...Principles of Marketing Project MKTG205-1302A AIU Online/ Unit 4 IP William K. Patterson II. 5-27-13 Principles of Marketing Project 1 When a person is considering selling a product there are many factors that must be added in, there are many steps that one must be familiar with if they choose to go about having success. There are no short cuts a person must know their research and have a good understanding on what the product is that they are working with as well as who they are trying to sell this product to and this process is called marketing. Marketing can be used in all walks and areas of life because it is simply value of a product, and or service being expressed to the buyers or customers. Marketing includes many factors from the selling and sales of a product to the overall strategy of the advertising of the product or service. Marketing does have a major influence on business today for it can mean the life or death or a product or even company. Being that if a product is not marketed properly either people will not be aware of the product or possible customers can get the wrong persecution of a product, which can deter them from being affiliated with the good or service. The product that I selected was the Rolex wristwatch. A man introduced this product by the name of Hans Wilsdorf. Wilsdorf has been known for the creation of one of the finest Swiss watches ironically he was a man from Kulmbach Germany, who opened Wilsdorf & Davis watchmakers...
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...Marketing Principles Table of Contents Introduction 1 Assignment 1 1 LO 2.1 show macro and micro environmental factors which influence marketing decisions 1 Assignment 2 3 LO 1.1 explain the various elements of the marketing process 3 LO 1.2 evaluate the benefits and costs of a marketing orientation for a selected organization 3 LO 2.2 propose segmentation criteria to be used for products in different markets 4 LO 2.3 choose a targeting strategy for a selected product/service 4 LO 2.4 demonstrate how buyer behavior affects marketing activities in different buying situations 4 LO 2.5 propose new positioning for a selected product/service 5 LO 3.1 explain how products are developed to sustain competitive advantage 5 LO 3.2 explain how distribution is arranged to provide customer convenience 6 LO 3.3 explain how prices are set to reflect an organization’s objectives and market conditions 6 LO 4.1 plan marketing mixes for two different segments in consumer markets 7 LO 3.4 illustrate how promotional activity is integrated to achieve marketing objectives 7 LO 3.5 analyze the additional elements of the extended marketing mix 8 LO 4.2 illustrate differences in marketing products and services to businesses rather than consumers 8 LO 4.3 show how and why international marketing differs from domestic marketing 8 Conclusion 9 References 10 Introduction Marketing can be described as the total number of activities involved in transferring of goods from producer to consumers...
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...------------------------------------------------- MKTG 210: PRINCIPLES OF MARKETING FINAL EXAM I. Multiple choice questions (40%) 1. ________ consists of direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships. a. Indirect-marketing b. Buzz marketing c. Guerrilla marketing d. Direct marketing e. Promotional marketing 2. For buyers, direct marketing is convenient, easy to use, and private. For sellers it is ________. a. a great tool for building customer relationships b. great to find customers that a firm might otherwise overlook c. a low-cost, efficient alternative for reaching their markets d. none of the above e. A, B, and C 3. Which of the following is NOT a form of direct marketing? a. face-to-face selling b. advertising c. telephone marketing d. direct-mail marketing e. none of the above 4. Ching sells organically grown produce. Often he will trade some of his produce for dairy products produced by other farmers. The sum of the values that others exchange is called a ________. a. price b. cost-plus price c. dynamic price d. common value price e. penetration price 5. Unlike the other 3Ps, price produces ________. a. revenue b. variable costs c. expenses ...
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...BBM104/05 Principles of Marketing Tutor-marked Assignment 1 (TMA 1 – 20%) Submission Date: 7 March 2014 Semester January 2014 BBM104/05 Principles of Marketing Tutor-marked Assignment 1 Instructions 1. TMA 1 covers Unit 1 and Unit 2. 2. TMA 1 contains 5 application questions 3. TMA 1 carries 20% of your final total marks 4. The assignment should be typed using Times New Roman, font size 12 and 1.5 spacing. Total word count should not exceed 3500 words. 5. The deadline for the submission of TMA is 7 March 2014. A softcopy of your TMA in Microsoft Word should be submitted via Online Assignment Submission System (OAS). 6. A softcopy of your TMA must also be submitted to your class Turnitin. Case Study Groupon: Helping Consumers with Purchase Decisions Source: Groupon Sdn Bhd, via www.groupon.com.my, University of Chicago graduate student, Andrew Mason was in a rut. "There's so much to do in Chicago," he explains,"but I found myself going to the same movie theaters and restaurants." To help people like him try new places, Mason started a website that offered coupons to large groups. He reasoned that people would try something new if the price was low enough, and that businesses would offer low prices if they knew they Sem: July 2013 Page 2 of 5 BBM104/05 Principles of Marketing could sell a large quantity. The result was Groupon, a company that offers "group coupons" in deal-of-the-day offerings for local or national businesses. Consumers...
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...American Intercontinental University Unit 3 Individual Project MKTG 205 – Principles of Marketing May 14, 2012 Abstract This paper gives an overview of distribution channels; Channel Levels such as: Direct vs. Indirect Channel Organizations such as Conventional Vertical, Horizontal and Multichannel Marketing Systems. It also, explains my target market needs at the here is also a brief description of how many channel members the company needs and why they need them. Overview of Distribution Channels The success of any business depends upon channel levels for getting products to market. First there is a direct channel and second there is an in-direct channel, both needs to exist for this to happen. The majority of companies can maintain their own using wholesalers and dealers. Which is a three channel system any more than three moves the company to in-direct marketers. This small Mexican food restaurant only requires the three channel system to operate with a positive cash flow. The distribution channels are for larger scale restaurants that distribute a Large amount of product. Products or services that are sold directly to the customers are direct channels which eliminate the middle man so to speak because there are no other companies that cut into the profit margin. When the business does not sell products...
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...Misty Greer American Intercontinental University Unit 3 Individual Project MKTG 205 – Principles of Marketing 14 September 2014 Abstract The product of fresh corn is a product that has a limited shelf life and distribution time frame. Choosing the most effective and profitable distribution channel is a challenging dilemma. The choice to use a direct or indirect distribution channel might feasible be the difference in selling all or only some of the product, and selling at a low or high price. The direction a producer decides to take has many variables including cost of distribution, and available markets. The decision to sell the corn supply using both methods is the most conceivable probability for this product. Introduction The product of fresh corn is a product that has a limited shelf life and distribution time frame. Choosing the most effective and profitable distribution channel is a challenging dilemma. The choice to use a direct or indirect distribution channel might feasible be the difference in selling all or only some of the product, and selling at a low or high price. A distribution channel is the avenue a product takes from producer to consumer. (Board, 2012) This avenue varies in length depending on the producer’s preference. There are two types of distribution channel available to producers, direct and indirect. The direction a producer decides to take has many variables including cost of distribution, and available markets. The decision to...
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...Myanmar Imperial College Marketing Principle Assignment front sheet Learner name Min Khant Aung Date issued 06.09.2013 Qualification Edexcel BTEC Level 5 HNC Diploma in Busin ess Completion date 10.10.2013 Assessor name Mr Ronnie Kywe Thiyan Submitted on 07.10.2013 Unit number and title Unite 1 – Marketing Principle F/601/0556 Assignment title Marketing Principle In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found. Criteria referenc e To achieve the criteria the evidence must show that the student is able to: Task no. Evidence 1.1 Explain the various elements of marketing process Evaluate costs and benefits of a marketing orientation for a selected organization. Show macro and micro environmental factors which influence marketing decisions. Propose segmentation criteria to be used for products in different markets Choose a targeting strategy for a selected product/service Explain how buyers’ behavior effects on marketing activities for “Green Villa” hotel 1 7-9 1.2 2 10 2.1 3 11-13 2.2 5 15 2.3 5 16 2.4 4 14 MIN KHANT AUNG Pg.1 Myanmar Imperial College Marketing Principle 2.5 Propose new positioning for a selected product/service Explain how products are developed to sustain competitive advantage Explain how distribution is arranged to provide customer convenience Explain how prices...
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...Marketing Principles Contents Introduction. 2 Task 1 3 L.O 1: Understanding the concept and process of marketing 3 A.C 1.1: Various elements of the marketing process 3 A.C 1.2: Cost and benefit of the marketing orientation of the selected organization. 4 L O 2: Using the concept of segmentation, targeting and positioning. 5 2.1: Micro and macro environmental factors that influence marketing decisions. 5 A.C 2.2: Segmentation criteria to be used for products in different markets. 6 A.C 2.3: Targeting strategy for a selected products and services. 7 A.C 2.4: How buyer behavior affects marketing activities in different buying situations. 8 A.C 2.5: New positioning strategy for a selected product and service. 9 LO 3: Understanding the individual elements in the extended marketing mix. 10 A.C 3.1: How products are developed to sustain competitive advantages. 10 A.C 3.2: How distribution is arranged to provide customer convenience. 11 A.C 3.3: How prices are set to reflect an organizations objectives and market conditions. 12 A.C 3.4: How promotional activities are integrated to achieve marketing objectives. 13 A.C 3.5: Additional elements of the extended marketing mix. 14 Task 2 15 LO 4: Using the marketing mix in different context. 15 A.C 4.1: marketing mixes for two different segments in consumer market. 15 A.C 4.2: Differences in marketing products and services to business rather than consumers. 16 A.C 4.3: How and why domestic marketing...
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...American Intercontinental University Unit 2 Individual Project MKTG 205 – Principles of Marketing By James Clemons The word (Segmentation) is one with a broad definition that is both in-depth and somewhat simple all at once. The word Segmentation in brief means to separate, divide, and move apart or to section off, but when we apply the word to market it becomes a whole new creature. Market Segmentation according to Fennell, G., & Saegert, J. (2000) is the practice in which those in marketing seek to identify those groups, and segments of consumers that have some shared characteristics, and/or similar that include likes and needs so that they become the focus for the services or products that the company/business have to offer. There are quite a few forms of market segmentation here is a look at three that are used frequently. 1) Demographic Segmentation- this is said to be by far the “most popular and prevalent form of segmentation” (Wells, Victoria K.; Chang, Shing Apr-Jun2010) here consumers are placed on what are called “definite measurable scales” that would make it easy for both consumers and marketers to understand (Beane & Ennis, 1987). In other words people are placed or broken down in categories or groups Some of the demographics included, but are not limited to an age group, a race, a sexual gender, those that may be obesity, and those that are under weight. So as you can see this would cover a wide range of individuals, and situations...
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...Marketing Principles Unit 1 Task 1 History Of Marketing The concept of Marketing that we see today is following the developments of the Industrial Revolution (This transition included going from hand production methods to machines - 18th and 19th century) which was a period of rapid social change. Mass production, developing transport infrastructure and growing mass media meant that producers needed to, and could develop more sophisticated ways of managing the distribution of goods. Marketing Orientations There are 4 main marketing orientations: Product Orientation –. An organisation would make a product and sell it without finding out if the customer wants or needs it. However the organisation will be very interested in making sure the product is high quality and good price. This is then likely to produce sales as the customer will be getting a good quality product. The company always needs to ensure there product maintains its quality and if at any point their quality drops they will lose customer loyalty. Although as markets grow and competitors start coming in to the picture this can work as a disadvantage:- Henry Ford Stated, that "Any customer can have a car painted any colour that he wants, so long as it is black." This was because in 1908 Henry had begun making Ford model T. He became the most successful car manufacturer and realised because demand was so high, customers were buying what was produced rather than demand anything different. He also didn’t want to...
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...This essay identifies and discusses the appropriate market segmentation criteria for manufacturer of household furniture for homes. Firstly, the terms of marketing and marketing segmentation will be defined. The discussion will dwell on the step of market segmentation which are the bases for segmenting consumer market, this include the geographic base, demographic base, psychographic base and behaviorist base. The easy will also explain how marketers can cover the whole market through undifferentiated, differentiated and concentrated marketing. Lastly, in conclusion, will summarize on how a manufacturer of household for homes segments the market. Marketing is the one key functions of management which is largely concerned with what is going out of the organization than what is happening internally. Marketing involves a set of well integrated activities in which the organization resources are directed to opportunities in the environment and these opportunities include: customer needs, technological breakthrough and failures of competitors. Kotler, P (2003) defines marketing as a process of planning and executing various activities including pricing, promotion, distribution with the aim to create exchange that satisfy individuals and organizational goals. The social definition of marketing is the process by which individuals and groups obtain of what they want and need through creating, offering and freely exchanging products and services that are value to others. According to...
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...Principles of Marketing Executive Summery Marketing principles influences largely on the activities of a business firm. The marketing principles focus on the key principles, functions and practices. These help the business firm or a company to compete effectively in the market in the ever changing trend to ensure profitability and growth. Through market research and analysis, the market is being categorized according to the business need. The marketing environment influences the business activities. Market segmentation divides the market to reach the customers properly. How the internal and external factors influence on the business strategies, how to set a positioning map, how to analyse competitors etc. have been discussed in this assignment. Contents Principles of Marketing 1 Executive Summery 2 Introduction 4 P1 Explaining the various elements of the marketing process using the key elements from the case 5 P2 Evaluating the benefits and costs of a marketing orientation. 7 P3 Macro and micro environmental factors which influence marketing decisions 8 P4 Proposing segmentation criteria to be used for products in different markets 9 P5 A targeting strategy for a selected product/service. 10 P6 Demonstrating how buyer behaviour affects marketing activities in different buying situations. You may draw your answers from the factors identified in case above. 12 P7 Proposing new positioning for a selected product/service. 13 P8 Explaining how products...
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...Assignment Name : HND IN MARKETING PRINCIPLES Student Name : IGOR Student ID : XXXXX Semester : XXXXX CONTENTS PAGE Introduction 02 A Brief Overview of Nike, Inc. 02 A Brief History 02 Section LO1 - Process of marketing 03 Elements of marketing process 03 Costs and benefits of marketing 04 Section LO2 - Segmenting, Targeting and Positioning 05 Macro and Micro environments factors that influence marketing 05 Segmenting strategies 05 Targeting strategy 06 Buyers’ behaviour activities that affect marketing 07 Positioning strategy 07 Section LO3 - Marketing Mix 08 Extended marketing mix 08 Product development and sustainable competitive advantage 09 Distribution strategy 09 Pricing strategy 09 Promotional strategy 10 Section LO4 - Marketing Mix in different context (activity) 11 Planning marketing mix for two different segments in consumer markets 11 Marketing products and services for B2B markets 11 International marketing strategy 11 Credits and references 12 A BRIEF OVERVIEW OF NIKE, INC. Nike, Inc. is a major publicly traded sportswear and equipment supplier based in the United States. The company is headquartered near Beaverton, Oregon. It is the world's leading supplier of athletic shoes and apparel and a major manufacturer of sports equipment with revenue in excess of US$18.6 billion in its fiscal year 2008 (ending May 31, 2008). As of 2008, it employed more than 30,000 people worldwide...
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...Principles of Marketing Timothy Emmons BUS 330 Instructor Charles Jarrell March 14, 2011 Harley Davidson an American Icon Marketing is about influencing people or consumers to use your product and to keep them coming back. There are many industries that utilize marketing and advertising to make revenues. The art of turning a dollar and leaving a consumer with the feeling they truly gained something from the exchange is good marketing. The motorcycle industry has accomplished a marketing strategy that has proven very successful for many years. The motorcycle I am most interested in is specifically the Harley Davidson. Motorcycles bring about a sense of freedom from the daily grind of work, administration, and other worries. People want to own a motorcycle as the feel of the open road and sense of freedom envelopes you as the wind rushes over your body. In many circles there are car clubs and car owners that hold to their brand of choice but there are none more brand specific then a Harley owner. There are a lot of considerations to purchasing a motorcycle and one is a sense of belonging to something or a group larger than yourself. In 1901 a young twenty-one year old man named William S. Harley designed and blue printed an engine that would fit onto a bicycle frame. He partnered with Arthur Davidson his boyhood pal of many years in working towards their dream and goal of manufacturing an American made motorcycle that would be different than any other out on...
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...Principles and Strategies of Marketing Marketing is a form of communication to promote a brand or product as well as a process of identifying customers’ needs and wants to ensure that the customer is satisfy. Businesses market their brand to gain reputation, sale and opportunities, the strategies of marketing for each of the business differ from one to another, each have different approach and ways of marketing their products or services to suit their target market at the best possible way for example: Costa Costa is a well-known coffee chain organisation, with partnership in over 29 countries around the world. This organisation is so recognisable with the use of their red colour and large bold letter of the organisation on their products and shops. This is a very smart way of marketing their brand as their logo is easy to identify as when they’re appearing with customer who bought the products, this means that they’re using the public to advertise for them as that customer is holding their logo around. This method of promotion is called “Public relations” because it’s involve around using public to market for instance, people would immediately know that costa is located nearby as they’ve seen people walking around with it, which could potentially attract that person to visit the store. This way of communication toward the public member is linked to “AIDA” as their logo attract other customer attention, which then lead to gaining their interest, and then potentially the desire...
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