1St Assignment Strategic Marketing

Date: 5th October, 2021

Deadline: 9th October, 2021

Faculty: Pervez Ghazi

Name of Student_______________________

Q1. You are holding a top position in a well recognized marketing organization. The CEO has asked you
to present to the board of Directors the company’s market driven strategies. What will you include in
your presentation?

Answer:
A market-oriented strategy is a new concept in which customer trends are tracked for future planning - all business
organizations strive to understand customer trends before bringing products to market. All planning comes from
senior management experts who, after analyzing situations, imply strategy. Strategies are planned in such a way that
you have the opportunity to adapt them later as needed. Between all departments, the marketing department works in
coordination with all other departments, from product planning to product maturity in the market. There are several
steps in the market-oriented strategy that are implemented accordingly. The best marketers need to optimize things
with a central set of goals.

Q2. Discuss market targeting and strategic positioning and its importance to an organization.

Answer
The marketplace focused on choice identifies the humans or businesses in a product-marketplace towards which an
company directs its positioning approach. Selecting proper marketplace objectives is one in all management’s
maximum stressful challenges. For example, need to the company try and serve all of the folks who are inclined and
capin a position to shop for a selected proper or carrier or, instead, selectively consciousness on one or extra
subgroups? Study of the product-marketplace, its customers, the company’s abilities and resources, and the shape of
opposition are essential with the intention to make this choice.

Targeting and positioning techniques consist of

(I) figuring out and studying the segments in a product-marketplace.

(II) identifying which segment(s) to target.

(III) designing and enforcing a positioning approach for every target. Many corporations use a few shape of
marketplace segmentation.

for the reason that customers have come to be an increasing number of differentiated in regard to their wishes and
wants. Micro-segmentation (finer segmentation) is turning into popular; aided via way of means of powerful
segmentation and focused on techniques inclusive of database advertising and mass customization. The Internet
gives an possibility for direct get admission to to character customers.STP marketing stands for segmentation,
targeting, and positioning. It is a three-step process that allows for the development of a specific
and actionable marketing strategy.

The main principle behind the process is to segment your audience, target each segmented group
according to their preferences and habits, and make positioning adjustments in your branding and
marketing strategies to accommodate their needs and expectations.

The reason why the segmentation-targeting-positioning process is so effective is that it breaks

down broader markets into smaller parts, making it easier to develop specific approaches for
reaching and engaging potential customers instead of having to use a generic marketing strategy
that would not be as appealing, or as effective.

Q3. What are the challenges for strategic marketing in fast changing market conditions , globalization,
technology and Artificial Intelligence?

Answer:
Challenges For Strategic Marketing

 Demonstrating marketing's value.

 Lack of fundamental marketing knowledge.
 Understanding customer behaviour.
 Making digital strategic.
 Creating growth on a budget.
Globalization:
Along with arguments assisting the advantages of a extra globally linked economy, critics query the ethics and long-
time period feasibility of earnings captured thru worldwide growth. Some argue that the growth of worldwide
alternate creates unfair exchanges among large and smaller economies. They argue that MNCs and industrialized
economies seize notably extra fee due to the fact they've extra monetary leverage and might dictate tremendous
phrases of exchange, which turn out to be victimizing growing nations. Critics additionally boost worries
approximately harm to the environment, reduced meals safety, unethical exertions practices in sweatshops, elevated
consumerism, and the weakening of conventional cultural values.
Technology:

Many organizations and marketing professionals are struggling with the ever-changing needs of marketing and
branding themselves. With technology continually advancing, the need for talented individuals in the technological
marketing sector is becoming more in demand. As technology is at the forefront of the marketing world, it is getting
increasingly more necessary to leap into the digital marketing world. However, with a lack of talent and
organizational complacency, it is hard to change the mindset of those who need to change from traditional marketing
avenues to more advanced digital avenues.Even with a desire to focus on digital marketing, it is necessary to find the
right person who can help with the integration and the velocity of the marketing needs. Organizations are going
to face these challenges continuously, and it is time to solve them so that they can move forward in the
revolutionized way of business.

Q4. Discuss in detail the components of Corporate Strategy.

A corporate plan typically consists of the same elements as a strategic plan:

 An executive summary.
An executive summary (or management summary) is a short document or section of a document produced for
business purposes. It usually contains a brief statement of the problem or proposal covered in the major
document(s), background information, concise analysis and main conclusions.

 A company description.
A company description (sometimes referred to as an “about me” or “bio” section) is defined as a general overview
of your company as well as who you are as a business owner. Anyone who reads your company description should
get a clear idea of what your business does as well as the hole you're working to fill.

 Mission, vision and value statements.

The mission statement communicates the purpose of the organization. The vision statement provides
insight into what the company hopes to achieve or become in the future. The values statement reflects the
organization's core principles and ethics.
 Strategic analysis of the internal and external environment.

Strategic analysis refers to the process of conducting research on a company and its operating environment to
formulate a strategy. The definition of strategic analysis may differ from an academic or business perspective, but
the process involves several common factors:

1. Identifying and evaluating data relevant to the company’s strategy

2. Defining the internal and external environments to be analyzed
3. Using several analytic methods such as Porter’s five forces analysis, SWOT analysis, and value
chain analysis

 SWOT analysis (SWOT is an acronym for strengths, weaknesses, opportunities and threats)
SWOT Analysis is an acronym for Strengths, Weaknesses, Opportunities and Threats. This is a powerful strategic
management and planning tool. It is a superb masterpiece which every organization needs to get through to greater
heights of success.