Marketing Capabilities And Firm Performance -Myassignmenthelp.Com

Question: Discuss About The Marketing Capabilities And Firm Performance? Answer: Introduction Strategic management can be defined as the process by means of which the various companies as well as the organizations formulate and implement the various strategies on behalf of its shareholders and owners (Hair et al., 2012). The development of these strategies usually involves an analysis of the market situation as well as the external and the internal environments of the operations or the company concerned. The company selected for the study of strategic management is Kill_Kapture. The company Kill_Kapture, founded by Mark Wales, an ex-SAS officer, who served in the Australian campaign of Afghanistan, is one of the famous companies in the Australian fashion industry ("Our Story", 2018). The products manufactured by the company, like its leather jackets are priced at $1,500, thereby making it a luxury product among the Australian citizens ("Our Story", 2018). Mark Wales, incorporated the design of the jackets used by the soldiers during the Afghanistan campaign for the designing of his first product, the Pathfinder Jackets ("Our Story", 2018). The company is also operational in the United States and the kangaroo leather jackets manufactured by the company in US are 10 times stronger than the ordinary ones ("Our Story", 2018). The products manufactured by the company are designed taking into consideration the needs as well as the requirements of the customers and also the latest trends in the fashion industry (Prez, del Bosque, 2015). It is a reflection of this fact that the company promotes its Pathfinder Jackets, through the advertisement, which features James Mattis, popularly known by the name of Mad Dog, a decorated officer of the US Marine Corps ("Our Story", 2018). The company manufactures its products taking into consideration the requirements of the customers in the age group of 30 years to 40 years ("Our Story", 2018). The products manufactured by the company designed specifically to cater to the needs of the war veterans. However, the jackets manufactured by the company are also very popular among the civilians as well. The primary focus of the company is on the war veterans, fire-fighters, naval officers and others belonging to the defense sector ("Our Story", 2018). Moreover, as the products manufactured by the company are very expensive, therefore, the economic status of the customers also matter. The targeted customer base of the company is therefore the rich war veterans belonging to the age group of 30 to 40 years of age ("Our Story", 2018). It is to be noted that in the United States alone there are more than 22 million war veterans ("Our Story", 2018). The remark of Mark Wales is pertinent here, We want to be an uplifting source for veterans - we want to show them that we understand that its not easy to re-enter society and that its also important to take their amazing skills and put them to good use ("Our Story", 2018). The company in order to capture as well as retain the customer base provides profit margins and costing benefits to the customers. Psychological segmentation can be defined as the process by means of which the target customer base is fragmented or divided on the basis of personality traits like attitudes, interests, values, lifestyle habits and various other aspects (Husermann Schwander, 2012). The process of psychological fragmentation helps the companies or the organizations to design as well as manufacture their products and services as per the psychological needs and requirements of the customers (Gellynck et al. 2012). The company Kill_Kapture, for the manufacture of its products like Pathfinder Jackets, Kangaroo Jackets and others takes into consideration the psychological requirements of the target customer base ("Our Story", 2018). It is to be noted that the target customer base of the company is the war veterans, fire-fighters, naval officers and others defense personnels belonging to the age group of 30 to 40 years of age. It is to be noted that the owner of the company, Kill_Kapture, Mark Wales, desi gned the jackets based on the ones, which he himself used during the Afghanistan campaign of Australia, in which he participated ("Our Story", 2018). Thus, it can be said that during the process of designing of the jackets the psychological requirements of the war veterans were taken into consideration, that is, the target customer base on which the company focuses its attention. Self orientation can be defined as the process by means of which a company or an organization takes into consideration the various concepts of trustworthiness, reliability, intimacy and credibility (Righetti, Finkenauer, Finkel, 2013). There are two kinds of self orientation- low self orientation and high self-orientation (Gonzlez-Benito, Martos-Partal, 2012). The process of low self orientation is often used by the companies as well as organization to win the loyalty as well as the trust of the customers (Theodosiou, Kehagias, Katsikea, 2012). Therefore, the company Kill_Kapture uses the concept of low self-orientation to win the loyalty as well as the trustworthiness of the customers ("Our Story", 2018). It is to be noted that the company Kill_Kapture focuses its attention on the customer base of the war veterans who are in the age bracket of 30 to 40 years of age ("Our Story", 2018). There the trustworthiness as well as the loyalty of the customers becomes very important in thi s respect (Ciribeli, Miquelito, 2015). This factor enables the company to retain its customer base and at the same time to increase its profit margin (Vivek, Beatty, Morgan, 2012). Targeting strategy can be defined as the strategy by means of which the various companies or organizations select their potential customer base in order to design as well as sell their products and services to those targeted customer base (Hair et al., 2012). The targeted customer base for the company Kill_Kapture are the war veterans, fire-fighters, naval officers and other defense personnels belonging to the age group of 30 to 40 years ("Our Story", 2018). The process includes four different stages namely, selection of the population, differentiation, concentration and finally individual marketing. Therefore, if a look at the targeted strategy of the company Kill_Kapture is taken it will reveal that the company initially took the entire population belonging to the age group of 30-40 years. The next stage was the differential on the basis of their profession like whether they are civilians or defense personnels. The third stage involved the classification on the basis of income stat us. The final stage was gave the company its final targeted customer base. Therefore, from the above discussion it becomes clear that the concept of marketing strategy forms an important aspect of the various companies as well as organizations. The companies also need to take into consideration the various needs as well as the requirements of the customers for the manufacture of their products and services. The proper selection of the target customer base is also very important as the company needs to design and market their products and services as per the needs of those customers. 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