The paper "Strategy Marketing and Strategic Plans" is a worthy example of an assignment on marketing. The success of a company is determined by the strategic plans that individual businesses embrace. As a matter of fact, companies that employ creative and innovative approaches over traditional planning perform considerably better in the present markets. Google Inc. , for example, has developed over the last few years surpassing existing companies and consequently controlling markets. This fete is attributable to not only innovation but also on a number of factors. Arguably the most notable shift from traditional approaches, Google develops its products with the consumer in mind and not considering the commercial impact of the product.
Google’ s aim is to ensure that information seekers access what they need. Whereas this approach contradicts the traditional business ethos, its main advantage is that new products are available to the user and the company rakes in more advertisement revenue (Ferrell, Fraedrich and Ferrell 2011, p. 91). Scholars agree that before formulating strategies; a company ought to consider the business environment and the impact of the plan on the vision and the objectives of the company.
This enables the business to build a sustainable competitive advantage. Google is the major search engine that most surfers prefer, apart from this, the company is aware that developing other products around the search engine adds more clientele and expands the advertisement space. The company overcomes the weakness of this approach by including more products namely: Google maps, scholar and mail. Unlike its competitors, Google exploits not only the internal organizational structures and resources but also ensures it is ahead in innovation and retains consumer confidence.
Lamb, Hair, and McDaniel (2012, p. 41) observe that sustainable competitive advantage enables companies to serve a given market segment and in the process, the company curves a niche. In its first initial public offering (IPO), Google’ s shares traded at a paltry $84; however, after one year, the company’ s shares traded at $400. This is an indication of a market leadership strategy. In addition to this, the company has acquired and partnered with different companies in a bid to raise its market strength. In this essence, the company has a sound market leadership strategy that ensures that it leads to innovation, integrates cutting edge technology and customer satisfaction is guaranteed.
To be steadfast in innovation, the company has equally introduced revolutionary online search products and as well as influenced evolutionary trends in the market. Google allows its employees to create new products and have their free time to develop. Ultimately, the creativity of each employee is integrated into the company’ s existing products. This is advantageous to the company in that the employees are motivated and are consequently effective and efficient.