Trategic Marketing Plan Essay Example | Topics and Well Written Essays - 3500 words

Trategic Marketing Plan - Essay Example Today, thi form of global marketing i referred to a the hybrid trategic approach, or "glocalization." The trategic intent i to ue a centralized trategic "footprint" to build global brand identity, while allowing country-pecific flexibility in the executional or tactical and communication mix deciion. When determining what the trategic implication are for global interactive advertiing under thi form of marketing, one find that the concept of global marketing and global interactive advertiing are no longer utilizing an ethnocentric perpective. Intead, global marketing hould be conidered polycentric or geocentric (outward looking). Global marketing acknowledge and ue trategic intent to coordinate the combination of centralized corporate or brand directive with more localized adaptation in interactive advertiing placement and executional deciion-making. Thu, global marketing doe ugget that reaching global conumer i a trategically intended outcome of a hybrid trategic approach. In more de tail, four main factor included in the above-mentioned approach are product, price, place, and promotion. In other word, when marketing their product, whether locally or globally, firm need to create a ucceful mix of: A product i defined a: "Anything that i capable of atifying cutomer need". Then the product i the central point on which marketing energy mut focu. Finding out how to make the product, etting up the production line, providing the finance and manufacturing the product are not the reponibility of the only marketing function. However, it i alo concerned with what the product mean to the cutomer. Marketing therefore play a key role in determining uch apect a: * the appearance of the product - in line with the requirement of the market * the function of the product - product mut addre the need of cutomer a identified through market reearch. Buinee need to regularly develop new product and market for future growth. A ueful way of looking at growth opportunitie i the Anoff Growth Matrix which ugget that there are four main way in which growth can be achieved through a product trategy: (1) Market penetration - Increae ale of an exiting product in an exiting market (2) Product development - Improve preent product and/or develop new product for the current market (3) Market development - ell exiting product into new market (e.g. developing export ale) (4) Diverification - Develop new product for new market Analyi and Interpretation One thing hould be pointed out i how a product appear in relation to other product in the market, or how importance the brand of a product i. Brand i a mixture of tangible and intangible attribute ymbolized in a trademark, which, if properly managed, permit a buine to differentiate it product and ervice from thoe of it competitor, add extra value for conumer who value the brand and improve profitability. Profeor David Jober identifie even main factor in building ucceful brand: Quality Quality i a vital ingredient of a good brand. Remember the "core benefit" - the thing conumer expect. Thee mut be delivered well, conitently, etc... Reearch confirm that, tatitically, higher quality brand achieve a higher market hare and higher profitability than their inferior competitor. Poitioning Poitioning i about the poition a brand occupie in a