Marketing Management is Impacted By Strategic Management
There are different key terms related to my above research topic which certainly needs to be defined for the understanding of readers like; Strategy, Marketing, strategic management, and marketing strategies.
Strategy is a plan which is formulated to achieve a certain goal or objective. On the other hand, (Armstrong, 2014) defines Marketing as a social process through which people are able to fulfill their needs and wants with other with the help of exchanging and values and the products.
Strategic Management is cross functional decisions’ drafting, implementation, and evaluation for an organization in order to achieve long term objective and the goals. (Kapferer, 2012)
Starbucks was established in year 1971. Basic business of Starbucks is consisted on beverages and food. The main aim of the marketing functions at Starbucks is to maximize the sales. On the other hand the basic aim of the strategic management at Starbucks is evaluate the viability of the cross functional decisions taken at Starbucks in order to achieve long term sustainability. Objective of the strategic management at Starbuck is to maximize the effectiveness of the entire cross functional decisions taken at Starbucks so that Starbucks is able to achieve long term sustainable growth. (Kapferer, 2012) In each and every company, marketing management and strategic management has significant relationship and the strategic management has an important role in effectiveness of marketing management. (Payne, 2005)Through this research, we will analyze how the marketing management at Starbuck is impacted by the strategic management.
- What are the marketing strategies which are employed by Starbucks?
- How strategic management is conducted at Starbucks?
- How the marketing management of Starbucks impacted by its strategic management?
Null Hypothesis: Marketing management is positively impacted by strategic management at Starbucks.
Alternative Hypothesis: Marketing management is negatively impacted by strategic management at Starbucks.
Starbucks is continuously following the strategy of expansion by expanding its retail operations with introduction of new products and finding new distribution channels. (Starbucks, 2015) Programs such as marketing relationship have been formulated and implemented to increase the loyalty of the customers. Customer orientation has been stressed by the both the marketing and strategic management. We can notice that as the time has progress the marketing literature which emphasize on building a long term relationship with customers has increased also. (Payne, 2005) In order to do a successful marketing for a beverage and food company, it is important that there must be significant changes in product and sub strategies of marketing strategies like; advertisement strategy, promotion strategy… (Armstrong, 2014) It has been observed that if a product is advertised once is not noticed whether the product is advertised on television or on radio or using print media or through other media. To advertise a product effectively it is necessary that the product must be advertised again and again but it costs a lot. That’s where marketing management plays its role. (Kapferer, 2012) Marketing management analyzes the situation and makes best decision by keeping in view the available advertisement options and the available resources and also that’s where strategic management plays its role, strategic management analyzes marketing management and then brings changes by keeping in view the impact of the decision of marketing management on other functions of the company and its ultimate impact on the company to achieve its objective in long run. (Payne, 2005)
Basically, we can conduct our research either by following quantitative methodology or qualitative research methodology. Many researches recommend mix of both methodologies. In most of the research works which does not require application of complicated statistical models, qualitative research methodology is preferred as it is easy to implement and requires less resources in terms of money and time. (Punch, 2009)Therefore, I have chosen qualitative research methodology for my topic.
Basically there are following two variables in my research:
In my research, Strategic Management is independent variable who impacts marketing management.
Marketing Management is dependent variable which is impacted by strategic management.
To complete my research, first I identified a research topic by understanding the key terms used in my topic then I analyzed the problem and formulated research questions and hypothesis for my research. After that I conducted a literature review about my topic which helped me understanding and gaining knowledge about the basic theories and findings of the earlier researchers who conducted researchers related to my topic. Then I developed my research plan about choosing research methodology, the data collection and analysis methods and at the end I analyzed the expected outcome of my research work.
Data Collection and Analysis Methods
Basically, we can use primary sources and secondary sources. Primary data which is also called firsthand data requires extra resources in terms of extra money and time to gather relevant data. Primary data can be collected through questionnaires, interviews, surveys, case studies… On the other hand, secondary data is relatively easy to collect and less expensive. We can gather secondary data through books, journals, websites, newspapers… (Punch, 2009) I have decided to gather information through both sources; primary and secondary. For primary sources I will conduct a survey consisted on a questionnaire related to my topic. To analyze the data, I will use the percentage analysis on the data collected through survey questionnaire.
Expected Research Outcome
Through completion of this research, I will be able to analyze how the marketing management is impacted by the strategic management at Starbucks. Even though there are sufficient amount of literature is available on the relationship of marketing management and strategic management but I did not find a study which has specifically addressed how the overall marketing strategy of Starbucks is impacted through strategic management. So, this research will be a valuable addition to the existing literature available about my research topic.
Armstrong, G. A. (2014). Principles of marketing. Pearson Australia.
Kapferer, J. N. (2012). The new strategic brand management: Advanced insights and strategic thinking. Kogan page publishers.
Payne, A. &. (2005). A strategic framework for customer relationship management. Journal of marketing , 167-176.
Punch, K. F. (2009). Introduction to research methods in education. Sage.
Starbucks. (2015). Annual Reports. Retrieved 04 11, 2016, from investors.starbucks: http://investor.starbucks.com/phoenix.zhtml?c=99518&p=irol-reportsAnnual
Wikipedia. (2015). Starbucks. Retrieved 04 11, 2016, from wikipedia: http://www.starbucks.com/about-us/company-information.Order Now