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Enhancing the Marketing Plan Essay Example

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Enhancing the Marketing Plan

The main competitors of Globaleotechno are: Swiss Army watches, Tag Heuer and Rolex. These three brands have their own strengths and weaknesses which Globaleotechno will take into consideration before making a decision about their marketing and positioning.Joint ventures of some of the major watch brands for example: Rolex and Breitling are proposing to work together which would work to enhance the competition in the watch industry (World Watch Report, 2011).Globaleotechno has the opportunity to cash the weaknesses of the major competitors. It plans to position itself as a brand that provides the quality watches at affordable prices. Additionally as the brand loyalty is not high; Globaleotechno is in the position to alter the consumer’s choice of purchase.A differentiation strategy is basically a company’s aim to manufacture position and market its products as different and unique from the competitors (Moore and Pareek, 2010). A differentiation strategy of a company is usually followed only when a company has certain sustainable competitive advantages that set it at par from its competition (Kerin, Hartley & Rudelius, 2010). The competitive advantages of Globaleotechno are enlisted below which it plan to cash through extensive marketing and differentiation strategy.Globaleotechno plans to enter the market of United Kingdom before their competitors respond with a price reduction to prevent them from entering. The Globaleotechno plans to be a leader in the watch industry at providing the best quality watches at an affordable price which will help to discourage the firms after it from entering and also work to alter the loyalties or preferences of the customers.The rationale behind opting to be a leader in low priced watches was also to counteract the global economic downturn. As the purchasing power of the people has been greatly reduced, it became necessary to come up with a brand that is affordable which can also offset the high prices of the competitors.There are many factors which influence an organization’s strategies and decision making but they are not controllable by the organization. Such external and uncontrollable factors work together to make up the macro environment of any organization (French, Rayner, Rees and Rumbles, 2011). These factors include but are not limited to; legal, economic, social, political and technical aspects of the organizations (Pettinger, 2010).The fact that consumers

References

French, R., Rayner, C., Rees, G., Rumbles, S., (2011) Organizational Behavior, John Wiley and

Sons.

Kerin, R., Hartley, S., and Rudelius, W. (2010), Marketing: The Core, McGraw-Hill Companies

Inc

Moore, K & Pareek, N, (2010), Marketing- The Basics, New York: Taylor & Francis

Pettinger, R., (2010), Organizational Behavior: Performance Management in Practice, Tayler

and Francis

World Watch Report, (2011), Europa Star, Media Partner

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preview essay on Enhancing the Marketing Plan
  • Pages: 4 (1000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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