Corporate Objectives And Approaches To Marketing †Free Samples

Question: Discuss about the Corporate Objectives And Approaches To Marketing. Answer: Corporate objectives Corporate objectives can be considered as the coremarketing decision that can help a particular company to boost up their inner performances ("Target finds innovative ways to further CSR objectives", 2016). It can be said that a proper corporate marketing strategy can develop the business and can take the business to a different level of success. The corporate strategy actually anticipates the time frame and it also increases the performance and the flow of the business so that the targets can be reached within the given time period. In this case Marks Spencer is a famous retail business organization that has earned its reputation by making some famous strategic corporate objectives. It is basically a UK based company but the company is spread all over the world. Marketing orientation concept Marketing orientation concept can be classified in the mentioned ways, Product Concept The products should be like the way the customers demand. It can be said that the organization must have the products ready according to the daily needs of the customers and the products must at least carry the minimum quality so that the customers get the proper satisfaction. In this case, MS has maintained a good quality of products from the very first stage of the business. The prices of the products are also very versatile and it almost covers the entire stages of the society(Lemmerer Menrad, 2015). The high class people as well as the middle class people are satisfied with the servitude of the company. Production concept The production concept is totally based on the products those are demanded by the customers (Pooth, 2010). It is obvious that the company will target to produce those products more which have more demand. That is where the production concept lies. Selling concept The selling concept is totally depended on the concept of marketing. People will start to buy more products if the company is able to sell them in a proper mannerism. Proper marketing and proper selling concept can increase the business flow indeed. Marketing concept This is the most vital concept based on which the products of MS will be sold to its target customers. If the company wants to increase its sell then the concept of marketing must be taken very seriously and the authority of the company must try to bring out different marketing concepts(Schmitt, 2010). Societal Marketing concept This marketing concept actually focuses the different aspects of the society while attempting to make marketing of the products. MS should consider its competitors also in the field of this marketing concept and they must come up with new ideas. Core marketing strategy of the organization The marketing strategy of any particular organization is always effective in the field of business. In this case MS have been successfully adapted to all the best strategies those are available in the market. It can be segmented to into few categories, Strength Growth Strategies Growth is mainly based on some ideas based on which the company actually tries to expand the business venture. It can be said that the growth strategy starts from the very initial stage of introducing the product and it continues as the business goes on(Europe 2020, 2014). Innovation Strategies It is one of the most effective strategies where the company focuses to target the customers by producing innovative products. It can also be considered as the innovative strategies which mainly differentiates the company from its rivalry. Weakness Generic Strategies This strategy actually defines the core strategy that company must take while expanding the business area. It can be said that a particular business must put all its focus on the competitors and the situation of the market. That is the only way to build up the correct marketing strategies. The above mentioned strategies are more or less effective for MS but among three strategies, Innovation strategy holds the most advantageous position in the market (Chen Jaiprakash, 2017). Generic strategy is the most basic and amateur strategy so it is not as much effective as the other two strategies. References Chen, L., Jaiprakash, P. (2017). An Insurance Market Simulation With Both Adverse and Advantageous Selection.Risk Management And Insurance Review,20(1), 133-146. https://dx.doi.org/10.1111/rmir.12070 Europe 2020. (2014). Luxembourg. Lemmerer, A., Menrad, K. (2015). Customers use of prices and internal reference prices to evaluate new food products.British Food Journal,117(4), 1411-1424. https://dx.doi.org/10.1108/bfj-07-2014-0270 Pooth, O. (2010).The CMS silicon strip tracker. Wiesbaden: Vieweg+Teubner Verlag. Schmitt, B. (2010). Experience Marketing: Concepts, Frameworks and Consumer Insights.Foundations And Trends In Marketing,5(2), 55-112. https://dx.doi.org/10.1561/1700000027 Target finds innovative ways to further CSR objectives. (2016).Corporate Philanthropy Report,31(9), 1-12. https://dx.doi.org/10.1002/cprt.30102