Evaluation Of What Strategic Marketing Management Is

Effective strategic marketing

1.

Effective strategic marketing is a method used by an organization to progress and it outlines its general game-plan for how it will find and draw in clients or customers to the business (Boboc 2016). Every so often publicizing methodology is mixed up for an advancing arrangement; in any case, they are remarkable. Your displaying technique is based on what you have to achieve for your business and promoting tries. A displaying plan purposes of intrigue how you’ll achieve those destinations (Mullins, Walker, & Boyd 2012, p.79). A better than average publicizing procedure wires what you think about how your business fits into the market and the 5 Ps of elevating to make frameworks and methodologies that will achieve your exhibiting objectives.

The marketing strategy is created before starting a business. It is hard to promote without looking at how a business fits into the business focus, your resistance, how you’ll battle, and what you need to achieve (i.e. bargains numbers) to accomplish your cash related targets. By then, you use what you’ve made sense of how to make your advancing arrangement and start your business.

Like a technique for progress, marketing strategies can be fluid, changing not surprisingly to upgrade your results. Once your business is operational, you’ll need to assess and adjust your displaying framework from time to time to speak to changing monetary circumstances, moves looked for after, and changed factors that influence your arrangements, on account of your measurable studying activities and execution of your business (Roeyers, Buysse & Pichal 201, p. 271).

Effective marketing is centered on a specific, not a general, social event of individuals. By the strategy for a plot, consider the particular procedures that might be taken with a thing as central as rice if pitching to these social occasions of individuals: retirees, young mothers or contenders. By focusing on a specific social occasion of individuals and hoping to appreciate that gathering of spectators’ needs, premiums, and needs, sponsors can be best in achieving their objectives (Hollensen 2010, p. 356).

Strategic management is the relentless masterminding, watching, examination and assessment of all that is essential for an organization to meet its targets and objectives. Fast paced headway, rising advancements and customer needs propel organizations to think and settle on decisions intentionally to remain productive (Cravens & Piercy 2013, p.78). The strategic management process helps association pioneers review their association’s present situation, chalk out systems, send them and separate the suitability of the completed methods. The key organization process incorporates analyzing cross-valuable business decisions before executing them. Strategic management consistently incorporates:

• Looking at internal and external characteristics and deficiencies
• Characterizing action outlines.
• Executing action outlines.
• Surveying to what degree movement plans have been successful and taking off changes when needed results are not being conveyed.
• Importance of strategic management

Strategic management process

An effective strategic marketing management is the fundamental driving force of successful present day and business to business (B2B) firms. To be productive, an association must make forceful displaying methodology that satisfactorily positions its things against opponents and gives it the most grounded possible high ground (Piercy 2013). The errand of the forceful procedure is to make, keep up and in addition shield an affiliation’s engaged position in perspective of a sensible high ground. The viability of good position is essential because of the broad hypothesis required (Woodside 2014, p. 279).

With the happening to a key organization, the huge scale levels of various money related and mechanical divisions, and likewise the scaled-down scale level of various claim to fame units, are affected by this front line science. The key organization is basic in the material business as impressively more than some different endeavors. Today, the use of the essential organization is more vital than slack in the material industry. The productive divisions should supply their things decisively to get by, to diminish costs and to grow salaries.

Strategic marketing management refers to how an organization capitalizes on its strengths to provide consistent value to customers in order to effectively differentiate itself from its competitors in the market. Strategic management requires a lot more action from the implementers. For an organization like Babcock international to stay competitive in the market, they continuously have to adapt to the changes in the market. They have to establish, develop and adjust their market strategy to meet the rapid global market changes (Babcock International Report 2015).

Organizations develop strategic marketing plans to capture the target market and utilize the available resources properly to stay relevant in the market. The marketing strategies are integrated into the overall business strategy.  Effective strategic marketing management is the basis for continued success for Babcock international in the competitive market.

Babcock applies the principle of strategic marketing which involves the overall marketing planning. The principles analyses how the company makes a profit and satisfy its customers (Babcock International Report 2017 p 16). It plays a key role in the generation of profits for organizations. Babcock has developed their strategies in the market that assist them in remain relevant and make profits in the market. It has positioned itself as the leading market providers of the engineering services (Ahmad 2014, p. 78). Their expertise provides an understanding of risks and resilience involved which enables them to focus on effective delivery of services available. This strategy enables Babcock to reach its customers and deliver services on time, meeting the needs of the customers. It also identifies gaps in the technical support they provide and generates innovative ideas to their customers. They specialize in offering technical skills to the customers.

Effective strategic marketing management

The company also focuses on long-term customer relationship by creating value to the customer, and it is a strategy that helps them remain competitive in the market.  It also reduces the cost of delivering the core services by increasing availability of assets to the customers (Binet & Field 2013, p 2). Babcock also provides technical knowledge and skills to the customer which assists during transformation. The long-term relationship enables generation of cash flow used to generate growth and also the value of shareholders. Their ability to focus on specific business has enabled them to establish the long-term relationship with its customers. The specification also helps the business to focus more on the engineering service industry enabling it to deliver the best results for its customers (Fulgoni 2018 p. 14).

The key differentiators for Babcock are the unique infrastructure, the technical skills and the long-term relationships with the customers (Entezari, Karimi, & Kianfar 2014). It has enabled the company builds a pipeline of customers through long-term contracts. The company also aligns its risks and rewards with customers through agreements. It enables customers to feel part of the company and needs are taken care of.

Babcock market strategy focuses on customer value, where the company works closely with their customers and also deliver their objectives in collaborating. It tries to identify and understand the needs of its customers and the desired outcomes. Babcock also emphasizes the value of service to its customers. It tries to develop the relationship with the customers and build a reputation for the company.

The strategic decision-making process is important to all organizations (Paradiso 2016).  Babcock International has made strategic decisions to survive the dynamic market.  For example, the globe strategy used to expand out of UK, and it is functional (Ullah & Ahmad 2017). All organizations operate by people making decisions. The structures of companies are in such a way that managers organize, plans and control employees by executing decisions. Effectiveness and qualities of decisions made determine the success of companies. The process of decision making is dependent on the right information from the right people (Minglei et al. 2013, p. 1886).

The decision-making process begins with problem identification. The problem is identified and defined correctly for the decision-making process to proceed. The problem has to be identified separately from the symptoms (Pike 2015). The symptoms indicate that there is a problem in the organization and the cause’s needs to be determined. When the problem is identified, the management has to identify the limiting factors involved. Symptoms such as low profits indicate poor market research. Then develop potential alternatives, analyse the alternatives and select the best of the chosen alternatives (Gima 2013, p. 263). The process then goes through the implementation of the decision made and finally a control and evaluation system is established.

Analysis of Babcock International’s approach

The planning phase analyzes internal strengths and weaknesses, external competition, the shift in the industry culture and the overall picture of the state of the organization. The phase is categorized into four components;

1. SWOT analysis. It describes the strengths, weaknesses, opportunities, and threats of the business and reveals the company’s position as per the market standards. It analyses competitors, assesses the company, identifies occurring trends in the company’s industries and researchers company’s current and prospective customers (Boateng & Karikari 2015 p 106).

2. From this analysis, the results are used to develop the marketing plan for the company.

4.Marketing program. The program is developed ones the needs of customers are identified and the services to meet these needs are determined (Peter 2010). It determines the budget needed to facilitate the implementation of the market strategy formed.

5.Set marketing and product goals. Ones the products are identified, the target market has to be determined and how the products reach the market is also set (Popesku 2014).

6.Market-Product focus and Goal Setting. The planning process determines where resources are allocated and plan to be focused action. Customers are divided into the segment to determine what technique to be used to meet their needs. For example, Babcock has marine, land, air customers. Each has different needs, and goal objectives met. There is the implementation phase, where the plan is executed to obtain results (Pasquale, Spoletini, Salehie, Cavallaro, & Nuseibeh 2016, p. 90). The phase works best if the initially planning was done well. Finally, there is the last phase called evaluation and control phase which involve ensuring the process is in line with the set goals and objectives.

Babcock International is one of the leading engineering support service providers in the UK. It has around 28,000 skilled personnel, who work together to maintain, generate and manage the organizational assets and provide the best service for their customers. A part of the personnel, there are also stakeholders involved whose main interests are in the business output. Babcock also work with external consultants to provide quality services to the customers. The company also works closely with the product manufactures as they only offer engineering services.

The Babcock international, the power lies with the management. There is a board of directors who determines most of the changes in the organization. The important decisions are made by the board of directors to give input on the way forward as they represent the interests of the stakeholders. The company also has a CEO in place to run the day to day activities. There is also a chain of management who handles different roles in the organization.

Decision making process

Organization culture refers to the climate and practices organizations establish on how they handle people. Different organization develops different cultural climates. Culture is learned. Culture defines all the learned aspects such as values, beliefs,, customs and norms. One learns an organization culture upon joining a company. Managers are encouraged to develop strong organizational culture. Organization culture is sometimes referred as the climate of the organization. Defining culture in marketing can be through identifying the underlying problems in cultural perspectives. Culture is important in enhancing the performance of the organization.

Culture plays an important role in the implementation and planning of marketing strategies. Interaction of culture and structure affects the performance and change in the organization and making it consistent with an organization marketing strategy and structure. Culture also plays an important role in developing customer orientation. It determines if the customer buys into the products or not. Marketing plan has to incorporate the culture aspect of the organization and the customers in order to be competitive in the market. Customer driven organization needs to understand and focus on customers and their needs. Organization culture also determines the relationship between the employees and the customers. It determines the extent of satisfaction and retention a customer. Culture also determines the socialization of workers with the market. For an international organization, cultural aspects such as language, religion and other social factors affect marketing strategy.

Culture makes customers to be different in every country. Cultural values have a strong influence on the product choice and motivation to a customer. The beliefs and attitudes of people affect their needs and a marketing plan needs to be identified when joining a new area. The Babcock international has expanded to different countries such as Canada and they connect with the market researchers in the countries to learn more on the market and gain a customer base and an understanding of the organization culture practiced. This applies to all the countries they are expanding to such as Brazil. Becoming insensitive to other cultures might lead failure in the global market. For effective and efficient marketing in a new environment, it is important to involve the market researchers and communicators of the region.

3.

Evaluative what this says about the effectiveness of the organizations’ approach to strategic marketing management including how plans are constructed and implemented.

Babcock marketing success depends on the strategic plan that serves as the roadmap, courting all the right clients and correctly allocating their resources and is necessary to business organizations irrespective of the size. The strategy aids in taking into account all the customers’ expectations for detailed analysis for future serves and product development. Additionally, it serves as a bridge of the gaps the exist between the boardroom and the marketers that are responsible for disseminating the organization’s message

In the current business environment, the level of competition is growing at an alarming rate, an aspect that requires the business to focus on converting prospects to closed sales whenever an opportunity arises. Hollensen (2014) denotes that it needs an effective marketing strategy that depends on the marketing platform that is suitable for the production of the company. In many cases, a company may have more than one marketing plan as a strategy to increase marketing diversity. Some of these include traditional printing adverts, networking, and digital media. Entezai, Karimi & Kianfar (2014) also asset that are planning a marketing strategy should also leave space for evaluation of successful organizing campaigns with the aim of building upon then as it adjusts on the unsuccessful strategy.

The development of a marketing plan requires specific steps that need to be followed (Karikari 2014). Hollansen (2014) denotes that before developing a strategic management marketing plan, there is a need for the determination of the exact location of the business. For instance, a company may be meeting revenue goals but is struggling to scale up or desire to move into new markets, thus needs to follow systematic steps as tracked by the Babcock organization.

Ideal customer definition is the first step of marketing strategy plan development of every organization.  Clients are always the backbone of organizations and therefore right demographics positively affect the sales of the organizations. Babcock Company has full demographic customers ranging from the national naval from the United Kingdom Canada among others created defined products and service destinations for the products and services (Fulgoni 2018, p. 9). The DSG aims at maintaining and repairing military vehicles and equipment for the British army, a move that has boosted the company’s operations. The company’s products range in broad category those are capable of serving both the private people and the state governments. The company has also established effective marketing through focusing on the areas of expertise such as on aviation, land, and defense and nuclear civil, that ensures service to only specific customers.

Establishment of the marketing goals forms the second stage of active marketing strategy development by organizations. The step requires that marketing to improve revenues by increasing the sales for a set percentage that enables the company to evaluate their success. For example, the DSG signed a ten-year contract with the British Army to foster maintenance and repair and supply of the Army vehicles, a move that affected their awareness across the United Kingdom, thus receiving other contracts from other institutions such as from the Defense School of Transport.

Effective marketing strategy requires useful marketing tools that have the capability of attracting the attention of various customers over a short period (Cravens & Piercy 2013). Marketing tools section depends on the customer or the market segment established by the organization. For example, the Babcock uses gender diversity to foster global awareness: having females training as pilots have caught the attention of many people and states across the world. Secondly launching of the various methods of training and learning such as e-learning have enabled a large number of people across the United Kingdom to register for safety courses for personal benefits (Molder 2013, p. 36).

The marketing tools always facilitate marketing strategies as pointed out by Troilo, De Luca, and Atuahene-Gima (2014). These marketing tools require a considerable amount of money for implementation to be active and therefore, the right amount of money can ensure a positive impact on a weak marketing tool and less amount of money can facilitate the failure of an excellent marketing tool. Each of the sectors; marine, aviation, land, and Cavendish nuclear have enough budgets to foster their global marketing strategies.

Babcock Group, effective marketing strategies plan, comprises of different facets that are always considered al the operational period, and these are shareholder value, reputational risk and the impact of the digital technology. The creation of the effective marketing strategy is a task belonging to the senior management personnel of the organizations such as the president, the directors among others.

Current businesses have different methods of delivering messages with the digital technology. These technological advancements have impacted the Babcock’s marketing strategies while at the same posing great danger to the company reputation. The digital era continues to offer a significant impact on the effective management of the marketing strategies by various forms of media. The company’s media such as internet platforms (Arayess & Geerts 2017, p. 529). The constant growth of internet exposes the organization into slow marketing response from the public in case of wrong information disseminated to the public. Small mistakes accidentally done by organizations during the marketing are always magnified considerably if viewed through the kaleidoscope of digital technology and social media.

These social media platforms have continued growth for the organizations marketing strategy: Instagram and Tumblr have been on the forefront platforms that aid many organizations market activities are leading to their popularity across the global market (Cowey 2017, p .111). Therefore social media popularity form of marketing for many organizations tends to endanger trust and admiration among potential customers and Babcock Group always take risks that they have the surety of managing.

Evidently, the technological advancement in the current era has a positive impact on the marketing strategy of most of the organizations in the world.  Organizations with social media handles can go forward within a short period, as the platform shave the ability of dissemination information over large area and population within a short period. By applying a variety of the social media such as Facebook into the marketing strategies, Babcock organization is capable of fostering a healthy relationship with the demographics that eventually facilitate their global development.

Shareholding value is one of the essential functions of business operations. Shareholding values function as a guide to the strategic, monetary and administrative choices that are constructed by the chief executive officers and their colleagues. Implementation of effective marketing strategy helps Babcock to derive the shareholding value that stands on its name and brand.

Troilo, De Luca, and Atuahene-Gima (2014) denote that with the happening to a key organization, the huge scale levels of various money related and mechanical divisions, and likewise the scaled-down scale level of various claim to fame units, are affected by this front line science. The key organization is basic in the material business as impressively more than some different endeavors. Babcock organization have tailored their marketing strategies to a specific audience such as defense aviation, UK Naval marine, Canadian naval marine, Global Airport and baggage handling support among others. The organizational effective marketing management ensured that all their potential customer’s needs and preferences through collecting customer’s data. The client’s data helped Babcock in building a healthy and trust relationship with various customers across the world.

Babcock Group has successfully implemented the strategic marketing tools in various aspects such as through the internal marketing and external marketing (Junghum, Eun-A & Hayea 2016, p.289). The implementation has captured both the environmental and ethics, people and potential and profit and performance.  People and potential implementation plans focus on developing diverse talents that are progressive to inspire people to other next generation of engineers that eventually become valuable to the company and the community (LoFrisco 2012). The environmental and ethics implementation plan ensures that Babcock is committed to the set standards that underpin the behavior of the organization towards customers, providing maximum satisfaction in all aspects such as product, service, sustainable environment, and work ethics. The profit and performance implementation plan ensures that Babcock makes investments that have a long-term relationship with suppliers and customers to offer a stable flow of revenues.

An effective marketing strategy ensures that the organizations attain a long-term relationship with potential customers as their needs are met, and concerns positively responded (Shang & Wang 2018, p. 78). Once your business is operational, you’ll need to assess and adjust your displaying framework from time to time to speak to changing monetary circumstances, moves looked for after, and changed factors that influence your arrangements, on account of your measurable studying activities and execution of your business.

The increasing number of global business calls for the intense attention of effective marketing strategies to remain relevant into the market. These marketing strategies should follow defined structures during creation to offer maximum positive effect to the organizations. The development of the marketing strategy entails the determination of the customer, determination of the marketing tools and the budgeting for the marketing strategies. Marketing strategies and tools include salespersons, televisions postal letters, sales emails, phone calls among many others. Proper marketing tool ensures that the designed message reaches the targeted market segment and allows the marketing department to control the responses from the customers. Babcock Group success lies on the effectiveness of the marketing tools applied such as the social media and state conferences among the United Kingdom regions. Like a technique for progress, marketing strategies can be fluid, changing not surprisingly to upgrade your results.

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