Strategic Management

In an era defined by technology and impacted by globalization, we observe a steady increase in the number of expectations that originate from consumers. With customers leading demand and taking the steering wheel away from the companies, this apparent phenomenon forces companies to deliver upon those expectations if they wish to survive in their respective competitive industries. With the above being said, the notion behind introducing  new marketing offerings adds to the expectations of the consumer, whether those expectations  are created by the businesses themselves and directly influenced upon the individual, or by being communicated by the customer base, through feedback and public opinion. A primary concept that requires to be addressed when the topic of new marketing offerings is proposed, is the ideology behind innovation. By definition, innovation is deemed as the act of developing something new within a company; whether that is a new offering, a strategic marketing a...

From understanding the concept of marketing management, capturing marketing insights and connecting with customers, to shaping market offerings, the relationship between the brand and the consumer ultimately shimmers down to the concept of communication. Whether that is communication of a brand's values, its offerings or its generic PR endeavors, communication is implemented by addressing the audience in two different approaches; either in mass or personally. Before addressing and beginning to analyze each communicative concept, it is important to understand the primary goal of communication. Evidently, with marketing at large scope, the goal is to promote information to the receiver and encourage them to take action. An example of such, can be a newspaper post in which, varying information are available, however, there is an equal degree of adverts that possess commercial connotation  To begin addressing the concept of mass marketing, the generalized definition of it describes a p...

When addressing the concept of integraded marketing communications, one of the primary frameworks which need to be highlighted, is the existence of the marketing mix. According to Borden, professor at Harvard Business School, the concept of marketing mix addresses the efforts, the combining sequence of activities, the development as well as the implementation of any marketing actions into a framework, during which, businesses are enabled to attain a better grasp of their offering and evident, market force, within their respective competitive industry. (“Meaning of Marketing Mix and Components of Marketing Mix,” n.d.) Similarly, based on William J. Stanton’s teachings, author of Fundamentals of Marketing, the marketing mix terminology depicts a matrix, whose combination and adaptation of four different dimensions contributes to the core concepts of the business’s product, price, promotion, and distribution systems An evident example of its adaptation, is the most recent implementation o...

 In a session defined by retailing, wholesaling and logistics, the primary concepts which I will be going over within this entry will cover and  showcase my understanding upon the concept of technology utilization in the retail industry, in addition to the evident sequence of activities that are found within the range of sales & operations planning procedure. With the advancements met by technology, its imbuement within the activities that are found inside the retail industry have been a more than expected occurrence. The obvious shift in the online ecosystem has redefined the concept of shopping, as online experience and customer expectations are aligned with the concept of privacy, personalization and consistent customization. Ultimately, the imbuement and further implementation of technology within physical locations, addresses these profound wants and needs that originate from the customer base as it also answers to the restrictions opposed by the disruption of COVID-1...

With the imbuement of technology within our endeavors, we observe businesses equip their supply chains with more and more attributes; this observed phenomenon, is a response to the ever ending wants and needs of their respective client-base. However, what defines the success of  the above, is a concept that is resonated and linked with the efficiency of communication that is established through the organization's marketing channels. Nowadays, value development is coexistent with its delivery, and to assist the development and efficient implementation of such delivery, the design and management of integrated marketing channels showcase the evident development opportunities that are found in their unique supply chain, going over their collaboration endeavors in their respective raw materials, components and manufactured goods. Directly linked with the ideology behind integrated marketing channels and explored within the chapter, was the notion of pull and push marketing. The main dis...

Having addressed numerous concepts throughout my entries, found on this blog, it is now perhaps, time to address the concept of price and specifically, the sequence of endeavors that take place in the development of price strategies and programs. By generic definition, pricing is deemed as the process of valuing a product or service, and setting a respective price tag. However, it is worth noting that despite this simple approach, pricing products and services, is often a difficult to accomplish task, as if prices are set too high, customers might find said product or service, to be repulsive, while, if the price is set too low, there will be ramifications within the internal, production and profit related environment of the business. Ultimately, the concept of pricing is dependent upon a number of theoretical concepts, that either imbue the process of pricing with concrete information, or, directly influence the consumer to purchase the product or service. One of the evident segmentat...