marketing strategy and consumer behavior
The understanding of the concept of marketing strategy and consumer behavior is imperative. This is because it forms the basis for the formulation of strategic objectives for the organization. The accurate strategic formulation is essential since it contributes towards the improvement of the organization’s performance and productivity in the competitive environment. The understanding of these concepts will hence be imperative in the job strategy (Manrai, 2018). This is because it will assist me in formulating viable marketing strategies that will enable the company to penetrate a new market, leading to the broadening of the market share for the organization. The higher the market share, the higher the expected profits, and it also results in the improvement of the organization’s liquidity positions. The understanding of consumer behavior will be essential since it will aid in an effective understanding of consumers based on their culture and subculture etc. this will assist the organization in providing customized products based on consumer tastes and preferences. The knowledge gained I will utilize to spearhead the organization meetings and implementation of the overall organizational strategies. This strategy will include the growth intensive strategy and generic strategies, among others. This will contributes towards the improvement of the organization’s performance, which leads to the organization gaining a competitive edge. The adoption of the marketing strategy and consumer within the organization will aid in resolving any marketing challenges. The existence of an inadequate marketing strategy can results in organization liquidation as going concern in the competitive environment (Kim & Ahn, 2017). The adoption of marketing strategies and consumer behavior will contribute towards the formulation of viable strategies and remedy to any organization problem leading to organization prosperity.
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The organization is usually required to have robust marketing strategies as well as a wealthy understanding of consumer behavior. This is imperative since it contributes towards the formulation of a viable strategy which leads to organization prosperity in the dynamic knowledge. The main objective of the course includes the understanding of consumer behavior based on their culture and subculture etc. and formulating marketing strategy among others (Kim & Ahn, 2017). The adoption of the knowledge gained from the course hence will contribute towards the formulation of the right marketing strategy, provision of the right product packages to the consumers, and an effective understanding of the environmental dynamic. This is essential since it contributes towards the improvement of the organization’s productivity.