...COURSE DESCRIPTION Introduces basic marketing principles and concepts. Emphasis is placed on the development of marketing strategy and the major components of the marketing mix (product, price, promotion, and distribution). Reviews the critical environmental factors of markets, domestic and international, and customer behavior characteristics that affect marketing operations. Highlights the integration of marketing with other functions in a business organization. INSTRUCTIONAL MATERIALS Required Resources Pride, W. M., & Ferrel, O. C. (2013). Foundations of marketing (5th ed.). Mason, OH: South-Western Cengage Learning. Supplemental Resources A comprehensive list of supplemental resources is located at the end of the course guide. COURSE LEARNING OUTCOMES 1. Identify the key concepts of marketing and its function in society. 2. Explain the fundamentals of marketing, including product, price, distribution, and promotion in a global environment. 3. Determine the marketing planning process, market segmentation, and the development of the key elements of a marketing strategy. 4. Identify ethical issues involved in marketing. 5. Understand customer relationship management. 6. Determine the elements of marketing research. 7. Determine the factors affecting the behavior of consumers and commercial / organizational buyers. 8. Understand the key elements of business marketing, including product, price, distribution, and promotion. 9...
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...The marketing mix 7 Ps of the marketing mix… …a framework for complete marketing © 2005 Clarity Marketing Ltd www.clarity-in-communication.com 1 Why is a framework for marketing important? When you are developing your marketing plan, there are many factors that need to be considered. So many, that it could be easy to miss an important element. And since all these elements are interlinked, overlooking one factor could mean that the decisions you make about the others are not fully informed. So why 7 Ps? Traditionally, the marketing mix was developed for the fast moving consumer goods sector, and there were 4 Ps: Product, Price, Promotion, and Place (or distribution). As service sectors have become more aware of marketing, this marketing mix has been developed to also include: People, Process and Physical Evidence. Even if you think you only sell a product, so the original 4 Ps will suffice, it can be useful to think how much of a service element there is to your business. Indeed, the goods-service continuum demonstrates that very few products are purely goods and very few purely service. Goods Service Tangible Intangible Most of us sell either products with a surrounding service element (for example, a customer care help-line for a software retailer) or services with a tangible element (the skill of a hair stylist is a service but tangible products are required to deliver it). So it could be wise, even for product manufacturers, to consider all 7 Ps in...
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...A corporate plan is a set of instructions to managers of an organization describing what role each department is expected to fulfill in the achievement of organization's objectives A market plan begins with the identification (through market research) of specific customer needs and how the firm intends to fulfill them while generating an acceptable level of return. It generally includes analysis of the current market situation (opportunities and trends) and detailed action programs, budgets, sales forecasts, strategies, and projected (proforma) financial statements. See also marketing strategy. The marketing planning process A marketing plan is a comprehensive blueprint which outlines an organization's overall marketing efforts. A marketing process can be realized by the marketing mix, which is outlined in step 4. The last step in the process is the marketing controlling. The marketing plan can function from two points: strategy and tactics (P. Kotler, K.L. Keller). In most organizations, "strategic planning" is an annual process, typically covering just the year ahead. Occasionally, a few organizations may look at a practical plan which stretches three or more years ahead. Marketing planning aims and objectives Behind the corporate objectives, which in themselves offer the main context for the marketing plan, will lie the "corporate mission," which in turn provides the context for these corporate objectives. In a sales-oriented organization, the marketing planning function...
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...| Elements of marketing Plan | | | | | Done By: Abdulla Ali Abdulla Al Sayari ID: 20131A64 Done By: Abdulla Ali Abdulla Al Sayari ID: 20131A64 Contents Introduction 2 Marketing Plan 3 The use of Marketing Plan 4 Marketing Plan Structure 5 Elements of Marketing Plan 6 Links exist between elements of a marketing plan 7 CONCLUSION 9 Introduction Marketing Plan is a document that is written about the marketing strategies and the position of the current market of business ahead with effort of marketing and the need of advertise for the next year. In this paper discussing about the Marketing plan and its elements with detail. And the use of marketing plans has been showed diplomatically. In this paper explained the common form of marketing plan The paper contains different elements of marketing plan while showing the function of each parts take place by common sources of getting the information and techniques for preparing the section. After this come assumptions of marketing plan. There are lot of misconceptions in the process of marketing plan. At last is the discussion on common misconceptions which are generally made in the process of making a marketing plan and conclusion of all these study. Marketing Plan Marketing Plan is a document that is written about the marketing strategies and the position of the current market of business ahead with effort of marketing and the need of advertise for the next year. It contains details...
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...Company G 3-Year Marketing Plan Assessment Code: VZT1 Table of Contents Introduction 3 Mission Statement 3 The Product 3 Consumer Product Classification 3 Target Market 3 Competitive Situation Analysis 3 Analysis of Competition using Porter’s 5 Forces Model 3 SWOT Analysis 4 Strengths 5 Weaknesses 5 Opportunities 5 Threats 5 Market Objectives 6 Product Objective 6 Price Objective 6 Place Objective 6 Promotion Objective 6 Marketing Strategies 6 Product Strategies 7 Price Strategies 7 Place Strategies 7 Promotion Strategies 7 Tactics and Action Plan 7 Product Action Plan 7 Price Action Plan 8 Place Action Plan 8 Promotion Action Plan 8 Monitoring Procedures 8 Introduction Company G is introducing a new product in the XG line of products. It encompasses many of the features used in the ceramic heating elements of other XG small appliances. It is the XG Flat Iron. It is a new innovation in beauty. Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.” The Product The XG Flat Iron is the elite of all small appliances for hair. It is made from the highest quality ceramic and heating elements available on the market. The XG Flat Iron is fully heated and ready to use in less than 10 seconds for superior convenience. It straightens all types of hair with an anti frizz technology that is unavailable with any...
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...Leppard (1993) The Marketing Audit The Marketing Audit Model Any marketing plan will only be as good as the information on which it is based, and the marketing audit is the means by which information for planning is organised. A marketing audit is a systematic, critical and unbiased review and appraisal of all the external and internal factors that have affected an organisation’s commercial performance over a defined period. By providing an understanding of how the organisation relates to the environment in which it operates, the marketing audit enables management to select a position within that environment based on known factors. Any organisation carrying out an audit will be faced with two kinds of variable: those over which if has no direct control and those over which it has complete control. The former include economic and market factors, while the latter usually concern the organisation’s resources, or operational variables. This suggests that the marketing audit should be structured in two parts: * External audit—the uncontrollable variables (business and economic environment, the market, the competition). * Internal audit—the controllable variables (organisation’s strengths and weaknesses, operations and resources in relation to the environment and competitors). Chapters 1—6 McDonald and Leppard’s The Marketing Audit Model is a comprehensive set of exercises that a company can go through to develop insight into all aspects of the marketing process as well...
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...Company G 1-Year Marketing Plan Student Name: Student ID: Date: Student Mentor Name: Table of Contents Introduction 3 Product Description and Classification 3 Product Support of Mission Statement……………………………………………………………………………………………….….3 Consumer Product Classification 3 Target Market 3 Competitive Situation Analysis 3 Analysis of Competition using Porter’s Five Forces Model 3 SWOT Analysis 4 Strengths and Core Competencies 5 Weaknesses 5 Opportunities 5 Threats 5 Market Objectives 6 Product Objective 6 Price Objective 6 Place Objective 6 Promotion Objective 6 Marketing Strategies and Implementation 7 Product Strategies 7 Price Strategies 7 Place Strategies 7 Promotion Strategies 7 Explanation of Strategies………………………..……………………………………………………………………………………………….7 Implementation Plan 7 Product Tactics 8 Price Tactics 8 Place Tactics 8 Promotion Tactics 8 Monitoring Procedures 8 Introduction While this section is not expressly requested in the task instructions, it is usually helpful to write a paragraph that introduces Company G and the product that you are writing this marketing plan about. Product Description and Classification Product Description and Support of the Mission Company G Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronics solutions.” The task instruction is to describe your product and explain how it supports the mission statement,...
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...Strategic Marketing and Marketing Plan Sales orientation | http://www.learnmarketing.net/orientations.htm | Market orientation | http://www.learnmarketing.net/orientations.htm | Marketing Myopia | http://encyclopedia.farlex.com/Marketing+myopiahttp://incite1.blogspot.com/2004/08/marketing-myopia.htmlhttp://www.dallascap.com/pdfs/MarketingMyopia.pdfFor lots of in-depth examples | Flat World E-Text Read Chapter 1 Print These Pages from the WGU E-Reserves Library * Four Eras in the History of Marketing (Contemporary Marketing, pg. 8-11) * Avoiding Marketing Myopia (Contemporary Marketing, pg. 13) * Table 1.2 Avoiding Marketing Myopia (Contemporary Marketing, pg. 13) * Elements of Relationship Marketing (Contemporary Marketing, pg. 312 Review these Websites: 1. Marketing: Historical Perspectives (http://www.enotes.com/business-finance-encyclopedia/marketing-historical-perspectives) 2. Marketing Myopia (http://coolrulespronto.wordpress.com/2008/12/17/marketing-myopia/) Answer These Questions Thoroughly 1. What are the four components of the marketing mix? 2. What kinds of decisions does Product strategy include? 3. What kinds of decisions does Price strategy include? 4. What kinds of decisions does Place strategy include? 5. What kinds of decisions does Promotion strategy include? 6. Describe each of the four eras (or orientations) in the history of marketing: 1) production era, 2) sales era, 3) marketing era, 4) relationship...
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...Identifying quantifiable elements to evaluate, monitor and control your marketing plan begins with establishing goals. Establishing quantifiable goals that must be met within a certain time frame gives you context within which to evaluate whether your marketing campaigns are bringing in enough leads or sales. Based on whether you are on track to meet your goals or not, you can adjust your plan accordingly. In most marketing plans, the quantifiable elements are the number of new leads or sales brought in. Step 1 Set quantifiable goals for your marketing plan. Common goals include increasing brand awareness, store or website traffic and the number of leads or sales. Step 2 Create new marketing campaigns or tweak existing ones to help you reach the goals you set in the marketing plan. Step 3 Review last year's sales records so you have something to which to compare this year's sales. An increase in leads or sales over last year's numbers will indicate that your current marketing campaigns are working. Step 4 Set metrics for tracking the direct impact of each campaign on its ability to help you reach your marketing goals. Common metrics include number of click-throughs on an online ad, number of new sales, number of new leads or percent increase in traffic to the store. It's okay if the metrics directly mirror your goals because campaigns are only run to help you reach your overall goals. Step 5 Analyze the results of each campaign based on your metrics. Determine whether...
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...creation of a marketing plan for a product of service. You will propose a “fictional” consumer product or service you wish to bring to market. This final project is designed to walk you through such a task. The components of this project will be submitted in six separate milestones spread throughout the modules of the course. These milestones are the initial product idea (Module One), Part One (Module Two), Part Two (Module Four), Part Three (Module Seven), Part Four (Module Eight) and the full marketing plan (Module Nine). Main Elements of Final Product Marketing Plan Elements (Ten Sections) I. Product or Service Description Describe for the reader what it is that you wish to bring to market. If it is a product, describe the product, its functionality, and how it works. If it is a service, describe the service offering so that the reader understands what they would receive. It is suggested that you create a product or service on your own. Please do not attempt to write a marketing plan for Google or Aflac, as that is beyond the purview of this course. Your description should be complete, including: • Where your company is located • The problem your product/service solves – as seen by the target market (not you) – and to which the target market would say, “Yes, that is a problem and no one has solved it”? • The competitive advantages that you offer • The challenges might you face in the marketing of this product...
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...Competency 318.1.5: Marketing Plans - The graduate can create a marketing plan. Objectives: 318.1.5-06: Apply Porter’s Five Forces model to an analysis of the competitive environment for a given business situation. 318.1.5-07: Define the target market as part of a marketing plan for a given situation. 318.1.5-08: Classify a specified consumer product using the three-way consumer products classification system. 318.1.5-09: Develop an appropriate set of marketing objectives that support a given mission statement. 318.1.5-10: Develop a SWOT analysis for a given business situation. 318.1.5-11: Select an appropriate distribution channel for a given marketing situation. 318.1.5-12: Select an appropriate pricing strategy for a given marketing situation. 318.1.5-13: Select an appropriate promotion strategy for a given marketing situation. 318.1.5-14: Develop a tactical marketing plan that supports specified elements of a strategic marketing plan. 318.1.5-15: Identify monitoring and control activities appropriate for a specified tactical marketing plan. Introduction: Company G is a well-established firm that is highly regarded in the electronics market. Its mission statement is as follows: “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.” Company G’s engineers and designers have developed a line of small appliances that the company feels can be very successful in the small-appliance...
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...FINAL PROJECT REPORT FORD FIGO: MARKETING PLAN SECTION B GROUP 10 Ranjitha G P FPM-08/10/M Arun Kumar Agarwal PGP/18/070 Kalpana Sharma PGP/18/080 Neha Prasad PGP/18/090 Punit Rathi PGP/18/100 Sourav Pattanayak PGP/18/110 Yaman Rai PGP/18/120 Executive Summary The market today is dominated by young and youthful people. Where a research agency says that 65% or over 700 million Indians are younger than 35 years. They are open to risk, novelty seeking and are willing to try anything that sets a trend, an attribute that has been accounted by their growing potential of purchasing power. As a result, marketers are forced to try innovative strategies where Markets have become too congested with competition. The launch of Ford Figo was an important event and a turning point in the history of ford which entered the small car segment which was a sweet spot during 2009-10. As the competition grew and major macro environmental factors brought a dramatic shift in the economy, it became tougher and tougher for figo to sustain in the market. This marketing plan analyses the current situation of Figo in terms of macro and micro environment, SWOT analysis and its current marketing strategies in order to internalize and project a effective and efficient plan for 2014-15. The major objective of Figo in this Marketing plan is to enhance the market share and sales by the next year 2015 as a short term strategy and bring a product innovation...
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...Company G’s XG Flat Iron 3-Year Marketing Plan Assessment Code: VZT1 Table of Contents Introduction 3 Mission Statement 3 The Product 3 Target Market 3 Competitive Situation Analysis 4 Analysis of Competition using Porter’s 5 Forces Model 4 SWOT Analysis 4 Strengths 5 Weaknesses 5 Opportunities 5 Threats 6 Market Objectives 6 Product Objective 6 Price Objective 6 Place Objective 6 Promotion Objective 6 Marketing Strategies 6 Product Strategies 7 Price Strategies 7 Place Strategies 7 Promotion Strategies 7 Tactics and Action Plan 8 Product Action Plan 8 Price Action Plan 8 Place Action Plan 8 Promotion Action Plan 8 Monitoring Procedures 9 Introduction Company G is introducing a new product in the XG line of products. It encompasses many of the features used in the ceramic heating elements of other XG small appliances. It is the XG Flat Iron. It weighs less and has an anti-frizz technology that is unlike anything on the market. It is a new innovation with all the technology, quality and convenience that you have come to expect from Company G. It is a new and exciting innovation in beauty. Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.” The Product The XG Flat Iron is the elite of all small appliances for hair. It is made from the highest quality ceramic and heating elements available on the market. The XG Flat Iron is fully...
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...Chapter 01 The Scope and Challenge of International Marketing True / False Questions 1. (p. 3) Global commerce thrives during peacetime. TRUE Difficulty: Easy Type: Knowledge 2. (p. 4) To date, the lesson for international commerce in the 21st century is "expect the unexpected." TRUE Difficulty: Easy Type: Knowledge 3. (p. 5) Today, every American business is international. TRUE Difficulty: Moderate Type: Comprehension 4. (p. 5) One event that will influence the shape of international business as the future unfolds is the rapid growth of the World Trade Organization, NAFTA, and the European Union. TRUE Difficulty: Moderate Type: Comprehension 5. (p. 5) One event that will influence the shape of international business as the future unfolds is the unprecedented acceptance of communism and socialism in Latin America. FALSE Difficulty: Moderate Type: Comprehension 6. (p. 5) A trend that will impact international business in the future is a mandate to properly manage the resources and global environment. TRUE Difficulty: Moderate Type: Comprehension 7. (p. 5) Today, most business activities are local or regional in scope. FALSE Difficulty: Moderate Type: Knowledge 8. (p. 6, Crossing Borders 1.1) What do French farmers, Chinese fishermen, and Russian hackers have in common--they can all receive subsidy payments from the U.S. government. FALSE Difficulty: Moderate Type: Knowledge 9. (p. 6) Foreign-made products remain a small...
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...priced their product at a very low price & they also come up with new plans. Place Another element of Marketing Mix is Place. Place is also known as channel, distribution, or intermediary. It is the mechanism through which goods and/or services are moved from the manufacturer/ service provider to the user or consumer. Reliance Mobiles do not find it very difficult to find the distribution channel because they are the old players and distribute their product in India. Promotion Another one of the 4P’s is promotion. This includes all of the tools available to the marketer for ‘marketing communication’. Reliance has recently started doing heavy promotions. Physical Evidence Physical Evidence is the material part of a service. Strictly speaking there are no physical attributes to a service, so a consumer tends to rely on material cues. As Reliance mobile provide various rental plans. People Reliance always valued their customers. They provide a very cheap call rates affordable to the lower class. Process Process is another element of the extended marketing mix, or 7P’s.There are a number of perceptions of the concept of process within the business and marketing literature TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory • Join • Search • Browse • Saved Papers Marketing Mix Of Reliance Communications In: Business and Management Marketing Mix Of Reliance...
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