Contemporary Issues in Strategic Marketing

This business report aims to show how important a marketing plan is, demonstrate the key elements of a successful marketing plan and how a marketing plan helps a company to sell its products and service. This Marketing plan will use the company Aldi as a case study, (the supermarket chain) to demonstrate how a marketing plan works. Aldi is a major supermarket chain that provides highly competitive retail food products to households. As a retail company they face all the marketing problems that other retail company faces (product range, price and marketing segmentation).

3. Please apply Porter’s Five Forces model to the steel industry. While doing so, clearly identify who is behind each force – for instance Suppliers, Buyers, Substitutes, Competitors, etc. And what is the impact of each force on the profitability of the industry – in terms of the following levels - High/Medium/Low. At the end, also provide a summary of all the five forces and propose whether you think the steel industry is attractive industry or not an attractive industry.

This business plan is for Reek’s Bistro, a new medium-sized restaurant located in the Triangle area of North Carolina. The Triangle is made up of three primary cities of the Research Triangle metropolitan region, Raleigh, Durham, and Chapel Hill. Reek’s Bistro will focus on Mediterranean cuisine in an American style restaurant environment. An emphasis will be on natural foods that taste good and are good for you. The restaurant will procure locally grown produce, while offering additional services and products, such as catering and Reek’s Bistro brand items sold in grocery stores.

Porter’s 5-Forces model will be used in conducting the assessment of Smuckers industry external environment. This analysis will look at factors that affect the

The company must divide potential customers into segments and find ways to best satisfy them. Strategic marketing deals with the big picture marketing planning. It analyzes how a company can best satisfy its customers and makes a profit as it. Strategic marketing planning is directed from the top of the company and is extremely important in any for- profit to organization. Several key principles govern strategic marketing. Understand the Marketplace and Customer A company must identify the sources of demand for its products and closely analyze the competitive landscape in which it wants the consumer to prefer its products over those of competitors. The company must divide potential customers into segments and find ways to best satisfy them. Each segment may require a distinct marketing mix. Deliver Value While satisfying individual consumer segments and gaining market share is important, the company must add value to be successful in the long term. Strategic marketing planning must be built on a strong foundation. A company has to deliver a tangible benefit to the consumers of its products.

Product information will come from outside the source and be shared between consumers. Consumers will post positive and negative feedback about products and companies and other consumers, total strangers, will value those opinions. Businesses must really understand their market and customers so as to facilitate only positive feedback.

How are companies such as Ford, Wal-Mart, Apple, and Nike implementing branding as a form of marketing? According to Wagner (2013), businesses have five factors that may cause failure: lack of dialogue with the customers, lack of differentiation, inability to communicate value propositions, weakening of leadership, and failure to have a successful business model. Operating a business can be challenging and rewarding. Success is achievable by attaining a goal internally and externally within a business. Lee, Hye, and Young (2013) use social exchange theory to describe the functions of an organization in comparison to counterparts due to interchanging and the

1. Marketing Knowledge: You have put together some instructional videos that you think would be great for use in the classroom, although you have never been a teacher nor worked in a school. Your goal is to become a leading vendor for educational videos, so you attend some educational conferences, hoping to interest teachers and schools in your products. What are some of the questions you need answered in order to successfully market your products? What do you need to know about your market?

As described on page 16, Michael E. Porter five forces model, consists of five various forces.

The five forces industry competition also known as the five forces model or Porter’s model was developed by Michael Porter in the late 1970’s. This tool is utilized in businesses to analyze the industries current profitability and attractiveness from the outside-in perspective. This model may not be as precise or practical in this era of technology, for technology has taken production, marketing and industries, to another level. Companies have developed significantly over the years with easy access and affordable rates to internet services, with both the companies and customers being able to do business virtually. Important to note is how technology has created one world through globalization.

-Define Strategic Marketing Management and identify some current issues in strategic marketing management that might be faced by an organisation.

There is a new trend in today’s economy that does not involve large chain suppliers, retailers or wholesalers. This new trend involves companies that allow owners to rent out their physical assets to increase their income. This new business practice puts the producer directly in contact with the consumer to conduct business. This new trend in the consumer marketplace is known as the share economy. This paper will discuss how this new concept of the share economy has had an effect on the traditional economy and whether the shared economy is creating new value for the consumer or if it is just replacing existing business.

Porter’s Five Force Model is invaluable in analyzing the competitive strengths of an industry. Below is the diagrammatic representation of the model for better understanding.

Marketing management consists in distributing resources in order to produce net present value to shareholders among an environment of market-product investment involving risks. A. Rappaport, 1981). As a result, a marketing strategy is defined as the method on how the organization’s resources are put at risk seeking to get competitive advantages (V. Cook, 1983).

As a result of the research & analysis conducted and the Voice of the Customer (VOC) meeting with Samsung Electronics several recommendations to address their problem are being presented.