...Term Paper Title : Strategic Planning and the Marketing Process (Chapter: 2) Prepared For : Syed Abul Kalam Azad Professor Department of Marketing Faculty of Business Studies University of Dhaka Members Profile : (i) Md. Ershadul Islam Id no: 41323024 E-mail: ershad1811@yahoo.com Phone: 01717-461080 Position: Manager (ii) Md. Masum Sarder Id no: 41323033 E-mail: masum.sarder@gmail.com Phone: 01913-135057 Position: Executive (iii) Abu Nasar Zahid-Al-Mahmud Id no: 41323008 E-mail: saadi013@yahoo.com Phone: 01912-027058 ...
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...Developing a construction marketing plan and strategy is critical to the success of your organization. The term "marketing" is often misunderstood and used incorrectly. Marketing is much more than selling or advertising. Marketing is the strategic plan that you develop for your organization that looks at your construction company's strengths and weaknesses; the areas in which you have a competitive advantage; the market(s) that you will target your sales focus on; the demographics of your chosen market; and the pricing structure that you plan to use. While advertising is often confused with marketing (as is strictly selling), it is just one piece of a solid marketing plan. To use a farming analogy, if I may, marketing is akin to analyzing crop prices, field conditions and determining what crop to plant-advertising and public outreach nurtures the seedlings, and selling harvests the results. Each component is a part of the larger strategy and depends on the other for success. As with most issues involving a construction business, planning and preparation are paramount, as well as measuring the results. We can't take a break from fundamental business practices. It's important to understand the general steps necessary to create and implement a construction marketing plan for your business. The size of the marketing budgets will vary, as will the intended target market. Ultimately the development of a marketing strategy comes down to similar steps that can be used for...
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...Assessing the Market Place: Developing Marketing Strategies & a Marketing Plan I studied several topics during the period of this course but Developing Marketing Strategies & a Marketing Plan was one of my favorite topics. The title of the topic caught my attention right away. I really enjoyed all the other topics but this topic was by far the most enjoyable and helpful. I also chose this topic because it taught me a lot. I learned about developing marketing strategies, the marketing plan, and the growth strategies. This information will one day be of much use in my future career as a business manager. During this course I had the opportunity to learn about marketing, I enjoyed every topic but Developing Marketing Strategies & Marketing Plan was not hard to choose as my favorite topic because it was indeed the most interesting topic. This topic caught my attention and I was not disappointed after I read the section. As I read this section on my book it was very pleasant to be able to understand and define marketing strategy as well as other new contents about marketing itself. I was able to learn different marketing strategies that focus on aspects of the marketing mix to create and deliver value and to develop sustainable competitive advantages. I learned about customer excellence, operational excellence, product excellence, location excellence, and the multiple sources of advantage. I also learned the marketing plan that describe its elements and that the marketing...
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...Running head: DEVELOPING A STRATEGIC BUSINESS PLAN DEVELOPING A STRATEGIC BUSINESS PLAN Student Name: Tutor’s Name: Submission date: Developing a Strategic Business Plan A strategic business plan is a tool developed in preparation for establishment of a new business ventures and additionally, in improving business operations. Kolter (2009) stresses the importance of this tool as a prerequisite to business modeling. However, it is likewise important to understand what constitutes a strategic business plan before attempting to develop one. A strategic business plan takes into consideration all the variables that affect business performance. This includes internal and external variables. Kaye (2007) states that a strategic business plan must incorporate all the likely variables regardless of the magnitude of effect associated with them. An effective strategic business plan can be defined as one which identifies, analyzes, and draws conclusions with respect to variables that dictate business equilibrium shift. Such a plan is constituted of three important elements, namely: resources available, market scope and business operations (Kolter, 2009). Resources determine how successfully a business operates. This includes financial resources, human resource, and material requirements. Strategic business plans help an entity in determination of staff requirements, financial obligations, and raw materials required in advance making it possible for easy budgeting...
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...Introduction: As a marketing consultant, I have been asked by the Marketing Director of Unilever Company to advice on how and why they should strategically plan their future marketing plans. Unilever is world’s top Fast Moving Consumer Goods Company with a heritage of over 122 years.Unilever Limited is a leading consumer goods manufacturer it s product used in 190 countries. The company is committed to provide a range of diversity in the products as its consumer base. It targeting the emerging market with a low price LUX bath soap at the same time it target the high class customers with the Pears soap, which have comparative high price. Unilever deals in more than 400 brands, and 12 of which are responsible for approx £1 billion sales figure each product. According to a company survey and analyzing the turnover it estimated that more than 1 billion people use the Unilever product on daily basis to provide natural solution healthy and holistic lifestyle (www.unilever.com accessed on 12 august 2012). Most of the products are herbal based and very friendly to the health without any adverse effects. The company is manufacturing a variety of products and marketing in order to keep the loyalty of customers worldwide. Through research and development facilities the products are developed as per the emerging demands of the customers. In current, Unilever spend £1 billion on regular year program spend in research and development of the products. Innovation is the main key...
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...organization? What does a marketing plan include? Developing Marketing Strategies And Plans In this chapter, mainly the following points have been discussed Developing the right marketing strategy over time, through discipline and a creative Supply Chain Many companies today outsource less critical resources if they can obtain better quality or lower cost. Also, many companies partner with specific suppliers and distributors to create a superior value delivery network, also known as Supply Chain. thought process can go a long way in the marketing management process. Firms must constantly strive to improve every aspect of their strategy and the plans to guide the marketing process. The Value Delivery Process In the new view of business processes, marketing is viewed at the beginning of the planning stage. A smart competitor must design and deliver products for well-defined micro-markets and cater to their specific wants, perceptions and preferences. The Value Creation and Delivery Sequence can be divided into two segments of marketing: Strategic Marketing and Tactical Marketing. Core Competencies Core Competency refers to areas of special technical and production expertise, whereas distinctive capability describes excellence in broader business processes. Market-driven organizations generally excel in three distinctive capabilities: market sensing, customer linking and channel bonding. Chapter 2 - Developing Marketing Strategies And Plans A firm must coordinate all...
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...Task: Marketing Plan Analysis – Research Project Title: Etihad Airways - Marketing Plan Date: 20th November 2014 Company Background Etihad Airways is the national carrier of the United Arab Emirates, as well as carrier of the Abu Dhabi region. Royal (Amiri) Decree of Abu Dhabi first established Etihad Airways in July 2003 (Rodrigues, 2010, Etihad Airways – Marketing Plan). The Airline since commenced its commercial operations in November 2003, taking the lead in the fasting growing Airlines in the history of commercial aviation (2014, Etihad Airways). Synopsis This business report will critically analyse the extent to which, the five elements of the marketing process is addressed in the Etihad Airways Marketing Plan. The report will be divided into six main categories under the Marketing Process, they include; Situational Analysis, Market Research, Establishing Marketing objectives, Identifying Target Markets and Developing Marketing Strategies. In continuation, this report will address areas of strength and weakness in the business as well as three realistic recommendations to improve the Airlines marketing plan. Page 2 Table of Contents 1. Situational analysis…………………………………………………………….4 2. Market Research………………………………………………………………..5 3. Establishing Marketing Objectives………………………………………….6 4. Identifying Target Markets…………………………………………………….7 5. Developing Marketing Strategies…………………………………………….7 6. Implementation, Monitoring and controlling...
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...Communications Plan Danisha Howard, LaMeka Calhoun, Amy Saal, Jameka Styles, Dareth Stover MKT/571 April 29, 2013 Dr. Armando Salas-Amaro Team C is looking to implement a communications plan for our product launch. We plan to include both your domestic and international markets information to back our decision for the plan. In this paper we will discuss the following: factors involved in developing and managing an effective marketing communications plan, advertising and promotion programs for the new products, technology trends, and finally compare and contrast the marketing communication strategies for both your domestic and international markets. Developing and Managing an Effective Marketing Communications Plan Kudler Fine Foods is attempting to enter the international customer market in China and United Kingdom and an effective integrated marketing communication plan is essential for the success of the company. Because of globalization and increased competition in the international market, it is vital that Kudler Fine Foods concentrate their efforts on the targeted consumers’ satisfaction with their product. The integrated marketing communication plan will have to inform, communicate, entice, grow, and retain their customer base in the United States, China, and the United Kingdom. Marketing communications allow companies the ability to inform, persuade, and remind consumers about the products and brands that they sell. The voice of the brand can establish...
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...In today’s global market place strategic management planning is more important than ever. Developing a strategic management plan is vital to the future of the organization. First and foremost the strategic plan lays down a solid foundation for growth, defining company goals, direction the company is going in the future, and how it is going to get there. A strategic management plan is just like it sounds, it manages the steps along the path leading into the future making sure company goals are meet and if not what changes need to be made in order to stay on course. Developing a strategic management plan can be difficult. Implementing an environmental scan will help identify both internal and external problems and influences used to build or change and existing strategic management plan. Several factors can influence the planning process. Many of the factors can be identified and taken into consideration when planning for the future. No matter how well an organization builds their strategic management plan there are always going to be unforeseen problems that will need to be addressed. Developing a strategic management plan that is able to manage change is essential to the success of the organization. Changes in market trends, consumer demands, and technological advancements are just a few areas change is inevitable. If the strategic management plan is going to work it must manage and implement changes in both internal and external environments. Two organizations that have continuously...
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...Interest Area form the same way than any other topic. It should be noted that the students selected to do the thesis from these topics must be motivated and committed for the work. Please do not contact these organizations yourself before the selection process has been completed for all students. More information on topics can be asked from Mari Syväoja or Tomi Heimonen. Organization: Thesis Biofenno projects for (www.biofenno.fi) companies and organizations Selected Thesis Topics for companies and organizations Internationalization plan Plan how to take and promote product Tuovi Tuotevirtakirjanpito to EU markets. Tuovi Tuotevirtakirjanpito is a stock and feed recording program for organic farmers. It produces necessary stock and feed reports for annual inspection. Also stock balance reporting benefits farm managements. Because Tuovi Tuotevirtakirjanpito complies with all the regulations EU has set for organic farmers, it has possible markets in EU. Aalto School of Competitive environment of Small Business Center Business, The Aalto Small Business Center wants to produce an analysis of their competitive environment in Small Business Center terms of areas of expertise, product segments etc. in order to differentiate themselves from their (www. competitors and to clarify their strategic areas of competence. The...
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...Partial Fulfilment of the Requirements of the Degree of Master by Coursework in International Policy Studies School of Politics Faculty of Humanities and Social Sciences La Trobe University Bundoora, Victoria 3083 Australia 2 July 2005 Abstract The Brazilian economy transformed from a state of financial crisis in the 1980’s to become a leading agriculture exporter in the late 1990’s. Economic reforms implemented by the Real Plan were a response to a bankrupt decade of failed economic plans and high inflation rates. In this period agriculture played a key role in the control of the inflation and in the stabilization of the economy. The domestic environment of the Brazilian economy and the role of agriculture helped Brazil to develop a more active role and led it to seek for a leadership position in the international agricultural negotiations. On the eve on the WTO’s Cancun Round of negotiation a new coalition of developing countries formed the G-20. The Group was born from a Brazilian initiative and for the first time a group of developing countries stood up against the developed countries in the agriculture negotiations. 3 Acknowledgments I would like to dedicate this thesis to my mother Ana and my brother Matheus. Who believed in me even when I did not. I love you guys. I would like to thank my Father for the support, during the whole process, even at 4 am, William Wyle my good friend and housemate, Celina Italiano and her beautiful family, my adviser Anthony...
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...Chapter 4- slide 1 Learning Objectives Topic Outline • • • • • • • Marketing Information and Customer Insights Assessing Marketing Information Needs Developing Marketing Information Marketing Research Analyzing Marketing Information Distributing and Using Marketing Information Other Marketing Information Considerations Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 2 Marketing Information and Customer Insights Customer Insights are: • Fresh and deep insights into customers needs and wants • Difficult to obtain – Not obvious – Customer’s unsure of their behavior • Not derived from more information but better information and more effective use of existing information Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 3 Marketing Information and Customer Insights Customer Insights • Companies are forming customer insights teams – Include all company functional areas – Use insights to create more value for their customers – Customer controlled could be a problem Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 4 Marketing Information and Customer Insights Marketing Information Systems (MIS) Marketing information system (MIS) consists of people and procedures for: – – – Assessing the information needs Developing needed information Helping decision makers use the information for customer Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter...
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...dependent on numerous factors. Taking an idea and developing it in to a sustainable business requires careful planning, committed execution, and a sufficient market demand. Lakota Hills and it’s entry in to the specialty foods market is one example of a small organization attempting to expand. What are the advantages and challenges of developing a specialty foods business? Does Lakota Hills have a sound strategy to build their business? What channels might they incorporate into their current strategy? How will Lakota Hills make money and are they a sound investment? Answers to these questions can be found by examining their current operations, business plan, and market opportunities. The specialty food business provides numerous advantages for an entrepreneur. The most prominent advantage is that almost anyone with a unique product has the opportunity for great success. For instance, many families have recipes that are passed down from generation to generation and often the primary catalyst to this succession is the quality of the end result. Some specialty retailers focus on the most delicious and unique foods available, others may focus on bringing consumers the healthiest and freshest options possible. Regardless of the exact niche the market opportunity exits to companies that can provide a high quality product for an appropriate price. Another benefit of specialty foods is customer loyalty. Consumers in the specialty foods market often become repeat customers, provide word of...
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...Contents Introduction 3 Task 1: Whom to target in the market…………………………………………………………………………………………………………………………………………………….3 Task 2 :Connecting with customers through positioning strategy……………………………………………………………7 Task 3 Developing marketing plans and Strategies…………………………………………………………………………………10 Task 4: Alliance with other Companies…………………………………………………………………………………………………. 13 Conclusion:…………………………………………………………………………………………………………………………………………… 15 Reference………………………………………………………………………………………………………………………………………………16 Introduction This report is based on Promise or Pay Company that intends to conduct market research to campaign the service that is dealt by the organization. The aim of the company is to promote charity work and to make it interesting and effective through different techniques. As Promise or Pay combines achieving a goal and share with others by enabling individuals to make a public promise to do something and if they fail to follow then they will pay a nominated amount of money to the charity. Marketing strategies are quite an important factor that can help the management to progress and acquire new and effective markets in order to fulfill their goals. By implementing effective marketing strategies, the company prepares and plans for systematic designing, collecting, analyzing, and reporting the data that will be useful for making plan full strategies. As the level of competition is increasing...
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...4. Describe the elements of a customer-driven marketing strategy and mix, and the forces that influence it. 5. List the marketing management functions, including the elements of a marketing plan. COMPANYWIDE STRATEGIC PLANNING: DEFINING MARKETING’S ROLE The task of selecting an overall company strategy for long-run survival and growth is called strategic planning. Companies typically prepare annual plans, long-range plans, and strategic plans. Strategic planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing market opportunities. Refer to Figure 2.1 on pg. 63, which shows the 4 steps in strategic planning. 1. Defining a Market-Oriented Mission Many organizations develop formal mission statements. A mission statement is a statement of the organization’s purpose – what it wants to accomplish in the larger environment. A clear mission statement guides people in the organization. A market-oriented mission statement defines the business in terms of satisfying basic customer needs. See Table 2.1 (pg. 64) for market-oriented vs. product-oriented definitions. Management should avoid making its mission too narrow or too broad. Missions should be realistic, specific, fit the market environment, based on the company’s distinctive competencies, and motivating. 2. Setting Company Objectives and Goals The company’s mission needs to be turned into detailed supporting objectives...
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