Marketing Management Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Marketing Management Strategies and Factors. Answer: Introduction Marketing is one of the most important parts of any business or any organization. the marketing of the organization defines the strategies and the ways of distributing and promoting the business or the products of the company to the public and the market. The process is one of the most essential part of any organization as it helps the company or the managing department of the organization to get more customers and to spread their business in a large scale. The marketing of the company is done by the managing department or the authority of the organization by following some of the mostly used and beneficial ways or strategies. The following report deals with the various aspects of the marketing strategies of a company and how the managing department of the organization would use the strategies for the betterment of the company or the trade of the organization. Discussing about the marketing strategies of a company there are some of the common and basic factors which should be mention ed which are discussed in the further report. The following report contains the marketing mix strategies for a company along with the market module of that particular company. not only the marketing mix strategies but the issues faced by the managing department of the organization regarding the marketing of the company are also mentioned in the further report. The ways or the strategies that the company or the managing department of the organization uses for the prevention of the issues are also a part of the following report. These are the information that will help the reader of the project to get more knowledge on the marketing strategies of a certain company. the assignment will not only help the readers of the project but it will also help the managing department of the organization for the determination of the marketing strategies required for the company or the business of the organization. these are the prime and the basic factors that the managing department of the organiza tion would have to be aware of for the development of the marketing of the business. Marketing mix strategy Marketing mix is one of the process of marketing the products or services and the business of an organization in the market or among the consumers. As mentioned earlier, the marketing strategy or the way of marketing can turn out to be the key of any company as it decides the future of the company and determines whether the company will be up graded or degraded, it is the responsibility of the managing department of the organization to implement better ways of marketing in the workplace. The best way of marketing is undoubtedly the marketing mix strategy(Banks, Walker, 2012). This process is also known as 8p strategy . in this process the company or th4e managing department of the company would have to be concerned about eight various factors for the betterment of the organization or the trade of the organization. the factors that affect the marketing mix of the company are product, the pricing strategy of the products, the promotional strategy of the products, placement of the comp any or the launch of the product, people related with the company, partnerships, process of business and the physical resource needed for the company. these are the factors that the company or the managing department of the organization would have to be aware of for the conduction of the business in a successful manner. Product The only thing that represents the organization in the market or among the customers is the product or the service that the managing department of the organization is providing to the customers of the company(Kalaitzandonakes, Phillips, Wesseler, Smyth, 2016). there are many organization that serves the same product to the customers. thus in a market of such rivalry and competition, the managing department of the mentioned company would have to provide something better and something unique to the customers, otherwise, the managing department of the organization would not be able to attract the customers. for the development of the products, the managing department of the organization would have to get the information about the products of the other rival organizations, this will help the company or the managing department of the company to design their products in a better way. This is how the managing department of the organization could be able to attract the customers(Lonkila, 20 11). Price The pricing strategy is another thing that the managing department of the organization would have to be aware of for the betterment of the organization. if the company or the organization can provide good quality products in a low cost, they will surely be able to satisfy the needs of the consumers which is the prime target of any company. whatever company it is, the main target of the managing department of the organization is to attract as much as customers are possible. For that the managing department of the organization would have to satisfy the customers of the company. low price strategy has always been useful for any company to attract more customers. in this process also, the managing department of the organization would have to perform a strong and successful competitor analysis for the betterment of their own pricing strategy. If the managing department of the organization gets the information about the pricing strategy of the rival companies, it will be easier for them to determine the price of their product. Promotion After the determination of the price of the products, it is the time for the managing department of the organization to promote the products or the services in the market or among the public(Lonkila, 2011). If the product or the service or in one word, the business of the company is not promoted among the customers, the customers would not be able to know about the company or the particular product which is obviously not good for the company. there are many ways to promote the products I the market, such as through television or radio which is one of the most widely used medium for promotion, other than this, promotional campaigns are also very much helpful for the company to promote the product of the company among the customers. if the managing department of the company can make good use of the promotional strategies, then they would be able to bring more profit in the business and would be able to develop the business of the company(Parker, 2006). Place The next point that the company or the managing department of the must be aware of is the place of the launch of the product. The environment of the business r the company is directly related with the mentioned point. If the environment of the business does not support the product or the service of the company, the product would not be able to please the customers and as a result the managing department of the company or the whole organization would have to face a severe downfall. To avoid this kind of happening, it is the responsibility of the managing department of the organization to be more concerned about the place of the business(Rider, Hasselberg, Waluszewski, 2013). For the selection of the correct place, the managing department of the company would have to perform a environmental analysis. this will help the managing department o the organization to know more details about the place where they are planning to run their business. These are the basic facts that the company wo uld have to be concerned of for the betterment of the placement of the product or the business as a whole. People As mentioned earlier in the above passage, the people related with the company are another aspect that affects the future of the company(Sawant, 2010). if the people of the place of the business are not supportive towards the business of the company, the managing department of the organization would never be able to get success for the company or the business of the organization. Thus the managing department of the organization would have to know more information about the people of the country of their business. This will also help the managing department of the company to get more accustomed with the society and the environment of the people of the nation. This is one of the most useful nod beneficial factors for the company, if the managing department of the company can make good use of the support of the people of the country, they would surely get success. Partnership Investment of the money in any organization or in any business is something which needs more attention and seriousness. Whenever the company or the business is divided in partners, the whole duty and responsibility of the business gets divided into them. Then it is the responsibility of the company or the owners of the company to maintain their own responsibilities accordingly, otherwise the partners of the business would indulge themselves into some kind of internal clash or conflicts, which is obviously not good for the future of the company. these are the factors related to the partnership in business, that the managing department or the authority of the company must be aware of for the betterment of the business of the organization(Van?k, Mikol, Ã… ½vkov, 2012). Process The process of business in not a single unit, it is connected to many things or factors, such as the production procedure of the company, the performance of the employees of the company, the performance of the managing department of the company, the behavioral aspect of the company and many other. All the factors in one word can be defined as the process of the business(Weinstein, 2001). Thus the managing department of the organization or the employees of the company would have to be more concerned about the development of the mentioned factors. If the mentioned factors are not developed to the mark, the managing department or the authority of the organization would never be able to get success in their business. Thus for the betterment of the trade of the organization, it is the responsibility of the company or the managing department of the organization to be aware of the mentioned facts and to apply the needed strategies for the improvement of the organizational factors. Physical resource For any organization or business, the physical resource plays a vital role, if the managing department o the company do not have enough employees for the completion of the tasks in time, the managing department of the organization or the company as a whole, would not tube able to run their business properly. To decrease the work load from the workers of the company, it is the responsibility of the managing department of the organization to have more reliable and dedicated employees for the company or the trade of the organization(Wood, 2012). Marketing module Segmentation strategy Division is a standout amongst the most imperative and indistinguishable parts of showcasing technique. In this procedure, the administration of the organization separates the diverse segment of their organization into different segments. This procedure helps the administration to care for the business bitterly. In the division strategy, the prime focus of the administration of the organization is to separate the gatherings of their clients into various fragments. This will help the administration of the organization to comprehend the necessities of the clients of various age, dialect and culture. As the retail association is an open association to all, subsequently the administration must give administration to every single customer. For this situation the administration of the specified organization, Pumpkin Patch must play out a solid market investigation before outlining their market or business techniques. Subsequent to dissecting the market and in addition the client's desires, the distinctive sections of the administration ought to take a shot at the requirements of the clients and after that begin their generation methodology(Wood, 2012). As this is a standout amongst the most vital parts of promoting, if the specified organization appropriately take after all the required rules it will be simpler for the administration of the organization to get accomplishment in the starting of their new product. Targeting strategy Another vital piece of the promoting is the focusing on strategy of the organization. As specified before the prime focus of any association is to draw in as much as clients are conceivable. In the focusing on technique the administration of the organization must set an objective client first. After the assurance of the objective client, the administration must play out a solid client analysis(Parker, 2006). This will help the administration of the organization to comprehend what the correct prerequisites of the picked clients are. It is the administration of the Pumpkin Patch Company who are in charge of the focusing of the clients. As the said organization is a little scale organization, the administration of the organization must know about the way of life and morals of the clients. Articles of clothing of a man are some place in a roundabout way identified with his or her way of life. Along these lines to play out a focusing on system, the administration plays out a culture exami nation first. Taking all things together, if the specified organization is fruitful in playing out their focusing on appropriately it would help the organization to get accomplishment with their outlined procedure(Wood, 2012). Positioning strategy Last yet clearly not the minimum; the positioning strategy is another spirit part of the promoting of the item that the organization will dispatch in the market. Propelling another item is not a simple undertaking to perform. For that, the administration of the organization must do much investigation before deciding how the item will be and how they will advance the item in the market. Among the numerous examination that the administration of the organization needs to perform, a standout amongst the most critical investigations is the natural analysis. The administration of the organization must know about the earth and the way of life of where they are wanting to dispatch their new item. For this situation, as the specified organization is a little scale association, the administration and the representative should all the said rules for the advancement of their business(Yudelson, 2008). Issues related to the marketing strategy There are many issues that a company generally faces due to the marketing of the company. some of the issues are minor and can be sorted easily by the managing department of the company, but on the other hand, there are also some issues which cannot be solved so easily. For the prevention of the issues, the managing department of the organization would have to follow some of the basic and immediate action. The issues that generally occur in the workplace are mentioned in the next passages(Yudelson, 2008). Issue in employee performance Employee performance is something that decides the future of the company or the business of the organization. if the managing department of the company are not able to develop ot maintain the employee performance of the company, they would never be able to do their job properly with needed care and skill. It is the responsibility of the employees to do their works properly and to remain dedicated towards the managing department of the organization and loyal towards the company or the organization. most of the time, for the lack of the efficiency r the dedication of the employees, the production procedure or the other organizational factors would have to suffer, thus the lack of the employee performance can be regarded as one of the most harmful issue for the company(Yudelson, 2008). Issue in production procedure If the employees of the company are not doing their jobs properly, the direct effect will fall on the production procedure of the company which is another important and harmful issue that the managing department of the company must be aware of . if the production process of the company is not to the mark, the company or the managing department of the organization would be never able to produce better quality products and it would be really bad for the business of the company. which means, the issue relate to the production procedure of the company is very much harmful for the company or the business of the organization. Issue in customer service Customer service is the key to success for any managing department or for any company. the fist and the prime target of any company should be to serve better quality products or services to the consumers of the company. I f the managing department of the organization fails to provide better quality service to the customers, they would be disappointed and as a result, the managing department of the company or the marketing of the company would be harmed. Thus for the development of the whole organization as well as the marketing of the organization, it is the responsibility of the managing department of the organization to develop or to maintain the customers service quality of the company. the managing department of the organizational as well as the employees of the company would have to be concerned about the mentioned fact for a better result. Lack of employee satisfaction As mentioned earlier, the employees are the soul of any company, if the employees of the company are not satisfied with the managing department or the whole company and the facilities provided to them by the company, they would not be able to remain dedicated and loyal to the company. as a result, the employees of the organization would be disappointed with the managing department of the organization and might become disobedient. The mentioned phenomenon will surely harm the company or the working environment of the company. to avoid such issue, the managing department of the organization would have to look after all the basic needs and requirements of the company. Lack of customer satisfaction Another factor that the company or the managing department as well as the workers of the company must be aware of is the customer satisfaction of the company. The future of any organization depends upon the review of the feedback of the customers. and the feedback of the customers depend on the quality of the service that the managing department of the organization is providing to the customers. thus if the managing department of the organization fails to provide good quality service to the customers of the company, they would not be able to satisfy the needs of the customers and ultimately the company or the organization would have to face a severe loss or downfall. These are the issues that generally occur in the organizations due to the failure of the marketing of the business of the organization. if the managing department of the organization can follow all the mentioned aspects properly, it would be really easy for the company or the managing department of the organization t get success in a short span of time. Conclusion From the above report, it is quite clear that the marketing department is one of the most essential and inseparable part of any business. If the managing department of the organization fails with the marketing strategies of the company, the organization of the managing department of the organization would never be able to get success in their business. On the other hand, if the managing department of the organization can make good use of the marketing strategies for the development of the business of the organization, they would be able to get success for their company in a short span of time. The above report contains all the detailed information about the marketing of the products or services of a company along with the factors that affect the marketing of the company and helps the managing department to get a better marketing strategy. These are the prime purpose of the report to make it clear to the readers that if an organization do not pay proper attention to the marketing, the y would not be able to succeed in their mission. Thus it is the responsibility of the managing department of the organization to develop all the strategies which will act beneficial in developing the marketing of the company. if the managing department or the managing department of the company can follow all the mentioned guidelines in the above passages, they would surely be able to perform their marketing in a much better and strong way. References Banks, T., Walker, R. (2012).Corporate compliance and ethics institute, 2012(1st ed.). New York, NY: Practising Law Institute. Kalaitzandonakes, N., Phillips, P., Wesseler, J., Smyth, S. (2016).The coexistence of genetically modified, organic and conventional foods(1st ed.). New York: Springer. Lonkila, M. (2011).Networks in the Russian market economy(1st ed.). Basingstoke [NEW ZELAND]: Palgrave Macmillan. Parker, P. (2006).The 2007 Report on Mixing of Liquid Mixed Fertilizers(1st ed.). ICON Group. Rider, S., Hasselberg, Y., Waluszewski, A. (2013).Transformations in research, higher education and the academic market(1st ed.). Dordrecht: Springer Science + Business Media. Sawant, S. (2010). SWOT Analysis of Dabbawalla's.Prabandhan: Indian Journal Of Managing department,3(11), 38. https://dx.doi.org/10.17010//2010/v3i11/61182 Van?k, M., Mikol, M., Ã… ½vkov, K. (2012). Evaluation Methods of Swot Analysis / Metody Vyhodnocen Swot Analzy.Geoscience Engineering,58(2). https://dx.doi.org/10.2478/gse-2014-0036 Weinstein, A. (2001). Global Consumer Segmentation.Journal Of Segmentation In Marketing,4(2), 1-6. https://dx.doi.org/10.1300/j142v04n02_01 Weinstein, A. (2001). Global Consumer Segmentation.Journal Of Segmentation In Marketing,4(2), 1-6. https://dx.doi.org/10.1300/j142v04n02_01 Wood, B. (2012).Waves plug-ins workshop(1st ed.). Boston, MA: Course Technology Cengage Learning. Yudelson, J. (2008).Marketing green building services(1st ed.). Oxford: Elsevier/Architectural Press.