...What do Marketers do? Marketing has become an essential part of any business regardless as to whether they are big or small. It helps the business to establish the needs and wants of a consumer even before a product is produced. Not only does it involve the design, color, logo, layouts, and the physical appearance of a product, but it also involves the strategies that would need to be implemented for a product to get a proportion of the market share. According to Byron Sharp “Marketing – theory, evidence & practice” a characteristic of a marketer involves a combination of skills which may involve analyzing market and financial data, knowledge, sound judgement as well as creativity, but most importantly they must have great communication skills. The role of a marketer involves getting to know and understand the consumers present and future needs and wants. This can be done by conducting market research with either the whole market or targeting a specific type of market. With the data collected, marketers are able to analyse and establish consumer behavior and buying patterns, this process would be part of the business’s marketing strategy. “A marketing strategy should include a plan of action for developing, distributing, promoting and pricing products that meet the need of the target market. It is best formulated when it reflects the overall direction of the organization and it coordinated with all its function areas.” (Elliot et al. 2006 pg 32) The role of a marketer...
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...Applied Strategic Marketing Report 2013-2014 "The Benefits and Challenges of Multichannel Attribution in Marketing Analytics" by Alan K H Hsu 00849147 Word count: 4990 A report submitted in partial requirements of the MSc in Strategic Marketing degree 1 24th August 2014 Table of Contents Executive summary .................................................................................................. 1 Introduction .............................................................................................................. 2 Literature review ....................................................................................................... 4 The emergence and influence of Big Data ............................................................. 4 Attribution theory .................................................................................................... 6 Last-click attribution modelling ............................................................................... 7 MCAM .................................................................................................................. 10 Discussion .............................................................................................................. 14 Benefits: clearer channels interactions ................................................................. 14 Benefits: better marketing decision and effective budget allocation ..................... 15 Benefits: stay justified...
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...Marketing has always sought those moments, or touch points, when consumers are open to influence. For years, touch points have been understood through the metaphor of a “funnel”—consumers start with a number of potential brands in mind (the wide end of the funnel), marketing is then directed at them as they methodically reduce that number and move through the funnel, and at the end they emerge with the one brand they chose to purchase (Exhibit 1). But today, the funnel concept fails to capture all the touch points and key buying factors resulting from the explosion of product choices and digital channels, coupled with the emergence of an increasingly discerning, well-informed consumer. A more sophisticated approach is required to help marketers navigate this environment, which is less linear...
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...of Seminar : 26/09/2014 Table of contents Page Number 1. Discuss the impact of import restrictions on consumers. 3 2. What can be learned about a culture from reading and attending to factual materials? Given the tremendous increase in international marketing activities, where will companies in a relatively early stage of their internationalization process find the personnel to handle the new challenges? 4 3. Suggest ways in which the global marketer is better equipped to initiate and respond to global moves. 5 4. Discuss the possible shortcomings of secondary data. 8 5. Why might a firm choose to retreat to a domestic focus? 9 6. Propose scenarios in which export prices are higher/lower than domestic prices. 10 7. What specific advice would you give to an exporter who has used domestic direct marketing extensively and may wish to continue the practice abroad? 12 8. Discuss the impact of the Internet and e-commerce in making a firm global. 14 9. What are the implications of price escalation? 16 10. The Alliance for Gray Market and Counterfeit Abatement (http://www.antigraymarket .org) has as its primary purpose to “mitigate gray marketing and counterfeiting of high-technology products.” Is it appropriate to equate the two? Are the arguments by this industry coalition convincing? 17 11. Sources 19 Discuss the impact of import restrictions on consumers. Import...
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...Worldwide competition One of the product categories in which global competition has been easy to track in U.S.is automotive sales. The increasing intensity of competition in global markets is a challenge facing companies at all stages of involvement in international markets. As markets open up, and become more integrated, the pace of change accelerates, technology shrinks distances between markets and reduces the scale advantages of large firms, new sources of competition emerge, and competitive pressures mount at all levels of the organization. Also, the threat of competition from companies in countries such as India, China, Malaysia, and Brazil is on the rise, as their own domestic markets are opening up to foreign competition, stimulating greater awareness of international market opportunities and of the need to be internationally competitive. Companies which previously focused on protected domestic markets are entering into markets in other countries, creating new sources of competition, often targeted to price-sensitive market segments. Not only is competition intensifying for all firms regardless of their degree of global market involvement, but the basis for competition is changing. Competition continues to be market-based and ultimately relies on delivering superior value to consumers. However, success in global markets depends on knowledge accumulation and deployment.[1] tiwana. [edit]Evolution to global marketing Global marketing is not a revolutionary shift,...
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...Creating, Financing, and Marketing a Business BUS 100 March 3, 2013 Creating, Financing, and Marketing a Business A partnership is a voluntary agreement under which two or more people act as co-owners of a business for profit (Kelly & McGowen, 2012, p. 76). There are some advantages of this form of agreement whereas each partner has the right to participate in the company’s management and share in profits and losses, but also has unlimited liability for any debts the company incurs. A partnership is easier to establish compared to a corporation. Each partner will share start-up cost, and reciprocate support and motivation. Partnership earnings that pass through the business are taxed only as the partners’ personal income. In contrast to, unlimited liability, partners are jointly and individually liable for the business activity of the other. If a partner withdraws from the partnership, he is still responsible for any debt the business had at the time of withdrawal, it does not matter who created the obligation. Decisions are shared and differences of opinion can lead to disagreements, which can lead to one partner buying out the other. The various funding options for small businesses offer an individual an alternative to partnership. Federal, state, and local governments have all created government subsidy or incentive programs try to facilitate small business funding. Commercial banks and private investors also play a key role in funding small businesses...
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...Ethical Challenges in Marketing Communication Ethics play an integral role in the development and sustenance of any personal or business relationship. Ethics determine the acceptable behaviors within a society and the overall behaviors of a business. Marketers must understand the impact ethics have on marketing communications and develop Integrated Marketing Communication (IMC) strategies accordingly. This paper will discuss various ethical challenges facing marketers today, identify internal and external factors on IMC, and formulate two ethical questions based upon the analysis. Ethics in Marketing The practice of ethics within an organization is an important but difficult concept to understand and practice. The reason ethics are difficult to manage is that the concept is so subjective (Duncan 2002, pp. 671). Ethical values differ between societies and individual relationships, therefore a company must decide on an ethical communication strategy and portray it as consistently as possible. Duncan (2002) describes three ethical considerations companies must understand when developing marketing communications and relationships with customers. Stereotyping Stereotyping plays a significant role in developing marketing strategies that are both effective and ethical. "The challenge for brands is to develop messages that strike a chord with targeted audiences without reinforcing negative stereotypes" (pp. 672). Companies must ensure that their marketing tactics...
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...Impact of marketing strategy on sales performance Introduction There is no doubt that marketing is the only way used in providing the right products or services to the right customer in the right time. Any marketer can’t achieve any sales growth without setting and establishing proper marketing strategies, which enable the company to achieve the highest level of profitability and increase its sales performance more than the other competitors of the same industry. Recently, it has become the most essential managerial process in the organization where it determines the different demands of customers and tries to promote their products or services to the target customers and make them satisfied, so they will increase their sales margins, as well as the net profits after selling the service or the product. According to Page and Baines (2008) marketing is considered a strategy conducted by firms in order to improve both the market share and profitability ratio. Therefore, organizational marketing departments try to employ some of strategies to promote its products whether in the local or the international markets. However, these marketing strategies must be customized according to the geographical areas and the demographics of the target customers in order to attract customers and increase the sales performance of the company. Company Overview United Media Services Company has its own services in publishing and advertising monthly magazines and annual outlets during various occasions...
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...CHAPTER 1: INTRODUCTION 1.1 Background Of Study E-Commerce is one of the very concepts growing in the internet world. Use of this system can actually benefit many parties such as consumer, manufacturer or the retailer. The concept of online shopping provides many facilities and advantages compared with the conventional concept of shopping. A part transaction process can be faster, the internet has provided nearly all goods usually sold complete. Nowadays, the development in Information Technology is rapidly growth. Information technology has proven capable of integrating every detail of information that previously seemed impossible was achieved, as the speed of information, efficiency and effectiveness. Information technology is widely used as a website for selling product online, where the product can be accessed throughout the world. Accordingly, the development of information technology through the concept of e-commerce has changed the business environment more conducive to force us to dominate the field more quickly. Rapid development in information technology, especially in the development of the Internet has led to the extensive use of electronic in the daily business such as e-commerce, e-government and e-commerce as well. E-mail and the internet site are the most important component of e-commerce. While the growing importance of the Web 2.0 and the effects on consumers and organisations are issues frequently making headlines and increasingly attracting academic...
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... of interactive media such as online services and the World Wide Web has taken many consumer marketers by surprise. While some marketers are still wondering what to do and how to do it, others are moving forward – but oƒten with mixed success. HE RAPID DEVELOPMENT Our recent analysis of 95 Fortune 500 consumer marketing companies with product or service-related Web sites reveals that consumer marketers fall far short of leveraging the full capabilities of interactive media. While over 90 percent of all the digital marketing applications examined provided product or service information and featured basic e-mail capabilities, only about half oƒfered links to other sites and non-product-related content, and fewer than half provided any sort of interactive content, such as a game or a diagnostic requiring some user input. Most revealingly, only a handful of the examined sites made an eƒfort to seriously collect information about their users, and fewer than 5 percent provided an opportunity to allow user-to-user communications, a unique – and one of the most popular – characteristics of interactive media. Alexa Kierzkowski, Shayne McQuade, Robert Waitman, and Michael Zeisser are consultants in McKinsey’s New York oƒfice. Copyright © 1996 McKinsey & Company. All rights reserved. THE McKINSEY QUARTERLY 1996 NUMBER 3 5 MARKETING TO THE DIGITAL CONSUMER Most consumer marketers therefore still approach interactive media through the static, one-way, mass-market broadcast...
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...Statement of the problem How can Look-Look market research industry keep the phase on learning as much about the needs, wants, and culture of the youth, anticipate where its heading and remain on the cutting edge by means of technology. Background of the problem The challenge is that market preferences for this segment of the population change rapidly, sometimes in a matter of days and weeks. This makes it difficult for marketers to target this age group. The young people themselves were not given a very large part to play in the market research process, despite the fact that they are in the best option to give detailed, accurate information on youth trends. In responding to this situation how can Look-Look market research industry keep the phase on learning as much about the needs, wants, and culture of the youth, anticipate where its heading and remain on the cutting edge by means of technology. Objectives To look into encountered challenges facing by Look-Look marketing research. To look into a depth of view of how we can cope with the strengths, weaknesses, opportunity, and threats in a market research industry. To analyze and understand what market research solutions can be made and turn them into actions. SWOT analysis | |Strengths |Weaknesses | | | | ...
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...home to some of the world’s fastest-growing and biggest online retailing companies according to ‘Internet Retailer’s newly published 2015 Asia 500’. Many of the uncovered trends in the research are steered by the younger generation, giving suggestions that the progress towards online shopping in general, the shift to shopping on mobile devices, and a preference to be personally addressed by marketers are likely to intensify. Between the age of 18 to 29 year olds, 53% of them prefers to shop online rather than offline(West, 2014). Technology is growing day by day and people, include people in Asia rely on electronic devices due to it’s convenience, almost everything an individual does needs a computerized object for assistance. Asia has a small impact on the declining of hypermarkets, it is seen that the move towards e-commerce and the increasing the trend of small-located outlets shows the move towards convenience(Writer, 2015), just how the people like it. According to the articles of Strategy&, the retail companies understands although there is a development of e-commerce, it has become very difficult to differentiate online and offline sales. There are 2 strategic challenge the retail industry is facing in the Asia Pacific. First, logistics, logistics is the key element to provide the required customer service but for e-commerce players it remains one of the main challenges. As most...
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...created by Facebook serves as a global meeting place. With its popularity and large database of users, the free application has made life easier for its users. People can take advantage of the meetings to make their announcements such as emergencies or celebrations with assurance that they will reach a lot of people within a short time. This is a reliable marketing platform for entrepreneurs, marketers, celebrities and politicians. Facebook also offers mini-blogging features, saving the cost of dedicating a whole website to share ideas and products. The users create or join groups and pages where they meet people who share similar interests. Despite its success in connecting people globally, Facebook, like any other site, has been facing user privacy and security concerns. However, with regard to privacy, this should not be a big challenge. Facebook, like any other social site, is user driven, meaning that the user is able to control information flow in his/her profile by using the privacy and security features. The user, therefore, is the one who decides what to upload to the internet and what to keep private. Users are always requested not to share important private information not only in Facebook, but in other...
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...MARKETING MANAGEMENT II REPORT ON “MARKETING CHALLENGES OF INDIA” Submitted to Prof.-S. Anant Ram Submitted bySayona Maitra (2012287) Shafique Gajdhar(2012289) Satakshi Rani(2012276) Shubham Saxena(2012303) Suneet Shome(2012315) Sunil Gupta(2012316) Word Count 6909 Page Count 46 Group no. 8 1 Contents The marketing challenges in India can be 1. Cultural diversity: 2. Differences in purchasing power of consumers in India 3. The layer of Westernization 4. Considering the psychographics and cultural nuances of consumer segments: 5. Retailing complexities6. Indian consumers reflect a range of behaviors: 7. Consistent brand association in midst of price war 8. Penetration levels of branded offerings among consumers are extremely low (5) (6) (7) (8) (9) (10) (11) (12) 9. Symbolism is reflected across product categories (symbolizing status or emotions) can be found in several product categories in today's context. It is a challenge for marketers to achieve symbolism for their products in India. (14) 10. The challenge for marketers is to ensure a judicious mix of traditional values and contemporary thinking for such segments. (16) 11. The presence of unorganized sector in several categories has created challenges to marketers at the lower price ranges. (18) 12. illegal duplicates prevalent mainly in Rural and Semi rural markets pose a threat to reputation of the company. 13. High degree of price sensitivity is a strong cultural trait in the Indian mass market...
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...Abstract: Advancement in the internet and information Technology provides several opportunities and different channels for businesses to market to products services. Deploying an effective targeted e-marketing campaigns an important strategic decision for businesses to stay competitive and to increase profitability. The three e-business marketing strategies are: e-commerce website, e-marketing and web services using underlying web technologies including Extensible Markup Language, Simple object Access protocol, Web Services Description Language and Universal Descript on, Discovery and International specification using NuSOAP Web Services Toolkit for PHP, HTML, My SQL, HTTP etc. We evaluate the effectiveness of the web technologies used and recommend further functionalities that can improve speed, performance and security. INTRODUCTION E-marketing can be considered to be equivalent to Internet marketing. Most in the industry would look at it this way. However, E-marketing is sometimes considered to have a broader scope since it refers to digital media such as web, e-mail and wireless media, but also includes management of digital customer data and electronic customer relationship management systems (E-CRM systems). Extending these channels to include electronic marketing or e-marketing activities requires proper planning and effective implementation. Small business face more challenges than large business when deploying offline marketing activities due to limited resources...
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