Question

What role does marketing play in the overall strategic planning process? In your post, discuss a company that you think has mastered the marketing process and also mention a company that you think needs much improvement in marketing products or services. How do you think that social media has changed marketing concepts over the past five years for these companies?

Instructions: Your initial post should be at least 250 words, not including repeated questions, references and quotes.

Answer 1

When it comes to a small business or a large corporation, marketing has been the cornerstone to the success of it. Depending on the size of your business will determine how much you intend to spend on marketing. The can range from as low as 4% of their annual revenue up to 40%. On average small businesses will spend roughly 10% of theirannual revenue. Why you ask? If people don’t know what your product is or can do, why would they want to spend money on it?

A company that I think has it right is Anheuser Busch! Let’s be honest they are marketing geniuses. They spend nearly 52 billion in advertising since 2008. They have reached the globe with their product and have made it a house hold name.

A company that i think need improvement in marketing products or services is staples. Not very good at product demand forecasting leading to higher rate of missed opportunities compare to its competitors. One of the reason why the days inventory is high compare to its competitors is that Staples, Inc. is not very good at demand forecasting thus end up keeping higher inventory both in-house and in channel.There are gaps in the product range sold by the company. This lack of choice can give a new competitor a foothold in the market.

Posts or some information posted on social media helps the company. social marketing campaigns and related programs helps a lot in the past five year for these company.