...1. What is the overall purpose of a marketing plan? A marketing plan is a written statement that helps the company to operate on a certain standard to keep production of the product or service on the same level ( Winer 2004). A marketing plan is a necessary factor for every business to have in the employee handbook and also for proper and even distribution of the product or service. A written plan is a easy way for the marketing manager to inform employees exactly what is expected of them instead of having everything in his head. This way everything is covered without having loose ends and later on having production problems. Direct communication with the employees is a good thing, but with a written plan this gives the manager concrete evidence on how the organization should be operated. In other words, the manager spends less time telling the employees what to do and more time making sure the product or service is correct. The most important thing in having a written marketing plan is that it helps you build, direct and shape up your product or services. It also forces the marketing manager to look at the business from the inside and the outside to give good service to the customer and stay abreast on the competitors. “This disciplined thinking helps to ensure that before any marketing strategies or programs are developed, the manager first analyzes customers and competitor behavior and the general climate in the product category or industry. Market-focused decisions...
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...Philosophy of Style Brittany Harris MARK 3321 April 8, 2013 INTRO Philosophy of Style was created from a conversation that I was having with my boyfriend in earlier this month. I work for a real estate developer in Dallas and have recently become very interested in pursuing a career in the industry. One thing I have come to realize about business is that connections are everything. After realizing that I have formed many connections in the real estate industry, I hypothesized that there must be a way to provide services that could utilize these connections, enhancing business opportunities for both parties. When I began to share this idea with my boyfriend, we came up with the idea of “The Philosophy of Style,” a website that will feature all the amazing business associates that he and I have the opportunity to work with in Dallas. These individuals range from architects to builders, designers to developers, and even agents that list incredible homes in Dallas. My work is primarily in Uptown, Highland Park, and University Park. These neighborhoods are all top-dollar markets in Dallas with average home value is between $450K-$1M. This means that our clients (connections) are seeking top dollar customers. Philosophy of Style is designed to connect our clients with their ideal customers. The avenue we use to achieve this goal is our website: www.philosophyofstyle.com. Although the website is up and running, it is still very much in its infancy. Many elements of this paper...
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...Assessment 1 1. Critically comment on the combination of orientations in the organization’s marketing philosophy. 2. Discuss how the theory behind strategic marketing planning models can be used in the formulation of the organization’s marketing strategy. 3. Identify and critically evaluate possible opportunities for growth within the organization’s macro environment. Programme Name Master of Science in Marketing with Festival and Event Management Module and Module Number MKT11908 - Principle & Practice of Marketing Name and Matriculation Number Choi Pang Fung Oscar (40190237) Submission date 14 July 2015 (3,048 words) Content i. Study Objective P.3 ii. Bandai’s Company Background and Mission P.3 iii. Combination of Orientation in Bandai’s Marketing Philosophies P.4 iv. Strategic Marketing Models and Marketing Strategy of Bandai P.6 1. Ansoff Matrix P.6 2. BCG Matrix P.8 v. Possible Growth Opportunities within Macro Environment / Recommendation P.11 vi. Conclusion P.13 Reference P.14 Bibliography P.15 i. Study Objective This paper examines how Bandai Co., Ltd. implements a combination of Marketing and Product Orientation in its marketing philosophy. Then the formulation of their strategic marketing approaches will be assessed using Ansoff Matrix and BCG Matrix. The last section will...
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...OF INTERNATIONAL RESTAURANT MANAGEMENT BACHELOR OF INTERNATIONAL RESTAURANT MANAGEMENT Course name: ADVANCED MARKETING Assessment: Assignment 1 : Essay Students name: SARAH BINTI ISKANDAR FAIZ Preferred name: SARAH Student # 640996 3. What is the purpose and what are the benefits of the marketing philosophy? How does it differ from past traditional philosophies? Give company examples (with appropriate referencing) to illustrate. Give examples to explain how companies are moving towards societal marketing within the hospitality and tourism sectors. An establishment of an organizations, business or products constantly applies marketing ideas by understanding customers need and developing the products and services to meet their satisfactions and needs. Peter F. Drucker who is a successful management consultant says “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” Hospitality and tourism industry are rapidly changing and flexible therefore a combination of marketing concept or strategy will be needed and is also due to increasing level of globalization therefore trends and function has been constantly changing over the decades However the basics of marketing philosophy has constantly guiding one’s businesses marketing activities. Purpose of marketing philosophy means giving a complete customer his or her satisfactions by studying and analyze target market theirs needs and wants while...
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...Introduction “Nigeria is a country blessed with both abundant human and natural resources, and we therefore seek partnership not dependency; we seek to build capacity not undermine local initiative. Finally, while government can and should provide for its citizens, ultimately the private sector must be the engine of economic growth. If Nigeria can create an enabling environment for investment, including a frontal assault on corruption and lack of transparency, I am convinced you will find American businesses and investors eager to enter the largest market in sub-Saharan Africa, creating jobs here in Nigeria while offering expertise, innovation and some of the world’s finest products” (Ambassador Terence P. McCulley-July 1,2011) Throughout history, trade provided one of the first impulses for inter-state contacts and agreements. Though emissaries had been exchanged between kingdoms and empires since times immemorial in many world regions, the first form of modern permanent overseas representation took the shape of consulates, around the 16th century; these outposts were established in the Mediterranean, during the Ottoman Empire, when Italian principalities sought commercial markets, and the foreign traders themselves organized a form of joint representation in the ports, to deal with the local authorities. These early consulates saw the advantage of gaining support from their home administrations, and thus were born the first overseas representation offices – the resident...
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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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...MARKETING PHILOSOPHY . The marketing era started to dominate around 1950, and it continues to the present. The marketing concept recognizes that the company's knowledge and skill in designing products may not always be meeting the needs of customers. It also recognizes that even a good sales department cannot sell every product that does not meet consumers' needs. When customers have many choices, they will choose the one that best meets their needs. MARKET CONCEPT AND PHILOSOPHY The marketing concept and philosophy states that the organization should strive to satisfy its customers' wants and needs while meeting the organization's goals. The best way to meet the organization's goals is also by meeting customer needs and wants. The marketing concept's emphasis is to understand the customers before designing and producing a product for them. With the customer's wants and needs incorporated into the design and manufacture of the product, sales and profit goals are far more likely to be met. With the customer's satisfaction the key to the organization, the need to understand the customer is critical. Marketing research techniques have been developed just for that purpose. Smaller organizations may keep close to their customers by simply talking with them. Larger corporations have established methods in place to keep in touch with their customers, be it consumer panels, focus groups, or third-party research studies. Whatever the method, the desire is to know the customers so...
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...INTRODUCTION The article “Marketing: philosophy of science and “epistobabble warfare” is a commentary by the author Michel Rod published as a qualitative research in an International Journal, Vol. 12 Iss. 2, pp. 120- 129. Throughout the article Rod articulated his viewpoints on the variety of philosophies involved in legitimizing the science of marketing research and sought to establish his own perspective of what he actually believes marketing research should accomplish. This was stated in his thesis statement that: “Rather than argue one particular perspective, it is this paper’s central thesis that no one philosophical perspective does or should have a monopoly on what makes a useful contribution to our understanding of marketing phenomena. “ Consequently, what Rod proposes is that rather than trying to establish an allegiance to any one particular philosophy one should be free to research, understand and articulate all the questions and results that can ‘contribute meaningful information to the study of marketing phenomena’. In other words, whilst Rod understands that a philosophy might be needed to establish foundations of ontology and epistemology to determine the methodology (POEM): - * Type of questions or problem one attempts to answer in their research * The manner in which these questions should be posed…. * The best methodological approach to shed some light on the particular question(s) being posed or the phenomenon of interest being investigated...
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...Marketing Ideology Roger D. Jermeay II Marketing and Promotion Baker College MARKETING IDEALOGY “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself” Peter F. Drucker (2001). Marketing is more than definitions, abstract thinking, theory and being sales manager. It is a science that incorporates functional knowledge that operates, not in a vacuum, but based on accepted principles. The purpose of this report is to inform the reader about marketing in the United States of America. The American style of marketing is the advent of business’ to find a way to make a profit. It is a necessity for businesses to know the current situation of the social economic environment, without such knowledge it is impossible to reach the next level. In the case of marketing evolution, with time comes change and change is a necessity to evolve. As society grows so should a business’ marketing attitude to remain competitive in an ever changing environment. In the business world marketing is continually a key assist or major detriment to a business’ success. Marketing is define as: The activity, set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Nickels, HcHugh, & McHugh, 2010). To further explain, marketing does for a company what a resume does for person applying for employment....
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...Explain why the market oriented philosophy is so important. The phrase market-oriented is used in marketing conversations as an adjective describing a company with a marketing orientation. Market orientation more describes the company's approach to doing business. Market-oriented defines the company itself. If a company is market-oriented, its board and executive leadership believe that the best way to succeed is to prioritize the marketplace above products. This usually goes over well with customers, but the company also must have adequate research and development to provide what the market wants. Hence, a market-oriented organization is one whose actions are consistent with the marketing concept. Difference Between Marketing Orientation & Market Oriented by Neil Kokemuller, Demand Media http://smallbusiness.chron.com/difference-between-marketing-orientation-market-oriented-14387.html Marketing is a management process and management support for marketing concept is very important element in success. If a company wants to be successful then it is market oriented. Marketing involves identifying the customer requirements and estimate the customer requirements in future. It requires planning which is very important process of marketing. To satisfy the needs the business should provide benefits – offering right marketing at right time at right place. Generally market based companies adopt strategic level marketing that defines the mission and long term objectives...
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...Marketing philosophies help determine the management of marketing. Companies approach and conduct business in different ways in order to achieve their organizational goals. Based on the meeting held about the newly formed firm, each of them has his/her own opinion on what marketing concept will be used. According to Julie, they should use Production Concept and mentioned that price is an important factor in making profit. This concept is based on the fact that consumers favor products that are widely available and affordable. Concentration on production efficiency and effective distribution networks outweigh the customer's actual needs and wants. This is used primarily when demand exceeds supply and the focus is on finding production methods that can bring the price down to attract more customers. Next is James, who wants to improve the quality, performance, and features of the bicycle to attract buyers. This philosophy is Product Concept. It tends to spend too much time adding features to the product, rather than thinking about what people actually need or want. This type of philosophy tends to result in marketing myopia because innovation for new products ceases to exist. Companies that use this philosophy are looking for niche audiences that value the utility of their product. On the other hand, John who is referring to Sales/Promotion Concept wants to get a high-profile celebrity to endorse the product. It actually focuses on sales rather than what people actually need or...
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...Marketing Plan Outline: Gracy's Shampoo, Hair Conditioner & Body Wash All & One Introduction The following draft want to create at this project to scheme of work in which there can create this product so this note acceptance for consumers and at the same time affordable for their company to they have created this scheme. In which I will create a plan of marketing for their new product as it is GRACY'S SHAMPOO, HAIR CONDITIONER, BODY WASH ALL & ONE. A product that I developed, in the to include an explanation of the product, an study of the market including size, demographics, and competitors. Also there investigation of the strategies, including sales, circulation, promotion, and marketing sustain prices. Much of their efforts with the products of the company, price, promotional approach and methods of planning there deployment issues relating to the Centre of marketers I. Description of Gray's Shampoo, Hair Conditioner, Body Wash All & ONE The new product "GRACY'S SHAMPOO, HAIR CONDITIONER, BODY WASH ALL & ONE" is for men and women. The product is available in different sizes and bottles. Our shampoo has all the nutrients like protein, vitamins and other essential organic products to improve the quality of hair and at the same time give their skin smoothness, unique, and successful. Our product will improve hair brightness and a mild sensation in their skin and hair growth. Our product contains no hypoallergenic that will not produce effects...
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... Castillo Course Name: MAR 1011. Principles of Marketing Instructor: Osvaldo J. Sanchez Describe the two philosophies regarding what principle should guide companies and marketing managers on issues of ethics and social responsibility. To describe the two philosophies regarding what principles should guide companies and their marketing managers and issues of ethics and social responsibility is to first understand what is ethics in business and socially responsible marketing. One philosophy believes that the free market and the legal system should decide such issues of ethics in social responsibility. The American Marketing Association has created a statement of ethics that governs marketer’s actions. The introduction to the statement basically as a whole state that the values represent a collection of ideas of desirable and morally correct conduct. These values that are outlined in said document are to be utilized as the standard by which individuals should measure their own actions and those of other included marketers and representatives. These values are to assist in the best practices when transacting business with the public and all parties involved. There are six ethical values the marketers expected to uphold: 1. Honesty- This means being upfront and forthright in dealings with the public and offering value and integrity. 2. Responsibility- This means, willing to accept the consequences of the marketing practices and serving the needs of every type of...
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...Running Head: MARKETING 101: ALL THE SINGLE LADIES Marketing 101: All the Single Ladies Abstract A quick glance into a grocery store, shopping mall or discount store will provide insight into the primary buyers of food, clothing, household and beauty products: women. Many of these women are married and some do not work outside the home but many recent studies suggest that at least half of these buyers are single women of various economic backgrounds who work outside of the home and may include single women who are financially independent and retired. This newer demographic presents an opportunity for businesses to reconsider their marketing targets and strategies and presents a major opportunity for the new business owner to tap into this market by designing a market-appropriate advertising plan. The utilization of such marketing tools may ensure a successful long-term venture. Grocery stores are often be dominated by female customers. Women are generally considered to be the primary purchasers of personal and family clothing and gifts. Discount stores are popular with women due to the availability of lower priced cosmetics and beauty products. Advertisements for groceries, clothing, household products, cosmetics and cooking are on television, in magazines and can be found on most social networking websites. But, what other products do women purchase? Specifically, what products may be appealing to single and/or retired women and how should these products be...
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...since won many accolades as a public company. The Bank has also been granted a Universal banking license and is also one of Central Bank of Nigeria’s appointed settlement banks. GT Bank has also undergone some rebranding exercises aimed at aggressive expansion and unique identity creation. It has gone from being a local bank to being one of the few Nigerian companies to be listed on the London Stock Exchange. GTBank’s Marketing Practices At the onset, GTBank, as it is fondly called, imbibed the product selling marketing concept. It rarely advertised its products to the public. It solely relied on the good product seeking customers to recognize its superior products and willingly become one of its customers. This put the bank in an ‘elite’ group of banks and it was not viewed as a peoples’ bank then, like some of its counterparts like STB, Savannah bank, National Bank etc, back then. This Product selling philosophy, whereby the producer believes that the quality of its products will attract the needed customers and thereby create the needed sales. This philosophy has its demerits in the sense that, many willing or potential customers might never know or fully understand the products on offer, especially, if it is virtual, like banking products. These demerits were recognized by GTBank and this led to the great rebranding exercise it undertook in 2005, where improved products and offerings were designed and the unique orange identity...
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