...marketing website with tons of articles for people to read and for help on their products and companies. The author is Karl Wirth who is the CEO and a co-founder of Apptegic, a customer intelligence and marketing automation solution that enables online businesses to understand each customer and respond in real time. Karl Wirth’s message was basically explaining of how the 7 P’s of marketing apply to customer retention marketing. Karl Wirth’s stated, By acting on the 7 Ps of Customer Retention Marketing, you can keep your customers; make their interactions with your business successful; and in so doing make your business more successful. The evidence I found to support this theme was that they stated all 7 points of marketing in it. Everyone is use to the 4 P’s and what they do and how we use them, but they used three more that I have not heard of being used. Many CPG companies are now using online and social mediums to build direct relationships with their customers This article is very smart and logical and provides great information. It provides the four P’s: Product, Place, Price, Promotion. Yet it provides 3 more P’s to the reader, People, Processes and Positioning. I have never heard of those three. It states that People are the most important. Retaining customers is about building relationships, and relationships are about people. For Processes, treat your customer as a person, and not a customer. You need good processes, such as monitoring social media and engaging customers there...
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...Market Mix The Four P’s Price, Product, Promotion, and Place My company has decided that we want to sell a particular product or offer a service? This product will be based on Coffee. Not just hot coffee’s – but Iced Coffee’s with different flavors. As the company grows we will introduce 2 simple baked goods, English Scones and muffins. Deciding to sell these certain products will keep it simple in the beginning. As my company action plan will employ the market mix, and the essentials of the four P’s that will enable me access to get the goods and services to the customers that I am targeting in my local area. The action plan is called the “Marketing Mix”. The marketing mix is one of the biggest and most critical decisions that a company can make. A bad marketing mix can result in poor performance and the potential for financial losses. One has no wish to be alone with a great cup of coffee and a Blueberry Scone watching the Casey Anthony Trial in an empty Coffee Shop. Now that’s a bloody nightmare there.(Fulton et al, 2006) The Origins of the Market Mix Plan It is well known the marketing mix plan created and well defined by McCarthy some forty years ago. It is commonly used to date as the standard outline and set of marketing tools that a firm uses to pursue its marketing objectives or goals (Kotler and Keller, 2006). The marketing mix is then broken down into four distinct categories. These categories are called the four P’s or Product, Price...
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...mThe Ten “P’s” of Travel, Tourism and Hospitality Marketing* * From Best Practices for International Tourism Development for Rural Communities (2002) by David L. Edgell, Sr., PHD Marketing… “…. to design a product/service combination that provides real value to targeted customers, motivates purchase, and fulfills genuine customer needs.” -James Makens et al., Marketing for Hospitality and Tourism, 1999 Ten “P’s” 1. Product The tourism product differs from other products due to the wide range it covers, including such areas as accommodations, transportation, food, recreation and attractions. Often the product includes intangibles such as history, culture and natural beauty. Many times the hospitality or tourism product is viewed as more of a “service” in the customer’s eyes. The closer we can determine how to satisfy the customer’s needs, the more successful the destination will be. Ten “P’s” 2. Price This refers to the amount customers pay for the product or service provided. A quality tourism experience at a fair price is what the customer is looking for in most cases. Pricing should be based upon clear-cut goals and objectives: survival, profit maximization, market share, competition or positioning. Ten “P’s” 3. Place The place where the customer buys the tourism product can vary greatly. Travel agents, tour operators and tour wholesalers are a few examples of the distribution points for tourism products. Look for new distribution points in which...
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...Questions This situation raises many questions. The protagonist, Leon Gorman raises many questions that are directly related to the situation: 1. How can sales projections be achieved, and how sales growth be achieved while maintaining and enhancing product quality and services? What are we doing well? Where can we improve? 2. Is it possible to develop human resources to meet growth needs? And is the needed at talent available locally in Maine? 3. Is it possible to achieve the productivity levels needed to meet projections? 4. Can the company continue as a family-owned business with growth, given potential estate and management succession problems? 5. Can the company maintain its image, and not change the essential nature of the business? 6. What criteria about our business do consumers like best (and least)? Price? Product? Delivery (place)? Hypothesis After conducting a preliminary review of possible criteria (e.g. from exhibit 4: price, variety, customer service etc.), current practices, and possible alternatives provided within the case (e.g. acquiring non-competitive businesses), my hypothesis is that L.L. Bean Inc. should consider expanding into foreign countries. Exhibit 10 shows that many countries such as Great Britain and Germany are experiencing a large growth in mail orders as % of retail sales. Since mail order is a specialty of L.L. Bean, the company could tap into...
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... a. Residence with the intent to remain “indefinitely.” b. Has been used for several purposes. For example: to determine the power to exercise personal jurisdiction over a person, to grant a divorce, to impose a tax or to determine the persons entitled to inherit property. 2. Losing and gaining a domicile: a person does not lose her old domicile until she acquires a new one, that is, until she hoes to another state wit the intent to reside indefinitely in the new state. (Examples on pg 45-46). 3. Meaning of “indefinite intent: often, courts state that it is enough that the party “intends to make the new state his home and that he has no present intention of going elsewhere [to live].” 4. Alternative formulation of the domicile test: to establish a domicile of choice a person generally must be physically present at the location and intend to make that place his home “for the time at least.” 5. The date for determining diversity: parties must be diverse on the day the complaint is filed, even if the parties were not diverse at the time of the events giving rise to the claim. c. This promotes efficiency: 6. Evidence of domicile contrasted with the test for domicile: examples are a drivers license, health insurance, her apartment her religious affiliations and other facts (Gordon v. Steele); this is only evidence, the true test is the persons intent. 7. If diversity exists, which federal...
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...How does a company decide that they want to sell a product or offer a service? After the decision to sell has been made, a company will need to think about the action plan that it will employ to get the goods or services to the customers it is targeting. The action plan is called the marketing mix. The marketing mix is one of the biggest and most critical decisions that a company will make. A bad marketing mix can result in poor performance and the potential for financial losses. The marketing mix was defined by McCarthy forty years ago as the set of marketing tools that a firm uses to pursue its marketing objectives or goals (Kotler and Keller, 2006). The marketing mix is then broken down into four distinct categories. These categories are called the four P’s or product, price, place, and promotion. The goal of the four P’s will hopefully be the aim of attracting and retaining the customers or target market that a company has identified. All four P’s of the marketing mix are essential and are interrelated (Perreault and McCarthy, 2005). In order for a company to successfully implement a marketing mix, a careful and well researched market plan needs to be generated. The market plan should include a SWOT analysis. The SWOT analysis is an evaluation of a company’s strengths, weaknesses, opportunities, and threats. The SWOT analysis can help to identify the areas that a company can use to take advantage of and to stay clean of any roadblocks that might hinder a successful marketing...
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...production process planned for the new machines, new plastic cable ties with new specifications will have to be produced as none of the existing ties suppliers actually have them in stock. Each machine will require 45 plastic clips with 6 different part numbers for a total of 4,500,000 annually given the projected production of 100,000 machines a year. With the lead times involved before the first production run in April, F& P must resolve the 2 key concerns above as soon as possible. Analyzing the Case Data There are 4 possible plastic clip suppliers: Olson Plastics: * Quoted 4 out of the 6 items quoted were priced higher than other suppliers * In previous orders their quality has not been as good as other suppliers * Olson seems to have capacity problems, even with long lead times deliveries are unreliable * This Company would meet all of New Zealand’s agent licensing laws * As a New Zealand manufacturer Olson would not be aligned with F&P’s goal of using more...
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...written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or Service (economics) service, a brand, or a product line. Marketing plans cover between one and five years. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use. In most organizations, "strategic planning" is an annual process, typically covering just the year ahead. Occasionally, a few organizations may look at a practical plan which stretches three or more years ahead. To be most effective, the plan has to be formalized, usually in written form, as a formal "marketing plan." The essence of the process is that it moves from the general to the specific; from the overall objectives of the organization down to the individual Objective (goal)|action plan for a part of one marketing program. It is also an interactive process, so that the draft output of each stage is checked to see what impact it has on the earlier stages - and is amended. Detailed plans and programs At this stage, you will need to develop your overall marketing strategies into detailed plans and program. Although these detailed plans may cover each of the 7 P's, the focus will vary, depending upon your organization's specific strategies. A product-oriented company will focus its plans for the 7 P's around each of its products. A market...
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...to focus on the goals and objectives of Anglo American and support business decision making in a global environment; to strive for continuing improvement of service excellence in a friendly and professional manner. * Vision The I.C. will play a pivotal role in facilitating the providing and use of information and knowledge to support (our client’s) business decisions. The I.C.'s aim is to become the preferred supplier of information to the Anglo American Corporation. In order to achieve our mission and focus on our vision we need to continuously be aware of our client’s needs, and this is where the 4 P's of marketing are useful. The 4 P's of marketing I shall discuss the 4 P's of marketing within the context of the Anglo American Information th Centre environment and how we apply the 4 P's. I believe that there is a 5 P and I shall discuss this in due course. The four P’s are: * * * * Price I quote Jim Courtis: The price of all...
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...BACKGROUND AND PROBLEM IDENTIFICATION Table 1. Grupo Bimbo History |2 |Bimbo was founded on 2 December 1945 with five shareholders. They are all Servitje’s family member. Bimbo | |December 1945 |started with only one brand, 38 workers, and 10 trucks to deliver the bread made in one plant in Mexico City. | | |The first product were white boxed bread and toasted white bread and incorporated more products into its product| | |line for the next few years. | |1963 |Don Lorenzo Servitje took on the role of CEO of Grupo Bimbo and his brother, Roberto Servitje, became CEO of | | |Bimbo breads division | |1970’s |imbo opened the largest bread factory in Mexico and Latin Amerika | |1979 |Lorenzo Servitje handed over Grupo Bimbo’s presidency to his brother Roberto and he assumed the chaimanship of | | |the board. | |1980’s |Bimbo started to distribute products in Houston and Los Angeles. | | ...
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...Trespass……………………………………………………………………………..4-6 Nuisance…………………………………………………………………………....7-12 Negligence………………………………………………………………………..13-14 Distinguishing nuisance and trespassing to land……………………………………15 Distinguishing nuisance and negligence…………………………………………16-17 Discussion……………………………………………………………………………18 Reference…………………………………………………………………………......19 INTRODUCTION Tort Law Tort law is a body of rights, obligations and remedies that is applied by courts in civil proceedings to provide relief for persons who have suffered harm from the wrongful acts of others. The person who sustains injury or suffers pecuniary damage as the result of tortious conduct is known as the plaintiff, and the person who is responsible for inflicting the injury and incurs liability for the damage is known as the defendant or tortfeasor. Tort denotes a breach of duty imposed by law. The nature of the duty is to act as a reasonable person exercising reasonable diligence. Tort exceeds the obligation of a party under contract. The duty could be to the other party in a contractual relationship, as well as to any third party who, it is reasonably foreseeable, would get affected by the actions of a persons. There are three constituents of tort: 1. There must be a wrongful act committed by a person. 2. The wrongful act must give rise to a legal damage or actual damage. 3. The wrongful act must be of such nature as to give rise to a legal remedy in the form of an action for damages. In construction,...
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...1) Organizations establish a statement of what they strive to accomplish, called a mission statement. Companies should create a market-oriented mission statement by restraining from creating their mission statements product-orientated (myopically), but rather defined in terms of satisfying basic customer needs (39). An effective mission statement should be meaningful and specific, yet motivating. It is extremely important that a mission statement is specific and emphasizes the company’s strength in the market place. Furthermore, “a company’s mission should not be stated as making more sales or profits; profits are only a reward for creating value for customers. Instead, the mission should focus on customers and the customer experience the company seeks to create.” When (40). The text goes on about McDonald’s mission being to their customers’ favorite place to eat rather than being the best and most profitable quick-service restaurant and that profits will follow if they accomplish their mission. 2) The business portfolio is the collection of businesses and products that make up the company, it is guided by the mission and objectives. When portfolio planning the business must perform a portfolio analysis. The business must ask itself, “Where are we? And, where are we going?” Companies must also ask how they are going to get there and how to carry it out. It is managements job to analyze SBU’s and determine which SBU’s need support and how much support they need to grow. The...
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...and Gummow J, the approach to determine a duty of care is to identify the “salient features” that combine to constitute a sufficiently close relationship to give rise to a duty of care. Reasonably foreseeable: - It is reasonably foreseeable that any carelessness on the part of the defendant could harm the plaintiff. Did the defendant’s act impart harm “that you could reasonably foresee would be likely to injure your neighbour”? (Donoghue v Stevenson). Incremental Approach: 1. type of relationship between the parties; a) the vulnerability of the plantiff, b) degree of control of defendant, c) special knowledge of the defendant of the plaintiff’s situation. 2. the type of loss or injury (physical, psychiatric, economic) 3. policy and; 4. physical, casual and circumstantial proximity may still be used (Kirby, Modbury triangle shopping centre pty ltd v Anzil) “proximity is the best notion yet devised by the law to delineate the relationship of negibour” Proximity test involves a notion of nearness in the relationship between the parties. as a principle stated in Rylands v Flectcher, “identifying the categories of case…rather than a test for determining whether the circumstances of a particular case bring it within such a category, either established or developing”. Sullivan v Moody applied tradtional common law approach “…although not determinative, is instructive”. Where duty of care will fail Policy(whether a duty of care exists. Public policy does not allow the following...
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...SWOT Intended for management to find The plan’s major points quickly. Objectives Marketing Strategy Marketing Strategy Followed by a table of contents Marketing Plan (4P’s) Budget & Controls External Analysis • Customer Analysis – (Major) segments – Customer needs – b h i behaviour Executive Summary External Analysis Internal Analysis l l SWOT Objectives Marketing Strategy Marketing Strategy Marketing Plan (4P’s) Budget & Controls • Competitor Analysis – Strategy – Market position – 4 P’s • Market Analysis – Define market – Size growth trends Size, growth, trends • Macro environment – Demographic, technological, economic, cultural, legal Opportunities & Threats 2 2/28/2011 Internal Analysis Current situation in Company X Executive Summary External Analysis Internal Analysis l l SWOT Objectives Marketing Strategy Marketing Strategy Marketing Plan (4P’s) Budget & Controls Past & current strategies • Past & current strategies • Four P’s – – – – Current products Prices Advertising/promotions Distribution (developments) • Sales profits Sales, profits • Problems Strengths & Weaknesses SWOT • Both SW and OT are a summary of the main findings of respectively findings of respectively internal and external analysis • Approximately 5 bullet points each • No rabbits out of the hat here! Executive Summary External Analysis Internal Analysis l l SWOT Objectives Marketing Strategy...
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...Product and service marketing are fundamentally different A service, unlike products, is an action that one person can offer another that is intangible and does not result in ownership of a physical product. Different marketing tactics work better for services versus products. A business needs to develop marketing plans for both services and products. A few of the differences between service marketing and product marketing, when a business markets a service, they are actually marketing a relationship and value. This relationship and value needs to be marketed differently than if the business is marketing products. Another difference between marketing services and marketing products is that when a customer buys a service, the customer is buying something that is intangible, instead of a tangible product, like a television, phone, or a tablet computer. Also, a customers’ idea of a service is often times based on the reputation of a single person and not a brand or product. Instead of building a reputation based on the quality of several different products, a service reputation is built on how well a person delivers on the service offered. For example, how well a retirement fund manager does managing a stock portfolio. Lastly, it is relatively easy for a consumer to compare the quality of different products. It is easy to see if one television has a better picture than another side by side, or if on computer operates faster than another, or the quality of two different vehicles...
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