Friday, December 6, 2019

Market and Brand Orientation-Free-Samples-Myassignmenthelp.com

Questions: 1.Identify the Concept of Corporate objectives and evaluate an Organisation with information available in the public domain. 2.Discuss Marketing Orientation Concept 3.What is your Organisation's core Marketing Strategy? Discuss thestrengths and weaknesses of the current Marketing Strategy and explain how this strategy will help your Organisation reach its corporate objectives. Answers: 1.There are many different objectives of the company at different levels such as corporate, functional, strategic etc. The corporate objectives are the objectives that deal with realistic goals of the company that are strategic in nature. These objectives affect the overall decisions of the organization at different levels because there are the ultimate gaols that the company wants to achieve. This can be better understood by discussing the objectives of a company called Woolworths. Woolworth is the company that has the ultimate or the corporate objective of becoming the priority company for the customers (Blount Nunley, 2015). To achieve this goal, the company has some priorities to attain such as generating the sustainable sales momentum, improving the drink business, becoming lean retailer, improving the business processes so as to provide more convenience to the customers. This is because of the company has to become the 1st priority of the customers then it has to strategize it s processes of customer service at first. These objectives of the company support the firm to attain its ultimate or the corporate goal. 2.In order to serve the customers and attract them to buy the products, it is necessary to implement some of the marketing concept. These concepts are known as marketing orientation concept. There are 5 basic concepts of marketing orientation. Production concept: This is the first marketing concept that deals with low cost production of the company. As per this concept, the consumers believe in buying the products that are easily available and affordable. Products concept: according to this concept, the consumers buy the products as per the quality and the performance of the product (Urde, Baumgarth Merrilees, 2013) Selling concept: The Company that believes in this concept tries to sell what they produce irrespective of the market demands. Marketing concept: This is one of the most effective concepts which suggest that the company needs to maker and make the people aware about the products they want to sell. Societal marketing concept: this is the modification of marketing concept. This concept believes that marketing is done in such a way that brings value to the customers as well as the society. Woolworths is the company that follows the concept of societal marketing. This is because the company has to become the first priority of the customers and it believes in serving the customers with ethics (Ferrell, Gonzalez-Padron, Hult Maignan, 2010). The company claims that customers value is their value and they believe in the strategies that enhances the value of the customers. 3.As far as the marketing strategy of the company is considered, Woolworth believes in keeping the customers first in all its strategies. The core market strategy of the company is offer, growth and efficiency. This 3 year strategy of the company is used to market the products in such a way that helps the company to attract more and more customers along with increasing value. The company is focusing on offers and loyalty system to be implemented so that it can better compete with the companies like Coles and Aldi that are giving tough competition to the firm (Racela, Chaikittisilpa Thoumrungroje, 2007). As the company wants to be the 1st priority of the customers so keeping the customers first in everything they do is a good option. Strength of the strategy: The strength of the strategy is that it provides the value to the customers and also the products at low prices so that everyone can afford to buy the products from Woolworths. Keeping the customers at the preference is also strength of the company to connect with the customers. Weakness: The weakness of the strategy is that this strategy is not considering the fluctuations in the market and the choices of the people that are dynamic in nature. References: Blount, J., Nunley, P. (2015). Social Enterprise, Corporate Objectives, and the Corporate Governance Narrative.Am. Bus. LJ,52, 201-789. Ferrell, O. C., Gonzalez-Padron, T. L., Hult, G. T. M., Maignan, I. (2010). From market orientation to stakeholder orientation.Journal of Public Policy Marketing,29(1), 93-96. Racela, O. C., Chaikittisilpa, C., Thoumrungroje, A. (2007). Market orientation, international business relationships and perceived export performance.International Marketing Review,24(2), 144-163. Urde, M., Baumgarth, C., Merrilees, B. (2013). Brand orientation and market orientationFrom alternatives to synergy.Journal of Business Research,66(1), 13-20.

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