Business research

IMPACT OF MARKETING STRATEGIES IN EXPANDING BUSINESS
Table of Content
IMPACT OF MARKETING STRATEGIES IN EXPANDING BUSINESS    1
Table of Content    2
Project Background and Rationale    3
Research objectives    4
Research questions    4
Literature Review    5
Introduction    5
Concept of Marketing Strategies    5
Impacts of marketing strategies in expanding business    6
Advantages and Disadvantages of Market Strategies    7
The gap in literature    8
Research Methodologies and Methods    8
Ethical Issues    8
References    10
Project Background and Rationale
Area of Focus
The prime focusing area of the discussion is to evaluate the impacts of marketing strategies in an expanding business. Research about the market status and enacting marketing strategies are some fundamental need to optimize a business. Marketing is the most basic and the most core need to run a business. Marketing helps a company to enrich its position in society. Marketing strategies are acting as a tool that affects the performance of a business in a strategic way. The discussion is going to focus on the market scenario and the strategies taken by the business entrepreneurs which create revenues and sustainability for that particular business.
Areas of Investigation
There are a number of areas and research objects which are directly related to the marketing strategies. A business consists of sales performance, customer acceptance and financial performances of an organization. On the other side, the marketing strategies include pricing, promotion, standardization of products, distribution of supplies and adaptation of new technologies and development tools. The investigation area will be the linkage between the marketing strategies along with the organizational performances. The capacity of an organization in terms of marketing entirely depends upon the programs and strategies taken by the management team of a business.
Context and Relevance
Most of the successful companies around the world became successful in terms of creating revenues or marketing their goods or services just with the help of the adaptation of proper marketing strategies. It had been researched that companies which are having marketing strategies in an adequate way have almost 40 per cent more market shares and revenues in the global and local market than the companies which are unable to apply proper marketing strategies to expand their business in a sustainable way (Samiee and Chirapanda, 2019). Due to this reason, it is essential to apply various marketing strategies to maximize the economic and social return from a business. There is a need to understand the relation between the factors of marketing strategies and the performance of a firm which are adapting those strategies. There one to one direct relation is the reason to have a proper discussion about the impacts of marketing strategies. A number of business entrepreneurs have declared regarding the positives of appropriate marketing strategies. According to Steve Jobs, an appropriate chain of supply can create an adequate demand which can spike up the market structure, and the new collections make new demands. With this theory, Mr Jobs presented all-new Apple products in the global market, which have created a massive demand for the products. His decisions and proper marketing strategies are the sole reasons which optimized the business of Apple products in the market. Hence, it is clear that the relevance of taking adequate marketing strategies is vibrant, and the separate study is also a must need for the readers.
Global and Local Application
There are tons of examples in terms of business organizations and brands which have created a mark in the global and local business (Morgan et al. 2019). The international brand name of a company designs and identity, which makes market value for an organization. For example, Nike and Starbucks are called Nike and Starbucks across the globe. The name of the brands is a factor in itself to promote their business in a global way. On the contrary, to gain local reach, some of the companies and brands modify their name as per the demands of the countries. For example, 'Rexona' is a deodorant brand that originated from Australia. The name of this brand in the United Kingdom is 'Sure', and in the USA the company is known as 'Degree'. In South Africa, the name of the company is ‘Shield’. This is a local marketing strategy that evidently creates more revenues.
Research objectives
The salient objectives of the research are -
· To determine the impact of marketing strategies in a business
· To describe the issues regarding application of marketing strategies that are influencing a trade negatively.
· To explain the different advantages and disadvantages of applying marketing strategies.
· To recommend possible solutions to mitigate such emerging issues in practising marketing strategies in a business.
Research questions
The probable questions outcomes related to this research are -
· What are the impacts of marketing strategies in a business?
· How can several issues related to the application of marketing strategies influence a business?
· What are the advantages and disadvantages of marketing strategies?
· What are the suitable...