Marketing Strategy

Marketing Strategy

Introduction

This paper intends to discuss the significance of marketing strategy. There are different options of marketing strategy that varies according to the business requirements, the market situation and the underlying objectives of the companies. This paper will make the reader aware about the significant aspects of marketing strategies and elaborating with different examples wherever appropriate. The purpose of this paper is to make the reader aware about variant business concepts, theories and the importance of marketing in the world of business.

Marketing Strategies

The growing trend of expanding business globally has created several important queries for the marketing strategy to choose. Being global or expanding businesses globally requires the companies to imply the global strategies. Going international, requires the basic understanding of the culture of different countries in which companies intend to extend its business. However, there are several advantages and disadvantages attached to the implementation of global strategies. The basic advantages of global strategies are that the strategies remain according to the cultural and situational requirements of the different countries in which companies are investing (Charles, 2000).

The global operations of multinationals which are based in United States are considered to be extremely concentrated in America. These companies are always urging to enhance their presence in America and increase their size relative to foreign affiliates. On the other hand, the disadvantages of global strategies are that the companies need to invest a lot more in the understanding of the cultures and the maintenance of the employees in each of the countries they are expanding their businesses (Harold, 2011).

Integrated Marketing Strategy

An Integrated Promotional Strategy refers to the synergistic effects created by consistency in the message delivered through two or more marketing communication tools. The primary and other Below-the-Line Promotional Campaign techniques discussed above are used in a synergistic mix in order to communicate to the consumers from multiple sources regarding a unified message. This helps marketers in ensuring that their message is delivered to their appropriate audiences effectively (Charles, 2000).

Significance of Corporate Mix

Following are the dimensions of corporate mix

•Identity of the corporate.

•The way of communication, the delivery and pitch.

•Customers and organization stakeholders should be satisfied and must possess full confidence.

•Perceived Identity: The image of the brand,

•The worth and the overall image of the corporatist outsiders have.

•Shared values and code of ethics and culture that prevails in the organization.

•The pest/el environment and the relations of the headquarters ...