...1. Stragetic Marketing In its strategic role, marketing focuses on business’s intentions in a market and the means and timing of realizing those intentions. The strategic role of marketing is quite different from marketing management, which deals with developing, implementing, and directing programs to achieve designated intentions 1.1 Concept of strategic marketing As shown above, the marketing function plays at different levels in the organization. At the corporate level, marketing inputs (competitive analysis, market dynamics, and environmental shifts) are essential for formulating a corporate strategic plan. Marketing represents the boundary between the marketplace and the company, and knowledge of current and emerging happenings in the marketplace are extremely important in any strategic planning exercises. At the other end of the scale, marketing management deals with the formulation and implementation of marketing programs to support the perspectives of strategic marketing, referring to marketing strategy of a product/market. This time, marketing strategy is developed at the business unit level. |Marketing’s Role in the Organization | |Organizational level |Role of Marketing |Formal Name | |Corporate |Provide customer and competitive...
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...MKT-500 Marketing Strategies Southern New Hampshire University Mass Marketing Short Paper Susan Bowcutt October 12, 2012 Professor Roberta Bourque I think with the dawn of social media, mass marketing is falling by the wayside. The norm now seems to be gravitating towards pinpoint or personal marketing. With the continual advancements in technology, marketers are able to obtain more and more data on their prospective customers. Social media has also allowed marketers to reach people in different ways, such as Facebook. One of the major changes leading to the decline of mass marketing is the amount of time families spend in front of the television. Before social media, DVR’s, and the Internet in general – families would typically be glued to the television soaking up any content they could get – which largely came in the format of commercials. Now that families are connected wirelessly and on the go much more, their time is limited (Rodney Reid, 2005) and they are feeding off of content from many different streams (smartphone, email, etc). With TiVo and cable/satellite company DVRs (digital video recorders) people can fast forward through those pesky commercials and on to the television show they are watching. For the last several years, reality television has taken over primetime and every other time, it seems. These shows offer lots of opportunity for product placement marketing and most of the time that is taken advantage of to the fullest extent. In order to be successful...
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...posed “Is Mass Marketing dead?” Many marketers may would yes, but I would say not quite, but it is dying. As one should already know, with mass marketing, also know as interruption marketing, “the firm ignores segment differences and goes after the whole market with one offer. Unfortunately, the ability to create a large potential market that leads to the lowest costs, lower prices, or higher margins is no longer a necessity. In this day and age the change from mass marketing to micromarketing is as much an opportunity as it is a need. During the time when it was harder to gather personal information about consumers, mass marketing was the best route to go. You put your campaign out to the world and if you’re lucky, a large percentage of consumers will be interested in what you’re company is selling. If the reaction was positive, you knew what worked. If the response was negative, you found out what changes were needed and companies went back and tried again. In this new era of marketing, there is a new breed of consumers who are obsessed with self gratification and want a more personalized experience which means that mass marketing is slowly being pushed out of sight. If consumers continue to get these personalized touches, eventually prospective customers will demand it more and more. The largest of companies still don’t agree with this and think mass marketing is the way to go. The advancements in technology are also starting to lead to the demise of mass marketing. Consumers...
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...The Future of Mass Marketing Marketing Strategies Mass marketing is often practiced to provide the maximum exposure of a product or service to its consumers. The term mass marketing is also known as undifferentiated marketing because the whole concept is to go after the market as a whole, rather than targeting specific segments (Kotler & Keller, 2012). In the passed decade, our world has become more depend on technology, thus providing our society with what ever we want – when we want it. This new age of media and marketing has been forced to mold and adapt to the new technological demands of their target markets. In the previous decades mass marketing was profitable and effective for those companies who had the budgets for it. However in this new age of new media marketing styles, the future of mass marketing techniques is being questioned. Long ago, direct mail advertisements and telemarketing efforts were some of the most effective strategies of reaching out to the most consumers on a large scale. Over the past decade, those techniques have become less effective and the marketing industry has had to adjust. Some marketers argue that those traditional means of marketing are dying, but others seem to think its nonsense to think that the mass market is dead. It's just harder to reach. But great advertising still has the capacity to bring consumers together, to reassemble them as a mass market. The problem is there's very little reason for them to get together...
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...| Is “Mass Marketing” Dead? | | Mass marketing is the process in which segment differentiation among potential consumers is ignored in order to offer one product or service to an audience.(Hanias, 2008) Mass marketing is not personalized, unfiltered, and not audience specific which allows it to be able to reach a broader market of consumers in hopes that the product or service recognition is maximized. For some, it’s a strategy that requires less work and investment and plays on the idea that something is better than nothing. But, with so much innovation in technology and the increase in resources available to understanding the client mass marketing is slowly becoming ineffective and moving more and more towards being more personalized. Mass marketing is the process in which information and advertisements are made available to the public. The different channels in which marketing can be distributed includes newspapers and magazines, radio and television, and now Internet. Marketing has evolved as the most proven way to reach out to potential customers and making them clients. If one really wants to evaluate the effectiveness and longevity of Mass marketing its important to understand the history of its purpose and evaluate the track record of its success. According to an article on the History of Mass Media in America, mass marketing was first introduced back in the 1840’s with the Industrial revolution and the expansion of the United States from the East Coast...
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...Is Mass Marketing Dead? TABLE OF CONTENT NO 1.0: 2.0 3.0: 4.0: References DETAIL Introduction Is Mass Marketing still a viable way to build a profitable brand? The reasons for the fall of traditional Mass Marketing Conclusions PAGE 3-4 5-7 7 – 13 14 - 16 17 1 1.0: INTRODUCTION Marketing is about identifying and meeting human and social needs, (Kotler, 2002) or even in simpler words, that is done to attract and retain customer at a profit. Thus, we see marketing management as the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering and communicating superior customer value (Kotler, 2012). This simple definition tells that marketing is basically customer oriented in nature. However, looking back at the history of marketing indicates that the idea of marketing was different and it took many different shapes at different ages. The four major marketing management philosophies i.e production concept, product concept, selling concept and marketing concept are in fact, related to this evolutionary nature of marketing. This conceptual development of marketing implies that initially marketing was associated with the mass production and efficient delivery of the products (production concept) and now it is viewed as a customer oriented essential business activity (marketing concept). An inquisitive mind may ask a simple question: before even production concept what was the form of marketing? If the job of marketing...
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...IS MASS MARKETING DEAD? 2 Abstract Some claim that mass marketing is becoming less significant; others claim that it is not and that there will always be room for large brands that employ marketing programs that target the mass market. The paper compares mass marketing and its ability to reach today’s consumers. This examination of mass marketing shows its weakness in the market and its approach to becoming nonexistent. IS MASS MARKETING DEAD? 3 Is "Mass Marketing" Dead? The best approach todetermine the future of mass marketing is to take a look at its conception.The industrial revolution paved the way for the concept of mass marketing. Railroads were being built from coast to coast; providing transportation of both people and product.The telegraph was there to satisfy the need for faster communication.A country that relied on local markets was rapidly growing; cities were being populated and the demand to supply basic needs was greater than any time prior.Savvy entrepreneurs were able to seize this opportunity to make their brand known by mass producing their product and advertising.Mass marketing is a single market plan with the same mix of product, price, andpromotion strategies for the entire market.Those that adapted to this strategy were untouchable in the market place. Henry Ford was well known for his contributions to mass production.His innovative approach to making a car with limited features drastically lowered the production cost...
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...Mass Marketing is Diminishing Some claim that mass marketing will always exist for the large brands that target the mass market. Others claim that mass marketing is becoming less significant. I believe mass marketing is becoming less significant due to advancements in technology and the impact of cultural diversity. I will describe why I think these two major factors are eliminating mass marketing along with what I believe the future holds for mass marketing. Advancements in Technology Technology has evolved over the years from the Internet to smartphones to social media and is now a part of our everyday lives. In addition, with technological advancements companies now have more than ever the ability to maintain customer databases. I believe for a company to become successful marketing strategies need to adapt to changes in technology. Internet, Smartphones, Social Media Prior to the emergence of the Internet companies used mass marketing because the strategy was to reach as many consumers as possible. Then the Internet enabled consumer’s endless access to information, thus changing their purchasing behavior. Consumers are able to become more knowledgeable about products than ever before. Marketing efforts need to be adjusted to appeal to Internet users. According to Kotler and Keller (2012), “The widespread usage of the Internet allows marketers to abandon the mass market practices that built brand powerhouses in the 1950s, 1960s, and 1970s” (p. 135). Then once...
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...John Cole 23 February 2014 Professor Youssef MKT 600 Assignment 3 Mass Marketing is not dead, but elements in today’s ever-changing society make it more of a challenge than ever before. There is no doubt that the tastes of consumers and the exposure they are inclined to on a daily basis has the distinct ability to draw customers away from products, and some advertisement can cause a distinct barrier for the consumers that use them. The possibilities of how a consumer can interpret an advertisement are endless. Most heavy contenders in the corporation game have steered clear of many elements that can corrode the brand equity of that company, but some have stepped into the limelight more recently and have battled the repercussion that has derived from these elements. The first company to discuss is Coca Cola Inc. and their Super Bowl ad of 2014. The ability to satisfy every consumer of a product in advertising is very complex and delicate, especially with such a diverse country like the United States. The Super Bowl ad presented was the essence of Americans from cultures all over the world that have all come together to celebrate a likeness of a single brand (Coca Cola), and their ability to satisfy the tastes of every consumer. It was a very powerful message that showcased the fact that no matter who [you] are, where [you] come from, or what [you] should prefer because of [your] ethnicity, Coca Cola is going to make sure that the quality and consistency of their...
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...Mass marketing is a market coverage strategy in which a business decides to ignore market segment differences and appeal the whole market with one offer or one strategy. The idea is to broadcast a message that will reach the largest number of people possible. Traditionally mass marketing has focused on radio, television and newspapers as the media used to reach this broad audience. By reaching the largest audience possible exposure to the product is maximised. In theory this would directly tie in with a larger number of sales or buys into the product. Mass marketing is the opposite of Niche marketing as it focuses on high sales and low prices. Mass Marketing aims to provide products and services that will appeal to the whole market which I believe is why it’s viable to use this marketing technique. Whereas Niche marketing targets a very specific segment of market for example specialized services or goods with few or no competitors, therefore won’t benefit as much as Mass Marketing will. The Advantages of Mass Marketing • Wide audience – Since the target audience is broad, the number of successful hits is high despite of the low probability of a single person turning up. • Less risky – If all the efforts in one particular area go in vain, still the eventual loss is compared to a loss in the narrowly focused area. • Production costs per unit are low on account of having one production run for homogeneous product • Marketing research cost and advertising cost are relatively...
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...In this discussion, you will delve deeper into GAAP by identifying and discussing its five key principles. Being able to identify and apply the key GAAP principles will help you better understand why accounting information is recorded the way it is. Describe the five key principles of GAAP. What is the importance of each principle? How does each principle affect the presentation and inclusion of accounting information? In response to your fellow classmates, discuss why small businesses should follow these five key principles of GAAP. Generally Accepted Accounting Principles, commonly referred to as GAAP, are the mandated accounting standards used to ensure a basic level of financial reporting consistency among public companies. The five key principles of GAAP, which were created by the FASB, for the purpose of improving trust in U.S. businesses and to improve the quality of financial record keeping. GAAP lay out five main principles for accountants to follow. The cost principle states that "cost" always refers to the amount initially paid for an item and accountants should not adjust upward for inflation. The full disclosure principle requires accountants to disclose all pertinent information, often in pages of footnotes to the financial statement. The going concern principle assumes a company “will continue to exist long enough to carry out its objectives and will not liquidate in the foreseeable future,”...
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...Jason Corral BM14206 “MORAL PHILOSOPHY” Everyone human being on the planet carries with them a moral philosophy of some kind. For some people it is a way of life, and they consult their philosophy before making any moral decision. However, for many their personal moral philosophy is undefined or unclear to them. Perhaps these people have a philosophy of their own that they abide to, yet fail to recognize that it exists. What I hope to uncover with this paper is my moral philosophy, and how I apply it in my everyday life. Further, I will compare my ideas with the works and ideas studied thus far this semester. In my life, morality is something that has been developing since birth. Many of my moral decisions were influenced by the instruction of my parents growing up. What was considered right and wrong was advised by my parents. I went through a process of trial and error where my parents would condemn what was wrong and praise what was right. That helped me in making decisions further down the line. For example, if I knew that if I kicked our pet cat my parents would think it was wrong, I simply would not do it. Growing older I realized why my parents would advise against something such as kicking our pet cat. They believed it was cruel to torment the animal and cause it unnecessary pain. So, being a rational being like my parents I too agreed that to cause unnecessary pain to our pet was wrong. I understood this is something...
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...Creativity and Business Innovation Prof. Stefan Meisiek Case Analysis of Critical Mass : The IT Creativity Challenge Piyush Choudhary 2013962348 Executive Summary Critical Mass is a highly successful digital marketing service firm with a its major clientele part of the Fortune 500 group. The Internet industry of which Critical Mass is a part is changing a lot. The social media tools have created a generation that has access to a lot more information. Consumers are becoming highly demanding in making creativity and innovation a must for the success of Critical Mass Inc. The company had invested a lot of resources to achieve a so called creativity inducing environment and organized a plethora of activities to ensure that the creative juices kept flowing. At this juncture the company is at the crossroads to take its next step towards a significant expansion in its client base. As a result Brian Kramer (Tech Director) and Gordon Bunk (Senior VP and MD) have decided to inspect and revaluate the current practices followed in the firm to determine whether they were having the required effect make necessary changes to make them more meaningful and result oriented. 1 |Page Creativity and Business Innovation Prof. Stefan Meisiek Introduction Critical Mass was setup in 1995 by Ted Hellard and Michael Clairo with the intention of being a interactive golf CD-ROM development company. As a part of the plan Hellard went to pitch his interactive golf CD-ROM to Mercedes Benz ,however...
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...Mass Marketing of Celebrity Chefs and Cooking Reality Shows Introduction A celebrity chef is a kitchen chef who has become famous and well known. Today celebrity chefs often become celebrities by presenting cooking advice and demonstrations via mass media, especially television (Wikipedia, 2011). Chefs and cooks are always in demand all over the world. They are responsible for menu planning, prepping food, cooking and presenting attractive meals. Cooks become chefs after many years of training. Receiving a formal culinary education, can help speed up the process. This prevents development of bad habits and learning proper techniques from the start. It also teaches time management and efficiency in working and meal planning. These traits are critical to maintain high quality service and food without too much time. While the job can be glamorous, chefs are not afraid to get down and dirty. Once a chef reaches the position of executive chef, they usually stay out of the kitchen and take on menu planning and running of the restaurant. An executive chef makes about $59,000 a year, but can earn a six figure income depending on a restaurants success (Top Culinary Arts Schools and Online Training Programs, 2011). Many chefs also act as consultants to magazines, TV Shows and other programs across the nation. The job can be very rewarding when a restaurant, catering service or bakery receives an excellent review in a newspaper, magazine, or star ranking. With the...
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...According to the article Black holes first, galaxies second it has been found out that each galaxy has a black hole in the center (16). By observing motions of gas it had been suggested that early galaxies were 30 times as huge as central black holes. Therefore, it has been suggested that galaxies are formed around black holes (16). Doppler shifts show the black hole mass. Astronomers believe that both the hole and the galaxies can stop growing (16). As stated in Spinning Hearts of Darkness “Astronomers are measuring the rotation rates of black holes to determine their rotation and history” (Brenneman, 20). A black holes’ gravity is so strong that light can’t pass through it (20). As stated in the article Black holes are neither let in light or let it come out (Brenneman, 21). Black holes can be up to billions solar masses. Measuring a black holes spin is important because it can tell us about its history (22). Black holes that occur because of mergers with other black holes will grow slower than those that occur by accretion. As stated in Brenneman “Black holes occur at random angles which alter the spin direction and speed of resulting black hole”(22). Einstein’s general theory of relativity the black hole spins in the same direction as its rotation disk. The disks’s "Black Holes First, Galaxies Second." Sky & Telescope 117.5 (2009): 16. MasterFILE Elite. EBSCO. Web. 13 Oct. 2011. BRENNEMAN, LAURA. "Spinning Hearts of Darkness. (cover story)." Sky & Telescope...
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