Premium Essay

Marketing 301

In: English and Literature

Submitted By iqra
Words 262
Pages 2
There is a world of marketing that is build on the way consumers respond to a certain product or the way it is marketed. It comes as no surprise, then, that companies and marketing firms look at social patterns and consumer psychology to understand better how and what affects consumers to the greatest degree and what ushers them to go out an purchase whatever they end up spending their money on.
Another agreed upon fact is that one of the most important contributing factors to consumer decision making is the culture that they have internalized as what defines them. Fact of the matter is that consumers are more affected by their culture than they care to admit. Other factors include location, peer group influence, income group etc. However, all these factors determine what one needs or wants to spend money on. Culture is something that subconsciously makes you need or want a particular thing. A colder location indicates to a consumer the need or want for heavy garments that will make them warm. Their culture automatically defines what that garment is going to look like. The women in Canada will wear jeans, leggings and tshirts, while women in India will be dressed in their traditional saaris. Therefore, all over the world, some indications of what the consumer wants or needs can be the same, however the purchase descisions all over the world are not the same. They vary because the culture varies, and since the culture varies, the consumers response to the same demands vary as well.
A McDonalds in China...

Similar Documents

Premium Essay

Mkt201

...[pic] MARKETING 201: PRINCIPLES OF MARKETING Instructor: Derick Davis, PhD Kosar/Epstein Faculty Office Wing, Office: KE-515 Phone Office: 305.284.6145 E-mail: ddavis@bus.miami.edu Section O: Tuesday and Thursday 9:30-10:45 Stubblefield Classroom 502 Section Q: Tuesday and Thursday 12:30-1:45 Dooley Memorial Classroom 200 Section R: Tuesday and Thursday 2:00-3:15 Dooley Memorial Classroom 200 Office hours: Tuesday and Thursday 3:30-5:00 Friday 9:00 – 11:00, or by appointment Please feel free to ask questions anytime. Email is the quickest way to communicate with me. However, it is unlikely I’ll respond after 8:00 P.M. REQUIRED MATERIAL A text will be used in class. The text is Marketing, by Grewal and Levy, 4th Edition, McGraw-Hill, 2013 is available in the bookstore (ISBN 978-0-07-802900-4) at a price of $154.00 for a new book. It is highly recommended that you read the assigned reading before the class in which it will be discussed. Additionally, chapter slides and/or outlines are available on the course website. It is recommended you review and print these, bringing them to class to help you with note-taking. We will be discussing three HBR cases. You have to download them from https://cb.hbsp.harvard.edu/cbmp/access/28012946 They will be used for individual assignments and also discussed in class. The cost is around $12.00. We may also use several articles throughout this course (available on Blackboard) under Course......

Words: 6171 - Pages: 25

Premium Essay

Happines for Coaches for Emplyees

...Department of International Business (2013) YEAR 1. Semester I Semester II |Course Code |Cour| | |CR|ECTS | | | | |se | | |ED| | | | | |Name| | |IT| | | | YEAR 2 Semester III Semester IV |Course Code |Cour| | |CR|ECTS | | | | |se | | |ED| | | | | |Name| | |IT| | | | YEAR 3. Semester V Semester VI |Course Code |Cour| | |CR|ECTS | | | | |se | ......

Words: 283 - Pages: 2

Premium Essay

Bachelor

...Section ARC-2 (Nadine) Section ARC-3 (Nadine) Section BUS-1 (Dima) Section BUS-2 (Dima) Section BUS-3(Dima) Section BUS-4(Rola) Section BUS-5(Rola) Section COMM 1-(Rama) Section COMM 2-(Rama) Section ENG 2-(Rola) Section ENG 3-(Rola) Section ENV 1-(Carlee) B2-03 B2-03 B2-03 D3-11 D3-11 D3-07 D3-07 D2-07 B2-10 B2-10 D2-07 D2-07 B2-03 MTH 002 Pre-Calculus Section 1(Campbell) Section 2(Campbell) B1-07 B1-08 D3-03 GED 196 Communication Skills in Arabic 1 Section A-1(Dalal Halalat) Section A-2(Sherif Sharkawi) Section A-3(Dalal Halalat) Section A-4(Dalal Halalat) Section E-1(Sherif Sharkawi) Section E-2(Sherif Sharkawi) B2-10/B2-01 D3-07/D2-04 B2-03/B2-01 B2-07/B2-01 D3-11/ D2-04 D3-07/D3-11 D2-07/ D2-04 D2-07/ D2-04 BUS 111 Marketing of Services GED 132 MGT 405 MTH 001 GED 252 Science and Technology in Society Business Ethics and Social Responsibility College Algebra Critical Thinking Section E-1(Mustafa Tajdin) B2-03 B1-11 B2-10 GED 195 SWS 320 D3-07 D3-07 D3-07 D2-07 D2-07 D2-07 Section E-3(Sherif Sharkawi) Section E-4(Sherif Sharkawi) Descriptive Geometry(SA) Operational Research B1-08 B1-08 7th December 2013 LNG 173 Professional Communication Skills Section ARC & ENG 1-(Henrick) Section BUS 1-(Henrick) Section BUS-2(Henrick) Section ARC 1(Rama) Section ENV 1(Rama) B3-07/B3-08 B3-01/B3-08 B3-08/ B2-07 B1-07 B1-08 Section E-2(Mustafa Tajdin) Section E-3(Mustafa Tajdin) Section A-1(Rawa) Section A-2(Rawa) Section......

Words: 2527 - Pages: 11

Premium Essay

Mall Strategies

...Title A study of marketing strategy of shopping centre for customer retention in Hong Kong Author(s) Chu, Ka-wai; Citation Issue Date 2009 URL http://hdl.handle.net/10722/128605 Rights The author retains all proprietary rights, (such as patent rights) and the right to use in future works. A STUDY OF MARKETING STRATEGY OF SHOPPING CENTRE FOR CUSTOMER RETENTION IN HONG KONG by CHU KA WAI DISSERTATION Submitted in partial fulfillment of the requirements for the degree of Master of Housing Management The University of Hong Kong December 2009 DECLARATION I declare that this dissertation, entitled A study of marketing strategy of shopping centre for customer retention in Hong Kong, represents my own work, except where due acknowledgement is made, and that is has not been previously included in a thesis, dissertation or report submitted to this University or other institution for a degree, diploma or other qualification. CHU KA WAI ii ACKNOWLEDGEMENT I wish to express my sincere gratitude to my supervisor, Dr. Eddie Hui, for his professional guidance and support. He has provided many valuable advices and opinions during my preparation of this research paper. Moreover, I would like to thank my interviewees for their valuable time to fill in the questionnaire. They made a lot of contributions in my data collection. I also want to take this opportunity to thank my friends, family and colleagues for their......

Words: 18240 - Pages: 73

Premium Essay

Marketing Mix

...Alyssa Ferguson MK 301 11/8/2012 In developing a marketing strategy, the four P's of marketing must be addressed. These are product, price, placement, and promotion. These all work together to help reach maximum potential in a marketing strategy. Product is anything that is marketable. This can be a service, physical item or an idea. It is important to define what the product is in order to define the target market. Without a definite product, no other part of the marketing strategy can be implemented. Price does play an important part in the marketing mix, but it should not rule the business. Price should be in line with a customer's perception of value. Price must also match the quality of the product being offered. Knowing what the breakeven point is also is important. Without this information, the price may not be enough to cover the costs of selling the product. Placement and distribution is the third element of the marketing mix. This includes the physical placement such as location, inventory, transport, and coverage. It also covers the channels used to market the product. Channels can change over time as businesses grow and evolve. Promotion is the final element of the marketing mix. Promotion includes the communication of information about the product. The goal is to create a positive customer response. Marketing communication includes advertising, promotions, public relations, publicity, sales force or team, and promotional strategy. Furthermore...

Words: 555 - Pages: 3

Premium Essay

Case Study

...Confirming Pages CONTENTS PREFACE xv PART 1 CHAPTER 1 GLOBAL MARKETING ENVIRONMENTS 1 Understanding Global Markets and Marketing 2 markets are becoming global 2 globalization: the world is becoming smaller 3 globalization and global marketing 4 Globalization: Opportunity or Threat? The Global Marketing Approach 6 6 global marketing and global markets 7 the cage distance framework 7 domestic and global marketing compared 8 Geographic or Spatial Distance 10 Psychic/Cultural Distance 12 The EPRG Framework 13 Developing Global Marketing Strategy 14 The Standardization versus Localization–Adaptation School 14 Levitt and the Globalization of Marketing 16 Standardization versus Mass Customization 17 Managing the Firm’s Value Chain 18 Global Value Chain Configuration 19 Integrating the Firm’s Competitive Strategy 20 Global Competition 20 a global marketing management framework Global Marketing Performance 22 Global Vision—The World Is My Oyster CASE 1-1 CASE 1-2 CHAPTER 2 21 23 A Tortuous Road Ahead for Proton of Malaysia 26 Dabur—Developing Values in an Emerging Economy Through Value Chain and Product Line 31 Assessing the Global Marketing Environment—The Global Economy and Technology 36 the global economy 37 Economic Growth and World Trade 37 Who Are the United States’ Major Customers? 38 High Tech Products Lead World Trade 40 Characteristics of High Technology Markets 42 Technology and Global...

Words: 1893 - Pages: 8

Premium Essay

Arrow Flipper

...MKT 301 Marketing Plan: Integrated Marketing Communications (IMC) Template Project | Action Item Name | | Action Item | Arrow sign flipper advertisement during early evening meals, near the restaurant. | Description | I would hire a couple of people to hold and flip the Arrow signs for Southern Fish Fry and Chicken, The sign would simply have the name of the Restaurant, with a small picture of a Catfish and Chicken. The sign would have the same on both sides, and I would place two people near the restaurant entry off the street so they could be seen and people would be directed towards the restaurant. I would have them twirl, flip and any other kind of tricks they know to do with the arrow sign. I could place two people at the same time during the early evening’s time of the opening, up through the evening commute time. | Objective | The Idea of the Arrow sign flipper is to get the attention of people who are driving by, the show they put on with the sign attracts them and then they will read the sign. This will put the idea of the restaurant in their mind, kind of sublime advertising. | Target Market | This advertisement style would be for the daily commuters, whether they are heading home from work or from school or running taking care of business, it will attract them all. | Budget | The pricing of the signs are pretty good, can get them made for $50.00 so that would be $100.00 for two signs, and then pay for the sign flippers, pay them $10.00 an...

Words: 309 - Pages: 2

Premium Essay

Cbp Electronic International Commerce System

...CBP Electronic International Commerce System 1.0 Executive Summary In 2008, “U.S. Customs and Border Protection (CBP) collects over $30 billion annually, the second largest revenue generator for the U.S. Government” ("Overview of revenue:," 2008). Believe it or not, the U.S. government is behind the times in terms of technology when it comes to commercial trade and the potential for revenue has grown exponentially. Many partakers in this industry are greatly affected by this lack of updated technology and would jump at the opportunity to invest into a new program that would allow for more efficiency. The companies participating in commercial international trade need one source that contains all import and customs clearance information for any commodity. The government has agreed to invest, has had the programs/software built, and has made the technology available to the public. This software is the single most important step forward in efficiency for U.S. international commerce. Companies that would subscribe to such a service provided by CBP include self-sufficient importers, air, vessel or vehicle carriers, bonded warehouses, and Customs brokers. These teams work in conjunction to complete all of the regulations of international trade that U.S. Customs requires, while dealing with the apparent out of date technology provided and therefore are the potential customers. After taking the step to invest in technology that would allow their company to interact......

Words: 4087 - Pages: 17

Premium Essay

Cosmetics

...A Study on Purchase Pattern of Cosmetics among Consumers in Kerala Dr. Vinith Kumar Nair* Dr. Prakash Pillai R* Introduction Understanding behaviour of consumers is a key to the success of business organizations. Marketing personnel are constantly analyzing the patterns of buying behaviour and purchase decisions to predict the future trends. Consumer behaviour can be explained as the analysis of how, when, what and why people buy. Consumer behavior can be understood as: "The decision process and physical activity individuals engage in when evaluating, acquiring, using, or disposing of goods and services." (Loudon and Della Bitta, 1980). Nowadays, this phenomenon, can also be illustrated in the following way: "activities people undertake when obtaining, consuming, and disposing of products and services" (Blakwell, Minard and Engel, 2001). A study by Voss and Parasuraman (2003) suggests that the purchase preference is primarily determined by price than quality during pre-purchase evaluation. Given explicit quality information, price had no effect on pre-purchase or post-consumption quality perceptions. Instead, post consumption quality evaluations had a favorable impact on price evaluations. Another study by Chernev (1997) analyzed the effect of common features on brand choice and the moderating role of attribute importance. It is argued that when brand attributes differ in importance, with the best value on the most important attribute, thus further polarizing brands’ choice......

Words: 8126 - Pages: 33

Premium Essay

Ikea

...IKEA IKEA was found in 1943 and it is a well-known brand with more than 301 stores spread over 25 countries. IKEA has multiple competitive advantages. There low cost structure still has kept them profitable against their competitors who are struggling. While IKEA maintains a low cost company they still offer customers a different shopping experience. Right when you enter the doors they give their customers pencils, paper, and measuring tape. This is a great approach for IKEA to set them different from their competitors. They also offer show rooms so the customer can get a feel of the display while not getting bothered by sales people. “Customers can pick and choose among the different options of accessories that they would like to use with furniture” (Ferrell & Hartline, 2011, p. 496). Furthermore, if customers purchased a big item that can’t fit in their car IKEA offers them to rent car racks. This is showing operational excellence. IKEA offers child-care services so that parents can go off shopping while not being bothered by their kids. I believe this is a great marketing strategy because it is creative and their competition do not offer child care services. Even in some IKEA stores they have restaurants so people can take a break from shopping and get a bite to eat then return back shopping. This is strategy will generate profits for IKEA because they will spend longer shopping and purchasing products because they do not have to leave and go eat. They also......

Words: 678 - Pages: 3

Premium Essay

Pricing of Industrial Products and Services

...measure by which industrial customers judge the value of an offering and it strongly impacts brand selection among competing alternatives”. (Shipley and Jobber (2001, p. 301). Pricing is a process where a business firm sets the price at which it will sell its products and services in such a way that it can generate profit as well as satisfy the customer, and it may be a part of the business’s marketing plan. Price management is a very critical element in marketing and competitive strategy and a key determinant of performance. Among different pricing strategies, marketing managers can choose their preferred type. The overall objective of pricing is to increase sales and profits globally (Kigan, 2001).Global Pricing subject can be fully integrated and considered into the product design process (Kigan, 2001) As the ultimate aim of the industry is to earn profits so pricing of industrial products and services should be based on desire of the customer. A company set the price for the first time for the following items i.e. when a new item is manufactured or a new product comes from normally when an item is directed to a new distribution channel, or it is offered to a new geographic area. Companies need to decide the positions of their product in terms of their quality and price. Literature review Research shows marketing scholars have devoted only little effort to pricing theory and practice. This lack of academic research in the field of industrial pricing is also evident......

Words: 935 - Pages: 4

Premium Essay

Mnm3048

...DECLARATION I, the undersigned, hereby declare that this is my own work and personal work, except where the work(s) or publications of others have been acknowledged by means of reference techniques. I have read and understood Tutorial Letter CMNALLE/301/2014 regarding technical and presentation requirements, referencing techniques and plagiarism. Name: Palesa Moatshe Signature: P.Moatshe Student number: 35772085 Date: 2 September 2014 Witness: B. Moatshe PROMOTIONS AND DISTRIBUTION MANAGEMENT TABLE OF CONTENTS PAGE DIRECT MARKETING OBJECTIVES 3 1. To generate leads 3 2. To sell direct 3 3. To generate store traffic 3 4. To manage relationships for future sales 3 5. To inform and keep in touch 4 6. To recognise and reward 4 SOURCES CONSULTED 4 Direct Marketing Objectives There are specific direct marketing objectives which can be relevant to all three main categories, namely, acquisition, retention and financial. The main objectives are the following: 1. To generate leads -This is the key area of expenditure for direct marketing. To achieve this objective, the key consideration is to calculate how many of the leads can actually be handled by the sales force. Calculate the number of leads which can be handled, then estimate the scale of promotion required to produce these numbers bear in mind that like all direct activities, the communication can be......

Words: 961 - Pages: 4

Premium Essay

Quiz 2 for Week 5 Mktg 522

...provide positive feedback to the parent brand and company. | |   | Student Answer: | | product licensing |   | | | brand extensions |   | | | brand architecture |   | | | brand audits |   | | | brand dilutions |   | Instructor Explanation: | Page Ref: 264 | | |   | Points Received: | 6 of 6 |   | Comments: | | | | Question 3. | Question : | (TCO H) When the total market expands, the ________ usually gains the most. | |   | Student Answer: | | market challenger |   | | | market leader |   | | | market follower |   | | | market nicher |   | | | market entrant |   | Instructor Explanation: | Page Ref: 301 | | |   | Points Received: | 6 of 6 |   | Comments: | | | | Question 4. | Question : | (TCO H) A company marketing manager has developed a strategy that will require the organization to erect outposts to protect its weak front-running brands. In this ________ defense, the outposts will be central to the organization's new competitive strategy. | |   | Student Answer: | | position |   | | | flank |   | | | preemptive |   | | | counteroffensive |   | | | mobile |   | Instructor Explanation: | Page Ref: 303 | | |   | Points Received: | 6 of 6...

Words: 517 - Pages: 3

Premium Essay

Legal Handout for Global Business

...Regulation of Product: Is your product a highly regulated product because it is being shipped to a country on the “prohibited list” of countries or because it is dangerous in some way or because it is very sophisticated technology that the U.S. Government wants to protect? 5. Name Check: Have you done a name check with the appropriate government agency to be certain that the business and/or product name you want to use is available? 6. Protection of Intellectual Property Rights and Branding: Have you trademarked, copyrighted or patented (as appropriate) your intellectual property rights in your brand, image, product, trade name, logo, data sheets, promotional and marketing materials, website content, downloadable manuals, ebooks, mp3, software, movies etc. in the US as well as in foreign markets? USTR Special 301 Report regarding countries designated on the Priority Watch List (10 countries) or the Watch List (22 countries) for IP infringement and piracy such as Russian Federation, China, Argentina, Chile, Canada 7. Domain Names, Websites, Email Addresses: Have you registered your...

Words: 698 - Pages: 3

Premium Essay

The Implementation of Effective Organisational Change: Apple Inc.

...The Implementation of Effective Organisational Change: Apple Inc. Simon Karuku Freelancing Table of contents Introduction…………………………………………………………………………………..4 SWOT Analysis ……………………………………...…………………………………… 5 i) Internal environment: Strengths……………………………………………………………..5 Ii) Internal Analysis: Weakness………………………………………………………………..5 iii) External Environment: Opportunities……………………………………………………....6 iv) External Environment: Threats……………………………………………………………..6 PESTL Analysis………………………………………………………………………………...7 i) Political factor analysis……………………………………………………………..7 ii) Economic factor analysis……………………………………………………………8 iii) Social factor analysis………………………………………………………………...8 iv) Technological factor analysis………………………………………………………..9 v) Environmental factor analysis………………………………………………………..9 vi) Legal factor analysis…………………………………………………………………10 Strategies used by Apple…………………………………………………………………………10 i) Diversification…..……………………………………………………………………10 ii) Research and Development…………………………………………………………..11 1. Brand positioning strategy………………………………………………………12 2. Product positioning strategy……………………………………………………..13 3. Pricing strategy…………………………………………………………………..14 Key Principles of Change Management needed by an organization……………………………14 1. Effective leadership……………………………………………………………..15 2. Effective Management…………………………………………………………..15 3. Stakeholder, Ethics and......

Words: 3899 - Pages: 16