International Business



International Business

Introduction

Every business has its strategies and plans at hand in order to achieve their goals and objectives both at long term and at short term. One can say that most of the organizations in this world strive for high revenues and share holder satisfaction, and this hunger for revenue and success is the reason which keeps an organization on it toes and against its competitors. No matter if the organization is small or large, international or not every organization makes strategies at through which they are meant to achieve their goals in the future, and if these strategies are not fully worked out, the consequences can be devastating.

Whereas, a Marketing plan is a plan which is made in order to promote a product or service after its launch or before in order to gain revenue and benefit the most out of these products and service. Companies spend a lot of cash and other investments in order to produce and come up with new innovative products and services. Research and development costs bared is in millions some times, yet if these services and products are not properly marketed and promoted, a company will face grave looses , which sometime creates going concern problems at worst.

Hence, the relationship between a company's strategic objectives and its marketing plan for a product or a service is not variable and so in order to keep the strategic objectives at par and achievable, it is crucial for a company to understand and initiate a marketing plan which is flawless and innovate at most (Daniels, 2007).

Strategy and Marketing Plan

The strategy of an organization no matter if that strategy is made at a tactical level or at a senior executive level, will definitely affect a marketing plan and strategy of a product or a service. In simple words, if a company's strategic objective is to create and provide the best customer satisfaction in the market, the marketing plan of this company's product will focus on marketing strategies that promote user friendliness and customer satisfaction at most.

The relationship between a company's strategic objective and a product\service market plan is not inverse, the strategic objectives of a company directly affects the marketing plans of the company. If the marketing plan deviates for the overall strategic objectives of the company, the situation will inevitably lead to loose and troublesome times for the company which can take a lot of time to heal and re-establish companies' image.

Strategic objectives of a company can impact the marketing plan of product or service both positively and negatively depending upon the factors that are present. Factors mainly constitute external to the organization, like the consumer that is being focused, the environment in which the product or service is being launched or the environment in which the organization operates itself. Furthermore, depending upon the share holders' requirement, the marketing plan of an organization can be bent if not broken in some circumstances. Reducing marketing and advertising costs and expenses are one of the most commonly seen strategies seen followed by major companies ...