...INTRODUCTION: Digital marketing is a process of building and maintaining customer relationships through online activities to facilitate the exchange of ideas, products and services that satisfy the goals of both parties. Digital marketing increases and improves the interactions and relationships with current and prospective customers through various platforms like social networking sites, instant messaging systems and mobile applications. First of all, this is a type of direct marketing, with all of the advantages that comes tagged along with it. It gives personal attention to the customers, motivates to action and more. Second, it's possible to create uniform messages which are personally formatted for each recipient with great ease. For...
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...Advantages of Internet Promotion The emergence of globalise trade, increase in foreign investment and cross-border transactions have put many small businesses under pressure to find innovative ways to continue to market their products and services. This is especially difficult given that they often operate on tight marketing budgets. In the quest for cheap marketing alternatives, these small businesses continue to use conventional marketing tools such as newspaper, magazine, radio and television advertisements, unaware of the advantages that Internet Promotion offers. All too often, these entrepreneurs focus on the disadvantages of Internet Promotion and fail to adequately take advantage of the opportunities that it presents. Moreover, their preoccupation with conventional marketing strategies is driven by a misconception that these are cheaper than Internet Promotion. (article continues below...) To most small business entrepreneurs, marketing or promoting their products or services via the Internet can be a daunting task. However, with adequate information small businesses can benefit significantly from Internet Promotion while minimising the disadvantages that it presents. In fact, it may prove to be the marketing strategy that generates the highest return on investment. Advantages of Internet Promotion Cost Effective and Enduring Marketing Strategies The Internet has become the information superhighway for the buying public. Most persons prefer the hassle free transactions...
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...Marketing in Action 2.1 1. Describe the advantages of strategic planning, and discuss how it might be employed by a company with which you are familiar. Strategic planning gives the company the ability to identify and address needs and wants that are not being satisfied by their competitors; save money and increase revenue by directing resources toward more profitable markets or even only specific demographics within a single market; anticipate technological and societal trends to better serve existing markets; anticipate technological and societal trends to reveal new or previously unexplored markets; stimulate demand by releasing separate, complimentary product lines simultaneously; create and execute innovative marketing strategies which utilize the company’s wealth of knowledge regarding their market and society at large to generate demand for not only the company’s products but also their brand. McDonald's vision statement is "to be our customers' favorite place and way to eat and drink." Becoming their customers’ favorite place to eat is a multifaceted problem and takes an array of strategic solutions – solutions which, over time, McDonald’s has realized into reality and success. A customer’s attachment to the McDonald’s brand begins in childhood where the influence is twofold. ‘Kids’ meals’ are marketed specifically to children, which include tie-in toys with franchises which are popular with children. Further familiarizing children with the McDonald’s brand are...
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...EVALUATION OF MARKETING AND LOGISTICS INTERFACE AND ITS ADVANTAGES IN AN ORGANIZATION Submitted By Manikanta ABSTRACT This study ON EVALUATION OF MARKETING AND LOGISTICS INTERFACE AND ITS ADVANTAGES IN AN ORGANIZATION. This research paper is basically to evaluate the marketing and logistics cooperation and to know its importance in any organization .The primary purpose of the paper is to find the advantages of an organization to have Marketing and logistics interface. This research required us to conduct the consumer research. To find out perspectives of the people about the importance of marketing and logistics interface in an organization. CONTENTS INTRODUCTION 5 REVIEW OF LITERATURE 5 OBJECTIVES 6 RESEARCH METHODOLOGY 7 ANALYSIS AND INTERPRETATION 8 SUGGESTIONS 19 INTRODUCTION Organizations began to view their business as a collection of processes, rather than as a collection of processes, rather than as a collection of functions and departments. As processes cut across functional boundaries, greater attention needs to be devoted to interface activities. In order to build a cohesive organization, it is important that points of commonalities between functions are identified and emphasized. The purpose of this research is to analyze how the link between marketing and logistics can be co-ordinate in order to use this link as a sustainable competitive advantage. The level of cooperation between marketing and logistics...
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...ideologies which include concepts and principles. However, the most important thing in business is marketing because it creates awareness to customers of the products of a business. As this is the case, managing directors and marketing managers should always make sure that they employ effective marketing principles in attracting customers and retaining them. The objective of marketing is to retain existing customers and attracting new ones. Business is about satisfying customers and thus increasing their activity with your business. As in most business sectors there is tough competition meaning that businesses can only gain competitive advantage when they are effective in marketing & good customer service, which includes creating good rapport via public relations. However, this is not as easy as it sounds and much work has to be done in order to attain it. Customers will make choices of where to go for goods or services based on many things - including their perception of the attitudes of employees. Four main aspects have been selected as the main determinants of the success of any business. They include the place where the business is located, the product(s) itself, the price of the product and the manner in which the company promotes its products. A combination of the 4 P’s and a PEST analysis are likely to improve or produce excellent results. Introduction Applying marketing principles are the building blocks in business growth and provide a business with in-depth exposure...
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...The fundamentals of standardizing global marketing strategy Nanda K. Viswanathan Delaware State University, Dover, Delaware, USA, and 46 Received February 2004 Revised February 2006 Accepted February 2006 Peter R. Dickson Florida International University, Miami, Florida, USA Abstract Purpose – To examine issues of standardization and adaptation in global marketing strategy and to explain the dynamics of standardization. Design/methodology/approach – This is a conceptual research paper that has been developed based on gaps in prior frameworks of standardization/adaptation. A three-factor model of standardization/adaptation of global marketing strategy was developed. The three factors include homogeneity of customer response to the marketing mix, transferability of competitive advantage, and similarities in the degree of economic freedom. Findings – The model through the use of feedback effects explains the dynamics of standardization. Research limitations/implications – Future research needs to empirically test the model. To enable empirical validation, reliable and valid measures of the three factors proposed in the model need to be developed. Additionally, the model may be used in future research to delineate the impact a variable may have on the ability of a firm to follow a standardized global marketing strategy. Practical implications – The three-factor model aids decisions relating to standardization in a global marketing context. Originality/value – The paper furthers...
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...Principles of Marketing GIMS – PSG Coimbatore Winter Semester 2013/14 Day 2 Prof. Dr. Wengler Page 56 Day 2 Principles of Marketing GIMS – PSG Coimbatore Winter Semester 2013/14 What did you learn yesterday? Prof. Dr. Wengler Page 57 Day 2 Principles of Marketing GIMS – PSG Coimbatore Winter Semester 2013/14 Questions regarding the reading? Prof. Dr. Wengler Page 58 Day 2 Principles of Marketing GIMS – PSG Coimbatore Winter Semester 2013/14 Current Economic (World) News Prof. Dr. Wengler Page 59 Day 2 Principles of Marketing GIMS – PSG Coimbatore Winter Semester 2013/14 Agenda 09.00 a.m. – 09.30 a.m. 09.30 a.m. – 10.45 a.m. 11.00 a.m. – 12.15 p.m. Repetition & News Review Selection of Product & Market Competitive Advantage 12.15 p.m. – 01.30 p.m. Lunch-Break 01.30 p.m. – 03.15 p.m. Marketing Intelligence Case Study 1 “Registration of new automobiles in Germany” Consumer Behavior 03.30 p.m. – 05.45 p.m. Prof. Dr. Wengler Page 60 Day 2 1. Selection of Product & Market Principles of Marketing GIMS – PSG Coimbatore Winter Semester 2013/14 Selection of Product & Market Objectives The aim of the class “Principles of Marketing” is to teach you the tools to develop an own marketing plan for a selected product, which you will have to apply in your first research project. However, the choice of the product and therefore the market, is on your side. In the next hour you have the opportunity to present us the product...
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...Online Retail Marketing Amy Schmitt Western Governors University June 1, 2013 Table of Contents Summary of Online Marketing……………………………………………………………………………..... 3 Advantages of Online Marketing…………………………………………………………………………….. 5 Disadvantages of Online Marketing…………………………………………………………………………. 6 Potential of Online Sales for Company………………………………………………………………………. 7 Requirements for a Successful Online Marketing Campaign…………………………………………………8 Conclusion……………………………………………………………………………………………………. 9 Reference Page…………………………………………………………………………….. ………………10-11 Summary This report will provide all research done to provide adequate information for online marketing opportunities regarding retail sales. I will provide information and statistics that will give a better understanding of how to market a product successfully. This report will cover the disadvantages and advantages of marketing products online. When properly marketing products online, a company can boost their sales substantially. This is something all retail companies should take into consideration. Online Marketing Advantages A company must consider the many different ways of marketing. Online marketing, if done correctly, can prove to be very beneficial. A company needs to determine if the product they are selling can benefit from an online marketing campaign. Marketing online has several advantages involved with it. A few of these advantages include: The ability to reach a larger, even global...
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...SCHOOL OF MANAGEMENT TO DR. FRANCIS PIROH Explain The Differences Between A Standardized And Localized Strategy. Which Are The Advantages And The Disadvantages Of Each One? Explain The Differences Between A Corporation With An Ethnocentric, Polycentric, And Geocentric Orientations. How The Concept Of Competitive Advantage Can Be Applied In International Marketing? This paper is submitted in the partial fulfilment of Marketing Management course By FRANCES GRACEY DADZIE March 2013 SCHOOL OF MANAGEMENT TO DR. FRANCIS PIROH Explain The Differences Between A Standardized And Localized Strategy. Which Are The Advantages And The Disadvantages Of Each One? Explain The Differences Between A Corporation With An Ethnocentric, Polycentric, And Geocentric Orientations. How The Concept Of Competitive Advantage Can Be Applied In International Marketing? This paper is submitted in the partial fulfilment of Marketing Management course By FRANCES GRACEY DADZIE March 2013 Standardization marketing strategy is typically applied to discussion of global businesses and a means to market a solution with uniform consistency throughout the marketing mix. This is an opposite approach to a localized strategy, under which multinational companies differentiate their product and adapt it to fit the unique needs of countries.Localization as defined by the business dictionary is where by a business operates in a number of countries, adjusts its products and practices...
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...Green Marketing: A path for achieving Competitive Advantage through Customer Satisfaction, Trust and Confidence. Introduction In 1970s the word “GREEN “grabbed the attention of industrialist & others. Green is coined in Europe to refer to a particular politics & lifestyle . The concept is famous in United Kingdom & some other countries but it is unfamiliar in the international business environment due to the lack of universal consistent meaning. Green marketing incorporates a broad range of activities including product modification , changes to production process , packaging changes& also changing advertising strategies. Thus,Green marketing involves developing and promoting products and services that satisfy customers want and need for Quality, Performance, Affordable Pricing and Convenience without having a detrimental input on the environment.Environmentally responsible or "green" marketing refers to the satisfaction of consumer needs, wants, and desires in conjunction with the preservation and conservation of the natural environment. After a misguided attempt at green marketing in 1980s & 1990s now marketers are getting right. The time has emerged where consumers demand products with quality , convenience & affordability with environmental soundness. The conventional marketing is out and green marketing is in. Concept of Green Marketing Green marketing refers to the process of selling products and/or services based on their environmental benefits. Such a product or...
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...used as a marketing technique is proving to be an essential and necessary tool used in today's business environment. Some of the advantages of using social media as a marketing technique include: increase in brand awareness, increase in sales revenue, increase in customer service, and increase in free marketing. Social media marketing is growing and it must be taken advantage of by business or else they will fall behind. Marketing through social media has became an integral part of the marketing plan for companies so much that 92% of marketers in 2014 believed that social media marketing played an important role in the business. The big name social media websites such as Facebook, Instagram, and Twitter are only a few of the many ways that marketers take advantage of such a growing marketplace. Although Instagram and Snapchat are on the rise in the social media world, Facebook and Twitter will be the primary focus of social media promotion for Pirates Disc Golf & Recreation. Social media marketing is being referred to as, "the next big thing" and most definitely needs to be taken advantage of (DeMers, 2014). Facebook Facebook provides an incredible opportunity as a social media website for business to promote and create company exposure. Business would not believe some of the ridiculous facts and statistics about Facebook usage and activity. Currently there are over 1 billion Facebook users and because of this crazy statistic Facebook's importance in marketing cannot be...
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...J. of the Acad. Mark. Sci. (2012) 40:102–119 DOI 10.1007/s11747-011-0279-9 Marketing and business performance Neil A. Morgan Received: 28 July 2011 / Accepted: 1 August 2011 / Published online: 20 August 2011 # Academy of Marketing Science 2011 Abstract Academics and managers have struggled for many years to understand and delineate the role of marketing in explaining business performance differences between firms. Most of the theory base for any such attempts has to be informed by strategic management theory, since the primary question that strategic management seeks to answer is why some firms outperform others over time. This paper synthesizes three major streams of thought in strategic management with the empirical and theoretical literature on strategic marketing to develop an integrative theory-based conceptual framework linking marketing with firms’ business performance. Keywords Marketing strategy . Marketing resources . Marketing capabilities . Positional advantage . Competitors . Market performance . Financial performance Introduction The role of marketing in explaining firms’ business performance has received significant attention throughout the history of the marketing discipline. The need to link marketing with business performance has become more Acknowledgements Doug Vorhies contributed to much of the thinking represented in this paper—a version of which we set out to write together more than a decade ago but never got time to...
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...campaigns for a wide range of clients. Hiring experienced, top-level marketing personnel in-house can be an insurmountable challenge for many small businesses, and taking advantage of professional services can allow your campaigns to achieve the same level of quality as the major players in your industry. Selecting a reputable advertising agency ensures that your advertising campaigns will be developed and administered by the cream of the crop in the advertising industry. Ad agencies hire the best of the best, and their specialists' skills are honed further by focusing solely on developing and maintaining advertising campaigns for a wide range of clients. Hiring experienced, top-level marketing personnel in-house can be an insurmountable challenge for many small businesses, and taking advantage of professional services can allow your campaigns to achieve the same level of quality as the major players in your industry. Selecting a reputable advertising agency ensures that your advertising campaigns will be developed and administered by the cream of the crop in the advertising industry. Ad agencies hire the best of the best, and their specialists' skills are honed further by focusing solely on developing and maintaining advertising campaigns for a wide range of clients. Hiring experienced, top-level marketing personnel in-house can be an insurmountable challenge for many small businesses, and taking advantage of professional services can allow your campaigns to achieve the...
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...THE PROS AND CONS OF INTERNET MARKETING INTRODUCTION: Internet marketing, also known as web marketing, online marketing, webvertising, or e-marketing, is referred to as the marketing (generally promotion) of products or services over the Internet. When Internet was still in its formative years, marketing people used to depend on traditional media such as television, radio, handbills, billboards, newspapers, and magazines. Today, the Internet is premium source for promoting your business. There has been a rapid rise in the number of internet users since last few years. Thus Internet is the lucrative place to promote the business. Background Now it is a well-known fact that what we call 'marketing' has undergone substantial changes over the recent years, and the key role in this transformation has been played by internet. Internet "refers to the physical network that links computers across the globe. It consists of the infrastructure of network servers and wide area communication links between them that are used to hold and transport the vast amount of information on the internet". Introduction of internet have reshaped the structure and performance of different sectors, e.g. hospitality, travel, health and medicine, marketing education etc. Introduction of internet has changed the rules and marketing practioners have no way but to adhere to it. In fact marketing is just one of numerous fields have been substantially revolutionized by internet-based technological ...
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...Ambrose Robert Investigation: Social Media and Marketing “Marketing which occurs via social media is known as social media marketing.” (Nadaraja and Yazdanifard, n.d.) “Social media, which begins as an entertainment tool in the beginning, then became the most recent marketing phenomena because of its remarkable advantages in business area. Social media is used because it has time, audience, relations and cost advantages. s. Costs can be reduced through social media as the distribution part necessary in mass media, is got rid of. Most social media outlets are accessed free of charge. Besides, the development of target groups and issue-by-issue advertising and promotion are available at a lower cost.” (Kirti\cs and Karahan, 2011) Social media brought out drowning businesses by increasing the sales of business giants as customer relationships were built and product value had increased. This cost effective tool has many advantages and disadvantages connected with it. Advantages from reliable, cost-effective, and mass reach. Disadvantages from privacy issues, copyright issues and negative feedback due to bad advertising. Cost Related: Financial constrains related to marketing through social media are very less, on the other hand traditional or manual methods cost marketers huge sums of money which add to the cost of the product and decrease sales. Thus, social media is the most cost effective technique in today’s world to communicate with consumers and let them know what...
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