Developing Marketing Strategies and a Marketing Plan Paper Example

Chapter 1: Overview of Marketing

Marketing is a strategy whose primary goal is to establish, maintain and satisfy a client by providing the right commodity as well as efficient services. The introduction of product variety in the market can affect the sales of an existing product as in the case of Mac Donald's burger. In marketing, a producer has to put in place innovative measures that can increase the rates of customer return; a firm that offers its customer the same product all the time is susceptible to innovative market entrants. An example can be derived from the case of MacDonald Company adherence to the old-school fast food which is less preferred compared to new products from Five Guys and Shake Shack. The burgernomics presents a useful lesson to marketers by encouraging creativity that can guarantee product evolution to meet current needs as well as competitive levels. It is also evident that the most preferred product in the market tends to attract new customers because satisfied clients act as additional channels for advertisement. For instance, the video shows children expressing their likes and preferences to the fast food produced by Five Guys. In some cases, large companies can avoid local competition by venturing into international markets as a strategy of maintaining high-profit levels. For example, MacDonald still records high profits in the US, but this has been dwindling since the 1980s; this has prompted the need to consider marketing their fast food products abroad. Companies should also pay attention to the needs of employees and motivate them to produce new products all the time. For example, Shake Shack has established creative ways of improving the lives of its workers.

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Chapter 2: Developing Marketing Strategies and a Marketing Plan

The development of a marketing strategy and plan should put into consideration the size of the company, quality of service, preference of the customers and the ability of competitors. Whenever planning, a company should recognize the primary interest of the client which is characterized by getting the right commodity, in the best quality or quantity, timely delivery and at an affordable price. Well-established companies such as Amazon often find it easy to strategize because the companies have large economies of scale to give meet the demands of the customer. For instance, the introduction of the online sales tasks can force many online based companies to reshape strategies; however, Amazon offers exemplary services to its customers making it the most preferred in the market. This implies that no bigger strategy or market plan supersedes the goal to satisfy the buyers. Well established companies have put in place adequate technology, infrastructure and human resources which is capable of meeting a wide variety of demands within a short time. This advantage that is enjoyed by mature companies often turns out to be a significant barrier for new entrants. A firm like Amazon has been in the business for many years where it has developed all its resources worth billions of dollars. This means that a new company should be able to match the technology, creativity, and efficiency of Amazon to stand out as a real challenger. In most cases, a new entrant is likely to make losses and give up the competition before rivaling the big player in the market. It evident government policies can have a greater impact in forcing companies to evaluate existing strategies. However, this type of taxation policy has more impact on new firms with few customers and low-profit margins.

Chapter 3: Social and Mobile Marketing

Social marketing can be defined as the application of the conventional principles or techniques of marketing to enhance people's welfare, social, physical as well as economic situation. In this case, marketing strategies can be adopted by organizations to share ideas, behaviors as well as attitudes to the society which aim to benefit the targeted audience. During the celebration of 100 years since its foundation, Oreo decided to use its social influence to encourage millions around the world to revive the joyful youth moments and enjoy life. This is a famous cookie production company that decided to market an idea using various social media tools that included Facebook and Twitter; which are considered global connective tissues. The online connectivity allows people to share experiences and opinions thus promoting the primary product or goal of the marketer. In the same way, these social media tools have proven to be powerful in marketing products; they can be used to market social ideas to many people. It is clear that the use of social media is one of the cheapest and most efficient ways of reaching out to many customers as compared to traditional methods such a TV broadcasting. Social marketing does not provide direct profit to a company, but it offers indirect advantages by reaching out to many potential customers. Consider the example where Oreo managed to acquire 87000 news feed stories that were accessed by over 8.5 million people around the globe. Such a strategy can help in boosting a particular brand and place a firm in a comfortable competitive position.