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Strategic Marketing and Business Performance Essay Example

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Strategic Marketing and Business Performance

Strategic Marketing and Business Performance. Phenomenon projections are often considered in customer approach process. As businesses struggle to enhance competitive advantage, a variety of methodologies is deployed to lure customers. Companies endeavor to popularize their brands by targeting specific product for its customers (Singh 466). According to Merlo, marketing describes a system of communication by which manufacturers reach clients with the aim of selling their products (Merlo 1152). The tool is crucial in increasing market share while outsmarting competitors. Challenges arise during the process in which product promoters select the best marketing strategy. For instance, an inadequate survey of the pertinent customer tastes and preferences leads to the design of commodities that do not meet the needs of the consumers.

Furthermore, poor design of advertisements generates unimpressive physical appearance hence fails to attract the customers.
Poor advertisement and lack of an understanding of customer tastes and preferences lead to a decline in business performance. The effects of weak business performance influence negatively on the intrinsic properties of the firm. As Singh asserts, the trend discourages customers from buying products hence reducing the traffic (Singh 464). Critically, Singh's notion points at the mistakes business make. The business will lose customer loyalty that will equally discourage new and potential customers. Moreover, the author discusses other possible effects such as the reduced volume of output, falling reputation, loss of employment to workers, and low returns. Therefore, marketing serves two purposes in business management. The tool can be applied to maintain a current popularity of a particular product, or else to revive lost reputation.
Similarly, if a business fails to choose a target market or, more commonly, fails to choose the appropriate target market, the consequences amount to reduced performance. Defining a particular target market is always an integral part of business performance and growth. Strategic Marketing and Business Performance.

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preview essay on Strategic Marketing and Business Performance
  • Pages: 5 (1250 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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