The advance in technology world wide today has been of great consequence to globalization of all spheres of life. Every aspect of human endeavor is assuming a global focus. The most significant aspect of the production of goods and services is the competent marketing as it completes the chain of production. The range of production levels from the domestic to global levels have a common challenge which can only be overcome by the marketers intelligence to cope up with the challenges. This therefore calls for skills and intelligence suitable decisions aimed at the persistence in the market, despite the challenges possessed by the competitive nature of the market. These skills and intelligence forms the basis of strategic market planning.
Strategic market planning involves all procedures, processes and executions of the right options to adopt as a business, so that the respective business can continue to be competitive in its market of choice despite the existence of competing business. The strategic market planning makes use of qualified and experienced staff to face, analyze and solve the potential challenges that poses a threat to the future market position of the country with respect to global market.
There exist companies at different stages of development ranging from international, multinational, global and transnational stages. All these stages of development are associated with different levels of competencies based on experience, skill s and the level of advancement.
Differences in companies abilities to meet the strategic market planning from a global perspective:.
The different stages of companies have varied abilities to critically address the following issues:-
A comprehensive review on an interval of time of the existing global market opportunities (Waters 2003,94) Different companies has different hiring powers of the company’s chief executive officers. The level of skills and experiences of the chief executive officer is very influential as to determine the following attributes of a strategic market planning;
The reason as to why customers prefer to buy from one company and not another; the improvements of the customers life enhanced by the product or service of a certain company; the company’s product or service effect on a particular segment of a customers market. The motivating factor of the company influencing the customer’s attraction to the particular company and the general changes in the customer’s base or trends which is of crucial importance to the customer’s attraction to the companies’ product or service. (Mc Call 2004,114). It is through these CEOs that companies positioned at completive and strategic points.
The companies also exhibit different branding qualities which is quite influential to enhancing the image of the product. Branding also increases the loyalty of the customer which is positive towards the ability of that company to generate more revenue (Porter 1996, 56)
The CEO is also duty found to be competent analytically towards the position of the company in comparison to other competitors. This is influencial towards future strategies products and services to cope with the market demands. To achieve this role companies need high level consultants and this significant cause of differences of companies at different stages of the global market. (Porter 1996, 78)
The level of market training planning and research also contributes to differences. The staff of the company dealing with these issues, together with the evaluation of the objectives and the level of research contributes significantly to differences in companies’ competence to cope with the global market.
The level of information technology and the skills associated with the internet is another major contributor. This offers the basic to the online market intelligence. Different stages towards global marketing exhibit different advantages to this aspect. (Porter 1996, 56)
Market research and the feedback to the enterprise is fairly simplified to a consolidated package by this significant tool necessary to enhance marketing. In essence the results of this is the reduction of cost, time and difficulties associated with strategic market planning. (Mc Call 2004, 121)
An effective information technology helps the CEOs of the beneficiary company to overcome the tumult required by the business of looking for the solutions towards the future of the company marked position threatened by competition. The technology also aids the company in capitalizing with the opportunities associated with the internet, the CEOs are able to address changes comfortably and master changes in a simple way.
The use of the media industry also creates a difference among these stages of development in companies. Different media have different coverage and different accessibility. The media is of crucial significance to any field including marketing some information of products and services of a company are disseminated across the recipient. The media of choice should also be global for its efficacy to be global. (Waters 2003, 117)
The concept of marketing is so overwhelming since the skill and act itself is challenging. However if the market solutions are met competently, the running of the business becomes smooth, enjoyable and profitable.
The CEO acquires the potential to make a distinction between a product or service and competition. This further enable the company to rise above the competitors due to the uniqueness achieved.
In conclusion, the basic objective is to make all skills necessary to create some unique character of products, services and the business organization considering the level of technology advancement of the current state.
Donald Waters (2003) Global Logistic and Distribution Planning Kogan Page; 4th Ed. ISBN -13:978-0749439303 pp 94 -117
J.B. Mc Call (2004) International Strategic Marketing. Routledge; 1 Ed. ISBN-13:978-0415314169 pp 141 – 121
Michael E. Porter (1996) Competition in Global Industries: Harvard Business School Press,. Harvard. pp 56 – 78