Strategic Marketing Management
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Executive summary:
In this one i did my report on the ‘Rolex Watch Company’, as we all know that Rolex Comapny is the leading producer of the luxury Wrist watches. And they are the leaders in the field of watch business. In this report i have mentioned the principles of the strategic planning and proters five forces rule and the steeple analysis. And i have apllied all these to my company which ‘Rolex’. And how they are implementing the strategies. Secondly, i have mentioned the effective marketing options tjhat the Rolex company have when compared to the other watch companies.
And thirdly, i have outlined how the globalization changed the business environment and how Rolex company has gained advatage because of the globalization.
Finally, i have presented the implications for the changes in the marketing environment.
(2)
Task 1.a: Out line three key principles of strategic planning:
For any business in order to be successful, profitable and to attain market share there is a need for the strategic planning. Before going to present the key principles of the strategic planning I just want to define what is “STRATEGIC PLANNING”.
Definition of strategic planning:
“Strategic planning” is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.”
In other words, “strategic planning” is to shape and reshape the company’s products and businesses to produce satisfactory profits and also its growth in business.
Secondly, STRATEGIC PLANNING is a management tool which is used for only one purpose which makes an organization to do better job and which makes the members of the organization to work towards the same goals, to assess and adjust the organization’s direction according to the changing environment
“Strategic planning” for any business unit mainly involves three factors.
They are:
1) What
Executive summary:
In this one i did my report on the ‘Rolex Watch Company’, as we all know that Rolex Comapny is the leading producer of the luxury Wrist watches. And they are the leaders in the field of watch business. In this report i have mentioned the principles of the strategic planning and proters five forces rule and the steeple analysis. And i have apllied all these to my company which ‘Rolex’. And how they are implementing the strategies. Secondly, i have mentioned the effective marketing options tjhat the Rolex company have when compared to the other watch companies.
And thirdly, i have outlined how the globalization changed the business environment and how Rolex company has gained advatage because of the globalization.
Finally, i have presented the implications for the changes in the marketing environment.
(2)
Task 1.a: Out line three key principles of strategic planning:
For any business in order to be successful, profitable and to attain market share there is a need for the strategic planning. Before going to present the key principles of the strategic planning I just want to define what is “STRATEGIC PLANNING”.
Definition of strategic planning:
“Strategic planning” is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.”
In other words, “strategic planning” is to shape and reshape the company’s products and businesses to produce satisfactory profits and also its growth in business.
Secondly, STRATEGIC PLANNING is a management tool which is used for only one purpose which makes an organization to do better job and which makes the members of the organization to work towards the same goals, to assess and adjust the organization’s direction according to the changing environment
“Strategic planning” for any business unit mainly involves three factors.
They are:
1) What
References: 1) Strategic Marketing Management, Custom Publication by Alexander Chernev and Philip Kotler (Paperback - Jan 15, 2009) 2) Strategic Marketing Management, Third Edition: planning, implementation and control by Richard M.S. Wilson and Colin Gilligan (Paperback - Jan 26, 2005) 3) Strategic Market Management (Strategic Market Managment) by David A. Aaker (Paperback - Mar 9, 2007) 4) Strategic Marketing Management: The McGraw-Hill Executive MBA Series by Mark Parry (Paperback - Dec 22, 2004) 5) Strategic Marketing Analysis: The Framework by Alexander Chernev and Philip Kotler (Paperback - Nov 12, 2008) Web references: 1) www.rolex.com 2) www.streetdirectory.com/.../how_the_rolex_watch_company_began.html - (23)