...Review of STP & Marketing Mix On Under the guidance of DR. reeti agarwal Submitted by: Krishnendu Karmakar (JL13FS23) | Arindam Banerjee(JL13FS15) | Paritosh Kumar Singh (JL13FS35) | Rajneesh Kumar Sharma (JL13FS44) | ACKNOWLEDGEMENT Report is an excellent tool for learning and exploration. No classroom routine can substitute which is possible while working in real situations. Application of theoretical knowledge to practical situations is the bonanzas of this report. Without a proper combination of inspection and perspiration, it‘s not easy to achieve anything. There is always a sense of gratitude, which we express to others for the help and the needy services they render during the different phases of our lives. We too would like to do it as we really wish to express our gratitude toward all those who have been helpful to us directly or indirectly during the development of this project. We would like to thank Dr. Reeti Agarwal who was always there to help and guide us when we needed help. Their perceptive criticism kept us working to make this project more full proof. We are thankful to her for her encouraging and valuable support. Working under her was an extremely knowledgeable and enriching experience for us. We are very thankful to her for all the value addition and enhancement done to us. No words can adequately express our overriding debt of gratitude to our parents whose support helps us in all the...
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...products. One of the famous and successful mobile phone manufacturers in the world is Nokia. Like any other companies, Nokia has been able to use strategies and approaches to meet the needs and demands of their target market. It keeps being the leader in the mobile telecommunications relies on its plentiful experience, technology innovation, and scientific marketing strategy. However, it can be said that the company still needs to consider other strategies to remain competitive in the market because of the cut-throat competition in mobile communication. This can be evidenced by their shares to dramatically down by 20% due to the penetration of their competitor. Nokia must be able to have an intensive marketing plan to ensure success and apparently, their experience to eat the humble pie won’t happen again. With the emergence of Apple Iphones today, the strategy of Nokia relies on growing, transforming, and building the Nokia business to ensure its future success. Although Nokia is an established multinational company, the management must still be able to use different strategy that would sustain Nokia’s competitive advantage and ensure market success. The marketing plan must include the business strategy that Nokia must use which includes the strategic intent, competitive strategy and marketing mix. The strategic concept of Nokia is to take the demand-side strategy. In doing so, Nokia subdivides the whole market into several objective markets according to the researches about...
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...THE MARKETING STRATEGY OF NOKIA Contents EXECUTIVE SUMMARY 3 INTRODUCTION 3 CURRENT SITUATIONAL ANALYSIS 4 PESTEL analysis: 4 SWOT analysis: 7 DIFFERENTIAL ADVANTAGES 8 RECOMMENDATION 11 MARKETING STRATEGIES AND PROGRAMMES 11 Segmentation: 11 Targeting: 12 Positioning: 12 Marketing strategy: 12 OBJECTIVES 14 RECOMMENDED MARKETING MIX 14 Product: 14 Price: 14 Place: 15 Promotion: 15 BENEFITS OF THE RECOMMENDED OBJECTIVE TO THE STAKEHOLDERS 15 CONCLUSION 16 REFERENCES 17 BIBLIOGRAPHY 19 EXECUTIVE SUMMARY Nokia is a multinational organization that involves in the production of mobile telephones. Nokia's mission is simple: connecting people. Their goal is to build great mobile phones that enable billions of people worldwide to enjoy more of what life has to offer. Nokia has approximately 98,000 employees around the world. Nokia has aligned with a lot of firms to help improve the society, which are UNESCO, OXFAM, British council, UNICEF; Siemens. Nokia has 1.3 billion customers all over the world using Nokia devices. Their production facilities are established in Brazil, China, Hungary, India, Mexico, South Korea, and Vietnam. (Web 1) Nokia was the market leader in Nigeria when mobile telephones manufacturers exploited the opportunity provided by the then President Olusegun Obasanjo in bringing GSM network providers into the country in the 2001 (web 2), but Nokia has dropped drastically in terms of market share due to the saturation...
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...Week 3 Strategy and Positioning Analysis Part 2 Joshelyn Wooten Kaelin A. Love-Smith Sophia Taylor Olando Hart MKT/421 July 19, 2016 Dr. Duane Scott * Describe how your marketing efforts and marketing mix will change with each phase in the product life cycle * Explain how the packaging you will use for your product or service will add value Marketing Strategies Used By Nokia Marketing Published: 23, March 2015 Nokia was founded by Fredrik Idestamin in 1865 as public limited company. Nokia is leading the cellular phone industry with around 38% of the market share, while Motorola, which is American based is having 12% of total market share. Nokia used to be a diversified conglomerate up till 1980 with business that includes pulp, rubber tire production, paper, telecommunication equipment, cable manufacturing, and consumer electronics. The geographic target market of Nokia was mainly limited to Scandinavia (70% market share) and US (33% market share) (123helpme, 2010). Nokia never enjoy a monopoly in any market including Finland and the company share is due to its competitive marketing strategy, state of the art product designing and manufacturing, pricing strategies and creative marketing campaigns. The company has constant record of launching new products that either have a low costs or cutting-edge technology. These two characteristics of the firm gives it competitive advantage and the company is still the most profitable company of the mobile-phone manufacturing...
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...and term paper examples. Important of Strategic Marketing in Promoting Samsung Galaxy S2 - 09-05-2011 by Expert Article Writer - Ez Go Articles - http://www.ezgoarticles.com Important of Strategic Marketing in Promoting Samsung Galaxy S2 by Expert Article Writer - Monday, September 05, 2011 http://www.ezgoarticles.com/important-of-strategic-marketing-in-promoting-samsung-galaxy-s2 Samsung galaxy series is competing with Nokia N8 and the mobiles present under the similar series. Both the companies are putting in so much of effort to mark a successful presence in the niche. In today’s era, marketing is very important to promote certain products and services because that is the only way to educate consumers about them. Strategic marketing is also vital because it can attract customers’ attention towards certain products and help the particular company to generate more revenue. Samsung Galaxy S2 is popular in the market due to its great features and interesting appearance.However, strategic marketing is what causes it to be so popular in the market. Why is it so important? Basically, strategic marketing is important in promoting this smart phone because of its effectiveness. Well, we all believe that no matter how good your phone is, and if your marketing strategy is not good enough, people will not catch an eye on that phone. Therefore, Samsung Galaxy S2 is so popular because of its effective strategic marketing. It is marketed as a smart phone with a super large...
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...Assignment 1: Corporate Responsibility and Marketing Strategies BUS 508 Shantrelle Godfrey April 27, 2014 Dr. Ann Pohira-Vieth Assignment 1: Apple is a innovative company. They always seem to find an easier way to do things when comes to electronics but to understand Apple, you have to get to know Apple. In this paper I will be discussing Apple’s ethical and social responsibilities, the impact that the publication of Apple’s suppliers may have had on Apple’s reputation, two methods that Apple can use to ensure their suppliers adhere to wage & benefits standards, Apple’s customers would be willing to pay more for products and discuss Apple’s marketing strategy. Examine Apple’s Current Position on the Company’s Ethical and Social Responsibilities, and Determine Whether or Not the Company Has Met These Responsibilities. Provide (2) Examples That Support Your Position Apple has always been known for their innovative devices and media content and applications. It would be very hard to resist and believe that a company of such extraordinary magnitude would be in violations with their supplier. Apple’s Chinese supplier Foxconn was in violation of child labor violations, toxic conditions, and other violations of their code of ethics a few years back in 2010. After the 10 suicides at Foxconn, Apple made it a priority to reemphasize their ethic and social responsibilities. After examining the company’s ethical and social responsibilities, Apples strives to treat every worker...
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...Assignment 2.1 Ford Analysis PSPR 6208 Strategic Marketing and Communications Fall 1 2013 1. Where would you put Ford in terms of competitive position? Why? By shifting their focus, developing a new marketing strategy and focusing on the Ford brand, Ford has dramatically enhanced their competitive position and turned things around for the company. In doing so, they strategically placed themselves back at the top in terms of competitive position. This was no small feat, especially considering the fact that they were in far worse shape than most car companies as recent as 2008 (Kotler & Armstrong pg 547). Ford with the assistance of new CEO Alan Mulally fought hard against bankruptcy and even harder to gain consumer trust in the company and the brand. This strategy has helped Ford to gain a competitive advantage, especially in terms of customer satisfaction. 2. Is Ford a market-centered company? How can it improve in this area? Considering the fact that Ford currently pays attention to both customers and competitors in designing the company’s marketing strategies, I would say they are definitely a market-centered company. This may not have always been the case, as is evident from reading the case study. At some point, Ford took its eye off the market, loosing focus, especially in regards to customer needs. I think that they were driven to shift their focus by several factors, top of mind being the dire economy. Moving forward, they will need to play...
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...Social Media Marketing BUS508: Contemporary Business November 30, 2013 What is Social Media Marketing? Why has Social Media Marketing become so popular? Is it now the most effective way to advertise and market? I have chosen to first define both marketing and social media. In my analysis it will allow you to fully grasp the importance and meaning of marketing and social media. My analysis will also allow you to easily determine why Social Media Marketing has become so popular among businesses. I’m a big believer in social media so I will display that throughout my paper. With technology in this day and age people always have the Internet in the palms of their hand and social media is always a button away. What is marketing? Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Boone & Kurtz, 2012). Without proper marketing strategies businesses would not be able to sell their goods and services. The most effective rule to consumers is to ensure that they always get what they want and always meet their needs before they ever surface. Marketing has always been part of business, from the earliest village traders to large 21st-century organizations producing and selling complex goods and services (Boone & Kurtz, 2012). How people market has now evolved and is now more on social media than ever. Social media is one of the...
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...CASE STUDY: MCDONALD’S Executive summary This case study looks to evaluate marketing within McDonald’s and will look into how it has affected McDonald’s in terms of its position within the market. Through research, a positive correlation has been revealed between how successful a company operates and how committed they are in terms of customer focus and its marketing strategy (Kloter and Armstrong, 2010). This study will demonstrate how McDonald’s marketing strategy has helped render the company a global success. This is shown through the SWOT analysis. This study has found that the pivotal ingredient in this company is the unique and effective marketing strategy. Also to be credited was that the strategy showed that there were areas which could potentially disrupt the current rate of success (in terms of monetary results) If they are not rectified. A recommendation could be to increase the amount of ‘Healthy foods’ McDonald’s currently offer, to do so McDonalds would need to invest more in their product segment of the marketing mix. Introduction In many cases a company does not become successful overnight. There are a number of key ingredients which need to be focused on, in order to achieve its potential. An important part of this is the ‘marketing strategy’. The majority of successful firms invest large sums of capital and time into tailoring their strategy focusing on the potential changes in customer levels, rivals and the environment (Bradley, 2005). McDonald’s currently...
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...Problem Statement Jeff Johnson, who saw that an informal Pacific style restaurant and bar on the site of a barrier island had potential for development. He then used his savings and some financial assistance from his family to build Jumpin’ Jeff’s Beach Bar on the barrier island. After Jumpin’ Jeff’s opening, Mr. Johnson soon realized that there are lots of challenges waiting for him, such as price setting, menu development, staffing issues, and cultural issues. Situation Analysis Since Jeff Johnson owns the land, Jumpin’ Jeff’s Beach Bar is the only one on this particular island. Mr. Johnson had chosen a good restaurant location, as he has a monopoly of business on the island. He can do whenever businesses he wants on the island. Mr. Johnson spent a lot of money on design elements, as every supplies and equipment is shipped from Florida. The restaurant was designed in a South Seas beach-hut style with shutters, which should be pretty eyes catching. The island itself is a barrier island, open on the eastern side to the Atlantic Ocean and the western side to the Haven. The other side of the Haven is a very small town, Kingsville, with two grocery stores, three churches, two resorts, two gift shops, and a small open-air market open on Tuesday and Saturday mornings. The Haven is popular in winter with cruising small boat sailors looking for a good anchorage in a sheltered harbor, amenities provided by the grocery stores and a place where they could order parts for their boats...
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...the effectiveness of their marketing strategies for TWO elements of the marketing mix. Microsoft Corporation Table of contents Microsoft corporation overview 3 Introduction 3 Marketing strategies and their effectiveness 4 Conclusion 5 Reference list 6 Appendix Financial Statements For Microsoft Corporation: annual data 7 Microsoft corporation overview Microsoft is a public multinational corporation founded in Albuquerque, New Mexico on April 4th, 1975 by Bill Gates and Paul Allen. Where know the head quarters are in Redmond, Washington, USA with Steve Ballmer (CEO), Brian Kevin Turner (COO), Bill Gates (Chairman), Ray Ozzie (CSA), Craig Mundie (CRSO) and approximately 89,000 employees. Introduction Microsoft became one of the largest and most profitable companies in the world. Its founder, Bill Gates, became one of the wealthiest people in the world. Microsoft products enjoy a market share of more than 90 percent of the operating systems business worldwide. Microsoft has continued to expand and to update its product offerings and in doing so, it continues to spur demand among software buyers for Microsoft's newest and best products. The company has successfully navigated through changes in technology, the rise and fall of competitors, the growth of the Internet, and the globalization of business. In order for this success, Microsoft implemented marketing strategies in the marketing mix of product and promotion...
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...Defining Marketing April 7, 2014 University of Phoenix Defining Marketing Marketing, in essence, is a company differentiating itself from its competitors. Organizations use marketing strategies to promote their product. Perreault, Cannon, and McCarthy define marketing as “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” (2011, p. 6). Companies must focus their resources on these products to increase sales and competitive advantage. According to Kotler and Keller, “Marketing is about identifying and meeting human and social needs” (2012, p. 5). Companies use marketing strategies to spark interest, promote, and educate the consumer. A dental company must continuously reinvent itself from a marketing standpoint. In a town with a population of over 117,000 people and over 40 dentists the demand for dentistry is always present, but so is the competition. It is important for a dental office to keep their name at the forefront of dentistry. It is vital that an organization not only creates an exceptional product or service, but also delivers what they promised. An organization is only as good as their consumers perceive them to be, so it is greatly important that their marketing begins in-house with their current patients. There is no more cost-effective way to market than word-of-mouth...
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...| A CRITICAL PERSPECTIVE ON STRATEGIC CSR AS A TOOL FOR MARKETING AND BRAND DIFFERENTIATION | | | Mattias Norén, Niklas Nygård | 2014-01-16 | | “What are the underlying reasons for abusive Strategic CSR in marketing and brand differentiation, what are the consequences and are there any solutions?” Introduction to CSR For Corporate social responsibility(CSR) a lot of different definitions exists but the one we chose to use in this report was defined by (McWilliams, Siegel och Wright)) as “actions that appear to further some social good, beyond the interests of the firm and that which is required by law”. This definition defines a wide concept that contains everything from corporate environmental strategies, employee empowerment, health and benefit plans for employees and corporate philanthropy. The linking factor between these different implementations is that corporations and businesses should expand their responsibility beyond absolute necessity and their core stakeholders group. While CSR is very modern as a defined concept it is still based on a lot of old ideas. For example many companies in the late 1800s based its business on scientific betterment which often meant that employee benefits was taken a lot further than the requirements of the law (Barley och Kunda). Today CSR has evolved to something more than the initial idea of expanded responsibility and it’s used as a tool for companies to reach goals outside of areas normally connected to CSR...
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...The importance of marketing in Law Firms Introduction The importance of good and accurate marketing in the legal industry is growing as a response to the high competition among the industry and because of the innovations in technology. In the past, the common marketing practice among law firms to publicize their business and services depended exclusively on word of mouth. Over the years and due to the wide offering and competition among law firms, the above has radically changed and lawyers and law firms are now taking a more aggressive and proactive approach to market their firms and shopping their services within the market. Why should a law firm focus on efficient marketing strategies? Due to the fact that today lawyers live in a very competitive market place and clients are sophisticated, demanding and price sensitive, lawyers and law firms need to spend a great portion of their budget and time to think and determine the best way to provide upscale offering and services in order to get a competitive advantage and a wider market share. Creating value and offer a differentiated service and product are key factors for the law firms in order to get hired by clients. Every person that is part of the law firm should strive to offer a premium service sometimes in detriment of quantity. Since clients are price sensitive, having a better product than competitors create value and a competitive advantage for the law firm. Law firms should be selective when choosing work and clients...
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...gary a. sanchez * Blog * How I Can Help * Corporate * Small Business * About Me * subscribe via RSS Understand the Difference Between Strategy and Tactics to Unlock the Power of Your Social Media Marketing by garyasanchez “Strategy is doing the right things. Tactics is doing things right.” ~various attributions, including Peter Drucker and paraphrased from Sun Tzu I recently posted a series of slides from prominent social media thought-leaders as to why social media is not a retail marketing strategy. The point was not to diminish the potential value of social media or inbound marketing, for there are considerable benefits to be realized. Rather, my point was to assert that the use of social media and inbound marketing tactics can benefit tremendously by being used to support general marketing strategies and online content strategies. Starting your marketing efforts with well thought out strategies will help you manage limited resources, help you understand what’s driving success and failure, and accelerate success by unlocking the creativity that exists within your organization. Goals, strategies and tactics Before you can speak intelligently about the differences between strategies and tactics, you first need to start with the purpose of having strategies and tactics. The biggest reason is to help you achieve a goal. A goal is a specific result that your business needs to achieve in order to sustain itself, usually through revenue growth or expense...
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