Please discuss how marketing strategy fits within the larger framework of business strategy. Use Proctor and Gamble as an example of a company that successfully integrates marketing strategy into its overall business strategy, mission and vision.
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Marketing is an essential action that envelops the total business, and is fundamentally significant to sound company strength. It is screening the whole business from the consumer's point of view taking into account each facet of the marketing mix: products and pricing, circulation channels and marketing interactions. All these features contour the consumer's response to products. (Kotler & Keller, 2009)
A marketing plan is vital to the success of a company in promoting a products effectiveness and successfulness, and in making a company aware of their target market. Once a target market has been achieved, the use of strategies and tactics influence consumer's loyalty to avoid a company's competitors. (Kotler & Keller, 2009)
A marketing plan is a fundamental tool used in coordinating and directing the marketing endeavor by operating both on a strategic and tactical level. (Kotler & Keller, 2009)
Marketing Strategy: an example of success
Procter & Gamble (P&G) a global leader in the industry, conducts marketing research prior to launching their products, and uses this research in deciding their tactics regarding their marketing plan and strategies. Based on the research, the marketing plan is revamped to meet the needs of the consumers. (www.pg.com, 2009)
P &G's marketing plan was revised when determining the need and marketability ...
The expert examines larger marketing strategy for Proctor and Gamble.