...http://tomsshoes.com Introduction Blake MyCoskie established TOMS Shoes in May of 2006. (Fortune, 2008) MyCoskie competed on the second season of the hit show The Amazing Race, where he traveled to Argentina. There he met many children and adults who could not afford to buy shoes, he was troubled by this fact and wanted to do something about it. He traveled back to Argentina for vacation and it was then that he decided he would start a shoe business, but not an ordinary shoe business. He decided that for every shoe that was sold another shoe would be donated to a child in need. It was then that MyCoskie’s “One for One” marketing plan was created. (Time, 2007) Situation Analysis Product/Service Description http://tomsshoes.com The product that TOMS provides is an alpargata shoe. They are a form of shoes worn by Argentina farmers. These shoes are known for being very breathable because of their lightweight canvas top and leather insole. (http://www.wordnik.com/words/) They are slip-on as well as resilient, which helps in the fighting of podoconiosis, also known as “Mossy Foot”. This is a foot disease many people obtain from not wearing shoes while working in heavy soil. Fungus gets into the pores on the bottom of the foot and ends up destroying the lympathatic system (the tissue that fights against bacteria). TOMS is working to fight the disease and help bring shoes to people in need. (http://tomsshoes.com) TOMS has used its creativity skills to create other styles of shoes...
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...College Principles of Marketing Professor April E. Bailey TOMS Shoes Written Assignment #1 By Eduardo A. Flores 1. The video suggests that TOMS shoes are primarily bought and valued by a younger generation. Discuss how each of the following generational groups might react to TOMS shoes: the baby boomers, Generation X, and the Millennials Considering the present economic instability, the sense of environmental responsibility and the inner maturity carried by the 78 million plus baby boomers, I believe TOMS shoes would have a very proactive response from this generational group (Baby Boomers) as far as consumption is concerned. I believe it could work both ways, they might purchase them as gifts to a younger family member or they might like a model and purchase it for themselves, either way is the “One for One” marketing strategy that motivates their sense of giving (shoes) that ultimately nurtures the enjoyment of helping others while they help themselves saving some extra money. According to the textbook, Principles of Marketing 14th Edition, one study showed that boomers, on average, see themselves 12 years younger than they actually are. And rather than viewing themselves as phasing out, they see themselves as entering new life phases. “Today’s boomer’s think young no matter how old they are.” This supports the idea that boomers could adapt with easiness to TOMS shoes since they see themselves...
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...Situational Problem Tom Owen is working towards increasing his business and profit by the means of changing his current services and products or offering new ones to meet his customers' needs, or by keeping his current products and services the same, but offering them to new markets. S.W.O.T. Analysis Strengths: * Tom Owen himself is an asset in his knowledge of soccer and his ability to get along with the kids he's teaching. * Hiring instructors with similar qualities to create a good workforce. * MANU's market penetration of the Fort Collins area ensures that all soccer players age 11 to 14 are aware of his soccer program. Weaknesses: * MANU's dependence on Tom Owen in all of its functions offers little opportunity for him to expand to other locations. Opportunities: * The close proximity to three large cities that offer limited soccer training camps. Threats: * Some parents may consider soccer as a luxury that can be eliminated in face of economic downturn and growing unemployment. * The emergence of new soccer training programs in direct competition with MANU. Market Situation Approximately 90 percent of MANU’s customers live in Fort Collins which has a population of 110,000. Greeley and Longmont are about 25 miles away by interstate highway and have a population of approximately 80,000 each. Loveland is a city that is also about 25 miles from Fort Collins and has a population of approximately 60,000. Competitive Situation There...
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...successful business only because it provides high quality entertainment, but also because of the way NASCAR markets itself to its fans. NASCAR has grown to have one of the best marketing strategies in the world. The initial strategy of NASCAR is to appeal to their fans. They have attracted over seventy-five million loyal, devoted fans around the world. NASCAR uses its advertisements, reviews, content, promotions, and several other tactics as ways to continue to appeal to their fans and gain new fans. Another crucial strategy of the sport is their use of web and digital content. Over the last decade, the company has extremely increased its digital and web content to market the company. NASCAR introduces new information about the company, posts videos of previous races or interviews with drivers, and a variety of other things to help people experience what it is like to attend an actual event. Next, NASCAR has chosen to take advantage of sales promotions, but the key to their success that is differs from other companies is the company targets third-party promotions. Examples of these promotions are the free tickets given to radio stations to help promote both the radio station and NASCAR, the NASCAR logo on hats, t-shirts, bumper stickers, etc., and more. Additionally, an effective marketing strategy is sponsorship. By gathering a hosts of different corporate sponsors, the corporations are able to appeal to all of the fans around the world as their logos flash across the television...
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...| Quality Management in Business | Toyota | | St. Patricks International College | | Kamila Zak | 2014-05-27 | | Table of contents 1 Introduction…………………………………………………………………………….. 2 Definitions of quality in terms of business and services provision ……………………. 3 Processes of inspection and assurance…………………………………………………. 4 Range of approaches to quality management…………………………………………. 5 Similarities and differences between the different methods of quality management… 6 Customer satisfaction meaning………………………………………………………. 7 Continuous improvement……………………………………………………………… 8 Added values……………………………………………………………………….. 9 Effective marketing…………………………………………………………………… LO.1 INTRODUCTION All businesses are in competition with others. To gain competitive advantages companies use numerous ways for example lower prices, better product-quality or better service. Toyota is Japanese car manufacture with multinational cooperation consisted of 333,498 employees worldwide. Our four core values are :Customer first, Respect for people, International focus, Continuous improvement and Innovation. QUALITY IN BUSINESS Quality is defined by customer. The quality product or service is one that meets customer requirements. In term of business and service provision the quality of product or service refers to the perception of the degree to which the product or service meets the customer expectations. There is no specific meaning of quality unless it is related to specific...
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...6.1 Marketing Mix Marketing mix is a set of controllable marketing tactics used by business to promote their product and achieve its marketing objectives. (L. Lake, 15 June 2017) Marketing mix is also called the 4Ps which consist of Promotion, Place, Product and Price. (M. J. Baker, 2001, p.54) 6.1.1 Product A product is the item that business makes with aim to fulfil the needs and wants of customers. It is also the item that business actually sold to the customers. For our company, our product is the ice cream. (Talloo, 2007, p.154) 6.1.1.1 Product Design- features and quality Our company has designed our products according to the features and quality that all range of customer desires. Our ice cream is made from natural fruits such as...
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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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...Running head: KRISPY KREME DOUGHNUTS, INC.: A CASE ANALYSIS Krispy Kreme Doughnuts, Inc.: A Case Analysis Presented to By October 09, 2009 Table of Contents II. Table of Contents 2 III. Executive Summary 3 IV. Situational Analysis 5 A. Environment 5 B. Industry Analysis 5 C. The Organization 7 D. The Marketing Strategy 9 V. Problems Found in Situational Analysis 10 A. Statement of primary problem. 10 B. Statement of secondary problem 12 C. Statement of tertiary problem. 13 VI. Formulate, evaluate, and record alternative course(s) of action 14 A. Strategic Alternative 1 14 1. Benefits 14 2. Costs 15 B. Strategic Alternative 2 16 1. Benefits 16 2. Costs 19 C. Strategic Alternative 3 19 1. Benefits 19 2. Costs 21 VII. Selection of Strategic Alternative and Implementation 22 A. Statement of Selected Strategy 22 B. Justification of Selected Strategy 23 C. Description of the implementation of strategy. 23 VIII. Summary 28 IX. Appendices 29 A. Financial Analysis and Selected Tables 29 B. Reference List 32 Executive Summary Krispy Kreme Doughnuts, Inc., began as a family-owned business back in 1937, as an expansion of a pre-existing business, when Vernon Rudolph purchased a doughnut shop along with the now-famous secret recipe for making yeast-raised doughnuts. His doughnuts, which he delivered to grocery stores in the Winston-Salem, North Carolina area, quickly became...
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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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...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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