The document discusses marketing principles and their influence on business activities. It explains that marketing principles focus on key functions like market research and segmentation to help businesses compete effectively. Several elements of the marketing process are described, including understanding customer needs, analyzing competitors, and designing marketing strategies. The benefits and costs of marketing orientation for businesses are evaluated. Environmental factors like economic conditions, technology, and customer demographics that influence marketing decisions are also outlined. Different approaches to marketing products and services to businesses and internationally are discussed.
The marketing environment and the marketing information systemNGANG PEREZ
In this second chapter of our lecture we will begin with the environment and latter move to analyze the constituents in this environment regarding the market. You know, whether a business be carried online, or on air, or on land, or on waters, one thing is certain that it was conducted within an environment. Therefore understanding this environment becomes imperative for the success of the business always. Please take marketing students, the environment is one; but the conditions and the parameters are not always the same. Many people believe that organizations can survive if they are sure about the management of their internal systems like business processes, flow of goods and internal practices of quality and cost control. Most organizations devote a large part of their effort in managing the internal controllable elements, whereas they need to respond and adapt to the external environmental changes. Though they cannot significantly influence the external environment but they can be responsive to larger social and other environmental changes, which is likely to affect their business in both short run and long run. It is imperative for an organization to understand the market as well their consumers really well. I will not speak much before we get in to the details of the matter.
Forecasting the future for profit - SCIP presentationmilnerltd
At EE’s London office in May 2016, Milner’s Head of Market Analysis, Jonathan Davenport, gave a presentation at a Strategic and Competitive Intelligence Professionals (SCIP) event on how to support market and revenue growth with a market forecast. The event was attended by Fin Tech (including Sage), Telecoms (including BT), Energy (including Schneider Electric) and Bio-tech (including Smith Medical) companies and his presentation received excellent feedback.
Marketing is an inevitable part of doing both business and non-business. This is emphasized in this presentation. A different focus of this kind is expected to add more value for the enthusiast.
The marketing environment and the marketing information systemNGANG PEREZ
In this second chapter of our lecture we will begin with the environment and latter move to analyze the constituents in this environment regarding the market. You know, whether a business be carried online, or on air, or on land, or on waters, one thing is certain that it was conducted within an environment. Therefore understanding this environment becomes imperative for the success of the business always. Please take marketing students, the environment is one; but the conditions and the parameters are not always the same. Many people believe that organizations can survive if they are sure about the management of their internal systems like business processes, flow of goods and internal practices of quality and cost control. Most organizations devote a large part of their effort in managing the internal controllable elements, whereas they need to respond and adapt to the external environmental changes. Though they cannot significantly influence the external environment but they can be responsive to larger social and other environmental changes, which is likely to affect their business in both short run and long run. It is imperative for an organization to understand the market as well their consumers really well. I will not speak much before we get in to the details of the matter.
Forecasting the future for profit - SCIP presentationmilnerltd
At EE’s London office in May 2016, Milner’s Head of Market Analysis, Jonathan Davenport, gave a presentation at a Strategic and Competitive Intelligence Professionals (SCIP) event on how to support market and revenue growth with a market forecast. The event was attended by Fin Tech (including Sage), Telecoms (including BT), Energy (including Schneider Electric) and Bio-tech (including Smith Medical) companies and his presentation received excellent feedback.
Marketing is an inevitable part of doing both business and non-business. This is emphasized in this presentation. A different focus of this kind is expected to add more value for the enthusiast.
From Hobby to Business: 3 Strategies for SuccessRebekah Pierce
Your hobby is bringing in more income than your JOB. But are you sure it's time to quit your day job? Here are 3 key strategies to insure that your hobby is indeed a profitable business venture and that you are, in fact, ready emotionally and physically to go from part-time work to full-time money.
In "Get This Story Out of My Head: Five Tips for Putting Your Story on Paper," I present 5 tips/strategies for getting a story out of your head and onto the page. Writing is a process, but first, you must get your mind ready for the journey.
How to Tell Your Story...After the Elevator SpeechRebekah Pierce
You've done it! Delivered the 30 second elevator speech you worked tirelessly on for weeks. Now what? "How to Tell Your Story...After the Elevator Speech" features tangible and constructive techniques for networking strategically in order to make the most of those one-on-one opportunities that come after the elevator speech. Whether you are trying to land the job of your dreams or secure a big client, this presentation will prepare you for navigating through social networking events fearlessly. Let's get started!
Your girl's First Communion is an extremely extraordinary occasion. Seeing her so dazzling in her white communion dress itself is so thrilling. Flowergirldressforless reveals "First communion dresses 2013" collection on their online web store. Take a look on their cutting edge designs.
Report on Strategic Marketing Chapter Review [Elegant (VI)]Md. Abdur Rakib
The report is made on the chapter reviews from the strategic marketing book 9th Edition by David W. Cravens & Nigel F. Piercy. 12 chapters are taken for making reviews for the report.
It is prep[ared by Elegant (VI) group, Section: A, Marketing 14th batch, Faculty of Business Studies, University of Dhaka.
Marketing principles have been changing through decades, being influenced by different
environmental factors and advanced technologies. Even how we define marketing is changing, and what we
expect from successful marketing campaign is also changing. The latest definition of marketing is; it is an
exchange process, where needs and wants are satisfied, competing for the purchasing power of consumers
(Brunswick, April 2014)
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
In this case, Net profit margin is positive. Company made more money then its 4 marketing (1)
1. Marketing Principles
Principles of Marketing
Executive Summery
Marketing principles influences largely on the activities of a business firm. The marketing
principles focus on the key principles, functions and practices. These help the business firm or a
company to compete effectively in the market in the ever changing trend to ensure profitability
and growth. Through market research and analysis, the market is being categorized according to
the business need. The marketing environment influences the business activities. Market
segmentation divides the market to reach the customers properly. How the internal and external
factors influence on the business strategies, how to set a positioning map, how to analyse
competitors etc. have been discussed in this assignment.
Contents
Principles of Marketing 1
Executive Summery 2
Introduction 4
P1 Explaining the various elements of the marketing process using the key elements from the
case 5
P2 Evaluating the benefits and costs of a marketing orientation. 7
P3 Macro and micro environmental factors which influence marketing decisions 8
P4 Proposing segmentation criteria to be used for products in different markets 9
P5 A targeting strategy for a selected product/service. 10
P6 Demonstrating how buyer behaviour affects marketing activities in different buying
situations. You may draw your answers from the factors identified in case above. 12
P7 Proposing new positioning for a selected product/service. 13
P8 Explaining how products are developed to sustain competitive advantage 15
P9 Explaining how distribution is arranged to provide customer convenience 16
P10 Explaining how prices are set to reflects an organization’s objectives and market conditions.
17
2. P11 Illustrating how promotional activity is integrated to achieve marketing objectives using the
Motorola case or any other organization 18
P12 Analysing the additional elements of the extended marketing mix. 19
P13 Plan marketing mixes for two different segments in consumer market 20
P14 Illustrating differences in marketing products and services to businesses rather than
consumers. 20
P15 Show how and why international marketing differs from domestic marketing. 22
Conclusion 23
References & Bibliography: 23
Introduction
All the marketing plans and the strategies are decided to reach the customers and the make the
expected profit. Marketing principles are the key points what effectively help in deciding the
marketing plans and strategies. The market is influenced by many macro & micro factors which
have a great impact on the changes of customer choices and needs. Concentrated marketing on
customers classifies the market to reach the only customers who are the actual consumer of the
products and services. It is very important to set an effective marketing plan to plan for providing
the products to the end consumers according to the place, price and the promotional activities are
also to be done for continuing the business by satisfying thee customers’ needs and demands.
P1 Explaining the various elements of the marketing process using the key elements from
the case
The marketing mix is a tool which is used in businesses to help for the determination of a
product or brands offering. E. Jerome McCarthy’s the 4 P’s have been associated with the
marketing mix since 1960. The 4 P’s marketing strategy is given below:
a) Product: The product should satisfy the demand & need of the customer.
b) Place: The product should be available mostly convenient for the consumer.
c) Price: Price should be set in a moderate rate through an adjustment between the customer and
the seller.
d) Promotion: The business firm should promote the business through advertising, developing
public relation, sales promotion.
The extended of 7 P’s:
3. e) People: People are so much important part of business. Having the right people is essential for
the product or offered service.
f) Processes: The delivery of the service which is done with the customer present also the part of
what the consumer pays for.
g) Physical evidence: All the services including some physical elements even though their
customers are paying for are intangible.
The 7 P’s are widely taught from 1980 due to the fundamental logic in the marketing
environment and also the marketer abilities.
Three alternatives are available for adopting a marketing orientation. These are:
a) Sales orientation: The main problem of some businesses is to face difficulties in selling
product which are already available to them. A sale oriented business pays little attention to
customer needs and wants even not trying hard to create suitable product or services.
b) Production orientation: Making as many units as possible is the main concern for the
production oriented business. The needs of the consumers are compared secondly to increase
output.
c) Product orientation: Actually it is quite obscure to define it from production oriented business.
Considering a business which is obsessed with its own product might be even more arrogant.
Whatever, failing to consider technological changes might be the cause of losing ground to
competitors.
Marketing can be defined as a strategic philosophy by assessing and meeting the needs of the
customers with so many complex and multifaceted activities (Author, P. 2014). The various
elements of marketing process are described below:
A) Understanding the customer needs: At first there needs to understand the customer's choice,
needs, demands. By getting idea from the preference of the customer, the marketing strategy
should be pointed according it (Indeed, W. 2015).In Micky- Mouse Plc. case, the holistic
approach of this organisation was to determining the demands what the customer want today.
B) Segmenting the market: In the next the market is to be segmented according to the class size,
market position.In Micky- Mouse Plc. case, we also see the segmented market to reach the
customer properly.
C) Analysing the competitors: Competitor analysis provides the firm to find out the weakness of
the competitors to set the marketing strategies according to the way (Papers, W. 2013).
D) Researching the market distribution: The products and services is to be reached to the end
consumers through research.Micky- Mouse plc. also focused a lot on market research.
4. E) Designing a customer driven marketing mix strategy: The marketing strategy should be
designed for the customers (Hearsh, N. 2009).
F) Analysing the financial condition: The business firm must analyse the financial condition
before starting the implementation of any marketing decision.The cost effectiveness and the
economic condition were also evaluated by Micky mouse Plc.
G) Capturing values from customers thorough reviewing and revising: The business firm or the
company should review and revise the marketing strategy for taking the further marketing
decision more effectively (South, W. 2010).
P2 Evaluating the benefits and costs of a marketing orientation.
A marketing orientation helps a company to have a strategic focus on understanding and
advances of the marketing concept (Hearsh, N. 2009).
Customer centric alignment: All the marketing strategies are aligned as according to customer
centric. It helps in decision making level properly what we noticed in Mickey Mouse Plc. case.
Competitive advantages: Through marketing orientation, the strengths and weakness of the
competitors can be identified what we noticed in Mickey Mouse case too (South, W. 2010).
Less productive differentiation: The product differentiation decreases by orienting the market.
Costs: Significant costs come to happen in a strong market orientation. In order to respond
properly and accurately companies need strong market intelligence (Papers, W. 2013). Thus the
investment in researching the market rises to high. Technological infrastructure is also important
for using the databases to gather, analyse and proper usage of customer data. To modify
constantly, it requires investment in ongoing training. The industries whose are experiencing
lower growth and higher competition may provide abysmal return on the investments of market
orientation (SayLor, F. 2015).We find the similarities in Mickey Mouse Plc. case.
P3 Macro and micro environmental factors which influence marketing decisions
Marketing environments can be classified micro and macro categories having a great influence
over the decisions made for a strategic marketing strategic (Indeed, W. 2015).Mickey-Mouse
would also focus on the demographic characteristics of their various customers aimed at
understanding better the buying patterns and behaviours influenced by economic and socio-
cultural factors across time as well as using new loyalty card scheme as current technology
dictates.
Micro environmental factors
A) The suppliers: The suppliers' condition of the same product or service impacts a lot over the
business activities (Forbes, M. 2013).
5. B) The resellers: The trend of the resellers for purchasing and selling of the goods has also an
influence on the marketing decision.
C) The customers: The responses from the customers also change the marketing decisions.
D) The competitors: The competitors in the market, their strengths & weaknesses etc. also
impact the planning and business environment.
E) The general Public: The psychological belief of the general public over the business firm and
on the product or the service influences the business (Hearsh, N. 2009).
Macro environmental factors
A) Demographic trend: Race, religion, location, age etc. have a great impact on the whole
market.
B) Economic factors: Financial conditions, inflation rate, employment rate etc. also influence the
market to a great extent (SayLor, F. 2015).
C) Natural forces: The climate, geological position, soil, rainfall, seasonal variations etc. actively
influence the market.
D) Technological factors: The new and newer forms of technologies are inventing and coming in
the market with the passage of time. This technological changes impact the business.
E) Political and legal forces: Political condition impacts on the business activities. Legal forces,
moderate political situation etc. impact the business (Quirks, A. 2012).
F) Cultural impact: Culture is varied from country to country, society to Society. The cultural
differences make a difference in a customer's demand, choice and product selection.
P4 Proposing segmentation criteria to be used for products in different markets
Market segmentation is the division into closely distinct groups of consumers. It might be
targeted for different products and thus it requires different marketing efforts (Author, P. 2014).
Selection of criteria is the first step in carrying out the segmentation. Company divides the
market into different groups through segmentation (Papers, W. 2013).The focus would involve
appraisal of various segments where Mickey Mouse Plc. currently operates. They are currently
using more product differentiation in their existing product markets.
According to gender, age, family life cycle, occupation, education, ethnicity, income, market can
be segmented into demographic, geography, psychographic and behavioural division.
Geographical segmentation: The spilt of market among different factors like area, density, city
size, region etc. are under this type of segmentation. Due to the geographical segmented position,
UK has more Diesel stores than those of Japan (Forbes, M. 2013).
6. Substantial:
Psychographic segmentation: It is based on attitudes, interests, values and personality traits or
lifestyle.
Accessible:
Demographic segmentation: This segmentation is based on such variables like gender, family
size, age, income, religion. Reaction of the customers to an oriented product is influenced by the
demographic variables. Diesel specially produce products their products for the early aged
people and old aged people (Hearsh, N. 2009).
Distinguishable:
Feasible:
Behavioural segmentation: divides the market based on the behavioural response from the
population, how much people use or know about a product. In marketing management, consumer
behaviour is a deeply studied context (South, W. 2010).
P5 A targeting strategy for a selectedproduct/service.
There needs to follow the market targeting strategies after the segmentation of the market into
different classes and groups (SayLor, F. 2015). The targeting strategies can be classified into
three categories. For Mickey- Mouse as a multi-product/service organisation, the success will
depend on the ability to meet the needs of the customers. They can do it through offering the
right product/service at the right price as well as the place using appropriate promotional
strategy. The targeting strategies can be classified into three categories. These are explained
below:
A) Undifferentiated marketing or mass marketing: The market is thought as one group without
any individual segment. For the business or product facing lower competition, this strategy is
mostly suitable as this strategy means for the production of one product for the whole market.
There is no need to market research in this Type of strategy (Hearsh, N. 2009). For the largest
segment of the market, firms usually use undifferentiated marketing for the creation of a product
design.
B) Differentiated marketing or targeted marketing: This strategy is opposite to the differentiated
marketing. The company decides for each individual proposal and acts on different market
segments in this case. At present, differentiated marketing practice is used by increasing number
of firms (Quirks, A. 2012).
C) Concentrated target marketing: A particular market niche selection is focused by this
approach. While focusing on a single segment, the company can easily concentrate on
understanding the wants and needs of particular market intimately (Indeed, W. 2015).
7. Concentrated marketing basically followed by the small business firms as focusing on single
segment which fuels them to compete against the larger firms effectively.
For Mcdonald, the targeting marketing strategies can be varied like that:
a) Kids: The kids and the product they are offering to them are focused by the strategy. This
strategy is the first targeting strategy of involving young kids between the age of three to seven.
In order to gain more market, they offer THE HAPPY MEAL which comes with chips, a burger
and a soda. But the strategy is to provide a toy with the food items. McDonalds also install
playground in some of their restaurants so kids after eating can go there.
b) Teens and students: Those who want to have some tasty food with friends on a relaxing time
after school, college or university and just have a chill chat, McDonald offers it’s the McCofe
and McDonald breakfast to the students who are in a rush. Students just need to show their ID to
get a discount from McDonald.
P6 Demonstrating how buyer behaviour affects marketing activities in different buying
situations. You may draw your answers from the factors identified in case above.
If the products can be created for the customer wants, the products will influence the buyer. But
there are some factors what actively effect the buying situations what we also noticed in
Motorola case.
According to Jim Riley (2012) "Research suggests that customers go through active stage
decision making process in any purchase (South, W. 2010).
These are explained below:
A) At the first stage, a customer identifies a problem or need. It can also be responds to a
marketing stimulus like while passing a bakery or getting attracted by the aroma of breads and
cakes (Author, P. 2014).
B) Searching information is the next stage which affects marketing activities. At this stage, a
customer starts to find out more information about the service or product. The customers start
gathering information and reviews. There are many wages to gather information.
Public sources: Friends, neighbours etc.
Commercial sources: Retailers, dealers, POS displays, packaging, sales people etc.
Personal sources: different public media like TV, newspaper, radio and specialist magazines.
Experimental sources: examining, using the product (Papers, W. 2013).
C) In the third stage a customer evaluates the alternatives. In this way, customers make a
comparison between alternative brands, goods or services.
8. D) I purchase decision step, a customer stop choosing and also stop the comparison of goods
(services), manufacturers. Finally the customer purchases the product (Sales, L. 2011).
E) At the last step which is post purchasing evaluation, the customer asses their choices. These
assessment can be implicitly & explicitly both.
The action of buyers for the demand of goods and services, consumer preferences, consumption
etc. is characterized and influenced by the buyer and consumer behaviour (SayLor, F. 2015). In
Motorola case, the attractive design, exceptional qualities etc. are also influential enough.
Customer behaviour can be divided into these three groups:
A) Habitual: These customers usually buy the same products from the same store in the same
way.
B) Variety seeking: This type of consumers often switches brands according their own
evaluation.
C) Dissonance reducing: This type of customers is aware enough about their needs. They have
knowledge enough about services and products. They are in search of finding out the same
product at a lowest range of price (Forbes, M. 2013). They always find out products cheap in
price but highly in quality. Brand is ignored by these customers.
P7 Proposing new positioning for a selectedproduct/service.
Positioning denotes the owning of a piece of customer's mind. Actually it is not that the product
does. It is what a customer does to the mind of respect (Author, P. 2014). Thus positioning is the
set of measures by which the targeted customer's mind in their product has a definite place in
relation to other same type products.From Motorola Case, many people like to buy phones from
independent retailers such as Car phone Warehouse. These can offer a variety of different
phones. They also can suggest the one that is best suited to the customer needs through
determining the positioning.
The company RS Rocket Skates Inc. follows easy current positioning strategy. So look on the
aspect as a marketing person, company needs to change its strategy to confirm position in the
market in Vietnam.
There are two major product lines. RS company can assert own position in the market through
price, product and quality of the product. RS company segmented the product in both the mid
range segment and luxury segment. The quality and the price of luxury products are high in
price. The mid range segmented product costs lower than the luxury products. The RS Company
can fully assert own position on the Vietnam market from the provision of adequate information
combined with the suitable marketing. For the company’s products, this approach can make a
difference. For the RS Company, that is the best positioning strategy.
A positioning strategy can be classified into three steps. First one is to reveal the possible
competitive advantages in order to create a positioning. Second one is to select the proper
9. competitive advantages and the last one is to select a comprehensive positioning strategy. For the
selected position, effective communication and distribution should be provided by the company
(Hearsh, N. 2009). But the positioning should not be arbitrary. The new positioning should be
decided before starting production. The product is to be designed with a planned position in
mind. The LG brand positioned at the higher end of segmentation. It competes with so many
brands in the market.
P8 Explaining how products are developed to sustain competitive advantage
Due to the rapid progressive change in technology, trends and new state of competition, any firm
or company can't rely on only the currently existing products.From the Motorola case, the
company meets the completion through developing the products quality and also developing the
promotional activities. Promotion includes all of the techniques that a company uses to
communicate with other individuals and organisations. Communications are done through
Motorola and consumers receive them. An important avenue for communication is advertising.
Consumers are in search of new and improved products. The competitors in the market always
try their utmost to provide goods with newer form of innovations (Papers, W. 2013). To ensure
the proper implementation of plan, every company must have a program to develop the new
products.
Marketing strategy and development: At product development trend to happen in different
stages. These stages depend on the company. The most important stages are described below:
A) Idea generation: After the search for new products, the development of a new product is
begun (SayLor, F. 2015). A clear strategy should be created for the development of new
products. SWOT research can provide a lot for generating an idea in a positive way.
B) Development of concept and testing: The generated idea needs to be taken to the target
audience. At this step, price, distribution, promotion, place are being determined according to the
strategies. The company must select strategy which attracts the customers more than the
competitors (Sales, L. 2011).
C) Test marketing: At this stage, the product is primarily launched in small area for testing the
market.
D) Product commercialization: The product is finally selected for commercial purpose in the
market to among the customers (Indeed, W. 2015). How, when and where the products will be
distributed is defined at this stage.
P9 Explaining how distribution is arranged to provide customer convenience
There are several ways in which businesses organise distribution to provide customer
convenience. Based on what sort of business is being operated, the methods used may slightly
vary. For example, for e-commerce business, there are different techniques than the real world
10. business. Different techniques of different real world businesses are dependent on the size of the
business and where they may be dealing with customers.
For e-commerce business, Amazon.com is a great example. To make things more convenient for
customers, how distribution can be arranged easily understood from the website. Amazon mostly
offer free shipping charges for items that are advertised through them. They can do it as they
have so many distributions centre located all over places.
Next, there are stores from where one can easily walk to them and place order from their display
inventory. The item is then sent to the customer from a local distribution centre that is found in
another part of the city. This method allows cutting down the transportation costs as the items
doesn’t need to be shipped in large quantities towards the customers. The company saves from
the transportation cost, warehousing, labour and other costs translate to savings in final prices for
customers. They also usually mean that fulfilment processes are more reliable as well as the
network for handling the distribution is not complex and prone to problems of challenges.
The products and services of a company must be promoted to all members of the channel. Now-
a-days, online distribution is so much popular. It doesn't need to spend money on heating,
resting, lighting and others (Quirks, A. 2012).
P10 Explaining how prices are set to reflects an organization’s objectives and market
conditions.
The amount of money which is paid by the buyers for goods or services is defined as price
(Author, P. 2014). The core element of the marketing mix is pricing. It creates sales revenue
while all the others are costs. For companies like Motorola, price is a key element in the
marketing mix for the Motorola Company. Price is the monetary expression of value of goods,
services and products (Forbes, M. 2013). Price is an important marketing tool. The reasons are
given below:
A) The sales are affected greatly by the price.
B) Price changing without having any other marketing components has the fastest effect.
C) A potential customer reacts fast to the changes in price rather than changes to the products or
services. Pricing of good or service can be put differently.
The pricing strategy varies due to the objectives of the company, fixed and variable costs,
competition in a similitude section (SayLor, F. 2015).'Getting the price right' is a vital part for
Motorola company of building relationships with customers.
A marketer needs to follow these steps in setting price:
a) Examining company and marketing objectives: At the very beginning, a marketer needs to
examine the market and also defining well the marketing objectives.
11. b) Determining an initial price: From examining the company and the marketing objectives, it
requires to determine an estimated price.
c) Setting standard price adjustments: After doing that, the marketer should set a standard price
for the product or provided service.
d) Determining promotional pricing: For the promotion of the business, the marketer needs to
market research and also do something for the adjustments.
e) Stating payment options: Finally the marketer has to set the payment method from the
customers for providing the service or any product. The payment option should be convenient for
the customer.
These factors need to be considered while setting the price for the products or services:
a) Costs: Businesses are bound to set price more than what they spend for it. The cost of the
product for the end consumers should be according to their income. Any price setting lack of
market research is enough to discrease the market.
b) Competing products: The competing products of the same product and service should be kept
in research. Any development of competing product can have bad influence over company
product.
c) Consumer demand: The market demand of the product should be considered properly by the
marketer.
d) Product positioning: The product which is going to be satisfied the customer needs should be
positioned according to the macro and micro factors.
P11 Illustrating how promotional activity is integrated to achieve marketing objectives
using the Motorola case or any other organization
In attracting customer interest and persuading customers to buy company product over
competitors, promotional activities are crucial. For the Motorola Company, advertising is an
important avenue and they refer it as 'above the line' promotion. Others and discounts are
referred to as being 'below the line'.
These are explained below:
A) Consistency: For building up a brand, persuading the customers, there needs to present
consistent messages. The messages must consistently depict the core benefits like product quality
or service (Papers, W. 2013). The Motorola Company should maintain the consistency in the
business activities.
B) Sales promotion: In promotional integration, the Motorola Company can offer a coupon with
the products to raise the interest of the customers towards the products.
12. C) Advertising: It needs to consider reaching the target market in developing a promotional plan.
The Motorola Company should increase its advertising activities for attracting the customers.
This will increase the demand of Motorola products.
D) Repetition: Each targeted customer along with reach should come again to get the product or
service again (Indeed, W. 2015). The Motorola Company should maintain consistency and
repetition in nice business performance.
E) Public Relations: The Motorola Company can promote the business through developing teh
platform with public relationship. For example, the Motorola can advertise the upcoming selling
through sharing a profit in a charity fund.
P12 Analysing the additional elements of the extended marketing mix.
Marketing mix is a system, a set of tactical marketing tool through which the company
implement the marketing strategy (Quirks, A. 2012). The four main components which make the
marketing mix are price, place, promotion, and product. There are additional three 'P' described
below:
• People: In the provisions of services, all the people are involved directly or indirectly.
• Process: Mechanism of actions, procedures, working operations that make up the essence of
services is a significant element of the marketing strategy.
• Physical evidence: Environment can be an example in which services are provided. Material
things help promote and provide services.
4P is being replaced gradually by 7P by extended marketing as it corresponds better features of
services (Hearsh, N. 2009).
P13 Plan marketing mixes for two different segments in consumer market
Marketing is the group to everyone is exposed to the marketing daily even when they do not
know it and billboards enclosed the nation (Forbes, M. 2013). The marketing is a concept that it
is developing the new marketing. They are also known as four “P’s”. The important for an
association to have a good understanding and every element is main developing a marketing
plan. In the marketing mix there are four elements that build up the marketing process.
Marketing mixes are vital in marketing a product. Sony sound system is popular among the
customers though satisfying the customers need and demand.
Process: it is the meaning of achieving the outcome. How the products or services will go in
order to reach a specific person or particular destination. Process can be for how a person buys
an ipod. A customer needs to go a particular website, then enter the specifications and finally
purchase it by providing delivery details.
13. Physical evidence: The physical evidence of a product is the total product itself. There should be
physical evidence to identify a product for packaging, structure of the organization. It helps to
determine the products better from the other similitude products in the market. So it is so
important to differentiate the product from the competitors. For example, there are so many types
of ipod are available in the market like Sony, Sharp, Panasonic etc.. So it’s important to
differentiate the products from the competitors.
P14 Illustrating differences in marketing products and services to businesses rather than
consumers.
Two consumer market which are UK market and India market for the mobile phone as a product
are discussed below:
Product: The product which is going to be served the customers is crucial. For mobile, the
business strategies will be varied from the UK market to India market. For Uk people, they
expects many features in mobile phone while the people of India don’t know so much about it.
Price: Price is very crucial factor for attracting the customers. But all the customers are not the
same. The users of mobile phone of UK are value based customers while the users from India are
cost based customers. So price plays an important role in capturing the attraction of the
customers.
Place: After determining the price, the products need to deliver to the customers. Uk is more
developed than the India. An UK customer will seek an easier way for getting the product which
can be like home delivery of the product. COD (Cash on delivery) system will be surely more
popular for the customers from India due the market place determination and customer choice.
Promotion: For the promotion of the business, the marketing strategy can be quite different in
India than that of UK. The UK people are more used to internet than those of India. So, for
advertising of the product, the marketing strategy should be focused on online based for the UK
customers. For the customers from India, it needs to focus on television media for the
advertisement in the local market.
There are some major differences exist between the basic principles of marketing products for
business and consumer (Hearsh, N. 2009). These are also noticed in Kensington case. These are
explained below:
Purchase: In contrast to the ordinary consumer, businessmen do not buy goods sell at retail
purchases. They buy large is number like dozens, hundreds or thousands of units. But the seller
must continue the buyer that product is really necessary for his business in order to purchase took
place.
Risks: There are two types of buyer; one is businessman and another is customer. The
businessmen take higher risks than the customers. All the uncertain risks are carried by the
businessmen (Papers, W. 2013).
14. More technically complex products:
There are not like bricks, screws or nails which can be sold hundreds of tons without special
promotion. More technically complex products denote the all complex products that require
business like construction machinery, sophisticated communications equipment, machinery
tools, with numeral control (SayLor, F. 2015).
Payment: Business to business (B2B) transactions requires an increasing complex business
system. In general customer selection, products are sold. Then place an order and arrange the
delivery through an agreed logistics channel. At the time of order customers don't pay, but
receive an invoice which they settle within agreed Payment term. In B2B, price may vary by
customer. Payment mechanism also differs (Forbes, M. 2013).
P15 Show how and why international marketing differs from domestic marketing.
Although having the same goals, domestic marketing and international marketing differs.
Increasing the sale, profit and revenue are the same for both goals. Due to global financial crises
and sets of logistics constraints sales are slowing down of Kensington case. The company is
facing in its new China operations as it is difficult due to language and other social-cultural
factors which the group’s new operation is currently confronting. Also, complex exporting
regulations make it difficult for consigned auto parts to go through custom checks in
China.Domestic marketing are the marketing strategies to attract and influence customers within
the political boundaries of a country (Hearsh, N. 2009).
The gleaming dissimilarity between the two:
Scope: The international marketing has endless opportunities and scopes which are limited and
will eventually dry up in domestic marketing.
Benefits: International marketing benefits are higher than the domestic market.
Sharing of technology:
Domestic marketing is limited in the use of modern technology whereas international marketing
provides the greater use and sharing of latest technologies (Author, P. 2014).
Political relations: In domestic marketing, there is almost nothing to do on political turmoil
whereas international marketing leads to improvement between countries in good political
relation and also increased level of cooperation as a result.
Barriers: Although domestic marketing do not face so much barriers, international marketing
face many barriers like cross cultural differences, language, traditions, ethnicity and customs
(Papers, W. 2013).
15. Conclusion
The future is always uncertain. All the marketing plans and strategies should be taken with
having an adjustment with the uncertain future. Marketing authorities are done for selling to
satisfy the needs of people. The marketing activities refer to channelling the gap between service
and product providers to service and product serves which is also known as a way of satisfying
need. A new product may fail for many reasons. But by segmenting the market to the targeted
customers, set a positioning map, reviewing the activities etc. ensures a better future.
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