Marketing and Strategy

Question: Write a report on marketing and strategy. Answer: The model proposed by Henry Mintzberg is a metaphor of sorts, taking into account of a launching device, representing a company that sends projectiles, especially products as well as services towards the landscape of targets, meaning markets, confronted with the rivals in the hope of attaining the fit. Therefore, following the Mintzbergs model, it can be stated that traditionally the relationship in between strategy formulation, strategy implementation and performance of the organization used to depict differently. In this model, the companies begin strategy specifying their missions, goals and objectives and after that they engage in SWOT Analysis to select proper strategies (Wheeler 2012). Cornelissen (2014) has stated that the phrase virtual association is used to demonstrate a system of the self-governing corporations that unite together for producing any product and service. It can be stated that virtual organizations are often connected with such conditions like practical workplace, virtual teams as well as the virtual leadership. However, it is required to mention that the goals of the virtual organizations are to supply innovative and elevated quality services and products immediately is retort to the demands of the customers. These features often insist the companies to become virtual organizations. Therefore, it can be stated that an organization become virtual when the employees of the organization are geographically apart, linked through e-mail. It can be stated that at the time of launching a new product in the target market, it is necessary to prepare a thorough evaluation of the market condition before launching the product in the market. After that, the second step is the appropriate way to plan a lunch. After that, it is necessary to focus on successful execution of a product launch and final stage in this case is focusing on the things in order to keep in mind the situation of the post-launch condition. Social media is one of the most important platforms now a day, as this helps the companies to reach a wide section of population in a short time and effective manner. The companies might use social media to leverage as well as support an in-person launch event and this is one of the effective ways to promote the final products and services to the target market. Apart from that, it can be stated that the social media is effective enough in letting the customers create the new products and thus using the social media to l aunch the products in the target market is highly important (Abraham 2012). Gregor and Hevner (2013) have stated that bundling takes place in several businesses as well as product settings. It can be seen that the Electronic retailers most of the times bundle hardware along with software and accessories. For example, it can be stated that a person at the time of buying a computer might get a bundle deal with the printers, cables, monitor and the antivirus software. In construction industry, bundle strategies are seen, for example, when a buyer buys a home, decoration and some other furnishing facilities are provided additionally. On the other hand, product development strategy helps any of the organizations to stay ahead of the competitive market and gain high market attention. In Iraq, terrorism is one of the biggest threats that leave impact in different parts of the lives. Businesses are affected largely by terrorism and construction industry is no more exception in this case. It can be stated that the construction companies are the major engines that drive the economic condition of the nation and thus there must not exist any barriers in case of mobility (Souto-Otero et al. 2013). It has been observed that training is one of the effective tools for enhancing the performance and efficiency of the construction workforce and the mobility barriers in Iraq hampers the entire process. However, in case of Turkish, it can be stated that the economic stability is comparatively better than Iraq and thus the barriers are less here. It can be seen that there exist long-standing interest in the entry behavior of the firms and its determinants, but sometimes the government rules and regulations hamper the entry of the firms in Turkey. Iraq faces a number of transitio ns, one from the state dominated economy with extensive regulation, distortions as well as barriers to the competition along with the labor mobility (Souto-Otero et al. 2013). Therefore, it can be stated that due to mobility barriers in case of labors, Iraq face lot of issues in the construction industry. Strategic fit means aligning the supply chain strategy with competitive strategy and if an organization is able enough to follow this part, it can be stated that the company is able to achieve strategic fit. Therefore, it can be stated that to sustain in the long-run, it is required to achieve strategic fit for all the organizations. Lindow (2013) has stated that in order to achieve the strategic fit, the organizations are required to build a competitive strategy in order to particularly target a set of customer segments and build strategies for satisfying the needs and the preferences of those particular customer segment (Unger et al. 2012). Therefore, in a nutshell, it can be opined that if any company wants to achieve strategic fit as well as sustainability, it is required for the organization to clearly understand the needs and the priorities of the targeted customers along with their uncertainty in demand (Lindow 2013). New product strategy, unique marketing strategy and supply chain strategy are the three major mechanisms that help any of the organizations to secure sustainability of a fit. Figure 1: Achieving secure strategic fit It can be stated that maintaining good relationship and the long term contacts with the clients, especially the governments is considered as the fortifying strategy for any construction company. This might cause some severe risks to the company, it is terms and the policies are not monitored on a regular basis. The client might stick to the old terms and conditions and this might hamper the company (Souto-Otero et al. 2013). Wigand et al. (2012) have stated that environmental scanning is the attainment as well as use of data regarding events, trends as well as relationship in the companys external environment, the knowledge of which would assist the management. Therefore, lack on environmental scanning capability would hamper the development procedure of effective responses that secure as well as enhance their position in the future (Unger et al. 2012). The best strategy of Minztberg is the 5Ps strategy and these are Plan, Ploy, Pattern, position and perspective. This model has successfully demonstrated the model and it can be stated that by understanding each P, one can build up a vigorous business approach that takes full benefit of the companys potencies and potentialities. Researching the variables of model deeply helps in developing a novel strategy that would be useful in most of the real life scenarios (Gabrielsson et al. 2012). 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