...various types of promotional tools that are used by business organisations like SPSL are: advertising, public relations, trade event, direct marketing, sales promotion and personal selling. Advertising: Advertising is the process through which a company draws attention of the members of public about its products and services by communicating it to them through advertisements which are communicated through various sources of medium like TV, Radio, news paper and leaflets. The main disadvantage of advertising is it involves high costs (Bertrand et al, 2010). Public Relation: Public relation is the process through which a company communicates the positive messages about itself and its services through press releases and events that are conducted by the company. The main disadvantages of public relation are that designing and implementing a public relation campaign is a complex process and the success of the process is hard to measure (Karimi, 2013). Trade Events: Trade events are processes through which a company displays its products and services to the members of the public to create awareness through trade fairs to create awareness and increase its market share. The main disadvantage of conducting trade events for a company is that they may not attract and deliver the message to the target customers of the company (Gottlieb et al, 2011). Direct Marketing: Direct marketing is the process in which a company provides marketing information about its products and services directly...
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... 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. The business owners...
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...its large rang of unique products that the shelf's of the UK have not seen before. This report highlights my recommendations on how to successful make Lumicore an international company and establish itself in the UK market place by offer customers a unique product and using a cost leadership method to beat the prices of the competition whilst maintaining a great quality of product, Lumicore hopes to achieve the following; In the first year of Business gain 2% market share of the domestic paint market. Taking market share from traditional paint suppliers in the UK Launch of unique exquisite range in 2014. Create distribution network with key customers such as B & and home base. Sponsoring s sports team to increase brand awareness of the company. 1. Front cover 2. Executive Summer 3. Contents 4. - 5. Background 6. Pestel Analysis 7. Pestel Analysis 8. Market Segmentation 9. Market Segmentation 10. Main Customers and Competitors 11. Primary Data and Product Offering 12. Marketing communication and Logistical operations 13. MKIS, Market research and SWOT Analysis 14. Summary of recommendations 15. Financial projections and conclusion 16. Bibliography 17. Appendix Background In this report I will be discussing Brazilian Paint manufacturer Lumicore which is owned by parent company lumichech which is based in brazil. Lumicore paints manufactures a range of products these being, paints...
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...importance of Marketing in Business February 19, 2013 In the following paragraphs the definitions of marketing will be developed in accordance to different sources. The importance of a strong marketing department to drive successful business will be discussed relaying in real life examples from MGM International strategies. “The purest treasure mortal times can afford is a spotless reputation- William Shakespeare.” (Brenner, 2013) Marketing in my own words are the strategies used by business to attract more clients and to differentiate from competitors. Marketing is a matter of earning people’s trust. According to the Business Dictionary, “Marketing is the management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the four P’s of marketing: identification, selection, and development of a product, determination of its price, selection of a distribution channel to reach the customer's place, and development and implementation of a promotional strategy.” (Marketing Concept, 2013). Marketing also can be defined as “the activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments of...
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...INTRODUCTION The idea or concept of Business to Business (B2B) marketing has existed for centuries but for a long time it had been ignored and remained in the shadows of the more traditional Business to Consumer (B2C) marketing (Pitt & Honeycutt, 2001). It is over the last two decades has more light been shone on this important phenomenon- where businesses trade with other businesses, governments and Institutions . It is essential to first and foremost understand that B2B marketing cannot exist in isolation, the existence of B2B and B2C markets are in many ways dependent on each other for its survival and growth, a single demand for a B2C product such as a car gives rise to millions of B2B market demands such as aluminum, leather, steering systems, engines, etc (derived demand). Furthermore a failure in one market will have significant detrimental impact on the other. This essay however aims to identify the differences that exist between the two markets and how multinationals such as Hewlett-Packard (HP) implement separate marketing strategies based on the distinctions that exist within the market and their consumers. PRODUCT DIFFERENCE (standardized vs. complex) Hewlett Packard (HP), famous for its laptops, desktops and printers and storage devices sells its products in both markets. The B2C market it operates is more standardized and less complex that its B2B counterpart. Large groups of individual customers exist whose specifications for the products are more or less...
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...Marketing for Business Today I will discuss marketing for a business. I will identify the pros and cons of creating a business under the partnership form of ownership. I will cover funding options for small business and how each option affects the business from the owner standpoint. I will discuss managerial accounting, and determine how it can help managers with product costing, incremental analysis and budgeting. I will cover the basic components of the marketing process using a product I have come up with. Finally, I will discuss the role of social responsibility and technology in the marketing function. A business partnership is defined as two or more persons (usually not a married couple) who agree to contribute money, labor, and/or skill to a business. Each partner shares the profits, losses, and management of the business and each partner is personally and equally liable for debts of the partnership. Formal terms of the partnership are usually contained in a written partnership agreement (Ownership Structure Types 2013). There are three major types of partnerships. The General Partnership, the Limited Partnership and the Limited Liability Partnership. The limited partnership and the limited liability partnerships both are used to protect the assets of a contributing partner. A limited partnership limits the amount of liability to the amount of the partner’s investment. The limited liability partnership is the same as the limited partnership, buts protects each...
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...Brick vs Click Business Managerial marketing BUS 620 Brick vs Click Business Abstract There are many avenues to go down when starting a business. The first decision to make is whether to have a web based operation or a brick and mortar business. This essay will explore and analyze the marketing implications for reaching market segments using both mediums to promote a web based business versus a brick and mortar business. In addition, some examples will be given of companies who have successfully established a space and/or place presence. The way you reach your customers will have the biggest impact on sales and that is the ultimate form of success, SALES. Brick and Mortar When starting a business the first step is to decide your approach to having a store front or a virtual store. Opening up a physical location where customers can come in and purchase the product or service being offered. Depending on the type of business or the product or service you are selling, by having a physical address there are a lot of advantages (Mullins, 2010). One of those advantages is that you can build a personal relationship with the repeat customers, and form a lasting trust worthy authority on the product or service you are attempting to sell. Despite the vastness of the World Wide Web and the perpetuation of inertia, people still like to window shop before they buy. Having certain products on display gives the customer the ability to touch and examine the product and this...
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...retailer by Nielsen Online. In January 2007 Netflix was named the Retail Innovator of the Year by the National Retail Federation. In the fall of 2005, Fast Company magazine named Netflix the winner of its annual Customers First Award. In December 2008, Time Magazine named the Roku Netflix ready device one of the top ten gadgets of the year. Services play an increasingly important role in the economy and in individual organizations. Services are particularly relevant in industries where competitive pressures are forcing companies to find ways to create competitive differentiation. (Davey) Marketing a service is not exactly the same as marketing physical goods. It has been called "selling the invisible" - delivering intangible services as a core "product" offering . However, invisibility, or intangibility, is just one factor that distinguishes services marketing from product marketing. Other factors include inseparability, heterogeneity, and perishability. These four characteristics affect the way clients behave during the buying process and the way organizations must interact with them. 1. Intangibility - Services are not physical and cannot be...
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...Project Report Launching the BMW Z3 Roadster Introduction BMW Z3 is the 1st BMW car which is being manufactured in North America, a market which has contributed only 16% to BMW s revenues. At the same time, the American customer has found itself very difficult to relate itself to a foreign brand. Here lies the challenge for BMW and the marketing efforts behind the Z3 campaign are aimed at changing this perception of the American customer and ingrain BMS s brand image in the hearts of Americans. Phase1 which was not a run of the mill marketing campaign created a huge buzz and was deemed a huge success. The campaign revolved around the placement of the BMW Z3 in the James Bond Movie, GOLDENEYE as Bonds new car. Several other non-traditional elements such as being part of the Neiman Marcus Christmas Catalog, product appearance on the Jay Leno show, and launch at Central Park ensured an out-of-the-box prelaunch. The challenge now is to leverage the buzz and design Phase II marketing strategies which will convert the interest generated into revenues for BMW. Strategic Significance of the Launch The launch is especially significant for BMW because the success of the entire U.S. operations of BMW crucially hinged on it. Moreover, BMW hopes to position the BMW brand firmly in American culture and settle into the hearts and minds of the American public through the launch. It was also meant to promote the vehicle as a cultural icon in America. Further, the launch demonstrates that...
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...BUSINESS ENVIRONMENT A TERM PAPER ON PROJECT SHAKTI - _STRATEGIC ADVANTAGES OF CSR SUBMITTED BY; NAME;-Pravita Mehta ROLL;-Ao1 SECTION;-RT1002 REGISTRATION NUMBER;-11008575 COURSE;-MBA(3501) CONTENTS 1.INTRODUCTION 2.PROJECT SHAKTI-ORGANIZATION NAME UNLEVEL PROBLEM AND SOLUTION 3.BENEFITS 4.HUL-PROJECT SHAKTI PRESENTATION TRANSCRIPT 5.SUPPORT SHAKTI. 6.MARKET LINKAGE FOR RURAL PRODUCTS 7.INDUSTRY ROLE IN BUILDING MARKET LINKAGES 8.SCOPE AND OPPORTUNITIES 9.LITERATRURE REVIEW 10.CONCLUSION 11.REFERENCES AND BIBLIOGRAPHY Introduction Rural products of India are unique, innovative and have good utility and values. Large number of these rural products (like handicraft items, food products, embroidery, clothes & other products) sustains a significant segment of the population in the rural areas. Several attributes of rural products can be identified, for which, it has a demand in the market. Out of the lots, ‘ethnic origin’ and ‘indigenous design & appearance’ are two traits of rural products, attracting a premium in the market. But, contrary to this, the non-uniformity of rural products (from one another) and lack of its quality control measures has been creating a negative demand. Besides, the small sized and dispersed...
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...Urban Outfitters Continuing Case Study Part 4: Marketing a Business Introduction to Business – BUS 100 November 22, 2010 Abstract Urban Outfitters is a continuing case study that describes the basic components of the marketing process (product, promotion, pricing, and distribution). This assignment gives insight into several companies marketing strategies that businesses use to excel in customer service and satisfaction with their product(s) and or services. The study specifically addressed four questions regarding counterculture image, big box stores, exclusivity and the enjoyment of shopping. The study’s hypothesis was that a business must complete an external analysis in order to determine what changes are taking place in their city, county, state, country and around the world that could potentially impact its business? Also, it’s important to find out want and how they make their final purchase decisions. A company must be able to determine their potential, weaknesses, opportunities, and competition. Explain why Sears or Wal-mart cannot effectively create a trendy counterculture image. One reason as to why Sears or Wal-mart cannot effectively create a trendy counterculture image is because it would completely go against the general norm. This image normally targets a specific group of people. Wal-mart’s main focus is to help customers save money, which will hopefully result in them living better. Before opening Wal-mart...
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...Table of Contents 1.0 Marketing Strategy 1.1 Objectives 1.2 Target & Segmentation 1.3 Positioning 2.0 Strategies 3.0 Marketing Mix 3.1 Product 3.2 Pricing 3.3 Distribution 3.4 Marketing Communications 3.5 Customer Service 4.0 Recommendations 5.0 Plan of Action 6.0 Bibliography 1.0 Marketing Strategy Westpac: THE ASIA PACIFIC INVASION Westpac have been servicing the Pacific Rim since 1901 with rapid support for its growth strategy of servicing Australian and New Zealand customers with links to Asia, and Asian customers with business interests in Australia and New Zealand. With Capital Market Sales and Foreign Exchange capabilities established in Singapore in 2004, Westpac Group Asia was extended to include Corporate and Institutional Banking in 2005, and most recently, Syndicated and Leverage Finance and Asset Finance. Westpac Singapore and Hong Kong offices have a strong focus on private banking for affluent customers with ties to Australia and New Zealand. While most of these Westpac Institutional Bank operations are headquartered in Singapore to cover the continent, the geographic footprint has continued to expand, incorporating Shanghai and Hong Kong Branches in China and Representative Offices in Mumbai, Jakarta and Beijing. (Westpac Group, 2011, Westpac History, 07-06-2011, URL: ) While Westpac began to seriously look at the Asian market by 2005, it was only through the form of corporate banking and as they have positioned themselves...
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...WORLD PAGE CELLULAR THE WORLD AT YOUR REACH Marketing Final Paper-Online MM522 Executive Summary Mission Summary World Page Cellular is committed to conducting business to the highest standards of ethics and integrity. World Page strives to deliver straightforward communication tools that not only are smart and convenient, but deliver a high level of value to the user. In addition, World Page Cellular seeks to promote the highest levels of customer service. World Page Cellular works to educate users about communication tools believing that informed pragmatic consumers will find value in World Page Cellular. World Page Cellular is dedicated to making communication products and services easy to understand allowing users to remain in control of their World Page Cellular experience. Finally World Page Cellular recognizes that that their interactions with society reflect their character as an organization and pledge to have those interactions to embody those characteristics they claim to possess. World Page Cellular, a vendor of prepaid wireless services in the United States, offers affordable prepaid services without borders. World Page offers maximum freedom through the avenue of choice, which most carriers do not offer customers. World Page Cellular plans to become the leading no-contract wireless service provider in South Florida providing the ultimate in customer satisfaction and service. World Page Cellular’s quest to seize market share comes with an emphasis on targeting...
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...Page 1 Toyota Motor Corporation is a Japanese multinational automobile company since 1937 found by Kiichiro Toyoda. It is currently directed by Akio Toyoda. Toyota is a large company that currently work with 331,876 employees since March, 2013. (Toyota, 2013). As most successful companies, Toyota had its great moment of success in the United States. Due to acceleration issues on its automobiles, the company was recalled for safety risks in 6 million of its cars, and Toyota’s reputation really suffered from it. However, the company has been producing and creating cars as today it has a range of 22 automobiles model. They create different body types such as cars, hybrids, crossovers, SUVs, trucks, and minivans. The automobile company own 7 models of cars including the Yaris which is the cheapest of the range. The Toyota Yaris was first created in 1999 in Japan, and then another one was produced in 2001 in France for the European market. 1. Evaluate Toyota’s positionning approach for Yaris and discuss the learning theories that would you use to teach your target market about the new Yaris. According to the given case study, Toyota has targeted the young market for its Yaris, but statistics show that in the average the UK consumers who buy the car are around 60 years old. Young people do not like the fact that it does not have a sporty look. Young consumers like fancy and fast cars. The Yaris mostly represents a simple type of car. In order to avoid that situation...
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...Urban Outfitters Continuing Case Study: Marketing a Business Robyn Miller Professor Marietta Lewis Business 100 August 28, 2011 Urban Outfitters Continuing Case Study: Marketing a Business 1. Explain why Sears or Wal-mart cannot effectively create a trendy counterculture image. Sears or Wal-Mart cannot effectively create a trendy counterculture image because Wal-Mart, for instance, operates on a high volume low profit margin and Sears operates on a high profit margin. The only way this can be done is to have the products mass produced which make it impossible to be either trendy or counterculture. To be trendy counterculture is to be unique when going against other retailers. Sears on the other hand are higher priced but still mass produced items which they think will appeal to the general public. Neither Sears nor Wal-mart can make the changes that would be needed to adopt the image. If they do, they would risk turning off their existing customer base. Lastly, the extensive product selection does not lend itself to the image. Furthermore, the best either of these could do is create a mini-shop, given the current brand image, the trendy image may be a hard sell for "trendy" customers, that may be the target. 2. Could the big box stores sell merchandise identical to Urban Outfitters? Explain your answer. Yes and no. Yes the big box stores can purchase the items that are sold at Urban Outfitters and place the products on the shelves. These stores are trying to modernize...
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