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Strategy and Marketing Essay Example

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Strategy and Marketing

Walker & Mullins (2011) identifies that market success requires examination of external trends that impact the industry long-term. Ineffective market research, either qualitative or quantitative, as well as a poorly-developed promotional strategy could greatly undercut profitability as compared to more efficient competitors at these activities.Automobile manufacturer sales volumes are strongly influenced by consumer demand and also short-term economic conditions in key target markets in their desired segments. Morningstar (2012) identifies rather poor mid- to long-term performance at Nissan, but rather high performance at General Motors. Both of these companies offer mid-sized to larger-sized vehicles and operate in generally the same socio-economic market segments. Walker & Mullins (2011) identifies the importance of positioning, which is establishing a product that will emphasize consumer needs and help to differentiate the brand from other competition. General Motors conducts considerable market research on consumer attitudes, behaviors and needs which assists this business in gaining more customers. Psychographics is only one method of establishing connections with buyers. Nissan, on the other hand, might have less developed promotional and advertising strategies that do not stand out from competition. While GM would be positioned as a lifestyle-relevant product line, Nissan might be ineffective at successfully differentiating the product. Though this is only one factor, it does indicate why some companies perform better financially than others due to the importance of successful marketing strategy implementation and control.The automotive industry is also reliant on consumers that conduct a great deal of searches and considerations for these high dollar product purchases (Boone & Kurtz, 2007). It is highly involved, often deal with many test drives, Internet research, and considerations stemming from peer reference groups about price and quality before making a purchase. Companies in this industry that are more market-focused will try to develop more effective sales teams or produce better interactive websites (as only two examples) that continue to bring better performance through marketing strategy long-term. Marketing recognizes the importance of considering all elements of the marketing mix, and

References

Boone, L. & Kurtz, D. (2006). Contemporary Marketing (12th ed.). Thompson South-Western.

Boone, L. & Kurtz, D. (2007). Contemporary Marketing (13th ed.). Thompson South-Western.

Huffington Post. (2012). Abercrombie & Fitch Closing 180 Stores by 2015. Retrieved

September 6, 2012 from http://www.huffingtonpost.com/2012/02/15/abercrombie-closing-stores-2012_n_1280199.html

Live Journal. (2011). Abercrombie & Fitch Look Policy Looks Down on Hijab, ONTD.

Retrieved September 7, 2012 from http://ohnotheydidnt.livejournal.com/60603352.html

Morningstar. (2012). Industry Performance, Retrieved September 7, 2012 from

http://news.morningstar.com/stockReturns/CapWtdIndustryReturns.html

Walker, Orville C. & Mullins, John W. (2011). Marketing Strategy: A Decision-Focused

Approach (7th ed.) McGraw-Hill.

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