...available to market managers is what McCarthy classified as the Marketing mix. The Marketing mix consists of the four P’s, which are Product, Price, Place and Promotion. Use of the Marketing Mix will aid market managers in getting the right product at the right price, in the right place, during the right time. Consumers see products as complex bundles of benefits that satisfy their needs. When developing products, marketers first must identify the core customer value that consumers seek from the product (Armstrong & Kotler, pp. 210, 2011). Product Mix Product mix is a set of products or services a business provides for its customers. The product mix can be similar in substance or totally different. For example, Proctor & Gamble has a wide selection product mix. They sell items that are similar such as dish washing detergent and dishing washing liquid. Proctor & Gamble also sell products that are vastly different such as Pepto Bismol and women’s facial make up. Different product mixes make up the product lines. Proctor & gamble have many product lines ranging from Household goods to personal care products. The first P representing the Product has to be marketed to the right people. A Market manager must know and understand his product. Studying the product allows the market manager to target a specific group of potential customers. Studying the product also allows a market manager to recognize new uses of the product for new markets. Price Mix PRICE MIX is the...
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...services to the customers it is targeting. The action plan is called the marketing mix. The marketing mix is one of the biggest and most critical decisions that a company will make. A bad marketing mix can result in poor performance and the potential for financial losses. The marketing mix was defined by McCarthy forty years ago as the set of marketing tools that a firm uses to pursue its marketing objectives or goals (Kotler and Keller, 2006). The marketing mix is then broken down into four distinct categories. These categories are called the four P’s or product, price, place, and promotion. The goal of the four P’s will hopefully be the aim of attracting and retaining the customers or target market that a company has identified. All four P’s of the marketing mix are essential and are interrelated (Perreault and McCarthy, 2005). In order for a company to successfully implement a marketing mix, a careful and well researched market plan needs to be generated. The market plan should include a SWOT analysis. The SWOT analysis is an evaluation of a company’s strengths, weaknesses, opportunities, and threats. The SWOT analysis can help to identify the areas that a company can use to take advantage of and to stay clean of any roadblocks that might hinder a successful marketing mix. After an organization studies the elements of the SWOT analysis, the business will be seen more clearly, and the marketing mix will be more focused going forward (Davids and Newcomb, 2006). The four elements...
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...individuals. Marketing Mix People Within the Lidl’s marketing mix ‘people’ are directly linked to the business and target markets, extensive research can uncover if there are enough individuals whom hold a demand for particular services and products. Hence why Lidl ensure their employees are effectively trained to their deliver products and services, it is a critical part within marketing by means of customer services, support desk, programmers and so forth. By ensuring their employees hold a passion and confidence in the brand Lidl are able to run more efficiently as they will perform to the best of their abilities with more chance of providing candid feedback being their own input concerning business growth. Process Processes and systems within Lidl can affect services and or products administration so ensuring there is a bespoken process in place minimises costs. Various procedures such as distribution, sales and pay system steps ensure Lidl are running effectively, although there will be possible enhancements required down the line to maximise costs and profits. By ensuring that all processes are straight forward and easy to use is a vital element of Lidl’s marketing mix. Physical evidence Physical evidence within Lidl provides a viewpoint on products/services perception whilst indicating whether the deliverance has been effective. For instance individuals understand a well-known brands presence within the marketplace ...as they are market leaders with established...
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...The marketing mix for the company will consist of four main factors: product, price, promotion and placement. Understanding this marketing mix should place the company in a prime position to excel. What the company has to do is research other companies should as the company that we are starting and gather and understand what has worked for them and what hasn’t. With the research that we want to do we shouldn’t fall to the same mistakes the companies before us fell too. Our research should be more like a market survey in which we can determine where the company will do better and also give us other determining factors for an overall successful company. The company will for example say we have 1 million dollars for the marketing mix that is available. The marketing team will determine how much of the money each section will get. The company will also look at various companies that are in the same market as ours, and see if there are something’s that can be changed so that our products aren’t the same. Product modification is a very important part of starting the marketing mix. Before the company can grow we need to have a great product that will be useful for many people, weather it be personal or commercial use. The company wants our tools to be used from the everyday man/woman who wants to use tools at home, to companies who have tools available for their employees to big company tools. The tools we want to create have to be for everyone and anyone, we want to expand...
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...Wal-Mart is a multibillion dollar industry. They have multiple kinds of stores from super center to market stores (which are strictly grocery stores) to “regular” stores that don’t sell groceries to selling things in bulk and wholesale at their sister store Sam’s. Wal-Mart has 11,000 stores in 27 countries; they employ over 2.2 million associates worldwide. Wal-Mart stands by their marketing strategy of Every Day Low Price and they strive to keep that as a main focus to become stronger. Wal-Mart main basis is to be a convenient store and a one stop shop. So the customer that comes in for one thing remembers that they need another and might walk out the store with more than they initially came in for in the first place. Wal-Mart continues to push through the technological world by allowing their customers to be able to shop online for many products via the internet or even through their mobile app. Customers have the ability to search for items that may not be in the store and have them shipped from the online warehouse to a retail store through their site to store pick up process. This is something that Wal-Mart pioneered for easier access to things that aren’t always in the store but that customers can still gain access to without again have to look somewhere else. Wal-Mart uses many vendors and their own Competitive Advantage Managers to set modular section of a product across the board. Wal-Mart’s goal is to make all their stores unique in their own right but...
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...the operations of British soapmaker Lever Brothers and Dutch margarine producer Margarine Unie, a merger as palm oil was a major raw material for both margarines and soaps and could be imported more efficiently in larger quantities. In the 1930s the Unilever business grew and new ventures were launched in Latin America. In 1972 Unilever purchased A&W Restaurants' Canadian division but sold its shares through a management buyout to former A&W Food Services of Canada CEO Jefferson J. Mooney in July 1996.[3] By 1980 soap and edible fats contributed just 40% of profits, compared with an original 90%. In 1984 the company bought the brand Brooke Bond (maker of PG Tips tea). In 1987 Unilever strengthened its position in the world skin care market by acquiring Chesebrough-Ponds, the maker of Ragú, Pond's, Aqua-Net, Cutex Nail Polish, and Vaseline. In 1989 Unilever bought Calvin Klein Cosmetics, Fabergé, and Elizabeth Arden, but the latter was later sold (in 2000) to FFI Fragrances.[4] Product...
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...of mobility People who decide just to use a car not buy one The car buyers who need financing and insurance Price Volkswagen has consistently acted with a premium pricing strategy. Their products typically have a high price, on average 10 percent higher than competitors (reference: consumer report by Volkswagen, 2012); however, the return is more upscale driving and ownership experience. In recent years, their pricing strategy has decreased to only 5 percent higher (reference: the interview with the PR president). This decrease in price was due in fact to the belief among consumers that Volkswagen passenger cars are too expensive for the quality delivered. Their premium pricing strategy has caused them to lose some market share to competitor brands. This was not a substantial problem in the past,...
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...manufacturing team. In order to launch the “Bake Right” product line the company need to acquire new equipment and hire additional personnel. Different scenarios have been evaluated and forecast shows a steady business growth during the next three years. Introduction of the “Bake Right “product line to the market will require additional efforts on the manufacturing floor and possibly adding weekend shift to meet the expected demand. The Engineering department has suggested a project to automate all Dolly Madison Bakery products. This manufacturing line will perform all operations needed to produce Dolly Madison Baker products from beginning to finish. Automated operations will include: 1. Automated mixers – These mixers are capable to mix different recipes and will have preprogrammed weight checkers with automated feeders. 2. Screw driven extruders machines – Once the mixes are ready will fed the extruders machine tha will inject the mix into preformed trays. 3. Heat tunnel – the trays with the recently extruded mix will travel along a conveyor. This conveyor will be driven through a Heat Tunnel were the mix will be exposed to enough heat during a predetermined time to bake the mix and convert it onto the final product. 4. Cooling tunnel - Once the product has been baked it will pass through a cooling tunnel where the product will come to room temperature and will be suitable for packaging. 5. Off loading robot arm – After the product has reached right temperature a robot arm...
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...While concrete has been around in one form or another since before Roman times, in this era the cement was usually mixed by hand using a shovel or spade. However in the late 1920 when the automobile industry started to become popular so did the portable cement mixer or concrete mixer as it is more commonly know in the construction industry. A cement mixer is device often used in the construction industry to produce a concrete substance, this is done by adding compound components such as the concrete powder, mortar and water together with the aid of a cement mixer to mix and fold these components to form what is known as a concrete substance which may be used for the application of bricklaying, foot paths or drive ways. A cement mixer is often used in the construction industry in large quantities however these devices can also be used by DIY householders due to the variety of mixers currently available in today’s market. All mixers leverage power, torque and weight distribution to get the concrete to the site, but getting it out of the truck is where you'll see differences in truck designs. Most of the mixer fleet, especially older batch model trucks use a simple tip-and-pour method to get the concrete out of the mixer. A chute attaches to a port and the concrete pours out of the mixer to the project. Usually, the driver of the truck operates the machinery and aims the chute. Many transit mixers are coupled to a hydraulic lift bed that can tip up the drum, similar to a dump truck...
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...Case Report: Kristen's Cookie company 1. It takes 26 minutes to complete a rush order, that is, the addition of the time it takes to complete each step: 6 (wash and mix) + 2 (spoon) + 10 (load and bake) + 5 (unload and cool) + 2 (pack) + 1 (pay) = 26. Process flow diagram of the cookie-making process: Me Mixer Me Spoon and tray Roommate Oven and tray Oven and tray INPUT OUTPUT Roommate Oven and tray Tray Roommate Roommate Remarks: Since it does not consume any time, the first step, that is to take an order, is here ignored. Inventory is not kept at any time as the cookie dough is continuously being processed by the dozen to fit the bottleneck's capacity and only produce fresh cookies according to placed orders. 2. We assume the following: The minimum amount of cookies per order is one dozen cookies (the case states that the process produces “cookies by the dozen”). There are at least two trays and spoons, as the case mentions “cookie trays” and “spoons” Since the amount of time necessary to unload the oven is considered “negligeable”, it can be done during the same minute used to load the next batch. In this view, the first order takes 26 minutes but each following batch only requires an additional 10 minutes (see Gantt chart 1 attached). Capacity of resources (dozen cookies per hour): | Me | Roommate | Mixer (1) | Trays (2) | Spoons (2) | Oven (1) | Cycle time | 8mns/unit | 4mns/unit...
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...FLOUR,WHEAT,BREAD SHORTENING,SOFTENED BUTTER VANILLA GLAZE Weight Measure Issue 6-3/4 oz 1 lbs 1-5/8 lbs 1-1/4 lbs 1-1/8 lbs 1-3/4 oz 1-7/8 oz 7-7/8 lbs 14-1/2 oz 8 oz 1 cup 2 cup 3 cup 2-1/4 cup 2-5/8 cup 3/4 cup 3 tbsp 1 gal 2-1/2 qts 2 cup 1 cup 2-3/8 cup Method 1 Sprinkle yeast over water. DO NOT USE TEMPERATURES ABOVE 110 F. Mix well. Let stand 5 minutes; stir. Set aside for use in Step 3. Place water, eggs, sugar, milk, and salt in mixer bowl. Using dough hook, mix at low speed just until blended. Add flour and yeast solution. Mix at low speed 1 minute or until all flour mixture is incorporated into liquid. Add shortening; mix at low speed 1 minute. Continue mixing at medium speed 10 minutes or until dough is smooth and elastic. Dough temperature should be between 78 F. to 82 F. FERMENT: Cover. Set in a warm place (80 F.) about 1-1/2 hours or until double in bulk. PUNCH: Divide dough into 3 pieces, 4 lb 5 oz each; shape into a rectangular piece. Let rest 10 to 20 minutes. MAKE-UP: Roll each 4 lb 5 oz piece of dough into a long rope of uniform diameter. (If using D 036 01, Sweet Dough Mix, use 4 lb 2 oz pieces.) Slice into 34 pieces, weighing 1-3/4 to 2 oz each. Shape into balls by rolling with a circular motion. Place on lightly greased sheet pans in rows 6 by 9. Melt butter or margarine. Brush 1/2 cup on rolls in each pan. PROOF: At 90 F. to 100 F. until double in bulk. BAKE: At 375 F. for 20 to 25 minutes or until golden brown or...
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... your cookies will be completely fresh. You will not bake any cookies before receiving the order; therefore, the buyer will be getting cookies that are literally hot out of the oven. Second, like many Boston-based area ice-cream shops, you will have a variety of ingredients available to add to the basic dough, including chocolate chips, M&M’s, chopped Heath bars, coconut, walnuts, and raisins. Buyers will telephone in their orders and specify which of these ingredients they want in their cookies. You will guarantee completely fresh cookies. In short, you will have the freshest, most exotic cookies anywhere, available right on campus. The Production Process Baking cookies is simple: place all the ingredients in a mixing bowl and mix them; spoon the cookie dough onto a tray; put the cookies into the oven; bake them; take the tray of cookies out of the 1 This case is intended to be used with “Kristen’s Cookie Company (A2),” HBS No. 686-094....
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...Kristen’s Cookie 1. How long does it take to fill a rush order [from mix and spoon, Load oven, bake, cool pack, and receive payment] ? (For orders of one dozen, and for orders of two dozens-same ingredients.) Answer: (a) for orders of one dozen 26 minutes (b) for orders of two dozens 36 minutes 2. For orders of one dozen, how many orders can you fill in a night? Assuming 4 hours per night - every order has a different recipe (so it does not add value to put pre-mixed ingredients ‘on stock’ during the night. - There are enough cookie trays (only the oven is a bottleneck) - The first step requires 6 minutes of attention, cleaning and loading the mixing equipment Capacity limited by throughput oven: o 4 hours = 240 minutes o Preparation before oven first batch - 8 minutes o Handling after last oven - 8 minutes (potentially one minute can be saved on the last 8 minutes, by preparing the invoice during the cooling time, but it has no impact on the total number of batches) - Remaining time for oven processes = 224 minutes Answer: 22 orders if me and my roommate stick to the described processes 3. (A) Given Kristen’s Cookie wants to maximize the revenue, do you need to employ your roommate if all orders are one-dozen orders(assuming orders do not have the same ingredient)? Answer: Need / No need Why? The takt time of the line is determined by the oven (bottleneck operation, excluding start up and close...
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...thickened gel, or slime. Up until I did the research, I figured that glue was already a bit like slime only much thinner. And the same way you would add flour to cookie dough that is too sticky or thin, adding borax would make it clump up more. The very first time I attempted making slime, I mixed less than half of a teaspoon of Borax into a teaspoon of glue, then added water. It was unsuccessful. It was too slippery and you could feel the Borax in it, meaning it didn’t mix well together. The second time I attempted, I did the same thing only added the glue into the Borax, which also didn’t mix very well. So I tried my 3rd and 4th trial a little differently by mixing water and glue the first time, slowing add Borax looking for the right amount. And mixing water and Borax adding small amounts of glue at a time the second time. Neither of them worked either. I think I had the right idea with adding water to only one of the ingredients at a time, seeing how it didn’t mix well… I thought of a way to make it mix in better. They were both close but no cigar. All of my slime attempts were a bit off. A bit too gritty, a bit too liquidy, not sticky enough, not bouncy enough. It all smelled like glue and made a mess of my hands. Eventually after the 5th failed attempt of randomly mixing all ingredients in different parts, amounts & orders… I just stuck...
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...How to Make the Perfect Cake! Cake: Strawberry Decadence Cake Mix Ingredients: 2 1/4 cups Cake flour 1 1/2 cups Sugar 3 teaspoons Baking powder 1 teaspoon Salt 1/3 cup Vegetable oil 1 cup Milk 1 1/2 teaspoons Vanilla Extract 2 Egg whites Whisk Other Ingredients: 20 ounces of Strawberries Cool Whip 2 9 x 13-inch round pan Wooden Spoon Mixer Pam 2 Mixing Bowl There are four steps that one must follow exactly in order to make a perfect cake: 1. Preparation 2. The Cake Mix 3. Putting the Cake Together 4. Enjoy Step 1: Preparation The most important part of baking a cake is the preparation that must be done before you start. First get out all the ingredients needed to make the cake and separate the cake mix ingredients from the other ingredients that you will need later on, except the two mixing bowls and the mixer, which will be needed to make the cake mix. Then you need to use Pam to spray the two 9 x 13 inch round pans, so that the cake won’t stick and can be dumped from the pan once it has been baked. Finally pre-heat the oven to 350F. Step 2: The Cake Mix Now it is time to make the cake mix that will be used to make the cake. (This is the stuff that amateurs get from the cake box at the store) Jesse Long Tuesday, April 24, 2012 10:26:12 AM ET 04:0c:ce:d2:70:d6 In the mixing bowl add the 2 1/4 cups of flour, 1 cup of sugar, 3 teaspoons of baking powder, 1 teaspoon of salt, 1/3 cup of vegetable oil, 1/2 a cup of milk, and the 1 1/2 teaspoons of vanilla extract...
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