Marketing :

1 Marketing Strategic Alliance A strategic alliance takes place where two or more companies agree to share resources and cooperate to achieve specific objectives while remaining independent parties. A strategic alliance enables companies to share resources such as distribution channels, capital, knowledge, products, talent, and production capacity. The partners in a strategies alliance expect that the benefits derived from being part of the alliance will be greater than their individual efforts (Bowden, 2017). The companies involved in an alliance possess strengths and assets that complement each other hence increasing their value and enabling them to maintain a competitive edge, and compete more effectively.

Difference between Market Penetration and Market Development Market penetration and market development are strategies that facilitate company growth. The concepts were introduced by Igor Ansoff in the mid-20th century to explore the tactics that can be used to grow a company. Market penetration refers to the use of various marketing strategies to widen the existing customer base.

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2 When companies intensify their market penetration offers, their aim is to sell more of their products to the current customers. The strategies involved include; aggressive sales efforts and advertising. Market development, on the other hand, is the process through which a company seeks to sell the same product to a different market. The main objective of this strategy is to widen the market share by acquiring new users for the company’s products.

Marketing Approaches Marketing approaches are the strategies used by companies to gain the attention of their market to the features of a product and the benefits derived from its use. Companies design marketing approaches with the main objective of selling to the niche market that is most favorable to them, thus increasing their market share and making more sales. Selecting an appropriate marketing approach enables a company to operate more effectively. Two types of marketing approaches are; B2B vs. B2C and Local vs. International.

B2B marketing occurs whereby businesses sell directly to other business, while B2C occurs where businesses sell to their consumers without the use of intermediaries. B2C sales are executed faster, and the costs involved are usually lower. B2B sales are often more complicated and have higher costs since each of the parties involved in the sales funnel has to mark up their price (Kotler, & Keller, 2016). The second marketing approach is Local vs.

International Marketing. Local marketing involves selling products and services within a restricted region, while international marketing involves selling products to a wider international audience.

Legal Obligations that are Relevant to Marketing Companies need to be aware of the laws and regulations that are related to their marketing efforts. One of the fundamental laws in marketing is to ensure that the contents of

3 an advertisement do not give a false picture of the features of product or service, such as its price and capabilities. In some countries, companies have to get a local advertising permit prior to promoting a product. Companies must also ensure that the products and service that their products, services and marketing activities do not violate consumers’ rights.

4P’s of Marketing Mix The use of a marketing mix is an effective approach to ensuring that the company creates the right products, assigns the right prices to them, puts them in a location that is conveniently accessible to customers, and uses the right promotional techniques (Lawrence, & Weber, 2014). The P’s are therefore; price, place, product and promotion. When executed effectively, the four P’s make the relationship buyers and sellers mutually beneficial.

4 References Bowden, J. (2017). The Process of Customer Engagement: A Conceptual Framework. Journal of Marketing Theory and Practice, 17(1), pp.63-74.

Kotler, P., & Keller, K. L. (2016).Marketing management (15th ed.). Upper Saddle River, NJ: Pearson.

Lawrence, A. T., & Weber, J. (2014). Business and Society: Stakeholders, ethics, public policy. McGraw-Hill Education: New York.