Introduction:
Within this essay we will evaluate and cover the effectiveness of the marketing strategies in achieving a business's core goals. The main area's that will be covered for market strategies include; Market Segmentation/Differentiation/ Postitioning, Price, Promotion and Place, People, Processes and Physical Evidence, Emarketing and Global Branding. Each individual marketing strategy stated above plays an effective role in achieving profit maximization, growth, and increased market share and customer service within a business.
Firstly we will look at the business's key goals Profit Maximization, Growth, Increase Market Share and Customer Service and why they are such important goals, which can decide the outcome of the business's success.
Profit Maximization:
Profit Maximization is key for a business, it allows the business to have success, and this success is defined by maintaining steady cash flow by paying of any liquidity and expanding the business moving forward. All in which profit maximization can provide.
OS market share - Janurary 2010
Graph of the TNS Market Share for the top 4 UK Sup...
Graph of the TNS Market Share of UK Supermarket As...Profit Maximization mainly focuses on expanding its product range and increasing its sales by doing both of these things it allows the business to increase its market share and it also contributes to a business's growth. For example Apple have figured out how to use its unique advantages as benefits to customers. One of those unique benefits is they have the ability to produce a superior or quality product to its competitors, by doing this they automatically maximize their profit as they take their competitors out of the market.
Growth:
Growth is simply a business expanding; it is one reward that a business can benefit from by making maximum profit. A business will want to be sure that they have put planning and research in place before they implement any actions of expansion. They need to make sure that this growth will be sustainable for their...