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Challenge of strategy implementation
Challenge of strategy implementation
Processual approach to making strategy
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Introduction
There are many elements to developing a marketing strategy. However, each element of a marketing strategy should in essence add customer value to the products or services being offered. Indeed the main purpose of marketing management is to bridge the gap between the multiple divisions of an organization and the internal and external business environment. The marketing management is accountable for various activities such as product development, promotion, pricing and distribution decisions, as well as market segmentation and marketing research (Briggs, 2001).
The complexity in developing a marketing strategy is no less evident than in the tourism industry, one of the most highly competitive industries in the world. In the UK, holiday-makers take some 36 million overseas holidays each year. Of these, almost half are "packaged holidays" - where the consumer buys a complete package of accommodation, flight and other extras - all bundled into one price. This is a highly competitive market with a small number of large tour operators (including MyTravel, Thomson Holidays, First Choice, JMC) all competing hard for market share (Business Casebook, 2004). Effective tourism marketing will create competitive advantage for the tour operator by ensuring that their delivery is superior to their competitors (Jefferson and Lickorish, 1991).
This report focuses open the multiple factors that a marketing strategy of a company must encompass in order to provide maximum potential value to the customer. To illustrate the importance of these factors, the report will utilize the tour operator MyTravel to provide examples of why each of these strategic factors plays an important role. At the same time the structure of the report will be based upon Nigel Piercy's concept that marketing strategy processes fall into either defining, developing or delivering customer (Piercy, 2002).
Company Profile - MyTravel
In November 2001, global tour operator Airtours launched MyTravel, an e-commerce initiative under which it would link several tour operators, with their brochures, call centres, high street shops and new media sales channels under one travel provider. The MyTravel channel, covers consumers in the UK, Scandinavia, Germany and the US. The major problem then was to establish a marketing strategy for MyTravel that could account for all the many elements not only selling holidays but accommodating the separate divisions of the group (MyTravel, 2006).
Defining-Customer Value
1. Marketing Information
Even before any marketing strategy can be devised an organization will require specific information on the markets the company are targeting and the consumers within those markets (Sharpley, 2002).
The corporation can use its name as its strong base to attract the attention of new customers as well as to make certain that it is holding on to the old ones. Furthermore, economy of scale plays a significant role in this industry. Travelodge has a higher profitability aspect than the single operations (Wilkinson, 2013). If a new competition enters the market, they will find it difficult to compete with Travelodge as setting a proper quality and price regarding the economies of scale takes time. For Travelodge management, the capital intensive industry is tied with the fixed costs which make the entry of any entrant extremely
(A) Marketing- the management process through which goods and services move from concept to the customer. The main purpose is to increase sales of the project and profits of the company.
This research seeks to reveal the importance of marketing strategies in today’s complex and competitive business world. For this reason, this study will discuss various theories, issues and approaches of the marketing linking them with W.L. Gore & Associates and thereby propose the best options, ideas, strategies and techniques for the improvement of the company. To reach the points, this study will especially collect secondary and qualitative data and information.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
A marketer doesn’t just have a plan. Marketers now open up to a wider strategic plan and it’s based on steps that balance out what the market is offering consumers. These marketers must analyze their production with these steps, then make a portfolio of the growth and even their down falls therefore this keeps these marketers to continuously innovate and create even a greater amount of value for their customers. Marketing management functions are discussed along with the marketing mix and strategy.
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
Primarily, strategic marketing initiates its process through market research, thereby inculcating the optimal target customers throughout the development phase of the product or service. Market research enables the firm to identify trends from the horizon, especially by studying major competitors in the market that eventually informs the firm’s product designs and development. Strategic marketing does thus enable the company to use to researched information to differentiate products for individual client niches, which provides the firm with a competitive
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
Tourists are more dependable on website to get the information and overview of destination. Therefore one of the website of bay of island is www.tourism.net.nz, which gives complete information. In this assignment, we will mainly discuss about marketing mix, customer wants, creating value for the customer, destination location and tangible experience from tourism marketing perspective.
Marketing Principles Marketing is all about understanding the customer and ensuring that products and services match existing and potential customer needs. Marketing is essential to a business and without it a business cannot give its customers what they want. There are five main points to marketing and they are, · Understanding customer needs · Understanding and staying ahead of competition · Communicate with customers to satisfy expectations · Co-ordinate its market functions to achieve its' marketing aims · Be aware of marketing constraints. These points seem very obvious and basic, and yet they are all very in-depth, and very important to a business that is involved in marketing. If a company has its marketing strategy wrong, then it could result in financial hardship for the company.
Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.
Marketing is a vital component in the success of businesses. Smaller businesses rely on business advertising, expenses, knowing if the business is networking with the right people, or joining the best organisations that lead to success (EStartup business blog, 2010). Marketing concentrates on customers and what the customers want. Customers are the source of sales and profits. Many small businesses are faced with remarkable hardships due to not developing the right marketing plan (EStartup business blog, 2010).
It is not secret that marketing plays one of the key roles of a successful business. As Phillip Kotler said: “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential”. Simply stated, marketing is everything you do to place your product or service in the hands of a potential customer.
The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits
An organisation strategies that combine all of its marketing goals into one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the right product mix in order to achieve the maximum profit potential and the business. marketing strategy is one way to achieve the goal of a company. The destination marketing is the first and best in class in meeting the needs and aspirations of consumers. Besides that, being a key partner for our customers, consumers and communities. Eliminating non-value added activities of the process. However, the aims to increase the target profitable growth and provides benefits above average employees and shareholders. There is an example of marketing strategies that used in Rejoice company. The 4P’s are influence the marketing strategies.