The Mind of a Marketing Manager

Each organization has or should have a distinct business strategy to ensure they reach their desired goals and objectives. Uniquely, the business strategy, or competitive strategy, should include their target consumers, the product or service desired by their consumers, and their roadmap to remain competitive in the market (Parnell, 2014). However, strategies may be difficult to determine when the organization is engrossed in one industry, but decides to dip their toe in another industry (Bethel, 2016).

Strategy is a set of complicated tactics formulated by the executives of a company directed towards the achievement of company’s goal (Salmela, 2002). It is about all the path ways that a company would follow to reach its ultimate goal. It is a company’s strategy which helps to identify what it does better than the other companies in the industries, which may be different from what it does best. For successful strategy formulation and implementation, a company should know the needs of customers and should have knowledge of its competitors. Through a good strategy a company would identify that opportunity which makes it different from the others (Thompson, 2005).

Price 7 8. Brand Mantra 7 9. Brand Identity 8 10. Brand Equity 8 11. Critical Point 8  1.

In order for corporations to be categorized winning corporations, there must be a set foundation that allows the corporation and the agents inside it, to move as a cohesive unit towards one mission. A clear mission is important because it is the base of the creation of a strategic plan in obtaining the results desired by the corporation. It is much easier to map out the plan towards a clear, concrete, and descriptive mission statement than one that can be misinterpreted by the employees making the calls within the corporation. “But for a company’s mission and values to truly work together as a winning proposition, they have to be mutually reinforcing (Welch 21).” When the goal is not clear, it is hard to set the values―how

What types of strategies could you see yourself employing to communicate yourself in your brand? How will you use these strategies to differentiate yourself from others?

1. Strategies: A business strategy is the means by which it sets out to achieve

Organisations today find themselves operating in an environment that is changing rapidly. The process of analysing the implications of these changes and modifying the way that the organisation reacts to them is known as business strategy.

Alfred Chandler(1963) defines strategy as ‘ the determination of the long-run goals and objectives of an enterprise and the adoption of courses of action of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out these goals’. And Michael porter(1996) sees it as ‘Competitive strategy is about being different. It means deliberately choosing different set of activities to deliver a unique mix of value’.

According to Slack et al. The corporate strategy or business strategy is the guide lines for the whole corporation’s businesses in relation to its markets, customers, and the competitors (2007). In the same context, the same authors discussed the link between the corporate strategy and

Note: Assume Saturation Inc. is in a business of your own expertise, specialization or passion. That is, select any new venture with which you are familiar or would like to be familiar with!

Changing circumstances and ongoing management efforts to improve the strategy cause a company 's strategy to evolve over time—a condition that makes the task of crafting a strategy a work in progress,

Important strategy-formulation techniques can be integrated into a three-stage decision-making framework, as shown in Figure 6-2. The tools presented in this framework are applicable to all sizes and types of organizations and can help strategists identify, evaluate, and select strategies.

A competitive strategy, or business-level strategy, is the way a business used to successfully enter and penetrate into a market (Eastwood et al, 2006), and also, to succeed in this chosen market against its competitors (Johnson et al, 2014). A company needs to develop and apply appropriate strategy to help the company to generate distinctive competences (David, 2007). Compared with the strategies implemented in other levels of operation, competitive strategy is more focused on the competition against other competitors and strategic choices to better attain market share (Harrison and St. John, 2009). According to

(Mintzberg, 1987) suggest that there are five meanings of the term strategy which involve, plan, pattern, perspective, position and ploy which are often seen as an emergent strategy. Firstly, plan which will allow people to achieve their targets from one point towards the other. Secondly pattern goes towards action delivered such as an organisation which uses high quality strategy to market expensive products to maintain standard, quality and supersede competitors. Thirdly perspective is the vision of the organisation which then leads to directions to achieve outcomes that they desire. Fourthly, position which reflects the decisions which affect the organisation and the deliverance of the organisations services and products within the market. Finally, ploy which is similar to a plan but is really just a specific manoeuvre intended to outwit an opponent or competitor.

There are three primary slices that I would like to address here which are, personal philosophy of mission, corporate philosophy of mission, and the locale of the