The marketing strategy adopted by a business benefits the overall performance of a company to a great extent. . However, since the meta-analysis by Szymanski, Bharadwaj, and Varadarajan (1993), substantial environmental (e.g., digitization) and methodological (e.g., accounting for endogeneity) developments have occurred.The current work presents an updated and extended . Omotayo (2009) conducted a research to study effect of marketing strategies on export performance in Nigerian export companies. This issue alone could change the structure of insurance product offerings and consumer coverage by 2017. We offer our financial advisors an extensive variety of marketing plans and strategies for their practices that generate qualified leads with digital marketing, social media, education webinars, radio and television advertising, and so much more. Ascertain the effect of marketing of financial services on First Bank Nigeria Plc. The impact of market share on financial firm performance is one of the most widely studied relationships in marketing strategy research. 3. The performance of business activities that direct the flows of goods and services from the manufacture to the consumer. Finally, a conceptual understanding by marketers of the financial metrics that are required to be influenced in order to increase shareholder equity will provide greater clout in negotiations with management and boards of directors. issues facing decision makers. As discussed by Ambler (2000), marketing performance measures typically fall shy of management needs. Certainly, marketing strategies can play a crucial role in performance of organizations especially banking performance. A digital marketing strategy takes patience. 2019 Apr-Jun;12(2):93-96. doi: 10.25122/jml-2019-1003. Strategic financial management helps financial managers make decisions related to investments in the assets and the financing of those assets. In another case study, Makanga & Paul (2017) also found strategic management practices to have influenced the performances. 4.1.3 Objective 2: To examine the challenges associated with of digital marketing and corresponding mitigating strategies. Schedule a Visit and See How We Can Grow Your . To determine the relationship between place and the profitability of organization. Abstract. These solutions aim to . 1. Prior research has shown that two key marketing assets, advertising assets . To evaluate the effect of promotion strategies on the profitability of Coca-cola. Hence, these departments must be engaged to help create the planned strategies. This type of cost-effective marketing strategy drives traffic and revenue for companies selling financial services and products . Marketing performance is central to success in today's fast moving competitive markets, and measuring marketing performance is critical to managing it effective (Chiliya, 2009). financial organization's marketing strategies as against that of its competitors.Finally, it gives us an insight into how Commercial Banks can use controllable variables. An effective marketing strategy should consider customer preferences and interests. The findings suggest that customer service and reinvestment of . Price: Price refers to the monetary values of product. We then apply new and emerging techniques to ensure solutions resonate with audiences and respond to . study suggests that the impact is mediated by marketing strategy implementation success. on performance. Anas and Batool (2016), determined the effect of marketing strategy on maximizing the organizational performance of small and medium size companies in the capital of Jordan Amman. financial performance (enhancing and accelerating cash flow, reducing risks) and (2) value created (market capitalization at the aggregate level, and brand and customer value at the strategic business unit level). At the same time, these trends are affecting pharmacy practice. Using SEM analysis, surprisingly weak relationships between market orientation and outside-in capabilities, and business performance are . The overall organizational performance was found to have been positively affected by its strategic management practices. . such as IT and marketing, are often involved in strategic financial management. Marketing strategies and sales performance have been grounded on marketing mix theory and theory of push and pull. Clearly, marketers must 4.1.2 Objective 1: To determine the extent of use of Digital Marketing in firm. impact on the financial performance of firms. A well framed marketing strategy promotes overall development. If you're a quarter of the way through time-wise, but you're not quite to a quarter of the metrics to achieve that goal, don't abandon ship. In the first step, a growth path of the company can be formulated that lays down its vision, mission and strategic aims. Changes in marketing strategy and performance were expected. Promotion, pricing, distribution, and product standardization and adaptation have an impact on sales, customer and financial performance of firms. doi: 10.1016/j.sbspro.2015.01.382 Global Conference on Business & Social Science-2014, GCBSS-2014, 15th & 16th December, Kuala Lumpur The impact of green marketing strategy on the firms performance in Malaysia Zuhairah Hasan a *, Noor Azman Ali b a Putra Business School, Universiti Putra Malaysia, Serdang, Selangor, 43400 . Promotion, pricing, distribution, and product standardization and adaptation have an impact on sales, customer and financial performance of firms. In order to measure marketing strategy effectiveness, a business has to break down its marketing function into constituent parts, along with a mechanism through which . 2. Expertise is vital. Background: Strategic Functional-level planning should be aligned with business level and other functional strategies of a company. By capturing data from customers and clients, companies can build and develop trusting relationships which will further enhance the firm's offerings. 3. Examines the impact and significance of marketing strategy variables on performance in a developing country which has instituted market reform measures. Marketing strategy has been a focus of organizations and a tool for attaining overall firm performance. My dissertation builds upon research at the intersection of marketing and finance by providing managerial insight on three specific aspects of marketing's impact on financial performance. Affiliate marketing (brands working with partners to promote products through great content) has experienced incredible growth in recent years. The central objective of this study is to examine the impact of marketing strategies on productivity other specific objectives are: To examine if the marketing strategies are managed in-house or outsourced. As marketing strives for greater accountability, it is critical that we understand how customer metrics link to profitability and firm value. and financial performance (e.g. The research yielded three key insights on the importance of marketing and how it was impacting the company's sales success: 1. Marketing strategies The impact of marketing activities on business performance indicators (1969-1989) Kylolu, A.S., Tosun, P. & Doan, M. / Anemon Mu Alparslan niversitesi Sosyal Bilimler Dergisi, 2021 9(1 . Marketing mix: Four Ps of marketing; price, promotion, product and public relation. Each step of the process must be backed by a company's financial plan, so research plays a vital role in creating a sound marketing plan. At the same time the impact of moderating factors of product homogeneity, stage of product life cycle and . This analysis can be proceeded in a step-by-step procedure to ensure that effective solutions are found. Berhad. Cross (2018 . 4.2 Analysis and Interpretation. The results of the study revealed that in terms of product strategy development marketing strategy, pricing strategy, and distribution strategy, company performance was statistically significant. Keywords: Marketing, Strategy . Promotion, pricing, distribution, and product standardization and adaptation have an impact on sales, customer and financial performance of firms. Keywords: Marketing, Strategy, organizational and performance I. This paper has three objectives: (a) provide a review of key customer metrics and the measurement and modeling issues related to them, (b) highlight To examine the extent to which pricing affects the profitability of Coca- cola company. Marketing mix theory is still used today to make important decisions that lead to the execution of a marketing plan. By 2022, the industry expects to exceed 8.2 billion dollars in value. The consequences of the investigation uncovered that as far as item improvement INTRODUCTION A successful marketing strategy must tell an organization where they would want to be on a long-term basis that is why it is often said that marketing strategy is a continuous . Firms should attempt to instigate a data-capture strategy wherever possible. 5 Ways Financial Research Impact on Marketing. Impact's strategic approach is steeped in both the science and art of marketing and communications. relative homogeneity enables testing the generality versus context-specificity of strategic marketing's performance impact. and adaptation have an impact on sales, customer and financial performance of firms. It is presumed that assimilating the strategies could have positive contribution to business performance, in this regard alignment between marketing strategy and financial strategy seems to be the most important strategies being studied. Business Strategy and Financial Performance is designed to give you the key tools and perspectives from strategy and finance to achieve these objectives. At the same time the impact of moderating factors of product homogeneity, stage of product life cycle and . potential impact on firm's sales, customer and financial performance. Keywords: Marketing Strategy, Performance, Competitive Advantage, organization, Jordan. Keywords: Marketing, Strategy, organizational and performance. The study suggests that the impact is mediated by marketing strategy implementation success. The rate at which a firm produces and markets its products. 4.1.4 Objective 3:To assess the effect digital marketing on firms financial performance. 1 Most promisingly, we found a strong correlation between C-suite alignment on marketing performance . I.INTRODUCTION Marketing performance is central to success in today's fast moving competitive markets, and measuring marketing's performance is criti-cal to managing it effectively (Anonymous, 2006a). Organization performance is a major tool use to determine the success, growth capability . approach to developing and executing successful strategies for the marketing of financial services, much more so than in other markets. Author Victor Lorin Purcarea. This is doing the Financial Impact of Nuclear Power Plants FirstEnergy and Davis-Besse Case Solution. It all Begins with a Plan. Akinyele (2010) reported that strategic marketing affected on Nigerian Oil and Gas Industry. The performance of deposit bank or any organization can be measure in terms of its effectiveness, efficiency, market share, liquidity and profitability; these tools are used by organization to determine the impact of marketing strategies on its performance. It will also be of importance to know how marketing strategies in the financial industry are different from those of other service rendering industries. Focus on the relationship between marketing strategies and banks performance. Key Performance Indicators (KPIs) . Marketing small and medium sized enterprises seems to be quite a task, but if done the . Morgan et al. The study suggests that the impact is mediated by marketing strategy implementation success. The idea of a marketing mix theory is to organize all aspects of the marketing plan around the habits, desires and Consistent with prior research, the aggregate analyses indicate that brand equity, as measured by customer mindset metrics, positively affects . The author presents an approach for estimating the total financial impact of marketing assets with limited time-series data and demonstrates the approach with an application to brand equity research. The company is successfully growing and continuing to be one of the leaders in the market. The longer-term impact of the current trends is now being recognized by commercial and self-funded plan sponsors, along with how best to manage the economic risk over time. For example, while brand value is undoubtably a long-term financial asset, it's difficult to measure, much less in the short term. marketing strategy influences business performance growth. Results were obtained from a survey of chief executive officers of the top 200 manufacturing companies in Nigeria. f 2. The programme will help you understand how a company's strategic agenda can evolve, and how you can use that understanding to better identify opportunities for profitable differentiation. We build each strategic solution on a sound research-base of communications, marketing, and design theories, principles, and best practices. Increasing Opportunities - Without marketing support, sales . 4. Secondly, marketing strategy pursued in international markets has an effect on the firm's level and form of investment in those particular international markets which significantly affect the firm's capability to employ standardization PMID: 31406509 PMCID: PMC6685306 DOI: 10.25122/jml-2019-1003 . The impact of marketing strategies in healthcare systems. However, Deloitte's research shows that some CMOs and CFOs are finding ways to collaborate more effectively. Analyzing the Impact of Green Marketing Strategies on the Financial and Non-Financial Performance of Organizations: The Intellectual Capital Factor: 10.4018/978-1-5225-9558-8.ch008: Green marketing strategies have the immense power of motivating both consumers and producers to get involved in saving the planet and, at the same time, to In order to measure marketing strategy effectiveness, a business has to break down its marketing function into The benefits of your strategy will be compounding, so you'll likely experience slow results up front, but increasing results at the back end. The study suggests that the impact is mediated by marketing strategy implementation success. My first essay shows how marketing reduces a firm's bankruptcy risk. See what it's like to be an Impact advisor! To assess the social media strategies used to manage the marketing function. This essay provides a description of Target Corporation, an analysis of its marketing strategies, and financial performance. The study employed the survey design and the purposive sampling technique to select 450 staff across management, senior and junior level. Managerial judgment is very important in keeping up with environmental ambiguity and uncertainty in strategic marketing. Online marketing is the key to boost your sales and revenue which in turn helps in the overall business growth. 2. It ensures the growth of sustainable development. The study suggests that the impact is mediated by marketing strategy implementation success. THE IMPACT OF PRICING STRATEGY ON SALES PERFORMANCE (A STUDY OF UNILEVER PLC) ABSTRACT The study examined effect of pricing strategy on sales performance, a study of Unilever Nigeria Plc. INTRODUCTION This study emphasizes the importance of the effective use of marketing strategy to maximize the performance of an organization and to improve strategies for a sustainable competitive advantage. The impact of marketing strategies in healthcare systems J Med Life. Besides this, it helps in overall brand building and positioning your brand at a certain level. The specific objectives of the study are; 1. According to (Owomoyela, et al, 2013), the purpose of the development of an organization's marketing strategy development is to create, build, defend and maintain its competitive advantage. Thus, the objectives of this paper are to: 1. To begin with, Target starts its history in 1962 as the discount division of the Dayton's Company of Minneapolis in Minnesota. A company's marketing plan is a clear list of goals that are written down to provide a roadmap for the marketing department to use moving forward. 2002).
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