...ASB-1104 Introduction to Marketing Assignment 1 In view of the dynamic nature of the marketing environment, to what extent do you consider consumers to be, in practice, central to marketing activities? Name: ZHUOMING AN Student No: 500356688 Tutor: David James Introduction What is marketing? The answer is not changeless. There are some different definitions about marketing. The Chartered Institute of Marketing define that "Marketing is the management process responsible for identifying, anticipating and satisfying consumers' requirements profitably." (CIM). Taking a concern into this definition, it indicates that marketing begins before a product or service is developed. In additional, it also explain that marketing involves identifying an unsatisfied consumer need or want and determining if a profitable opportunity exists. Another definition is that “A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others." (Kotler et al., 2005). The basic idea of this definition is that core to all marketing activities is customer satisfaction, which means marketing is an ongoing process as consumer demands and the environment is constantly changing. Products need to adapt as demands change. At the same time, marketing does not involve misleading, tricking or manipulation the customer. The Jobber also define the marketing is "The achievement of corporate goals through meeting...
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...A high-level data model in business or for any functional area is an abstract model that documents and organizes the business data for communication between functional and technical people. It is used to show the data needed and created by business processes. A data model in software engineering is an abstract model that documents and organizes the business data for communication between team members and is used as a plan for developing applications, specifically how data are stored and accessed. An entity-relationship model (ERM) is an abstract conceptual data model (or semantic data model) used in software engineering to represent structured data. There are several notations used for ERMs. Methodology: 1. Use E-R model to get a high-level graphical view of essential components of enterprise and how they are related 2. Then convert E-R diagram to SQL DDL, or whatever database model you are using E-R Model is not SQL based. It's not limited to any particular DBMS. It is a conceptual and semantic model – captures meanings rather than an actual implementation The E-R Model: The enterprise is viewed as set of * Entities * Relationships among entities Symbols used in E-R Diagram * Entity – rectangle * Attribute – oval * Relationship – diamond * Link - line Ellipsis (plural ellipses; from the Ancient Greek: ἔλλειψις, élleipsis, "omission" or "falling short") is a series of dots that usually indicate an intentional omission of a word, sentence...
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...Defining Marketing Paper ShuMikki Stinson MKT/351 Thomas Collins August 26, 2013 Marketing is a tool that can help business owners to prosper with their product. Marketing can be defined as an instrument that is helpful to individuals to promote their goods in their unique way that other people items would not be an eye-catcher. It is vital to know that the key thing for every marketing tool that the individual uses will be used for the proper reasons. By the individual using marketing tools in the proper way, the individual will reach their marketing level in which they wish to be at. There are side effects when it comes to the marketing tools and the techniques which they do not work properly as it was intended too. There are numerous of definitions that relate to the marketing field. According to William D. Perreault, the author of Basic Marketing, the best definition of 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. (William D. Perreault, 2011). Marketing is important because it can be a benefit for a business or a hardship. Respectable marketing methods can make a transformation between a concrete upsurges in sales to an impasse circumstances on a quality merchandise. Marketing can be as simple as having a general conversation, which is usually the case in the long run. Marketing is vital...
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...Omar Rochell Marketing MKT/421 April 7, 2011 Nikki Jackson Introduction Marketing is exposed to someone every day, even when they do not seem realize it. Driving down the roads you see billboards everywhere and that is part of marketing. Logos people were on their shirts and signs in the middle or on the sign of football fields are all part of marketing. Even when a child is marketing themselves to their parents to borrow the car or go to a party they are marketing themselves to their parents in exchange for the car or the party. A set of activities that will benefit both parties’ objectives is my own personal definition of marketing. This paper will be defining marketing in different perspectives. Discussing the importance of marketing in a organizational success will also be discussed with examples included from different organizations. As an organization it is important to know what marketing is and how to establish success. What is Marketing “Marketing is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that will have value for customers, clients, partners, and society at large.”(American Marketing Association, 2011) Marketing is a process that helps links the consumer, customer, and public to information that will help identify and market opportunities. Marketing research will generate, and evaluate different types of market actions, monitor marketing performance, and help improve...
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...focus inward on the organization’s needs instead of outward (the customer’s needs). • Product is aimed at everyone. • Firms want to profit through maximizing sales volume. • Promotion to achieve goals. 2. Describe some of the characteristics of a firm that would follow a marketing orientation. Marketing orientation is “a philosophy that assumes that a sale does not depend on an aggressive sales force but rather than on a customer’s decision to purchase a product; it is synonymous with the marketing concept.” • Unlike sales orientation, a firm would focus outward on the customers wants and needs. • The goal of a firm is to satisfy customers wants and needs and delivering superior value. • The target is specific groups of people. • Where sales orientation profits by sales volume, marketing orientation firms profit with good feedback from customers or customer satisfaction. • It’s more about marketing and less about selling (less persuasion). • Firms identify what customers want and have businesses give them what they want efficiently. 3. In what ways does McDonald's embody both a marketing and a societal marketing orientation? Do some internet research if necessary. McDonald’s embodies a marketing orientation...
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...customer-focused and heavily committed to marketing. These companies share a passion for understanding and satisfying customer needs in well-defined target markets. They motivate everyone in the organization to help build lasting customer relationships based on creating value. Marketing is just as important for non-profit-making organizations as it is for profit-making ones. It is very important to realize that at the heart of marketing is the customer. It is the management process responsible for identifying, anticipating and satisfying consumer requirements profitability. Background The term ‘‘marketing’’ is derived from the word ‘‘market’’, which refers to a group of sellers and buyers that cooperate to exchange goods and services. The modern concept of marketing evolved during and after the revolution in the 19th and 20th centuries. During that period, the proliferation of goods and services, increased worker specialization and technological advances in transportation, refrigeration and other factors that facilitate the transfer of goods over long distances resulted in the need for more advance market mechanisms and selling techniques. But it was not until the 1930s that companies began to place a greater emphasis on advertising and promoting their products and began striving to tailor their goods to specific consumer needs. By the 1950s, many larger companies were sporting entire marketing departments charged with devising and implementing marketing strategies that would complement...
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...MARKETING PLAN RESEARCH DEFINITION: A marketing plan is a business document written for the purpose of describing the current market position of a business and its marketing strategy for the period covered by the marketing plan. Marketing plans usually have a life of from one to five years. PURPOSE: The purpose of creating a marketing plan is to clearly show what steps will be undertaken to achieve the business' marketing objectives. CONTENT OF MARKETING: A marketing plan for a small business typically includes Small Business Administration Description of competitors, including the level of demand for the product or service and the strengths and weaknesses of competitors. 1. Description of the product or service, including special features 2. Marketing budget, including the advertising and promotional plan 3. Description of the business location, including advantages and disadvantages for marketing 4. Pricing strategy 5. Market Segmentation The main contents in marketing plan are: * Executive Summary Brief statement of goals and recommendations based on hard data. * Environmental Analysis Presents data on the market, product, competition, distribution, macro-environment. (Product fact book) S.P.I.N.S. Situation “Where am I”, Problem identification/Implications “What is happening”, Needs Assessment “Why is it happening”, Solutions “What can I do about it” Market Situation: Data on target market, size and growth for past years...
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...Marketing MKT 421 Marketing According to “American Marketing Association” (2013), “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customer, clients, partners, and society at large.” The American Marketing Society has grown to be the largest marketing associations in the world. The members work, teach, and study in the field of marketing across the globe. Another definition of marketing is according to “About.com Investors” (2013), “Marketing is an activity. Marketing activities and strategies result in making products available that satisfy customers while making profits for the companies that offer those products.” Organizations success lies in marketing and it is the heart of the success. The marketing introduces a product or service to potential customers. An organization can offer the best service or product in the industry but the potential customers would not know about it without marketing. Sales could crash and organizations may close without marketing. For a business to succeed the product or service that is provided needs to be known to the potential buyers. Getting the word out is important part of marketing in any organizational success. Product or service awareness is created by marketing strategies. If marketing is not used the potential customers will never be aware of the organizational offerings and the organization will not have the opportunity to succeed...
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...chapter 1 Marketing’s Role in the Global Economy When You Finish This Chapter, You Should 1. Know what marketing is and why you should learn about it. 2. Understand the difference between micro-marketing and macro-marketing. 3. Know why and how macromarketing systems develop. 4. Understand why marketing is crucial to economic development and our global economy. 5. Know why marketing special— ists—including middlemen and — facilitators—develop. 6. Know the marketing functions and who performs them. 7. Understand the important new terms (shown in red). www.mhhe. When it’s time to roll out of bed in the morning, does your General Electric alarm wake you with a buzzer—or by playing your favorite radio station? Is the station playing rock, classical, or country music—or perhaps a Red Cross ad asking you to contribute blood? Will you slip into your Levi’s jeans, your shirt from L. L. Bean, and your Reeboks, or does the day call for your Brooks Brothers interviewing suit? Will breakfast be Lender’s Bagels with cream cheese or Kellogg’s Frosted Flakes—made with grain from America’s heartland—or some extra large eggs and Oscar Mayer bacon cooked in a Panasonic microwave oven imported from Japan? Will you drink decaffeinated Maxwell House coffee—grown in Colombia—or some Tang instant juice? Will you eat at home or is this a day to meet a friend at the Marriott-run cafeteria—where you’ll pay someone else to serve your breakfast? After breakfast, will you head off to school...
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...Abstract In the world of today with rude competition everywhere, customers’ expectations have become higher than ever. It is not the customers who come towards the products but it is the products which should make their way to the customers. And for this, only competitive businesses that are able to stimulate customers’ interests survive in the market. Therefore firms need to increase customers’ awareness about their products or services to be able to pull and encourage them to engage in purchase of their products. And as such, the promotional mix used by a company is really important for this task. The promotional mix in itself is very broad, consisting of various tools, like advertising, personal selling, direct marketing, public relation and sales promotion. To make the optimum use of these tools, marketers usually select them, depending on their budget and objectives, as well as the sector in which they operate (Kotler & Armstrong 1997). As such, research has been conducted on the use of promotional mix and research questions and objectives have been set. The methodology which will be used has been devised. We shall be doing a descriptive study through a survey questionnaire, in which there will be open as well as close ended questions and the questionnaire will be administered through personal interview that is direct, face-to-face. The sample size will be 100 persons and will all be customers of J Kalachand & Co Ltd. After the research, we will be...
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...Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and providing superior customer value. From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. Organizations may choose to operate a business under five competing concepts: the production concept, the product concept, the selling concept, the marketing concept, and the holistic marketing concept.[1] The four components of holistic marketing are relationship marketing, internal marketing, integrated marketing, and socially responsive marketing. The set of engagements necessary for successful marketing management includes capturing marketing insights, connecting with customers, building strong brands, shaping the market offerings, delivering and communicating value, creating long-term growth, and developing marketing strategies and plans.[2] Marketing may be defined in several ways, depending on...
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...oriented philosophy is so important. The phrase market-oriented is used in marketing conversations as an adjective describing a company with a marketing orientation. Market orientation more describes the company's approach to doing business. Market-oriented defines the company itself. If a company is market-oriented, its board and executive leadership believe that the best way to succeed is to prioritize the marketplace above products. This usually goes over well with customers, but the company also must have adequate research and development to provide what the market wants. Hence, a market-oriented organization is one whose actions are consistent with the marketing concept. Difference Between Marketing Orientation & Market Oriented by Neil Kokemuller, Demand Media http://smallbusiness.chron.com/difference-between-marketing-orientation-market-oriented-14387.html Marketing is a management process and management support for marketing concept is very important element in success. If a company wants to be successful then it is market oriented. Marketing involves identifying the customer requirements and estimate the customer requirements in future. It requires planning which is very important process of marketing. To satisfy the needs the business should provide benefits – offering right marketing at right time at right place. Generally market based companies adopt strategic level marketing that defines the mission and long term objectives of the company. Market oriented...
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...Assessment: MKC1 Market Environmental Variables Reading: Contemporary Marketing: Chapter 3 Questions: 1. How would you categorize Generation X using the five segments of the marketing environment? A: Competitive Environment B: Political-legal environment C: Economic environment D: Technological environment E: Social-cultural environment 2. Joe and Ryan both have storefronts in the local mall. Joe sells candies and Ryan sells pretzels. Are Joe and Ryan in direct competition with each other? A: Yes B: No Consumer Behavior and Marketing Reading: Contemporary Marketing: Chapter 5 Questions: 1. Rachel and Sarah’s parents always purchased groceries from the local Aldi marketplace. What is this type of behavior an example of? A: Cultural influences B: Social Influences C: Personal factors 2. Maryanne purchases Maxwell House coffee every two weeks from the grocery. What is this type of behavior an example of? A: Routinized Problem Solving B: Limited problem solving C: Extended problem solving 3. Aaron does research on several local colleges before applying to his first three choices. This is an example of: A: High – involvement purchase decision B: Low – involvement purchase decision Marketing Plans Reading: Contemporary Marketing: Chapter 2 + Ch. 2 Appendix Web sites: http://www.jpec.org/handouts/jpec33.pdf http://www.netmba.com/marketing/process/ Questions: 1. Strategies are designed to meet objectives...
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...Appendix C Sample Marketing Plan C1 APPENDIX C Sample Marketing Plan Star Software, Inc. Marketing Plan 1 I. EXECUTIVE SUMMARY Star Software, Inc., is a small, family-owned corporation in the first year of a transition from first-generation to second-generation leadership. Star Software sells custom-made calendar programs and related items to about 400 businesses, which use the software mainly for promotion. Star’s 18 employees face scheduling challenges, as Star’s business is highly seasonal, with its greatest demand during October, November, and December. In other months, the equipment and staff are sometimes idle. A major challenge facing Star Software is how to increase profits and make better use of its resources during the off-season. An evaluation of the company’s internal strengths and weaknesses and external opportunities and threats served as the foundation for this strategic analysis and marketing plan. The plan focuses on the company’s growth strategy, suggesting ways in which it can build on existing customer relationships, and on the development of new products and/or services targeted to specific customer niches. Since Star Software markets a product used primarily as a promotional tool by its clients, it currently is considered a business-to-business marketer. This sample marketing plan for a hypothetical company illustrates how the marketing planning process described in Chapter 2 might be implemented. If you are asked to create a marketing plan, this...
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