...The speed of change in the digital economy • Marketing Myopia Page 1 of 2 The speed of change in the digital economy • Archive • RSS Marketing Myopia Many companies define themselves almost completely through the product or services they offer. This is a common approach that can seriously narrow the focus. Extensive attention on products rather than customers’ needs, create a “marketing myopia” resulting in business nearsightedness or shortsightedness. The most important question is therefore, “What business are we really in?” from the perspective of what customer want. What do people really want when they acquire a product or a service? This question directly impacts the strategy and the value proposition definition Companies need to understand the difference between a product and a commodity: • A product is what customer feels about your business • A commodity is anything for which there is a demand, but which is supplied without qualitative differentiation across a market Kodak is a great example in which marketing myopia was present. The digital camera was invented at Kodak in 1975. But instead of marketing the new technology, the company kept it under wraps for fear of hurting its lucrative film business. And when Kodak decided to get in the game it was too late. Kodak had the myopic view that the company was in the film business rather than the story telling business. But customers aren’t buying cameras and film as much as they are buying a record of their memories...
Words: 596 - Pages: 3
...MARKETERS Trends in Industrial Marketing 2012: How Manufacturers are Marketing Today »»» Industry trends and research rePOrts fOr IndustrIal marketers Contents GlobalSpec Industrial Marketing Trends Survey .................................................................................. 3 Highlights from the Survey Results .................................................................................................... 3 Conclusions ........................................................................................................................................ 4 Recommendations ............................................................................................................................. 5 Marketing Goals and Challenges ....................................................................................................... 7 Marketing Channels and Programs..................................................................................................... 9 Marketing Budgets and Sales Expectations ..................................................................................... 13 The GlobalSpec Advantage .............................................................................................................. 17 About GlobalSpec, Inc. ..................................................................................................................... 18 Graphs What is your primary marketing goal in 2012?........................
Words: 3737 - Pages: 15
... OVERVIEW OF INVESTMENT AND IMPACT ON FINANCIAL DEPARTMENT: 1 Section 2.0 2 LINKAGES WITH OTHER DEPARTMENTS: 2 Section 3.0 3 MILESTONES AND TIME PLAN FOR FINANCIAL ACTIVITIES: 3 Section 4.0 4 RISK MANAGEMENT PLAN: 4 TABLE 1: Showing Risk Plan for Implementation Plan 5 TABLE 2: Showing Risk Assessment for Implementation Plan 5 Section 5.0 6 FINANCIAL OVERVIEW OF INVESTMENT: 6 COST-PLAN 6 TABLE 3: SHOWING DETAILED EXPENSE ACCOUNT 7 TABLE 4: SHOWING TOTAL PROJECTED YEARLY INCOME 8 TABLE 5: SHOWING PROJECTED COST-INCOME RATIO 8 TABLE 6: SHOWING TOTAL FORECASTED PROFITS 8 TABLE 7: SHOWING PROJECTED PROFIT-INCOME RATIO 9 TABLE 8: SHOWING PROJECTED BREAK-EVEN PERIOD FOR 9 Section 6.0 10 RESOURCE REQUIREMENTS BY THE FINANCE DEPARTMENT: 10 Section 7.0 11 KEY PERFORMANCE INDICATORS 11 Section 8.0 12 REFERENCES 12 Section 1.0 OVERVIEW OF INVESTMENT AND IMPACT ON FINANCIAL DEPARTMENT: The 3 star new build in Rio de Jainero, Brazil was chosen as the best investment idea by our syndicate group to pursue for Eagles Nest Inc. new business venture. Outfitted with 200 rooms, pool, restaurant and bar, conference room and fitness gym, the hotel will be specifically located along the highly populated Atlantica Ave, near the most popular Copacabana beach. The financial department...
Words: 2601 - Pages: 11
...Marketing Strategy of Apple Computers Inc. Introduction Marketing Strategy of Apple Computers INC. Introduction Apple was founded by Steven Jobs and Stephen Wozniak in 1976; Apple computer Company revolutionized the personal computer industry and brought forward the expansion of the clean industry within the New West. Situated within California, the company’s initial product was the Apple I, a single-board processor with on-board storage (ROM), that was marketed for approximately $650 not including a monitor or keyboard. Orders instantly soared, and Jobs and Wozniak quickly brought out the Apple II, including a keyboard, color monitor, and expansions for peripheral devices (Birzer & Schweikart 2003). In 1984, Apple introduced the Macintosh that was aimed toward the business and education markets, by which era the corporate had already not only modified the American market but had reshaped entire areas of the West around silicon. In 1996, after a series of CEOs did not keep Apple profitable, Steve Jobs came back to the company for an interim period as corporate executive and shortly launched a brand new promoting and licensing relationship with Microsoft. In 2000 his direct sales idea, the Apple Store brought the business back into the black (Birzer & Schweikart 2003). In 1994 Apple computers launched a brand new line of computers that supported the PowerPC processor chip. The creation of the new chip was a venture between Apple Computers, IBM, and Motorola, and since the...
Words: 3538 - Pages: 15
...The Data Are In: Best Home Care Marketing Practices Revealed Part 2 White Paper 06-001 WP06-001 Contents 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. Background Participant Agency Characteristics Outcomes Conversion Ratio Areas of Interest Written Marketing Plan Formal Marketing Budget Sales Team Training Specialty Programs Findings Interpretation Conclusion Side Bar: Action Plan for Sales and Marketing Success About the Authors Page 1 Pages 2-3 Pages 3-4 Pages 5-6 Page 6 Pages 6-7 Pages 7-9 Pages 9-10 Pages 11-12 Pages 12-14 Page 14 Pages 15-16 Page 16 Page 17 Page 17 WP06-001 The conclusion of a two-part series, this article provides the first look at the responses from a study evaluating the best marketing practices of home health agencies across the country. In Part 1, we profiled a few exemplary agencies with the goal of describing a set of common attributes that have lead to success. In Part 2 (below), we delve deeper into the component measures by exploring the first industry-specific benchmarks of marketing success! Background With each passing day, sophisticated sales and marketing becomes a more important trait among the industry’s leading providers. Ninety percent of survey respondents indicated that they have experienced increased competition over the last three years. Only 51 percent reported that they had increased referrals over the same period with 33 percent citing decreases. The million dollar question, then, is, “What practices are prevalent and...
Words: 4978 - Pages: 20
...International Journal of Marketing, Financial Services & Management Research Vol.1 Issue 11, November 2012, ISSN 2277 3622 Online available at www.indianresearchjournals.com A STUDY OF FINANCIAL PERFORMANCE: A COMPARATIVE ANALYSIS OF SBI AND ICICI BANK DR. ANURAG. B. SINGH*; MS. PRIYANKA TANDON** * Associate Professor LDC Institute of Technical Studies Soraon, Allahabad (Uttar Pradesh) India ** Assistant Professor LDC Institute of Technical Studies Soraon, Allahabad India _____________________________________________________________________________________ ABSTRACT Banking Sector plays an important role in economic development of a country. The banking system of India is featured by a large network of bank branches, serving many kinds of financial services of the people. The State Bank of India, popularly known as SBI is one of the leading bank of public sector in India. SBI has 14 Local Head Offices and 57 Zonal Offices located at important cities throughout the country. ICICI Bank is second largest and leading bank of private sector in India. The Bank has 2,533 branches and 6,800 ATMs in India. The purpose of the study is to examine the financial performance of SBI and ICICI Bank, public sector and private sector respectively. The research is descriptive and analytical in nature. The data used for the study was entirely secondary in nature. The present study is conducted to compare the financial performance of SBI and ICICI Bank on the basis of ratios such as credit...
Words: 5028 - Pages: 21
...Capital Budgeting http://www.financialmodelingguide.com/valuation-concepts/capital-budgeting-irr-npv/ Capital budgeting is one of the most important areas of financial management. There are several techniques commonly used to evaluate capital budgeting projects namely the payback period, accounting rate of return, present value and internal rate of return and profitability index. Recent studies highlight that financial managers worldwide favor methods such as the internal rate of return (IRR) or non-discounted payback period (PP) models over the net present value (NPV), which is the model academics consider superior. The term capital budgeting refers to long term planning for proposal capital outlay and their financing. It includes rising long-term funds and their utilization. It may be defined as firms, formal process of acquisition and investment of capital. Capital Budgeting may also be defined as the decision making process which the firm evaluates the purchase of major fixed assets. It involves firm’s decision to invest its current funds for addition, disposition, modification and replacement of fixed assets. In particular this assignment focused on Bauer Industries. Bauer Industries is an automobile manufacturer. Management is evaluating a proposal to build a plant that will manufacture lightweight trucks. An important responsibility of corporate financial managers is determining which projects or investments a firm should undertake. The assignment...
Words: 3333 - Pages: 14
...Multimedia Marketing & Consulting BusinessB3 Brett, Melanie, Nathan Legal Page Confidentiality Agreement The undersigned reader acknowledges that the information provided by BusinessB3 in this marketing plan is confidential; therefore, reader agrees not to disclose it without the express written permission of BusinessB3. It is acknowledged by reader that information to be furnished in this marketing plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious harm or damage to BusinessB3. Upon request, this document is to be immediately returned to BusinessB3. ___________________ Signature ___________________ Name (typed or printed) ___________________ Date This is a marketing plan. It does not imply an offering of securities. 1.0 Marketing Vision 1 1.1 Goals 1 1.2 Purpose 1 1.3 Picture 1 1.4 Gap Dashboard 2 Table: Gap Dashboard 2 2.0 Ideal Customer 2 2.1 Market Description 2 3.0 Remarkable Difference 2 3.1 Differentiators 3 4.0 Core Strategy 3 4.1 Core Branding Elements 3 5.0 Product/Service Innovation 4 5.1 Price Rationale 4 6.0 Marketing Materials 4 7.0 Web Plan 4 7.1 Social Media Plan 5 8.0 Lead Generation Plan 5 8.1 Advertising 5 8.2 Referrals 5 9.0 Lead Conversion Plan 6 10.0 Service Experience 6 10.1 Loyalty Product/Service Offerings 6 11.0 Marketing...
Words: 4262 - Pages: 18
...three weeks we ran a marketing simulation software called Markstrat for ten years period and achieved better understanding of marketing factors based on the analysis of the decisions we made and results we received. This report will firstly provide a brief description of general performance of our company in ten years time and then analysis the decisions made based on various theory frameworks. Finally, key learnings gained from the simulation will be suggested and further discussion will be generated. 2. General performance The first five graphs in the Appendix indicate our general performance clearly. Graph 1 shows the change of SPI of all four companies from Period 0 to Period 10. Comparing to other competitors, our company realised a high SPI with a peak of 6104 in Period 8, and then received a decrease in Period 9 and 10. Similar situation happened with our revenue and profit before tax. It could be seen from Graph 2 that revenue increased dramatically before Period 7 and declined significantly from Period 8 to the end. Graph 3 indicates that a relatively higher profit margin was achieved from Period 3 to 10 while an overall decrease occurred from Period 6. Different results were generated in Sonite and Vodite markets. According to Graph 4, our market share in Sonite market reached a peak of 53% in Period 5 and continuously decreased from Period 5 to Period 10. In Vodite market, 99% of market share was captured in Period 3 and only 27% left until Period 10. Despite the declining...
Words: 1828 - Pages: 8
...Classic Airlines Marketing Solution Classic Airlines is one of the largest airlines in the world. Their routes include more than 240 cities and more than 2,300 flights a day. In 2004, they had a net operating income of $10 million dollars (Classic Airlines Scenario, 2011). Despite this achievement, Classic Airlines has been experiencing many challenges in operations that are threatening their profitability. These challenges include increased competition, higher overhead costs, decreased employee morale, dwindling stock prices, shrinking consumer confidence, market uncertainty, and customer dissatisfaction. Classic Airlines could use the nine-step problem-solving model to find the true cause of these symptoms and rectify the problem. Profitability will increase once the true problem is solved effectively. According to the Critical Thinking textbook, “Problem solving is applying critical thinking to achieve the goals and personal harmony that are important in our personal and professional lives” (Kirby & Goodpaster, 1999, p. 251). There are many approaches to problem solving. We will use the nine-step model described in Problem Solving-Based Scenarios (Problem Solving-Based Scenarios, 2011). The first step is to describe the situation. Classic Airlines has experienced a 10% decline in share prices. Customer surveys show that they are becoming dissatisfied with the airline’s customer service and frequent flier program, Classic Rewards. Rewards membership has decreased...
Words: 2340 - Pages: 10
...Marketing Plan for Island Air: Ho`olaule`a- A Celebration Marketing Plane Time Frame: 2014-2015 Submitted by Jason Vellen from Vellux Marketing Consulting: To the Board of Directors of Island Air Submitted on: 6/7/2014 * Executive Summary Island Air is a niche player in the interisland market of Hawaii. It has a long history in the market, and its primary revenue source is achieved through selling tickets on its planes that offer transportation among five islands within Hawaii. It currently has a market share of 10% and an average load factor of 54.5% (percent of seats sold on each flight) Its main competitor is Hawaiian Air who has a market share of over 85% and a much higher load factor on their flights (1). Island Air does not have the resources to compete directly with Hawaiian Air for all travelers, rather through effective marketing which is outlined in this plan it will draw away travelers from Hawaiian Air thereby increasing its revenue by approximately 20 million dollars a year, or 30 million during the entirety of the marketing campaign. To achieve this increase in revenue both load factor and market share are going to be increased. The next year is an exciting time for Island Air and presents a great opportunity to implement a marketing plan that will achieve the above revenue growth. Island Air will be receiving brand new highly efficient Bombardier Q-400 planes that will replaced their tired and aging fleet of ATR-72 aircraft. Additionally 2015...
Words: 5372 - Pages: 22
...Executive Summary The primary purpose of this report is to state the marketing objectives and strategies for the extension of Café Coffee Day into the Northern Indian market. The northern sector has potential and growing demand for café retails; and through this report it would be clear as to how café coffee day should capitalize on their strengths and exploit the opportunities that lay. The general idea for the first year of extension is to build awareness and create the thrill and the excitement towards Café Coffee Day in North India; this is done with a long term view towards the venture as the first year would focus on building brand loyalty and image for the company to be able to reap the rewards from the second year onwards. The target market of the company is the age group of 15-29, consequently the medium and channels selected to market the products are those that appeal to them and is often within their reach. The other strategies, including the price, services, marketing message, and positioning is also created around the likings of this particular age group. The report would provide the details of the extension and other areas that require the attention via the action plan. And to further examine the details of the extension, the budgeting section would enlist the finances required to support the venture, and state the expected income sufficient for breaking even in the first year. From the report it is discovered that each outlet should target a minimum of 100 customers...
Words: 4111 - Pages: 17
...Coffee Day Executive Summary The primary purpose of this report is to state the marketing objectives and strategies for the extension of Café Coffee Day into the Northern Indian market. The northern sector has potential and growing demand for café retails; and through this report it would be clear as to how café coffee day should capitalize on their strengths and exploit the opportunities that lay. The general idea for the first year of extension is to build awareness and create the thrill and the excitement towards Café Coffee Day in North India; this is done with a long term view towards the venture as the first year would focus on building brand loyalty and image for the company to be able to reap the rewards from the second year onwards. The target market of the company is the age group of 15-29, consequently the medium and channels selected to market the products are those that appeal to them and is often within their reach. The other strategies, including the price, services, marketing message, and positioning is also created around the likings of this particular age group. The report would provide the details of the extension and other areas that require the attention via the action plan. And to further examine the details of the extension, the budgeting section would enlist the finances required to support the venture, and state the expected income sufficient for breaking even in the first year. From the report it is discovered that each outlet should target a minimum of...
Words: 4113 - Pages: 17
...The Sparkles Series Harley Davidson Organisation-led Integrated Marketing Angus Jenkinson Professor of Integrated Marketing Luton Business School angus.jenkinson@luton.ac.uk Branko Sain Research Fellow Luton Business School branko.sain@luton.ac.uk The Centre for Integrated Marketing has been funded by industry to research best practice and develop intellectual and other tools on behalf of leading marketers and their agencies. Anyone literate in Marketing is likely to respect the marketing achievement of Harley-Davidson in its marketing transformation from a no-hoper to one of the great brands of the Western world: an achievement that began not with agencies but with employees. $100 invested in Harley stock in 1986 was worth slightly more than $7,000 by the end of 1998 and the company continues to succeed. This was achieved by a revolution across the organisation centred everyone on re-invigorating the brand and its promise of value. Creating value is the name of the game The Harley Davidson transformation began with a company that was suffering. In the 10 years to 1983, Harley’s market share of the 850 CC plus motorcycle category had dropped from 80% to 23%. The company was haemorrhaging cash and profits. Staff were demoralised. The culture and environment was toxic. The first phase of the transformation involved rationalisation and tough command and control management. This was phase 1 management. It was not enough however to create success: for this positivity...
Words: 1917 - Pages: 8
...Assuming that Starbucks should increase their labor hours by adding more staff in all existing coffee shops, and by doing this expecting faster speed of service and hence higher returns is not the right assumption. a. Need for geographic breakdown of data: The data we have in the area of customer satisfaction is an aggregate data for the whole of the United States. Management probably would be wise looking at this data in a detailed breakdown per (at least) separate States and Counties. It might be that the customer satisfaction figures are fine in some business units and the investment for labor would not help sales in some shops at all. b. Change in assumptions: If the detailed breakdown were to suggest that adding more staff is an adequate decision in some cases, the calculations for the cost of this should also change. Adding more people to current stores with the same number of tills and the same number of coffee machines will not solve the issue of customer wait-in-line statistics. When tills and coffee machines are occupied, what will the...
Words: 1589 - Pages: 7
