Corporate Objectives and Approaches to Marketing

Question: Discuss about the Corporate Objectives and Approaches to Marketing. Answer: Introduction: Corporate objective are something that is related to business as a whole and they are fundamental to strategic planning that are performance enhancing. An organization should specify the corporate objectives before strategic options generation and this should be completed prior to evaluation of possible strategic choice. Selected organization for evaluation is Woolworths, which is the leading retail food company in Australia (woolworthsgroup.com.au, 2017). Corporate objective of Woolworths is to transform the organization into a business that serves customer first and helping in neutralizing its competitors. It intends to become customer centric. Corporate objectives of this organization is achieved by setting few priorities. This include building a customer base and store led team and culture. Delivering sustainable sales momentum in food division is another priority to achieve the objective. Another objective is to evolve their drinking business for providing customers with convenience and value. Corporate team of Woolworths focuses on continuing to improve shopping experience and offers for their customers. Woolworths intends to become a lean retailer with the help of system excellence and end-to-end process. Therefore, from the above-identified corporate objectives, Woolworths is regarded as business that is driven by brand value (Kotler et al., 2015). Marketing concepts of Woolworths: Woolworths has been successful with their overall marketing strategies and their marketing concept evolved from being production oriented to customer orientation. Organizations in todays world have the responsibility for ensuring that needs of customers are satisfied and for increasing profits of customers. Woolworths comes with the concept of selected brand and products and stores needs to best meet the need of shoppers of Woolworths. The organization has developed a three-year marketing strategy for winning trust of customers and increasing customer share in food spending by selling its product at lower prices. Lower prices are regarded as essential for gaining market share and wining customer experience (Hollensen, 2015). Some other marketing strategy adopted by Woolworth concerns its pricing and value delivering. This is implemented to neutralize the role of its competitors and their impacts on sales of the organization. Woolworths has established new food division, which has the responsibility of developing new categories of products, developing strategic sourcing of relationships and improving processing facilitates. Developed marketing strategies of Woolworths would enable driving the focus on customers and making business decisions considering perception of customers. Woolworths offers improved and newer products to their current target market through their products range expansion. It sells the existing products to newer markets by finding and discovering new applications (Meffert, 2013). Core marketing strategy of Woolworths is to deliver right shopping experience to customers every time they visit the stores. It intends to lead the customers through excellence and imparting deep knowledge about services and products. Building up a multi option retailing in various terms such as good quality products and services, lower price and meeting customer requirements by providing in store experience. Strength of the identified marketing strategy of Woolworths is its ability to reduce their costs. It is regarded as one of the cheapest retailer in Australia. Weakness of the core strategy relates to negative perception of customer about quality of products associated with lower prices. Lower price is regarded as one of the core competency of Woolworths and for achieving the corporate objectives aligning with their marketing strategy. Organization focuses on achieving corporate objective by relying on marketing strategy principles (Chernev, 2014). It improves the core offers for ensuring that customers are placed first. Innovation is made for meeting needs of customers as a growth strategy and focusing on range of improving the services and products (Gilaninia et al., 2013). Reference: Gilaninia, S., Taleghani, M., Azizi, N. (2013). Marketing Mix And Consumer Behavior.Kuwait Chapter of the Arabian Journal of Business and Management Review,2(12), 53. Kotler, P., Keller, K. L., Manceau, D., Hmonnet-Goujot, A. (2015).Marketing management(Vol. 14). Englewood Cliffs, NJ: Prentice Hall. Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Chernev, A. (2014).Strategic marketing management. Cerebellum Press. Meffert, H. (2013).Marketing-Management: AnalyseStrategieImplementierung. Springer-Verlag. Woolworths Group: Quality Brands and Trusted Retailing. (2017).Woolworthsgroup.com.au. Retrieved 18 March 2017, from https://www.woolworthsgroup.com.au/ Corporate Objectives and Approaches to Marketing Question: Discuss about the Marketing Orientation Concepts Approaches to Marketing ? Answer : Introducation The chosen organization for this assignment is Google. Google being a famous multinational company specialized in Internet related products and services. The mission of Google is to organize the information from all over the world and make it universally accessible and useful. Google focuses on making Internet an enriching experience for its users (Babin Zikmund, 2015). The vision of Google is to make the Google search engine so strong that it could understand everything in the world. Google is one of the most innovative companies in the world and its continuous quest for innovation makes it a world famous company with almost no eligible competitors. The corporate objective of Google is to push the limit of existing technology to such a level, that it is easily accessible, and easy to use of the regular users as well as for any lay man. The mission and vision of Google is stated clearly such that the employees are aligned towards achievement of those goals. This corporate objective set by Google, and the achievement of the mentioned mission makes it a distinguished company. Marketing orientation concepts Marketing orientation is important for any organization, to ensure the strategies for selling their services and products. The marketing orientation concept of Google includes the use of the product concept, production concept, pricing concept as well as selling concept. Since Google is one of the most innovative companies in providing Internet based products and services, hence its research and development is a continuous process, giving rise to the production concept. The product concept includes the introduction of new products that are first of its kind in the market (Rothaermel, 2015). The two latest launches of Google include Google Allo and Google Duo. The other products are Google search, Google maps, Google translates and many more. The pricing concept of Google is unique, since most of its products are free of cost. It is available online or could be downloaded free of cost. The selling concept includes the pulling strategy of marketing. This includes attracting the custome rs towards the newly launched products rather than using the similar products of other contemporary companies. Core marketing strategies and strengths and weaknesses of the organization The core marketing strategies of Google includes incorporating innovation in all of its products and services. This is one of the core marketing strategies of Google. In each of the products and services of Google, there is innovation (Vorhies et al. 2015). This distinguishes the products of Google from other contemporary companies. Moreover, the services and products offered by Google is user friendly. This ease of use of the products of Google is another essential marketing strategy. The products and services offered by Google is unique and most of them are available free of cost. This is also an essential marketing strategy for the services and products of Google and attracts a huge number of customers. The SWOT analysis of Google is as follows: Strengths Global presence Constant innovation (Devitt et al. 2016) Regular launch of new products Corporate reputation Brand value and integrity Weaknesses Lack of integration among the products as compared to Google Dependency of the advertisement results in unstable cash flow Opportunities New ventures into areas like Android development Threats Rise of Samsung with android operating system Rise of new competitors such as Apple, Facebook. New advertising platforms Lack of a social media platform such as Facebook. The weaknesses and threats could be overcome by incorporating the new marketing strategies such as development of Android operating system, to present a tough competition with Samsung. Dependency on the advertisement for the steady flow of money has to be reduced by Google to mitigate or curb down the weakness faced by the company. References Babin, B. J., Zikmund, W. G. (2015).Exploring marketing research. Cengage Learning. Devitt, C., Boyle, L., Teixeira, D. L., OConnell, N. E., Hawe, M., Hanlon, A. (2016). Stakeholder perspectives on the use of pig meat inspection as a health and welfare diagnostic tool in the Republic of Ireland and Northern Ireland; a SWOT analysis.Irish veterinary journal,69(1), 17. Rothaermel, F. T. (2015).Strategic management. New York, NY: McGraw-Hill. Vorhies, D. W., Linhoff, S., Patwardhan, A., Sun, W. (2015). Marketing Strategy, Capabilities, and Performance: An Organizational Learning-Based View. InProceedings of the 2007 Academy of Marketing Science (AMS) Annual Conference(pp. 219-219). Springer International Publishing.