...Marketing Paper What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organizational objectives American Marketing Association The management process responsible for identifying, anticipating and satisfying customer requirements profitably UK Chartered Institute of Marketing To satisfy individual customers, is tackled by using the marketing mix (4Ps) - product - price - place - promotion For services, is has been suggested that a further 3Ps be added: 1. People 2. Physical Evidence 3. Process People – add value and dimension – service quality. The original mix considers personal selling but not the operational aspects of service delivery. - Personnel – training commitment, incentives, appearance, interpersonal behaviour - Attitudes - Customers – Other customers, behaviour, degree of involvement - Body Language also has an impact (posture, gestures, eyecontact, tone of voice, promixity) Processes – How overall system operates - to be consistent and predictable - Policies and Procedures - Degree of automation - Employee discretion - Customer involvement - Flow of activities Physical Evidence – i.e. type of hotel or aircraft. Physical elements to support the core concept: - Environment – furnishings, colour, layout...
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...Marketing Paper Juan Rangel MKT/421 Marketing Paper Marketing has always played a large role on the choices that consumers make when deciding on the brands of products that are integrated into their life, but how important is marketing for an organization. Understanding marketing and its history aids when further analyzing the importance of marketing on different types of organizations. According to Bartels (1988) “The establishment of a market economy wrought marked changes in the social and economic structure. A new attitude toward business revolutionized the economy of the country and that revolutionary element was identified by the term “marketing.‟ Historical accounts of trade lead one to conclude that marketing has always existed (p. 1). The fact that marketing has always been present allows for a timeline of the evolvement of marketing and the affects of marketing on innovation and the standard of living. But this still leaves the question of, how should marketing be defined. What is marketing? “Marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to customer or client” (Perreault, Cannon, & McCarthy, 2011, p. 5). This just means that marketing may be applied to different types of organizations, such as for profit organizations and non-profit. The meaning also identifies that the main objective...
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...Marketing Paper Lolita M. Ndidi MKT/421 March 03, 2014 Dr. Geraldine Goodstone Defining Marketing Marketing is what organizations use to reach our customers, interact with the customers and sell their products for business growth. Organizations performance and how well they do can be determined on how good their marketing team is. Marketing is not as simple as this description suggest on its own. The term "market," as a noun, refers to all the current and potential consumers or businesses that would use a company's products. Markets can be very diverse and consist of many characteristics. The business owner must locate viable markets for the company's products, apprise consumers of its wares and services and make products available to them. A market typically consists of a number of sub-groups that a company must identify as its key buyers. [ (Suttle, 1999-2014) ] 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 4 P's of marketing: (1) Identification, selection and development of a product, (2) Determination of its price, (3) Selection of a distribution channel to reach the customer's place, and (4) Development and implementation of a promotional strategy. [ (WebFinance Inc, 2014) ] Marketing is a very important aspect in business since it contributes greatly to the success of the organization. Production and distribution depend largely on marketing...
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...Marketing Project Juan G Martinez Jr October 18, 2013 Marketing Management 522 Professor Ken Ninomiya 1.0 Executive Summary 2.0 Situation Analysis At this present time, the tutoring industry is not showing any signs of slowing down as the number of students in school continue to grow. It is also important to point out that as the number of students increase, so does the concern of the parents that seek tutoring for their children. According to the U.S. Department of Education, the number of students who were attending public and private schools was at approximately 75.9 million as of the fall of 2010. The current trend is showing that the number of students attending school will continue to increase at a rate of approximately 6% per year through the year 2019 (Digest of Education Statistics 2010). According to an article that went over the best industries to start a business, the tutoring and exam preparation industry was rank seventh as it relates to the fastest-growing industries that are hospitable to small business. It was also indicated that the year-over-year growth rate of this industry was measured to be at 7% (Lagorio-Chafkin 2010). However, there is an opportunity that has not clearly been taken advantage of to its fullest potential within the tutoring industry. As of the fall of 2010, there were approximately 20.6 million people who are enrolled in college with the trend demonstrating an increasing rate of students attending at 14% (Digest of Education...
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...multiple product strategy. Because it have several types of products like Lipton yellow label tea, Lipton ice tea, and Lipton green tea. Lipton is currently using total market strategy. Their tea bags and tea packs are available in every market. But there is market for ice tea in some parts of country where it is not available. Ice tea should adopt multi market strategy to cover those areas where its demand. Market Geographic Strategy: We are using International Market Strategy to achieve growth objective. Market Commitment Strategy: They are focusing on strong commitment strategy to operate in market optimally by realizing economies of scale. Marketing strategy: Various advertisement means are used by company to advertise their product and they are given below: Print Media Billboards Free samples They are using news papers for advertisements along with others are billboards and banners. So these are means of advertisement which are used by company to advertise their product. The Business Business Detail Products/services: LIPTON® Tea offers you a large selection of ways to enjoy refreshing, great tasting teas. Choice is a wonderful...
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...Toyota (Chapter 1) Overview. This case concerns the systems used by Toyota to become the third largest automobile manufacturer in the world. The case illustrates how this organization strives to serve customers and achieve a profit. The case intentionally emphasizes features of Toyota's manufacturing system, rather than its marketing strategies per se, to show how the whole organization is focused on serving customer wants and needs, not just the marketing department. Suggestions for Discussion Questions 1. In what ways is Toyota's new-product development system designed to serve customers? There are a number of features to this system that make it customer oriented. The Toyota system responds more quickly than competitors, allowing the company to correct any mistakes and react to market trends faster than competitors. The system has a chief engineer responsible for the product from design to marketing. This may allow consumer research to function as a direct input into engineering specifications rather than become a secondary concern after the product is designed. Since the corporate philosophy is to serve customers, consumer inputs are more likely to be used develop better new products. 2. In what ways is Toyota's manufacturing system designed to serve customers? There are a number of features in Toyota's manufacturing systems that are designed to serve customers, including the following features. Employees, even on the assembly line, are trained to consider their...
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...Executive Summary This following marketing plan is in reference to the production of Arimount’s “Fresh&Free” deodorant. Arimount is planning to launch this new deodorant product next year; the launch of the deodorant will coincide with the start of the National Football League (NFL) season. The “Fresh&Free” deodorant contains a new chemical ingredient that will allow the deodorant to work for up to 5 days, even after showering. This concept and goal of the marketing plan is to provide the community with a product that leave them fresh and free from the normal routine of applying deodorant daily and in some case two or three times a day. Arimount plans to introduce the product via NFL players during the start of the NFL season, because their everyday way of living and job position, requires them to work up large amounts of perspiration. The company also plans to intensify their customer awareness during the week of the Super Bowl, via advertising, sales campaigns, and direct marketing. Arimount has been in the hygiene industry for over 20 years and they average on their return investments yearly, the goal for next year is to top the market share with this innovative product. Situation Analysis Arimount has been in business for several years, they have remained successful at offering hygiene products throughout the years, but they need to develop a structured marketing plan to further develop their brand awareness and mature their current customer base. Arimount...
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...Marketing plan template Use this template to guide you through writing your own marketing action plan. Introduction What are the main objectives you want your marketing action plan to achieve for your business (ie, more sales, more customers, greater market share, etc – try to be specific)? | | | | 1. Your market 1.1 Who are your customers? Answer the following questions: • Who are your existing customers? • What are their needs? • What motivates them to buy your offer? • Can you separate your customers into different groups of people with different needs or motivations? • Are there people who aren’t currently customers but could benefit from your product or service? | | | | 1.2 Who are your competitors? Answer the following questions: • Who are your competitors (NB, think about your direct competitors – ie, businesses who are selling a similar offer: and your indirect competitors...
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...1. Select one of the following products listed below. First, list your assumptions about how the sales force is organized. Second, describe what the selling process would look like when selling these products in relation to the first foursteps in the selling process (pp.13-16).Please be specific in describing the activities involved in the selling steps, i.e. what information would you collect and how/where would you get it? * Large computersystems that cost millions of dollars sold to a large manufacturer * Copiers that cost $5000 sold to a law firm * Campbell’s soup sales sold to a grocery chain * PVC pipe fittings sold to a plumbing distributor Ans: The product selected is Campbell’s soup sales sold to a grocery chain. The sales force is organized in a geographical structure in this case as the company can keep a track which area is purchases which product or soup is in majority. The first four steps of selling process: * Prospecting: The company will research and look for a wholesale markets or departmental stores where the product is easily accessible to people. The company can make formal or informal visits to stores and can survey on the number of people who purchase soup on a regular basis. * Pre- Approach: The company can research on the competitor companies and the products they are selling. This will help Campbell to expand more in variety, flavors etc. * Approach: This will involve in getting the customers attention....
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...History of Pier 1 According to the company’s website, Pier 1 began its company in 1962, with a single store in San Mateo, California. In 1970, Pier 1 went public and became listed on the American Stock Exchange under the symbol PIR. During this time, Pier 1 had 123 stores and celebrated 100 percent sales gains for four consecutive years. Presently, Pier 1 operates in more than 1000 locations globally (13). Mission and Goals of Pier 1 Based on the company’s annual report, Pier 1’s mission and goals are to expand its customer base and maximize sales and profits (5). This retailer aims to create a sensory environment that encourages customers to have fun shopping for their homes. Products and Services Pier 1 Offers When analyzing the company’s website, Pier 1 offers a wide selection of home furnishings, such as sofas, chairs, tables, etc. This bricks to mortar and online retailer also offers a unique selection of decorative accessories and gifts for all holidays and seasons (13). Growth Strategies of Pier 1 A product market matrix (Appendix 1) for Pier 1 reveals that this retailer has an aggressive growth strategy. Market penetration is used by this firm offering rewards cards, coupons, and special sales to loyal customers. Market development is used through the e-commerce website and new store openings. Product development is used by designing new furniture, such as table and shelves. Lastly, diversification is used by offering seasonal items. Financial Status...
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...Technology Ventures Prompt: Rutgers professors have invented a novel method for real-time tracking of the position of 3D wireless transmitters in indoor environments. It provides positioning software and core tracking services for various wireless technologies, including WiFi, ZigBee as well as active RFID tags. The unique combination of hardware and software works with minimal human effort. Users can begin tracking devices on their existing wireless networks by simply placing a few Kortrax landmarks in their building. No additional set up is required. 1. What problem(s) likely led to recognition of the technology? Provide a full market understanding for one of the problems you identify - be sure to discuss the nature of the problem - and describe the technical understanding that made this invention possible. (50 Points) (2 pages, single-spaced max.) Problem There were several underlying issues that created a need for this 3D tracking Wireless technology, which dealt mostly with the lack of efficiency in certain environments. Wireless technologies already aide in improving efficiencies—for example, the use of RFIDs by Walmart has immensely helped manage its inventories and overall, improve its supply chain. However, there is a large gap in accurately tracking their inventory in each phase, especially in an indoor environment. To offer a better example of this problem, it will be helpful to look at how this tracking technology affects the emergency services and hospital...
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...WHOLESALE PRICE LIST REPRESENTATIVE PRICING FOR REMY SIZE KILO BAG SUGGESTED RETAIL/PER BAG 10” $500.00 $50.00 $70.00 12” $550.00 $55.00 $75.00 14” $600.00 $60.00 $80.00 16” $650.00 $65.00 $85.00 18” $700.00 $70.00 $90.00 20” $750.00 $75.00 $95.00 22” $800.00 $80.00 $100.00 24” $850.00 $85.00 $105.00 THESE PRICES ARE BASED ON THE SALONS PLACING AN ORDER OF AT LEASE A KILO PER WEEK KILOS CAN BE MIXED AND MATCHED TO SATISFY YOUR SPECIFIC NEEDS OUR COMMON STOCKED ORDERS ARE THE FOLLOWING: LENGTHS, COLORS AND STYLES 1. LENGTH-12 INCHES THRU 18 INCHES 2. COLORS-1, 1B, 2, 4 3. STRAIGHT, BODY WAVE, KINKY CURLY ORDERS OUTSIDE OF THIS BASIC ORDER MUST BE PRE ORDERED AND CAN TAKE UP TO 10 DAYS FOR DELIVERY DEPENDING ON THE ORDER DUE TO THE FACT THAT THEY ARE BEING SHIPPED FROM INDIA. A DEPOSIT OF 50% MUST BE MADE IN ORDER TO SECURE SPECIAL ORDERS. DEPENDING ON THE SIZE OF THE ORDER AND THE NATURE OF OUR RELATIONSHIP WE CAN MAKE ANY ADJUSTMENTS! JUST ASK! WHOLESALE PRICE LIST REPRESENTATIVE PRICELIST FOR VIRGIN SIZE KILO BAG SUGGESTED/RETAIL PER BAG 10” $800.00 $85.00 $115.00 12” $850.00 $90.00 $125.00 14” $900.00 $95.00 $135.00 16” $950.00 $100.00 $145.00 18” $100.00 $105.00 $155.00 20” $1050.00 $110.00 $165.00 22” $1100.00 $115.00 $175.00 24” $1150.00 $120.00 $185.00 THESE PRICES...
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...Using Perceptual Maps in Marketing Simulation Summary The Business world is constantly thinking of innovative ideas to accomplish the goal of having an ample amount of information for current and future marketers. Subsequently marketing students were specifically instructed to complete the simulation, Using Perceptual Maps in Marketing, located on University of Phoenix’s student website. I prepare to address the three major phases: the situation; my recommended regarding why I recommended those solutions; and my results and describe them. I summarize the different marketing components addressed in the simulation by answering the following questions: * What is the relationship between differentiation and positioning of products or services? Is the repositioning of the product in the simulation as you had expected it to be? Explain why or why not. I also summarize the different marketing components addressed in the simulation by answering the following questions: * What is the effect of the product life cycle on marketing? What effect did the product life cycle have on the product in the simulation? Using the information obtained from the Using Perceptual Maps in Marketing Simulation (UPMMS) results in a thriving business. Address and describe the three major phases: The situation; Your recommended solutions, including why; and Your results First, obviously addressing the major phase the situation related to the UPMMS is a major ordeal. “CruiserThorr hired me...
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...Title: Marketing Plan Subject: Marketing UB No: 12032961 Name: David Oak STATEMENT OF AUTHENTICITY: I certify that this assignment is the result of my own work and does not exceed the word count mentioned below Word Count: 3706 (Excluding references, bibliography, executive summary, graphs, tables and titles) * Table of Contents 1 Terms of Reference 3 2 Executive Summary 3 3 Business Mission 3 4 External Marketing Audit 4 4.1 Macro environment 4 4.1.1 Political 4 4.1.2 Economic 5 4.1.3 Social and Cultural Forces 5 4.1.4 Technology 7 4.1.5 Ecological 7 4.1.6 Legal 7 4.2 Microenvironment 8 4.2.1 The Market, Suppliers, Customers and Substitutes 8 4.2.2 The Competition and threat of new entrants 11 5 Internal Marketing Audit 14 5.1 Operating Results 14 5.2 Strategic Issues Analysis 15 5.3 Marketing Mix Effectiveness 17 5.4 Marketing Structures and Systems 19 6 SWOT Analysis 19 7 Marketing Objectives 20 7.1 Strategic Thrust 20 7.2 Strategic Objectives 21 8 Core strategy 21 8.1 Target Markets 21 8.2 Competitor targets 24 8.3 Competitive Advantage 24 9 Marketing Mix Decisions 25 9.1 Product 25 9.2 Promotion 27 9.3 Price 28 9.4 Place 30 10 Budget 32 11 Organization and Implementation 35 12 Control 35 13 Reflexive Account 37 14 Appendix 39 15 References 43 Terms of Reference This marketing plan...
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...Executive Summary Ssu Hsieh MAB 6110 Marketing and Brand Management Sign Treatment Totality focus on attacking multiple signs of aging and helps the skin to retain its youthful look with advanced technology. Therefore, the best segment of population is women among the age of 30 to 40 with interest in preventing future aging, and repairing the existing wrinkles. Sign Treatment Totality will position itself as a premium high end priced anti aging cream by leveraging the competitive advantage; the unique and all natural ingredients, non invasive advanced technology and brand reputation. Anti aging cream is in high demand among aging population, moreover natural ingredient cosmetics are in trend now, even though this is a monopolistic industry, not many of them manufacture all natural ingredient anti aging cream at the Sign Treatment Totality level. Based on the market survey, there's a great demand for the product. Thus, this provides an extraordinary opportunity for Sign Treatment Totality market growth. Sign Treatment Totality will continue to gain and grow market share through a strong business model, long-term planning and a strong management team that is able to execute this opportunity. The message Sign Treatment Totality seeks to communicate is that, it's all natural ingredients coupled with advance technology to offer the best skin care product on the market. Several different advertising, promotion methods and public relations will be used to target the only market...
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