...Running head: Marketing Strategy for Products Discuss the type of product the company will offer and identify its primary characteristics. The type of product the company will offer is a game system called the Genius 3D. Some of the primary characteristics of this gaming system are portability, 3D graphics and twelve month warranty. The Genius 3D game system has the ability to be played anywhere at any time. Genius 3D is the size of the Blackberry Playbook tablet, which is seven inches. It has a screen, keyboard, and up to four USB controllers that are the size of an iPod. The controllers can be wireless, and then there are some with cords, so it just depends on the user’s choice. The controllers of the Genius 3D is fully touch screen, so there is no major risk of buttons popping of the controller. Instead of constantly rolling up the controller when the user is done playing, the controller has a button that retracts the cord itself, so there is a less chance of shortage within the cord. Genius 3D comes with a carrying case that can hold the game system itself along with the controllers. Genius 3D has 3D glasses that does not require the user to have 3D glasses. The 3D graphics has high definition. The graphics makes the game seem as if it can reach out and touch you. First-person shooter games are great to play on the Genius 3D because it brings the graphics out even more to the user, and it makes them feel like they are actually in the game. Genius 3D has the...
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...Marketing Strategy MKT306 Assignment July 2010 University of Sunderland, UK Joey Kwan Lay Kuan Student ID: 089111572 Table of Content Assignment Questions 1 Abbreviations Report 1.0 Executive Summary 2 3 4 2.0 Terms of Reference 3.0 Corporate Objective 4.0 Situational Analysis 4.1 Industry Analysis 4.2 SWOT Analysis 4.3 Competitive Advantage and Core Competencies 5.0 Recommendations 5.1 Segmentation Targeting and Positioning 5.2 Marketing Objectives and Goals 5.3 Marketing Strategies and Programmes 5.3.1 Product 5.3.2 Pricing 5.3.3 Place 5.3.4 Promotion 6.0 Conclusion Reference Appendix 5 7 8 9 11 12 14 15 19 20 21 22 23 25 33 34 41 MKT306 Marketing Strategy Assignment Questions This is an individual assignment as a single report in two parts. 1. Investigation and analysis Choose an individual brand or product line from either the producer and/or brand owner, who are involved in the marketing of an oral hygiene product or products. Investigate and evaluate their marketing strategy using contemporary marketing tools and techniques however this may be illuminated using examples from other companies /organisations. You can demonstrate the effectiveness of the reported policies for the chosen company by giving performance data against competitors in the market (e.g. market share, sales, profitability, etc.). 2. Recommendations Your remit is to put forward your own suggestions covering changes in marketing strategy that will improve the future performance...
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...JC PENNEY STRATEGIC MARKETING PLAN 2012: PRODUCT STRATEGY A Paper Submitted to the Graduate Faculty of the North Dakota State University of Agriculture and Applied Science By Alisha Liane Ostlund In Partial Fulfillment for the Degree of MASTER OF SCIENCE Major Department: Apparel, Design, and Hospitality Management April 2012 Fargo, North Dakota North Dakota State University Graduate School Title JC Penney Strategic Marketing Plan 2012: Product Strategy By Alisha Liane Ostlund The Supervisory Committee certifies that this disquisition complies with North Dakota State University’s regulations and meets the accepted standards for the degree of MASTER OF SCIENCE SUPERVISORY COMMITTEE: Linda Manikowske Chair Holly Bastow-Shoop Jaeha Lee Gerry Macintosh Approved: 04-24-2012 Date Holly Bastow-Shoop Department Chair ABSTRACT The JCPenney Company has undergone a transition from a value retailer to a streamlined, customer-driven retailer in order to set itself apart from its biggest competitors, Macy’s and Kohl’s. Previously, JCP was focused on general, storewide promotions. Currently, JCP has retooled their image to reflect a standard set of prices and special savings. In this exploratory look at JCP’s merchandising strategy, both previous and new methods are examined and additional steps to improve the returns on merchandising investments are offered. During this study, a detailed examination of JCP’s internal and external environments has been conducted, and an analysis...
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...Discuss how the marketing mix strategies are likely to change over burritos’ product lifecycle. Marketing mix strategies are likely to change over burritos’ life cycle as they influence the product’s succession. With reference to Cantinas frozen burritos’, marketing mix strategies help evolve the product’s lifecycle towards the target market. The four marketing mix strategies include product, place, prime and promotion used in each stage of the product lifecycle (Armstrong et al. 2010). A new product progresses through stages from the introduction, growth, maturity, and decline in a sequence known as the product life cycle that is likely to change over the burritos’ time (QuickMBA 2009). As the burritos’ product hits the market as a new product development, it enters the introduction stage of the product lifecycle. Marketing mix strategies at this stage is extensively attracted to the promotion, as the frozen burritos’ is a new and unique product in the Australian marketplace. Profits are heavily spent on the promotion, which means high competitive prices of the product are through advertisement. Promotion at this stage targeted towards a small market segment, which is catered towards 15 – 30 year olds looking for alternative foods. (Armstrong et al. 2010). Extensive marketing testing was placed to build product awareness and to educate potential consumers about the product being introduced. This ultimately ensured its place in the lifecycle process with its slow growth...
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...D1: Evaluate the effectiveness of the use of techniques in marketing products in one organisation. Growth Strategies Marketing Technique | Summary of how Cadburys have used this strategy | Has it been effective? | Evaluation of its effectiveness for Cadburys. | Market Penetration | Cadburys use adverts, promotions, completions, etc. to boost their sales in their current markets | yes | This has been effective for Cadburys because their sales from the end of 2013 their famous Dairy Milk bar topped the UK’s top chocolate sales. After the Olympics they saw their value sales grow by 5.1% because of their Olympic promotions and competitions but, at the end of 2012 they saw they’re sales drop, this was due to women buying less chocolate. But at the beginning of 2012 they had sales of £257m after they were bought by Kraft. In 2007 Cadbury’s spent £6m on their Gorilla advert, it was a real hit with 58000 viewers at home taking the time to watch the full-length video as well as the parody of the advert which then saw the sale grow from 2% the previous year to 7% which was outside their target percentage which was 4-6%.the advert was also voted favourite advert of the year (taken fromhttp://news.sky.com/story/581641/gorilla-helps-drum-up-cadbury-sales). They then came up with the dancing eyebrows advert which was viewed on YouTube and similar site more than four million times along with a trucks advert. With these adverts, all the adverts gave a master brand payback 171% greater...
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...MARKETING MANAGEMENT ASSIGNMENT Product a breakdown of the principles and processes involved in formulating a marketing strategy including those of market research. MBA ID: Word Count: 1901 A marketing strategy is composed of several interrelated elements. According the definition of marketing strategy by Study Market (2011), it outlines the manner in which the marketing mix is used to attract and satisfy the target market(s) and accomplish organization's objectives. This is quite an encompassing definition of marketing strategy as it touches all the elements. It shows that marketing strategy gives a direction on how the marketing mix (product, price, promotion & place) are utilized in such a way to satisfy consumer target markets to achieve organizational goals and objectives. The marketing mix, segmentation, branding, promotion and market research all serve as parts of the interrelated elements that make up a good marketing strategy. Marketing mix has its origins in the 6O's: Jerome McCarthy (1964) deduced the four-element framework: Product, Price, Promotion and Place. The marketing mix elements redefined by McCarthy became the most widely used and accepted element of marketing theory. Many writers have expressed serious doubts on the role of marketing mix as a management tool in its original form and proposing alternatives approaches. Some of the weaknesses of the 4Ps are domain-specific: which ignored the human factor, lack of strategic dimensions, offensive...
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...MKT 475 WK 4 ASSIGNMENT 1 MARKETING STRATEGY To purchase this visit here: http://www.activitymode.com/product/mkt-475-wk-4-assignment-1-marketing-strategy/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 475 WK 4 ASSIGNMENT 1 MARKETING STRATEGY MKT 475 WK 4 Assignment 1 - Marketing Strategy Implementation Part I You are the Chief Marketing Officer for a U.S.-based department store chain handling lower and higherrange- priced product categories with the primary focus on the lower-end. The department store chain has stores on the east coast, northern area, and the south with the locations in metropolitan cities. You have been tasked with shifting the marketing strategy from a focus on the lower-end products to the higher-end ones. Two key competitors will be Macy's and Nordstrom. Write a six to eight (6-8) page paper in which you: 1. Determine the marketing driven strategy that the company will take. Provide a rationale for your strategy. 2. Distinguish the product-market boundaries. Provide a rationale for your strategy. 3. Construct a marketing segmentation strategy. Provide a rationale for your strategy. 4. Develop a customer relationship management strategy. Provide a rationale for your strategy. More Details hidden... Activity Mode aims to provide quality study notes and tutorials to the students of MKT 475 WK 4 Assignment 1 Marketing Strategy in order to ace their studies. MKT 475 WK 4 ASSIGNMENT 1 MARKETING STRATEGY To purchase this visit here: ...
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...Marketing Strategy Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because firms that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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...What is Marketing Strategy? Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives. Effective marketing starts with a considered, well-informed marketing strategy. A good marketing strategy helps organization define vision, mission and business goals, and outlines the steps need to take to achieve these goals. Marketing strategy affects the way organization run entire business, so it should be planned and developed in consultation with team. It is a wide-reaching and comprehensive strategic planning tool that: * Describes business and its products and services * Explains the position and role of products and services in the market * Profiles customers and your competition * Identifies the marketing tactics will use * Allows building a marketing plan and measuring its effectiveness. A marketing strategy sets the overall direction and goals for organization marketing, and is therefore different from a marketing plan, which outlines the specific actions you will take...
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...Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because small businesses that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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...Evaluation of Unilever’s marketing activities from two perspectives: marketing strategy and marketing philosophy Table of Contents 1. Introduction 3 2. Background to Unilever 3 3. Evaluation of Unilever’s marketing activities on marketing strategy 3 3.1 Product proliferation strategy 3 3.2 Global marketing strategy 4 3.3 Cause-related marketing 5 3.4 Digital marketing strategy 6 3. Evaluation of Unilever’s marketing activities on marketing philosophy 7 3.1 That marketing creates value 7 3.2 Product-oriented marketing, or the marketing myopia 7 3.3 Old school marketing 9 4. Conclusion 9 5. References 11 1. Introduction Marketing is a central function of business operations and an important value-adding link in businesses’ value chains. Successful marketers should constantly scrutinize their marketing activities from a variety of angles to make sure they are on the right track. The purpose of this report is to critically evaluate Unilever’s marketing activities based on the two perspectives of marketing strategy and marketing philosophy. More specifically, it will firstly evaluate four of Unilever’s marketing strategies: product proliferation, global marketing, cause-related marketing and digital marketing. Then, it will go on to evaluate Unilever’s marketing philosophy from a variety of angles. Finally, the report will end in a summary of key points. 2. Background to Unilever Founded more than 80 years ago, Unilever...
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...MKT 475 WK 8 ASSIGNMENT 2 MARKETING STRATEGY To purchase this visit here: http://www.activitymode.com/product/mkt-475-wk-8-assignment-2-marketing-strategy/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 475 WK 8 ASSIGNMENT 2 MARKETING STRATEGY MKT 475 WK 8 Assignment 2 - Marketing Strategy Implementation Part 2 This assignment is a continuation of Assignment 1. Write a six to seven (6-7) page paper in which you: 1. Determine any strategic partnerships the department store chain could develop that would help promote the higher-ranged-priced products and support the expansion in the west coast. 2. Construct a strategy for managing the higher-ranged product brands. Provide a rationale for your strategy. 3. Develop a pricing strategy for the higher-ranged products. Provide a rationale for your strategy. 4. Generate at least two (2) ideas for sales promotion, advertising, and sale promotion strategies. More Details hidden... Activity Mode aims to provide quality study notes and tutorials to the students of MKT 475 WK 8 Assignment 2 Marketing Strategy in order to ace their studies. MKT 475 WK 8 ASSIGNMENT 2 MARKETING STRATEGY To purchase this visit here: http://www.activitymode.com/product/mkt-475-wk-8-assignment-2-marketing-strategy/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 475 WK 8 ASSIGNMENT 2 MARKETING STRATEGY MKT 475 WK 8 Assignment 2 - Marketing Strategy Implementation Part 2 This assignment is a continuation of Assignment 1. Write a six...
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...2.2 MARKETING STRATEGIES Marketing has assisted in building organizational profitability through defining and maintaining customer satisfaction. Its concept has aided firms to achieve success in competitive markets throughout the world. To be successful in marketing in which economic growth has leveled and there exists many competitors and new innovations a well-developed marketing strategy is required. This strategy considers an organization’s mission and vision, parameters of products and anticipated actions of competitors in the targeted markets (McGrath, 2000). Ferrell et al, 2008 postulates that one of the greatest challenges and opportunities in marketing is change and strategies which are successful today will not work tomorrow. As such Steven Stalser, 2004 suggests that a strategy is not just a singular unchanged plan but rather a continual process of assessment, re-assessment and analysis which constantly provides direction to a firm. “Strategy is the direction and scope of an organization over a long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations” (Johnson and Scholes, 2005). A marketing strategy can be defined as “A strategy that integrates an organization's marketing goals into a cohesive whole. Ideally drawn from market research, it focuses on the ideal product mix to achieve maximum profit potential. The marketing strategy is set out in a...
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...1 Strategic Marketing, the words itself describes that it has a lot to do with technical and specific information. “Strategic marketing means looking at the whole of a company’s portfolio of products and markets, and managing the portfolio to achieve the company’s overall goals”. (Jain, 1987). “ Strategic marketing as seen as a process consisting of:analyzing environmental, market competitive and business factors affecting the corporation and its business units,identifying market opportunities and threats and forecasting future trends in business areas of interest for the enterprise ,and participating in setting objectives and formulating corporate and business unit strategies. Selecting market target strategies for the productmarkets in each business unit, establishing marketing objectives as well as developing, implementing and managing the marketing program positioning strategies in order to meet market target needs”. (Drucker, 1973) Its role is to direct the firm or company towards attractive economic opportunities. The opportunities that are adapted to resources and knowledge and offer a potential for growth and profitability. Strategic marketing includes the way to reach the customers with products and services. It provides competitive advantage by considering segmentation, branding, marketing messages, and positioning. With segmentation, firm can concentrate specifically to particular market as per their buying behavior or lifestyle. As a result, it saves time and money...
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