In this paper, I am going to check out all those features that are related to the adaptation of strategic management about have a hold over the market. The process is to have proficiency systematically in the competitive marketplace. The target of this paper is to discover the consistent approach in the field of offering the product or service to get outsells the critical competition. The process needs a proper and very much well-defined methodology to implement. The roles played by the resources and the expertise to implement these strategies are considered as an integral part of the whole system.
Identification and assessment
To evaluate the marketing strategy of a product or a service certain aspects need to be well determined. These aspects are all related to the predominant ‘generic’ strategies. The added strategies are all related to advertising, distribution, pricing, promotion, and market segmentation. All kinds of matter related to market share, demographic changes, profit margins, market penetration, capital investment, budgets, financial analysis, government actions, emerging technologies and all sorts of cultural trends are need to be well scrutinized. According to Kotler P. and Armstrong G (2006), all these aspects are an integral part of any evaluation related to the marketing strategy. Two specific components need proper speculations. These are the process to enterprise in addressing the competitive marketplace and to implement and support that gets organized in day-to-day operations.
Market research activity in shaping marketing strategy
There is the need to make research on whether the market is very attractive or just has a random demand. As the enterprise is considered as one of the best in the market there has to be liquidity in the process of investment of the best resources in support of the product or the service. However, if the market has got enough attractiveness but the enterprise is unable to meet the criteria then, it is very important to concentrate on the process of strengthening the enterprise.
Offerings of the products and the services must be considered as a step forwards towards the objective. There are possibilities that the market is not very specifically attractive, but the business enterprise is a strong contender in the market. In such phases, there is the need for an effective marketing and sales effort that can offer and generate term profits. In a situation where the market is not attractive and the enterprise is also unable to perform. Then the strategy should concentrate on promoting the offerings. This is also suggested that for a more profitable part. Or else, one needs to be determined enough to have the most cost-effective way and thereby divest the enterprise.
Effectiveness of the marketing functions
To have an access to the effectiveness of the marketing functions, it is here that the need to monitor the customer’s business and all the related measures needed for the costs of trying out the perspective offered. The materialization is dependent on the proceedings and the responses made by the customers. It is dependable over the act of realization of the customer about the return that has been invested. It is very dynamic to get hold of the disruptive factors that can act as the introductory matter to the offering during customer’s operations and the costs that are to be determined. Comprehensive speculation of the complexities of the offering needs to be measured well.
This measurement gets done measured by the existence of requirement for support devices, the difficulty of installation, standard interfaces, number of options, training and technical support, and the requirement for the specified complementary product interface
Structure, Culture, and Management
In case of analyzing the structure, culture, and management of a product or a service, it is very appropriate to get thoroughly familiar with the factors that are going to determine the condition and position of the offering in the market. This is a research of a very wider range. The idea is to compete with all the contenders of the same kinds of products and services. The factors that need to be considered include the investigation over the proprietary to the enterprise.
It is important to check out whether some or all of the technology for the offering is having it. It is thus very important to get the structure so that the benefits can be well synchronized as per the prospect that gets derived from the use of the offering. An analytical inspection over the extent to which the offering can be differentiated from other contenders has to be very specific.
There is also a specific demarcation to be made for the purpose to reveal common introduction problems. These need to be well avoided. Some of these specific points are related to a lack of adherence to industry standards and the unavailability of materials. Some added grievances can be poor quality control, regulatory problems, and above all the inability to explain the benefits. The potentiality of the product or the service must be kept carefully and safe from the enterprise’s commitment to product development.
It is equally important to have the absolute product’s proximity to all kinds of physical limitations. There is the structural negotiation to be done for the ongoing potential for the product or the service improvements. This is a kind of ability of the enterprise to react to technological change and for the likelihood of substitute solutions to the prospect’s needs.
Conclusions
Keeping all these scrutinizations under considering the matter gets all concerned about having a better scenario in the market for the offering. It is thus possible when all kinds of important research and methodological surveys are done. The system of structuring the formation is very necessary and this is the reason that there has to be proper research done before making any application over the enterprise. The market depends totally on the strategical planning of having a better condition for the supply of the product or service and it can be met only if there is a kind of proper negotiation that remains in the format of every deal that is to be done.
References
Kotler P. and Armstrong G (2006) Principles of Marketing, 11th edition, Pearson Prentice Hall.
Wood, J., Wallace, J. and Zeffane, R.M. (2004) organizational Behaviour: A Global Perspective (3rd Ed) Brisbane: John Wiley and Sons.