...Programme: BTEC Higher National Diploma in Business (Marketing) Unit Title and Number: Advertising and Promotion in Business (Unit 18) QFC Level: 4 Unit Code: J/601/1000 Credit value: 15 credits Module Tutor: Mehedi Khan Email: m.khan@mrcollege.ac.uk Date Set: 23rd September 2014 Name: …………………………………………. Registration Number: …………………………………………… Date: …………………………………………… Is this a First Submission or Second Submission ? Word Count (max.5000) Turnitin Score Complete and copy this page and add it as the front sheet to your online submission [pic] Part 2 Assignment Brief Programme: BTEC Higher National Diploma (HND) in Business Marketing Unit Title and Number: Advertising and Promotion in Business (Unit 18) QFC Level: 4 Unit Code: J/601/1000 Credit value: 15 credits Module Tutor: Mehedi Khan Email: m.khan@mrcollege.ac.uk Date Set: Starts: 23 September 2014, Ends: 5 December 2014 Distribution Date : 30.09.2014. LO1 Submission Date : 21.10.2014 (for formative feedback) LO2 & LO3 Submission Date : 10.11.2014 (for formative feedback) LO4 Submission Date : 18.11.2014 (for formative feedback) Final Submission Date (Full Assignment): 5th December 2014 The effective use of advertising and promotion is a fundamental requirement for any business seeking to succeed in the modern business world. As they...
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...Introduction Promotion is used by organisations to communicate with customers with respect to their product offerings. In this sense, promotion is one side of the communication process with customers. Market research, in which suppliers seek to elicit information on consumer requirements from consumers, is the complementary component of the communication process. The following summarises this very simply: Promotion → Producer Customer ← Market research In some forms of promotion and service delivery, communication in both directions can be achieved simultaneously, and since two-way communication is the only real form of communication, promotion which is associated with two-way communication is to be encouraged. Examples of such two-way promotion emerge largely from the contexts of services marketing and relationship marketing. In services marketing, for example, promotion can be part of the service delivery. Exchanges between the service agent and the customer can elicit information about customer requirements, and also permit the service agent to explain the organisation’s products and how these might meet the customer’s needs. Similar kinds of exchanges can occur in the relationship marketing interest in business-to-business marketing transactions where the sales person is a significant agent in the establishment of relationships between customer and the organisation. A more formularised approach, the use of loyalty and reward cards, in, say, supermarkets, offers another approach...
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...Case Study: Snapple Steals Share I. Introduction This case study scans the critical decisions to be made by Arnold Greenberg, Chief Operating Officer (COO) of Snapple. The point of view of the latter was chosen since his role is increasingly important to the company’s ability to execute its strategy. The chief operating officer’s main concern is to come up with strategies that will drive operational excellence and high performance in the operation of the business. His decisions are very critical to the success or failure of the business. He is also responsible for turning such decisions into actions. II. Objective The primary objective of the study is to identify the major problem and articulate a solution that resolves the issues. III. Problem/Issue Analysis Snapple come up with a decision whether to change its strategies to keep on competitive in the ready-to-drink market and how they supposed to do these strategies with all the pressure that goes with it. IV. Alternative Courses of Actions (ACAs) The courses of actions presented in this case are made possible to address the problems and issues, these are as follows: Course of Action No. 1 Expand the company Advantages • The primary benefit of business expansion is the ability to attract, retain, and gain new customers. • Expanding the market of the business will give sense. It will create recognition to the company as well as the product/services they offer in the market • One clear...
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...video game in 2013 in the UK. Is it impressive in the industry today? (4) Understand the conditions of main contenders of SONY. Compare the sales between SONY and its main competitors in 2013. (5) Understand the market share of the low-end video games developed by SONY in the UK. Is there a market for it? What kind of consumers prefer to buy such products? 2. Analyze the establishment of a viable product marketing mix of SONY in the low-end market from the perspective of 4P marketing theory. Price (1) What is the consumer expected price (2) What pricing strategy is appropriate for SONY (3) Estimate whether the product can bring profit Product (1) How to position a suitable product to meet market demand (2) How to increase the competitiveness of the products with an outstanding product concept. Place and promotion (1) How to select ideal sales locations to boost sales (2) What promotional tools would be appropriate? Through the answers to the first part of questions, it can be known that whether there are opportunities in the low-end market, what kind of people will be the main target customers and what competitive environment the products will face. Based on the understanding of the market environment and through the analysis of the second part of questions, it can be concluded that the advantages and disadvantages of SONY in developing low-end market. Thus, the...
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...Senda Mega Rizky Varianto Ciawi Marketing 2013 CHAPTER I INTRODUCTION 1.1 THEORITICAL FRAMEWORK PRODUCT PRODUCT SALES SALES PRICE PRICE PROMOTION PROMOTION PLACE PLACE 1.2 RESEARCH PROBLEM Brand | Year | | 2013 | 2014 | 2015 | Nescafe | 43.14% | 28.4% | 30.4% | Granita | 20.97% | 30.2% | 22.0% | Good Day | 9.22% | 5.2% | 10.9% | Kopiko 78’C | - | 5.5% | 7.4% | Capucini | 5.41% | 5.6% | 5.0% | *Top Brand Index of Ready to Drink Coffee year 2013-2015 Based on data above, Good Day's top brand index decreased from 2013 to 2014 about 4% and increasing from 2014 to 2015 for 5.7%. This increasing certainly caused by the increasing quality of marketing mix and brings good effect to its sales. 1.3 STATEMENT OF PROBLEM 1. Is there a significant level of influence between Product towards change in sales at Good Day? 2. Is there a significant level of influence between Price towards change in sales at Good Day? 3. Is there a significant level of influence between Promotion towards change in sales at Good Day? 4. Is there a significant level of influence between Place towards change in sales at Good Day? 5. Is there simultaneously influence of Product, Price, Promotion and Place towards change in sales at Good Day? 1.4 OBJECTIVES 1. To determine is there any significant level of influence between Product towards change in sales...
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...Marketing Mix: 7Ps Analysis of ASUS U32U Notebook I Executive Summary The marketing mix concept is one of the core concepts of marketing theory. Traditionally, the marketing mix was known as the 4Ps – Product, Price, Place and Promotion. As marketing became a more sophisticated discipline, a fifth ‘P’ was added – People, and recently, two further ‘P’s were added, mainly for service industries – Physical evidence and Process. Thus, the marketing mix is now known as the 7Ps. The current report seeks to identify how the product ASUS U32U– DS31 13.3" Notebook delivers value and satisfaction to the customers through the marketing mix perspective. As a qualitative research, a brief describe the product characteristics will be first highlighted. Consequently, the paper will concentrate on the central point – analysis of the marketing mix 7Ps based on how the product delivers value and satisfaction to customer. To sum up the report, summary findings will be presented in the conclusion part, as well as the recommendation and further improvements. II Table of Contents Executive summary Table of contents II III 1. Introduction 2. The product and the company 3. Product 4. Price 5. Place 6. Promotion 7. Physical evidence 8. Processes 9. People 10. Conclusion & Recommendations 1 2 2 3 4 5 7 8 8 9 References 10 III 1. Introduction ASUS U32U – DS31 13.3" Notebook was launched in April, 2012. It is perfect for those who are looking for a notebook with a long...
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...Marketing Mix MKT/421 February 11, 2013 Ron Stripe Marketing takes a day to learn. Unfortunately it takes a lifetime to master – Phil Kolter. Marketing involves so much more than simply selling a product or service. It involves planning and preparations that requires an organization to connect with their customers on a much deeper level. A marketing mix is one of the most valuable tools an organization can utilize to create such a connection. The marketing of an organization includes so many variables; therefore, it is necessary to categorize these variables by product, price, place, and promotion, which are the 4P’s of the marketing mix. These categories are the framework for just about every successful organization in today’s market. An organization like Fisher-Price understands how important a marketing mix is to compete in a market that is saturated with developing young minds; which in fact, was the driving force behind their refreshing new approach to stay connected with today’s moms. The Marketing Mix What is a marketing mix and how does it affect an organization? The answer to this question is what all business owners and managers need to know to contend in the highly competitive market of this day and age. The term "marketing-mix," was first coined by Neil Borden, the president of the American Marketing Association in 1953. It is still used today to make important decisions that lead to the execution of a marketing plan. The various approaches that are used...
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...Executive summary: Advertising and promotion is used to inform about the products or service to customers, stakeholders or boarder publics. To fulfill this motive, many strategies has been developed and practiced over the world. In this era of technology and science, it has become easier to carry out advertising and promotional activities. This assignment has been specially designed about the communication, strategies, techniques and evaluation that are needed to carry out proper advertising and effective promotion. The importance and significance of promotional activities have also been included here. The assignment is writing in such a way that all kinds of readers can easily understand the points mentioned here. Table of Contents Executive summary: i Introduction 1 LO 1: Understanding the scope of marketing communication. 1 1.1 Communication process that applies to advertising and promotion. 1 1.2 The organization of advertising and promotion industry. 2 1.3 Assess how promotion is regulated. 3 1.4 Examine current trends in advertising and promotion including the impact of ICT. 3 LO 2: Understand the role and importance of communication. 4 2.1 Explain the role of advertising in an integrated promotional strategy for a business or product. 4 2.2 Explain branding and how it is used to strengthen a business or product. 4 2.3 The creative aspects of advertising. 5 2.4 Ways of working with advertising agency. 5 LO 3: Understand below-the-line techniques...
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...Marketing Mix Shaunte Crump Marketing Mix Marketing is an important funcion to any organization. Marketing is defined as “planning and executing the conception, pricing, promotions, and distribution of ideas, goods, services, organizations and events. To create and maintain a relationship that will satisfy individual objective as well as the organizations. (Peters, S., 2005). Marketing is the driving force of any organization. There are four elements of the Marketing Mix product, place, price, and promotion. This paper will describe the four elements of the marketing mix, how each element is implemented in an organization, and how each element impacts the development of the organization’s marketing strategy and tactics. As an example we will use the organization that I work for Manufacturer Direct Sales Inc. Four elements of the marketing mix Four elements of the marketing mix include product, place, price, and promotion. Product is defined as “Bundle of physical, service, and symbolic attributes designed to satisfy a customer’s wants and needs.” (Peters, S., 2005). Place is defined as “Efforts to attract people and organizations to a particular geographic group.” (Peters, S., 2005). Price is defined as the exchange value for services and goods and promotion is defined a link between buyers and sellers that inform, persuade, and influence consumers to make a decisions regarding purchasing (Peters, S., 2005).Organizations use the four elements of the marketing...
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...how the product should look, how it should function and how it can be used by the customers, is mainly determined by market research and based on the same marketing strategies are determined to position it in the best possible manner in the market. To be successful at developing the right product, which is one of the important four p’s of marketing, the marketing department should give regular inputs with regards to the needs and wants of the customers to the manufacturing department. Guarantees, warranties as well as support services for the product are decided upon to match the offerings of the competitors. Price Next of the 4 p’s of marketing is the pricing strategy. The price should be determined in accordance to a number of factors such as the number of product features, the price of similar products in the market, how much the customers are willing to shell out for the conveniences offered by the product, etc. As price is the revenue for a business so special attention should be paid while determining the pricing strategy. Discounts, allowances, financing options fall under the pricing marketing mix strategy too. Place “Place” refers to making a product available to a customer at the right place and right time. For this, a business needs to have a proper distribution network in place along with appropriate storage facilities. A business should ensure that there is never a shortage of the product in the market. A business should determine which is a proper marketing tool...
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...Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. As a market leader, Grameen Phone is continuously coming up with new ideas regarding its products and services. Recently, the company is mainly focusing on the non-voice services. Because, the company knows in near future, voice based services will reach to the maturity stage which will make the business growth constant to some extents. Hence, the company is trying to maintain the leading position in non-voices services as well like SMS, Push-Pull, and Information related services at the early growing stage. These services are working as a building block to increase GP’s service value. Marketing Mix The marketing mix is a marketing tool and is used to determine a product’s unique selling point. It is often referred as the 4 p’s. it includes product, price, place and promotion. * Product: A product is seen as an item that satisfies what a consumer needs or wants. It is a tangible good or an intangible service. Intangible products are service based like the tourism industry & the hotel industry or codes-based products like cell phone load and credits. Tangible products are those that can be felt physically. * Price: The price is the amount a customer pays for the product. The price is very important as it determines the company's profit and hence, survival. Adjusting the price...
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...general media exposure. The four 'Ps' of marketing are product, place, price and promotion. Now hospitals are facing the same world of transparency and competition, and they would do well to consult the marketing playbook hotels and other service businesses use to enhance their customers’ experience. Marketing theory is driving a shift from provider empowerment to customer empowerment. In the past customers did not have the expertise, or access to information, to judge service professionals. What a lawyer, teacher, or doctor said was taken at face value. Now the efficacy of that information is checked online and experiences are shared with other customers. Marketing techniques A marketing strategy is an overall marketing plan designed to meet the needs and requirements of customers. The plan should be based on clear objectives. A number of techniques will then be employed to make sure that the marketing plan is effectively delivered. Marketing techniques are the tools used by the marketing department. The marketing department will set out to identify the most appropriate techniques to employ in order to make profits. These marketing techniques include public relations, trade and consumer promotions, point-of-sale materials, editorial, publicity and sales literature. Marketing techniques are employed at three stages of marketing: Market research enables the organisation to identify the most appropriate marketing mix. The mix should consist of: * the right product ...
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...Marketing your business is about how you position it to satisfy your market’s needs. There are four critical elements in marketing your products and business. They are the four P’s of marketing. These are PRODUCT, PRICE, PLACE and PROMOTION. Each of the four P’s is a variable you control in creating the marketing mix that will attract customers to your business. Your marketing mix should be something you pay careful attention to because the success of your business depends on it. As a business manager, you determine how to use these variables to achieve your profit potential. This publication introduces the four P’s of marketing and includes worksheets that will help you determine the most effective marketing mix for your business. In this essay, we will explain how these four P’s can be used to implement the running of the business enterprise. PRODUCT Product refers to the goods and services you offer to your customers. Apart from the physical product itself, there are elements associated with your product that customers may be attracted to, such as the way it is packaged. Other product attributes include quality, features, options, services, warranties, and brand name. Thus, you might think of what you offer as a bundle of goods and services. Your product’s appearance, function, and support make up what the customer is actually buying. Successful managers pay close attention to the needs their product bundles address for customers. Your product bundle should meet the needs...
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...Tabel of Contents 1. Introduction 3 2. Definition of marketing 3 3. Meaning of marketing 3 4. Role of marketing 4 4.1 Marketing strategy 5 4.1.1 Market segmentation and targeting 5 4.1.2 Marketing differentiation and positioning 5 4.2 Marketing mix 6 4.2.1 Product 6 4.2.2 Price 7 4.2.3 Place 7 4.2.4 Promotion 8 5. Conclusion 8 Reference 10 Introduction Profitability is the final goal for all business. Companies earn profits through customers purchasing their products and services. Without marketing, companies cannot attract consumers and grab the market share. That’s why marketing is so important to a business. In this essay, the author will discuss the role of marketing in the development and launch of new products, using the new product of Zag called “Patet”, which is a multifunctional translate device. Definition of marketing “Marketing is managing profitable customer relationships.”(Armstrong and Kotler, 2012) This simple definition of marketing illustrates that the two main goal of marketing is to grab new customers by guarantee their value of products and services as well as keep satisfying their current customers. In 2007, The Chartered Institute of Marketing (CIM) also defined marketing as “The strategic business function that creates value by stimulating, facilitating and fulfilling customer demand. It does this by building brands, nurturing innovation, developing relationships...
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...Broadly speaking, in order to maximise profits, different firms use distinct tools to perform strategy and decisions, such as SWOT analysis, PESTEL analysis and marketing mix analysis. In terms of the marketing mix, as an important concept in the subject of business studies, it refers to “a balance between the four main elements of marketing [is] needed to carry out the marketing strategy. It consists of the ‘4ps’: product, price, promotion and place” (Marcousé and Surridge et al., 2011:141). Firms can build an effective marketing strategy by using the marketing mix as a tool, and it is possible that business will fail if the marketing mix is not correct. The aim of the essay is to analyse elements of the marketing mix. Initially, it will discuss four elements, which are the product, price, place and promotion respectively. Then, it will evaluate the most vital component in the marketing mix, which is the product. The first component of the marketing mix is the product. “A product is a good or service produced by a business or organization, and made available to the public for consumption” (Ashwin and Merrills et al., 2008). Each product has a different feature, which could be the unique selling points of them. Roams and Cota (2008:152) attempt to define this term is, “A unique selling point (USP) is a short statement that explains why a customer should buy from you instead of your competitorsin". For example, Apple Corporation has a unique and independent operation...
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