...SWARTHMORE COLLEGE LONDON ATHE Level 6 Diploma in Management STRATEGIC MARKETING SHS Task | Table of Contents | Page No | Introduction | 03 | Task 01 | 1.1: Assess the role of Strategic Marketing in an organization | 04 | | 1.2: Analyse the relationship between corporate strategy and marketing strategy | 04 | | 1.3: Analyse how marketing strategy is developed | 05 | Task 02 | 2.1: Evaluate approaches to internal environmental analysis | 06 | | 2.2: Evaluate approaches to external environmental analysis | 06 | | 2.3: Explain how internal and external analysis are integrated | 06 | Task 03 | 3.1: Analyse decisions and choices to be made at a corporate level | 09 | | 3.2: Assess how these decisions influence marketing at business unit and functional level | 09 | | 3.3: Analyse approaches to competitive positioning of organizations | 10 | Task 04 | 4.1: Identify a range of strategies that can contribute to competitive advantage | 11 | | 4.2: Analyse marketing communication strategies | 11 | | 4.3: Analyse marketing strategies, their application and implementation for an | 11 | Conclusion | 12 | References | 13 | Introduction: A marketing strategy is something that every single business, how big or small it is, no matter- needs to have in place. Some business owners are hesitant to set up an actual marketing strategy because they simply don’t know how to do it. All this kind of approach means simply trying something...
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...Customer value-based pricing strategies: why companies resist Andreas Hinterhuber Andreas Hinterhuber is based at Hinterhuber and Partners, Innsbruck, Austria. Introduction Pricing has a huge impact on profitability. Pricing strategies vary considerably across industries, countries and customers. Nevertheless, researchers generally concur that pricing strategies can be categorised into three groups: 1. cost-based pricing; 2. competition-based pricing; and 3. customer value-based pricing. Of these, customer value-based pricing is increasingly recognised in the literature as superior to all other pricing strategies (Ingenbleek et al., 2003). For example, Monroe (2002, p. 36) observes that: ‘‘ . . . the profit potential for having a value-oriented pricing strategy that works is far greater than with any other pricing approach’’. Similarly, Cannon and Morgan (1990) recommend value pricing if profit maximisation is the objective, and Docters et al. (2004, p. 16) refer to value-based pricing as ‘‘one of the best pricing methods’’. Practitioners have also recognised the advantages of value-based pricing strategies. Several companies have successfully adopted such strategies. These include pharmaceutical companies such as Sanofi-Aventis, information technology companies such as SAP and Vendavo, wireless internet service providers such as the Australian company Xone, airlines such as Lufthansa, vehicle manufacturers such as BMW, and biotech companies such as Tigris Pharmaceuticals...
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...Approaches to Marketing Management In common parlance, marketing is the process of selling something at a shop or market place. To some it has meant the study of individual commodities and their movement in the more place; to some it has meant the study of institutions and personas who move these products or study of the economic contribution; whereas to product movements and the way eh perosnas involved move them. Thus the study of marketing has, thus, been approached in more than one ways. However, these different approaches have immensely contributed to the evolution of the modern approach and the concept of marketing. To facilitate the study, these different approaches may be broadly classified as the commodity approach, the institutional approach and the managerial approach. Besides these well recognized and established approaches, of late, the recently developed societal and systems approaches have been attracting considerable attention. A brief description of these different approaches is given below, reflectionghtie respective focus and characteristics. (A) Commodity Approach : In the commodity approach to the study of marketing, the focus of study is a specific commodity, say, wheat, rice, approach, the subject matter of discussion around the specific commodity selected for the study; nature and extent of demand, the distribution channels used and the function, such as buying , selling , financing, advertising, storage repeating such studies in case of different...
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...Learning Outcomes Analyze business environments in terms of transformation systems and internal and external environments Identify the most relevant elements of the business environments using PESTLE analysis and Porter’s five forces model Discuss the classical, human relations and systems approaches to organizations Describe and compare the various structures that may be used within organizations. The business as a transformation system Transformation Process: Businesses utilize the inputs in order to produce the outputs. Types of Environments A simple/static environment is the easiest to analyse. A detailed, systematic, historical analysis is probably sufficient in order to understand it. University of Sunderland Contemporary Developments In Business Management Unit 1: Introduction To The Business Environment In a dynamic environment, all aspects of the environment are subject to change. When changes are rapid or sudden, such environments are referred to as turbulent. Complex environments are becoming more and more common in modern times. Technology, markets, politics, etc. are becoming more difficult and more involved The Organization’s Environment PESTEL Factors PESTEL Analysis Political Economic Socio - Cultural Technological Environmental Legal Political Environment Government policy affects the whole economy and governments are responsible for enforcing and creating a stable framework...
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...ATHE-Level-6 Diploma in Management Strategic Marketing Unit 6.5 Submitted to: London Churchill College Submitted by: Student ID: Date of Submission: Table of Contents: Introduction: 2 Task 1 3 1.1 Assessment on the role of strategic marketing in an organization: 3 1.2 Analysis on the relationship between corporate strategy and marketing strategy: 3 1.3 Analysis on how marketing strategy is developed: 5 Task 2 6 2.1 Evaluation on approaches to internal environmental analysis 6 2.2 Evaluate approaches to external environmental analysis: 7 2.3 The integration of Internal and external environment analyses: 8 Task 3 9 3.1 Analysis on decisions and choices to be made at a corporate level: 9 3.2 Assess how these decisions influence marketing at business unit and functional level: 10 3.3 Analyze approaches to competitive positioning of organization: 11 Task 4 12 4.1 Identify a range of strategies that can contribute to competitive advantage 12 4.2 Analyze marketing communications strategies 13 4.3 Analyze marketing strategies, their application and implementation for an organization 14 References: 15 Introduction: Marketing is one of the most critical and vital functional area. According P. Kotler & A. Chernes, (2012) Marketing is a managerial process for offering products and services for consumption in...
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...MARKETING (WH) {MKTG} L/R 101. Introduction to Marketing. (C) Niedermeier. The objective of this course is to introduce students to the concepts, analyses, and activities that comprise marketing management, and to provide practice in assessing and solving marketing problems. The course is also a foundation for advanced electives in Marketing as well as other business/social disciplines. Topics include marketing strategy, customer behavior, segmentation, market research, product management, pricing, promotion, sales force management and competitive analysis. 211. (MKTG773) Consumer Behavior. (C) Cutright, Reed. Prerequisite(s): MKTG 101. This course is concerned with how and why people behave as consumers. Its goals are to: (1) provide conceptual understanding of consumer behavior, (2) provide experience in the application of buyer behavior concepts to marketing management decisions and social policy decision-making; and (3) to develop analytical capability in using behavioral research. 212. (MKTG756) Marketing Research. (C) Shen, Eliashberg. Prerequisite(s): MKTG 101, STAT 101. Students are highly encouraged to take statistics in the semester immediately preceding this course. This course examines the role of marketing research in the formulation and solution of marketing problems, and the development of the student's basic skills in conducting and evaluating marketing research projects. Special emphasis is placed on problem formulation, research design, alternative methods...
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...example, The Nine Nations of North America (Garreau, 1982), Latitudes and Attitudes: An Atlas of American Tastes, Trends, Politics and Passions (Weiss, 1994) and Mastering Global Markets: Strategies for Today’s Trade Globalist (Czinkota et al., 2003). When reflecting on the nature of markets, consumer behaviour and competitive activities, it is obvious that no product or service appeals to all consumers and even those who purchase the same product may do so for diverse reasons. The Coca Cola Company, for example, varies levels of sweetness, effervescence and package size according to local tastes and conditions. Effective marketing and business strategy therefore requires a segmentation of the market into homogeneous segments, an understanding of the needs and wants of these segments, the design of products and services that meet those needs and development of marketing strategies, to effectively reach the target segments. Thus focusing on segments is at the core of organizations’ efforts to become customer driven; it is also the key to effective resource allocation and deployment. The level of segment aggregation is an increasingly important issue. In today’s global economy, the ability to customize products and services often calls for the most micro of segments: the segment of one. Following and implementing a market segmentation strategy allows the firm to increase its profitability, as suggested by the classic price discrimination model which provides the theoretical rationale...
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...Reprints and permission: http://www. sagepub.com/journalsPermissions.nav DOI: 10.1177/0276146709344954 http://jmmk.sagepub.com Abstract The authors provide evidence that firms can enhance their own objectives by internalizing the objectives of most stakeholder groups. This suggests that society’s objectives, as defined by stakeholders to the firm, can be augmented by the self-interest motivation at the heart of a market system. Specifically examined was the impact of stakeholder responsiveness on innovativeness. The second objective of this study was to explore the impact of compliance-based versus strategic-based regulation approaches on firm innovation and overall corporate social responsibility (CSR). Findings suggest that regulatory responsiveness decreases innovation when firms expend resources only on compliance. Firms adopting strategic-based approaches, such as voluntary regulatory...
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...Business Communication Student Name Student ID Date Business Communication: Business communication is a vital element of the progress of any company including AT&T. THE communication channels that the company has developed in place play a major role in ensuring business success and the successful passage of information from one part of the organization to another. Understanding the communication channels that a company has aids in understanding the information used. The approaches the company employs in propelling the information and the nature of effects that it produces in the company. Different forms of communication exist and each serves specific functions. These include but are not limited to those listed in the table below: Type of information | Example | Description | Purpose | Source | Verbal | Speech at a company gathering, communication between employees | Passage of a message using verbal means to a group within the company | The purpose of this form of communication is to ensure that a message is communicated in form of a speech. These may occur during a gathering or an avenue through which the passage of a message occurs using verbal means | Top management | Written | Business weekly reports, letters to the management, and letters from external bodies such as an auditor’s reports or letter | Based on the departments and their job roles within the company | The written reports provide support to communicating the weekly progress of the operations of the...
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...2010.10.07. CRM – Customer Relationship Management Bianka Parragh, Phd Óbuda University Keleti Károly Faculty of Business and Management Institute of Enterprise Management • Approaches of Customer Relationship Management • The origins of CRM • The rise of CRM • The role of CRM • Types of CRM 1 2010.10.07. RE-INVENTING CRM In the late 1990s and early year of the 21th century, CRM was offered up as the next wave of marketing. The tools and techniques that would make traditional marketing obsolete. The automated approaches that would make customer relationships automatic and would enable the marketing organization to shell anything to anyone they chose. CRM was the single solution that would solve every marketing problem. Simply install the software, plug in the customer data and sit back and watch the profils roll in. But it wasn’t that simple. It wasn’t that easy. And, it simply didn’t work that way. Millions of dollars anp pounds and yen and Euros were spent on CRM systems, software and structures but, not enough seemed to come back. The five important things are about the book’s approach to CRM 1.Strategic, not more tactics. CRM is a business decision, made by business managers to achieve business goals. So, most of all, this approach to CRM is strategic. 2. Customers, not companies. Payne’s approach puts the company and the customer in perspective. If there is no benefits to the customer, there can be no benefit to the company. CRM is reciprocal process...
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...This article was downloaded by: [Kingston University Library] On: 02 November 2013, At: 01:05 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37-41 Mortimer Street, London W1T 3JH, UK Journal of Marketing Management Publication details, including instructions for authors and subscription information: http://www.tandfonline.com/loi/rjmm20 Relationship Marketing Theory: Its Roots and Direction Kristian Möller & Aino Halinen Published online: 01 Feb 2010. To cite this article: Kristian Möller & Aino Halinen (2000) Relationship Marketing Theory: Its Roots and Direction, Journal of Marketing Management, 16:1-3, 29-54, DOI: 10.1362/026725700785100460 To link to this article: http://dx.doi.org/10.1362/026725700785100460 PLEASE SCROLL DOWN FOR ARTICLE Taylor & Francis makes every effort to ensure the accuracy of all the information (the “Content”) contained in the publications on our platform. However, Taylor & Francis, our agents, and our licensors make no representations or warranties whatsoever as to the accuracy, completeness, or suitability for any purpose of the Content. Any opinions and views expressed in this publication are the opinions and views of the authors, and are not the views of or endorsed by Taylor & Francis. The accuracy of the Content should not be relied upon and should be independently verified with primary sources of information. Taylor and Francis...
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...viewpoint of the CEO of Toyota will be applied. II. Time Context Present Year III. Objectives Toyota Motor Corporation’s objective is to identify ways to keep up and adapt with the foreign business cultures to successively expand by at least 10% before 2020. IV. Statement of the problem Minor Problems: • Strategies to adapt with foreign cultures and anticipate its possible negative effects • While adapting to foreign cultures, Toyota’s products should maintain its products’ quality • Adaptation with the business environment Major Problem: • Problems in expansion due to issues in foreign culture adaptation V. Areas of Consideration | |Finance |Marketing |Production/Operation | |Strengths |Brand reputation valued at billions |Innovative culture |Industry leader in production and | | |of dollars |Strong brand portfolio |sales | | |Strong financial performance |Highly targeted marketing |“Toyota Production System” | | | |Diversified product range |Has 40 production facilities in more| | | ...
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...Business Plan for Acting Agency Name Institution Business Plan for Acting Agency Introduction An acting agency is an entity or a company that represents or finds jobs for artists, film directors, screenwriters, models, or musicians in entertainment or film industry. The acting agency supports, promotes, or defends the clients' interests. An accounting agency can specialize on various talents in the film industry by establishing different departments within the company or specify on a single specialty. As such, the acting agencies can range from being commercial talent, modeling, sport, broadcast journalist, voice-over, music, film, or literal agencies. The status of Exposure Acting Agency has aroused interest to give them growth and development ideas after noticing its decline in its business, especially the way it does not receive requests for actors for the past few months. In this case, this report provides an effective business plan that Exposure Acting Agency can implement into their organization to thrive their success in the film industry. Background The aim of this plan reports it to help Exposure Acting Agency streamline its products and services to make sure its signed actors receive frequent requests from film directors, which is the healthy way of ensuring business growth and talent development. Receiving frequent requests for the actors will help the company to drive its growth and sustainability, as it achieves the...
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...//As per the directions, the section explains about the operational approaches that can be used for service and manufacturing organizations. It discusses the important operational approaches like Customer Relationship Management (CRM), Enterprise Service Management (ESM), Supply chain Management (SCM) and Decision Making Framework (DMF).\ To serve the different needs and expectation of various customers effectively, it is necessary to implement effective operational approaches, which enable the organization to meet the standards of particular industry. There are various operational approaches for a service and manufacturing organization, which are necessary for increasing the productivity and efficiency of the organization. I have chosen consumer relationship management as an operational approach for service organization and supply chain management for manufacturing organization. Operational Consumer relationship management: It is used to handle relationship with customers and assists the front office business processes such as marketing, sales and service. Each contact with the customer is added to the contact history of the customer, which can be used later by the employees to analyze information from the customer's database. This CRM practices the data of customer for a number of purposes such as to manage different campaigns, sales force automation and marketing automation. Enterprise service management (ESM): It is the most important approach used by service organization...
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...Business Plan for Acting Agency Name Institution Business Plan for Acting Agency Introduction An acting agency is an entity or a company that represents or finds jobs for artists, film directors, screenwriters, models, or musicians in entertainment or film industry. The acting agency supports, promotes, or defends the clients' interests. An accounting agency can specialize on various talents in the film industry by establishing different departments within the company or specify on a single specialty. As such, the acting agencies can range from being commercial talent, modeling, sport, broadcast journalist, voice-over, music, film, or literal agencies. The status of Exposure Acting Agency has aroused interest to give them growth and development ideas after noticing its decline in its business, especially the way it does not receive requests for actors for the past few months. In this case, this report provides an effective business plan that Exposure Acting Agency can implement into their organization to thrive their success in the film industry. Background The aim of this plan reports it to help Exposure Acting Agency streamline its products and services to make sure its signed actors receive frequent requests from film directors, which is the healthy way of ensuring business growth and talent development. Receiving frequent requests for the actors will help the company to drive its growth and sustainability, as it achieves the...
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