This marketing strategy case involves a company based in the United States that both manufactures and exports commercial fertilizer products. A recent and dramatic decrease in demand in the company's primary export market has promoted an expedited assessment of the company's marketing situation. The first part of this case response to the company's situation involves a review (theoretical) of the elements of a sound marketing planning and strategy development process. The second part of this case response involves the consideration of practical strategy options that the company could implement to address its current problem.
Review (Theoretical) of the Elements of a Marketing Planning and Strategy Development Process
The end product (or deliverable) of a marketing planning and strategy development process is a strategic marketing plan. The end outcome of a strategic marketing plan is the degree of marketing success attained by the implementing organization (Drummond, Ensor, & Ashford, 2001).
The marketing planning and strategy development process begins with a review of the current situation in which a company finds itself. The review of the current situation must consider the company's position in relation to its mission, vision, and objectives. At best, the results of the review of the company's current situation may indicate revisions in market definitions and the strategies designed to exploit the opportunities associated with the markets targeted by the company. At worst, the results of the review could require the company to consider revisions to its mission, vision, and objectives to realign the company with changing realities in its external environment (Gilligan & Wilson, 2003).
Regardless of the direction for the company indicated by the review of the current situation, the next steps in the marketing planning and strategy development process involve (a) assessing the opportunities and threats in the comp...