Unit 2 Marketing Mix Strategy Assignment

Unit 2 Marketing Mix Strategy Assignment

Unit 2 Marketing Mix Strategy Assignment

Program

Diploma in Business

Unit Number and Title

Unit 2 Marketing Mix Strategy

QFC Level

Level 5

Introduction

The marketing mix strategy has been developed over different concepts and theories related to the marketing strategy. Situational analysis has been drawn over the organisation through SWOT and PESTLE analysis. The impact of the business environment upon the business and the internal factors influences are discussed through these analyses. SMART analysis along with STP and USP are conducted for analysing the segmentation, target and positioning strategy and competitive advantage within the business environment. Based on marketing mix over the chosen brand the marketing strategies are defined along with objectives and goals.

Part 1

Situational Analysis

SWOT analysis: The SWOT analysis has been needed for understanding the internal as well as external factors which are impactful on the business operation and marketing strategies. The SWOT analysis helps the organisation to uncover the opportunities within the market. By understanding, the current weakness within the organisational functions the business can evaluate their marketing strategies or develop enhanced strategies. (Blythe, and Megicks, 2010). The strengths within internal functions of the organisations are also analysed through this SWOT analysis. On having better conception over the strengths the organisation make proper strategies to attain the opportunities and decrease the impacts of the threats on the business. It is also effective in distinguishing own self from the rivals in the similar market. Google has been known as the best pioneering search engine organisation. There are different strengths and weakness within the organisation as well as opportunities and threats within the external organisation.

Strength:

  • Market leadership: Within the search engine business Google has placed itself in the leadership position. The organisation has been obtain a large market share worldwide as a search engine. It has more than 65% market share in the current scenario. (Mitchell, Wooliscroft, and Higham, 2010)
  • User traffic: The organisation has the ability generate higher user traffic which is also a potential feature to have larger market share. Over 1.2 billion traffic is generated over a month in Google.
  • Feasibility: The organisation has been providing feasible user interface to the users, which is also attracting the customers towards Google than other search engines. The flexibility in the usages is also attracting the customers. (Mitchell, Wooliscroft, and Higham, 2010)
  • Revenue from promotions: The partnerships with other business have been generating more revenues. This is the financial strength of Google.
  • Customer relationships: Modern technologies and communications has been improving the customer relationships with Google. (Kapferer,  2012)
  • Competencies: The HRM concepts or personnel in Google has enhanced skills and are encouraged by the organisation to improve their knowledge through continuous learning. This is the main strength of Google. (Mitchell, Wooliscroft, and Higham, 2010)
  • Culture: The culture of the organisation is also the strength for the success of the organisation. The positive environment and employee relations impose as strength for the organisation.

Weakness:

  • Over dependency on ads: Over dependency on the advertisements are acting as the weakness as these are negatively affecting in the revenue generation. 85% of the revenues of Google are generated from the advertisements. (Kapferer,  2012) Fluctuations within the advertisements can impacts negatively over the revenue generation.
  • Lack in compatibility: lack of compatibility in current mobile devices is imposing as the weakness in the skills of Google. This has been an area of concern for the personnel of Google.
  • Opportunities: Introduction of android: the android system has been introduced within the market which is giving the user interface facilities for Google apps and search engines. The increasing usages of the android phones are also helpful to increase the customer base. (Kapferer,  2012)
  • Cloud computing: It is the key opportunity for Google. The Google can offer better storage options to the customers. the customers can be offered with improved features within using the apps of Google and having storage facilities in Cloud.
  • Technology revolution: Increasing technological innovations are imposing greater opportunities for Google to place their presence in wider market with more improved steps and apps.
  • Increasing use of blogs: The increasing use of blogs and numbers of bloggers are also an important opportunity for the Google blog. Through this feature, the Google has been approaching individuals as well as a wide business market. (Berthon, Pitt, Plangger, and Shapiro, 2012)

Threats:

  • Enhanced competition: The competition with Facebook, Twitter, Wordpress, Mozilla etc are imposing threats for the organisation.
  • Mobile computing: Increasing mobile computing is also having a wide market share which has been impacting over the Google business model. (Berthon, Pitt, Plangger, and Shapiro, 2012)
  • Security threats: Increasing incidents of hacking and malware threats are negatively impacting over the brand image of Google. The malware threats through pop-ups are preventing the users to use Google search engine.

PESTLE analysis:

Through PESTLE analysis the insights of the external factors within the business event management can be obtained. The dimensions of PESTLE analysis:

  • Political: The activities of the government are concerned within the PESTLE analysis of Google. the activities of the government and their impacts on the operations of Google such as privacy policies, search engine operations, business functions etc. globalisation, climate within the political environment of the country, government laws on the online business etc are concerned by Google. The globalisation has been increasing the online advertisements as a result the Google has been generating more revenues. Stable conditions within the politics are important for doing business. (Wilson, Zeithaml,  Bitner,  and Gremler, 2012) Government's control over large online firms in china has been creating hurdles for Google to do business.
  • Economic: Economic changes and their impacts over the Google business has been concerned factor for Google. Economic stability within the market pose opportunity to the Google. Rapid growth of the countries provides proper market business structure for business growth. The Google has been using the opportunities for the global expansion and business strategy development.
  • Social factors: Social or socio-cultural factors within the business environment impose greater impacts for business. The increasing use of the social media among the young generation has been concerned as threats for revenue generation of Google. It is also imposing threats in the business partnership with advertising agency. The increasing dependency of the users on the online search engines is imposing better opportunities to Google.
  • Technologies: Technological factors impact over Google business with intense measures. The revolution of the technologies and their usages among the competitors are concerned for the Google.  The increasing usages of the internet functions within the growing countries are useful for business growth of Google. The smart phone technologies and usages among mass people have been posing opportunities for Google. (Allen, O'toole, Harris, and McDonnell, 2012)
  • Environmental factors: Global concern for the environment has been influencing the business operations of different organisations. Environment friendly footsteps of Google have been concerned as the strength on doing business. (Wilson, Zeithaml,  Bitner,  and Gremler, 2012)
  • Legal factors: The laws and regulations of the government have been influencing the business and operations of Google in different countries. As the organisation has been doing business. Online privacy, intellectual property rights, different fiscal and monitory policies of the government has been followed by Google to do sustainable business.

Contact us

Get assignment help from full time dedicated experts of Locus assignments.

Call us: +44 – 7497 786 317
Email: support@locusassignments.com
 
BTEC HND Assignment Experts

Competitive advantage (USP)

In order to have success and survive within the current competitive e market organisations try to make better approach. These approaches are used by the organisation as their key features in gaining advantages in the market competition and having better or leading position within the market. Competitive strategy is the main path which has been conducted by organisations in order to gain the desired position in competition. (Morgan, Katsikeas, and Vorhies, 2012.) Within this strategy there are different procedures such as differentiation focus, focus on cost, differentiation, cost leadership etc. Differentiation within the competitive strategy has been taken by the organisation to gain the customer attention towards the services or the product which is later helpful to gain the cost leadership in the market. cost leadership is also helpful to provide better service quality. 

  • USP: USP or Unique Selling Proposition is used as a strategy within the competitive strategy. USP is the feature of the services or the product, which makes the product unique within the mass product market. These features makes the product valuable to the customers. The unique selling proposition or USP is often the decisive reason for which a customer takes interest within a specific product of a specific company than comparable services or product having similar characteristics of other companies. it can be thought as the unique benefits to the purchasers of the product. It makes the organisation unique within the marketplace. The uniqueness of the brand will make the customers choose the brand over the competitors. (Wilson, Zeithaml,  Bitner,  and Gremler, 2012)
  • USP of Google: The USP strategy of Google consists of giving the correct information to the customers. The customers of Google have proper information which they are searching without redirecting them to other sites or making them search within thousands of websites. The information is also quality information provided by search engine Google. Google's unique selling proportion is based on the understanding of the relationship between the web content and the users of Google. (Wilson, Zeithaml,  Bitner,  and Gremler, 2012) The interface used by Google has been providing better connection within the two without depending on the purpose of the search such as targeted advertising, etc. This feature of Google makes its customers use the search engine over its competitors. It is also helping the organisation to maintain its huge customer base and satisfy their requirements.

Evaluation of current marketing strategy:

Marketing objectives and goals: The marketing strategy of Google is related to the engagement of the potential and loyal customers to the organisations. The mission statement of Google is to make the information of world accessible to the universe and make them useful. Google put their customers' needs in the first priority within marketing strategy. The organisation beliefs that consideration of the customer's or user's needs is the best or most profitable way to accomplish their defined mission statements. (Allen, O'toole, Harris, and McDonnell, 2012) Strong traffic growth and strong promotion through word of mouth has been the result of their high customer experience. The mission statement of Google has been related to:

  • focus over the users and rest will follow
  • making money in honest way without doing anything evil
  • Doing one thing with greater effort and really well. (Morgan, Katsikeas, and Vorhies, 2012.)

Google has taken their objectives to provide the relevant and useful advertisements without making any interruption. The mission statement also includes to increase the current sales of the organisation by increasing the value within the customer relationship. In this regard the organisation has been flowing all governmental policies and human rights over privacy act. (Armstrong, Kotler, Harker, and Brennan, 2012)

Strategies: through the marketing strategies Google has been increasing the brand awareness within the mass market and expanding in foreign premises. Through the marketing strategies the organisation has been placing stronger relations with the customers and provides proper messages to the customers about the organisation and its activities. Google has started the business with fewer intelligence rules. (Allen, O'toole, Harris, and McDonnell, 2012) Through the appropriate marketing strategy the organisation has been growing their business.

The online activities: Google make marketing through different online methods such as through YouTube, bloggers etc. these are effective as these are used in greater amount. Through Google Page Google logo has been used as the promotional symbol. (Armstrong, Kotler, Harker, and Brennan, 2012) Google also making their promotions through the you tube with video and different offers of Google apps. Google has been providing easier interface, which has been attracting, all types of customers.

Word of mouth: Google mainly beliefs over the word of mouth strategy. As the services provided by Google has been based on premium quality which satisfy the users in their experience of using Google. (Foxall, 2014) This leads to the word of mouth by the users. The premium storage facilities, mail interface, quality content and search results etc are making the customers to make promotions of the Google. Google make proper understanding what the customers are wanting and satisfy them by giving accurate content without any confusion. Through this way the users are convinced to use the search engine again.

Brand image: The long standing popularity of Google is also another strategy in their marketing. This is providing facilities for which reason the organisation is doing any direct brand marketing. Google has been providing better platform for the users in B2B market to make proper promotions. This is also a important aspects in the market image of Google. (Foxall, 2014)

Part 2

Segmentation Targeting & Positioning (STP):

Segmentation: In every business the wide size of market is needed to be divided within the smaller divisions. These smaller segments are referred as the segmentation. Segmentation of the wide market has been done by dividing the market based on certain characteristics like behavioural segmentation, geographical segmentation, demographic segmentation, psychological segmentation. The wide market has been divided with proper segmentation strategy for understanding the current needs within the customers and users. (Perreault Cannon, and McCarthy,  2013) In order to segment the market organisation chose the preferences of the customer on buying and using that product.

Google's segmentation: Google segment their market by depending on the users' expectation on using the search engine. Behavioural segmentation can be done by Google by analysing the current expectations of the customers while using the search engine. The users are not only analysed across different countries. The users level segmentation has been used by Google. The user behaviours are analysed over their search content and the session is the search is also used for analysing the behaviours. (Slater, Hult, and Olson, 2010) Depending on the behaviours of the users the segmentation is done. Google make changes on their interface and different apps by making analysing of the behaviours of the users.

Targeting: Through proper targeting strategy the product has been placed within the market in different ways. After segmentations the targeting is done within marketing strategy. Through segmentation a certain type of buyer has been chosen. Targeting is used to place the product for the segmented market and its customers. In order to target the market the preferences of the customers are analysed with efficient manner. (Perreault Cannon, and McCarthy,  2013)

Target strategy of Google: After segmenting the market the targeting is done with efficiency. The customers who are connected with the internet in their daily lives, should be targeted by Google. The users who preferred to use Google for their educational purpose and other purpose can be targeted. The users who are using the internet for their working purpose can be targeted. Apart from this Google can also target the B2B market as they are providing mailing facilities through their Gmail services. The business organisations can be facilities through providing better facilities in the Gmail operations. (Perreault Cannon, and McCarthy,  2013)

Positing of the product: The positing of any product is done for making the product's availability to the customers. The brand image has been placed within the market and in the intellect of the customers through the positioning processes. Within the marketing strategy the position has been used by the organisation in order to make the brand to inhabit a distinguishing position in the market of competition. The customers are convinced to use the product through proper positioning strategy. Google can use competitive direct position in order to maintain their leading position within the market. (Slater, Hult, and Olson, 2010)

Recommended objectives and goals (SMART)

Objectives and goals: The objectives and the goals are the main part upon which the entire strategy has been based. The goals are the purpose which are defined within the development of the strategies in relation with the organisational goals. The goals are defined on the overall result. the objectives are the purpose which are defined on the actions or units of strategies which are designed to achieve the goals. (Solomon, 2014)

SMART framework: In order to develop proper objectives and goals and making them relate to the strategies the SMART framework has been used. Through the parameters the goals and objectives of the strategies are developed towards the achievements. (Solomon, 2014)Through the SMART tool the organisation tends to define their goals in the strategies and in implementation. The evaluation of the result of the strategic activities is also done by using SMART parameters. In the future goal setting the SMART framework is helpful to the organisations.

Specific: The objectives and goals of the marketing strategies of Google should be specific. Through specific goal measurements of the results and the objectives are also done through the six questions like who are involved, what is the accomplishment criteria, where is the activity conducted, when the accomplishment will be done, which are the requirements, and why or the purpose for achievements etc. Google can specific the marketing goals through these six questions. (Slater, Hult, and Olson, 2010)

Measurable: The measurements of the progress can be done observed through the attainment attributes of the goals such as the quantitative and qualitative measures. The goals of Google should be developed over the measurable attributes so that the strategies can be measured upon the goals.

Actionable: The goals must be achievable and actionable. The actionable goals of Google should be based on the improvements of the organisational skills. The goals of Google should be achievable by improving the current skills and competencies. The corporate objectives are also needed to be implemented within the strategic goals. (Slater, Hult, and Olson, 2010)

Time bound: Time scale is the important in the measurements of the goals. The measurements of the time should be set over the all over goals achievements and the achievements of units of objectives. By setting the time framework the goals and their achievements can be observed.

  • By using the SMART goal framework the objective of the marketing strategy of Google can be developed:
  • Acquisition objectives: Acquisition of different online search engines and social media can be useful for increasing the profit margin. (Slater, Hult, and Olson, 2010)
  • Organisational objectives: The growth of the current skills should be done to adopt the current marketing trends within internet activities.

Recommend marketing strategies, based on the application of the marketing mix:

Marketing mix has been the major part within the marketing strategies. By analysing the marketing mix Google can have better understanding over the over development criteria of the marketing strategy. (Slater, Hult, and Olson, 2010)

Product: With different array of products, Google has been doing the business. Through the diversity of the products the organisation has been making different approaches within the market. These are:

  • operating system
  • web based products
  • mobile apps
  • desktop apps
  • services in internet
  • hardware devices(Lamberti, and Noci, 2010)

Through the diverse product the organisation has been making different approaches within the market. Through mobile apps and mobile devices the organisation has been approaching the smart phone trends within the market and making  proper approaches in attracting the market segment of all young generations. (Lamberti, and Noci, 2010) The apps like Google maps and gmail are being used widely by every consumers who are related to both B2B and B2C market. Through innovative product development the organisation has been gaining the market share.

Place: Through online measures the organisation has been distributing the products and services. The products availability around the world has been making the products convenient to the customers. (Lamberti, and Noci, 2010) Through the apps and internet the organisation is providing their services to the customers in anytime and anywhere.

Promotions: The promotional activities are indirectly done by Google. As the brand has gained a worldwide reputation it has been using the word of mouth promotional measures. Apart from these, different products like Google Play, Gmail etc are generally promoted through the you tube and other subsidiaries.  (Lamberti, and Noci, 2010)

Price: There are different pricing strategy which has been used by Google. The different pricing strategy like freemium is used by Google to gain the popularity of the search engine. The users of the search engine has been using the products without any price and using the internet. Apart from these market orientation pricing, penetration pricing, value based pricing etc are used. (Kotler, and Armstrong, 2010)

Recommendation on marketing strategies:

  • Branding: the organisation can use branding strategies for the reputation of the products. With differentiation strategy such as extra features in the search engine or Google play can be used by Google to attract more users towards the apps. Creative designs within the apps are also can be used for the branding.
  • Advertisements: Advertisements on the T.V. and magazines upon the flexibility in the usages of the Google map can be done for promotions.
  • E-marketing campaigns: By approaching different social media the online marketing campaigns can be done by Google.

Contact us

Get assignment help from full time dedicated experts of Locus assignments.

Call us: +44 – 7497 786 317
Email: support@locusassignments.com
 
BTEC HND Assignment Experts

Conclusion

Marketing strategies are significant for success of the business within current high market competition. Through the marketing strategies, the market has been essential for the achievements of goals and objectives of the organisations. Through marketing research the organisation can be able to obtain the understanding of the current market scenario as well as the competitive scale of the market. Marketing strategy has been conducted through the market mix tools. The uniqueness of the product must be interacted to the customers through the USP strategy in order to convince them and increase the customer base as well as brand loyalty.

Reference 

Allen, J., O'toole, W., Harris, R. and McDonnell, I., 2012. Festival and Special Event Management, Google eBook. John Wiley & Sons.
Berthon, P.R., Pitt, L.F., Plangger, K. and Shapiro, D., 2012. Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy. Business horizons, 55(3), pp.261-271.
Blythe, J. and Megicks, P., 2010. Marketing planning: strategy, environment and context. Financial Times Prentice Hall
Foxall, G., 2014. Corporate Innovation (RLE Marketing): Marketing and Strategy. Routledge.
Kapferer, J.N., 2012. The luxury strategy: Break the rules of marketing to build luxury brands. Kogan Page Publishers.
Lamberti, L. and Noci, G., 2010. Marketing strategy and marketing performance measurement system: Exploring the relationship. European Management Journal, 28(2), pp.139-152
Mitchell, R.W., Wooliscroft, B. and Higham, J., 2010. Sustainable market orientation: A new approach to managing marketing strategy. Journal of Macro business, 30(2), pp.160-170
Morgan, N.A., Katsikeas, C.S. and Vorhies, D.W., 2012. Export marketing strategy implementation, export marketing capabilities, and export venture performance. Journal of the Academy of Marketing Science, 40(2), pp.271-289.