Marketing Strategy Within the Larger Framework of Business Strategy

Marketing strategy within the larger framework of business strategy

Development of a business strategy ensures that the business maintains profitability through sustained revenue flows. Profitability is business strategy’s primary objective and is supported by the management team, the mission, the organizational structure, the staffing policy and the capital structure. The business strategy is more importantly supported by its marketing strategy where marketing goals are combined into a single planning framework. Product development, making and selling are supported by the marketing strategy plan which more specifically involves development, placing, pricing and decisions on promotion. This is identification of the specific segment of the society with needs that match a particular product or the service, coming up with a product that match those needs of the targeted group, deciding on the product price that match with the marketing goals, determining the appropriate distribution channels and communicating the products or service to the target group (Hess & Coe, 2006).

It is important for a marketing strategy of the business to align with the business strategy if the company is to remain competitive. Organizations set or establish missions with the highest likelihood of success in a competitive market environment. The mission defines the basic service or product, primary market and the means to deliver the product or service to the market. In other words, it recognises the match between the business and what the customer wants and a marketing strategy need to respond to this. Apple Inc. has a commitment to bring the best personal computing experience to creative professionals, educators, students and consumers at global level through its internet offerings and innovative hardware and software (Johnson et al, 2012).

Apple Inc. business strategy leverages its unique ability to develop and design its own hand ware, software and operating system that offers the...