...Marketing Mix Product Lancôme, founded in France in 1935, and bought by L’Oreal (also a French company) in 1964, is L’Oreal’s high end division of cosmetics, fragrances, and makeups. (“Lancôme”) Research has shown that Lancôme is missing out or underutilizing on a major segment of the market, about half: men. The case study illustrates the growing men’s grooming market in the US: currently $14 billion, and expected to reach $21 billion by 2015. In order to address this, Lancôme needs a product that will reestablish themselves in the men’s grooming market since they have primarily been viewed exclusively as a perfume, makeup, and skin care company, mainly targeting female consumers. What is something men experience and (most) women do not? Balding. Lancôme will introduce a “Hair Restoration Shampoo” targeted exclusively towards men. This shampoo is more of a “preemptive strike” shampoo/conditioner than typical balding ointments/creams, such as Rogaine. The “Hair Restoration Shampoo” is targeted towards men who are showing signs of balding, or fear future baldness in general. We feel the latter has huge opportunity, as almost every man fears going bald at some point in his life. The main competition in this market is Rogaine, a topical hair re-growth product, first made available by prescriptions in the late eighties. (“History of Rogaine”) Rogaine has evolved over the years and, since 2006, has been made available over the counter. The man advantage that Rogaine has...
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...Guide: Building a Marketing Plan Step-By-Step Guide to Building a Marketing Plan KapConsultants By Sean Doyle and Martin McDermott AB/MT219: Marketing 6/20/2012 Disclaimer: The organization and characters depicted in this exercise are fictional. Any resemblance to real organizations or individuals is purely coincidental. Page 1 Step-By-Step Guide: Building a Marketing Plan Marketing Plan Manual The marketing plan is an integral part of an organizations’ strategy for success. The overall goal of a Marketing Plan is to ensure the business will be profitable. The marketing planning process involves building a strategy for getting products and services to market in a meaningful, cost effective, and profitable way. This manual provides an outline of a basic Marketing Plan, using a descriptive format to guide the development of your final project. Pay close attention to the layout of the marketing plan outline. You will need to format your marketing plan using the same format. Marketing is an all-encompassing discipline, and quite literally, affects every aspect of a business. In fact, marketing has a profound impact on society as a whole, and the life of every individual. For this reason, learning the fundamentals of marketing and how to develop a basic marketing plan is essential to your success as a business professional and savvy consumer. The marketing planning process consists of a set of activities centred on delivering a quality product or service, intended...
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...the projected sales are almost six times the amount of marketing and developing costs in the first year. Not bad for a gaming system and its supporting technologies when they are close to obsolete in the gaming world. According to the article, “Rockstar Games (TTWO) reportedly spent $150 million on marketing – and the game is expected to make almost six times that much in sales over the course of the first year” (2). This goes to show that the consumers of this new game are not concerned with its shelf life. The consumers are drawn in by the successful marketing strategies the gaming companies use. Grand Theft Auto V is marketed through its advanced hardware that allows the gamer to play in a fictional yet realistic atmosphere. The gamers can take part in a fictional gaming world that replicates real life graphics – such as “convincing daylight.” The plausibility of these gaming systems make the success rate of them high throughout the constant change of processors in the industry. As discussed in chapter one of our text, the gaming industry practices sales orientation (5). The industry is constantly pushing new gaming systems such as the Xbox, Xbox360, various PlayStation systems, etc. They are not focusing on the needs of the consumer; they aggressively sell their systems and games. The gaming industry produces products that allow their consumers to play and escape to new worlds. The games give both fictional and realistic...
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...“Principles of Marketing” was a part of my programme this year. I haven’t studied marketing before, but I had an idea of its general concept. It is well known how everything around us and in our lives is affected by marketing. It was useful and interesting to get closer and understand this discipline better. My expectations were met: the information given us during lectures and practice on seminars in teamwork was very fruitful and informative. I became aspired by this subject, and I wanted to know more about it. The process of learning was performed in such way, that students were willing to interact and learn with fun. From the beginning it was anxious, it was not clear what was expected from me, the assessments seemed to be impossible to do. But with every lesson the level of confidence with subject was rising. My first assignment was a test, which supposed to be taken online. It was a high motivator to study and read the textbook. The test covered all the topics, which were taken in semester one, and it was challenging. Unfortunately I have got low grade in it, and I strived to remedy on my next exams. In one of the assignments we were supposed to work in groups. That was our first experience of teamwork. The theoretical knowledge that I gained previously has been applied in this task. We created our fictional product for E-Portfolio. It was a perfume “PHY”. In this assignment we worked on 4P’s of marketing mix: we introduced the product. Perfume industry was chosen due...
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...Viral Marketing By Chad Thevenot, Katherine Watier, and Team Member #3 Georgetown University, Communications, Culture & Technology Program May 2001 Word-of-mouth publicity is a centuries-old marketing technique. Once customers had a good experience with a product, they would tell their friends, who would often buy and use that product and then tell other friends – dispersing information and recommendations about the product via a social network. Mary Kay Cosmetics and Amway, brands that relied on social networks to inform potential customers about their products, used this technique with great success to build highly recognizable brands. Technology makes the spread of product knowledge from one person to another faster and more efficient. Today, digital media like the Internet are the new word of mouth networks, which act as easy, additional resources for people to spread the word. "The Net amplifies the power and accelerates the speed of feedback from users to potential adopters." "People have always relied on word-of-mouth to spread the news about products and services. The Internet just speeds things along," says Charlene Li, an analyst with Forrester Research. Word-of-mouth techniques are vital to marketing on the Internet. Consumers say the primary source of credibility that makes them visit a Web site is word-of-mouth referrals, usually an e-mail from a friend, according to the Internet research firm Jupiter Research. Tim Draper, one of the founding investors for the...
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...BUS101 Introduction to marketing and Communications (MID-TERM ASSIGNMENT) General Instructions Your first formal assessment is an opportunity for you to demonstrate your understanding of the material from the marketing management part of the module (up to and including communication). The task requires you to address a short fictional case. In addressing the assignment topic you must draw explicitly on the chapters and articles noted on QMPlus. You do not need to do reading beyond the module reading list and you should not do any research into the industry, market, product, etc (just make any assumptions clear). Assignment Brief and Backstory You have been lucky enough to secure an internship at Once Dodgy Consultants LLP (ODC), the most prestigious and expensive of all strategic management consultancies, but also a very publicly spirited firm that spends most of its income from commercial activities helping charities and social enterprises reduce poverty and illness. One day, you are working in your cubicle and sense a disturbance in the office, your colleagues rapidly start to disappear muttering “CEO” and “MBC file”. You look up and are surprised to see the CEO of the consultancy leave the elevator and head to your divisional manager’s office, a red file marked “MBC BRIEF TOP SECRET” held distastefully at at arm’s length. The CEO leaves shortly afterwards. You see your divisional manager look forlornly around the office, note you as the only remaining member...
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...Journal of Economic Development, Management, IT, Finance and Marketing, 6(1), 61-76, March 2014 61 Effectiveness of Cartoon Character’s in Creating Brand Preferences Among kids Ajay Jose Bharathiyar University, Coimbatore, India joseajay@gmail.com Dr. K. P. Saraswathiamma K P FISAT Business School, Angamaly, India mcpanicker@gmail.com Abstract Kids mean business to marketers. Around 40 crore kids below the age of 15 are India’s most conspicuous consumers, lapping up not just toys, eatables, gadgets, phones and clothes but also counseling their parents on big-ticket purchases. Intense competition to tap this young aspiring segment has seen big players relying on high spends advertisements, cross-selling, licensed merchandising, program length commercials, product placement and promotions involving free gifts. The researcher has tried to analyse the association of cartoon characters with brands in inducing Brand Preference among kids. Key Words: Branding, Cartoon characters, Kids, Endorsements, Consumer buying behavior, Advertising Effectiveness Introduction Children have a big say in family decision to purchase many products. Marketers are trying to cash on the children’s ability to nag their parents to induce purchase. Pester power is a child’s ability to affect their parents purchase decision, often through the use of nagging or pestering. Seth Gaurav et al. (2008) defines pester power as “the nagging ability of children to purchase the Journal...
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...April 27th, 2013 Marketing 300 Taste the Rainbow. Open Happiness. Eat Fresh. These slogans are recognized across America and around the globe due to the strong branding strategies implemented by the companies that own them. In today’s fast paced and technological world, it is essential for companies to use a simple image, sound, or phrase as a to communicate their reputation. Physical and auditory cues allow brands to take on personality traits that derive from the product’s core customer value. Branding can be very effective in a marketing product by adding perceived value, differentiating the product in a large market, and increasing brand recognition. Most importantly, branding can create a strong customer loyalty that simplifies purchase decisions and builds an emotional bond between the product and the consumer, which in turn leads to higher profits for the company and overall satisfaction. The initial concept of branding began with early civilization, almost 4000 years ago, when farmers branded their livestock to claim ownership over them. Potters’ marks on porcelain dishware and pottery were also recognized as an early form of branding. In the late 1800’s and early 1900’s countries around the world began to industrialize. Manufacturers now faced competition from previously insignificant countries because products could be produced and transported easily and efficiently. By the 1940’s, trade lines were opened across the globe and overall product quality improved. Companies...
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...Background: Project/Company/Product Analysis Assignments Each student and/or team will select create a fictional product or service that they would like to bring to market. The students then become the class experts on the product, the company, and the industry in which it operates. Students should be encouraged to look up articles about that industry in Business Week, Forbes, Fortune, the Wall Street Journal, Marketing Communications, Media-Scope, and/or Advertising Age. The students should use the Kotler text as guides for the project and the program Marketing Plan Pro to formulate the full marketing plan. The Marketing Plan Pro will provide the basis for either presentations and/or a paper that analyzes and evaluates the marketing program of the chosen product. You could grade the effort based on the following criteria: • Use of analytical marketing concepts to analyze the company and its products. • Degree to which information was sought and attained. • Quality of critique of company’s marketing program. • Quality of suggestions for future marketing. • Quality of writing. MARKETING MANAGEMENT FALL SEMESTER Instructor: E-mail: Web site: Campus: Office Hours Or by Appointment at Either Location Course Credits: 3 (Three) Class: Required Materials Marketing Management, 12th edition, by Kotler/Keller, Prentice-Hall 2006, ISBN 0-13-145757-8 and The Marketing Plan Handbook with Marketing Plan Pro, by Wood...
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...maQuestion 2 Marketing Communication Plan for Kiara Designs By [Your Name] [Instructor’s Name] [Institution’s Name] [Institution’s State] [Date] Report Overview This report serves as a digital communication plan for a fictional fashion retailing brand named, Kiara Designs. This plan will help marketers achieving organizational goals of Kiara based on information at hand regarding online marketing and shopping trends in Pakistan. Throughout this report, it is made sure that the digital marketing goals suggested to the brand are: | Smart | Specific | Measureable | Attainment | Realistic | Timely Company Details Established back in 2013, the brand Kiara Designs fall under the category of Apparel/Lifestyle Brands. Its primary products include clothes, bags, phone pouches, shoes and other related items. Each creation at Kiara is a piece of art, inspired by the desire to introduce Pakistani crafts to the upscale local and international market. The key collections are for women who aspire to be different from the crowd. The organization manufactures items related to apparel category. All our items are hand crafted, hence providing job to underprivileged women in Pakistan. Kiara’s Brand Standing Analysis of Kiara Designs as a brand depicts the company has following mission vision and values: Mission To promote Women Empowerment & "Made in Pakistan" globally Vision Fashion with a cause, as every dress we sell can help change a woman's life. Kiara...
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...to understand how their jobs, departments and divisions fit into the whole organization. 3) An internal audit task force of managers could be charged with determining a specific number (usually 10 to 20) of the most important strengths and weaknesses. 4) Proponents of the resource-based view argue that external factors are more important than internal factors for a firm in achieving and sustaining competitive advantage 5) The basic premise of the research-based view is that the mix, type, amount and nature of a firm's internal resources should be considered first and foremost in devising strategies that can lead to sustainable competitive advantage. 6) The subtle, elusive and largely unconscious forces that shape the workplace are captured by the organizational culture. 7) Cultural products include values, beliefs, stories, and language. 8) Metaphors are handed-down narratives of some wonderful event that are based on history but have been embellished with fictional detail. 9) A ritual is a standardized, detailed set of techniques and behaviors used to manage anxieties. 10) For a resource to be valuable, it must be either rare, hard to imitate, or not easily sustainable. 11) Linkages between a firm's culture and strategies often determine success. 12) Resources that are common are never considered valuable. 13) The RBV theory asserts that it is advantageous for a...
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...to understand how their jobs, departments and divisions fit into the whole organization. 3) An internal audit task force of managers could be charged with determining a specific number (usually 10 to 20) of the most important strengths and weaknesses. 4) Proponents of the resource-based view argue that external factors are more important than internal factors for a firm in achieving and sustaining competitive advantage 5) The basic premise of the research-based view is that the mix, type, amount and nature of a firm's internal resources should be considered first and foremost in devising strategies that can lead to sustainable competitive advantage. 6) The subtle, elusive and largely unconscious forces that shape the workplace are captured by the organizational culture. 7) Cultural products include values, beliefs, stories, and language. 8) Metaphors are handed-down narratives of some wonderful event that are based on history but have been embellished with fictional detail. 9) A ritual is a standardized, detailed set of techniques and behaviors used to manage anxieties. 10) For a resource to be valuable, it must be either rare, hard to imitate, or not easily sustainable. 11) Linkages between a firm's culture and strategies often determine success. 12) Resources that are common are never considered valuable. 13) The RBV theory asserts that it is advantageous for a...
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...Research Essay: Marketing Strategy for BEATBAG in Mumbai. About the author: I am Maulik Shah, 16 years old and currently in grade 11, doing the IB Diploma Programme, in Aditya Birla World Academy, Mumbai. I am very interested in Marketing and Business Management, also I am a music lover, and play 3 instruments too. Which is how I got the idea of BEATBAG. Since, having a bag (haversack) is a basic necessity for teens, as they need it for millions of purposes and with a bit of innovation, the idea of putting music features in the bag came into my mind, and soon I began developing a whole new bag with the features and marketing techniques outlined in thius research essay. Introduction: Beat Bag uses state of the art technology to make one’s life easier and more luxurious than ever. This is a kind of a bag that has two external speakers attached on the shoulder straps of the haversack. One can simply switch them on or off, increase the volume or even change the channel by using the control buttons attached on one of the shoulder strap of the bag. It allows the user to play loud music in the open or even attach earphones to an external earphone jack. All this is made just to make it more convenient for the teenagers, to listen to music wherever and whenever they want to, as they do not have to carry any extra speakers, mp3 players or iPods or evne any external power source is needed as it had an internal rechargeable battery with it. This haversack has been in the market since the...
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...e-Marketing Project : Option 2 Marketing is the life blood of any organisation. Outline and describe the process of marketing with particular reference to services marketing and outline a marketing plan for a services organisation. Introduction There are many complex definitions and ideas of what marketing actually is, but a simple and concise one is: Marketing is “the commercial processes involved in promoting and selling and distributing a product or service” (Dictionary.com). In the context of services marketing, there is no “out of the box” product, which can be just purchased by a potential customer, so the marketing process is slightly different; however, the same rules apply. In this project I am going to address a general description of the marketing process, a brief look at how some services companies do their marketing, with particular focus on the software solutions division of the global multi-national Accenture, for whom I previously worked, so I will be talking largely from personal experience when referring to them and the online auction site eBay, of which I am an extremely regular user, buying on average 2 items per week from their site. Finally, I will outline a short marketing plan for a fictional software development services company. I will conclude just how important marketing is to any services organisation. Main Body The Process of Marketing Step 1 – Market Research In first step in any process is nearly always information gathering...
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...MKT1111 Principles of Marketing Module Handbook Academic Year 2012/2013 Module Leader: Dr. Olga Mourouti Student Name: | | OR Student Number: | | Seminar Class Details: | Name of Seminar Tutor: | Day: | Time: | Room: | Principles of Marketing 1. WELCOME 2 2. CONTACT DETAILS 2 3. AIMS OF THE MODULE 3 4. LEARNING OUTCOMES 3 4.1 Knowledge 3 4.2 Skills 4 5. SYLLABUS 4 6. LEARNING METHODS 4 7. LEARNING MATERIALS & SUGGESTED TEXTS 5 8. LECTURE & SEMINAR SCHEDULE 9 LECTURE PROGRAMME 9 SEMINAR PROGRAMME 11 9. ASSESSMENT SCHEME 14 10. GUIDELINES ON HARVARD REFERENCING SYSTEM 26 11. INSTRUCTIONS FOR SUBMITTING YOUR WORK ELECTRONICALLY 27 12. ACADEMIC MISCONDUCT 27 13. REGULATIONS 28 14. MARKING SCHEME 29 15. GRADING SCALE 31 13. ASSESSMENT AND GRADING FEEDBACK FORMS 32 14. Lecture Slides 38 1. Welcome Welcome to Principles of Marketing. I hope you find this module a valuable learning experience. The challenges of providing superior customer value and gaining a competitive advantage have become crucial issues to a diverse range of companies. Delivering value and achieving a competitive advantage requires, among other things, a thorough...
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