1. In many organizations, marketing does not have a place of importance in the organizational hierarchy. Why do you think this happens? What are the consequences for a firm that gives little importance to marketing relative to other business functions?

Marketing is the very effective approach that needs to be used by every company. However, the companies that have less importance in the organizational hierarchy suffer a lot in the market, because there are no effective customers and company in this way, do not reach the desired goals; as target market cannot be given effective information about the products as well as the other services. In any case, it should be worried that media as a solid instrument creating view of the objective market, and organizations along these lines are getting the points of interest in the market, there are organizations that are giving the attention to the shoppers and thusly, target market or purchasers concentrated on the need that they have for the items (Gilligan & Wilson, 2012).

It is analyzed that little importance to the marketing relative in the company can lead the company to face the failure, as in this way other operations of the company can also face the issues in the organizational environment. Thus, companies that do not consider the marketing as an important instrument think that marketing is an expense and have some non-value added by the marketing of the company companies However, the companies in this way suffer and there is no increase in the sales, the companies need to consider that media's part is certain as there are different advantages for the general population; individuals are getting the mindfulness and in addition the learning in regards to the things or items they need to utilize, media is successfully centered on the requirements of the shopper through breaking down the significance.

Promoting is the exceptionally powerful approach that should be utilized by each organization. In any case, the organizations that have less significance in the hierarchical chain of command endure a considerable measure in the market. It is examined that media is adequately impacting the customer's recognition as they pull in towards the brand or the items that the organization has for them through the viable center on the discernment about sexual orientations. So as to viably achieve the purchaser advertise, organizations are utilizing best system through big-name support, internet-based life and other media helping organizations to locate the most extreme buyer who is in the need of the items and also the gadgets.

On the grounds that there are no compelling clients and friends along these lines, don't achieve the coveted objectives; as target showcase can't be given viable data about the items and also alternate administrations. It is examined that little significance to the advertising relative in the organization can lead the organization to confront the disappointment, as along these lines different activities of the organization can likewise confront the issues in the authoritative condition.

Some companies only consider that marketing increases their expense and reduces their profit margin on the sales of the company. Marketing is not the easy task that everyone can do. It requires the marketing expert's team and workers that work on the social media or other platforms to directly interact the customers in an effective manner. Therefore companies perceive that hiring more employees only for the marketing purpose will increase their overall expense. In accordance with these companies, marketing only consumes cash of the company and resulted in nothing. Such companies only pay importance to their quality of the products and consider that good quality can increase their sales of the products.  

Sometimes companies also plan that rather than making recruitment or hiring someone from the external environment just for the marketing tasks it is better to assign the tasks of marketing to someone working in the organization in another department. Companies assign simple marketing tasks to them to do in the free time or after completing heir daily tasks. Thus they do not add marketing to their hierarchy of the organization. Companies having such policies resulted into poor attention towards marketing. Effective marketing demand continues and complete importance of the company. Anyone working on marketing in his/ her free time cannot fulfill the need of the marketing especially when the company is operating in the highly competitive market.

Actually, a number of companies are not familiar with the importance of marketing. Marketing can rapidly enhance the sales of the company and develop a competitive advantage. In the highly competitive markets marketing products and services is as important as the quality of the services or products to remain competitive and sustained in the market. In some organizations, such issues happen because of the lack of attention of the corporate level management. When investors show only concerns with the profit rather than bringing improvement in the image of the company in the market. They put aside the need for marketing for their company. As a result of these companies face problems in the market. Lack of importance and interest for the marketing decreases the value of the business in the market.

Competitors that pay importance to the marketing promote their products and services. They market through presenting the features, advantages, and warranties. Thus they easily cover the market shares with the better percentage than the company who do not pay enough importance to the marketing in their hierarchy. The company without marketing cannot build customer equity and customer satisfaction that has the significant role in the success of the companies. Without marketing sales of the company goes towards decline as the customer starts switching to the products or services of competitors as they consider that sales of competitors are increasing because their products are better than the products of the company they were using.     

In order to reasonably accomplish the buyer publicize, associations are using best framework through enormous name bolster, web-based life and other media helping associations to find the most extraordinary purchaser who is in the need of the things and furthermore the devices. Otherwise, companies could face issues and there could be decreases in the product management and company operation if marketing is not done effectively (Ferrell & Hartline, 2013).

2. Defend or contradict this statement: Developing marketing strategy is more important than implementing a marketing strategy because if the strategy is flawed, its implementation doesn’t matter.

I agree with the statement that “developing marketing strategy is more important than implementing marketing strategy” because when there is an effective development of the strategies, then there could be an effective implementation of the strategies. However, it is known that if there is no effective making of the strategies then companies could face the issues. Rebate in the promotion with the clients as far as influencing them to trick by giving them wrong thing and show them about the item that it is the best thing on the planet and it is the point at which you utilize it you can make it the best due to making it particularly appealing and intuitive for the clients.

Development of the marketing plan or strategy is more important than the implementation as plan provide guideline and marketing managers design the pattern of implementation according to the strategic planning. Furthermore, at the stage of marketing strategy development companies consider the values and mission of the company. The company rejects the policies and strategies that go against the mission of the company.

As a defender for the importance of marketing strategy on implementation of the plan here could be presented a number of example from real life stories that project that marketing strategy development is more important than the right implementation of the strategy. For instance, during 2016, Walmart faced a trouble in the market just because of the wrong marketing strategy. The company introduced a new cake with the flag of ISIS. The strategy was sell out more cakes with the ISIS flag that was quite unacceptable because at that time ISIS was involved in killing in Syria and Iraq. 

In the example of Walmart marketing strategy was wrong even the implementation was made with the best efforts. Basically, the success of the marketing strategy depends on the effectiveness and efficiency of the strategy. If the marketing strategy is unethical and against the moral values than it is not worth taking how implementation is made. Another example is related to the marketing strategy of the McDonalds in the United States.

 In 2016, McDonald's the famous fast food restaurant launched a new marketing campaign. The marketing strategy was to grab the attention of the United States through presenting the billboards across the United States. But it went wrong because of the wrong planning. They also included the 9/11 attack effects in the advertisement (Favaro, 2012). As a result of this, they faced criticism from the target audience as people said that they are trying to capitalize on the biggest tragedy of the New York history. In this example, McDonald developed the wrong strategy to include tragedies in advertisement even when the ad was presented in the efficient way McDonald faced criticism for the wrong strategy.   

Marketing strategy also supports the company in developing the competitive advantage. Companies that really concerned about the marketing strategies are earning high return form the market. Companies, therefore, spend the huge amount of money on the development of strategies as they take the assistance and services of the professional marketers to develop effective strategies. Marketing strategy is like the plan to reach a destination. While the implementation is like to work through different ways to reach that destination. A wrong selection of the destination and wrong method to reach the destination both can be problematic for the company. Therefore we cannot say that implementation does not have importance in the marketing plan. In fact, both have great importance but strategy development is more important as it decides how implementation will be made and when it will be implemented. Indeed it provides the complete guide to the implementation.

As the companies are creating the advertisement that is misleading the people or consumer, or there is existing behavior that can be seen in the advertisement. The companies are not following the laws, and not making the effective strategies. The most imperative thing is that they will publicize the things legitimately and precisely and in addition, they will have the capacity to buy the things appropriately and effectively. The primary concern about this is the laws are the things that make the working simple for them as they will deal with the showcasing of the things viable (Ferrell & Hartline, 2013).

It is analyzed through the consideration that the company needs to develop a strong marketing plan so that the company then could implement the marketing plans in a successful manner. The marketing strategies first need to be efficient and effective so that there could be further effective implementation because based on that company could grow and can earn profitability. The effective marketing strategy will result in the positive marketing growth. There are morals of doing promoting for the organizations and the items you use for the business. Each business must take after those morals that in the event that he doesn't take after that the business won't have the capacity to appropriately gain the income that it ought to procure keeping in mind the end goal to be made with the correct promoting in them (McDonald, 2009).

Since when there is a viable advancement of the systems, at that point there could be a powerful execution of the procedures. In any case, it is realized that if there is no compelling making of the methodologies at that point organizations could confront the issues. Effective marketing strategies can make effective implementations; advertising makes individuals mindful of the things that make them effective about the things that have the most ideal answer for their makings.

The most imperative reality is that we will deal with the offer of our item with best-regularly promoting and advertising instruments so they can perform well and builds the offer of the results of our business. It is broke down through the thought that the organization needs to build up a solid promoting plan with the goal that the organization at that point could execute the advertising designs in a fruitful way. The powerful showcasing system or the advertisement or marketing will bring about the positive advertising development. The morals incorporate the route with which showcasing ought to be done keeping in mind the end goal to get the best outcomes and the most vital thing is that it expands the offer of your item and it encourages the general population to do the working most adequately for the need and solace of the general population (Ferrell & Hartline, 2013).

3. What are some of the potential difficulties in approaching strategic planning from a balanced perspective? Isn’t financial performance still the most important perspective to take in planning? Explain.

There can be various difficulties in approaching strategic planning because if companies do not make the effective strategic plans there could be issues in the companies and there will be no management from a balanced perspective. However, it is analyzed that the product managers need to be involved in the marketing plans so that there could be effective decision making and so that there could be beneficial operations focused by the companies. However, effective planning is necessary to focus on the managers in order to undertake effective operation related to the brands, channels etc. other benefit plans may include that there ought to be better examination of the objectives and technique and innovation should be actualized in the way, so that there could be prioritization of the objective records thus that powerful choice.

For the effective planning, the customer group, ventures and their backers fabricated the establishment for the tasks' prosperity and supportability or the effective connections with them also need to be concerned for the effectiveness. Moreover, it is analyzed that an effective marketing plan can help the companies in order to achieve its goals as there could be the effectiveness of the companies in the marketplaces. The companies need to effectively focus on their marketing objectives so that there could be tactical guidelines by the managers and planning could be effectively done based on the potential difficulties.

There is the need for the companies to make the plays based on the approaching effective strategic outcomes. Moreover, if there is effective planning then companies could win reliable companionships from different colleagues. With a specific end goal to get viability in the market and keeping in mind the end goal to get an upper hand, there will be an alternate center methodology (Ferrell & Hartline, 2013).

Effective marketing plans can help the companies to focus on the public awareness as well as the effective business plan through focused on the financial budget. For the effective planning company should prepare new individuals by enlisting productive mentors that know all the new angles in identified with the arrangement of new innovation to execute into the association. This will enhance the productivity of the association working and builds the benefit of picking up proficiency in the association. The more representatives on these offices to be given by the association. The legitimacy constructs procuring is depends with respect to your capabilities and in addition on the working productivity and experience which you have in your past assuming any.

In approaching strategic planning financial performance has significant value. While financial performance cannot be considered as the only difficulty for approaching strategic plan there are other difficulties also as unavailability of the human resources and material resources. While all these have limited impact on strategic planning. The biggest difficulty is really concerned with the financial performance. According to the concepts of balance strategic planning, there are two types of assets that both are equally important for the company.

In the strategic planning companies most of the time only pay focus to the tangible assets as cash, and plant assets. Tangible assets increase the worth of the company. But at the same time, intangible assets are also equally important for the success of the company. Intangible assets like the customer's satisfaction, information, relations in market and innovation are also important. Intangible assets increase the goodwill of the company in the market that play the role of competitive advantage for the company.

In making strategic planning usually managers ignore the importance of the intangible assets (financial performance) that is equally important for the balance strategic planning. Without relations in the market and innovations in the products and services of the company business growth cannot be increased. Customers are concerned with the innovation and high-quality products that ensure their needs satisfaction. Therefore it is clear that financial performance works as the difficulty for the company while approaching to the strategic planning in the accordance with the balance strategic planning.

Companies following the old traditional approaches consider that they should only focus on the strategies that result in the increase in tangible assets. For them, success is the increase in the market price of their shares, high stock prices and satisfaction of the shareholder because of the huge profit as dividend. such companies ignore that value building for the stakeholders of the company produces long-term advantages for the company while the focus on the shareholders generates short-term benefits.

When companies develop marketing strategies that benefit the shareholders through increasing stock prices and ignore the social corporate responsibility they earned the results the decline in the growth of the business. Customers prefer to purchase from the companies that pay importance to their needs and social responsibilities rather than just generating profits for their shareholders. Therefore successful companies ever try to develop strategies that support the social values and their stakeholders including customers and the society in which they operate.

Balance strategy planning supports the idea that companies should focus on both types of assets if they want to stay competitive. All-time focusing on profit only draws the negative impression of the company on its customer. Sometimes companies should develop the strategies for marketing that encourage the increase in customer satisfaction and other intangible assets. And for the purpose to approach balanced strategic planning they should forget the financial performance. Management of the organizations should focus on the increase in both intangible assets and tangible assets equally to stay sustained and successful in the target market.  

Another difficulty is related to the capabilities of the management. In most of the organization, management is familiar with the importance of the intangible assets but they are not aware of how to balance both. While focusing more on the intangible assets they sometimes ignore the tangible assets as a result company again face the issue. Other than these another difficulty to approach balance strategic planning is the external influence. Shareholders/ investors of the company want the rapid increase in the equity and tangible assets as they want the high amount of dividend. Such a situation generates difficulty for the management to approach balanced strategic planning.                          

Effective planning and consideration of the financial tasks help the companies to focus on developing association, it is vital for the association with a specific end goal to accomplish the best target, which is required they should center around contracting the great staff for preparing new workers in the association as indicated by the new innovations and systems present or created in the market for the making of your required item for the clients.

Every alternative has its own particular worth in the association on the off chance that anything disregarded then it costs awful to the association. I prescribe justify based contracting as it makes the working productivity of the association great and makes agreeable to every one of the representatives that their rights won't be ignored in this association WE will be dealt with similarly as others (Gilligan & Wilson, 2012).

References

Drummond, G., Ensor, J., & Ashford, R. (2007). Strategic Marketing: Planning and Control. Routledge.

Favaro, K. (2012, 06 01). Strategy or Execution: Which Is More Important? Retrieved 07 22, 2018, from www.strategy-business.com: https://www.strategy-business.com/article/cs00005?gko=733e9

Ferrell, O. C., & Hartline, M. (2013). Marketing Strategy, Text, and Cases. Cengage Learning.

Gilligan, C., & Wilson, R. M. (2012). Strategic Marketing Planning. Routledge.

McDonald, M. (2009). Marketing Plans: How to Prepare Them, how to Use Them. Elsevier.