...Marketing in the Changing World of Business Charlene Eubanks-Close BUS620: Managerial Marketing Jacqueline Gilliard December 12, 2011 Ashford University In today’s economy, gaining customer is the most important part of all business. Marketing is the most effective tool used by business to succeed at gaining new customer and retaining their current customer. Marketing is the soul of any business. Understanding marketing began with defining what marketing is and how important it to the world of advertising. The definition of marketing has an endless number of possible definitions. Psychology, statistics, art, logical and creative thinking are all involved in defining marketing. Marketing can best be described as an exchange between vendor and consumer. Marketing has been used to sell almost every product known to man. There is an endless list of items in which marketing has helped progress but sometimes that are things which are more difficult to advertise. In this paper I will define marketing and explain how company market products that may not be an “easy sell.” I will also discuss the impacts on business or organizations that no one wants to be a customer to. How can companies effectively approach this relationship? First let’s define marketing. Marketing can be viewed as many different things because it can be seen from many different points of view. Sometimes depending on where you are standing, your definition of marketing might change...
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...5/3/2014 Topic Outline MARKETING ENVIRONMENT Principles of Marketing Lecture 2 Scanning the marketing environment Components of the marketing environment. Impact of the macro-environment. Impact of the micro-environment. Marketing Environment • Scanning the Marketing Environment Companies scan the marketing environment in order to change and adapt their marketing strategies – as it provides opportunities and threats. In doing this companies must be proactive, It is pointless to conduct environmental scanning unless marketing strategies are changed to fit with the environment. A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. 1 5/3/2014 Components of the Marketing Environment Macro-environment Micro-environment Macroenvironment: Demographic Changing age structure of the population Changing family structure The larger societal forces The forces close to the that affect the whole company that affect its ability to serve its customers: microenvironment: Political Company Economic Competitors Demographic Suppliers Cultural Marketing Intermediaries Technological Customers Natural Publics Increasing diversity Better-educated, more white-collar, more professional population Geographic shifts in population Macroenvironment: Demographic Demography: The study of human population in terms of...
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...Executive Summary……………………………………………………....3 2. Situation Analysis .....................................................................................4 3. Analysis of case issues using marketing theory 3.1. The trends in the marketing environment …………………….. 5 3.2. Creating value for customers.......................................................6 3.3. Fitting in with the changing marketing environment...................7 4. Conclusion...........………………………………………………………....8 5. References………………………………………………………………...9 1. Executive Summary In the era of globalization and highly competitive business world, it is the goals and desire of every company to take a good portion of market share for their products in the market place. People in different geographic locations are more connected ever than before with advancement of internet and air travels. Online blogs, YouTube and social networking web sites have changed new socio culture across demographics especially in younger generations. Consequently, consumers are also becoming well informed about the brand and products, value conscious and their purchase decision are made beyond the quality of product and its face value alone. The aim of this study is to analyse the key concepts of Toms Shoes Company marketing strategies and important factors that influence the success of this relatively new shoes company under current market environment. Toms is a shoes company that gives a new pair of shoes to a...
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...the elements of a company’s marketing environment and why marketers play a critical role in tracking environmental trends and spotting opportunities. a. A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. Like Xerox, companies constantly watch and adapt to the changing environment. b. More than any other group in the company, marketers must be environmental trend trackers and opportunity seekers. Although every manager in an organization should watch the outside environment, marketers have two special aptitudes. They have disciplined methods-marketing research and marketing intelligence-for collecting information about the marketing environment. They also spend more time in customer and competitor environments. By carefully studying the environment, marketers can adapt their strategies to meet new marketplace challenges and opportunities. 2. List some of the demographic trends of interest to marketers in the United States and discuss whether these trends pose opportunities or threats for marketers. a. Changing Age Structure of the Population Changing American Family Geographic Shifts in Population A better-educated, more white-collar, more professional population Increasing diversity b. The first trend( The changing age structure of the population)...
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...Coca – Cola’s history in brief: Coca-Cola is a carbonated soft drink sold in stores, restaurants, and vending machines in more than 200 countries. It is produced by The Coca-Cola Company of Atlanta, Georgia. Coca-Cola Enterprises, established in 1986, is a young company by the standards of the Coca-Cola system. Yet each of its franchises has a strong heritage in the traditions of Coca-Cola that is the foundation for this company. The Coca-Cola company traces it’s beginning to 1886, when an Atlanta pharmacist, Dr. John Pemberton, began to produce Coca-Cola syrup for sale in fountain drinks. However the bottling business began in 1899 when two Chattanooga businessmen, Benjamin F. Thomas and Joseph B. White head, secured the exclusive rights to bottle and sell Coca-Cola for most of the United States from The Coca-Cola Company. The Coca-Cola bottling system continued to operate as independent, local businesses until the early 1980s when bottling franchises began to consolidate. In 1986, The Coca-Cola Company merged some of its company-owned operations with two large ownership groups that were for sale, the John T.Lupton franchises and BCI Holding Corporation's bottling holdings, to form Coca-Cola Enterprises Inc. The Company offered its stock to the public on November 21, 1986, at a split-adjusted price of $5.50 a share. On an annual basis, total unit case sales were 880,000 in 1986. In December 1991, a merger between Coca-Cola Enterprises and the Johnston...
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...chapter 1 Marketing in a Changing World: Creating Customer Value and Satisfaction ROAD MAP: Previewing the Concepts Fasten your seat belt! You’re about to begin an exciting journey toward learning about marketing. To start you off in the right direction, we’ll first define marketing and its key concepts. Then, you’ll visit the various philosophies that guide marketing management and the challenges marketing faces as we move into the new millennium. The goal of marketing is to create profitable customer relationships by delivering superior value to customers. Understanding these basic concepts, and forming your own ideas about what they really mean to you, will give you a solid foundation for all that follows. After studying this chapter, you should be able to 1. define what marketing is and discuss its core concepts 2. explain the relationships between customer value, satisfaction, and quality 3. define marketing management and understand how marketers manage demand and build profitable customer relationships 4. compare the five marketing management philosophies 5. analyze the major challenges facing marketers heading into the next century Our first stop: Nike. This superb marketer has built one of the world’s most dominant brands. The Nike example shows the importance of — and the difficulties in — building lasting, value-laden customer relationships. Even highly successful Nike can’t rest on past successes. Facing “big-brand backlash,” it must now learn how to be both big...
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...Executive Summary In the era of globalization and highly competitive business world, it is the goals and desire of every company to take a good portion of market share for their products in the market place. People in different geographic locations are more connected ever than before with advancement of internet and air travels. Online blogs, YouTube and social networking web sites have changed new socio culture across demographics especially in younger generations. Consequently, consumers are also becoming well informed about the brand and products, value conscious and their purchase decision are made beyond the quality of product and its face value alone. The aim of this study is to analyze the key concepts of Toms Shoes Company marketing strategies and important factors that influence the success of this relatively new shoes company under current market environment. Toms is a shoes company that gives a new pair of shoes to a child in need for every pair of shoes a customer purchases. The company was founded in 2006 by an American entrepreneur who inspired to start a shoes company after his visit to Argentina where he saw shoes giving movement by non-profit organizations. Tom’s shoes have captured the hearts and mind of many customers because its strategies and well executed actions and the company is gradually growing in relatively short period of time. Introduction to the company and industry In 2006, American traveler Blake Mycoskie assisted children in Argentina...
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...Executive summary This report is mainly to analyze the pampers relationship marketing strategy, pampers is s is a brand of baby product which is introduced and marketed by Procter & Gamble, and also pampers is the largest and fastest growing brands among P&G company. overall, pampers will established their reputation, and also retain the loyalty of its costumers by building communication channel with its costumer through internet, ITV and direct mail. The structure of this paper will begin with the introduction of P&G organization and costumer’s issue will be defined. Followed by the question about how pampers address their costumers, moreover, I will analyze and evaluate the consumer and the way they act upon it in communication. Followed by the role of direct mail in relation to the other channels in the communicating with mother and how the role of direct mail has changed with the rise of internet and ITV, and there will also be the comparison of the roles of the Internet and iTV in Pamper's communication strategy. Then is the reason Why relationship marketing effective in the market for nappies and other baby products. Lastly, the conclusion and recommendation will also be stated. Table of content NO | Contain | Page | 1 | 1.0 Background of P&G1.1 Consumers issue | 33 | 2 | 2.0 How they address their costumers | 4 | 3 | 3.0 The role of direct mail communicating with mothers.3.1 The role of direct mail is decreased by the rise of internet...
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... 1. Executive Summary……………………………………………………....3 2. Situation Analysis .....................................................................................4 3. Analysis of case issues using marketing theory 3.1. The trends in the marketing environment …………………….. 5 3.2. Creating value for customers.......................................................6 3.3. Fitting in with the changing marketing environment...................7 4. Conclusion...........………………………………………………………....8 5. References………………………………………………………………...9 1. Executive Summary In the era of globalization and highly competitive business world, it is the goals and desire of every company to take a good portion of market share for their products in the market place. People in different geographic locations are more connected ever than before with advancement of internet and air travels. Online blogs, YouTube and social networking web sites have changed new socio culture across demographics especially in younger generations. Consequently, consumers are also becoming well informed about the brand and products, value conscious and their purchase decision are made beyond the quality of product and its face value alone. The aim of this study is to analyse the key concepts of Toms Shoes Company marketing strategies and important factors that influence the success of this relatively new shoes company under current market environment. Toms is a shoes company that gives a new pair of shoes to a child in...
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...chapter 1 Marketing in a Changing World: Creating Customer Value and Satisfaction ROAD MAP: Previewing the Concepts Fasten your seat belt! You’re about to begin an exciting journey toward learning about marketing. To start you off in the right direction, we’ll first define marketing and its key concepts. Then, you’ll visit the various philosophies that guide marketing management and the challenges marketing faces as we move into the new millennium. The goal of marketing is to create profitable customer relationships by delivering superior value to customers. Understanding these basic concepts, and forming your own ideas about what they really mean to you, will give you a solid foundation for all that follows. ᭤ After studying this chapter, you should be able to 1. define what marketing is and discuss its core concepts 2. explain the relationships between customer value, satisfaction, and quality 3. define marketing management and understand how marketers manage demand and build profitable customer relationships 4. compare the five marketing management philosophies 5. analyze the major challenges facing marketers heading into the next century Our first stop: Nike. This superb marketer has built one of the world’s most dominant brands. The Nike example shows the importance of — and the difficulties in — building lasting, value-laden customer relationships. Even highly successful Nike can’t rest on past successes. Facing “big-brand backlash,” it must now learn...
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...4.705 Marketing Management Assignment Marketing Strategy For Research In Motion Table of Contents 1. Executive summary 3 2. Value Based Marketing Strategy 4 3. Marketing mix strategy 4 a) Product 5 b) Place 6 c) Price 6 d) Promotion 6 4. Driving forces of change in the mobile industry 7 5. Changes in Competitive Landscape 8 6. Understanding customer behavior 9 7. SWOT analysis 10 8. Recommended Marketing mix strategies for RIM 13 9. Target Market for Blackberry 14 10. References 15 Executive Summary Research In Motion (RIM) is one of the world’s leading manufacturer of wireless devices and also known for their smartphone and tablet range, Blackberry. It was found in 1984 by Mike Lazaidis in Canada. Initially RIM was in to wireless equipments until 1999 when they started creating Blackberry series. Blackberry is now widely used as a smartphone which is used mainly by corporate and business people. But it also attracts a broad range of users from teenagers to other professionals. It is widely available in many countries with offices operating around the world. Recent falling of stock has forced RIM to construct an all new market strategy in order to be in a highly competitive market. It has been analyzed that it is high time RIM should constitute a better marketing plan, which will focus mainly on Value based...
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...boundaries of social marketing: activism or advertising? By Walter Wymer Journal of Business Research - J BUS RES , vol. 63, no. 2, pp. 99-103, 2010 Article Review: Walter Wymer is currently a faculty member in the Management department of University of Lethbridge, Canada. He has done extensive research in areas of nonprofit organizations’ marketing strategies and their effectiveness. His areas of expertise are nonprofit studies, volunteerism, business ethics and social activism. In the above mentioned article, Wymer aims to highlight the ineffectiveness of tactics of social marketers in trying to promote healthy food consumption by the public. The main focus of the article is to imply that conservative approach of social marketing in no longer helpful in yielding positive response from the people and a more rigorous approach is needed to negate the unhealthy consumer behavior. Marketing strategies around the world are enhancing, more and more is being invested in trying to influence peoples’ decisions and behaviors through marketing and advertisements. Social marketing agencies are highly lacking the right skills needed to direct the behavior of consumers whereas commercial marketing industries are vigilantly taking advantage of the wide array of mediums like television, radio, internet, social media websites, blogs, vlogs, etc to promote their products. Wymer emphasizes about the extent of influence on people created by commercial marketing. The current trend...
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...identify the benefits and the risks of implementing these technologies. In order to succeed and grow in today’s ever-changing business environment it is critical to keep up with changes in new technologies. To be competitive and continue advancing in marketing we must ensure that our staff has the competitive advantage by being able to utilize the latest technologies and data management tools that are available. Our goal as a company is to be able to meet the ever-changing demands of the customer by equipping our staff with the latest marketing data, communication data, and reporting data. Having these abilities would allow for us to research any topic effectively and efficiently. We must also have a platform that allows our internal staff to share sales and marketing information across all of the departments, both in office and out in the field. Customer interaction must be optimized through emails, video conferencing and phone calls. In order to accomplish our goals here at Party Plates we have put together the utilization of two wireless options that we think will help increase business in an effective and streamlined way. For the wireless technologies implementation we have choose to implement the Samsung Galaxy 3 tablet and Galaxy 4 smart phone. The reason we chose these two wireless devices is because it is a necessity to stay connected in todays business world. Two ways in which we can...
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...money that is challenging. In an ever changing world full of competition and alternatives, substitutions, and imitators; no company is guaranteed an everlasting pot of gold. The world is full of competition and companies must keep up with the Joneses if they want to keep a profitable bottom line. To be profitable and successful the four functions of management need to have continuous improvement. The four functions of management are planning, organizing, leading and controlling. By analyzing how all four functions of management in the Coca-Cola Company one will be able to explain how each is affected by the following external and internal factors globalization, technology, innovation, diversity, and ethics. Coca-Cola is a very well known label all over the world. Even so, however, the company seems to always be marketing their name somewhere new. This means that the planning function of this company is globalized and very innovative. It can be purchased all over the world. The planning is also effected by diversity. It is evident in the different beverage products they produce, in example juices, vitamin water, sports drinks, and plenty of other drinks other than just soft drinks. They use innovative methods in their marketing, for example their online music service in the UK. And, even though it shut down, their experimentation shows innovation. The planning function shows ethical values in its marketing. Coca-Cola’s marketing is always aiming at social awareness...
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...Diversification Strategies BUS 508 Contemporary Business Professor Lewis Janisa Carter February 1, 2012 Introduction In today’s highly competitive and challenging business environment many variables are to be considered when it comes to the success or failure of a business. Business firms must consider the worlds fast changing societal needs and appropriately employ the diverse strategies needed to flourish. This paper will compare and contrast two businesses, one successful and the other unsuccessful. By doing so, I will take a closer look at diversification strategies and evaluate the reasons that determine a business’s outcome. I will also discuss the importance of business plans, marketing plans, and strategic plans as they are key elements to the success of a business. And finally, I will offer the failed business new diverse strategies that would help with future success. Compare and Contrast Two Businesses and their outcomes Amazon.com Amazon.com was founded by Jeff Bezos in 1994, and launched in 1995. Amazon.com is an American multinational electronic commerce company. It was one of the first American Ecommerce companies to sell over the internet. Ecommerce has multiple advantages over “brick and mortar” and order catalogues. With Ecommerce customers can...
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