...A formal marketing plan provides a clear reference point for activities throughout the planning period. LEARNING OBJECTIVE * Identify the purpose and use of creating marketing plans KEY POINTS * Marketing plans are included in business plans, offering data showing investors how the company will grow and what kind return they will get on their investment. * Marketing plans make the marketing team look at the environment in which they operate. * Marketing plans can be written to fulfill the requirements of the yearly planning process within the marketing department. TERM * return on investment Return on investment (ROI) is one way of considering profits in relation to capital invested. EXAMPLE * The competitive business environment in addition to the current financial crises makes it mandatory to have a business plan if you want funding for your company. Give us feedback on this content: FULL TEXT Introduction Failing to plan is planning to fail. -- Alan Lakein You've probably heard this expression before, and many successful businessmen will probably tell you the same. Still, what's the point of creating a formal marketing plan? Exactly what purpose does a marketing plan serve? Marketing Plan Marketing plans serve both an internal and external purpose. In this unit, we're going to answer that question. Why a Marketing Plan is Essential A formal marketing plan provides a clear reference point for activities throughout the planning...
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...Creating an awareness of a particular product or service is the fundamentally want marketing is intended for. The ability to communicate to potential and existing customers is the basis of marketing’s intentions. Integrated marketing is the coordination of all marketing tools within the marketing mix as it pertains to products, distributions systems and promotions. The goal of an integrated marketing system is to be able to have a strong presence and positive impact on consumers, businesses, and other end users (Clow & Baack, 2007). Materials such as direct marketing, one to one marketing and mass marketing are all strategies to enhance the effectiveness of a marketing plan. These marketing strategies can derive data the can be used in the development of a product or service, its distribution, customer relations and pricing. Presently, in the business world marketing is engulfed in an environment with trends that are constantly changing. The evolution of integrated marketing was unavoidable. For any business, integrated marketing is a need to keep up with the expansion of marketing channels via print, Internet, media, which all cannot be done without communication. Therefore, Integrated Marketing Communication (IMC) is the encompassing of all marketing tools, avenues, and sources within an organization into one program at a minimal cost that will shape the way customers buy (Clow & Baack, 2007). This trend has enabled for a company’s brand to hold a substantial value...
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...Primark and Oxfam Marketing Purpose and Techniques Contents Introduction____________3 Oxfam________________4 Primark_______________7 Charts & Tables _______10 Appendix_____________12 Introduction This report is based on the marketing techniques/ skills of Primark and Oxfam based on their products/services. Before we can understand the effectiveness of the marketing techniques, we have investigated both companies and carried research by looking through different sources. Sources include; internet research, company website, advertisements which we evaluated on www.youtube.com for Oxfam. Additional sources include the BTEC Level 3 Business Book1, which was used to look up techniques such as; survival strategies and brand awareness. We have also used resources such as PowerPoint Presentations from The Times 100, Business Case Studies. In this report you will find some information on the company itself and how they market themselves which we have put into sections in a specific order to show how we came to the conclusion of how effective we think their marketing skills are. We have provided evidence of our research and transferred relevant data into charts. Oxfam Company Purpose: Oxfam is a voluntary charity organisation. Oxfam’s main objective is to reach out to poor countries and help civilians manage their own lives from the sources Oxfam provide. Oxfam market themselves through their website and television commercials. This...
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...Purpose & Value of Integrated Marketing Paper Priscilla Suero University of Phoenix – MKT 498 Delynn Byars September 10, 2012 Creating an awareness of a particular product or service is the fundamentally want marketing is intended for. The ability to communicate to potential and existing customers is the basis of marketing’s intentions. Integrated marketing is the coordination of all marketing tools within the marketing mix as it pertains to products, distributions systems and promotions. The goal of an integrated marketing system is to be able to have a strong presence and positive impact on consumers, businesses, and other end users (Clow & Baack, 2007). Materials such as direct marketing, one to one marketing and mass marketing are all strategies to enhance the effectiveness of a marketing plan. These marketing strategies can derive data the can be used in the development of a product or service, its distribution, customer relations and pricing. Presently, in the business world marketing is engulfed in an environment with trends that are constantly changing. The evolution of integrated marketing was unavoidable. For any business, integrated marketing is a need to keep up with the expansion of marketing channels via print, Internet, media, which all cannot be done without communication. Therefore, Integrated Marketing Communication (IMC) is the encompassing of all marketing tools, avenues, and sources within an organization into one program at a minimal...
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...Competency Being Assessed Identify and evaluate marketing opportunities The purpose of assessment is to collect evidence in order to determine if a learner has achieved competency. Assessment provides confirmation that the learner can meet the expected workplace standards as they are outlined in the units of competency. Further unit information can be found at training.gov.au. This task is the first of two assessment tasks for this unit. You are required to analyse the given case studies/scenarios and answer the questions based on these. All questions must be answered and completed according to the following standards. Assessment 1 – Task Instructions This is an individual task. Please follow these steps in order to complete this task: 1. Review the learning materials in each of the modules in the LMS (learning management system) for this unit. 2. Read the case studies/scenarios and questions in the Answer Template. 3. Review the Assessment Guide. Completing the Assessment: 1. Use the Answer Template to type your answers 2. Submit your completed assessment via the assessment link in the learning management system. 3. Complete the assessment in your own words, providing references for any material you have researched. 4. Submit each assessment in the required format. 5. Attach a completed assessment cover sheet with your assessment. 6. Add your electronic signature to the assessment prior to submission. Notes and Support: 1. Holmesglen recommends that...
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...Integrated Marketing Communications Plan | [Company name] | | | | | Product name: | Click here to enter text. | Prepared by: | Click here to enter text. | Modified date: | 9/18/2008 | | | Table of Contents 1 Executive Overview 4 1.1 Scope of this Integrated Marketing Communications Plan 4 1.1.1 Marketing Objectives 4 1.2 Communications Objectives 4 1.3 Communications Strategies 4 1.4 Issues and Challenges 4 2 Situational Analysis 4 2.1 Product History 4 2.1.1 Product background 4 2.1.2 Current problems facing product 4 2.1.3 Past integrated marketing communications oR advertising themes 4 2.1.4 Past integrated marketing communications budgets 4 2.1.5 Past to present media spending 4 2.1.6 Current messaging 4 2.1.7 Customer trends 4 2.2 Current Marketing Situation 4 3 Target Audiences 4 3.1 Target Audience 4 3.2 Key Evaluation Criteria 4 3.3 Target Audience Profiles 4 3.3.1 Customer Profiles 4 3.3.2 Industry Analysts and Publications 4 4 Competition 4 4.1 Product Comparison 4 4.2 Barriers to Entry 4 4.3 Competitor Differentiation 4 4.4 Key Competitor Net Impressions and Messages 4 5 Branding and Messaging 4 5.1 Branding Architecture 4 5.2 Positioning Statement 4 5.3 Value Propositions 4 5.4 Major Messages 4 5.4.1 Major Messages for Customers 4 6 Communications Vehicles 4 6.1 Communications Process and Vehicles for Customers 4 7 Tactical Calendar 4 8 Budget 4 9 Metrics 4 ...
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...shared sense of purpose, direction, and opportunity. They focus on a limited number of goals, stress the company’s major policies and values, and define the company’s major competitive scopes. In addition, good mission will have long term view. 2. What key points do you think need to be included in the mission statement? The range of products and applications that a company will supply. The type of market or customers a company will serve. The range of regions or countries in which a company will operate. 3. Should a mission statement also be a marketing tool? Yes, the mission statement should be a marketing tool. The mission statement is like a brand and branding makes the object more memorable. Words that should speak clarity over cleverness and meaning over beauty. 1. Why is it important for a company to have a well written mission statement? Well written mission statements provide employees with a shared sense of purpose, direction, and opportunity. They focus on a limited number of goals, stress the company’s major policies and values, and define the company’s major competitive scopes. In addition, good mission will have long term view. 2. What key points do you think need to be included in the mission statement? The range of products and applications that a company will supply. The type of market or customers a company will serve. The range of regions or countries in which a company will operate. 3. Should a mission statement also be a marketing tool? Yes,...
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...SPOTLIGHT ON THE NEW MARKETING ORGANIZATION Spotlight HBR.ORG ARTWORK Markus Linnenbrink DIEDRITTEDIMENSION, 2011 JVA/Prison, Düsseldorf Rath, Germany The Ultimate Marketing Machine Most marketing organizations are stuck in the last century. Here’s how the best meet the challenges of the digital age. by Marc de Swaan Arons, Frank van den Driest, and Keith Weed July–August 2014 Harvard Business Review 55 SPOTLIGHT ON THE NEW MARKETING ORGANIZATION In the past decade, what marketers do to engage customers has changed almost beyond recognition. With the possible exception of information technology, we can’t think of another discipline that has evolved so quickly. Tools and strategies that were cutting-edge just a few years ago are fast becoming obsolete, and new approaches are appearing every day. Yet in most companies the organizational structure of the marketing function hasn’t changed since the practice of brand management emerged, more than 40 years ago. Hidebound hierarchies from another era are still commonplace. Marketers understand that their organizations need an overhaul, and many chief marketing o cers are tearing up their org charts. But in our research and our work with hundreds of global marketing organizations, we’ve found that those CMOs are struggling with how to draw the new chart. What does the ideal structure look like? Our answer is that this is the wrong question. A simple blueprint does not exist. Marketing leaders instead must ask, “What...
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...From the point of view of the contemporary marketing practice framework, companies usually have a one dominant focus, but they also practice other marketing practices. This allows managers to study and develop skills they need in the dominant practice. There are several marketing practices such as transaction marketing, database marketing, emarketing (this term is no longer in use), interactive marketing and network marketing. All of these practices are differs from each other in terms of purpose of exchange, nature of communication, type of contact, duration of exchange, formality of exchange and managerial intent. Transactional marketing The purpose of exchange in transactional marketing is economic transaction; it is not interested in any kind of information or relationships with customers or other firms. The aim is just to sell. The nature of its communication is from firm to mass market – no target markets or segments are defined. Transactional marketing also is not interested in communication “with” customers or with firms. To contact with its consumers firms using Transaction marketing select an arm’s length impersonal type of contact, because an information was not gathered, contact couldn’t be personalised. Face to face contact also is not used because relationships between firm and customers are not interpersonal. The duration of exchange is discrete, but in some cases occurred over time. In this type of marketing the aim is to make the customer to buy at least once...
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...word-of-mouth behavior in the flourishing sports market. Journal of consumer Marketing, 22(5), 257-264. • Purpose of the study See how word of mouth affects sports market in women • Methodology adopted Media habits of 118 girls used to generate result using theory of consumer socialization • Findings Hypothesis were found true and females are influenced significantly by WOM • Managerial implications This study is limited to USA, other parts give a unexplored market • Conclusion WOM is a good influencer for teen girls in the US region w.r.t. sports market 2. Dix, S., Phau, I., & Pougnet, S. (2010). “Bend it like Beckham”: the influence of sports celebrities on young...
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...Walmart and Integrated Marketing Theresa Perrey MKT498/Integrated Marketing Strategies June 10, 2013 Heather Teague Integrated Marketing Integrated marketing in its most basic terms means to combine all forms of communication and messaging with regards to a product or service. Now this may seem simple but it can be very complex and requires a great deal of effort and time, however the pay off can be great. By creating an integrated marketing plan a company has the opportunity to build competitive advantage, increase sales and profits, while reducing time and stress, and saving money (Burgess, M. 2013). The purpose of integrated marketing is to wrap the messaging about a product or service around target audience and help them move through the range of stages within the buying process. When a company forms an integrated marketing plan it will concurrently combine the product image, develop a dialogue and nurture the relationship with the target audience (Burgess, M. 2013). The value found with integrated marketing is that it can assist companies with increasing its profits through enhanced effectiveness. Simply stated, a combined message has more impact than a disorganized heap of messages. In a flooded market, a constant, combined and clear message will have a better chance of driving through the 'noise' of countless commercial messages which barrage consumers on an everyday basis. Integrated marketing will connect brand messaging together that will give the target...
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...and quality failures. The marketing research and other similar costs categories should all be included in the Cost of Quality (CoQ) analysis. 1.1 Identification of Cost Categories Based on Roberta’s current CoQ analysis, there are 18 cost categories with question marks that she either did not have data for or wasn’t sure about including. For the prevention costs, Roberta is having problem with the costs of marketing research, customer/user perception surveys/clinics, supplier quality planning, supplier quality planning, quality program planning and reporting, and other prevention costs. As mentioned earlier in the case, Roberta wasn’t sure how the marketing manager would feel about including marketing research as a category in the CoQ because it seems that marketing research as well as the customer perception surveys have no direct relation with preventing product defects. In fact, the fast development and introduction of new product is a key factor that differentiates Aqua Fun from their competitors in the same market. To ensure the quality of the new products before they are launched into the market, it is essential for the company to develop effective and well-designed production plan through market research and customer perception surveys. After developing the new product, the next stage would be picking the qualified supplier. Therefore the supplier quality planning should also be included in the CoQ analysis. For the quality management purpose, the... 2. 1. Cost of Quality...
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...Introduction As globalization rises many organizations are developing competencies that will help create successful global leaders, this process will combine job exposure, international assignments, creating global project teams and various cross-culture sensitivity workshops. The purpose of this assignment is to create a formal annotated bibliography using the annotated bibliography entries from the six works related the inquiry topic I have created in Units 1, 2, and 3, the research article are as follows; The Elements of Leadership in a Global Environment, Global marketing managers, Developing leaders’ strategic thinking through global work experience: The moderating role of cultural distance, Responsible Leadership in Global Business: A New Approach to Leadership and Its Multi-Level Outcomes, Global Leadership: A New Framework for a Changing World, and Competitive Action in the Diffusion of Internet Technology Products in Emerging Markets: Implications for Global Marketing Managers. This six articles will analyzes each article research overview, purpose of study, methodology, key findings and limitations and opportunities of global leaders in various business sector. Article 1 Bishop, W. H. (2013). The Elements of Leadership in a Global Environment. Global Business & Organizational Excellence, 32(5), 78-85. doi:10.1002/joe.21505 Overview The articles states that American marketplace and globalization have led to recognition of diversity initiatives as not only...
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...Details of Assessment | Term and Year | 2, 2015 | Time allowed | 2 Hours | Assessment No | 1 | Assessment Weighting | 30% | Assessment Type | Written Response | Due Date | Week 5 | Room | 610 | Details of Subject | Qualification | BSB51207 Diploma of Marketing | Subject Name | Marketing Audit Report | | Details of Unit(s) of competency | Unit Code | BSBMKG515A Conduct a Marketing Audit | | | | | Details of Student | Student Name | | College | | Student ID | | Student Declaration: I declare that the work submitted is my own, and has not been copied or plagiarised from any person or source. | Signature: ___________________________ Date: _______/________/_______________ | Details of Assessor | Assessor’s Name | Jeevan Thapa | Assessment Outcome | Results | Satisfactory Not Satisfactory | Marks | / 30 | FEEDBACK TO STUDENTProgressive feedback to students, identifying gaps in competency and comments on positive improvements: | ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ | Student Declaration: I declare that I have been assessed in this unit, and I have been advised of my result. I also am aware...
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...Portland State University ETM 555/655 Winter 2016 Marketing Malpractice The Cause and the Cure [C hristensen, Clayton M., Scott Cook, and Taddy Hall. "Marketing malpractice." Harvard business review vol. 83, no.12, pp. 7483, 2005.] READING BRIEF #2: Dt 2/16/2016 COURSE: ETM 522/622 INSTRUCTOR: Prof. Shimon Shmueli PREPARED BY: Achala Kaushikkar Page 1 of 4 Portland State University ETM 555/655 Winter 2016 ARTICLE OVERVIEW This paper by Christensen, Cook and Hall is a mock up marketing customs and practices that are adopted by several organizations to launch appealing quality products every year in the market. However that fact that most don't make it big despite of magnanimous money and vivid creativity behind its promotion, becomes a mystery with a alarming concern. The mere argumentation by this article revolves around the concept of broken prototype of customer segmentation under marketing, which becomes the reason for the failure of products as they fail to respond to the demanding customer segments. The authors claim that products designed and launched, unfortunately do not accomplish the job, a customer is yearning to get done. It simply can be translated as the products and marketers often solve the wrong problems, improving their products...
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