Question

Question 3

Compose a literature review surrounding the debates on “The impact of a good marketing strategy on an organisation’s performance”. This submission will serve as part of your motivation or presentation to your Manager, pending on how well you gather and present the information pertaining to the above. (25)

Answer 1

Answer -

Marketing has been a crucial part of any business. It is always necessary to take the products or services that you give to the consumers and ensure that the consumers are aware about your products and services. Markeing helps the business in understanding these parameters and take appropriate actions to ensure that the consumers are aware of the products and services of the business.

Since the importance of marketing is clear it is also necessary that the marketing strategies are aligned with the overall mission and vision of the organization. The marketing activities have to be carried out remembering the organizational level goals. It is necessary that the marketing strategy is created considering the holistic perspective on the business by considering all the stakeholders of the business, customers notwithstanding. Good marketing activities, especially in a saturated serious market will take your products in front of your consumers and keep brand awareness high.

this allows the consumers to interact with the brand conveniently and thus be associated with the brand. Thus this results in higher sales and consequently the organizational performance. Also, if the marketing is carried out effectively, even the income generated will be higher and businesses will have no need of giving promotional offers to attract consumers.

Subsequently, this is the reason a good marketing strategy can have a significant impact on an organization's performance.