Marketing is a lot like religion and most people have a strong belief that this belief is typically predicted on how they were raised rather than a formal study of religion belief. Marketing also has its share of agnostics as well as atheists – “I don’t believe Marketing exists”. Regardless of how marketing is viewed today, few questions are come up: Which can survive without the other? This is a litmus test in many situations and all believe it is fair to say that any business cannot survive without a proper marketing strategy. (Wardlaw, 2007)
As there is rapid, real changes are taking places throughout the world politically, economically, socially and technologically, coupled by fierce competition, the business finds it very difficult to compete sensibly for customers in the dynamic market place. (Kotler, 2006) Marketing strategy plays an important role to shape the overall business goals. It includes the business, a description of the product and services, profile of the target users or clients and moreover defines company’s role in to the competition. In today’s era, the customer’s tastes and needs for the quality products and services and value for money cannot be neglected as it has become a challenge for business to satisfy and fulfil each and every customer’s needs. (Ward, 2000) The other challenges which the business can face are the different marketing channels such as television, internet, newspaper, advertisements which lead them to restructure their products and services according to the needs to the customers or clients. Marketing and customer orientation has become primary area of concern for the businesses and organisations are now trying to reorganise and restructure themselves so that they could implement these marketing and customer oriented practices precisely. (Wardlaw, 2007)
Every management guru believes that marketing is the brain of every business and to run a business one should have a good marketing strategy. In today’s competitive world, businesses are very different from those in the past and now they are very aggressive to get success. (Geisheker, 2008) In this competitive market, a well developed marketing strategy is very important to develop the products, services and more important to know about the market. Marketing research has helped the companies to identify the target market, the customer’s requirements and about the competitors while the market planning helps the company to take necessary actions to achieve to marketing objectives. If a company fails to develop a proper marketing strategy than it is hard for the company to develop itself in the market as it is not able to achieve its marketing objectives. The marketing strategy as whole includes the marketing research, business plan, and budget, pricing strategy, target market, competitor’s analysis and customers. So, if the business fails it means it fails to implement all these elements. So, the companies must have a precise approach when developing and implement the marketing strategy. (Porter, 2006)
From the perspective of marketing strategy it is clear that the boom in the automobile industry begun in 1994 and has been characterised by intensification of competition between the automobile companies in different part of the world. Subsequent analysis and the studies have shown the importance in understanding the market and customer commitment, adaptation, power, conflicts and expectations. (Paliwoda, 1991) The automobile industry has seen a lot of ups and downs in its vast history. During the two world wars, the depression era and then the globalisation many independent and smaller automobile companies had been disappeared. The companies which had come up with strong marketing strategies were able to survive. (Layman, 1989) As the years passed the era of the globalisation had begun and there was competition to be the best in the market and only those...