...billion people still live at the bottom of the pyramid with less than US$2 a day even after years of charitable organizations and national governments’ efforts in eradicating poverty. The traditional perspective of the poor being an insignificant market segment is outdated as major markets become more saturated and now, marketing to the BOP serves as a potential area to venture into. It magnified ethical concerns to surface when firms target their products to these ‘aspirational poor’ for profit. However I feel that it is not exploitation for a company to profit from selling soaps, shampoo, personal computers and ice cream and so on, to people with little disposable income. By engaging the poor in commerce is a win-win approach for them as well as the companies, and might be the best way out to poverty as it will ultimately move the poor up the income distribution ladder. It would be a greater harm to the people at the bottom of the pyramid if corporations are to overlook them altogether as they will not be able to enjoy the benefits of globalization without an active engagement and without contact to products and services that represents global quality standards. With firms entering into the BOP market create more choices for the consumers, and at the same time they also benefit in terms of market expansion and additional profit channel. It is not exploitation when company profit from selling necessities like soaps and computers to people with little disposable income because...
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...Grace Cabrillos BSBA-MM 4 Marketing 7 11:30-12:30 March 2, 2016 BOP in ISRAEL and JORDAN 1. As a junior member of your company’s committee to explore new markets, you have received a memo from the chairperson telling you to be prepared at the next meeting to discuss key questions that need to be addressed if the company decides to look further into the possibility of marketing BOP segment. The ultimate goal of this meeting will be to establish a set of general guidelines to use in developing a market strategy for any one of the company’s products to be marketed to the “aspirational poor.” These guidelines need not be company or product specific at this time. In fact, think of the final guideline as a checklist—a series of questions that a company could use as a start in evaluating the potential of a specific BOP market segment for one of its products. Israeli technology is on the leading edge in several fields in particular demand in developing countries, such as dry land agriculture, solar energy, water treatment and distance learning. In many of these fields, demand for new technologies in developing countries for technologies is growing at a much faster pace in developing country markets than in developed country markets. * Who is the BOP? * What is the income level of BOP? * What are some goods BOP save up money for? * What are causes of health concerns? * What is the current distribution method for goods? * What is the current method of transportation...
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...committee to explore new markets, you have received a memo from the chairperson telling you to be prepared at the next meeting to discuss key questions that need to be addressed if the company decides to look further into the possibility of marketing to the BOP segment. The ultimate goal of this meeting will be to establish a set of general guidelines to use in developing a market strategy for any one of the company’s products to be marketed to the “aspirational poor.” These guidelines need to be company or product specific at this time. In fact, think of the final guideline as a checklist – a series of questions that a company could use as a start in evaluating the potential of a specific BOP market segment for one of its products. a. What are BOP market’s needs? b. What does the BOP market lack in terms of services and/or goods? c. Where is the BOP area? i. Rural versus urban d. What are the various forms of transportation in the BOP area? i. What is the infrastructure like in the area and is it reliable/safe? e. What are the BOP’s cultural values and what is of importance to them? i. What do people in these communities do for fun? f. What are the health concerns in the BOP market? i. How can our product benefit the area and environment? g. What forms of entertainment does the BOP area have? i. What types of technology are present? ii. What is readily available? iii. What is affordable? h. What type of income do families have in the BOP area? i. What are their jobs...
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...a memo from the chairperson telling you to be prepared at the next meeting to discuss key questions that need to be addressed if the company decides to look further into the possibility of marketing to the BOP segment. The ultimate goal of this meeting will be to establish a set of general guidelines to use in developing a market strategy for any one of the company’s products to be marketed to the “aspirational poor.” These guidelines need not be company or product specific at this time. In fact, think of the final guideline as a checklist—a series of questions that a company could use as a start in evaluating the potential of a specific BOP market segment for one of its products. * Who is the BOP? * What is the income level of BOP? * What are some goods BOP save up money for? * What are causes of health concerns? * What is the current distribution method for goods? * What is the current method of transportation? * What is the living situation of the average family? * What is the demographic of the BOP? * What is the break up of their expenditure? * What kind of jobs do they have? * What is the age distribution? 2. Marketing to the BOP raises a number of issues revolving around the social responsibility of marketing efforts. Write a position paper either pro or con on one of the following: a. Is it exploitation for a company to profit from selling soaps, shampoo, personal computers, and ice cream, and so on, to people with little...
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...the company emphasize the value of their product? i. Low-income consumers have less discretion when it comes to what they can spend their funds on so it is important to promote a product by emphasizing its long term value and cost savings compared to a competitor’s product. b. What are the best media avenues for reaching low-income consumers? ii. Many low-income consumers rely on their mobile devices as their primary connection to the internet in order to save money that would be spent on home internet service. It would be beneficial to create an excellent mobile experience that would entice them to view and buy the products along with other marketing channels. c. How frequently will the product be advertised? iii. Low-income consumers tend to buy things only on an as–needed basis. So, would it be best to advertise frequently? Consider that they also do not usually buy in bulk. d. Where will the product be targeted? iv. Low-income consumers generally live in less than spacious neighborhoods. With the right kind of ad, those that live in neighborhoods within a close proximity to a store carrying the product would be a great place to start because word of mouth may spread easily and since they only shop as-needed the ad would reach them at just the right times. 2. Is it exploitation for a company to profit selling soaps, shampoos, ice cream, personal computers, and so on, to people with little disposable income? ...
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...used as a guideline to establish possibility and viability of marketing to the BOP. Market opportunity Being the “poor sector” of the pyramid is there a marketing opportunity? Will people who struggle to survive buy convince goods? In analyzing the market opportunity of the BOP, as the case suggest with major markets being more competitive and profits margins per supplier reducing, organizations are now uncovering the potential of tapping the BOP. The BOP is a group that consists of over 4 billion people, that accounts for ¾ of world’s population. Given the size of the market, profitability is obtained by volume of sale rather than an individual sale. (Rafeek, 2009 March 16) For example the Indian BOP market with its vast size and demand, offers a huge opportunity for companies. Out of the 1.12 billion population, 70% live in rural areas, accounting to more than 700 million people at 6,27,000 villages. India’s rural population comprises of 12% of the world’s population presenting a huge market opportunity. As at 2008, this market has grown at an impressive rate of 25%. According to a McKinsey survey conducted, rural India, with a population of 700 million, would become bigger than the total consumer market in countries such as South Korea or Canada and it would grow almost four times from its existing size in the next few years. (Rafeek, 2009 March 16) Consumer bahaviour Having an understanding of the consumers in BOP can help organization enter this...
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...administration of “Aryan institute of management of computer studies”. I WOULD LIKE TO THANK MY PROJECT GUIDES, ALL THE FACULTY MEMBERS. FOR THIS APPROVAL & ALSO FOR HER VALUABLE GUIDANCE & SUPPORT IN COMPLETING MY PROJECT OF COMPARATIVE STUDIES BETWEEN LAKME AND REVLON. LAST BUT NOT THE LEAST I WOULD LIKE TO EXPRESS MY SINCERE THANKS TO THOSE WHO DIRECTLY & INDIRECTLY HELPED IN THIS PROJECT. CONTENTS ➢ Introduction ❖ Brief overview of marketing strategies. ❖ Company Profile of Lakme ❖ Company Profile of Revlon ➢ Various Marketing strategies adopted by the two Company along with product profile ➢ Objectives of the Study ➢ Research Methodology ➢ Data Analysis & Interpretation ➢ Suggestions and Recommendations ➢ Summary & Conclusion ➢ Appendix ❖ Questionnaire ❖ Bibliography INTRODUCTION Within a short span of the last five-six years, the use of cosmetics by Indian consumers has increased significantly with more and more women and men taking greater interest in personal grooming, increasing disposable incomes, changing life styles, influence of satellite television and greater product choice and availability. With the demand for cosmetics on the rise and the opening up of the market to foreign companies, many of the world’s popular cosmetics brands entered...
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...4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 1–1 Starbucks – Going Global Fast | X | X | | X | X | | | | | | X | X | | | | | | | | 1–2 Nestlé – The Infant Formula Incident | | X | X | X | X | | | X | | | X | X | | | | | | | | 1–3 Coke and Pepsi Learn to Compete in India | | | | X | X | X | | | | | X | X | | | | | | | | 1-4 Marketing Microwave Ovens to a New Market Segment | | | | X | X | | | | | | X | X | | | | | | X | | 2–1 The Not-So-Wonderful World of EuroDisney | | | | X | | X | X | X | | | X | | | | | | | X | | 2-2 Cultural Norms, Fair and Lovely, and Advertising | | | | X | X | | | X | | | X | X | | | | | | | | 2–3 Starnes-Brenner Machine Tool Company – To Bribe or Not to Bribe | | | | | X | | X | | | | | | | | | | X | | | 2-4 Ethics and Airbus* | | | | X | X | X | X | | | | | | X | | | | | | | 2–5 Coping with Corruption in Trading with China | | | | | X | X | X | | | | | | | | | | | | | 2–6 When International Buyers and Sellers Disagree | | | | | | | X | | | | | | | | X | | | | | 2-7 McDonald’s and Obesity | | | | X | X | | | | | | X | X | X | | | X | | | | 3-1 International...
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...Test marketing – Product failures – Product life cycles – Meaning and Stages – Strategies – Meaning PLC. Product-Market Integration: Strategies – Product positioning – Diversification – Product line simplification –Planned obsolescence – Branding Policies and Strategies – Packing. UNIT 4 Price Mix Management: Pricing and pricing policies – Objectives – Procedures – Methods of price fixing – Administered and regulated prices – Pricing and product life cycle – Government control of pricing. UNIT 5 Physical Distribution Mix: Distribution channel policy – Choice of channel – Channel management – Conflict and cooperation in channels – Middlemen functions. UNIT 6 Promotional Mix: Personal selling vs impersonal selling – Personal selling – Process – Steps in selling – Management of sales force – Recruitment and selection – Training – Compensation plans – Evaluation of performance – Advertising – Importance – Objectives – Media planning and selection – Factors influencing selection – Advertisement copy – Layout – Evaluation of advertising –...
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...Millenium Edition Philip Kotler Custom Edition for University of Phoenix Excerpts taken from: A Framework for Marketing Management, by Philip Kotler Copyright © 2001by Prentice-Hall, Inc. A Pearson Education Company Upper Saddle River, New Jersey 07458 Marketing Management Millenium Edition, Tenth Edition, by Philip Kotler Copyright © 2000 by Prentice-Hall, Inc. All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher. Compilation Copyright © 2002 by Pearson Custom Publishing. This copyright covers material written expressly for this volume by the editor/s as well as the compilation itself. It does not cover the individual selections herein that first appeared elsewhere. Permission to reprint these has been obtained by Pearson Custom Publishing for this edition only. Further reproduction by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system, must be arranged with the individual copyright holders noted. This special edition published in cooperation with Pearson Custom Publishing Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 Please visit our web site at www.pearsoncustom.com ISBN 0–536–63099-2 BA 993095 PEARSON CUSTOM PUBLISHING 75 Arlington Street, Suite 300, Boston, MA 02116 A Pearson Education Company SECTION ONE Understanding Marketing Management Marketing in the Twenty-First Century ...
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...well-entrenched in marketing; it only has acquired explicitly defined dimensions within which the function operates. To further elucidate the point, there have been functional adjustments within the overall marketing functions only to bring into clear and sharp focus the specific functions and job of brand management. Brand management now presents itself as a distinct part of an integrated marketing approach in which it connects with all the touch points within and outside of the marketing department. The whole concept can be exemplified by seeking your attention toward two fruit baskets; one full of mixed fruits and the other having compartments carrying different fruits of each type in each compartment. Each type comes into a sharper focus! So do the touch points. This course is...
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...Concept, Positioning according to Ries and Trout, Various Tools of Differentiation; Product Decisions and Strategies; Product Mix; Product Life Cycle; Brand Positioning; Brand Identity; Equity and Packaging. Developing Market Strategies and the Offerings - Part II: Introduction to Service Marketing; Differentiating Services; Product and Service Price; Response to Change in Price; Pricing Strategies. Delivering Marketing Programs – Part I Marketing through Channel Partners; Wholesalers and Retailers: Current Trend; Channel Management. Delivering Marketing Programs – Part II Market Communication, Process for Effective Communication; Advertising; Different Advertising Media; Sales Promotion; Public Relations; Direct Marketing; Personal Selling: Concepts and Process; Management of Sales Force Suggested Reading: 1. Marketing Management by Kotler Philip; Publisher: Prentice-Hall of India 2. Marketing Management by Ramaswamy V S and Namakumari; Publisher: S Macmillan India Ltd. 3. Marketing Management by Saxena Rajan; Publisher: Tata McGraw-Hill 4. Marketing in India Cases and Readings by Neelamegham S; Publisher: Vikas...
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...employment opportunities in all urban areas. This study, the second undertaken by ICRIER on the retail industry, attempts to rigorously analyse the impact of organized retailing on different segments of the economy. No distinction has been made between foreign and domestic players, in analyzing the impact of the increasing trend of large corporates entering the retail trade in the country. The findings of this study are based on the largest ever survey of unorganized retailers (the so-called “mom and pop stores”), consumers, farmers, intermediaries, manufacturers, and organized retailers. In addition, an extensive review of international experience, particularly of emerging countries of relevance to India, has also been carried out as part of the study. The study estimates that the total retail business in India will grow at 13 per cent annually from US$ 322 billion in 2006-07 to US$ 590 billion in 2011-12. The unorganized retail sector is expected to grow at approximately 10 per cent per annum with sales rising from US$ 309 billion in 2006-07 to US$ 496 billion. Organized retail, which constituted a low four per cent of total retail in 2006-07, is estimated to grow at 45-50 per cent per annum and attain a 16 per cent share of total retail by 2011-12. In short, both unorganized and organized retail are bound not only to coexist but also achieve rapid and sustained growth in the coming years. This is clearly not a case of a zero sum game as both organized and unorganized retail will see...
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...SECTION - I 1 INTRODUCTION TO MARKETING PART I Unit Structure 1.0 Objectives 1.1 Introduction 1.2 Meaning & Definitions of marketing 1.3 Importance of marketing 1.4 Scope of marketing 1.5 Concepts of marketing 1.6 Role of marketing manager in changing environment 1.7 Summary 1.8 Exercise 1.0 OBJECTIVES After studying this chapter students will be able to: Understand the meaning and definition of marketing. Explain the nature of marketing Discuss the importance of marketing Know the scope of marketing Explain the concepts of marketing 1.1 INTRODUCTION The emergence of ‗marketing‘ as a business discipline is of relatively recent origin. Though it has been practiced from the time of barter through money economy to today‘s modern complex marketing system, exchanges have been taking place. The ideas associated with marketing have undergone a great deal of change over centuries. Even after marketing became a full–fledged business discipline. Marketing, more than any other business function, deals with customer. It revolves around the customer. Building relationship based on customer value and satisfaction is at the very heart of modern marketing. The pricing strategies adopted the promotional tools selected; the design, shape and size of the product and the place of sales etc. are all decided after finding out the lifestyle, culture, buying habits and media consumption habits etc of all customers Marketing links producers and consumers together for mutual...
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...statements about marketing is true? A) It is of little importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firm's intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit organizations. Answer: B Page Ref: 4 Objective: 1 Difficulty: Easy 2) ________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. A) Marketing management B) Knowledge management C) Operations management D) Strategic management E) Distribution management Answer: A Page Ref: 5 Objective: 2 Difficulty: Easy 3) Identify the correct statement about marketing management. A) It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services. B) It focuses mostly on monitoring the profitability of a company's products and services. C) It focuses solely on attaining an organization's sales goals in an efficient manner. D) It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy. E) It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties. Answer: E Page Ref: 5 ...
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