...white paper | 2012 The New Frontier in Telecom Analytics: Get Better Insight Faster The dynamic nature of today’s telecom customers requires an equally dynamic use of analytics to understand customers and make decisions. ©2012 Peppers & Rogers Group. All rights protected and reserved. 2 Telecom operators are under pressure to deliver, and deliver fast. There is tremendous focus on always-on mobile connectivity and access to information when and where we want it, both in the consumer and business worlds. Telecom operators see this new normal firsthand, providing data networks and technology convergence to bring information and access to their customers in the moment. As a result, it’s become critical for operators to have the same type of fast access and interaction with their customer data and analytics. The current competitive landscape demands it. Are traditional analytical models enough? No. If operators are changing the way they do business, this shift must apply to analytics as well. It’s become imperative to monitor the instant changes in customers’ behaviors and match them with the most relevant offer as soon as the customer needs it. This is achieved with a sophisticated blend of analytics and business sense. This white paper explores the opportunities of two dynamic analytical capabilities: transactional behavioral analysis and capturing data potential. These tools give operators real-time insight about their customer activity so they can take action to be as agile...
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...Marketing Management Heather Fullen Aspen University: BUS530 December 7, 2015 Syllabus and Textbook Reflection I started this assignment first by reviewing the course syllabus and skimming the topics covered in the textbook. I also reviewed the table of contents and briefly glanced through the rest of the text book required for this course. Syllabus After reading and reviewing the course syllabus for BUS-530 Marketing Management, I am looking forward to what this course is going to offer and teach me as well as being able to apply it to my current and future professional goals. I believe this course will provide a substantial introduction to basic marketing functions that will be advantageous to my degree and career goals. There is a lot of information to cover in just 10 weeks, but the knowledge I gain and learn will become the foundation for my personal and professional career. Textbook The required text book for this course, Marketing Management, has important, helpful and a significant amount of information to lead the way of becoming successful in marketing management. The textbook appears to be set up in a way that will be helpful for students such as myself to learn different marketing theories. Concepts and theories can be difficult to use and how to apply them in real life professional experiences. Topics of Most Interest While reading and skimming through the textbook, I found several of the topics to be of interest to me. Most of the chapters throughout...
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...Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and providing superior customer value. From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. Organizations may choose to operate a business under five competing concepts: the production concept, the product concept, the selling concept, the marketing concept, and the holistic marketing concept.[1] The four components of holistic marketing are relationship marketing, internal marketing, integrated marketing, and socially responsive marketing. The set of engagements necessary for successful marketing management includes capturing marketing insights, connecting with customers, building strong brands, shaping the market offerings, delivering and communicating value, creating long-term growth, and developing marketing strategies and plans.[2] Marketing may be defined in several ways, depending on...
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...Marketing is the process of communicating the value of a product or service to customers. Marketing might sometimes be interpreted as the art of selling products, but selling is only a small fraction of marketing. As the term "Marketing" may replace "Advertising" it is the overall strategy and function of promoting a product or service to the customer. The American Marketing Association defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."[1] From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. The process of communicating the value of a product or service through positioning to customers. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and managing customer relationships in ways that benefit the organization and its shareholders. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer buying behavior and providing superior customer value. There are five competing concepts under which organizations can choose to operate their business; the production concept, the product...
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...DEFINING MARKETING FOR THE 21ST CENTURY WHAT IS MARKETING? Marketing is about identifying and meeting human and social needs. One of the shortest good definitions of marketing is “ meeting needs profitably.” 3 ALTERNATIVE PHILOSOPHIES THAT CAN GUIDE ORGANIZATIONS IN THEIR EFFORTS TO CARRY OUT THEIR MARKETING GOAL(S) THE PRODUCTION CONCEPT The production concepts, one of the oldest concepts in business, holds that consumers prefer products that are widely available and inexpensive. Managers of production– oriented businesses concentrate on achieving high production efficiency, low costs, and mass distribution. This orientation makes sense in developing countries such as China, where the largest PC manufacturer, Lenovo, takes advantage of the country’s huge and inexpensive labor pool to dominate the market. Marketers also apply the production concept when they want to expand the market. THE PRODUCT CONCEPT The product concept proposes that consumers favor products offering the most quality, per-formance, or innovative features. However, managers are sometimes caught in a love affair with their products. They might commit the “ better mousetrap” fallacy, believing a better product will by itself lead people to beat a path to their door. A new or improved product will not necessarily be successful unless it’s priced, distributed, advertised, and sold properly. THE SELLING CONCEPT The selling concept holds that consumers and businesses, if left alone, won’t buy enough...
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...business is to create and keep customer Whoever is closest to customer is the most valuable employees “if you write a sentence in business without a number you’re doing something wrong” 3 contributions and 3 questions Insights – wow factor Implications – so what is the impact of the insight over business Porter’s five forces – Shows how value is captured Threat to substitute Intensity of competitive of competition Power of buyers Power of suppliers Threat of new entrance Level of risk (low, medium or high) Why? (justification of risk level) How can we mitigate the risk * Concentrate on high level risks within porters 5 forces * * GE Mckinsey Matrix – category attractiveness and competitive position * SWOT Relative Strength Relative weaknesses Competitive advantage: Superior inputs Superior technology Superior operations Superior data Superior collaborators/partners Superior branding Superior offering Superior perceptual positioning Superior access Superior segment Superior customers Protano 8 C Category – demand - willingness to buy and ability to pay, need is perceived lack, never a product. Customers buy benefits and solutions Perception – the world according to you Marketing manager: Creator of value Manager of perception Master of persuasion Keeper of relationships for a lifetime Want – a specific satisfier (product or brand) * Competition – any player in the market going after the same customer ...
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...Marketing Management By Philip, Kevin Lane Keller, Abraham Koshy, Mithileshwar Jha logo copy.tif SUMMARY by Chapter 1 Understanding Marketing Management Marketing is an essential art and science that is engaged in a vast number of activities by both persons and organizations. It has become an increasingly vital ingredient in the success of a business. Good marketing is the result of careful planning and execution. There are two sides to marketing – the formulated side and the creative side. It is important to lay the foundation in marketing concepts, tools, frameworks and issues of the formulated side while at the same time instil the real creativity and passion for marketing, as we shall come to see in this chapter. Social Definition of Marketing Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others. Marketing is increasingly becoming an important function in all organizations to ensure that demand for a product or service persists along with customer retention. Scope of Marketing A good marketer must be able to answer the following questions: What is Marketing? The formal definition of marketing is, Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationship in ways that benefit the organization and its stakeholders...
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...position Joshua had to take can be compared to those that take place in marketing management. Marketing management takes place when an individual takes the necessary steps to achieve desired responses from others in business. Marketing is not only about selling but more importantly it is about knowing your customers so the service you are offering them sells itself. This paper will analyze the scripture Joshua 1:9, as well as the book in comparison to marketing management. We can compare the story when Joshua led the Israelites to the Promised Land to the concept of marketing management. In Joshua 1:9 God says, “"Have I not commanded you? Be strong and courageous. Do not be terrified; do not be discouraged, for the LORD your God will be with you wherever you go." Within the context of marketing management this scripture tells us God wanted Joshua to be strong, and have courage in all that he did and wherever he went. In order to be a good leader in business, or in this case war, a person should hold these characteristics. Joshua had to be strong not just physically but also mentally so he would be able to tackle any challenge that he was faced with the help of God. To have courage requires mental and moral strength to help you make the right decisions. Challenging yourself and overcoming your fears when facing discouragement yet still acting rightly is very important. To have continued success in marketing management you need to have the same qualities that Joshua did when...
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...Chapter 2 & 3 Synopsis Developing Marketing Strategies and Plans Effective marketing initiates with a view, well-communicated strategy. It helps in defining the vision, mission and outlines the strategies to achieve the business goals. The business run in the way the marketing strategies are developed and implemented. The comprehensive marketing strategy describes the following things about an organization’s business, * It defines the organizations business along with its products and services. * It explicate the position and role of the products and services in the market world. * It helps in identifying the customer profiles. * It will justify to develop new schemes, plans and effective measures to withstand in the competitive market world. A marketing strategy sets the direction and goals for a company’s marketing which is different from marketing plan and specifies actions to implement the strategies. Basically, a strategy could be developed for the next few years while marketing plan describes actions to reach the deadlines in the present year. It usually engages the organization management in creating few powerful thoughts to spread awareness and sell its products. The following factors will help the organization in marketing investment, measures to emphasize to increase the sales, 1. Determining business goals: - When setting goals it is important to be as targeted so that an organization can measure the results against...
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...Reflective Journal 1 Caitlin Szanto SB/IBUS 4200 3.00 A Integrative International Business Seminar Contents: SCOTIA BANK in Latin America: International Banking – Glen Tugman, Vice President FRITO LAY in China: Capturing the China Opportunity – Ron McEachern IMNET: Canadian Mining Experience: Richard A. Ross Integrative Discussion of Journal SCOTIA BANK in Latin America: International Banking – Glen Tugman, Vice President Key Takeaways: * The importance of considering information in the scheme of things * 21+ million customers – 20years ago that was huge, now not so significant * Their financial success was largely a result of diversification - a series of acquisitions. Never betting the bank on one of them – risk mitigation * Mismatch: money spent internationally has higher returns than domestically * Investment community thinks of Scotia bank as an international bank, Canadians think of it as local bank – market perception works in their favor * Criteria Scotia uses to invest money: * Find low price -> Buy cheap -> Be patient -> Form alliances with locals -> Protect risk of privacy > Buy something good -> learn from setbacks -> long term perspective * Be a credible buyer – government resistance to international companies buying local businesses * Growing middle class * Important economically: middle class has stability because people have something to loose * E.g. Pacific Group (Mexico...
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...MK 4010 October 19, 2015 miderm This class has given me much insight on the behind the scene process that goes into making a person into a consumer. The topics in class are very interesting mix between psychology and marketing. The topic I enjoyed and agree with the most is how the consumer memory works. It was very interesting to learn about the different types of memory such as: sensory memory, short term memory, and long term memory. In marketing, it is imperative that your consumer encodes your brand into their long term memory, therefore, when it is time to make the purchase your product comes to mind. This can be done through low involvement learning such as jingles and package recognition or high involvement learning such as knowing product benefits and long message content. I can personally attest to seeing a product and immediately singing their jingle, because it has been learned and encoded into my memory. One theory I don’t completely agree with from class is the Maslow’s model of hierarchy of needs. After seeing the in class presentations, I felt like one more category could be added to the model of hierarchy of needs. I believe Maslow did a good job capturing a lot of our core values, but missed a core value that included pleasure and enjoyment. I would agree with the model more if it had a category for hedonic motives. As humans sometime we do something just for the intrinsic enjoyment and nothing more. Overall, this class has been very interesting and...
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...performance of the other segments. In order to support the RBG cookies segment Guillen’s team is conducting market research in order to determine the differences between U.S. and Canadian consumers of refrigerated cookies. Guillen’s team wants to gain a better understanding of the Canadian consumer in order to help them unlock growth in the Canadian market. Guillen’s team worked with the consumer insights manager for RGB to contract MarketTools to conduct a usage and attitude study. The results of the study revealed that family structures were similar between the U.S. and Canada and that the top four purchase drivers were the same in both countries, though in Canada kids played a bigger role in the purchase decision and the quality of the dough was less important. Also, scratch baking was the dominant method of making cookies in Canada at 56 percent versus 22 percent in the U.S.. The results also showed that the use of refrigerated cookie dough was on the rise in both markets, especially those with small children. This shows that the RBG team needs to focus their marketing on Canadian families and the children in those families since they heavily influence the purchasing decisions. The evidence showing a rise in the use of refrigerated cookie dough also indicates that RBG definitely has the potential to...
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...Marketing Management 14 PHILIP KOTLER Northwestern University KEVIN LANE KELLER Dartmouth College Prentice Hall Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Editor in Chief: Eric Svendsen Executive Editor: Melissa Sabella Development Editor: Elisa Adams Director of Editorial Services: Ashley Santora Editorial Project Manager: Kierra Bloom Editorial Assistant: Elizabeth Scarpa Director of Marketing: Patrice Lumuba Jones Senior Marketing Manager: Anne Fahlgren Senior Managing Editor: Judy Leale Production Project Manager: Ann Pulido Senior Operations Supervisor: Arnold Vila Creative Director: John Christiano Senior Art Director: Blair Brown Text and Cover Designer: Blair Brown Lead Media Project Manager: Lisa Rinaldi Editorial Media Project Manager: Denise Vaughn Full-Service Project Management: Sharon Anderson/BookMasters, Inc. Composition: Integra Printer/Binder: Courier/Kendallville Cover Printer: Lehigh-Phoenix Color/Hagerstown Text Font: 9.5/11.5, Minion Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Copyright © 2012, 2009, 2006, 2003, 2000 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All...
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...What is Marketing? • Meeting needs profitably • Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging product and services of value with others. (Philip Kotler) • Marketing is the activity, set of institutions and process for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. (American Marketing Association) What is Marketing Management? • The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering and communicating superior customer value. Importance of Marketing • Marketing has helped introduce and gain acceptance of new products that have eased or enriched people’s lives. • It can inspire enhancements in existing products as marketers innovate to improve their position in the marketplace. • Successful marketing builds demand for products and services, which in turn, creates jobs. The Scope of Marketing What is Marketed? • Goods • Services • Events • Experiences • Persons • Places • Properties • Organizations • Information • Ideas Who Markets? • Marketers • Prospects Eight Demand States • Negative Demand • No Demand ...
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...The Role of Online Social Media in Brand-Consumer Engagement: An Exploratory Study Abstract Submitted to the Direct/Interactive Marketing Research Summit Proceedings August 31, 2012 Andrew J. Rohm Associate Professor, Marketing Department, College of Business Administration, Loyola Marymount University, Los Angeles, CA, arohm1@lmu.edu George R. Milne Professor, Marketing Department, Isenberg School of Management, University of Massachusetts Amherst, Amherst, MA, milne@isenberg.umass.edu Velitchka Kaltcheva Associate Professor, Marketing Department, College of Business Administration, Loyola Marymount University, Los Angeles, CA, velitchka.kaltcheva@lmu.edu Researchers have noted the importance of generating more effective brand-consumer engagement with respect to increased profits, customer satisfaction, and customer loyalty (Palmatier et al. 2006). Customer engagement is defined as active interactions with a firm, with prospects and with other customers (Kumar et al. 2010). We focus on engagement because consumers’ interactions with brands are now more similar to a multi-party conversation than to a brand-dictated monologue (Deighton and Kornfeld 2009; Hennig-Thurau et al. 2010). Social media platforms including Facebook and Twitter have become integral elements for companies and brands seeking to develop intimate online customer relationships; conversely, they provide consumers an online “soapbox” with which to publish and disseminate personal evaluations...
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