Free Sample: Strategic marketing  management paper example for writing essay

Strategic marketing management - Essay Example

The top level is corporate level to oversee and take responsibilities for the entire company. At the middle level, the three separate strategic business units (SSW) were formed to undertake separate product lines and services; one SUB Is Alpha Manufacturing unit for food and beverages products, and another two for Alpha Hotel Service Unit and Alpha Tourism unit. Vision To provide memorable experiences to all the customers in every aspect of their stay In the hotel.

To build a workforce of highly skilled, innovative and disciplined Individuals who will operate as one to enhance the efficiency of the hotel Industry In its efforts to achieve the goals of Vision 2020 and beyond. Mission To attract visitors from around the globe and various markets, including the leisure, corporate and wholesaler markets, Individual and group travel. The hotel welcomes them to our country, host them In style, provide to their needs and encourage them to return.

To be 5 stars hotel in through Manner within areas To open expand our market around the Manner in which famous landmarks are located In 10 years. Future management objectives of Alpha hotel Provide trainings and make hotel as a learning environment Reduce turnover rate to 2% To get 4% market share The values and objectives of Alpha don’t with each other. Values are set for standard of the hotel to get to the objectives. 1. 1 Role on Marketing in an organization Strategic marketing describes marketing stateless that affect corporate, business, and marketing strategic plans.

Strategic marketing activities can be classified into three basic functions. First, marketers help orient everyone in the organization toward markets and customers. Thus, they are responsible for helping organizations execute a marketing philosophy throughout the strategic planning process. Second, marketers help gather and analyze Information required to examine the current tuition, identify trends in the marketing environment, and assess the potential impact of these trends.

This information and analysis provides input for corporate, business, and marketing strategic plans. Third, marketers are involved In the development of corporate, business, and marketing strategic plans. Marketing’s influence varies across organizations. For organizations driven by a marketing philosophy, marketing necessarily plays a key role in strategic decision making. The is increasing marketing clout in an organization’s strategic planning process. Chapter 3) Figure (1) Role of marketing in strategic planning 1. The process involved in strategic marketing 1) Marketing Role in Strategy Development 2) Market Opportunity Analysis 3) Formulating Strategic marketing Program 4) Implementation and Control of Marketing Program Marketing’s Role in Strategy Development Corporate Strategy reflects the company’s mission, provides directions for decisions about what business it should pursue, how it should allocate its available resources, and its growth policies Samsung heavy investment in R, consumer research, and reduce design to develop a new generation of technically superior, attractively designed digital electronics Business Level (Competitive Strategy) addresses how the business intends to compete in industry Samsung offers cutting-edge technology, innovative design, and superior customer value Marketing strategy reflects interrelated decisions about market segments, product lines, advertising appeals and media, prices, partnership with suppliers, distributors, retailers, and other agencies In smaller companies or start-ups with only a single product line, business level nominative strategy and marketing strategy substantially overlap Marketing manager’s Job is to monitor and analyze customers’ needs and wants and the emerging opportunities and threats posed by competitors and trends in the external environment Marketers often play a major role in providing inputs to- and influencing the development of – corporate and business strategies Marketing manager has primary responsibility for formulating and implementing strategic marketing plans for individual product-market entries or product lines. Market Opportunity Analysis Environmental Analysis

Customer Analysis Marketing Research and Forecasting STEP Formulating Strategic marketing Program Specifying Marketing Objectives (Sales Volume, Market Share, Profitability) Marketing Strategies Marketing Program/Marketing Mix (ops) Implementation and Control of Marketing Program Managers must design a strategy to fit the company’s existing resources, competencies, and procedures – or try to construct new structures and systems to fit corporate strategy Corporate strategy involves working in an industry and striving to make more money, usually by retaining customers and gaining new customers from mediators. To gain customers from competitors, business needs to seem as though they have better quality and higher value.

This is where marketing strategy comes in, using research in consumer behavior to identify needs and produce messages that tell consumers how the business’s product is better than competitors. A corporate vision represents the basic values of an organization. The vision specifies what the organization stands for, where it plans to go, and how it plans to get there. Corporate-level strategies address the entire strategic scope of the enterprise. This is he “big picture” view of the organization and may include deciding in which product or service markets to compete and the geographic boundaries of the organizations’ operations. For multi-divisional organizations or enterprises, how capital, staffing, and other resources are allocated is usually established at the corporate level.

Additionally, because market definition is usually the domain of corporate-level strategy, the responsibility for diversification, or the addition of new products or services to the existing offerings, also mostly comes within the responsibility of corporate-level strategy. Also, whether to compete head on with other companies or to selectively establish cooperative partnering arrangements, or ‘strategic alliances’ is a decision for corporate-level strategy, while requiring ongoing input from business unit or divisional level managers. (http://www. Oho. Com/info_8139467_corporate- strategy- marketing-strategy. HTML l#acclimatizing) (http://www. Imply-strategic- planning. Com/corporate-level-strategy. HTML) Task -2 2. 1 BCC matrix for Alpha Hotel Question marks Cash cows Dogs The Alpha Hotel is now in the cash cow position and hotel wants to be in question ark position. The hotel needs to use strategies from question mark to improve the position in the market. Strategies for Question mark are: 1 . Market Development 2. Market Penetration 3. Product Development 4. Forward Integration 5. Backward Integration 6. Horizontal Integration 7. Concentric Diversification The Alpha Hotel will use the Market Development because now the group of customer the hotel having is mostly local businessmen.

In Manner there are many beautiful and famous places like for example Began, Mandalay; etc. The Alpha Hotel will also build new hotels in those famous places. The Hotel will also cooperate with travel tours to expand our market and get mote international customers. Another one concentric diversification the hotel will open Spa in the hotel to fulfill the needs of the customer and also transportation service. SOOT analysts Strength Diverse range of service skills within management and staff. Strong, participative culture. Specialized and experienced staff that is motivated and highly skilled. As the hotel trained team who are proud of their hotel and respect and promote the brand values.

Strong reputation within the local market and corporate and travel trade arrests for reliability, exemplary service and quality. Weakness Differentiation strategy needs to be more clearly communicated externally, within local and international markets. Turnover requires ongoing training and orientation equipment, such as high speed Internet access and laptop links. Opportunity Dynamic growth in emerging markets – improving economic conditions, developing infrastructures, the development of the urban middle class and growing foreign tourism are driving strong growth in. Unique travel experiences – the shift in consumer demand towards a unique traveling experience is creating opportunities or hotel operators to develop distinctive brands, properties and services.

Technology revolution – the adoption of new technologies and the continued focus on global branding is creating a larger commitment to the internet, with hotels and other travel accommodation continuously enhancing online activities to minimize costs and better serve consumers. Green appeal – recent studies have revealed that tourists are increasingly worried about business, social and environmental responsibility. Therefore, the adoption of Green Buildings does make a difference. Hotels as travel accommodation which are able to maintain operational costs (energy, water) to a lower level and enhance services through the offer of healthier work environments and more comfort to tourists are likely to strengthen their competitive advantage in the near future.

Health and wellness appeal – as a premium hospitality provider, Solemnity Hotels is well-positioned to benefit from the increased demand for health and wellness services Threats The individuation of consumer choice – increased demand for unique lodging experiences is driving a trend towards independent hotels, thus presenting a threat o major hotel like Solemnity. Downturn in business travel – is heavily confident on business travelers, meaning that the negative impact of an impairment of economic conditions in business coupled with the ongoing pressure to push costs down. 2. 2 Link between strategic positioning and marketing tactics “Positioning is arranging for a product to occupy a clear, distinctive and desirable price relative to competing products in the minds of target consumers” (Kettle & Armstrong 2010).

It is important to have knowledge of where direct competitors are standing at which point, what are heir strength and weakness and finally the most essential point is to understand how product is positioned in the minds of the target consumers. Determining the strategic positioning of your business is a key step in developing its go-to-market strategy and placing it on the path to success. Strategic positioning involves clear choices that you will have to make for your business. Strategic choices determine the competitiveness model that your company decides to follow. There are three models of competitiveness: 1 . Cost leadership: Companies draw competitive advantage from lower cost position Han competitors.

This model nearly always requires scale leadership in a properly defined market 2. Differentiation: Companies have brand, product or service differentiation. In this model, companies do not have to be scale leaders e. G. Followers can create leadership in a niche segment 3. Industry Influence: Companies capture disproportionate returns across the value chain based on ownership of scarce asset or exclusive customer relationships where switching costs are high Companies in this model are often scale leaders 4. 1 Impact of changes in the external environment on a marketing strategy In an organization there are several factors influence the growth and performance of the organization.

There are some factors which influence the organization can be controlled by the management. But some factors are beyond the organization management control. The factors which are controlled by the organization are known as internal factors. The factors which are beyond the management control known as external factors such as Political, Economical, Social and Technical (PEST) factors. Political Factors Political stability is the key to the success of any industries and it is applicable to toll industry as the well and it needs to cope with political situations everywhere in the world. The political approaches can influence the number visitors, both, tourists and business travelers’ visits to a nation.

It may a concern for many people those who are visiting Manner because of the ongoing very delicate political situation Economic Factors National macroeconomic situation and factors and events impacting the situation are major factors affecting hotel business. As the country economic is become open, Foreign countries have interest to invest in hotel industry in Manner. They expect to only 4 stars and above but also skillful employees. Another problem is higher competitive between one another according to a decision Solemnity can be all or nothing. Social Factors The Solemnity hotel is very the well known amongst international visitors and one of the popular destinations for the tourists and shopping lovers.

A wide range of social factors impacting include emerging trends in consumer lifestyle, consumer demographic variables, the impact of role models in consumer decision making, and growth rate of population. The trend towards cost effective business travel leads toll guests to seek more value for money, which is where our added value differentiation strategy comes into play. Technological Factors An overall development of technological infrastructure related to catering industry and their costs and the potential for innovation within the industry can be classified as important technological factors. Furthermore, hotel bookings have become very sophisticated than ever before. Anyone can book a hotel room in a simple step with the help of internet.

Increasing number of social media such as Backbone, tweeter and websites like trip advisor help both the customers and the hotels. Environmental Factors The hospitality and catering industry often becomes a point of criticism for polluting the environment particularly in most of tourist attractions such as historical places, beaches, forest areas, hills etc. A range of activities related to tourism not only creates pollution, but also disturbs animals and related environment. Moreover, hotels and related businesses are contributing a considerable amount of carbon emissions with negative implications to the issues of global warming. Accordingly, businesses like Hotel Alpha are facing tight regulations to operate their business in the Manner.