| What role does marketing play in the overall strategic planning process? In your post, discuss a company that you think has mastered the marketing process and also mention a company that you think needs much improvement in marketing products or services. How do you think that social media has changed marketing concepts over the past five years for these companies? ANSWER Every business organization (successful businesses for that matter) depends on the marketing strategies and plans it seeks to implement. Strategic marketing defines the manner in which an organization wishes to stand out from the rest by utilizing both its existing and potential strengths. Marketing help investors execute a marketing philosophy, guide production and operations, and help identify and analyze trends in the marketing environment. These activities play a critical role in strategic decision-making (Mullins, Walker, Boyd & Larréché, 2013). The main role of marketing, therefore, is to ensure that an organization is able to respond to three most important questions, which are how to fix the price, which product to invest in, the place as well as the promotion strategies. By doing so, the organization will be in a position to come up with products that adhere to the needs of the customers and hence increase sales. It is also the best way of undertaking price discrimination strategies in order to meet the economic levels of different markets. One of the companies that I believe has mastered aspects of marketing process is Walmart owing to its systematic expansion strategy and production process that has expanded its international platform. The organization provides a wide range of products especially those that customers need. The organization embraces the use of the 4Ps as a way of expanding its marketing strategies. Gillette, on the other hand, is an organization that needs to improve on the marketing strategies owing to the many complaints regarding their failed responses when customers complain (Vertakova, Rudakova, Shadrina, Kobersy & Belova, 2016). The products have also received little rebranding to meet customer’s needs. Social media has changed the way in which marketing is undertaken especially in the last five years. First and foremost, it has now become easy for one to receive opinions regarding the type of products being offered through Facebook. The use of social media has also made it possible to engage customers in a cost effective manner. Furthermore, it makes it easy in creating brand and market awareness… |
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