Final Marketing Plan and Presentation

Competitive analysis of the organization

It is important for any organization to thrive and succeed in their business markets. It is also vital for these particular firms to develop the need to analyze their competitor’s needs and strategies. Understanding competitor analysis however is important in ascertaining marketing planning strategies and processes. Strong competitors perhaps can hinder best performances of the firm and its general success, and at an advanced stages, it can lead to total failures. Competitive analysis however enables firms to anticipate their close competitor’s actions and that can enable the organization to exploit competitor’s weaknesses. The strategy also enables firms to identify their most unique selling points. The identification of the selling points however can be strengthened trough marketing campaigns. Competitive analysis however enables and aids successful competitors to continuously develop their best marketing strategies in acute response to the changes in the market place.

Based on porter’s five competitive forces, these strategies were developed basically as a framework for assessing and evaluating the business competitive strength and the firm’s business position. This strategy believes in the notion that five forces exist that determines the competitiveness and attractiveness of the market. It also identifies greatly where power lies in a business situation. Porter’s specifications are therefore important in realizing the strengths of the organization current competitive position, and it also predicts the organizational strength in the future. The forces however can be used by strategic analysts at advanced stages to realize if new products or services that prevail in the business environment are potentially profitable.

They can also use it to ascertain the areas that posses more strength, this will help in improving weaknesses and helps to avoid mistakes.

Porters five forces of competitive positions

Supplier power is the certainty of how suppliers make it easy to drive and raise prices. Normally, supplier power is driven by the number of suppliers for each particular input, the available of their products and services, the strengths supplier posses and the relative cost of switching from one particular supplier to the other. Suppliers posses power when: there are very few suppliers of a particular product, when substitute don’t exist, when the product is extremely important to the potential buyer who cannot do without it and also the degree of differentiation of inputs

Buyer power.Buyer’s posses the potential of lowering prices. This is normally ascertained by the number of buyers existing in the market. It is also related to the individual buyer to the organization. Cost of the buyer that determines the switching from one supplier to the other is also determining factor. Business with few buyers is not productive simply because they often dictate business terms to potential buyers.

Competitive rivalry. For a business to prosper in any given modern society there should be a number and capable competitors in the market. Many competitors however who offer undifferentiated products and services will definitely tend to reduce market attractiveness.

Treat of substitution. Existence of substitute goods and services in the market place may make buyers to develop the mind of switching to alternative responses due to price increases. Buyers at this particular point may prefer lower prices to the higher one. This strategy reduces the supplier power and also market attractiveness will be lower

Treat of new entry. Existence of profitable markets entices and attracts new suppliers. Due to the existence of strong business ethics that governs this site, such as strong and durable barriers to entry, e.g. economies of scale government policies and the capital requirement, could perhaps decline profitability to a competitive rate. There are factors that limit the treat of new entrants also known as barriers to entry. These are high fixed costs, top government restrictions, scarcity of resources, brand equity, capital requirements and also economies of product differences.

Target market refers basically to the potential customers organization who wishes to offer its products and service to, and to particularly whom it directs its marketing effort. In developing marketing plan, it is essential to develop target market. Samsung Company for instance finds its more potential to supply its products because it has more markets than any other company.

Samsung company for instance posses the need that drives purchase. Firm’s posses the inner drive that transform into more globalised and integrated standardized firms. They also have the need to extend performance improvement by simply extending the use of best standard best practices and offered solutions across the companies’ local operations.

Samsung Company is an organization that is diverse and it produces variety of products to its available consumers. Their products are of high quality and thus fetching more markets globally. Its major concern in production is electronics e.g. mobile phones, televisions and radios.

The effective products that the industry and the market sector target attain and meet the basic needs of the individual. This is because the electronics that Samsung company produces posses massive increase in speed and the effectiveness of communication, multitasking, research and access to information.

Nokia Company is a primary competitor of Samsung because of their smart-phone sales. Nokia however does not surpass Samsung, but majority of consumers use their products. Actually, all of the Android smart-phones are competitors to Samsung .Due to this trends of competition, Samsung have been forced to come up with new ideas to keep their electronics sales high.

The organization is different from its competition trough the price it offers to its commodities. The prices should be affordable and easily available to its buyers. This will also enable beat the competition pricing on the front line products and services. The added value services such as the free shipping, buy one get one sales are also the common incentives.

Convenience of the products by consumers is also a necessity that differentiates one firm from the other. This can be carried out by use of online shopping. Customers also need a firm that have absolute trust and produces viable products.

References

1. Robinson, E A. G. The Structure of Competitive Industry. Chicago: University of Chicago Press, 1959. Print.

2. Wright, Martyn. Managing Competitive Crisis: Strategic Choice and the Reform of Workrules. Cambridge, U.K: Cambridge University Press, 2000. Print.

3. Whitley, Richard. Business Systems and Organizational Capabilities: The Institutional Structuring of Competitive Competences. Oxford: Oxford University Press, 2007. Print.

4. Competitive Regional Clusters: National Policy Approaches. OECD Publishing, 2007. Print.