Strategic Marketing tool (identification, choice-making, integrated or singular, issues arising) - part 2

Saturday, May 7, 2011

Strategic Marketing tool (identification, choice-making, integrated or singular, issues arising) - part 2

Strategic marketing tool is a tool intended for the purpose of reaching certain business objectives and goals and decides the methodologies and steps to be followed rigorously while devising marketing strategies.  In short Marketing plans devised by companies are combined to form an effective marketing tool and one should keep in mind that it is not an activity of isolation and it is connected with other departments like Personnel, Quality, Production and Finance. It will be highly impossible to devise an appropriated marketing tool unless we know, right now where is the organization, where are we heading to and where you want to proceed. In order to achieve their set goals and objectives, every organization makes strategic plans which depending on the scope and size of the organization might be long, medium or short term. In order to proceed towards the milestone of success, it is very crucial for a company to define its mission. XYZ Company based in MNO is not an exception to this.

XYZ is proud to be a leading supplier of MNO products and HACCP certified Organization. Its mission and goal is the supply of hygienically tested products to all the consumers across the country. XYZ Company followed a methodology demanded to devise an effective strategic marketing tool after experiencing certain losses in business. It studied the reasons for the losses and it started off with analysis with regard to its Strengths, Weakness, Opportunities and threats. It gave great importance to SWOT analysis, pricing strategies, study of customers or consumers with regard to what are their tastes and preferences and their affordability to buy. Secondly it concentrated on forecasting with regard to what kind of methods to marketing are to be followed and foresee their impact on their sales. After doing this they concentrated on product, pricing, distribution and advertising and promotion policies.
After all this, they monitored the feed back reactions from the competitors and the consumers. After all the above studies and strategies, XYZ Company gave importance to hygiene and quality which it found are expected by customers mostly. Even in the recently conducted Gulf Food Exhibition, it reaffirmed its premier market presence by having won the award of Best Stand as it was able to prove about the products hygienic qualities and delicious taste. It also won the award committee’s special praise due to its unique product  presentation skills and its sincere focus on quality.

Therefore XYZ Company studied in depth, the customer tastes and likes and devised an appropriate strategic marketing tool which gave prime importance to hygiene and quality and attractive packaging designs which then automatically boosted up the sales of the company. Through its best quality of products, XYZ became a leading brand among discerning corporate clients, luxury 5 star hotels and retailers. After finding out the opinion and preferences of customers through marketing surveys and research, majority of the people in PQR have a liking for dark chocolates and gourmet nuts. So it stuffed the highest quality of product with the finest . After this the company gave importance to the packaging aspects by packing the products in a special way which are most suitable for special occasions, festivities and gifts. Therefore it is evident from this study that in order to devise an effective strategic marketing tool, a company must know the pulses of the customers and market trends through proper methodology and most importantly analyze it’s own strength, weakness , available opportunities for success and threats which have to encountered carefully. Since XYZ company had followed the appropriate methodology, it was able to devise an effective strategic marketing tool which resulted in its success.

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