...INDIAN SCHOOL, DOHA – QATAR COMMERCE DEPARTMENT BUSINESS STUDIES- XII-NOTES ________________________________________________________________ MARKETING MANAGEMENT CONCEPT MAPPING: 1. Market, Consumer, Seller / Marketer – meaning 2. Marketing – meaning, Features – Role 3. Marketing Management – Measuring Nature and Objectives 4. Difference between marketing and selling 5. Marketing Functions 6. Marketing Mix – product, price, place and promotion 7. Advertising – meaning, features, merits and limitations. 8. Various media of Advertising and Media selection. 9. Objections to advertising 10. Sales promotion and Trade promotion – meaning and variety of Tools / methods used. 11. Personal selling – measuring features and steps in sales process 12. Publicity and Public Relations – meaning and methods used. LEARNING OBJECTIVES Market, Customer, Seller / Marketer – meaning Meaning Functions and Role of Marketing Marketing Management – meaning Nature and objectives Difference between marketing and selling Marketing Functions Marketing mix – concept and elements Meaning Role and Limitations of Advertising Media for Advertising, Media Selection Objections to Advertising. Sales promotions / Trade promotion – meaning and variety of Tools / Methods used Personnal selling – meaning, Features and steps in sales process. Publicity and public relations – meaning and methods used. KEY CONCEPTS IN NUTSHELL: MARKET : It refers to a place...
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...MARKETING ASSIGNMENT BY ABHISHEK VARMA QUESTION 1 Definition of marketing – Wikipedia defines marketing as “a societal process that is needed to discern consumer wants; forcing on a product and service to those wants and to mould the consumer towards the product and service”. Marketing tends to be seen a creative industry ,which include advertising distribution and selling .it is also concerned with anticipating the customer future needs and wants often through market research American marketing association defines marketing “an organization function and a set of processes for creating, communicating and delivering value to customer relationship in ways that benefit the organization and its stake holder” As time went on people think of marketing in different manner new technology and techniques have been designed and each market change the definition of marketing suit on own preferences Personally marketing defined as all aspect starting with the idea of creating of a product through the completion of the sell. All the action that tends to take place before proceeding and the entire step in between are considered the marketing process. Marketing is host of activities from concept of new idea, innovations, promotions and advertising .the entire marketing department has to work together on each pieces in order for the organization to be successful .research needs...
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...NEW LINE IN MOBILE PHONES: A Case Study As final requirement for the course MARKETING MANAGEMENT KAYE MICHELLE B. VILLAFLOR 2015-1515 DR. RUBEN A. SANCHEZ, MBA, DPA Professor 16 August 2015 INDIVIDUAL CASE STUDY NEW LINE IN MOBILE PHONES 1. Identify the principal benefits to customers which derive from a mobile phone. What differences are likely to exist between market segments? Figure 1: Evolution of Mobile Phones – the image shows a line-up of famous mobile phone brand and models over the years from the birth of wireless communication; that is from the first generation (analog) to the fourth generation (smartphones) (tanwang, 2015) Figure 1: Evolution of Mobile Phones – the image shows a line-up of famous mobile phone brand and models over the years from the birth of wireless communication; that is from the first generation (analog) to the fourth generation (smartphones) (tanwang, 2015) When mobile phones were first introduced, the only benefit they provided is the communication made easy and mobile. The core function then was to provide consumers with wireless telephones which will enable them to make and receive phone calls wherever they are. Then there was the technology of beeper also known as pager where people receives messages wherever they are especially when needed. During the early years of mobile phones and pagers, having either of the two (or both) is already a luxury. But as technology advances in a glimpse of the eyes and paved the...
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...McBride's Financial Services Bryan Mills BSA 310 09-03-2012 Donn Leiske McBride's Financial Services McBride Financial Service is a low cost mortgage service that is using new technology. McBride Financial Service is a start-up regional mortgage lender headquartered in Boise, Idaho. The firm will specialize in conventional, FHA, and VA loans for home purchasing and refinancing. McBride Financial Service has locations in five states Idaho, Montana, Wyoming, North Dakota, and South Dakota and provides low cost mortgage services. The clients that they serve are professionals purchasing a primary or secondary home, retirees purchasing a primary or secondary home, and families or individuals purchasing recreational properties. McBride Financial Service is trying to increase the customer base and needs some ideas to implement into the new marketing plan. The purpose of this paper is to critique ideas to expand the customer base for McBride Financial Services. The paper will be covering the market research that should be undertaken. The paper will show, which media type would be the best choice to use and why. The paper will also show what McBride Financial Service target markets should be, and explain why McBride Financial Services should use these markets. Finally, the paper will show the considerations for McBride to conduct a portion of their marketing on the Internet and the reasons McBride Financial Services should use these services. The first thing that will be covered...
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...information of product 4 2. Application of 4P’s of Marketing and iPhone 5 5 2.1 Product 5 2.1.1 Design 5 2.1.2 Features 6 2.1.3 Brand Image 7 2.2 Price 7 2.3 Promotion 9 2.4 Place 12 3. Conclusion 13 References 14 Figure 1 10 Figure 2 11 1. INTRODUCTION Marketing is defined by Dr Philip Kotler as “The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires.” (Goldblatt 2012, p 238) Therefore, marketing is the process that enlightens the potential customers about how a product or service is capable of delivering the value. This paper aims to analyze the 4P’s of marketing and how they are helpful in devising an effective marketing strategy capable of depicting the significance of the product in the customers’ life. For this purpose, iPhone 5 has been selected as the product for analysis. 1.1 Background of 4P’s principal 4P’s stands for four basic elements involved in the marketing of a commodity. These elements include Product, Price, Promotion and Place. This classification was first proposed by E. Jerome McCarthy in 1960s and ever since it has become an important part of the marketing strategies of organizations around the world (Middleton 2012). The four P’s represent four controllable factors which can be manipulated by the management of a company in order to create value for a product or service in the minds of potential customers. The management...
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...What is product differentiation? Product differentiation comes in different ways: form, features, customization, performance quality, durability, reliability, etc. Some examples: Many products can be differentiated in form—the size, shape, or physical structure of a product. Most products can be offered with varying features that supplement their basic function. Marketers can differentiate products by customizing them as well. Most products occupy one of four performance levels: low, average, high, or superior. Performance quality is the level at which the product’s primary characteristics operate. Quality is increasingly important for differentiation as companies adopt a value model and provide higher quality for less money. What is services differentiation? When the physical product cannot easily be differentiated, the key to competitive success may lie in adding valued services and improving their quality. The main service differentiators are ordering ease, delivery, installation, customer training, customer consulting, and maintenance and repair. What is bundling? Sellers often bundle products and features. Pure bundling occurs when a firm offers its products only as a bundle. A talent agency might insist that a “hot” actor can be signed to a film only if the film company also accepts other talents the agency represented (directors, writers). This is a form of tied-in sales. In mixed bundling, the seller offers goods both individually and in bundles, normally...
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...3 1.2 Purpose of the report 4 1.3 Brief information of product 4 2. Application of 4P’s of Marketing and iPhone 5 5 2.1 Product 5 2.1.1 Value through Design 6 2.1.2 Value through Features 7 2.1.3 Value through Brand Image 7 2.2 Price 8 2.2.1 Value through Price Options 8 2.2.2 Value through Purchase Options 8 2.2.3 Value through Higher Benefits vs. Price 9 References 10 Figure 1 10 Figure 2 11 1. INTRODUCTION Marketing is defined by Dr Philip Kotler as “The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires.” (Goldblatt 2012, p 238) Therefore, marketing is the process that enlightens the potential customers about how a product or service is capable of delivering the value. This paper aims to analyze the 4P’s of marketing and how they are helpful in devising an effective marketing strategy capable of depicting the significance of the product in the customers’ life. For this purpose, iPhone 5 has been selected as the product for analysis. 1.1 Background of 4P’s principal 4P’s stands for four basic elements involved in the marketing of a commodity. These elements include Product, Price, Promotion and Place. This classification was first proposed by E. Jerome McCarthy in 1960s and ever since it has become an important part of the marketing strategies of organizations around the world (Middleton 2012). The four P’s represent four controllable...
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...custom mobile friendly website for (CLIENT DOMAIN). The mobile friendly website will be designed to ultimately drive customer retention and overall sales for (CLIENT NAME). Introduction DEAR (CLIENT), We welcome the opportunity to build a cutting-edge mobile website and deploy to market a mobile app for (CLIENT NAME) that will increase sales and customer retention. (YOUR COMPANY) is a mobile marketing agency focused on providing cost-effective mobile marketing tools. From iPhone applications to iPad applications to HTML5 applications (YOUR COMPANY) delivers mobile apps and mobile websites on every platform. (YOUR COMPANY) will put you in front of your customers on devices they access most with information and tools that make it easy for (YOUR COMPANY) to connect with their mobile audience. (YOUR COMPANY)’s commitment to reaching their audience with targeted mobile marketing will put you far ahead of your competitors. We’re here to help with all your mobile marketing needs and we have thorough analytics that are measurable for making strategic mobile marketing decisions. If you have any questions, regarding (YOUR COMPANY),...
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...marketer can use these to make product awareness. Then, I've placed the products in the tangibility continuum and I have the reasoned out why I placed each product in the tangibility continuum. The chosen service product is further analyzed and given methods of how to improve the tangibility of it. Chapter 02 Product levels Introduction of 5 product levels In the 1960's, the economist Philip Kotler changed the perception of marketing. He described what marketing is rather than what marketers do, thereby changing marketing from a departmental specialization into a corporate wide doctrine. For Kotler, marketing was a 'social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others'. For him, a product is more than physical. A product is anything that can be offered to a market for attention, acquisition, or use, or something that can satisfy a need or want. Therefore, a product can be a physical good, a service, a retail store, a person, an organization, a place or even an idea. Products are the means to an end wherein the end is the satisfaction of customer needs or wants. Kotler distinguished three components: need: a lack of a basic requirement; want: a specific requirement for products or services to match a need; demand: a set of wants plus the desire and ability to pay for the exchange. Customers will choose a product based on their perceived value of it. Satisfaction is the degree to which...
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...Marketing Processes and Consumer Behavior Chapter Overview Many students think that marketing is merely sales or advertising. Actually, sales and advertising are just a small part of the overall marketing process. Think of a product that you buy often. You might not realize that everything about that product—from the time it is created, produced, packaged, and shipped to you—involves various facets of marketing. This chapter explains the concept of marketing and discusses the five forces that constitute the external marketing environment. It also explains the purpose of a marketing plan, identifies the four components of the marketing mix, and discusses the necessity of identifying market segments. As the chapter unfolds, many variables surrounding both the consumer and organizational markets are discussed, as well as a focus on distinguishing features between products and services and the importance of branding and packaging. The chapter also discusses the consumer buying process, organizational markets, and key considerations in the new product development process. Finally, it looks at the challenges that arise in adopting an international marketing mix and the ways in which small businesses can benefit from an understanding of the marketing mix. Learning Objectives A. Explain the concept of marketing and identify the five forces that constitute the external marketing environment. B. Explain market segmentation and how it is used in target marketing. ...
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...telecommunications signal or the marketing term for wireless Internet access through a portable modem , mobile phone or other mobile device. Mobile broadband, also referred to as WWAN (for Wireless Wide Area Network) On the other hand , broadband services provides higher-speed of data transmission. It allows more content to be carried through the transmission “pipeline.” What is WAP ? WAP stands for Wireless Application Protocol . Its a technical standard for accessing information over a mobile wireless network. A WAP browser is a web browser for mobile devices such as mobile phones that uses the protocol. Advantages of Broadband compared to WAP 1. Connection speed is up to 100 times faster than dialup connection. You can download pictures files, software in seconds or minutes instead of hours. Online gaming is only possible using a broadband internet access. 2. It does not affect the phone line. For DSL internet access, you can use the same phone line for both voice/fax and data transmission. For cable internet access, you are connected to the internet via the cable network. In either case, your phone line is not occupied while you are connected to the internet. 3. It is convenient because the internet connection is always on. 4. You don't need to dial an access number and risk getting a busy signal. 5. Broadband internet offers unlimited access and you won't be charged based on the connection duration. Company that provide this Broadband services ? There are...
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...COMPANY BACKGROUND [pic] [pic] Introduction of Dell Inc. Dell Inc. is a multinational technology corporation that develops, manufactures, sells, and supports personal computer and other computer related-products. Dell Inc. based in Round Rock, Texas. Dell Inc. employs more than 82,700 people worldwide. Dell Inc. grew during the 1980s and 1990s to become (for a time) the largest seller of PCs and servers. As of 2008 it held the second spot in computer sales within the industry behind HP. The company currently sells personal computers, servers, data storage devices, network switches, software and computer peripherals. Dell Inc. also sells HDTVs that are manufactured by other brands. In 2006, Fortune Magazine ranked Dell Inc. as the 25th-largest company in the Fortune 500 list, 8th on its annual “Top 20” list of the most admired companies in the United States, In 2007 Dell Inc. ranked 34th and 8th respectively on the equivalent lists for the year. A 2006 identified Dell Inc. as one of 38 high-performance companies in the S&P 500 which had consistently out-performed the market over the previous 15 years. History Background and Origins While a student at the University of Texas at Austin in 1984, Michael Dell founded the company as PC's Limited with capital of $1000.[5] Operating from Michael Dell's off-campus dorm-room at Dobie Center [1], the startup aimed to sell IBM PC-compatible computers built from stock components. Michael Dell started trading in the belief...
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...There are many things to consider and tasks to complete when developing General Electrics (GE) marketing plan for the smart refrigerator. The marketing team must identify the target market of organizational buyers and consumers and the factors that influence their purchasing decisions. Current competitors, their products and, how they market these products must be analyzed. This will help GE to improve the product and ensure that its product has unique qualities. Once these tasks have been completed a strategy can begin that will develop into a marketing plan that will reach the target audience. Identify the segmentation criteria that will affect your target market selected To determine the profitability of the GE Smart Refrigerator, GE will need to conduct a preliminary study of the target market. The method behind the study is known as market segmentation. Investopedia defines market segmentation as “a marketing term referring to the aggregation of prospective buyers into groups (segments) that have common needs and will respond similarly to a marketing action” (Investopedia, n/d). This method will allow GE to identify groups of consumers and how they will react to the product and marketing campaign. Therefore, certain criteria must be met for segmentation to be successful. These criteria are substantiality, easily identified, measurability, accessibility, and responsiveness (DeFoe, n/d). To be profitable, there must be a large enough consumer base with a need for this new...
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...Consumer Behaviour Theory Analysis In Nokia And Motorola Marketing Essay ukessays.com /essays/marketing/consumer-behaviour-theory-analysis-in-nokia-and-motorolamarketing-essay.php The company manufactures mobile devices for almost every key market segment and protocol that also involves GSM, CDMA, and W-CDMA. In addition to manufacturing mobile devices the company also offers various internet services like applications, maps, games, media, music and messaging (Nokia Looks Beyond, 2004). The company’s subsidiary “Nokia Siemens Networks” manufactures telecommunications network equipment, resolutions and services. Moreover, the company also serves its customers with free digital map information and navigation services (About Nokia, 2010). The company operates as a leader in the mobile telecommunications and this competency of the company depends upon its abundant experience, technology invention and precise marketing strategy. In the product category of mobile-phone brand, Nokia has attained number one position and it is all due to its approach towards its customers. In this project the product category selected for the discussion is “mobile phones” in which Nokia has established itself as leading brand in comparison to any other mobile phone manufacturer. With its advanced technologies and features the company has established itself a well-known brand in the mobile phone category (About Nokia, 2010). The company believes in offering handsets with attractive designs, advanced applications...
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...Marketing Mix MKT/421 February 11, 2013 Ron Stripe Marketing takes a day to learn. Unfortunately it takes a lifetime to master – Phil Kolter. Marketing involves so much more than simply selling a product or service. It involves planning and preparations that requires an organization to connect with their customers on a much deeper level. A marketing mix is one of the most valuable tools an organization can utilize to create such a connection. The marketing of an organization includes so many variables; therefore, it is necessary to categorize these variables by product, price, place, and promotion, which are the 4P’s of the marketing mix. These categories are the framework for just about every successful organization in today’s market. An organization like Fisher-Price understands how important a marketing mix is to compete in a market that is saturated with developing young minds; which in fact, was the driving force behind their refreshing new approach to stay connected with today’s moms. The Marketing Mix What is a marketing mix and how does it affect an organization? The answer to this question is what all business owners and managers need to know to contend in the highly competitive market of this day and age. The term "marketing-mix," was first coined by Neil Borden, the president of the American Marketing Association in 1953. It is still used today to make important decisions that lead to the execution of a marketing plan. The various approaches that are used...
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