...process in which enhance the interaction among people, companies and government of different nationalities through integrating their economic, financial, trade and communicational capabilities. As a result, those distinct world economies are converged in to one huge integrated and interdependent world economy With the emergence of globalization and as a result of diminishing trade and investment barriers, the domestic businesses got opportunities to spread their business throughout the world by entering to much larger international markets, in the form of international, multinational, transnational and as global corporations. And that’s where the concern of international marketing emerged. The efficiency and effectiveness in the international marketing strategies could enhanced through advanced communication such as social media and promotion by emails and transportation technologies where marketers can use logistic services such as DHL and FedEx, by mobility of finance in transactions could support using PayPal American express, visa and etc. When consider about the globalizations’ impact towards international marketing its essential to give priority to some concepts. Globalization of production, standardisation vs. adaptation, financial risks, Globalization of production In the phase of creating the customer value, where the international marketers need to concern on producing goods and services, globalization of production helps the production with by procuring high quality...
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...(Question 1) The rules of marketing have change as we are now witnessing a shift from a push strategy to reach prospective customers to a pull world of commercial messaging. Traditionally, marketers in a B2C market used communication channels such as mass media with advertising campaigns to attract awareness and buying intentions from potential customers. In a B2B market, sales representatives were obligated to devote themselves in tasks such as telemarketing and direct marketing in order to identify leads. However, with the arrival of many useful web 2.0 tools, the declining popularity of traditional media, the easy access to information, and hence the change of habits in the consumers’ buying process, conventional marketing in both B2C and B2B markets aren’t sufficient anymore. Outbound marketing is out of date; inbound marketing is the new solution to the market trend. In the current environment, outbound marketing’s effectiveness is diminishing while inbound marketing strategies with search engines, blogs and social media are generating new business at higher rates. The phenomenon is logical because the outbound marketing tend to awaken a need, while the inbound marketing serves as a way to answer that need. In other terms, inbound marketing is centric into the prospective consumer’s buying process thus increasing the likelihood of purchasing. Also inbound marketing is very cost-effective. (Question 2). HubSpot has taken advantage of this market trend to impose its corporate...
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...Michael Wilson| MBA6004 | February 13, 2014 Michael Wilson| MBA6004 | February 13, 2014 Unit 6 Assignment 1 Strategy recommendation Unit 6 Assignment 1 Strategy recommendation Identifying a Business 2 CURRENT USE OF THE WEB _________________________________________________________2 IMPLICATIONS OF THE WEB_________________________________________________________2 ETHICS OF USING THE WEB _________________________________________________________4 CONCLUSION_______________________________________________________________________5 Identifying a Business For my pre-writing strategy recommendation business will be Wal-Mart. As a retail giant, many people use Wal-Mart for many different reasons, such reasons are: grocery shopping, appliance shopping, electronics and other goods offered at the store. With so many ways to peak consumers interest Wal-Mart has to be diversified on how it reaches it consumers. Today Wal-Mart has television commercials, ads in newspapers and on the radio, plus a website for ways they entice consumers to shop at their stores. I chose Wal-Mart because of its vast potential in its use for the internet. Current Use of the Web Wal-Mart’s easy to use website also allows customers to pay their Wal-Mart cards on-line as well as purchase items from its on-line store. Currently Wal-Mart uses the web for inventory, re-ordering items that running low in supply. According to Karpinski (2002), “Wal-Mart mandated that all its suppliers begin to move all...
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...demanding ethics, responsibility, impeccable reputation and brand value. On the other hand the global economy in going through rough times, putting a lot of financial pressures on companies and shifting business focus on accountability and control. Improving marketing communications management becomes an imperative in this context. The efficiency of the marketing management process is determined by a systematic approach to planning and evaluating outcomes. Measuring the results of integrated communication campaigns, especially initiatives aimed at determining behavioral changes, raises a unique challenge to marketers. Increasing downward cost pressures have determined marketers to move their budgets away from the expensive mass media advertising and to explore new, more targeted and innovative territories. At the same time, the explosive development of media over the last few decades opened up a whole new perspective and countless possibilities for organizations to reach and connect to their audience. This fragmentation of the media landscape has been accompanied by a significant trend of market demystification. Not in the least, the technological advancements of the last decade have completely revolutionized the field of marketing, writing new...
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...the soaring customer demand. Thus, identifying the company’s capability and production bottleneck are most important and must be considering at first. Secondly, design new processes to optimize the firm’s capability and maximize the production level thereby to shorten the lead time in order to lower inventory warehouse and handling cost. The third, project production plans in monthly, weekly and daily basis. The next, since the company’s resources are limited, therefore, Chad must make decisions on managing and scheduling the limited materials, equipment, other facilities and human resources. Allocate resources effectively to optimize the production process. Finally, to be best serve and satisfy customers, avoid defected products from the mass production process, the performance and quality control must be tracking. In addition, Chad might to think about to hire more staffs and rent a cheaper warehouse to handle the current problems. Over the long run, Chad must make visionary corporation strategy and the following production strategy. Maintaining the company’s existing capabilities and develop new capabilities to best serve customers. Expand the business by hiring another production team to concentrate to the standard line of furniture. Expand the company’s facilities and managing...
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...VISION It is a short , crisp phrase which targets to create a vista into the future aspiration of a company or conglomerate. As the name suggests , it should be such that one may get the idea of the direction in which the company is striving towards in an inspirational and energizing way. It is usually a one liner dedicated to encompass the futuristic plan of the company. A mission statement clarifies an organizations’ purpose and typically, needs to be about one paragraph in length. It should be unambiguous and to the point, integrating meaningful statements, such as: moral stance, how you want to be perceived, primary focus, your customers, who you care about, your presence and how you will grow. For example, vision and mission statement of ICICI Bank is: Vision Khyaal Aapka Mission Create unmatched value for everyone through dependable, effective, transparent and profitable life insurance and banking facilities.Reliance ICICI Bank would strive hard to achieve the 3 goals mentioned below: • Emerge as transnational banking sector giant. • Create best value for Customers, Shareholders and all Stake holders • Achieve impeccable reputation and credentials through best business practices Analysis As it can be seen from the vision statement it nurtures out the essence of the company policy, which aims at making each person strong enough to be able to realize his dreams with the help of ICICI Bank Moreover, the mission statement unambiguously defines the futuristic...
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...time. The real estate crash of 2008 halted new development substantially but that trend seems to be slowly reversing now. The racial and ethnic profile of Pinellas has not changed dramatically; however, consistent with most Florida counties, the Hispanic population does continue to increase among the general population. The community's social problems (crime, homelessness) have remained constant and the unemployment rate seems linked more so to the national economy than local community issues. Unemployment remains a problem but has significantly decreased since improvements in the economy have occurred. The community's future prospects are good and the tourism industry remains strong due to our warm climate and beautiful beaches. 3. Mass media has made and continues to make dramatic changes and these changes do affect family activity. When the TV was the only real form of household entertainment,...
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...Flare Fragrances Company, Inc. Analyzing Growth Opportunities By: Connor Skelly, Rob Bednarz, Brandon Bao, Purvish Patel Problem & Solution In light of the recent recession, Flare Fragrances has experienced a significant decline in revenue, though still staying in positive growth. A decision must be made as to how Flare will bounce back from the recession while also gaining market share in an already crowded market. Advertising budgets are consistently inferior to the competition as Flare depends heavily on the Loveliest brand name, its recognition, and halo effect on the other products. Flare is also under pressure by their biggest competitor, Aromatique, who will launch a new product in the coming months priced at $42. With Flare’s successful latest release of Natural, an eco-friendly fragrance targeting millennials, is important to keep newer and younger consumers in mind while also keeping the current, loyal customers, happy. The recommended solution is to develop and implement the brand Savvy, under the Loveliest umbrella, for 2009 at a price of $40. The new product will stay consistent with biannual releases that Flare has implemented. After Natural’s successful launch, it is expected that Savvy will receive very positive feedback and have at least an equally successful launch. The price point reflects the evidence showing pricier fragrance sales will be on the rise in the years after the recession. By staying under the Loveliest umbrella, there will...
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...Fragrance come from it’s six lines of fragrances. However, Flare Fragrance has been faced a growth challenge in a difficult economic environment. Decline in Growth Rate was from 12% growth in 2007 to 2% growth in 2008. There are different reasons for a decline in Growth. Firstly, company had underutilized market for young women(18-34 years old). Secondly, increased competition in the market. The company had comparatively low spending on the advertising. Another reason is that Flare Fragrances had relatively low sales in distribution areas. The corporation had to choose one of the strategies proposed by its consulting group in order to remain afloat. CEO of the company, Joelly Patterson, underlines two possible opportunities to her marketing team to evaluate. One of the possibilities of future development includes introducing a new product. It is a fragrance oriented at a younger audience. Another one is doing market penetration into the drug stores channel (increasing its sales at drug stores, prestige department stores, and through the internet). In order to take a final decision, it is necessary to analyze each possibility of future development. We should look at the internal and external...
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...because of its high equity trading prices in comparison to their competitors. This dip in profitability and market share was noted by company directors, and thought to be the result of the growing disconnect between Schwab and its retail customers. Until 2004, Schwab had 6 different advertising campaign strategies that led to inefficiencies in cost and allocated resources. These advertising campaigns focused on a different product or service that Schwab offered to its investors, but due to the magnitude of this approach, their combined efforts became counterproductive. Chief Marketing Officer Becky Saeger, felt that “future growth and brand revitalization” were necessary to rebuilding the Schwab brand. A major focal point to the campaign was the need to differentiate itself from its competitors through approachability. The advent of the internet was a contributing factor toward the diminishing rapport Schwab had with its clients. This avenue of trade instilled individual investors with a self-assured attitude. In addition, it provided convenient access to research real-time stock quotes, company news updates and analysts’ reports on numerous industries. The ease and flexibility of the internet allowed individual investor’s the capability to buy and sell securities online which reduced the need for the full-service brokers. Evaluate the company’s strategy behind the TTC campaign Schwab’s...
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...Is Marketing Totally Ethical? Kotler and Armstrong, posit that marketing is about managing profitable customer relationships by creating value for the customer in order to get value in return. It begins with identifying what the customer needs, crafting customer driven strategies, fashioning out marketing programs, building customer relationships and capturing value for the firm. In the process of carrying out various marketing activities, through different media, the question of marketing ethics comes to the fore. Marketing ethics according to Philip Kotler is “the area of applied ethics which deals with the moral principles behind the operation and regulation of marketing”. Applied ethics, in the words of Brenda Almond, co-founder of the Society for Applied Philosophy, "the philosophical examination, from a moral standpoint, of particular issues in private and public life that are matters of moral judgment". It is thus a term used to describe attempts to use philosophical methods to identify the morally correct course of action in various fields of human life. An ethical practice would bring about the greatest good and value for all those involved. Marketing is hinged on the need to transmit the value of a product or service to end users to influence buying behavior and unethical practices may arise from the hassle to meet performance targets. Marketing cannot be said to be totally ethical since it involves reaching out to a large mass of people with different backgrounds...
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...better readability of their screens especially in bright sunlight and longer battery life. This is achieved by using electronic paper technology to display content to readers. Any device that can display text on a screen can act as an e-book reader, but without the advantages of the e-paper technology” (Wikipedia, n.d.). E-books are a new category computing devices that are gaining appeal to the mass market. The e-book entered the market in 2007 and started to gain notice in 2010. It is only gaining more leverage as this new technology gains ground and growing competition. The main focus of e-readers is entertainment. With nearly one in five American adults now owning a tablet according to a new study from the Pew Research Center. A paperless future might be sooner than we expect. So what does the macro environmental trends show for the e-reader’s future in five years? The macro trends, for short can be divided into six major components: demographic, socio-cultural, economic, technological, regulatory, and natural environments. So what does this all have to do with e-readers? It allows marketing managers and strategists to see what trends are influencing demand in the market of interest, whether favorably or unfavorably. Demographic environment is related to population and population mix. It is the people who make up the market. Therefore we must see who it is that is accessing the e-readers and who may be interested in them. According to Pew Research Center’s Internet & American...
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...CHAP 6 * Introduction * The indian pharmaceutical companies, before 2005, were not allowed to trade with developed countries because, India did not respected drug patents. * In 2005 India signed up a agreement that stated that India would agree with global patent rules. * This oppened a path for the rising of business opportunities. * This pharmaceutical firms produce now, low-cost generical and patented medicines that are sold worldwide, usually in partnership with western companies. * The western companies perform the R&D and marketing, and contract some indian firms to produce the medicines * This way of working togethere lowered the costs for western firms e for western consumers, at the same time it generated Jobs in índia increasing the wealth of the country, so now indians can buy more western products. * There are always winners and loosers. It can be win-win in long term as the winners will be more wealthier and spend more buying losser’s stuff * The earnings of the winners are bigger then the losses of loosers, so globally it is better to trade. * An Overview of Trade Theory: * Free Trade: situtation in wich the government does not influence in what consumers can buy or sell to other countries. * The Benefits of Trade: * No one suggests that Iceland can grown its own oranges, so they can benefit of trading what they are good producers(fish) for oranges, and then have a mixed diet. ...
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...Teven Cuddeford Introduction to Business Social Media And Marketing There has been a tremendous amount of change in the global markets in the past few years. This has predominantly due to the fact that there is a shift in the consumer mindset, consumption patterns, changes in demography and organizational attitude brought through by advancement in technology. This has led to a change in marketing strategies and practices across the world. Marketing thinkers and companies are prompted to frequently re-think their strategies and adopt new theoretical and practical approaches to address specific marketing changes and also to think beyond the scope of traditional marketing theories (Constantinides, E, 2006). A majority of the changes were influenced by the advent of internet and easy accessibility of users to this medium of communication. The internet has grown to become a highly accepted source of information and consumers can now benefit from the expanded range of timely and relevant product-related information accessible through the internet as quite rightly pointed out by Quelch and Klein (1996, cited Soumava 2001 ). In these changed circumstances prevalence of Social Media tools like YouTube, Podcasts, Wikipedia, Blogs etc has prompted businesses to adopt these as an effective and potent marketing and promotional tool and is changing the face of conventional media. Fernando suggests that social media offers phenomenal opportunities to marketers with fewer pitfalls. Today...
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...Revised 2/11/10 Page 1 of 18 FRÉDÉRIC F. BRUNEL Boston University School of Management Department of Marketing 595 Commonwealth Avenue Boston, MA 02215 : (617) 353-4609 Fax: (617) 353-4098 e-mail: brunel@bu.edu Education 1998 Ph.D. in Marketing, University of Washington 1992 M.B.A., Illinois State University (graduated top of class) 1989 B.S. in Business Administration, Ecole Supérieure des Sciences Commerciales d'Angers (ESSCA) Angers, France (graduated in top 5%). Dissertation Brunel, Frédéric F. (1998) “The Psychology of Product Aesthetics: Antecedents and Individual Differences in Product Evaluations”, Chair: Richard Yalch. Academic Positions Boston University, School of Management Associate Professor of Marketing & Dean’s Research Fellow, since September 2007 Assistant Professor of Marketing, March 1998- August 2007 Marketing Instructor, September 1997 to March 1998 Delft University of Technology, The Netherlands, Department of Product Innovation and Management Visiting Scholar, 2005 (November-December) University of Washington, School of Business Instructor, 1994-1997 Teaching Assistant, 1992-1994 Publications 1. Brunel, F., Utter, D. (2009). Phillips Foods, Inc.: Introducing King Crab to the Trade (pp. 20 pages). London, Ontario: Ivey Publishing, # 909A04. 2. Brunel, F., Utter, D. (2009). Teaching Note. Phillips Foods, Inc.: Introducing King Crab to the Trade (pp. 18 pages). London, Ontario: Ivey Publishing, # 809A04. 3. Susan Fournier, and Frédéric F....
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