MKF3151-Market Led Strategic Management Report Writing – Management Assignment Help

Assignment Task

Task

The purpose of marketing is to contribute to maximising shareholder value and marketing strategies must be evaluated in terms of how much value they create for investors”

Radical strategies: 

Results in spectacular growth in sales and profits. But such strategies are acquisition based or marketing dept. based (high levels of advertising, lots of product lines) or they are PR based (media hype to attract customers)

 Is it sustainable?

Rational strategies: 

Achieve high, short term performance through product innovation (superior, cheaper). But offer no defensible, sustainable competitive advantage. Do not build long-term relationships with customers, fail to produce long-term shareholder value.

Robust strategies: 

Achieve steady performance over the long term by creating superior customer value and building long-term all stakeholders in the organisation.

Balance between short term and long term.

Marketing concept: 

That within increasingly dynamic and competitive markets, the company that is most likely to succeed is the one that takes notice of customer expectations, wants and needs and gears themselves to satisfying them better than their competitors

The role of marketing in strategy:

• Identify and communicate customer wants and needs throughout the organisation.
• Determine the competitive positioning to match the needs of the customers with company capabilities.
• Engage all relevant organisational resources to deliver customer satisfaction.

Customer Analysis & Competitor Analysis:

Recall possible stakeholders:

1. What is the customer?

Consumer insights: 

2. Who are the prime market targets? – What gives them value?

3.  How can they be brought closer? – How can they be better served?

4.  How will customers and their requirements/needs change?

5.  How should we pursue them?

6.  Which new customers should we pursue?

Understanding customer key questions WHO is involved in buying and consuming? WHAT are their choice criteria?

7. WHEN do they buy / use the product? 

8. WHY do they buy / use the product? Where do they buy?

9. How do they use the product?

10. how can we understand all of this? Through marketing research methods

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