...BMK3144 MULTIMEDIA AND MARKETING QUESTION No.1: What the important Internet properties that affect marketing and describe the fundamental changes the Internet has brought to marketing. First of all, we need to know what is internet properties in order for us to further understand the impact it has made towards marketing. In my perspective, internet properties is the features it has against the traditional way of marketing. For instance, the privilege internet has over time which involve faster work process and transaction time, firms pay for only as much as the data storage or server space in terms of cost, global market reach that allows massive exposure or recognition, and so on. Now that we know the definition of internet properties, we can discuss the fundamental changes the internet has brought to marketing.. By having the speciality over time, easy access to information, flexibility, massive market reach, and low cost, internet now is changing the marketing game. Prior to the usage if internet, customers does not have the power to pick and choose the advertisement they see on the television or radio. Instead they are forced with this commercials that will get stuck in their heads and later on affect their buying decisions without even realizing it. After internet happen to us, the power shift to the customers. Now the consumers use the power through the mouse. They control what they want to see or hear. By that, we can agree that the most important internet properties...
Words: 1243 - Pages: 5
...The Marketing Mindset: How to Engage Yours Strategic marketing is at once a business philosophy and a practical discipline of management pervading every function of the organization with a focus on the customer and the world in which they live. It requires clear understanding and articulation of the past and present as well as a forecast of what might happen in the future. Strategic marketing is characteristically “outside-in,” meaning that your attention originates with the customer, not the organization, ultimately helping you to create products, services, and experiences to ensure an ongoing, satisfying relationship between the two. For decades, the four Ps—product, price, place, and promotion—have served as the framework for effective marketing management. The blend of these four variables resulted in a marketing mix to form the basis of an organization’s marketing initiatives. The four Ps are: Product: products and services an organization produces and sells (because it can); Price: the amount charged (to cover costs and make profit); Place: where the organization distributes products or services (because they are the easiest and cheapest places to do so); and Promotion: what the organization says about the product or service (to the masses whenever, wherever, and however they want). This framework evolved some 40 years ago, in an age of consumerism characterized by caveat emptor—let the buyer beware. Today, organizations need to adopt the four...
Words: 899 - Pages: 4
...you are looking for and it is a very inviting website. The one that I believe needs the most improvement is Converge. It didn’t have that welcoming feeling that Info desk did and it just looks like they threw as much info on their home screen as they could and it looks cluttered. It wasn’t easy recognizable what the company offered and you had to search through every link to get what you are looking for. The thing that quickly caught my attention about Info Desk and what made it feel like a community is all of the things they have to offer such as newsletters, alerts, portals and archives. When thinking about what an online community is, this is exactly what comes to mind. They also have social network groups so that people can interact with each other and share thoughts and ideas. 2. When researching the websites for the vertical markets, you can immediately see how much more these websites have to offer than the general business marketplace websites do. The vertical markets are much more involved and pack much more information onto their websites. Both websites offer a community where you can be informed what the company is doing and interact with other users, but the vertical market websites have more detail. Intercontinental Exchange is an energy company that is involved in the New York Stock Exchange which gives you access to their markets, marketing data, technology and services, as well as their energy and interest rates. This is something totally different...
Words: 331 - Pages: 2
...he consumption and production of marketed food are spatially separated. Production is primarily in rural areas while consumption is in urban areas. Agricultural marketing is the process that overcomes this separation, allowing produce to be moved from an area of surplus to one of need. Food reaches the consumer by a complex network, involving production, assembly, sorting, packing, reassembly, distribution and retail stages. In developing countries the linkage between the producer and the retailer is still usually provided by assembly and wholesale markets, where wholesale marketing takes place using a variety of transaction methods. Recent years have seen an expansion of wholesale marketing in E. European and former CIS countries. On the other hand, the growth of supermarkets in many regions has seen the development of direct marketing and a reduced role for wholesale systems. Contents 1 Transaction methods 2 Wholesaling trends 3 Types of wholesale market 4 Representative bodies 5 References 6 Further reading Transaction methods Wholesaling facilitates the economic function of buying and selling (usually termed as "price formation") by allowing the forces of supply and demand to converge to establish a single price for a commodity. The wholesaler may also perform storage and warehousing functions, as well as allowing economies of scale to be obtained in the transportation of produce from farm to market. The people involved in wholesaling...
Words: 1065 - Pages: 5
...MG660 - Chapter 1 Assignment Syed Imran Farid September 30, 2015 Professor: Leon Guendoo QA1 The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product. It is also a tool to help marketing planning and execution. The four Ps of marketing: The marketing mix can be divided into four groups of variables commonly known as the four Ps: Product: Product means the goods-and-services combination the company offers to the target market. Kotler and Armstrong (2013). For many a product is simply the tangible, physical item that we buy or sell. You can also think of the product as intangible i.e. a service. In order to actively explore the nature of a product further, let’s consider it as three different products – the core product, the actual product, and finally the augmented product. Price: Price is the amount that is charged by marketer of his offerings or the amount that is paid by consumer for the use or consumption of the product. Price is crucial in determining the organization’s profit and survival. Adjustments in price affects the demand and sales of the product. Marketers are required to be aware of the customer perceived value of the product to set the right price. Place: place is about where the product is made, where it is stored and hot it is transported to the customer. The place for each of these...
Words: 1401 - Pages: 6
...Marketing is about communicating the value of a product, service or brand to customers or consumers for the purpose of promoting or selling that product, service, or brand. The oldest – and perhaps simplest and most natural form of marketing – is 'word of mouth' (WOM) marketing, in which consumers convey their experiences of a product, service or brand in their day-to-day communications with others. These communications can of course be either positive or negative. In for-profit enterprise the main purpose of marketing is to increase product sales and therefore the profits of the company. In the case of nonprofit marketing, the aim is to increase the take-up of the organization's services by its consumers or clients. Governments often employ social marketing to communicate messages with a social purpose, such as a public health or safety message, to citizens. In for-profit enterprise marketing often acts as a support for the sales team by propagating the message and information to the desired target audience. Marketing techniques include choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and advertising a product's value to the customer. From a societal point of view, marketing provides the link between a society's material requirements and its economic patterns of response. Marketing satisfies these needs and wants through the development of exchange processes and the building of long-term relationships...
Words: 1458 - Pages: 6
...The Greatest Movie Ever Sold Media is everywhere, it became a part of our life. We are exposed to thousands of ad messages every day and it's hard to imagine how it would feel to live without them constantly surrounding us. Today we see ads in print publications, TV commercials, emails, on different products, massively scattered in sport venues, and it’s even spreading into public spaces. In his documentary, Morgan Spurlock delivered a fascinating satire of the process of placing products into movies and tried to delve into the nature of advertising in our society. In the movie Spurlock talks about product marketing while using product placement to get brands to sponsor his movie. Of course, some of the brands (Guess, Harmel Foods, Ford, Nike, Red Bull,etc.) refuse his request to sponsor his endeavor and take part in the movie. Spurlock's reputation doesn't seem good enough for them, they are scared that being featured in this movie is going to damage their brand image. But brands, who want to be considered transparent or playful probably will be interested in sponsoring such a film. Some of the companies that agreed to sponsor the movie are Hyatt, POM Wonderful, Mini Cooper, JetBlue. They were taking risks, considering the fact that Spurlock was the man behind “Supersize Me” documentary, but overall I think it worked out well for them. Besides, Spurlock made sure that his brands were a good match for his movie. He analyzed his brand personality and then made sure the companies...
Words: 772 - Pages: 4
...Swisher Mower&Machine Company | ------------------------------------------------- | Evaluating a Private Brand Distribution Opportunity | ------------------------------------------------- By: Waleed Kassabo | Problem definition Strategic issue Wayne Swisher is facing his first major decision which is accepting the offer of private branding distribution for SMC’s line of riding mowers or not From his point of view doing that sounds good opportunity, but he must take deeper look on the situation before making his final decision Objectives 1- Increase distribution coverage 2- Increase sales 3- Stabilize seasonal sales patterns Concerns 1- Financing costs for inventory and receivables 2- Cannibalization of current sales 3- Relations with existing wholesalers and dealers Situation Analysis Company / Products Swisher Mower is family based business founded by Max Swisher in the early 1950s, during the last 50 years (1950 -1996) Swisher Mower faced a lot changes in the market, demand and production. Swisher produce three type of lawn mower units with strong depends on the Ride King product which is three wheel riding mower that has a zero turning radius, Developed by max swisher in the 1950s. Swisher products are distinct from its competitors in simple design, high quality and longevity Demand According to the last industries report the sales trend is going up. Riding lawn mower sales are seasonal, about 33 % from the sales occur...
Words: 902 - Pages: 4
...Ted Baker is a Global clothing retailer, which was established by Ray Kelvin in Glasgow, Scotland 1988. At the start, Ted Baker sold men’s shirts. In the subsequent years, Ted Baker established itself as a global lifestyle brand that continued to develop and attain significant growth and development. Ted Baker has operations in Europe, Middle East, North America, and Australasia. Ted Baker has managed to gain a high geographical cover even in depressing economic periods. In 2014, Ted Baker had expanded into 35 countries and had expanded its range of products from a single product – men’s shirts – to womenwear, Lingerie and childrenwear among other offerings. This essay will critically evaluate the factors behind the rise and increasing globalisation of the Ted Baker retail brand. In its efforts to become a global firm, Ted Baker sought to expand its product offerings from men’s shirts specialisation to womenswear, accessories, sleepwear, and children wear (Holland, 2013). The product portfolio expansion is essential in improving the firm’s profitability as new customers are targeted across the firm’s markets. To depict the growth of the retail brand, the expansion is observed as an aspect of product development that involves selling new products to the existing markets (Lamb, Hair, and McDaniel, 2010). However, the product portfolio expansion is also supportive of a market development strategy and diversification strategy since Ted Baker further sought to sell its products (existing...
Words: 1970 - Pages: 8
...COURSEWORK BOOKLET TRIMESTER 2, ACADEMIC YEAR 2012/2013 MARKETING AND INFORMATION TECHNOLOGY BMK 2854 INSTRUCTIONS TO THE STUDENTS 1. Please read this Coursework Booklet thoroughly. 2. The Instructions are stated in detail in this booklet and must be observed. Late assignments will be penalized. The ‘water-marked’ date on the envelope of the assignment sent in by students will be taken as the date of posting. 3. The course-schedule is included in this booklet. You are to follow the course outline stated in this Coursework Booklet. BMK 2854 INDUSTRIAL MARKETING 1. About the instructor Mr. Mohd Fauzi Shaffie is currently a lecturer in the Management Unit of Multimedia University. He has more than 30 years of work experience particularly in business consulting, training and education franchising. He was, until recently the Managing Director of his own two companies, one deal with business consultancy and the other in education franchising. His focus and passion has been in marketing strategy, corporate/ organizational strategy and franchising, and has consulted for a number of public and private organizations. He has also served on the boards of a number of companies. |Room Number |FOM 3rd Floor, | | |Room No: BR3016 | |Contact Number...
Words: 2193 - Pages: 9
...Proper Cost Management, Knowledge Transfer, and Globalization For a Successful Family Business Abstract: Management of business accountants play an important role in planning, coordination with production, marketing, financial functions and finally with targeted profit. This study investigates whether proper management accountants in family businesses can contributes towards its success. Management and cost accountants need to be focused on the internal aspects of a business to keep it efficiently running and profitable. The paper also considers problems with knowledge transfer and globalization in a family run business through literature review and case studies including problems with family run businesses and makes suggestions to resolve those problems. Introduction: Introduction: Most of the definitions of Family Business include least three dimensions: one or several families hold a significant part of the capital; family members retain significant control over the company, which depends on the distribution of capital and voting rights among nonfamily shareholders, with possible statutory or legal restrictions; and family members hold top management positions. (José Allouche). It has been suggested that profit maximization may have been inaccurately assumed to be the primary or even sole objective of a family business and that family firms often display a strong preference toward noneconomic outcomes (Thomas M. Zellweger) we find good reasons why family...
Words: 1134 - Pages: 5
...SUBMITTED TO: SUBMITTED BY: Table of Contents 1.0 Company Profile 3 1.2 Industry Anaysis: 4 Macroenvironment for FMCG industry: 6 Structural Analysis: 6 Design and Manufacturing: 6 Distribution and Marketing: 7 1.2 Area of Research 8 1.3 Why This Area of Research? 9 1.4 Problem Statement 10 1.5 Purpose 11 1.5 Methodology 11 1.6 Brief Outline of the Study 12 1.0 Company Profile Haleeb foods came in to existence in the year 1986 by producing the first product labelled as Haleeb Milk. Ever since its beginning Haleeb Foods has been producing quality products for its consumers. Haleeb as a company has not merely been concentrating on the product itself but they have been engaged in making efforts to bring out innovative and creative packaging for the products that they offer. Haleeb foods have undergone numerous ventures in their 27 years of existence. To enlighten the achievements for Haleeb foods we can highlight the product launches that they have been making occasionally to fully capture the market and to satisfy the evolving needs and preferences of the consumers of Pakistan. Taking forward from what they produced first, in the year 1997, Haleeb foods produced Haleeb Asli Desi Ghee, followed by Haleeb Cream and Candia Skims Milk Powder in the year 1998, followed by Candia Skims Milk Liquid Powder. The above stated examples...
Words: 3136 - Pages: 13
...electronic marketing with market orientation concept Morteza Mashayekhi and Amir Ekhlassi Abstract The aim of this paper is to show the relationship between electronic marketing and market orientation. This paper intends to integrate these concepts and draw a framework for e-market orientation as a new paradigm in business. So it is necessary to introduce both e-marketing and market orientation and review the literature related to them. We begin our literature overview with e-marketing and then we turn to introduce the concept of market orientation. Finally, we illuminate the impact of e-marketing on market orientation and introduce the concept of e-market orientation as a new approach in implementing marketing concept with the aid of the internet. Key words: electronic marketing - market orientation – e-market orientation 1. Introduction to e-marketing Electronic marketing is the transfer of goods or services from seller to buyer that involves one or more electronic methods or media. [3] E-marketing includes the management of the consumer’s online experience of the product, from first encounter through purchase to delivery and beyond, but it isn’t just another addition to the marketing mix, another tool in the box. Instead they point out that the way people communicate is permanently changing the way that markets work. [2] E-marketing also can be defined as the use of electronic channels of communication to spread your marketing messages. New...
Words: 4163 - Pages: 17
...Available online at www.sciencedirect.com Journal of Interactive Marketing 23 (2009) 61 – 69 www.elsevier.com/locate/intmar Probability Models for Customer-Base Analysis Peter S. Fadera,⁎ & Bruce G.S. Hardieb a 749 Huntsman Hall, Wharton School of the University of Pennsylvania, 3730 Walnut Street, Philadelphia, PA 19104-6340, USA b London Business School, UK Abstract As more firms begin to collect (and seek value from) richer customer-level datasets, a focus on the emerging concept of customer-base analysis is becoming increasingly common and critical. Such analyses include forward-looking projections ranging from aggregate-level sales trajectories to individual-level conditional expectations (which, in turn, can be used to derive estimates of customer lifetime value). We provide an overview of a class of parsimonious models (called probability models) that are well-suited to meet these rising challenges. We first present a taxonomy that captures some of the key distinctions across different kinds of business settings and customer relationships, and identify some of the unique modeling and measurement issues that arise across them. We then provide deeper coverage of these modeling issues, first for noncontractual settings (i.e., situations in which customer “death” is unobservable), then contractual ones (i.e., situations in which customer “death” can be observed). We review recent literature in these areas, highlighting substantive insights that arise from the...
Words: 8094 - Pages: 33
...Chapter 4 Concluding Case 1. According to Chapter 4 of the text, a “mission is a clear and concise expression of the basic purpose of the organization”. “It describes what the organization does, who it does it for, its basic good or service, and its values.” Mission statements vary in terms of specificity. For example a larger company such as Proctor & Gamble, will have a much broader mission, commensurate with the size of its target customer base. A smaller, local owned, business will typically have a smaller target customer base, creating the need for a more specific mission. A small business’ mission will need to be one that speaks to the particular niche of customers within the business’ local area. Chapter 4’s Concluding Case involves a small, local business that directly serves the traffic from a nearby university. Using text’s definition of mission, and after reading Custom Coffee & Chocolate’s case, I was able to identify that the local business serving University students and staff, would need a specific mission. I concluded that Custom Coffee & Chocolate’s mission was to “provide a place where students, university faculty, and local residents, could indulge their love of good coffee and fine chocolate”. This mission statement adequately meets the criteria of what a mission statement should include for a small business. 2. According to Chapter 4 of the text, once managers have analyzed the environment and an organization’s resources, they will have the information...
Words: 3674 - Pages: 15
