Advanced marketing strategy Essay Example | Topics and Well Written Essays - 2750 words

Advanced marketing strategy - Essay ExampleThe main purpose of marketing is just to earn moolah for the product or the service they argon providing. So every company use different strategies for earning pro tantrums and marketing their product or service. There are very famous households names like pampers, coke, surf etc which are very popular globally. These products use different marketing efforts for different countries, by keeping in mind their culture, language and ethics. They use different techniques to build up the loyalty and keep on attracting saucily customers. Famous household products are known for the fictional character and the trust which they nominate built up in years. So, they use different strategies in different countries to keep their product in demand usually bulk get addicted to these like coke or else use to it, like pampers. They usually sponsor big events or work for a cause, which results in peck getting used to the brands. Big households names are famous worldwide and people know it wherever they go theywill find it there.Experiences a firm tidy sum create stage and market experiences by combining or orchestrating several goods and services for example an amusement third estate or a water park directly represents the experiential marketing. Customers after paying ticket, enjoy the rides in the park, enjoy immediate thrill which is provided by these experiences. A theme which is used by restaurants, they git also be a good example of direct experiences.Solutions can also be marketed extensively. ... The perfect solution is to identify peoples problems first and then fit your product right into the place, so thats how it is simply done and will also work like wonders. This results in products which are marketed for their usage. They are pictured and considered as the tizzy shooters for the customers, they create an image of only solution to the problems.3. Would you agree that Porters framework of generic strategies is usef ul for (a) academics, (b) practitioners Illustrate your answer with examples. In 1980, despite its instant recognition as one of the most important theoretical frameworks of the business science, the generic strategies developed by Porter were criticized by many academics and professionals. There is evidence by familiar Motors which became the market leader within 10 years through implementation of particularly the differentiation strategy chalked out in the framework. GM also have to work efficiently to cover up all the different price ranges which are already present in the market, which will prevent any new entrants from venturing into the market and also to compete with the small player that existed within these price divisions. However,one of the main criticisms is the obsolescence of the model in the current hawkish market conditions, when new sources of competitive advantage are available to companies. The new competitive conditions of the 21st century demands a re-formulat ion of this model in order to integrate the new business paradigms set and applied by academics and professionals. A re-interpretation of generic strategies from the perspective of market relationships is necessary. The three generic strategies,cost advantage,differentation and focus are said to be