LAPNITEN SIXTO JR. 20160047 DB703STRATEGIC MARKETING MANAGEMENT
Individual Assessment On Hellers
1. Critically analyze the principles of strategic management using Hellers the organization in the case study provided. Market Penetration provides a firm with information necessary to understand its position in the market. A company 's market share is frequently used as a performance measure. It assists marketing managers to focus efforts that help a firm to grow its market share or to maintain its market dominance (Cross, 2016)
Market penetration was carried out by Hellers to further increase the success of their products in the market. Hellers choose to increase market penetration using penetration strategies such as greater promotional
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Strategic management tools allow businesses to avoid potential problems in the market and take advantage of predictable opportunities. Strategic management planning is often done with analytical tools. (Scilly, 2016)
There are many kinds of tools that are available for an organization to use in strategic marketing management. This tools help the company such as Hellers to achieve their business goals and navigate their business for best result. This models have distinct purpose that result in significant good marketing when it is conducted properly. The following tools are used by Hellers in their strategic marketing
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The forces are existing competition between suppliers, threat of new entrants to the market, the bargaining power of buyers, the power of suppliers, and the threat of competitive products or services. This clearly seen as mentioned from the case that their partner Simpatico “run a number of affinity research groups, focusing on the behavior of its consumer.” With the used of this tool this result showed Hellers that the perception force of the buyer is important for the organization as basis for the strategies in marketing. Porter’s Five forces tool will give a total understanding of how their brands are shaping the industry that they are trading with. Another importance is aside from the consumer, suppliers also consider to ensure that they be able to sustain their targets of producing 350 tons of sausages in 80 different varieties a week with bacon, ham and other services.
Ansoff matrix This model is essential for strategic marketing planning where it can be applied to look at opportunities to grow revenue for a business through developing new products and services or "tapping into" new markets. It is used to evaluate opportunities for companies to increase their sales through showing alternative combinations for new markets against products and services. Where the matrix suggests four alternative marketing strategies (Hanlon,
Nevertheless, it must “defend” its current market share if not increase it, by maintaining premium quality and develop innovative products. The marketing mix strategies will effectively achieve targeted revenue and profitability in the near future.
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6 framework I and many others regularly use in analysis of marketing situations. We supplemented
Mason Carpenter, G. S. (2013). Strategic Management: Concepts and Cases Second Edition. Harlow: South-Western Pub.
Strategic management is the set of managerial decision and action that determines the long-run performance of a corporation. It includes environmental scanning (both external and internal), strategy formulation (strategic or long range planning), strategy implementation, and evaluation and control (Hunger & Wheelen, 2011). In this report I will do research about the strategy of Marriott International, Inc. I will give advise on how Marriott can improve their strategy and I will come up with an advisory strategy.
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In today’s world, advances in technology have led to the development of materials, tools, techniques, and other means that make life easier, more efficient, and more productive. Businesses in the private sector as well as the governmental organization use those models, devices, and technologies for marketing purposes to help with marketing analysis, market entrance, data tracking for decision making, productivity, ability to serve their members or partners better by supplying quality products and virtual service to promote brand lifting, customer feedback, great customer experience, and offering the right product to the targeted market. Porter's Five Forces Model is one of the frameworks that help businesses develop their market strategy and analysis. This paper will focus on the Porter Model to evaluate a prospective market entrance for a potential movie rental business. Therefore, the five criteria for the model--Buyer Power, Supplier Power, Threat of Substitution, Competitive Rivalry, Threat of New Entry, and the movie rental industry will be scrutinize.
On the Ansoff matrix below is shown what growth strategies for new and existing products and markets can be used from the company.
Pearce, J. A., & Robinson, R. B. (2013). Strategic management: planning for domestic & global competition (13th ed.). New York: McGraw-Hill/Irwin.
Witcher, B., and Chau, S. V., 2010. Strategic Management: Principles and Practice. Cengage Learning EMEA.
This essay will look at strategic management processes and how they can be used to improve organisational performance; it will also describe how strategic management processes have the ability to lower organisational performance.
The main topic for this Extended Essay is to analyze the effectiveness of company’s market strategy. A marketing strategy can be defined as a process that helps a business to optimize the opportunities in order to complete business objectives, which mainly gain profits. It includes all basic and long-term field activities of marketing that deal with the analyzing of initial strategy, evaluation of the strategy, and making of a new strategy if the initial strategy is found to be ineffective or even might cause loss. (Homburg, Kuester and Krohmer 2009) To make sure the effectiveness of marketing strategy, its crucial to establish the right marketing mix which cover all the element needed in marketing a product. (Clark, et al. 2009)
There are many elements affecting to the success of a launching. The basic factor is to develop product that satisfies consumers’ demands and maintain the brand promise. However, consumers are not only looking for the quality of product but also concerning about the price, the promotion and so on.