...Decisions Price floor: minimum price Price ceiling: maximum price Optimum prices: function of demand Global Marketing Chapter 11 Must be consistent with global opportunities and constraints Global Marketing - Schrage Basic Pricing Concepts Market Price Strategy Law of One Price would prevail in a truly global market International trade helps keep prices low and low prices keep inflation in check Global markets exist for certain products—integrated circuits, crude oil National markets reflect costs, regulation, demand, competition— beer May make or break your profitability May not be able to use the same strategy Internationally as Domestically Global Marketing - Schrage 11-3 Global Pricing Objectives and Strategies 11-4 Global Marketing - Schrage Market Skimming and Financial Objectives Managers must determine the objectives for the pricing objectives Market skimming Charging a premium price May occur at the introduction stage of product life cycle Unit sales Market share Return on investment They must then develop strategies to achieve those objectives Regain investment in R&D and product development faster Penetration pricing Market skimming Global Marketing - Schrage Global Marketing - Schrage 11-2 11-6 11-5 1 Penetration Pricing and Non-financial Objectives Companion Products Products whose sale is dependent upon the sale of primary product Penetration pricing ...
Words: 1886 - Pages: 8
...AGENDA BUSINESS PLANNING 1. PLANNING FOR A MEETING, TRADE SHOW, EVENT 2. 1 PAGE BIZ SUMMARY-challenging exercise to narrow the scope of the business idea and summarize 3. SNAPSHOT OF A BUSINESS PLAN-details of the sections of a table of contents sections 4. Outline Table of Contents 5. 11-1 TO 11-11 SUM helps research and develop information to complete in chart formats the key information for your written business plan; some charts may be used in your full plan and in your presentation 6. WEB SITE RESOURCES help with information and samples on business plans |EVENT/TRADE SHOW/ MEETING PLAN | | | |DATE: | |NAME: | |LOCATION: ...
Words: 3190 - Pages: 13
...Economic Development AOE Team January 11, 2002 Place Marketing The challenge of place marketing is to strengthen the capacity of a community or a region to adapt to the changing marketplace, seize opportunities, and sustain its vitality. Place marketing succeeds when stakeholders such as citizens, workers, and business firms derive satisfaction from their community, and when visitors, new businesses, and investors find their expectations met. January 11, 2002 2 Core Activities of Place Marketing Designing the right mix of community features and services Setting attractive incentives for the current and potential buyers and users of its goods and services Delivering a place’s products and services in an efficient, accessible way Promoting the place’s values and image so that potential users are fully aware of the place’s distinctive advantages January 11, 2002 3 Strategic Place Marketing Organize a planning group of citizens, business people, and local and regional government officials. Define and diagnose the community’s condition, its major problems, and their causes. Develop a vision of the long-term solutions to the community’s problems based on a realistic assessment of the community’s values, resources and opportunities. Develop a long-term plan of action involving several intermediate stages of investment and transformation. January 11, 2002 4 Strategic Place Marketing (2) The long-term solution involves improving four major marketing factors found in every community...
Words: 1753 - Pages: 8
...e-Marketing Project : Option 2 Marketing is the life blood of any organisation. Outline and describe the process of marketing with particular reference to services marketing and outline a marketing plan for a services organisation. Introduction There are many complex definitions and ideas of what marketing actually is, but a simple and concise one is: Marketing is “the commercial processes involved in promoting and selling and distributing a product or service” (Dictionary.com). In the context of services marketing, there is no “out of the box” product, which can be just purchased by a potential customer, so the marketing process is slightly different; however, the same rules apply. In this project I am going to address a general description of the marketing process, a brief look at how some services companies do their marketing, with particular focus on the software solutions division of the global multi-national Accenture, for whom I previously worked, so I will be talking largely from personal experience when referring to them and the online auction site eBay, of which I am an extremely regular user, buying on average 2 items per week from their site. Finally, I will outline a short marketing plan for a fictional software development services company. I will conclude just how important marketing is to any services organisation. Main Body The Process of Marketing Step 1 – Market Research In first step in any process is nearly always information gathering...
Words: 2790 - Pages: 12
... | Contents 1. Introduction 2. Mission Statement 3. Marketing Audit 1. Macroenvironment 1. Politics 2. Economic 3. Ecological 4. Social 5. Technological 2. Microenvironment 1. Competition 2. Suppliers 3. Customers 4. SWOT Analysis 1. Strengths 2. Weaknesses 3. Opportunities 4. Threats 5. Marketing Objectives 1. Strategic Thrusts 2. Strategic Objectives 6. Core Strategy 1. Target Marketing 1. Segmentation 2. Targeting 3. Positioning 2. Competitor Targets 3. Competitive Advantage 7. Marketing Mix Decisions 8. Organisation and Implementation 9. Control 10. References 11. Bibliography 12. Appendices 1. Introduction This report will provide you, as McDonalds, with a full marketing plan identifying the key issues. In this plan we will critically analyse each stage of the marketing planning process, and suggest possible strategy changes which you may wish to consider. We will set examples with theories throughout the plan and compare existing marketing decisions with our recommendations and the importance in building and maintaining your competitive advantage. 2. Mission...
Words: 5549 - Pages: 23
...Complete the Learning Team Charter. Objectives/Competencies 2.1Identify the components of an effective marketing plan. 2.2Conduct a SWOT and competitive analysis. 2.3Apply the market research process in discovering and answering business questions. 2.4Apply a segmentation model to create a target market and develop a positioning statement. Learning Activities Required Reading Basic Marketing, Ch. 2 43 Reading Basic Marketing, Ch. 3 14 Reading Basic Marketing, Ch. 4 11 Reading Basic Marketing, Ch. 7 10 Reading Basic Marketing, Ch. 18 7 Discussion Favorite Brand Discussion 24 Discussion Product and Organization Selection and Approval 6 Discussion Research and Discussion 3 Video The Five Competitive Forces That Shape Strategy 1 Video Target: Inside the Bullseye 2 Video Positioning 11 Video Marketing Research and Segmentation 4 ERR Week 2 Electronic Reserve Readings Assignments ASSIGNMENT STATUS FRIENDLY NAME TITLE DUE DATE POINTS UNREAD COMMENTS Participation Week 2 Participation Due Jul 28, 11:59 PM /3 Presentation Marketing Mix Presentation Submitted /5 5 Paper Personal Branding Plan Paper Due Jul 28, 11:59 PM /5 Total Points /13 Course Progress 4.7 / 8 (58.75%) of points so far 100 points total All Assignments » Course Overview Jul 15 - Aug 18 This course develops an understanding of the complexities an organization faces in establishing and implementing marketing strategies within both...
Words: 19836 - Pages: 80
...Case Review: Rohm and Haas 11/4/2010 Background 2 1983: $2B worldwide sale from 4 segments Kathon microbiocide products: $25M Polymers, resins, and monomers Industrial chemicals Plastics Fluid Process chemicals Specialty chemicals Kathon 886 MW Thayer School of Engineering Agricultural chemicals Petroleum chemicals Kathon MWX 11/4/2010 Background 3 Metalworking fluid: 60 million gallons in the US Biocides kill microorganisms in metalworking fluids Product name Treatment capacity Market potential Sale Volume Actual sale during 1st five month Thayer School of Engineering K 886 MW K MWX 1,000 gal 50-100 gal reservoirs $18M $20M $5.4M (1983) $0.2M (target in 1984) $2.1M $12,000!!! 11/4/2010 Optimistic Prospects for MWX 4 Great market potential ($38M) Maintenance biocides likely to gain market share Several advantages: • Easy to use • No maintenance • Safe • Higher effectiveness • Large customer surplus Thayer School of Engineering 11/4/2010 ... But it doesn‘t sell! 5 Lack of need recognition for biocides Lack of brand awareness among end consumers Lack of MWX awareness Lack of awareness of the benefits of MWX Lack of incentives for distributors to sell MWX Thayer School of Engineering 11/4/2010 End-User EVC of Kathon MWX 6 Compare costs incurred by end-user who does and does not use Kathon MWX Not Using MWX Using MWX Fluid Concentrate Purchase $ $ Fluid Disposal $ $ Risk of Fluid Disposal % % EVC ...
Words: 1251 - Pages: 6
...Samsung Galaxy 11- Football Will Save the Planet Xiaowei Lu Introduction Digital Marketing Nowadays, the first thing when you wake up in the morning, is probably to check your cellphone for texts, or to open Facebook page or other social network for new posts, or to browse internet or to turn on television for global latest news. Those online means of communication, information conveyance, and collaboration through internet connections of people, organisations, and communities supported by technological capability and mobility, are all social media (Tuten & Solomon, 2013). There are always two major different interactions in today’s social networks such as Facebook, twitter and youtube: synchronous interactions, which are interactions with immediate communications and responses such as texting live messages online with friends; asynchronous interactions, which are communications without instant replies such as posting photos and news online (Tuten & Solomon, 2013). Digital marketing focuses on generalising marketing campaigns through taking full advantage of digital social media, in other words, achieving marketing objectives by digital technologies, since in today’s society it is the most Immediate, direct and effective way of business promotion. Samsung Samsung Group is the largest multinational conglomerate company from south Korea founded in 1938, operating various subsidiaries and affiliated companies and business. One of the most remarkable subsidiaries under the Samsung...
Words: 2597 - Pages: 11
...All In One Marketing Audit & Plan [Date] Created by Simply Digital Marketing Last reviewed [Date] All In One Marketing Audit And Plan 1. CONTENTS 1. 2. 3. Contents .......................................................................................................................................... 2 Glossary ........................................................................................................................................... 4 Executive Summary ......................................................................................................................... 5 3.1. 3.2. 3.3. 4. Key Findings ............................................................................................................................ 5 Key Recommendations ........................................................................................................... 5 Summary ................................................................................................................................. 5 Marketing Audit .............................................................................................................................. 6 4.1. 4.2. 4.3. 4.4. 4.4.1. 4.4.2. 4.4.3. 4.5. 4.5.1. 4.5.2. 4.5.3. 4.5.4. Introduction ............................................................................................................................ 6 Assumptions ...............................................................................................
Words: 2619 - Pages: 11
...Name goes here MKT/551 Professor Joe Zimmerman Marketing Audit Overview May 31, 2011 Table of contents page Case Study: Peace Memorial Hospital: Downtown health Clinic …….………………. 3 Executive Summary …………………………………………………………………….. 3 Environmental Aspects …………………………………………………………….. 5 Demographics …………………………………………………………………….. 5 Politics …………………………………………………………………….. 7 Competition …………………………………………………………………….. 8 Marketing …………………………………………………………………………….. 9 Objectives …………………………………………………………………….. 9 Strategies …………………………………………………………………….. 10 Tactics …………………………………………………………………………….. 10 Four Ps …………………….…………………………………………….. 11 Product …………………………………………………………… 11 Price …………………………………………………………………… 11 Place …………………………………………………………………… 11 Promotion …………………………………………………………… 12 Marketing Information Systems ……………………………………………. 12 Conclusion …………………………………………………………………………….. 13 References ……………………………………………………………………………...
Words: 3487 - Pages: 14
...ASSIGNMENTS FOR MARKETING PRINCIPLES Assignment #1 – An Introduction to Marketing Read chapter 1. Be prepared to answer the following questions if called on. 1. What is marketing? 2. What is a market? 3. Define the terms ultimate consumers and organizational buyers. Give examples of each. 4. What is a target market? Why do most organizations focus on satisfying the needs of one or more subgroups of a market rather than the entire market? 5. What are the four controllable marketing mix factors that make up the organization’s marketing program? 6. What are uncontrollable environmental factors? 7. Identify and describe the four distinct stages or eras of the market orientation. 8. Is marketing good or bad for a society. Support your answer. Find an article that supports your argument and attach a copy. Be prepared to discuss your article in class. Consider a society with no marketing. Assignment #2 – Strategic Planning and the Strategic Marketing Process Read chapter 2. Be prepared to answer the following questions if called on. 1. What is strategic planning and why is it important? 2. Identify and define the three organizational levels. 3. What is a mission statement? 4. What are organizational objectives (goals)? Give some examples of different types of objectives (goals) organizations might pursue. 5. What are organizational strategies? 6. What is business portfolio analysis? Draw an example of a growth-share...
Words: 2337 - Pages: 10
...activities 8 5.3. Impact of Technology (Available technologies and skill level of the general population and labor force) 8 8. COMPETITIVE ANALYSIS 8 8.1. Compare on market(Strength/weaknesses)/contrast your product with competitors’ products 8 8.2. Competitive brands available in the market 8 9. Estimated industry-wide sales (or volume) for year—all brands 8 10. Market Conditions Faced 9 10.1. Consumer buying habits 9 Distribution of similar or competitive products 9 10.2. Advertising and Promotion 9 10.3. Media that can be used to reach target market 9 Sales promotions customarily used in this product category 9 Pricing 9 11. MARKETING PLAN 9 Describe the target market 9 Geographic region(s); demographics, lifestyles, etc 9 11.1. Your Product 9 11.2. Positioning Strategy 9 11.3. Your Marketing Objectives 10 11.3.1. Target market (specific description of the market) 10 11.3.2....
Words: 1626 - Pages: 7
...Swot analysis of TCCC Objectives STP strategies 4ps strategies Financial budgeting Coca Cola’s mission statement: -To refresh the world -To inspire moments of optimism and happiness -To create value and make a difference Executive summary . The Coca-Cola Company was first established in 1886 by Dr John Styth Pemberton. Since then the company has become the world’s leading manufacturer in the soft drink industry, offering more than 500 brands in over 200 countries. TCCC provides 1.7 billion servings every day ,78% of these being Coke branded products. Over the past decade carbonated drinks have been increasingly criticised for their high sugar content or the health risks of artificial sweeteners and their impact on obesity. As a result we observe that the market for carbonates is shrinking significantly. Health awareness linked to alimentation is expected to grow exponentially over the next decade and it is safe to assume that the target market in 2 years will be much larger than today. People will tend to act more responsibly and be more careful about the chemicals they put in their bodies. In an effort to capture health-conscious customers, Coca Cola recently launched a new mid calorie alternative containing naturally occurring sugar, The Coca-cola life. This new soda takes advantage of the stevia, a natural sweetener which is calorie free and can be substituted to sugar. In this essay i will try to establish a marketing plan which will allow the...
Words: 2757 - Pages: 12
...Company G 3-Year Marketing Plan Assessment Code: MKT1 Student Name: Student ID: Date: 03/05/2011 Mentor Name: Table of Contents Introduction 3 Mission Statement 3 Market Objectives 3 Target Market 3 Product Objective 3 Price Objective 3 Place Objective 4 Promotion Objective 4 Competitive Situation Analysis 4 Consumer Product Classification 4 Analysis of Competition using Porter’s 5 Forces Model 4 SWOT Analysis 5 Strengths 5 Weaknesses 6 Opportunities 6 Threats 6 Marketing Strategies 6 Product Strategies 7 Price Strategies 7 Place Strategies 7 Promotion Strategies 7 Tactics and Action Plan 7 Product Action Plan 7 Price Action Plan 8 Place Action Plan 8 Promotion Action Plan 8 Monitoring Procedures 8 Introduction Companies G is wholesale appliance business focusing elite urban singles and couples; affluent retires in sunbelt cities; sophisticated townhouse couples; upscale urban singles and couples who are looking to upgrade their traditional top-end washer and dryer to the newer front-end washer and dryer appliances by Frigidaire. Mission Statement Company G will provide the highest quality Frigidaire brand products, superior customer service and cost-effective solutions to our customers, resulting in sales, profit and a mutually long-term relationship with our suppliers and customers. Market Objectives Target Market Our ideal customer are elite urban singles and couples, affluent retires in South and Southeast cities,...
Words: 2652 - Pages: 11
...Company G 3-Year Marketing Plan Assessment Code: MKT1 Student Name: Student ID: Date: Mentor Name: Table of Contents Introduction 3 Mission Statement 3 Market Objectives 3 Target Market 3 Product Objective 3 Price Objective 3 Place Objective 4 Promotion Objective 4 Competitive Situation Analysis 4 Consumer Product Classification 4 Analysis of Competition using Porter’s 5 Forces Model 4 SWOT Analysis 5 Strengths 5 Weaknesses 6 Opportunities 6 Threats 6 Marketing Strategies 6 Product Strategies 7 Price Strategies 7 Place Strategies 7 Promotion Strategies 7 Tactics and Action Plan 7 Product Action Plan 7 Price Action Plan 8 Place Action Plan 8 Promotion Action Plan 8 Monitoring Procedures 8 Introduction Companies G is wholesale appliance business focusing elite urban singles and couples; affluent retires in sunbelt cities; sophisticated townhouse couples; upscale urban singles and couples who are looking to upgrade their traditional top-end washer and dryer to the newer front-end washer and dryer appliances by Frigidaire. Mission Statement Company G will provide the highest quality Frigidaire brand products, superior customer service and cost-effective solutions to our customers, resulting in sales, profit and a mutually long-term relationship with our suppliers and customers. Market Objectives Target Market Our ideal customer are elite urban...
Words: 2650 - Pages: 11
