Term Paper on "Marketing Strategy Are Market Driven, the Quantitative"

Term Paper 5 pages (1550 words) Sources: 1+

[EXCERPT] . . . .

marketing strategy are market driven, the quantitative description of the market followed by their expectations are the motivating forces which mold the strategies and the policies of the company. The company during its operation has to monitor and control the public demand, followed by the standards of the goods being demanded. The standards of the goods being sold in the market are transitional, and experience consistent changes with the passage of time. The changes beyond being public motivated, can be influenced and generated by the other companies themselves. In the modern era, the concept of the need analysis of the market has toppled, and followed by the measures which transform and influence by need of the public i.e. The public is advice to adopt the changes introduced by the companies (Thomas, 2006). Such measure has resulted in competition, and since then onwards the companies have attempted to topple the interests of their rival companies through proactive assessment of the market.

In the case of pharmaceutical companies, the company never has the authority to introduce a certain product on its own; rather the production of the pharmaceutical company is based upon consent of the research laboratories, followed by the market assessment. The pharmacy business is not there to facilitate the aspirations of the public through introduction of commercial products, rather the business of the pharmaceutical company is itself extremely responsible and has to driven not through forces of motivation, rather the business is accelerated through need assessment of the public. The pharmaceutical business has to fulfill the requirements of the market with the consent of the research institutions, it never has the permission to evolve the public, and make them captivate towards the particular drug, the need of the public can never be evolved, and rather the need of the public has to be fulfilled by the company. With the passage of time the rise of epidemics have been uncontrollable, and there have been diseases which have been researched and identified, and have the potential to victimized good number of people, in such cases there exist a possibility that the pharmaceutical company should instead of evaluating the market can introduce the drug for the potential but rare disease irrespective of whether the drug has been produced by the rival companies or not. Such tactics are launched mainly on moral grounds to offer preventive techniques to the people to avoid any significant social and moral collapse of the human society.

The participants of the mature market do not take into account the strategies of the rival companies, and for this reason the special focus of such companies is the market. The primary focus of the companies within the mature market is to ensure smooth supply of the goods, which are in regular demand. The demand factor has to be adjusted through the incorporation of the measures and variations based upon the market condition. The mature market certainly share the allowance of introducing competitive products in the market, but such measure is expected to cause negative consequences upon the contemporary practices of the companies associated with the mature market.

The element of fashion is always transitional, therefore products associated with arts and fashion are expected to experience continuous shuffle with the passage of time. The interior designing has been a subject which has transformed with the passage of time, and the transformation of the products is not subject to the conditions and expectations of the market, rather such reforms have evolved due to the initiatives adopted by the respective companies related to designing industries. The fashion is a message which is never received, but always delivered; therefore in such area the market has the option to invest its thoughts and finances for the fabrication of the goods which are coherent to the likeness of the market, not to their need. Fashion is not a need; it has been a source of pleasure which is attainable through inquisitive ideas and uniqueness. The companies relevant to such profession are able to secure market share through their deep involvement and commitment towards the market, not to their need.

The products which are sold in bulk, but at low profit margins are need driven. The companies which produce such brands are aware with the commonality of the product in the market, therefore the rise in profits will never support the company, and rather the cheaper its sold i.e. above the cost price, the increment in the market share is imminent. In such scenario, the company can be expected to introduce slight modifications into the product which will eventually justify the rise in the cost price, which in return will secure increased profit margin for the company. The special focus of the company shall be towards the performance of the rival companies, whereas the need of the public is constant factor.

Question No. 2

It is advisable for the Tropical Paradise Resort to offer the services in bundle, and price those accordingly. The resort has to evaluate the feasibility of such decisions through study of human psychology; the person will is willing to spend more than thousand dollars for vacation is less likely to express their reluctance to spend slight more hundreds of dollars in exchange for a comprehensive project. The scheme through which numbers of services will be offered for slight rise will not be a matter of concern for the tourists, the tourists do carry certain provisions to accommodate price rise in their budget, and such provision should be effectively utilized by the resort to increase its profit (Thomas, 2006). The major focus of the resort shall also be towards the improvement of the qualitative standards of the service in all departments, so that the repeated customers are aware of the improvement in the service of the resorts in exchange for slight increment. The company is likely to lose the interests of the senior couples who are less motivated towards the thrill and adventurous sets of the activities, but their interests and affiliation can be retained if the resort is successful in the incorporation of the super-qualitative standards. The change either magnanimous or minute will always be adored by the tourists, and such changes are expected to be encouraged by the tourists in exchange for deal.

Question No. 3

The important and relevant information which needed to review prior to taking the decision regarding implementation of the advertising plan is much beyond the review of the status of the rival companies. It is important for the group to review the advertising strategies of the rival companies, and assess the changes in their earnings and market share after the launch of the advertising campaigns. The abrupt consequences of the advertising of the brand on the performance and the market share of the rival companies shall be estimated. The profit is important, but the profit shall never be recovered, it shall be explored. The brand advertising therefore has to be specifically launched in the areas where the company has to explore and generate revenue in reasonable quantum. As vice president of the marketing department, I will assessed the implications of the advertising campaign in long run, I ought to ensure that no such advertising tactics are employed which can damage or restrict the contribution of the brand for specific purpose, the advertising has to be comprehensive package which shall develop the image of the brand, and associate the elements of versatility and creativity with the brand. As vice president of the marketing company, I plan to adhere by the philosophy that the advertising shall not be used for the increment of profits, but rather it shall be utilized as the medium to effectively communicate with the public to deliver the objectivity of the brand.

Question No. 4

The buzz is considered to be the powerful approach… READ MORE

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