...Marketing@21st Century TREND-WATCHING • Growing in market sophistication: Marketers have to spend more and more on marketing budget to develop&launch new products. • Number of competitors may have declined, but number of brands have immensely increased. • Product life cycles have been dramatically shortened. • It s cheaper to replace than to repair. • Digital technology has provoked a revolution in many markets. • Behavior-based segmentation and lifestyle various shift in connection to the change of fast moving trends with products diffusion and consumer information from click society. CHANGES OVER THE CENTURIES th st 20 CENTURY 21 CENTURY CREATIVITY CREATIVITY+ TALENT (gut/curiosity) CASE STUDY Finding New Idea &Opportunity through Creativity and Innovation Case Study1: Major Cineplex& Major Bowl A huge waste of popcorn at Major Cineplex got brought to K.Kritsanan s attention. Normally after popcorn s made, it ll last 6 hours before it gets stale – that left a hugh amount of left-over to be thrown away. He went on the site and made an observation. Then found an opportunity to rid the waste and generate new revenue. The outcome: Left-over popcorn was given away free of charge, and treated as complimentary for customers at Major Bowl. A bowl of popcorn s placed at a table so anyone can have it. After having popcorn, customers got dehydrated and would order beverage. Because of a large profit margin of drinks, selling beverage alone generated great revenue in...
Words: 487 - Pages: 2
...Marketing In the 21st Century David Sternberg Walden University Personalization and Dynamic Pricing Personalization is the greatest type of direct advertising that individual communications are created and sent to customers. It may be personally made or programmed procedure through software that creates the personal communication. This marketing strategy develops a consumer-centric reference engines rather than corporation-centric trade engines. This approach improves through creating personalized referrals as well as websites may be setup to show marketed products on the basis of consumer’s history. Therefore, when a user visits a web page, the recommendation source, physical locality, and buying records affects products shown on the website (Vesanen, 2007). Secondly, through direct correspondence as well as e-mail where hints may be in the mailings, with the intention that definite unique products are highlighted appropriately. Further, this marketing strategy is developed through business-to-business, where prior to dealing with company representative or decision-makers within the intended business, clue information is gathered relating to definite problems they encounter and utilized to structure pitches (Vesanen, 2007). Lastly, social media marketing allows companies to react to consumers via social sites, addressing consumers’ concerns as well as involving them in customizing products (Vesanen, 2007). Firms that uses personalized advertising raises their conversion...
Words: 1299 - Pages: 6
...What is Marketing? • Meeting needs profitably • Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging product and services of value with others. (Philip Kotler) • Marketing is the activity, set of institutions and process for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. (American Marketing Association) What is Marketing Management? • The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering and communicating superior customer value. Importance of Marketing • Marketing has helped introduce and gain acceptance of new products that have eased or enriched people’s lives. • It can inspire enhancements in existing products as marketers innovate to improve their position in the marketplace. • Successful marketing builds demand for products and services, which in turn, creates jobs. The Scope of Marketing What is Marketed? • Goods • Services • Events • Experiences • Persons • Places • Properties • Organizations • Information • Ideas Who Markets? • Marketers • Prospects Eight Demand States • Negative Demand • No Demand ...
Words: 541 - Pages: 3
...Praxis II: Marketing in the 21st Century by Daisy Chesley Marketing: Strategic Innovation in Globally Diverse Markets Walden University December 23, 2012 Abstract This paper will explore the potential evolution of the role of consumer marketing. I will examine the role of the retailer and the consumer on the Internet and the vital changes retailers must incorporate to stay competitive in the marketplace. In addition, I will discuss the role of personalized marketing, traditional advertising versus online advertising, changes in the marketplace attributable to globalization, the implications of interpersonal communications, and management of the 5Ps. Personalized Marketing Personalized marketing (sometimes referred to as one-to-one marketing) is the marketer attempt to provide the customer individual attention through a variation of methods. Personalized marketing is a strategic approach which involves tailoring products differently for each and every consumer while retaining the principles of mass production. One-to-one marketing is attributable to two converging phenomena: the interactive flow of information made possible by robots and just-in-time inventory (Lampel & Mintzer, 1996, p. 21). In order for a company to be effective in personalized marketing, the company must be able to gather information on the target individual. Today, with the power of technology this is a widespread practice on the Internet. The Internet provides a medium to make...
Words: 4483 - Pages: 18
...As we move into the 21st century, the definition, context and practice of marketing are changing radically. Marketing for the 21st century has tremendously impacted how companies and organizations do business. The era of “locality dominance” is gone; globalization and technology has brought competition and pressure to the door steps of local companies and made it mandatory that every company, organization or manufacturer must be competitive in order to be successful. The evolution of technology information system and of the internet, marketing image has been changed considerably. Consumers in the 21st century have access to a huge amount of information about practically anything and so have the buying power and with it have dramatically influenced the market. They can now afford to buy product from other countries at a more affordable rate. This has been made possible as a result of market globalization which has reduced the cost of transportation, shipping and communication (Kotler & Keller, 2009). For example, it becomes easier to access product information. The twenty-first century has seen a surge in online business which has intervened in the traditional flow of goods and manufacturing through direct communication/interaction and customization of goods and services according to customer’s needs and specification. Product research that used to take months or days can be done in no time. Product Evaluation nowadays is one mouse click away. In the past, people had to go...
Words: 586 - Pages: 3
...Assignment #1: Marketing Models Page 1 Assignment #1: Marketing Models Natasha Silver Dr. Kevin Tullis Marketing 506 January 24, 2014 Assignment #1: Marketing Models Page 2 1. Develop an argument regarding the significance of marketing to organizational success in the 21st century. The significance of marketing to an organizational success in the 21st century is imperative. In order for a business to remain successful in a business environment a firm must market their brand in order to create awareness and attract consumers regarding their services. Marketing plays an important role in creating a solid position in a competitive century. The 21st Century has seen numerous changes within the economy due to the innovation and development of technology. Marketing gives business the art formula of developing, advertising, and distributing goods and services to consumers as well as businesses. According to the text “The future of Business”, Marketing revolves around the anticipation, identification, and satisfaction of the consumer. Without marketing, businesses and firms can offer products and services but would have a hard time selling to potential buyers” (Gitman & McDaniel, 2008). Marketing is a major tool used by businesses in order to communicate with customers and allow businesses to focus on ways to increase sales. In order for a business to...
Words: 1000 - Pages: 4
...21st Century Mobile Marketing Global Insights into the Worldʼs Most Advanced Mobile Society: Japan Christopher Billich, Infinita Inc. April 11, 2008 According to industry data released by Japanʼs largest advertising agency Dentsu in late February, mobile advertising expenditures in the Japanese market in 2007 increased by almost 60% compared to the previous year, reaching ¥62.1 billion (ca. USD 621 million). This result tops even Dentsuʼs own optimistic prognosis, published 12 months earlier, by 12%. An impressive performance in an advertising market close to saturation - total advertising expenditures in Japan only grew by 1.1% from 2006 to 2007, and by 1.7% between 2005 and 2006. campaigns and actually sign up for promotions or make purchases as a result. Close to another third click on ads, but do not participate in promotional offers. Thus, there is no question that mobile advertising will continue to gain in significance in Japan - a market where more than 4 in 5 of a total 100 million mobile subscribers use mobile data services. 1,500 1,125 750 375 0 2000 2002 2004 2006 2008 2010 Mobile advertising up 60% in 2007 For the first time ever, online advertising expenditures (¥ 443.6 billion, ca. USD 4.4 billion) exceeded combined radio and magazine advertising expenditures, which each were down around 4% on a YoY basis. Newspaper advertising suffered even more heavily at -5%, and TV advertising expenditures are down for the third year in a row. While the importance of...
Words: 3129 - Pages: 13
...to a successful 21st century business Received (in revised form): 22nd April, 2006 KEVIN LANE KELLER is the EB Osborn Professor of Marketing at Tuck School of Business, Dartmouth College. Keller has served as brand confidant to marketers for some of the world’s most successful brands, including Disney, Ford, Intel, Levi Strauss, Nike, Accenture and Starbucks. He wrote the textbook Strategic Brand Management: Building, Measuring and Managing Brand Equity and co-authored with Philip Kotler the textbook Marketing Management. KEITH RICHEY is an independent consultant working in New York. He holds a joint Master’s degree in Global Media and Communication from the University of Southern California and the London School of Economics. Keywords corporate branding; corporate image; corporate values; brand personality; brand personality traits; corporate brand personality Abstract Brand personality has been defined as the human characteristics or traits that can be attributed to a brand. Corporate brand personality is a form of brand personality specific to a corporate brand. Unlike a product brand personality that typically relates to consumers and user imagery for a specific product brand, a corporate brand personality can be defined in terms of the human characteristics or traits of the employees of the corporation as a whole. A corporate brand personality will reflect the values, words, and actions of all employees of the corporation. A successful 21st century firm must carefully...
Words: 4612 - Pages: 19
...Assignment #1: Marketing Model Model Marketing Marketing 506 (Intergrated Mkt Communication) Oct 23, 2012 1. Develop an argument regarding the significance of marketing to organizational success in the 21st century. Marketing plays an important role in creating a the solid position in the competitive market. Organizations are also able to build competitive advantage through effective marketing strategy. The importance of marketing for the business to be successful is so that firms can make appropriate strategies to gain advantages. In today’s competitive environment, the success of a business is solely dependent on the type of marketing. Most of the operations and aspects of the business are based on the successful marketing. Marketing covers different components such as personal sales, public relations, sales promotions and advertising. Marketing is the process through which, business firms introduce and promote the product and services to the potential customers. Without marketing, business firms can offer the products within its industry; they cannot sell it to the potential buyers in other countries and industries (Gitman & McDaniel, 2008). It is then very important for the business firms to make effective strategies for marketing of products. In the 21st century there...
Words: 1510 - Pages: 7
...The 21st century Manager The 21st century sustainability leadership is about courage, creativity and faith in people. It is a values-based leadership. Sustainability opportunities and challenges are so complex, both of global scale and yet deeply rooted in people's cultures and beliefs, that tomorrow's leaders will need four core qualities to achieve success: • systems thinking to identify paradigms driving change • mediation skills to facilitate knowledge sharing, ensure stakeholders' ownership and foster innovation • vision rooted in community service and ethical behaviour • decisiveness in ever changing environments with blurred boundaries The 21st century leadership is about leading with the heart and to serve rather than rule. A sustainability leader of the 21st century has to have the ability to create a meaningful context out of the existing sustainability landscape. Sustainability is a broad notion that encompasses all aspects of our lives from economic to social and environmental actions. A number of ways to promote sustainability is infinite, and this vague plethora of contents is often the source of difficulty in raising awareness and participation in the movement toward sustainable future. It is therefore important for future leaders to recognise and provide innovative, sensitive, and meaningful sustainability possibilities. As an entrepreneur, leadership is the most important part of your job. But in a constantly changing business climate, you...
Words: 1692 - Pages: 7
...‘Building a durable corporation requires long-term goals as well as rules to channel investments and - initiatives toward the achievement of these goals. These rules- which I will call “strategy”- have several dimensions. A strategy defines in broad terms where and how the firm will seek to add value, the opportunities it will pursue, the breadth and attributes of the firm’s product lines, its pricing policies, distribution channels, technologies, R & D efforts, and so on.’ (Amar V., 2000 pg 265). ‘Broadly, strategies encompass the set of approaches that the company will use to achieve its objectives’ (Jobber and Lancaster, 2006 pg 49) A well defined strategy should therefore integrate decisions about; scope of the business, objectives, resource allocation, developing sustainable differential advantage and synergy. The importance of strategy in the achievement of business goals cannot therefore be over emphasized judging from the above features. Split into corporate and competitive strategies, the former determines the scale and scope of the business while the later determines the sustainability of the company in the ever dynamic and competitive business environment. Whether inward out (resource based) or outward in (market based), competitive strategy is cardinal to the continued existence if the firm. Since successful strategies are those which adapt firms to the opportunities and threats in their markets/environments and which develop their internal capabilities...
Words: 1929 - Pages: 8
...“Marketing in the 21st century will be of paramount importance to the continuing development and growth of China. In order to continue the prosperous growth into the future survival and growth of companies in China, there is a need to adopt and embrace a marketing philosophy”. China’s participation in the World Trade Organization (WTO) since 2001 has boosted its economic growth and accelerated its legal reformation. Multinationals, thus, have gained confident to invest in China, resulting in rapid increase in foreign investment and made China as one of the largest foreign investment destinations in the world. The country’s WTO accession makes it an irreversible trend to integrate its economy into the global economic framework. With the unprecedented business opportunities and competition brought by foreign investment, marketing in the 21st century will be of significant importance to the continuing development and growth of China. In order to continue the prosperous growth into the future survival and growth of companies in China, there is a need to embrace a marketing philosophy. To survive in the 21st century, companies in China should, at a minimal effort, adopt the marketing concept and be customer-centered, that is to meet customers’ needs profitably. To go further, companies should move beyond and practice the customer concept by serving individual customers with customized offers, services and messages. Technological advancement allows and empowers mass customization...
Words: 877 - Pages: 4
...THE OF THE ST CENTURY 21 THE OF THE 21 CENTURY ST Other Best-Selling Books in the Rich Dad Series Rich Dad Poor Dad What the Rich Teach Their Kids About Money That the Poor and Middle Classes Do Not Rich Dad’s CASHFLOW Quadrant Rich Dad’s Guide to Financial Freedom Rich Dad’s Guide to Investing What the Rich Invest in That the Poor and Middle Classes Do Not Rich Dad’s Rich Kid Smart Kid Give Your Child a Financial Head-Start Rich Dad’s Retire Young Retire Rich How to Get Rich Quickly and Stay Rich Forever Rich Dad’s Prophecy Why the Biggest Stock Market Crash in History Is Still Coming… and How You Can Prepare Yourself and Profit from It! Rich Dad’s Success Stories Real-Life Success Stories from Real-Life People Who Followed the Rich Dad Lesson The Business School for People Who Like Helping People The Eight Hidden Values of a Network Marketing Business Rich Dad’s Guide to Becoming Rich Without Cutting Up Your Credit Cards Turn “Bad Credit” into “Good Credit” Rich Dad Poor Dad for Teens The Secrets About Money—That You Don’t Learn in School! Rich Dad’s Before You Quit Your Job 10 Real-Life Lessons Every Entrepreneur Should Know About Building a Multimillion-Dollar Business Why We Want You to Be Rich by Robert Kiyosaki and Donald Trump Provide Insight on How to Improve Your Financial Future Rich Dad’s Increase Your Financial IQ How to Get Smarter with Your Money Rich Woman: A Book on Investing for Women ...
Words: 4615 - Pages: 19
...Case for Analysis: Perdue Farms Inc. Responding to the 21st Century Challenges 1. Describe the change in management style at Perdue Farms. By all accounts, Frank Perdue was a workaholic. He was a true entrepreneur. With little education, he started his own company, worked long hours, made many single handed decisions and grew the company. He was a traditional leader and used a centralized management style and kept decision making authority in his own hands. Initially, employees were expected to just do their jobs and it was not until later years that Frank encouraged employee participation in quality and operational decisions. While Jim Perdue also has the entrepreneurial spirit, he is highly educated and has the temperament to move the company into a different type of management style. He believes in the importance of the work force and adopts a people first management style. He, like his father, believed the success of the business relies on providing quality products. But Jim believes the workers, or associates as they are called, play an integral role in that process. He believes the associates are the ones that strive to assure the quality of the product and therefore the satisfaction of the customers. Jim implemented many employee benefit programs in an effort increase associate satisfaction. His idea was to maximize company productivity by using the ideas and information provided by everyone in the organization. The management style at Perdue gradually shifted...
Words: 667 - Pages: 3
...Organization and Management of a Health Care Facility I am proud to introduce the leadership team of 21st Century Solutions Health Care Hospital. 21st Century Hospital is part of the World One Health System which includes numerous hospitals and clinics throughout the state. Our leadership team consists of 16 highly educated individuals with varying backgrounds. Each member is well experienced and well respected in each of their particular fields of expertise. I feel privileged to work with so many outstanding individuals. First we have our President of the hospital. This individual is our chief operating officer. He is in charge of all operations here at 21st Century hospital and the six outlying clinics. He oversees about 5,600 coworkers. He has a BS in business and has earned a MBA. Our COO has served as senior vice president of operations and ambulatory services where he managed several different areas including ambulatory care, cardiac care and physicians’ services. Under his skillful leadership, we have constructed several new health complexes, a surgical center and sleep center. He has been able to add more than 100 new physicians. Next we have our Vice President of Medical Affairs. This person services as the Chief Medical Officer/Chief Medical Information Officer. This officer is a seasoned MD and is mainly responsible for the medical staff, quality programs and regulatory compliance. Our Vice President of Surgical Services is responsible...
Words: 1836 - Pages: 8
