Strategic Marketing Management Essay Example | Topics and Well Written Essays - 3250 words

Strategic Marketing Management - Essay Example It is irrefutable that the business arena is evolving into a hypercompetitive environment characterised by the continuous by more intense rivalry among industry players associated with the growth of buyer leverage (Kotler 2002). This trend forces business organizations to rethink their strategies in order to compete more efficiently and more profitably. On the other hand, these developments in the market also present opportunities for business organizations especially in the way they market their products and services to their specific target markets. In order to choose the strategic path that a company should take, it should first identify the strategic marketing options available for it (Kotler 2002). The identification of strategic marketing options is aided through the use of different strategic management tools. Strategic management tools are essential instruments for managers and decision makers. The use of these tools does not only provide a diagnosis for the business organization but prescribe solutions and strategic responses as well (Thomson 2002). This report will look at the different strategic management tools used by business organizations in order to identify the feasible and available strategic marketing options. The first section will focus on the Ansoff Matrix and how it can be used to evaluate the strategic directions that the company can take. The second part will look at the other analytical tools and techniques which can be employed to develop marketing alternative marketing strategies. This paper will conclude with its findings. The Ansoff’s Matrixis is a tool in strategic management which is utilised in order to aid managers in deciding the product and market growth strategy of a business organization. After its publication in the Harvard Business Review in 1957 in an article entitled, ‘Strategies for Diversification,’ this strategic management tool has gained wide popularity and recognition in the marketing world.

Globalization of the clothing industry Essay Example | Topics and Well Written Essays - 1250 words

Globalization of the clothing industry - Essay Example Moreover, movement of goods, services and capital has been made easy through globalization, and it has hugely influenced different sectors including the clothing industry. Globalization in the clothing industry is defined as the movement of textile products from one part of the world or location to the other through fashion, exhibition, apparel, showcasing or designing (Timmerman 3). It does not necessarily mean physical actions, but sharing of ideas or clothing from different parts of the world. There are numerous debates among scholars, countries, and investors on the beneficiaries and impacts of globalization in the clothing industry. Today, different fashions are available at the consumers doorstep due to globalization. Clothes produced by American firms are available in China, African and every corner of the world. In turn, it has negative and positive impacts on consumers, and domestic clothing industries. This paper will outline effects of globalization of the clothing industry on factories and employees in the United States, as well as on the consumers. Globalization of the clothing industry has provided opportunities for factories in the United States to outsource for cheaper labor from developing or emerging economies and countries. Many US clothing industries are outsourcing their marketing, manufacturing, and other duties to less developed nations, where the currency differences favor them (Timmerman 40). US companies find cheap labor because of outsourced services, and this makes them complete manufacturing at half the home or domestic price. Therefore, most US clothing companies have established manufacturing units in less developed nations such as China, Bangladesh, and India in order to produce goods at low prices. Many US factories have gained from globalization of the clothing industry, because they benefit from outsourcing thus gaining enormous profits. Similarly, globalization of the