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Most business people are keen to learn from and apply the concepts and behaviours of successful organisations. Select a successful organisation [from anywhere in the world] and write a 3000 word magazine style article explaining how it has utilised some of the many marketing concepts*outlined in this unitto become successful. [*Blue Ocean Strategy must be one of the concepts included].
The purpose of this assignment is to demonstrate your learning of marketing using an organisation as an example. Although students must refer to the available information, students are advised to remain focussed on demonstrating their marketing knowledge through the unit language and concepts [and not be overwhelmed by the information]. How the business example relates to the unit concept and vice versa is what should be made clear and emphasised.
The target audience for your article is small to medium businesses. The writing style should appeal to the target audience and be succinct and to the point. The style and the design of the article should be similar to those found in business magazines [e.g., BRW, Harvard Business Review].
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It was not the brand name, 'Tata Motors' but the marketing strategy that unleashed the power of the small.
The commercial car manufacturer with a revenue of Rs.67,576 crores as in the first quarter of 2015 credits the marketing strategies that helped it get back its market share, after a slowdown by about 35% in the year 2012-2013, says it is not the size or brand name of the company that actually matters but the strategy and its correct implementation (Tata Motors Ltd., 2015).
The company officials claim it to be the process change in areas of Customer Relationship Management, Product positioning as well as market expansion strategies that have supported such large extent of growth with same old models in the section of passenger cars (Tata Motors Ltd., 2015).
The launch of Nano is a remarkable example for its unmatched capability to implement the right set of marketing strategies with a greater lookout into the future at an appropriate time (Kotler, et al., 2012).
The expansion mode, with the small car as its new product, chosen was not overseas rather into small towns and cities with a target to mark a presence in around 651 districts of the country (Correspondent Economic Times, 2015). The target behind such an initiative was to enhance the demand of its old models to save upon in costs that would come in from the dumping of old models of cars along with creating the need for 'Nano' among the new segment of customers being targeted.
Tata Motors, one of the world's largest automobile manufacturer, based in India, today sends out a message loud and clear to the medium and small size businesses, that success can't be a constraint for a smart marketer even if money and manpower is. The historical growth story sees its inception in the year 1945 when the company, a manufacturer of locomotives started work to cater to commercial vehicle needs in India and brought out its first vehicle in the division in 1954. Slowly, overcoming the challenges and hurdles, Tata Motors was successful in launching its first passenger vehicle in 1991, and attaining perfection in the area with the launch of its most popular model Tata Indica, which today holds the biggest share as the public transport vehicle in India after catering to the needs of individuals. The company had seen a shift in concentration from passenger vehicles to commercial vehicles ranging from light commercial vehicles to heavy commercial vehicles, the idea which saw a turmoil in business in the recent past that introduced the idea of catering back to passenger cars targeting retail customers and also looked into innovation of technology by a concept car like Nano, entitled as the world's cheapest car targeting the new segment in the market in the year 1998 (Kotler, et al., 2012).
The success of Nano helped Tata Motors to expand and cater to world needs in all different sections of commercial and passenger vehicles. Implementation of Horizonext Strategy and the Blue Ocean Strategy, which refers to enter into an uncontested market and create specifications of the product so vulnerable that competition is of no question, are among two crucial marketing initiatives that have supported the launch of Nano and the new series of Gen X Nano.
With a fast and smooth growth credential, Tata Motors has invested highly to streamline its marketing function and plan product and function wise strategies to excel in all divisions of function. At the corporate level, the concentration majorly has been to manage growth, stability, and diversification. Every dimension is monitored and is backed up by sets of directional strategies that have helped make profits by innovation rather than investment. At the business level, the concentration is majorly bifurcated in areas of developing a competitive strategy, which was not essential in case of Nano that was backed up by the concept of Blue Ocean Strategy, cost leadership as well as differentiation in terms of products (Keller, et al., 2011).
The next level of strategy formulation is undergone at the functional levels where basic marketing strategies like identifying and analyzing the four P's of marketing are done along with a developed financial strategy as well as an operational strategy, all of which supports the marketing strategy of the company as a whole.