Marketing Strategy

According to Moore and Pareek (2009), marketing is one of the important functions of any business besides other functions such as R&D, Finance, IT, Operation, Production, and Human Resource (HR). Function of marketing in organizations is directly related with attraction and retention of customers in comparison of other functions that focus on managing internal matters of organizations.

To develop the marketing function effectively, firms choose appropriate marketing strategies. Role of marketing strategies is important for organizations. According to Silk (2006), marketing strategies can be divided into two parts such as selection of an appropriate segmentation, targeting, positioning, and selection of a suitable marketing mix (product, price, place and promotion). In both marketing and marketing strategies, role of advertisement is very critical as advertisement is one of the important tools among other tools such as sales promotion, marketing research, distribution and pricing of marketing.

According to Slater, Hult and Oslan (2010), marketing strategies are the combination of marketing mix, positioning, targeting and segmentation that helps the organization to create competitive advantages from the international market. With the help of effective marketing strategy, organization can attract the customers for the products and services.

In the research study, researchers also argued that marketing strategies plays an effective role in the organization to face various resources and utilize different opportunities. At the same time Rosier, Morgan and Cadogan (2010) has supported the argument of Slater, Hult and Oslan (2010) that marketing strategy starts with a detailed and creative assessment of organization’s capabilities in order to achieve organizational goals. In the research, researchers argued that marketing strategies helps the organization to increase in strengths in order to increase in competition in international market.