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Strategic Mgt

PART ONE
PLANNING PRINCIPLES AND RANGE OF TOOLS AND TECHNIQUES
1.1
Provide a Clear and Accurate Outline of the Planning Principles and Processes Involved In Developing a Marketing Strategy with Appropriate Supporting Examples

What is marketing?
Marketing according to Doyle (1998) “is the management process that seeks to maximise returns to shareholders by developing and implementing strategies to build relationships of trust with high value customers and create a sustainable differential advantage. Doyle (1998)

Marketing principles
Jim blithe, 2006:336 in his book “principles and practice of marketing” defines 5 principles to be considered in developing a marketing strategy as follows;
• Identifying needs among those on whom the organisation depends.
• Developing methods of meeting those needs – providing products or services which do so.
• Promoting those products to customers in order to demonstrate how their needs will be met.
• Handling the exchange processes which result.
Monitoring the overall process to ensure that changes in customer needs or competitive activity have not made the solution in appropriate Blithe (2006)

What is strategy?
Perhaps surprisingly, there is some disagreement among academics and practitioners about what strategy actually is. There are almost as many definitions as there are academics: here are some examples.

Also according to Ansoff 1987 “the positioning and relating of the firm to its environment in a way which will assure its continued success and make it secure from surprise”. Ansoff (1987)

Finally, Porter 1998 says “strategy is making trade – offs in competing. The essence of strategy is choosing what not to do. Without trade – offs, there would be no need for choice and thus no need for strategy.
Ultimately, strategy is what binds the organisation together and gives it direction. Porter (1985)

What is marketing strategy?
Marketing strategies are the means by...