MARKETING STRATEGY AND EVAULATING
THE CONTEMPORARY CHALLENGE IN
MARKETING EFFECTIVNESS: A case study of Tikur Abay Transport Share Company
A senior essay submitted to St. Mary’s University College in partial fulfillment of the requirements for the degree of
Management in Distance Education Division
1. Back ground
In present competitive world and business environment things would not move in a steady way and as planned. As a result for the past few years every organization and company follows the pattern of strategic planning process. In most of business organization, besides creating strategic or business plan, it will be essential to develop and implement marketing strategy of the product or service. Even the company has a smart marketing document, it is not uncommon to face some problems and challenges on the processes of implementation which in turn jeopardize the effectiveness of marketing.
On this regard the study of this paper mainly aims to review some of the theory on strategic process of marketing and evaluating the effectiveness of marketing. To make the study more practical a case study of Tikur Abay Transport would be taken. Some of the theory revealed that organizations that engaged in strategic management generally outperform those that do not. The attainment of an appropriate match or “fit” between an organization’s environment and its strategy, structure, and processes has positive effects on the organization’s performance. For example, a study of the impact of deregulation on U.S. railroads found that railroads that changed their strategy as their environment changed outperformed those that did not change their strategy. (Hunger & Wheelen, 2003:4).
On making the above highlight when we come to marketing activities, at present successful companies whether large or small, for profit or not- for- profit, domestic or global- share a strong customer focus and a heavy commitment to marketing. Many people think of marketing as only selling or advertising. But marketing combines many deactivates- marketing research, product development, distribution, pricing, advertising, personal selling, and others-designed to sense, serve, and satisfy consumer needs while meeting the organization’s goals. The goal of marketing is to build and manage profitable customer relationships. Marketing seeks to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. Marketing operates with in a dynamic global environment. Rapid changes can quickly make yesterday’s winning strategies obsolete.
Today smart marketers of all kinds are taking advantage of new opportunities for connecting with their customers their marketing partners, and the world around them. The old marketing thinking saw marketing as little more than selling or advertising. It viewed marketing as customer acquisition rather than customer care. It emphasizes trying to make a profit on each sale rather than trying to profit by managing customer lifetime value. And it is concerned with trying to sell products rather than to understand, create, communicate and deliver real value to customers.
Fortunately, this old marketing thinking is now giving way to newer way of thinking. Modern marketing companies are improving their customer knowledge and customer connections. They are targeting profitable customers, and then finding innovative ways to capture and keep these customers. They are forming more direct connections with customers and building lasting customer relationships. (Kotler, 2004: 33-34)
Today, consumers have more product choices than ever before. They also have more information about the choices. The combination of more competition (from small niche marketers to large dominant category killers such as Toy’s “R” US) and a bombardment of communication from the many...
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