Strategic Management and Marketing (Business proposal)

Question: Discuss the understanding of the developmental processes of strategic marketing management (Kaplan and Atkinson 2015). Answer: Project scope The project work would provide essential insight into the ideologies of the strategic marketing management. It would also provide an understanding of the developmental processes of strategic marketing management (Kaplan and Atkinson 2015). The project emphasizes on the implementation of technology to develop a transformational; program in order to establish a revised, sustainable and innovative model for tourist information provision in collaboration with the City Council, the Manchester Visitor Economy Forum and tourism business. The project focuses on providing ideas to generate revenue in order to transform the business organization into a sustainable outfit. Moreover, the project work will also inspire people to visit Greater Manchester. Situation and Background The main purpose and aim of the strategic management is to analyze the organizational goal and provide a solution in achieving the desired targets. Moreover, the strategic management is also responsible for ensuring that the organization is standing in a sustainable position. Apart from this, the strategies that are implemented by the management provide the stepping-stone for making proper managerial decisions (Fawcett et al. 2014). On the other hand, marketing is considered as the primary philosophy that provides business growth, business outlook, and prosperity to an organization (Srensen 2012). However, the concept of marketing holds various assorted models that offer value, brand identification, and promotion for a particular organization. The core and underlying concepts of marketing are focused on analyzing customer's demands, needs, and values. Based on these aspects the marketing aspect provides shape to the organization by exchanging communication and relationship with the customers and other stakeholders. Side-by-side, the marketing policy of an organization, is focused on building up direction and install business scope for the company considering its long-term sustainability. The marketing strategy provides an organization with a competitive advantage in the market. On the other hand, the organization needs to cope up and apply all of its available resources so that it can meet the expectation of its stakeholders. This is the basic concept of strategic marketing management, which is implemented by most of the organization to sustain its supremacy in the business market (Hill, Jones and Schilling 2014). Based on all these viewpoints the strategic management team of an organization is focused on developing various strategies to deal with major market competitors. The strategies also help the organization to identify the market opportunities so that they can successfully commercialize their product and services. Side-by-side the strategic and marketing management professionals are also focused on allocating and recruiting valuable work resources in order to design a proper organizational structure (Ross 2013). This helps the company in acquiring notable performers and achievers that play a significant role in providing success to the organization in the long run. However, the marketing and strategic management team need to align the cost position, pricing policy of the organization with the trust, expectation, and demands of the customer, competitors, suppliers and other stakeholders to extract out the best possible result. The strategic management includes three primary stages that are implemented in the organization to analyze the overall scenario. Firstly, the management team is required to run an internal and external analysis of the company (Taghizadeh et al. 2013). For the external analysis porter's five forces management tool is considered the best out of the lot. On the other hand, SWOT analysis is considered as the best tool to run the internal analysis of the company. The internal analysis of the company helps the management team to understand the marketing, operations, management and financial components of the business. The third and final step of the analysis is focused on providing a strategic posture to the company and provides proper market strategies to the enterprise in order to increase the popularity and brand value. This is where the marketing plan is devised which meets the needs of the external and internal environment but also fits the strategy of the organization (Freeman 2010). Theoretical approach Figure 1: Theoretical framework showing the strategic implementation process Source: Created by Author Research approach Two types of research methods, which mainly influence the depth of a research study, are inductive and deductive approaches. It is often observed that the deductive research approach focuses in a waterfall approach, which moves from a general viewpoint and thereby attains a complex perspective. This is done by formulating quantitative research study. Apart from the deductive research study, the inductive research study focuses on developing building approaches, which follows the specific concept to general approach (Wang et al. 2012). In this research study, the researcher is required to highlight the underpinning theories along with the concept of academic literature to test efficiently the experimental data which are obtained by interacting with the subjects of the context. The research is found to be associated with scientific protocol to test theories based on the primary empirical data. The Deductive Research Approach focuses on a waterfall theory, which tends to move from a general perspective of the topic to a specific approach. This streamlined approach formulates an extensive knowledge gaining procedure through simplified data testing approaches. This method is effectively followed in both qualitative and quantitative research approaches. On the other hand, the inductive approach targets in deducing a general topic from a set of complex and specific approach model (Bryman and Bell 2015). In this research study, the researchers are aimed to underpin the reviews obtained from various people. The reviews will be effectively tested against the obtained empirical data. This is accomplished by interacting with the research subjects efficiently and in a detailed manner. Hence, a deductive research study is selected for this current topic, which would be effective to deduce relevant analysis (Bourletidis 2013). Figure 2: Different stages of deductive research approach Source: Created by Author References Bourletidis, K., 2013. The strategic management of market information to SMEs during economic crisis.Procedia-Social and Behavioral Sciences,73, pp.598-606. Bryman, A. and Bell, E., 2015.Business research methods. Oxford University Press, USA. Fawcett, S.E., Ellram, L.M. and Ogden, J.A., 2014.Supply chain management: from vision to implementation. London: Pearson. Freeman, R.E., 2010.Strategic management: A stakeholder approach. Cambridge University Press. Hill, C., Jones, G. and Schilling, M., 2014.Strategic management: theory: an integrated approach. Cengage Learning. Kaplan, R.S. and Atkinson, A.A., 2015.Advanced management accounting. PHI Learning. Ross, D.F., 2013.Competing through supply chain management: creating market-winning strategies through supply chain partnerships. Springer Science Business Media. Srensen, H.E., 2012.Business Development: a market-oriented perspective. John Wiley Sons Ltd. Taghizadeh, S.K., Jayaraman, K., Ismail, I. and Iranmanesh, M., 2013. Service Innovation Management on Market Performance through Relevancy of Market conditions: Guide to Telecommunications Industry, Malaysia.Australian Journal of Basic Applied Sciences,7(4), pp.241-252. Wang, C.H., Chen, K.Y. and Chen, S.C., 2012. Total quality management, market orientation and hotel performance: The moderating effects of external environmental factors.International Journal of Hospitality Management,31(1), pp.119-129.