Literature review marketing strategy thesis

International marketing solutions become particularly relevant for enterprises that operate in a global business environment and that look for survival or business development opportunities.

Adaptation happens when any element of the marketing strategy is modified to achieve a competitive advantage when entering a foreign market and thus attain firm performance.

Firms following a standardization approach enter foreign markets using the same promotional mix, packages and presentations that were used in the domestic market to lure customers in the export market. Literature reveals that most firms also have specific timeframes associated with their strategic marketing goals or regular planning horizons that provide time objectives and constraints within which marketing plans may be formulated and executed.

In order to illustrate the value of marketing strategy and the process of implementation a detailed literature review was performed. The originality and value of the review lies in the fact that marketing strategy has been analyzed both in terms of its outcomes and as a process that does not yield satisfactory results without effective implementation.

Company performance is one of the most important aspects when assessing the suitability of certain strategies Jain, The literature reveals two distinct but related features to marketing strategy content: At this stage, the input from experts familiar with the new market is crucial in developing an effective strategy.

Managers, therefore, have to prioritize objectives that may be in conflict. Indeed such goal selection decisions may be one of the most important manifestations of strategic choice within Literature review marketing strategy thesis marketing strategy content Child Nonetheless, even if a marketing strategy does not involve such changes to target markets or value propositions, timing is still an important component of most marketing strategies especially in nowadays-rapid changing consumer tastes and preferences, which are accelerated by ever changing technologies.

Executing an effective marketing strategy is just as important as conceptualizing and creating it. For example, when a marketing strategy must be developed to deliver a return on investment in 1 year versus 2 years, then different market segmentation, targeting, and value proposition decisions may be appropriate e.

The meta-analysis uncovers two distinct but related features to marketing strategy content: This deals with the segmentation and targeting decisions of the classic STP framework of marketing strategy, which revolves on market segmentation, target and positioning.

The proponents in this approach argue that trade barriers are getting lower and that technological capability advances and firms are presenting a global orientation in their marketing strategy.

Adaptation strategies may not be so complex but a simple tweaking of the logo and the colours of the packaging can achieve the marketing objectives, or may involve developing new products better fitted to the local palate or new financing models more fitting for the local economy or market.

Because making new advertisements, packages and product lines is expensive, standardization requires less investment compared to adaptation approach of marketing.

Therefore, marketers in the global oriented environment are creating one strategy for the global market and standardizing the marketing mix elements namely product, price, promotion and place to achieve consistency with customers as well as enjoying economies of scale through lower costs.

In the example of a new product introduction in the domestic market, the adapted marketing strategy must be articulated in terms of the marketing strategy elements namely product, price, distribution and promotional aspects, all coordinated to achieve specific objectives within the new market.

Since most definitions of strategy concern plans for how desired objectives are to be achieved, such goal setting is clearly important in determining subsequent marketing strategy content decisions.

Proponents of the international marketing adaptation approach, emphasize the significance of customization to meet varied customer requirements. The literature also suggests there is a relationship of marketing strategy, and marketing mix elements on organizational performance, and emphasizes a further need to perform conceptual and empirical studies.

Marketing strategies can vary from country to country, brand to brand and organization to organization. The mechanisms to implementing a successful adaptation strategy as a follow; once a firm has taken the strategic decision to adapt its marketing strategy, it must make an assessment of its objectives and resources in light of the characteristics of the new foreign market it is entering.

Therefore, Timing is an important marketing strategy decision when examining new market targets or value propositions is the timing of entry or launch e. The Concept of Marketing Strategy Marketing strategy is a significant driving force that distinguishes the success of many organizations not only by well-developed marketing strategies outlining where, when, and how the firm will compete but also by their ability to execute the marketing strategy decision options chosen e.

The decision surrounding the value proposition is therefore a measurement of the value offering that managers consider will create adequate demand at required price points among target customers to allow the firm to achieve its strategic marketing objectives arranged to total firm performance.

These marketing strategies toward firm performance may be either formal, top-down strategies Varadarajan and Clark or emergent or improvisational strategies Moorman and Miner In order for a marketing strategy to offer subsequent amount of value and achieve performance it should be well-timed with market requirements.

Such important time considerations can often impact other marketing strategy content decisions. Another important feature of marketing strategy content is the selection of the market.

Exploring the Value and Process of Marketing Strategy: However, researchers have distinguished important source of constraints that are hard to measure such as cultural differences rooted in history, education, religion, values and attitudes, manners and customs, aesthetics as well as variations in taste, needs and wants, economics and legal systems in the export markets.

Through marketing strategy implementation firms employ scarce resources through marketing capabilities in order to attain the set goals and targets. Day and Wensley ; Varadarajan Adaptation strategies encompass changing the pricing method, promotional mix and packaging of a product, or even the product itself, in order to fit the needs and preferences of a particular export market.

This decision of the marketing strategy content therefore determines which specific resources and capabilities are required to be combined and transformed to develop and deliver the value offering that consequently leads to firm performance.

Specifically, this marketing strategy content decision determines where the firm will seek to compete in order to meet the strategic marketing objectives stipulated. The assumption here is that the value proposition can be delivered by the firm as envisaged and that the delivered value proposition is perceived by customers in the way that decision makers anticipate in getting positive returns.Marketing mix is the combination of the elements of marketing and what roles each element plays in promoting products and services and delivering those products and services to the customers.

iii CERTIFICATE This is to certify that the dissertation titled ―Study Of The Effectiveness Of Online Marketing On Integrated Marketing Communication is the bona-fide research work carried out by Ms.

Amruta Vijay Pawar, student of fresh-air-purifiers.com, at D.Y.

Exploring the Value and Process of Marketing Strategy: Review of Literature

Patil. Sample Literature Review CHAPTER TWO: LITERATURE REVIEW Chapter 2 is an overview of online business and an exploration of trust as a foundation on which online business architecture is built.

A Literature Review on the Factors influencing Strategy Implementation Yang Li 1, Sun Guohui, Martin J. Eppler2 Making Strategy Work: A Literature Review on the Factors Sloan Management Review, Journal of Marketing, etc.) using the literature databases of EBSCOhost, ProQuest ABI, Sciencedirect, JSTOR and Wiley.

Muhammad Babur Farrukh Literature Review. “The search for success factors is what the enterprise of strategy has largely been about” Ghemawat () Introduction Business organisations are constantly seeking ways to enhance their performances in order to compete actively and aggressively in the market/5(16).

Introduction. For the purpose of this study, the Literature Review will be in two parts. The first section will address the Marketing Management Concepts, which includes corporate level marketing, the marketing mix, branding concept, corporate branding and .

Download
Literature review marketing strategy thesis
Rated 3/5 based on 64 review
(c)2018