Marketing Assignment Help | Marketing Assignment Help with Onlineassignemnt.net

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Marketing Homework Help | Marketing Assignment Help

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Marketing Assignment Help | Marketing Assignment Help with Onlineassignemnt.net

  1. 1. Online Assignment – Your Homework Help PartnerSUBJECT: MarketingTask One:a) What are the types of information available with an organizationfrom its own internal sources?From internal resources Internal data are usually derived from sixsources the accounting system, sales reports, the client list, a Website “hits” report, company staff, and previous studies. It should bepointed out that a survey or study performed by the company isconsidered primary data gathering at the time of the study, but thatthe report retained as a file then becomes part of the internal data.These are all valuable tools for measuring the performance ofcultural organizations.The accounting system can furnish a great deal of interestinginformation – for example, the break-even point for the companyas a whole or for each company -product individually. It alsoenables the marketing manager to measure how profitablecorporate marketing efforts have been. An analysis of the datasupplied by the accounting system can orient the firm and thegathering of primary and secondary data.Companies can also use data drawn from sales reports generated
  2. 2. by the box office or customer billings. Box-office data enable themarketing manager to plot the sales curve of a particular event,compare it to previous years, and decide, if necessary, whatmeasures to take. These measures may affect one or severalvariables in the marketing mix. For example, if there is always adrop in sales a few weeks after the start of an event, it might beworth increasing the promotion budget for this period in order tomaintain or increase attendance figures.Such data enable a company to correct a strategy, based on theresults obtained. Over the years, company standards may developas guidelines not only for analyzing or forecasting sales figures butalso for enhancing the marketing planning process.The client, subscriber, or donor list of an organization, be itcommercial or non-profit, is a mine of interesting information. Thegeographic location of customers, for example, is actually acompany’s trading area.For other useful information, the marketing manager need look nofurther than the staff members who actually come into contact withthe customers. These include telephone operators, ticket agents,ushers, security guards, guide-interpreters, and restaurant and barpersonnel. Employees in communications or sales can collect datathat may prove highly relevant to those making the final decisions.Of course, every analyst must be well acquainted with previousstudies or surveys. Although the information may have becomeoutdated, it can provide important clues on how to analyze thecurrent situation. It might even be worthwhile repeating theexperiment to compare the new data with the old.Finally, thanks to the proliferation of Web sites, it is relatively easyfor a company to obtain information on a particular industry. Forexample, all professional associations in the arts and cultural sector
  3. 3. have an Internet site, many of which provide direct links to theassociation’s member organizations.1For your organisation, what are the sources of informationavailable within the company, and how this information beingused? Review the system for capturing marketing information, andexamine how this system can be improved.As discussed in previous answer internal data consist of suchinformation as data generated in house for earlier studies as well asanalysis of customer files ,Retail organization like mine containspast customer transactions ,letters from customers ,sales callreports, and data collected via warranty cards. Increasinglyorganization like mine use these data to compute Customerlifetime value profiles for various customer segmentation. Theseprofile include customer acquisitions cost(the resources needed toestablish a relationship with the customer),the profit generated2USING THE DATABASE 1) To Identify Prospect: company identifies orspects by generating leads by advertising their product or servise.The ad generally contains the ad feature ,such as business reply card or toll free phone number.The database is built from these responses.The company sorts through the data base to identify the best prospects,then contacts them by mail,phone,or personal call in an attempt to make them into customers 2) To Decide which customer should get particular offer.Companies are interested in selling,up selling and cross selling their products and services .company set up criteria describing the ideal target customer for a particular
  4. 4. offer.Then they search their customer database for those who most closely resemble the ideal type .By nothing response rates a company can improve its targeting precision over time .Following a sale , it can set upan automatic sequence of activities 3) To Deepen Customer Loyalty : Companies can build interest and enthusiasm by remembering customer preferences ;by sending appropriate gifts,discounts couponsand interesting reading material 4) To Reactive Customer Purchases: Customer can install automatic mailing programme(automatic marketing) that send out birthday or anniversary cards,Christmas shopping reminders ,offseason promotions,the database can help the company make attaractive or timely offers35 ) To Avoid Serious Customer Mistake: Customerrelationship management is the most important concept of themodern day marketing. CRM is all about managing detailedinformation about the individual customers and carefully managingthese customers by delivering superior customer value andsatisfaction. CRM is also known as data base management. Morethan just a software package, it involves people across virtuallyevery area of a company in a process that captures data and appliesit to strengthen customer relationships, improve communication,identify and act on selling opportunities, save money, enhancecustomer loyalty and increase profitability.With the help of CRM the companies can manage the data base oftheir customers; this data base helps the organization to sort bestpossible information about the customers and to retrieve it ontimely basis. Such laser like precision and efficiency, coupled withthe comprehensive customer histories in your CRM program, canadd muscle to your sales team, allowing them to spot sellingopportunities and act on them. In addition, you can examine dataabout customers and create profiles of your best and most
  5. 5. profitable customers, dividing them by industry, geography, size ofcompany or other demographics. In doing so, your company canensure that it is focusing marketing efforts on its best customersand prospects, again avoiding the waste of targeting customerswho are not profitable and prospects who aren’t a good fit for yourbusiness4TASK 2 a. What are the advantages of qualitative research over quantitative research?Qualitative research design is a method of experimentation usedextensively by scientists and researchers studying human behaviorand habits. It is also very useful for product designers who want tomake a product that will sell.For example, a designer generating some ideas for a new productmight want to study people’s habits and preferences, to make surethat the product is commercially viable. Quantitative research isthen used to assess whether the completed design is popular ornot.5Some marketers prefer more qualitative methods for gaugingconsumer opinion because consumer actions do not always matchtheir answers to survey questions.Qualitative research techniquesare relatively unstructured measurement approaches that permits arange of possible response ,and they are creative means ofascertaining consumer perceptions that may otherwise be difficultto uncoverQuantitative market research projects often include larger numbersof respondents (quantity, as the name implies) and for that reasontend to cost significantly more than qualitative market researchdoes 6
  6. 6. Qualitative techniques are extremely useful when a subject is toocomplex be answered by a simple yes or no hypothesis. Thesetypes of designs are much easier to plan and carry out, useful whenbudgetary decisions have to be taken into account.The broader scope covered by these designs ensures that someuseful data is always generated, whereas an unproved hypothesis ina quantitative experiment can mean that a lot of time has beenwasted. Qualitative research methods are not as dependent uponsample sizes as quantitative methods; a case study, for example,can generate meaningful results with a small sample group7 b. Assume that a leading toiletries and home products manufacturer has the formula for a new brand of toothpaste which removes bacteria and plaque from the teeth, which build up at night. He wants to know what branding and positioning strategy to follow for the launch of this new toothpaste. Design a qualitative study with discussion group guidelines and projective techniques to be used for focus groups to be used to determine if this toothpaste can be positioned as a “night” use toothpaste.Recently, there has been a huge growth in the number of differentflavors for toothpaste on the market - a trend that is set to havecaught the imaginations of many consumers who have grown tiredof box standard mint flavorings. Many consumers base a lot oftheir purchase decisions on how comfortable a toothpaste feels intheir mouths, whether the taste is good enough, whether thetoothpaste suits their mouth, or whether the toothpaste contains allthe possible ingredients for protection of their teeth. They also basetheir purchases around the ability of the toothpaste to “removefood particles; plaque removal and gum stimulation
  7. 7. Consumers first purchased toothpastes without much knowledge orinformation concerning the product’s benefits. As new productdevelopmentincreased, and consumers became better informed about thebenefits oftoothpastes, they began to focus their interest not only on cavityprevention,but also on the health of their gums, their oral hygiene, and theircosmeticappearance. Because consumer interest and toothpaste purchasesbegan toincrease, advertising and promotion also began to increase, whichlead to thedevelopment and addition of the super-premium product class.Consumers began to purchase toothpastes based on the specificbenefits each toothpastes and company had to offer.4 P’S OF PRODUCT MIX1) PriceUnder a mainstream-positioning strategy,. The price would beeconomical as compared to other toothpaste brands to earnmaximum profits2)ProductIt is a product that should add valueto a buyer’s life. It should also add utility, and meet the wants andneeds oftargeted consumers. The product should be unique and differentfrom allsimilar products that are already available on the market. Thestrategy is todifferentiate the product’s design and packaging, which in return
  8. 8. will causethe toothpaste to stand out.3)PlaceThe most important part of marketing is how our product will getfrom theseller to the buyer. Many products go through a channel ofdistribution,which involves manufactures, wholesalers, retailers, andconsumers4) PromotionProduct promotion is communication spread through advertising,publicity, and sales promotion. Toothpaste wouldadvertise their products by using commercial, magazine ads, theradio,ads that are to be placed in dentist offices, billboards, and the sidesofbuses. Advertising would also be done to promote new products,remind consumers ofexisting products, and also promote the image of the company athand. special coupons and rebates would be offered and also foodproductsTarget market proposed strategiesThe first segment market that ‘toothpaste’ will target will beconsumers who are concerned about oral health issues, such asfighting plaque and gum disease. These consumers are known as“therapeuticconsumers,” because they purchase products, toothbrushes, thatwill be the most effective when it comes to oral health care. Theseconsumers “buy anduse products for themselves,”. Consumers inthis target marketusually do not care about the price, as long asthey are getting the highestquality products. Most consumers in
  9. 9. this segment are adults, especially oneswho have oral healthproblems.Advertising and promotion would be done throughcommercials,magazines, radio, and ads put up in places such asdentists offices. Theseadvertising and promotion mediums wouldtarget this segment’s consumers,and would focus on the benefits toothpaste has to offer inconnection with oral healthcare. Commercials made for this marketsegment would also show the benefits of the toothpaste, possiblythroughdemonstration. Commercials would air at night during “prime-time”, the time in which most people watch television, and duringthe day, especially during soap operas. These are the time periodsin which more adults watchtelevision.8Marketing strategy - Launching a new brand:Well, in this clutter of toothpaste brands is there a possibility for anew brand to grow and gain significant market share? Only adisruptive strategy will help.How about a toothpaste specially made for brushing at night? Ifsuch a product has its benefits and is proven scientifically, then itwill be easy to weave a marketing strategy around this concept andmake every other brand as morning toothpaste category. This willhelp the new brand to gain significant market share in its niche,night dental care segment.Win-Win:As still significant percentage of people brush only in the morning,a separate toothpaste for night will push more people to brushbefore going to bed. This will not only improve the topline growthof toothpaste brands, but also help people develop the good habitof brushing twice a day.9
  10. 10. TASK 3Design and execute an online survey for a DVD rental company.The objective of the survey is to determine the level of competitionin the market, and customer satisfaction with existing DVD rentalsin your area.Design and email the questionnaire to 25 respondents, and analysethe results.Around 7 companies offer online DVD rental in the city. Many arepowered by LoveFilm, the UK’s biggest online rental company,but the market still offers a good choice of independents anddifferent subscription packages.See our DVD rental table below for a comparison of some of thebiggest online DVD rental companies and what they offer.Online DVD rental services compared (10)Online DVD rental providers Game Numbe Basic Medium Premium Fre rentalService r of user user user e availablprovider DVDs package package package trial e £15.99 £12.71 (Unlimite £4.88 (2 (unlimite d rentals,Blockbuste per 14 65,000+ d rentals, 2 at a Nor month, 1 days 2 at a time, 2 in at a time) time) store rentals. £4.89 (2 £12.49 £14.99Cinema per (unlimite (Unlimite 14 65,000+ NoParadiso month, 1 d rentals, d rentals,3 days at a time) 2 at a at a time)
  11. 11. Online DVD rental providers Game Numbe Basic Medium Premium Fre rentalService r of user user user e availablprovider DVDs package package package trial e time) £12.72 £15.65 £3.91 (2 (unlimite (Unlimite per 14LoveFilm 65,000+ d rentals, d rentals, Yes month, 1 days 2 at a 3 at a at a time) time) time) £4.88 (2 £12.71 £24.46 DVDs (unlimite b (Unlimite 14Out Now 65,000+ per d rentals, No d rentals,6 days month, 2 2 at a at a time) at a time) time) £3.88 (2 £11.72 £14.66 DVDs (unlimite c (Unlimite 14Tesco 56,000+ per d rentals, Yes d rentals,3 days month, 1 2 at a at a time) at a time) time) £9.78 £12.72 £15.65 (unlimite (unlimiteWH Smith (unlimited 30c 60,500+ d rentals, d rentals, Yes rentals, 3 days 1 at a 2 at a at a time) time) time)The SunMovie 65,000+ £3 dClubWe have conducted a survey to compare the level of customersatisfaction as well as the level of competition prevailing in themarket.
  12. 12. It gives a great pleasure having you as our esteem customer.On completing of a successful year, we would like to serve youbetter. Kindly fill the following survey and help us to serveyour better. We appreciate you taking the time to complete this briefsurvey. It will help us learn how to better meet your needs forour DVD rental machines.The survey will take roughly 3 to 4 minutes to complete.Remember, survey participants will be given a Promo Code fora free rental!Your information will only be used for this research projectand will not be passed on to any other companies.1. How did you first learn about Instant DVD’s rentalmachine? In-store demo Flyer handed out in store Seeing the machine in store Email referral Word of mouth Other2. How many times have you used Instant DVD’s rentalmachine?
  13. 13. Once 2-4 5 or more3. Since you discovered Instant DVD’s rental machine are youvisiting the store? More frequently Less frequently Same as before4. If you are visiting more often how many times? One additional trip per week Two additional trips per week More than two additional trips per week Not Applicable5. When using Instant DVD’s rental machine what is mostimportant to you? Cost Convenience Movie selection Other6. How would you rate the DVD rental machine as a service? Very positive Mildly positive Makes no difference Don’t like the service7. What is important to you when chosing which DVD to rent?
  14. 14. Genre Top 20 Renters Actors or Directors Website showing current and coming New Releases Other8. When you buy DVDs do you? Like to rent a DVD and then buy it if you like it Just buy a DVD if you think you’ll like it Mostly buy DVDs as gifts Rarely buy DVDs9. Does renting a DVD influence the DVDs you buy? Makes little difference More likely to buy a new release DVD Less likely to buy a new release DVD10. Are you more likely to buy a DVD if you received PromoCodes for discounted rentals on other DVDs? More likely Less likely Makes no difference11. Are you more likely to visit a supermarket or conveniencestore where you can rent DVDs? Much more likely Somewhat more likely Makes no difference Less likely
  15. 15. 12. Now that you can rent from an Instant DVD rentalmachine? I will continue to visit the local video store but less often I will not visit the video store I will visit the local video store about the same as before13. Do you know approximately how much your local videostore charges to rent an overnight new release DVD? More than $7.50 Between $5.50 - $7.50 Between $3.50 - $5.50 Don’t know14. How would you rate the ability to rent from any InstantDVD rental machine and return to any other machine? Extremely valuable Very valuable Somewhat valuable Not valuable15a. Would you be interested in a monthly subscription whereyou can rent unlimited DVDs from any of the machines eachmonth (1 at a time). Very interested Mildly interested I prefer to just pay $2.99 each time I rent Not interested
  16. 16. 15b. If you were interested in a monthly subsription for rentingDVDs what would you be willing to pay each month for thisservice?16. When you rent or return a DVD at the supermarket orconvenience store what other products might you be interestedin purchasing?(tick all that apply) Snacks and drinks to consume while watching the movie Ready made meals for my next meal Some household groceries I’m running short of (e.g. Milk,eggs, bread) My weekly grocery shopping I wouldn’t buy anything, just rent a DVD17. What other suggestions for improvement or new featureswould you like to see?(tick all that apply) A weekly new releases email newsletter Coming new releases and movie trailers on the Instant DVDwebsite The ability to view a machine’s inventory online and reserve aDVD for pickup later The ability to purchase ex-rental DVDs from the machine Back catalogue DVDs via an online mail order subscriptionservice similar to Bigpond Movies or Quickflix?Customer satisfaction determination:
  17. 17. A. Was the DVD ordered received within stipulated time: yes/no B. Was the visual quality of DVD good enough: yes/no C. Was the sound quality of DVD good enough: yes/no D. Was the DVD correctly sent: yes/no E. Was the price charged fair: yes/no F. Was the DVD available on 1st request: yes/no G. Was the pick up done on time: yes/no H. Would you prefer this DVD rental company over other companies: yes/no I. Would you like to order again from this DVD parlour: yes/no J. Are you satisfied with the service? If no why: yes/no K. Please provide us any other comments, suggestions or feedback you might have:What is your age? 0-18 18-24 25-34 35-44 45-54 55 or over
  18. 18. Name:Gender:Location:Analysis for customer satisfaction: 24 23 22 number of 21 people answering in 20 yes 19 18 A B C D E F G H I J
  19. 19. From the bar graph above it can be easily depicted that number ofpeople answering in a positive manner (out of sample size: 25) isvery high. So, it can be said that the company is running with greatcustomer satisfaction.10Few suggestions that were received are: 1. to keep more old English classics 2. to open up more outlets in neighbourhood. Reference listReferences Source1) 1 www.gestiondesarts.com/index.php?id article2) (Consumer Behaviour) by LeonG.schiffman,leslie lazar kanuk Book,9th edition ,pg 403) PHILIP KOTLER & KELVIN KELLER edition 12 e , page Book107
  20. 20. 4) HTTPS://WWW.CRMASSOCIATION.ORG Web5) http://www.experiment-resources.com/qualitative-research- Electronicdesign.html#ixzz0I9SKbYZZ&D book6) http://wiki.answers.com/Q/What_are_the_advantages_and_disadvantages_of_qualitative_and_quantitative_research Web7 ) http://www.experiment-resources.com/qualitative-research- Webdesign.html#ixzz0I9SkxvWE&D8) http://www.managementparadise.com Web9 )http://www.bizdewz.com/toothpaste-market-selling-a-new-brand/ Web10) www.instantdvd.com Web Thank You Online Assignment – Your Homework Help Partner We’ll Be glad to help You
  21. 21. Mail: homework@onlineassignment.net Website: www.onlineassignment.net Live Chat : 24*7 available

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