Marketing Strategy And Management And Business Analysis Essay

Question:

Discuss about the Marketing Strategy and Management and Business Analysis.

Answer:

Introduction

It is evident that any organization needs apt methods in all its operations so that it can speculate its survival and growth. For a sustainable business, any organization be it small or large needs to embrace strategies that will promote diversification and a competitive edge in a market that is dominated by market players that are concerned about excluding the weak companies from the market (Winston, W.and Weinstein 2016,p. 34).The use of the traditional methods say in marketing and computations instigates waste of resources and decreased sales. It is imperative for any organization to be sensitive about the way that it treats change and the pace at which it embraces it. Organizations thus must engage in informed decisions that will make the organization to command a larger market share as compared to the initial figures.

The organization is facing some challenges that need to be addressed through strategic planning. The major problems that the organization is facing are the lack of customer oriented policies and the use of traditional methods in calculations and marketing of the products of the institution. The objective of the organization is to more efficient in its operations so that it is at par with the strategies that the other market players are embracing.

The greatest challenge that the organization is facing is the technological advancements that are already in the market and yet the organization has not yet come up with policies that will make it run its operations free of redundancies, inaccuracies, and bureaucracies that are as a result of the use of the outdated methods in running the organization (Winston, W.and Weinstein 2016,p. 28). The paper will focus on the possible solutions to the problem facing the organization and the policies that will be coupled with the perceived changes. The business analysis criteria will be applied to the company so as to assess its situation now and the prospects that it can attain if it strategically comes up with the most feasible policies.

Business case

The organization has the problem of inefficiency in the operations ranging from uninformed customers, physical counting of stock and extra employees in the enterprise. The problem cycles around the delayed decision making that otherwise could have saved the situation. In the case of considering a SWOT analysis of the business, it is evident that in the aspect of opportunities there are several for the company. For instance, the company needs to adopt new technologies that will ensure that the products of the company are well marketed.

To be specific, the company can engage in internet marketing that will ensure that a wide range of information about the product of the company reaches a large geographical area. Also, customers will always be informed say through the website of the company about any information that they wish to find about the company in the most timely and accurate way. The other opportunity that is feasible for the company is that it can engage in market development. The market development can be through identifying the changes in the customer’s tastes and values and then customizing the products towards the satisfaction of the identified needs. ICT adoption will be the U-turn for the organization. With the ICT the communication between the customers and the employees will be necessitated, and the management of information systems will also be computerized making data to be easily retrieved and accurate in all the events.

Stakeholder Analysis

The key players that are involved in the market are the employees, the competitors, the customers, the regulators and the managers. All the parties have their specific interests in the company, but it is up to them to blend their diverse interests so that all the aims of the stakeholders are integrated to form specific objectives that should be focused on all the interested parties. The stakeholders must be considered in the decision-making process of the business because of the information that they provide to the company making it always to make decisions that are well-informed. There are various knowledge sources that are provided by the stakeholders that include; documents that can be informed of journals or records from the previous analysis of the customer values and expectations.

Moreover, the knowledge sources can be in the form of interviews and questionnaires that were conducted on the potential customers. Also, information can hail from the view of the management about the company which can be documented for one to be able to retrieve the information whenever it is required. The major source of information regarding the policies of the regulators is from data published in the national gazette that informs on the strategies that the government has put in place.

The first stage involves investigation of the situation. At this point, the company will identify its objectives such as those of attaining high profits, retaining competent staff, creating efficiency and total customer experience. The company will also look how much resources it has to embrace new technologies in management information systems and relationship marketing (Baker 2015, p.43).

The organization also considers the conflicts that may arise in the case that it may embrace sophisticated methods without the consent of the other stakeholders in the case of marketing or managing records. The problems that the company is facing should be solved in the light of the sole objectives of the company as a whole. For instance, the company must ensure that the strategies that it is taking into consideration will make the company more efficient and also make it more competitive in the market that is dominated by rivals that are already applying sophisticated methods in MIS and marketing.

The next step is to verify the needs that are supposed to be met. In the case of the company, the company must take advantage of the prospects that will be enjoyed in the case that it embraces technology. The technology will come in handy with the creation of avenues where customers can bring forth their concerns and within a very short time, they can be assisted. Moreover, the evaluation stage majorly oversees the viability of embracing technology in the customer care services and in the keeping of records that are of great significance to the company (Winston and Weinstein 2016,p. 34). The feasibility of technology is verified so that the company can effectively utilize its limited resources.

The last stage is to explain the strategies that must be in place so as to ensure that the organization solves the problem that it is facing. The strategies that should be in place are like the company training its staff on how to use the management information systems in stock taking. Also, the company can assess how many employees need to be recruited to facilitate the customer care services through the website of the company.

Business Context Process

In the business processes, the problem will be identified; in this case, the problem is the ineffectiveness of operations through the use of the traditional methods that have led to the wastage of resources. The next step would be to formulate the alternatives that are available that will help- in solving the problem. The alternatives in our case are for instance is to adopt a more sophisticated method of counting stock, carrying out strategic marketing policies, to maintain the current situation for some time till the company feels it is ready for change (Baker 2015,p. 33). After formulating the alternatives, it's time to select the best alternative which is the embracing of technology in all the departments of the company.

The last stages would be to evaluate and implement the policies that will be done through the management is the collaboration with the major stakeholders. The review process will critically analyze the viability of the chose idea in terms of the available resources and the value of returns promised.

Conclusion

In any enterprise, there is a need for amendments to be done the methods of the company so that it is run in the best way. The decision to embrace change should be acknowledged with the majority of the shareholders of the enterprise. The strategies that will be adopted will determine if the company will be sustainable or not in both the short term and the long term.

Bibliography

Baker, M .J. (2015). Marketing Strategy and Management, Palgrave Macmillan.

Winston, W.and Weinstein, A. ( 2016) Defining your market: Winning strategies for high tech industrial and service firms, Routledge.

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