‘How Marketing Strategy Can Develop a Competitive Advantage for a Firm?: a Case of Hsbc’

A marketing strategy is important for all company because it gives the opportunity to make them a products or services, which it will generate a profit. A marketing strategy combines all the business goals together and helps to focus on selling activities, and helps to determine the price of each product. It also helps to determine possible target clients. Therefore, it’s a combination of the four Ps: product, price, promotion, and place. Throughout this paper, I will explain the elements that makes PNC Bank successful and what are the areas that need improvement.

In increasingly competitive markets, consumers have better choices over where they buy their products. For an organisation to meet its business objectives, it has to find out what consumers require and then identify the best way in which it can satisfy these needs and wants. Creating a competitive advantage can be difficult. A unique marketing strategy with clear objectives is vital to ensure effective promotional activity.

3. Defining the firms marketing scope – basing it on customer satisfaction; comparisons to competitors; and maintaining strategy development

Marketing strategy is an explanation of what you want to achieve with your marketing efforts and investments. It must go hand in hand with your business goals. A key component of marketing strategy is keeping your strategy in line with your company’s overarching mission statement which Thomsons ITM work extremely hard at.

“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

While non-profit organizations differ from profit seeking firms in several ways, non-profit organizations need to engage in marketing efforts to generate financial revenue to support their causes. All businesses need marketing plans to generate revenue and measure results. In non-profit businesses, community service target levels and education service target levels can be used to measure results. Unlike profit seeking organizations that focus on marketing solely to customers, non-profit organizations have to target clients and sponsors. A marketing plan helps to identify the target customer, identify who needs the service, it creates awareness about the services

Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in

From its marketing purpose, the major role of offline and online advertising was to build brand awareness and improve consideration among potential bank customers. In 2009, the brand awareness and consideration dropped significantly because of

Strategic marketing management is the process of formulation, estimation and implementation of marketing strategy by an organization. Indeed a marketing strategy

What is Marketing Strategy? The object of marketing strategy is to increase sales and a supportable competitive advantage in the marketplace. Marketing strategy includes short and long-term actions that divide up the strategic plan of the company including the formulation, evaluation and selection of market-oriented strategies. Marketing objectives contribute to the goals of the company. A good marketing strategy is derived from market research, which allows the business to focus on what the right product mix is to be able to achieve the maximum profit potential for a sustainable the business. Marketing strategy is the groundwork of any marketing plan.

The paper discusses the role of Marketing with a broader vision. The paper encompasses the correlation of Marketing with Corporate strategy and Competitive strategy. The paper calls for us to think of role of Marketing beyond its role independent of other business strategy. A concern for attention paid by non-academics outside of marketing towards marketing literature is also brought up. According to paper Marketing is defined is phenomena of study of real world problems. Paper also brings in the challenges that marketing team faced in 70’s and 80’s of 20th century due to industry’s Diversification and Divestitures.

Companies cannot last without customers and Marketing strategies that aim to develop customer relationships (Ferrell & Hartline, 2012). Long time ago, many people didn’t think that having a Marketing Department in a company was very important or necessary. Actually, many companies start to realize that is very important and necessary have a Marketing Department inside the company for communicating to consumers what they are selling. Also, if someone wants to create a successful company has to have a Marketing Department inside of the company. For example, a strategy of Marketing is when people see some advertisement on the street or on television, or when they see promotions in magazines or newspapers.

Banks have to take fast steps to vanish away the negative impact of the crisis on consumer perceptions of the bank. Although according to many authors, marketing is the only key left in overcoming the bad impact of the financial crisis. But still there is no pre define ways about how to make the marketing in this difficult time. Some believes that companies should remain away from making big changes in the marketing mix

-is concerned with how each part of the business is organized to deliver the corporate and business-unit level strategic direction. Operational strategy therefore focuses on issues of resources, processes, people etc. Strategy is the process of planning & executing various maneuvers or actions inan attempt to reach a goal. Strategy is often associated with business, politics,& military planning, but individuals can also strategize towards achieving their career, health . Strategy is essentially akin to planning but implies a maximization of resources with logical thinking, intelligence(acquired knowledge) & leverage

There are a lot of authors speak about the marketing strategy, the marketing strategy is very important in business, it can lead the firm towards attractively economic opportunities which are adapted to their imagination and know how to provide a potential to help the company grow and earn more profits (Lambin,1997). If we want to have good marketing strategy in the firm, we need to understand the strategic situation confronting in an organization, it is an essential starting point (Crvens, 1986).