Marketing and Human Resource Management Strategy

Martin

2 years ago

Marketing and Human Resource Management Strategy

Verizon Communication Inc.’s marketing strategy will focus on the company’s products. It will create awareness of the unique features of the company’s services to attract customers through value proposition. The product marketing strategy will follow four product life-cycle phases. The first phase will be the pre-launch and introduction phase. This phase includes conducting market research, defining the target audience of a specific product, determining the product roadmap, designing the strategy for generation demand, and testing a product’s early stages (Dobers & Hesse, 2009). The second phase will be growth. The growth phase includes expanding the customer base, acquiring constructive feedback, and developing new product features and functionalities. The third phase will be maturity. It has recapped the marketing strategy, designed and developed the maximum sales growth strategy, and enhanced messaging across different target audiences (Dobers & Hesse, 2009). The fourth phase will be the decline phase. It includes introducing new product features, reducing prices, ret,aining the product in the market, and ending product improvements.

According to Stewart & Brown (2019), human resource strategy includes a plan for managing human capital in an organization and aligning it with business activities. The loyal soldier HR strategy will ensure the company has qualified staff to maintain operations in the foreign market. Oppong (2017) defines the dedicated soldier HR strategy as a human resource management strategy that includes hiring employees early in their careers and giving them extensive training to equip them with different skills required to complete the tasks in an organization. The company will retain employees from the acquired company and train them on the necessary business practices based on Verizon Communication Inc.’s culture and structure. Employees will be rewarded for meeting their targets to be motivated to be more productive and meet the organization’s goals. Employees will also be given long-term benefits and incentives to reduce employee turnover and maintain high productivity.

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References

Dobers, K., & Hesse, K. (2009). Product life cycles. Technology Guide, 402-405. https://doi.org/10.1007/978-3-540-88546-7_75

Oppong, N. Y. (2017). Exploring the importance of human resource activities-strategies alignments: Interactive brainstorming groups approach. Cogent Business & Management, 4(1), 1273081. https://doi.org/10.1080/23311975.2016.1273081

Stewart, G. L., & Brown, K. G. (2019). Human resource management. John Wiley & Sons.

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Question

Poor marketing and human resource management can make or break a firm’s international entry. Based on the assigned readings in Chapters 16 and 17, identify and describe a single marketing and human resource management strategy used with your global expansion plan.