Competing on the Edge

A marketing plan can be viewed as a roadmap in which an organization navigates through a sequence of steps in order to promote a service, goods, or program (Thomas, 2015) (May, Apr 12, 2012). Therefore, in order to initiate the occurrence of any marketing activity, it is vital to have a marketing plan to follow in the event to create awareness, attract customers, and to gain business (Thomas, 2015). In having a marketing plan, the organization must delineate their marketing initiative through a sequence of designated steps by strategically organizing, marketing activities while defining who will be their targeted potential customers (Buttell, Jan/Feb 2009). In meeting the strategic objectives of a marketing plan, it should

A business must be highly competitive in the business markets today. For a business to grow successfully, remain sustainable, and competitive a business needs a good understanding of a marketing plan, and the knowhow to put the concepts to work for the business achieving a successful marketing strategy. Remaining successful when an economic growth has leveled out shows a sustainable business. Competitors that follow the same marketing concepts will need to develop a good marketing plan, and implement the concepts into a marketing strategy to remain a competitive business. A good marketing strategy contains a marketing plan describing the products offered, and taking into account

Ferrell, O.C., & Hartline, M.D. (2014). Marketing Strategy: Text and Cases (6th ed.). Mason, OH: South-Western/Cengage Learning

The third table is to outline some of the activities we might find at each stage of the marketing process; this is brief summary of the importance of the different stages.

Discuss the challenges and opportunities associated with planning and developing marketing strategy in today’s economy. Why is marketing strategy both exciting and challenging?

Ferrell, O. & Hartline, M. (2013). Marketing Strategy: Text and Cases, 6th Edition. Mason, OH: South-Western.

“Marketing strategies can have a broad impact on the business in terms of instilling a marketing orientation among all those in the firm: the way of thinking or philosophy of the whole organization. However, marketing strategies can alternatively be seen as dealing only with the development of competitive advantages directly associated with the marketing function such as customer loyalty and distribution channel control. In the latter case, the domain is sometimes even further restricted by sole attention to the various element of the marketing mix rather than the more general issues of customer and channel relationships. There are two key

4. Describe successful planning tools and techniques, including Porter’s Five Forces model, first and second mover strategies, SWOT analysis, and the strategic window.

Marketing planning involves looking at all angles, the best strategy that will enable a company utilize it resources efficiently. Organizational resources are scarce and thus planning become inevitable. Analyzing the marketing requires adequate knowledge with proper strategies to seize opportunities that exist. Market planning requires that organization understand their internal and external environment. Internal

As Jobber(2012) was claiming, the marketing concept is "Achieving corporate goals by meeting and exceeding customer needs, better than the competition". Marketing is the process of telling a true story in an unforgettable manner. As a consequence, it became an essential tool in the competitive business environment. The main objective is to maximize the company 's profit by showing up with stunning adverts. Bearing in mind the development of technology, "It is well known that markets grow by the reduction of unit prices: this is how the computer became a household necessity", this could not be possible without a good marketing strategy (Kapferer 2012, p.205).

A successful marketing strategy plan is fit with the appropriate context, whether it is measured successfully is depends on the companies. Strategies have two essential characteristics, they are made in advance of the action to which they apply, and they are

Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives. Plans and objectives are generally tested for measurable results. Commonly, marketing strategies are developed as multi-year plans, with a tactical plan detailing specific actions to be accomplished in the current year. Time horizons covered by the marketing plan vary by company, by industry, and by nation, however, time horizons are

It is never doubted by academic circles and business environments that the strength of competitive analysis, if not the top, is one of the most important critical success factors in creating and managing marketing strategies. The way a business adapts to competitive environments, characteristic of its focus being self-centered, competitor-centered, customer-driven or market driven (Day and Nebugandi, 1994), will define its place in the complex marketing arena.

Stages in a Marketing Plan This essay will present the stages of a marketing plan and critically evaluate the differences suggested by the leading authors. However it is vital to understand what marketing planning is. Although marketing planning would appear to be a simple and step-by-step process, in reality it is not. As marketing plans are very complex, cross functional and it touches every aspect of organizational life. However the stages of marketing planning will explain and explore some of these issues by focusing on the process of marketing planning.

Most are “doers” and not “planners”. If we want to do the right marketing activities in the right way we must start with a marketing plan. For that, marketing planning must be continuously undertaken to see any shifting market conditions, changing customer needs, competitive threats as well as potential opportunities.