...* * * * . March 15, 2012 MKT 421 Instructor: Roberto Cordero Week One: Define Marketing Paper Marketing Defined In today’s business world marketing is a tool used to promote and excel the sales of a product. Marketing has advanced to extreme levels in the past decade because of all of the new advancements in technology. Marketing is used to make consumers aware of a product or service to promote business and keep up with competitors. Marketing surrounds us in our daily life even if we are unaware of it. It is on the T.V., the radio, in magazines, and newspapers, on the internet and billboards on the freeway. This paper is going to define marketing and explain the importance of marketing in organizational success this paper will also provide three examples from the business world that support the definition. Marketing is a tool that when put into a plan becomes a successful way to promote a business, a marketing strategy plan is something that every business, large or small should put time and effort into. This time and effort that is put into a marketing strategy plan turns in financial success for the business when it is sought through properly. Examples of marketing can be something as simple as a business card or a bulk email sent out to 100’s of people advertising a sale. According to Entrepreneur Media (2012), "Every company needs "literature," printed pieces that do a careful and well-thought-out job of presenting its products and services:...
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...(c) N Wellman 2010 L1 OHT 1.1 The marketing concept and philosophy Brassington and Pettitt (heavily modified) Brassington and Pettitt: Principles of Marketing, 3rd Edition (c) N Wellman 2011 1 OHT 1.2 Learning Objectives Understand marketing as a strategic process in support of achieving organisational aims Recognise the processes within the marketing model and how this is operationalised via the marketing mix Brassington and Pettitt: Principles of Marketing, 3rd Edition (c) N Wellman 2011 2 OHT 1.3 Marketing defined Marketing is the management process responsible for identifying, anticipating, and satisfying customer requirements profitably. (CIM, 2001) "Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. (AMA, 2005) Brassington and Pettitt: Principles of Marketing, 3rd Edition (c) N Wellman 2011 3 1 (c) N Wellman 2010 OHT 1.4 Corporate/social responsibility(CSR) Societal and ethical marketing need ways to SOCIETY attract and welfare retain customers good ethics raises market share and profits Brassington and Pettitt: Principles of Marketing, 3rd Edition CONSUMER satisfy needs legislation and Co responsibly regulation- wages, to contributes to society’s SOCIETAL working condition, pollution etc well being MARKETING Kotler (c) N Wellman 2011 COMPANY...
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...2011 Technical Summary IAS 19 Employee Benefits as issued at 1 January 2011. Includes IFRSs with an effective date after 1 January 2011 but not the IFRSs they will replace. This extract has been prepared by IFRS Foundation staff and has not been approved by the IASB. For the requirements reference must be made to International Financial Reporting Standards. Employee benefits are all forms of consideration given by an entity in exchange for service rendered by employees. The objective of this Standard is to prescribe the accounting and disclosure for employee benefits. The Standard requires an entity to recognise: (a) a liability when an employee has provided service in exchange for employee benefits to be paid in the future; and (b) an expense when the entity consumes the economic benefit arising from service provided by an employee in exchange for employee benefits. This Standard shall be applied by an employer in accounting for all employee benefits, except those to which IFRS 2 Share-based Payment applies. Short-term employee benefits Short-term employee benefits are employee benefits (other than termination benefits) that are due to be settled within twelve months after the end of the period in which the employees render the related service. When an employee has rendered service to an entity during an accounting period, the entity shall recognise the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service: (a) as a liability...
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...Abstract The intent of the paper is to examine current trends in the most commonly defined contribution retirement plan, the 401(k) plan. It will outline the best course of action to achieve an effective plan and maximize employee participation. This paper will review current mandates regulated by government agencies and explain the importance of remaining in compliance. Finally, the paper discusses best practices for implementation, as well as the best ways to promote a 401(k) plan within your organization. Throughout the process the details of the 401(k) plan at Tampa Bay & Company, a small sized organization, will be compared to other non-governmental company 401(k) plans to highlight specific examples and draw comparisons. Overall 401(k) Trends In response to the economic downturn there has been an increasing surge of employers who are lowering benefits associated with 401(k) plans. The most common trends are employers reducing the amount of match, reducing the portion of the match, or eliminating the match altogether. Over the past couple of years several surveys have been completed by investment firms, revealing that the number of employers who have decreased company contributions is on the rise. Some surveys show as low as a 7% decrease, but the majority of surveys claim that the amount is closer to 25% of employers who decreased matches or ceased employee contributions all together. Nearly two-thirds of employers still continue to provide matching contributions...
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...lacks interest - union members block suggestions through committee action 4. Which one of the following is not a benefit to the employer when offering an ESOP? Student Answer: - maintains a stable work force - owner can sell stock to a friend - results in a dilution of value of the stock - ESOT can borrow money under favorable conditions 5. In contrast to compensation systems in the private sector, those for government employees are less likely to include use of Student Answer: - wage surveys - job descriptions - job evaluation - financial incentives 6. Which one of the following statements is not true regarding a defined contribution plan? Student Answer: - most pension plans are defined contribution plans - crucial to a defined contribution plan are investment and management skills - employers assume the investment risk - most plans have less than 100 participants 7. Which of the following is not true about a well-designed incentive scheme? Student An...
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... Its ability to learn, decide and adapt to the external environment made CR attractive to regulators, researchers, academia, politicians and the industry. CR promises to bring a paradigm shift in spectrum management policies from command-and-control regime to dynamic and opportunistic spectrum access. Despite more than a decade of research in the CR area, there are too little CR systems ready for the market. This lack of ready CR systems may reflect an overemphasis in the CR literature on theory and simulations with less work done in experimental-basedresearch and publications. In order to fast-track the real-life deployments of CR systems, the research community is now focusing on the development of CR platforms. With different software defined radio (SDR) packages and hardware available, it is confusing to decide which one to build or use. The objective of this paper is to study the design of CR platforms making use available SDR software packages and hardware. Our conclusion is that CR research should now focus on experimental-based results using real-life CR platforms in order to realize market-ready CR systems. Cognitive radio (CR) technology has become one of the hot research topics in wireless communications network over the past twelve years. CR is an intelligent wireless communication system capable of changing its transceiver parameters based...
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...is being used to detect and adjust to changing communications constraints in the field. This automatically changes to the frequencies and interfaces needed. "Cognitive radios react to environment for better public safety communications." (National institute of justice, Dec 11, 2012, para. 1) Radios were once built using analog electronic parts and circuits that handled signal processing. Technology has advanced exponentially over the past few decades with a new era of digital technology. Now a days radios have become more like computers. Another important factor in this digital development is the cost. Digital parts and circuits are much less expensive than analog. Analog can mostly do a few tasks, digital can do multiple tasks as defined as its software. This new cognitive radio will assist law enforcers in the field in many ways. It will be programmed to recognize a particular frequency that has been overloaded with traffic and it will automatically find and switch over to an alternative frequency without the operator doing it manually. The cognitive radio is aware of its own environment, it knows its own capabilities and limitations as well as its operator’s needs. These radios are running under an engine called cognitive engine. A software package that does as many things as a human would do. Allowing law officers to do their primary job. SDR is a type of software...
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...Your Marketing Plan Guidebook Your marketing plan guidebook is designed to help you in developing a mission and vision statement, setting marketing objectives, examining the external environment, performing a situation analysis, selecting and describing a target market, developing marketing strategies and tactical plans and selecting methods to control a marketing plan. 1 YOUR MARKETING PLAN TITLE PAGE Here's your sample Title Page [It's a great idea to put a color picture of your business or product right on the front. But leave room for the following information.] [Your Name] [The month and year the marketing plan is completed] 2 YOUR MARKETING PLAN TABLE OF CONTENTS Here's a sample Table of Contents. Be sure to include the page numbers when you have finished your Marketing Plan. Section: Page Number: I. Mission and Vision Statements II. Company Description III. Marketing Objectives IV. Analysis of the External (Uncontrollable) Environment V. Situation Analysis • Strengths • Weaknesses • Opportunities • Threats VI. Description of the Target Market(s) VII...
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...Thank you for your interest and for choosing Be Defined Marketing to support your organisation with its marketing needs. As part of the information gathering process, please take a few minutes to fill in this form as thoroughly as possible. The information you provide will be used to provide you with advice only and will be strictly confidential. Thank you Be Defined Marketing 1. What is the name of your company? 2. How long have you been in business? 3. Please provide a brief description of your product/service 4. What do you know about your target audience? 5. To date how have you promoted your product/service? 6. What has been successful and what hasn’t in promoting your business? 7. How would you like Be Defined Marketing to help with marketing your product/service? Are they any key issues that you need marketing support with? Thank you for your interest and for choosing Be Defined Marketing to support your organisation with its marketing needs. As part of the information gathering process, please take a few minutes to fill in this form as thoroughly as possible. The information you provide will be used to provide you with advice only and will be strictly confidential. Thank you Be Defined Marketing 1. What is the name of your company? 2. How long have you been in business? 3. Please provide a brief description of your product/service 4. What do you know about your target audience? 5. To date how have you promoted...
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...Headline: Ethical Marketing Defined !1 Ethical Marketing Defined Professor ! ! ! ! ! ! ! ! ! ! September 13, 2014 ! Presented by Student: M.D. ! ! ! ! ! ! ! ! ! ! ! ! ! !2 ! Ethical Marketing Defined Ethical Marketing Defined Ethical marketing practices equate to a long-term plan of retention, sales, and consistently contribute towards a trust-worthy brand. With new technologies, consumers have become more willing to conduct research around a product or service that they are interested in buying, especially when the exchange value increases (Lamb, C. W. et al., 2014). Think about the last time you went out and purchased an item over $100 did you do a little research on the Internet before handing over your hard earned cash? Well, you’re not alone. General Electric released a recent study that stated 80% of people begin their purchase of a product or service by researching it online prior to stepping foot inside a store (Abel, D. and Williams, C., 2013). As a result, it is important for marketers to identify and relate to ethical marketing practices, avoiding the misrepresentation of brand, price positioning, and/or organizational values. In the statement of the American Marketing Association it gives a clear guideline of conduct amongst professionals that participate in this area of practice. AMA teaches marketers to act in a responsible way in an American society, not causing harm, breaking trust, nor act unethically in our dealings with one...
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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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...1.6 DEFINITION OF TERMS Marketing – this is societal process by which individuals and groups obtain what they need through offering and freely exchanging products and services of value with other. The managerial perspective of marketing is “the art of selling products” (Kotler P. and Keller K, 2006). It can also be defined as an organizational function and a set of process for creating, communicating and delivering value to customers and for managing customer relationship in ways that benefit the organization and it stakeholder (AMA, 2007). Marketing Mix – this has been defined as the set of marketing objectives in target market (Kotler P. and Keller K, 2006). According to Borden, is the set of marketing tools that the firm uses to pursue its marketing objectives (Zinkhan et al, 2007). However, these tools were classified into four based groups which McCarthy called the four P’s of marketing: product, price, place and promotion. Marketing strategy – this is the marketing tool as well by which the business units hope to achieve its marketing objectives. It consists of specific strategies for target market positioning the marketing mix and marketing expenditure level (Levy S.J, 2004). Marketing of banking services – this is the process of identifying and stimulating demand for the banks service, meeting that demand by making available the banking services in the most effective and efficient manner to present and potential customers and achieving the profit and other objectives...
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...Questions What are the components of a modern marketing information system? What are useful internal records? What makes up a marketing intelligence system? How can companies accurately measure and forecast demand? Marketing Information System A marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. 3 components of MIS Internal records Marketing intelligence Marketing research (Chapter 4) Internal Records Order-to-payment cycle Sales information Databases, data warehousing, data mining Marketing Intelligence System A marketing intelligence system is a set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment. The internal records system supplies results data, but the marketing intelligence system supplies happenings data. Steps to Quality Marketing Intelligence Train sales force to scan for new developments Motivate channel members to share intelligence Hire external experts to collect intelligence Network externally Utilize a customer advisory panel Utilize government data sources Purchase information Collect marketing intelligence on the Internet Demand Measurement The marketer’s first step to evaluate marketing opportunities is to estimate market demand and company...
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...INTRODUCTION This report introduces the four elements that constitute the makeup of the overall marketing mix and then applies them to the practical real world workings of the Australian automotive fuel retailing industry – retail petrol outlets. The four elements making up the overall marketing mix include product, price, place and promotion. Collectively they are referred to as the four P’s of marketing as their significance makes them the very foundations and building blocks of marketing. This report affords each individual element its own discussion section opening with the definition of the discussed element before delving deeper into what each element brings to the overall marketing mix and ultimately applying them to the retail petrol industry. MARKETING MIX PRODUCT A product is ‘anything tangible or intangible that satisfies the consumer or business customers’ needs as a result of an exchange process’. A product can be physical goods, services, ideas, people or places. A product has three layers beginning with the core consisting of the benefits that the product provides for consumers (or business customers), the actual product, that is the physical good or the delivered service that supplies the desired benefit and the augmented product which is the ‘actual product plus other supporting features’ (Solomon, et al. 2011, p. 181-185). In the automotive fuel retailing industry, Convey (2011, p. 11) found that ‘retail sales of petrol and diesel, together with related...
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...and practitioners for over four decades. From a historical viewpoint, market orientation is defined as a stage of organization growth or as a level reflecting the organizational maturity-the definition which is confirmed by different writers such as Baker, Kotler and Dalgic. They believe that market orientation has been created to develop the different business trends by looking at the market orientation as the final stage of business organization development. Market orientation culture is a group culture designed to create better customer value by executing the required actions with the most efficient and effective way available. Thereby maintaining a high level of the performance of the firm. Definition of Market Orientation According to businessdictionary.com, market orientation refers to business approach that focuses on identifying the stated or hidden needs of the customers through its own or acquired products. Market orientation is generally defined as the organization wide generation, dissemination, and responsiveness to market intelligence. This meaning at once changes the dominant standard that has defined marketing for decades. Traditionally, marketing has been defined within the narrow restrictions of the 4P framework (price, place, promotion and product). Such a concept of marketing has make marketing to a tactical discipline to be performed by middle level marketing managers who did not possess the overall view of the organization. Yet, the connected knowledge...
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