...1) Recently, some marketers have noted that it is easier to develop communications programs to Generation X members than Generation Y. Briefly describe the characteristics of Gen X and Gen Y and whether or not you believe this to be true. There is some debate as to whether Gen X’ers (born between 1965-1978) or Gen Y’ers (1978 to 1986) is more easily targeted by marketers. Each of these groups has their own identifying characteristics. Generation X consumers are typically characterized as self-confident, yet distrustful of those of previous generations (and of marketing practices). They also tend to be less optimistic than their Gen Y counterparts. They are demanding consumers, less concerned with brand names and image and more concerned with quality. Gen Y consumers love to spend. They process information quickly, are quick to adopt new technologies and are more optimistic about the future. In the eyes of some, they are “shameless consumers”. Compared to Gen X they are less rooted in social mores, and buy because they like to do so. While marketers may argue that Gen X is hard to relate to and more cynical and skeptical than the Y’ers, once you have their trust, they will become loyal and remain so—making them an attractive segment. The key is getting their trust. On the other hand, reaching Gen Y is not as hard. They will buy based on wants rather than needs, focus on image and brands, and consume as a way of life. They are easier to reach given a proliferation of media—particularly...
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...Customer Acquisition Customer acquisition is a broad term that is used to identify the processes and procedures used to locate, qualify and ultimately secure the business of new customers. There are many different strategies used as part of the acquisition process, with some methods being more effective with specific types of potential clients. In spite of the many and sometimes contradictory ideas that surround the central idea of how to earn a customer, there are a few essentials that are included in just about any type of customer acquisition plan. One of the basics of any customer acquisition effort is to identify and quality potential customers. This is sometimes accomplished with the use of telemarketing as a means of locating individuals and businesses who either express interest in or already use products similar to those produced by the business. From this initial list, these leads are then qualified a little further, using various research methods to determine if there is any solid chance of making a sale with a given lead. If there is a good chance, and the contact is interested in learning more about the products offered, his or her status is usually upgraded to that of prospect, and assigned to a salesperson for further interaction. Establishing rapport with the prospect is essential to any successful customer acquisition effort. Here, the salesperson finds ways to identify with the stated wants and needs of the prospect, and how the products offered can relate...
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...about your job and how the organization assists you | Strongly Disagree | Somewhat Disagree | Neither Agree nor Disagree | Somewhat Agree | Strongly Agree | I feel encouraged to come up with new and better ways of doing things. | | | | | | New work ways gives me a feeling of personal accomplishment. | | | | | | I have the tools and resources to do my job well. | | | | | | On my job, I have clearly defined quality goals. | | | | | | The Company does an excellent job of keeping employees informed about matters affecting us. | | | | | | When a customer is dissatisfied, I can usually correct the problem to their satisfaction. | | | | | | I understand why it is so important for (Company name) to value diversity (to recognize and respect the value of differences in race, gender, age, etc.) | | | | | | My job makes good use of my skills and abilities. | | | | | | My supervisor’s manager visibly demonstrates a commitment to quality. | | | | | | Senior managers visibly demonstrate a commitment to quality. | | | | | | How satisfied are you with the information you receive from management on what is going on in your division...
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...Definitions of marketing 1.3 Importance of marketing 1.4 Scope of marketing 1.5 Concepts of marketing 1.6 Role of marketing manager in changing environment 1.7 Summary 1.8 Exercise 1.0 OBJECTIVES After studying this chapter students will be able to: Understand the meaning and definition of marketing. Explain the nature of marketing Discuss the importance of marketing Know the scope of marketing Explain the concepts of marketing 1.1 INTRODUCTION The emergence of ‗marketing‘ as a business discipline is of relatively recent origin. Though it has been practiced from the time of barter through money economy to today‘s modern complex marketing system, exchanges have been taking place. The ideas associated with marketing have undergone a great deal of change over centuries. Even after marketing became a full–fledged business discipline. Marketing, more than any other business function, deals with customer. It revolves around the customer. Building relationship based on customer value and satisfaction is at the very heart of modern marketing. The pricing strategies adopted the promotional tools selected; the design, shape and size of the product and the place of sales etc. are all decided after finding out the lifestyle, culture, buying habits and media consumption habits etc of all customers Marketing links producers and consumers together for mutual benefits production will be meaningless if goods produced are not supplied to consumers through appropriate marketing mechanism...
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...IIBM Institute of Business Management Marketing Management www.iibmindia.in Subject: MARKETING MANAGEMENT Credits: 4 SYLLABUS Concepts of Marketing Management: Definition and Concepts: Definitions of Marketing, Scope of Marketing; Core Marketing Concepts: Concept of Demand and Supply; Transaction; Major Marketing Management Philosophy; Social Marketing Marketing Environment - Internal & External Marketing Environment Forces; Macro Environment; Micro and Internal Environment; Factors Influencing Consumer Buyer Behavior; Buyer Decision Process; Inputs for Buying Decision Process; Consumer Trends; Market Segmentation Process. Developing Market Strategies and the Offerings Part –I Positioning and Differentiation: Concept, Positioning according to Ries and Trout, Various Tools of Differentiation; Product Decisions and Strategies; Product Mix; Product Life Cycle; Brand Positioning; Brand Identity; Equity and Packaging. Developing Market Strategies and the Offerings - Part II: Introduction to Service Marketing; Differentiating Services; Product and Service Price; Response to Change in Price; Pricing Strategies. Delivering Marketing Programs – Part I Marketing through Channel Partners; Wholesalers and Retailers: Current Trend; Channel Management. Delivering Marketing Programs – Part II Market Communication, Process for Effective Communication; Advertising; Different Advertising Media; Sales Promotion; Public Relations; Direct Marketing; Personal Selling:...
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...importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firm's intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit organizations. Answer: B Page Ref: 4 Objective: 1 Difficulty: Easy 2) ________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. A) Marketing management B) Knowledge management C) Operations management D) Strategic management E) Distribution management Answer: A Page Ref: 5 Objective: 2 Difficulty: Easy 3) Identify the correct statement about marketing management. A) It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services. B) It focuses mostly on monitoring the profitability of a company's products and services. C) It focuses solely on attaining an organization's sales goals in an efficient manner. D) It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy. E) It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties. Answer: E Page Ref: 5 Objective: 2 Difficulty: Moderate 4) A social...
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...Advertising, Promotion, and other aspects of Integrated Marketing Communications Terence A. Shimp University of South Carolina Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States Advertising, Promotion, & Other Aspects of Integrated Marketing Communications, 8e Terence A. Shimp Vice President of Editorial, Business: Jack W. Calhoun Vice President/Editor-in-Chief: Melissa S. Acuna Acquisitions Editor: Mike Roche Sr. Developmental Editor: Susanna C. Smart Marketing Manager: Mike Aliscad Content Project Manager: Corey Geissler Media Editor: John Rich Production Technology Analyst: Emily Gross Frontlist Buyer, Manufacturing: Diane Gibbons Production Service: PrePressPMG Sr. Art Director: Stacy Shirley Internal Designer: Chris Miller/cmiller design Cover Designer: Chris Miller/cmiller design Cover Image: Getty Images/The Image Bank Permission Aquistion Manager/Photo: Deanna Ettinger Permission Aquistion Manager/Text: Mardell Glinski Schultz © 2010, 2007 South-Western, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution, information storage and retrieval systems, or in any other manner—except as may be permitted by the license terms herein. For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support...
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...Millenium Edition, Tenth Edition, by Philip Kotler Copyright © 2000 by Prentice-Hall, Inc. All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher. Compilation Copyright © 2002 by Pearson Custom Publishing. This copyright covers material written expressly for this volume by the editor/s as well as the compilation itself. It does not cover the individual selections herein that first appeared elsewhere. Permission to reprint these has been obtained by Pearson Custom Publishing for this edition only. Further reproduction by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system, must be arranged with the individual copyright holders noted. This special edition published in cooperation with Pearson Custom Publishing Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 Please visit our web site at www.pearsoncustom.com ISBN 0–536–63099-2 BA 993095 PEARSON CUSTOM PUBLISHING 75 Arlington Street, Suite 300, Boston, MA 02116 A Pearson Education Company SECTION ONE Understanding Marketing Management Marketing in the Twenty-First Century We will address the following questions: ■ What are the tasks of marketing? ■ What are the major concepts and tools of marketing? ■ What orientations do companies exhibit in the marketplace? ■ How are companies and marketers responding to the new challenges? C hange is occurring...
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...Business Environment Assignment |Qualification |Unit number - title - level | |BTEC Level 5 HND in Business |Unit 1 – Business Environment - Level 4 | |Student name |Assessor name | |Simon Varga |Susan Simei-Cunningham | | |Berlin Asong | |Internal Verifier |Alan Jeffery | |Date issued |Completion date |Submitted on | |26th January 2015 |27th March 2015 before midday | | |Assignment title |Business Environment - Shaping Your Future – A Vocational Scenario ...
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...UNIT – I SIGNIFICANCE OF SERVICES MARKETING Proper marketing of services contributes substantially to the process of development. If innovative marketing principles are followed in services marketing, the socio-economic transformation will take place at a much faster rate. In future, the service sector would operate in a conducive environment offering great potential. If the opportunities are properly utilised by the service sector, it will lead to an all round development of the economy. The significance of the service economy may be discussed under the following headings: 1. Generation of employment opportunities 2. Optimum utilisation of resources 3. Capital formation 4. Increased standard of living 5. Use of environment-friendly technology. 1. Generation of employment Opportunities The components of the service sector are wide and varied. For example, the service sector includes personal care services, education services, medicare services, communication services, tourism services, hospitality services, banking services, insurance services, transportation services, consultancy services, etc The organised and systematic development of the service sector would create enormous employment opportunities. Application of marketing principles in the I service sector is instrumental to the development of the economy. However, it is appropriate to mention that India has not been successful in utilising the potential of the service sector. As seen in Table 1.1, in USA about 80 per cent...
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...I've always thought that was probably why Marketers began referring to Place as Channels, to move us away from "The "4 P's" as a description of all of what Marketing is about; nevertheless, "place" is a convenient way to think of the term Channels of Distribution. |Distribution is particularly important in a country |[pic] | |like Canada with our huge size and our northern | | |climate. Every spring, trucks go down through the ice | | |in places where frozen water is used as a seasonal | | |road; this truck is sinking in Lake Winnipeg. | | |[pic] | |his was one of the hardest lectures to put onto the web, partly because an Internet class misses the costume and theatrics of when| |I teach it on-campus. Although I usually dress in reasonably formal business attire for my Intro Marketing lectures, on this day I| |show up in what I wear when out doing my academic research on the...
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...Century Current and Future Trends With 79 Figures and 32 Tables 12 Professor Dr. Manfred Krafft University of Muenster Institute of Marketing Am Stadtgraben 13±15 48143 Muenster Germany mkrafft@uni-muenster.de Professor Murali K. Mantrala, PhD University of Missouri ± Columbia College of Business 438 Cornell Hall Columbia, MO 65211 USA mantralam@missouri.edu ISBN-10 3-540-28399-4 Springer Berlin Heidelberg New York ISBN-13 978-3-540-28399-7 Springer Berlin Heidelberg New York Cataloging-in-Publication Data Library of Congress Control Number: 2005932316 This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. Springer is a part of Springer Science+Business Media springeronline.com ° Springer Berlin ´ Heidelberg 2006 Printed in Germany The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws...
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...multi-stakeholders from participating in the Gladmat festival in Stavanger. The findings of this study can help festival and event managers to understand which major factors can attract group of stakeholders to the festival. It could help them to formulate policies, to offer suitable segment focusing on the marketing field. Stakeholder theory, the benefit segmentation theory, push and pull motivation theory, and Maslow’s hierarchy theory were applied to find the benefits of stakeholders for participating in the festival. Mixed method research have been used to collect the data, three qualitative studies and one quantitative study is carried out to explore and describe the benefits from the festival. The outcome from the qualitative shows owners benefits by positioning and marketing their product, supporting the local business, creating destination image and other factors. While, the exhibitors benefit by creating brand loyalty of business, increase sales, promotion of the business, gathering knowledge and competitive information, and innovation in product development and process. Municipality benefits in terms of corporate social responsibility, and creating...
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...MASARYKOVA UNIVERZITA Ekonomicko-správní fakulta Studijní obor: Podnikové hospodářství Kombinované studium [pic] PROPOSAL OF A MARKETING STRATEGY Návrh marketingové strategie Diploma thesis /Diplomová práce Vedoucí diplomové práce/Supervisor: Autor/Author: Ing. Klára KAŠPAROVÁ Mgr. Jana LUDÍKOVÁ Brno, červen 2008 Brno, June 2008 |Jméno a příjmení autora: |Jana Ludíková | |Author´s name: | | |Název diplomové práce: |Návrh marketingové strategie | |Title of the diploma thesis: | | |Název práce v angličtině: |Proposal of a Marketing Strategy | |English title of the diploma thesis: | | |Katedra: |podnikového hospodářství | |Departement |of corporate economy | |Vedoucí diplomové...
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...A study into the use of sponsorship as a marketing tool for sports organisations and its importance in the marketing communication mix Ralph Cartwright 10338648 Abstract Over the last few decades, the viewing of sport has continued to gather attention and be targeted and integrated by marketers as a part of the communication mix for organisations and brands. Therefore, the aim of this research project is to analyse the effectiveness of sport Sponsorship for Companies as a marketing tool. Supported by examples the researcher will explore an array of factors concerning the issues facing companies that invest large amounts of money into sports events, teams and athletes hoping for a return on investment each year. This project will also inform the reader of the strategies of selection sponsors go through when identifying which team, athlete or event to choose based on their objectives and type of industry. From this information, the project will then identify the positives and negatives of sport sponsorship, as it is obvious that not all organisations will benefit from this type of communication tool. Various examples and case studies concerning sponsorship and organisations will be identified and examined throughout. Contents Page Chapter 1 – Introduction of Study 5 1.1 Background 5 1.2 Study Purpose 6 1.3 Study Objective 7 1.4 Study Structure 7 1.5 Rationale of the research 8 Chapter 2 - Literature Review 9 2.1...
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