Literature Review on Marketing
Literature Review on Marketing
This part of the thesis deals with the research and critical comments on various literatures related with the marketing activities that can be implemented by a firm to improve their business performance.
Marketing Strategy:
According to Ferrell and Hartline (2010) Marketing Strategy is both art and science where the firm finds or plans ways to deliver their value by fulfilling the needs & wants of their potential customers. This helps in determining the marketing mix and analyzing the competitive advantage of the firm by implementing and presenting new ideas so as to satisfy their customers. Employing strategies helps in increasing the level of sales by branding, advertising & promotion.
So as per the authors (Ferrell& Hartline, 2010) the points that are to be taken under consideration by a firm to properly establish a marketing strategy are discussed below:
Firstly, a proper marketing plan is to be established as it helps in providing the necessary detailed outline to carry out the marketing program for a firm. As per the authors ,the marketing plan is not at all similar to a business plan; but a business plan contains a marketing plan along with financial, capital and human resource. Therefore, the core means to accomplish the desired goals & objectives of an organisation's marketing strategy is through its well defined marketing plan.
Secondly, a firm must aim in seeking marketing opportunities available by collecting and analyzing the information. The technique used for data collection& analysis is through situation analysis; which is a process of data collection that describes the current& future issues & trends that can have an effect on the internal, customer, external environments respectively (Ferrell& Hartline, 2010). This helps in making the strategy by identifying the environment of the business is dealing in and analyze whether the plan will be beneficiary or not before implementation.
Then, a Marketing expansion is to
This part of the thesis deals with the research and critical comments on various literatures related with the marketing activities that can be implemented by a firm to improve their business performance.
Marketing Strategy:
According to Ferrell and Hartline (2010) Marketing Strategy is both art and science where the firm finds or plans ways to deliver their value by fulfilling the needs & wants of their potential customers. This helps in determining the marketing mix and analyzing the competitive advantage of the firm by implementing and presenting new ideas so as to satisfy their customers. Employing strategies helps in increasing the level of sales by branding, advertising & promotion.
So as per the authors (Ferrell& Hartline, 2010) the points that are to be taken under consideration by a firm to properly establish a marketing strategy are discussed below:
Firstly, a proper marketing plan is to be established as it helps in providing the necessary detailed outline to carry out the marketing program for a firm. As per the authors ,the marketing plan is not at all similar to a business plan; but a business plan contains a marketing plan along with financial, capital and human resource. Therefore, the core means to accomplish the desired goals & objectives of an organisation's marketing strategy is through its well defined marketing plan.
Secondly, a firm must aim in seeking marketing opportunities available by collecting and analyzing the information. The technique used for data collection& analysis is through situation analysis; which is a process of data collection that describes the current& future issues & trends that can have an effect on the internal, customer, external environments respectively (Ferrell& Hartline, 2010). This helps in making the strategy by identifying the environment of the business is dealing in and analyze whether the plan will be beneficiary or not before implementation.
Then, a Marketing expansion is to