Strategy Management in the course Purchasing and Logistics Essay

Strategy Management in the course Purchasing and Logistics - Essay Example Another strategy for them to adopt is marketing strategy which is a very powerful measure to give them an added competitive advantage in the business arena. Consequently it will allow the organization to focus on concentrating its resources on the greatest opportunities so as to boost sales and attain a sustainable competitive advantage.1 Marketing strategy can be termed as a high-level formula involving the "generals" of the organization in determining how to bank and upgrade the firms strengths while taking advantage of its opponents/ competitors weaknesses. Barclaycard should therefore consider making e marketing strategy a major component of their various strategies. This is because the strategy will define how Barclaycard will engage its clients, predictions and the overall competition in the marketing field for assured success. A marketing strategy will serve as the base of a marketing plan. The plan contains a set of specific actions necessary to successfully implement a specific marketing strategy. For example: attaching low price tags to their products so as to attract more customers. Once the organization establishes a relationship with consumers, it will sell additional, higher-margin services which will enhance the consumers interaction with the low-cost service. The marketing strategy will adequately integrate Barclaycard’s marketing goals, its policies, and sequences of action into a solid whole. The strategy’s objective will be that of providing a foundation for the development of a tactical plan, thereby allowing the e organization to effectively and efficiently carry out its mission. The strategy should flow from the organizations mission statement since the strategy is derived from much broader corporate strategy, missions and goals With every marketing strategy being unique, both generic and specific strategies can be categorised in a number of ways. Michael Porter categorized the strategy on the dimensions of strategic strength and