Raytheon Company – Strategic Marketing Evaluation
Module: Strategic Marketing
Module code: UGB335
Introduction
The Raytheon Company is a Massachusetts based company specializing in defense, with concentration in weapons and military and commercial electronics.
The company has nine subdivision dealing in missile defense, command and control, sensor and imaging, cyberspace technology, electronic warfare, precision weapons, plus three more in terms of services covering training, mission support and innovation.
The defense industry, unlike other industries is a unique and challenging industry, where companies compete among themselves through their specialized product offerings, whilst customers are non-commercial, secretive and highly demanding.
The Raytheon Company has customers globally in 80 countries, with 19 offices and four establishments in Australia, Germany, United Kingdom and United States.
In different parts of the world, the company serves different markets. For example, in Americas and Europe, the company focused strongly in missile defense, while in the Middle East, the company focused more on technology development and supporting services. On the other hand, in Asia Pacific, the company focused on innovation, missile defense and air-traffic among others.
Source: The Raytheon Company, 2017 /https://www.raytheon.com/
Task:
Analysis of strategic marketing context and critical evaluation of challenges to successful Strategic Marketing of The Raytheon Company
Drawing and building on your understanding of strategic marketing theory and undertaking secondary research into the company, market and sector, you are required to analyse The Raytheon Company’s marketing strategy, evaluate its success and examine the strategic marketing challenges the company faces in the future, in the missile defense and military technology.
To underpin your analysis of the company’s strategic marketing you must APPLY selected elements of theory covered in this module – note you must determine which are critically important to the company’s success and focus on these.
You must:
- Apply appropriate strategic marketing theory and models to examine the sector, the market and the company using suitable academic articles and texts
- Apply appropriate strategic marketing theory and models to evaluate the challenges facing the company in the future using suitable academic articles and texts
- Undertake suitable secondary research into the sector and market using appropriate secondary sources (non-academic)
- Refer to theory and practice in order to support your strategic marketing assessment
- Submit as a written report
- Word count is 4,000 words (+/- 10%)
- Further details will be provided in class and on the module VLE Assessment section
Guidance:
As such, the first part of this report (40%) must address The Raytheon Company’s (Missile Defence and Military Technology) strategic marketing context and should include*:
- Situational Analysis focusing on in-depth examination of company, competition, customer and context:
- Critical company analysis of The Raytheon Company in general and its defence division specifically, examining the company’s mission/vision, strategies, competences and competitive advantages by applying the Resource Based View (focusing on the Intangible / Marketing Resources), as well as complementary aspects of strategic marketing theory
- Critical Competitive Analysis – including competitor profiling, strategies, competences and clusters/positioning, paying particular attention to the defence division of the company.
- Critical Customer Analysis – segmentation, targeting, positioning, by concentrating on the military, defence and security in the global market context.
- Critical Contextual factors/issues from the defence market context (key market structure, trends, issues)
- You MUST use tables and appendices to demonstrate your evidence and evaluation and make reference to these in the body of your report (analysis and discussion)
- It is suggested that this section is 1,500 words approximately
- Please note – this is NOT a Corporate/strategic management assignment, and as such should focus on strategic marketing theory, concepts and models rather than generic models (NOT PESTLE, 5 Forces, SWOT)
The second part of this report (60%) must consider the challenges facing Raytheon in achieving strategic marketing success in future should include*:
- Consideration of Directional and Growth strategies (including global/international marketing)
- Examination of some but not all of the module’s key topics:
- Value – core concept throughout the second part
- Branding Strategies,
- Innovation Strategies,
- Relationship Strategies,
- Service Strategies,
- Social & Ethical Strategies (select 2-3 of these to concentrate on)
- You must refer to suitable theoretical models and concepts to underpin your discussion
- You must refer to appropriate academic articles and texts relating to strategic marketing and your chosen topics
- You MUST use tables and appendices to demonstrate your application of the key academic themes/theory to the (secondary) case evidence to support your evaluations
- It is suggested that this section is 2,500 words approximately
- Please note that the Marketing Mix is not suitable at this level or relevant to this work
*Please note that these are not suggested headings/sub-headings and you are advised to determine your own headings to include these points
The above MUST be underpinned by credible supporting evidence (non-academic secondary) AND application of appropriate strategic marketing theory
SUPPORT: Assessment Guidance will be provided in the lecture and seminars
Learning Outcomes
The following learning outcomes will be tested in this assessment:
Knowledge
- Critical understanding of advanced marketing strategy and its significance in variety of contexts (global and local)
- Assessment of the drivers affecting choice and implementation of marketing strategy
- Evaluation and application of appropriate theories and models underpinning the strategic marketing process in an organisation
- Evaluation of strategic options and planning of effective strategic marketing programmes for survival and sustenance of different organisations (public sector and private sector)
Skills
- The ability to develop appropriate research and analytical skills
- Creative, innovative, critical thinking and effective communication of complex ideas