In recent years, the business world has become rapidly integrated across once restricting borders, and anyone with high goals in the business world must have an international perspective and be aware of the realities of different international arenas.
Marketing Strategy and Mission Statement Planning is an important component of every business. The situational analysis helps the business determine its existing resources, strengths, and capabilities compared to those of its customers.
The situational review also helps the company form its mission, vision, goals, objectives, and strategies in a number of key areas of operations. One of the key areas that the situational review assists in is in designing customer oriented marketing strategies that will help the business to achieve its marketing objectives.
A marketing strategy is therefore an important component of the overall business strategy because it helps the business to gain a competitive advantage by differentiating its products and aligning the marketing activities to the mission of the organization.
The marketing plan is a document that outlines how the business will implement, evaluate, and control its marketing efforts. The marketing plan serves a number of functions. Therefore, the plan serves as a roadmap to help the managers to implement their marketing strategies.
Secondly, the marketing plan outlines the tasks involved in design the marketing strategy as well as the resources to be assigned to each of the tasks. The marketing plan also gives the timing of all the marketing activities Schnaars, According to Schnaarsthe main focus of marketing strategies is manipulate the variables of the marketing mix, that is, the product, price, a place, and the promotion strategies so as to achieve the objectives of the organization.
There are four steps in setting the marketing strategies: Defining the business involves setting the vision of the business.
The vision outline the broad goals that the company would like to achieve in future. Secondly, the process of setting the mission tries to define why the business exists and how it will meet the needs of its target market in order to meet its long-term objectives Schnaars, Thirdly, developing functional plans is involved with outlining the tasks that will help the business in achieving its objectives.
Finally, budgeting is concerned with the resources that the marketing department will have to implement the marketing plan.
A good strategy must outline the marketing mix objectives that it wants to achieve. The four elements of a marketing mix are the product, price, a place, and the promotion strategies.
Firstly, product strategy is involves deciding the product or services that the business will offer to the customers and the need that this will satisfy.
For restaurants, the marketing mix will involve determining the menu mix that the business will offer to its clients. The product mix should also take into considerations like the customer service and quality to satisfy all the needs of the clients Percy, Secondly, the place involves determining how the customers will access the business so as to consumer its services.
The business must locate the business in a convenient place so the customers can access the restaurant easily.
The managers must also look at the location of similar business in order to come up with a good location for the business David, Thirdly, the price is concerned with the price that the customers must pay to acquire the service.Policy Goals and Objectives Essay Evaluate marketing strategies the business could use to achieve its business objectives When devising a marketing strategy, it is important that a business has a clear understanding of the target market.
More about Goals and Objectives in Business Essay. Strategic Business Objectives of Organizations. A Sample Essay On The Marketing Strategy and Mission Statement Of A Restaurant.
How it works? Prices; Place Order and capabilities compared to those of its customers. The situational review also helps the company form its mission, vision, goals, objectives, and strategies in a number of key areas of operations. the main focus of.
This article is written by Greg Costikyan. The opinions expressed are his alone, and no other person or organization should be deemed in any way responsible for their expression here.
Remember: This is a mission statement, not a mission essay. Try to sum up your entire company's mission in one or two sentences.
Think of it this way: Your mission statement, at its absolute best. What are the main goals of the company? The main goal of this company is to sell the product in the lower price and gain the low profit with the high volume of sales from the consumers in each branch.
Goals in Life - My whole life I have always wanted to become a successful engineer, and graduate from the University of Cincinnati.
Some of my goals in life are to go to the University of Cincinnati.