives. Following this instance, the aspect should specify on what is intended to be done, the time of doing it, the responsible persons towards it, the cost of doing the same and the measurable project outcome.

  1. Required Resources

The required resources for an effective marketing plan are people, money and technology. In this regard, this section outlines the details concerning the same. However, what comes out from this section must get an approval from the respective management committees in the marketing sector in an organization.

  1. Monitoring and implementation

Monitoring is the last section that provides the outline of the controls that will lead to the supervision of the progress being made in realizing the identified marketing strategies (Samli, 2013). For instance, it will entail the review of the outcomes from time to time with the objective of finding out if the implementation of the plan is in line with the stated goals. In case, it does not, then modification is necessary.

Bibliographies

Blythe, J. (2006). Marketing. London: SAGE Publications.

Lehu, J. (2007). Branded Entertainment. London: Kogan Page.

Samli, A. (2013). International Consumer Behavior In The 21st Century. New York, NY: Springer.