...Expansion into Online Marketing/E-Commerce Table of Contents Executive Summary…………………………………………………………………… 3 Introduction……………………………………………………………………………..4 Research Findings………………………………………………………………………5 Finding Number 1………………………………………………………………5 Finding Number 2………………………………………………………………6 Finding Number 3……………………………………………………………6, 7 Recommendations………………………………………………………………………8 Conclusion………………………………………………………………………………9 References………………………………………………………………………10 Executive Summary Monte Carlo Magic, LLC is a medium level competitor in the casino gaming supplies industry within the United States. Monte Carlo Magic, LLC. has eight retail locations across the United States servicing the main casino centers within the United States. Monte Carlo Magic, LLC. desires to become a larger player within the casino gaming supplies industry not only in the Unites States, but expand their reach globally. Currently, the cost for opening retail locations in casino centers around the globe is an expensive venture. The large investment costs would include retail outlet leasing, manpower costs, warehouse distribution supporting the individual retail outlets and political climate of the different countries we expect to expand into. It is our position that we can accomplish the same market penetration by providing...
Words: 2187 - Pages: 9
...Marketing is Strategy by Haidar Shbeeb I personally believe that every business owner should develop a written guideline that sets forth the business’s marketing strategy. A good marketing strategy for example, provides specific goals that include: * A description and an understanding of the intended target. * The competitive market that the company will compete in. * The distribution channels. * The unique positioning of the company and its products versus other competitors. * The reasons why it is unique to buyers/consumers. * The price strategy versus competition. * The spending strategy with advertising and promotions. Another important aspect to look at is the overall company marketing strategy: * What is the definition of the current business? * What is the business’s position? Is it a leader, challenger or follower? * What is the brand, business personality or image that is desired in the minds of buyers/consumers? In order to determine what marketing strategy to use, business owners need to determine the fundamentals of marketing (The 4P’s): * Price: is based on the type of service, competitors and the target’s spending power. * Product: What sort of product or service is the business? * Place: Is it convenient or enough for the consumers? * Promotion: What sort of advertising techniques or options are available to use? Different types of Marketing Strategies: * Affinity...
Words: 291 - Pages: 2
...Digital Marketing Tool MRKT 5000 Online Course Julia Huelsmann Twitter Emerges as a Digital Marketing Tool Case Summary: According to Twitter’s website, ‘Twitter is an information network that brings people closer to what’s important to them”. The company was started by Biz Stone and Evan Williams . The idea behind the business was to create podcasts, but very quickly it turned into more of social networking system we know today. Any user, whether individual using for personal purposes, or business can send out ‘tweets’ or short messages about any topic. Anyone who chooses to follow the user will have access to read all the ‘tweets’ from that user. Business can also ‘tweet’ on Twitter about their products. Not only can Twitter be used for marketing , but it can also be a tool for gathering marketing information through ‘listening’ to others who are ‘tweeting’ about the business, competition or the industry in general. Key Marketing Issues * Using Twitter marketing just to use it – Many companies are aware of the need to evolve its marketing strategies as the technology and social media evolve. Not all companies, though, understand how to use these social networking sites to really market their products. Companies need to ‘listen’ first and then implement a Twitter strategy. By ‘listening’, or paying attention to their consumers who are ‘tweeting’ or other companies in their respective industries, companies can develop better marketing strategies...
Words: 1587 - Pages: 7
...Viswanathan, N. & Dickson, P. 2007, ‘The fundamentals of standardizing global marketing strategy’, International Marketing Review, vol. 24, no. 1, pp. 46-63. Introductory Academic Program – Academic English The issue of standardisation versus adaptation, which affects all international business organizations, continues to evolve as markets and technologies develop further. In the article ‘The fundamentals of standardizing global marketing strategy’ (2007), Viswanathan and Dickson contribute to the discussion by examining the considerations related to the standardisation of a multinational company’s marketing practices. The authors subsequently propose a new theoretical framework that identifies three complex drivers to be considered in evaluating the degree of marketing standardisation possible: the similarity of consumer response to the marketing mix, the transmissibility of competitive advantage, and similarities in the amount of economic freedom in different markets. The article imparts perceptive insights on the latter two drivers, which, according to the literature review, have been relatively ignored by researchers in comparison to the role of consumers. This critical review assesses the structure and practicality of the proposed conceptual framework, as well as the comprehensiveness of the authors’ exploration of the issue. The proposed theoretical model, intended for the use of marketing practitioners as an instrument in decision-making, appears reasonably sound,...
Words: 981 - Pages: 4
...The Role of Marketing DeVry University Introduction to Business and Technology, Week 5 research paper Describe, explain and address the roles of Marketing. How does marketing research provide information to answer the four Ps of marketing? How do those roles differ in a business versus a non-profit organization? The Role of Marketing Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. For a business to survive in today’s world, the business owner must market their products or services to attract consumers. Once the consumers are onboard a business owner must appeal to these consumers by using and applying different marketing strategies to keep them and be able to want them to return and continue buying their product and/or using their services. How does marketing research provide information to answer the four Ps of marketing? The Four P’s of marketing consist of Product, Promotion, Price and Place. The product is obviously the most important of the P’s. Research is needed to find out if the product appeals to the consumer first. This is usually done through surveys or observation of similar products to obtain the interest or need. Many different things can attribute, such as size, quantity, availability, along with time of the year. The Promotion part is what will get the consumer’s attention, whether its through newspaper flyers, radio, TV, physical signs/banners...
Words: 1148 - Pages: 5
...| Marketing the Vanguard Group | Marketing 532 | | Karen Garcia | 11/29/2011 | | Executive Summary Vanguard group is a Mutual Funds sales company who specializes in offering low cost and long-term investments. Sixty percent of their assets are held by retail consumers, and the remaining forty percent is held by institutions through corporate retirement plans. In 2003, although Vanguard had one of the lowest operating costs in the industry as a percent of average net assets, the firm also experienced a significant amount of churn, or customer loss. To address strategic issues such as maintaining a low cost structure, customer churn, and profitability across target markets. The firm implemented a reorganization plan which measured quantitative as well as qualitative aspects in their operations. Metric system tools were put in place to measure how the firm operated in the different business segments they serviced. A special emphasis was placed in how marketing efforts should be concentrated to increase growth, how value propositions could be improved, and how costs could be minimized without sacrificing service and product qualities. Service Description Vanguard group provided low-cost long-term mutual fund investments to consumers. Although the two major business categories were retail clients and institutional private retirement funds. Within the two major categories Vanguard had three consumer groups: Core clients who held up to $250,000 in assets, Voyager...
Words: 2449 - Pages: 10
...global brands and advertising with cultural shock, explained on the basis of Trompenaars and Hampden-Turner’s dilemmas’ theory. The qualitative method used in this research were 53 in-depth interviews. Results demonstrated that expatriates relay on well-known brands to adapt to new environments when they are abroad and that specific advertising help them to reconcile dilemmas. Key words: Global brands, advertising, expatriates, cultural shock Introduction Economic and social factors are working to increase global competition and global operations, and subsequently an acceleration of traffic in expatriation and repatriation. Johansson and Ronkainen (2005) state that research shows that one of the most common features of a globally integrated marketing strategy is the adoption of one brand name around the world, whereas Callow and Schiffman (2002) talk about how advertising interpretations are dependent on cultural factors of the viewer. Therefore, the present paper is relevant because it demonstrates that particular attention should be drawn to expatriates during their sojourn abroad. While struggling to adjust both as individuals and professionals, expatriates should deal with uncertainty and risk taking. They should also face different behavioral patterns, which could be explained by the more individualistic or more communitarian orientation (Trompenaars and Hampden-Turner, 2006) of home and host cultures. Thus, this article aims at providing some understanding of the role played by...
Words: 3553 - Pages: 15
...Branding and marketing are important concepts for any business. This case study will explore the Cisco marketing case study in the Kotler and Keller, 2012 Marketing Management textbook. First off, the study will explore the differences between building a brand in a business to business context versus building a brand in a consumer market. Furthermore, the study will also explore if Cisco's plan to reach out to consumers is a viable one. First off, branding in a business to business application has some notable differences over the consumer market. Cisco had to utilize some ingenious methods of branding during the marketing of its routing and networking products. Cisco's original product line was made for sale to other businesses for use in the internet connectivity market. For Cisco to develop their brand, they had to develop a totally different approach than ones utilized in the consumer market. They had to specificity market their product to the companies who were operating data centers and server farms. In this type of industry, often good brands are developed by targeting specific types of consumers and in this case it was computer scientist and information technology experts. This can be accomplished in several ways. One method is essentially setting up sales meetings with potential information technology customers. Theses meetings can be utilized to get the brand name out there and possibly show off the superiority of the networking product. Additionally, targeted...
Words: 1109 - Pages: 5
...African Journal of Business Management Vol.6 (22), pp. 6456-6464, 6 June, 2012 Available online at http://www.academicjournals.org/AJBM DOI: 10.5897/AJBM11.2673 ISSN 1993-8233 ©2012 Academic Journals Review Key issues in cross-cultural business communication: Anthropological approaches to international business Tian Guang* and Dan Trotter Shantou University, Shantou City, Guangdong Province, Southern China. Accepted 8 March, 2012 Cultural factors have long been known to influence the communication and success potential of competition. Cultural awareness shapes how business firms behave in cross-culturally reflected international markets. It is broadly recognized that cultural factors act as invisible barriers in international business communications. Understanding cultural differences is one of the most significant skills for firms to develop in order to have a competitive advantage in international business. This paper probes some key elements of cross-cultural issues in international business communication and provides a framework for creating competitive advantage for firms engaged in international business. Culture affects many aspects of international business communication. It impacts free trade policies, localization and standardization strategy decisions, advertising, brand effectiveness, business relationships, international business management, international marketing, international negotiation, and consumer behavior. Seven themes are suggested as guidelines...
Words: 6912 - Pages: 28
...archive of this journal is available at www.emeraldinsight.com/0265-1335.htm International e-marketing: opportunities and issues Jagdish N. Sheth Goizueta Business School, Emory University, Atlanta, Georgia, USA, and E-marketing: opportunities and issues 611 Received October 2004 Revised June 2005 Accepted July 2005 Arun Sharma School of Business, University of Miami, Coral Gables, Florida, USA Abstract Purpose – E-marketing is growing at a dramatic pace and is significantly impacting customer and business market behaviors. As a result, most firms have started developing e-marketing strategies for the web. However, the evolution and strategic direction of e-marketing strategies in international environments has not been discussed and is the focus of this paper. Design/methodology/approach – In this paper, the authors examine two issues based on extant literature and our previous research in this area. The authors discuss e-marketing in an international context and develop a framework that will allow researchers and managers to understand the impact of country level effects on e-marketing strategies. The paper proposes that the evolution of e-marketing strategies is based on the countries infrastructure and marketing institutional development. Findings – It is found that international e-marketing strategies are fundamentally changing, and will continue to change, marketing thought and practice in international markets. The paper suggests that the e-markets of tomorrow...
Words: 5666 - Pages: 23
...Confirming Pages CONTENTS PREFACE xv PART 1 CHAPTER 1 GLOBAL MARKETING ENVIRONMENTS 1 Understanding Global Markets and Marketing 2 markets are becoming global 2 globalization: the world is becoming smaller 3 globalization and global marketing 4 Globalization: Opportunity or Threat? The Global Marketing Approach 6 6 global marketing and global markets 7 the cage distance framework 7 domestic and global marketing compared 8 Geographic or Spatial Distance 10 Psychic/Cultural Distance 12 The EPRG Framework 13 Developing Global Marketing Strategy 14 The Standardization versus Localization–Adaptation School 14 Levitt and the Globalization of Marketing 16 Standardization versus Mass Customization 17 Managing the Firm’s Value Chain 18 Global Value Chain Configuration 19 Integrating the Firm’s Competitive Strategy 20 Global Competition 20 a global marketing management framework Global Marketing Performance 22 Global Vision—The World Is My Oyster CASE 1-1 CASE 1-2 CHAPTER 2 21 23 A Tortuous Road Ahead for Proton of Malaysia 26 Dabur—Developing Values in an Emerging Economy Through Value Chain and Product Line 31 Assessing the Global Marketing Environment—The Global Economy and Technology 36 the global economy 37 Economic Growth and World Trade 37 Who Are the United States’ Major Customers? 38 High Tech Products Lead World Trade 40 Characteristics of High Technology Markets 42 Technology and Global...
Words: 1893 - Pages: 8
...Chapter 1 Consumers Rule 1-1 How old is Bungy Jumping? • Bungy jumping turned 26 in 2014 • Where is the highest bungy jump? • http://www.youtube.com/watch?v=4Wf1yndBO 0w • AJ Hackett’s Tower in Macao –Auckland Stock Exchange B – 764 feet Chapter Objectives When you finish this chapter, you should understand why: • Consumers use products to help them define their identities in different settings (think of consumers as role players who need different products). • For example, many family social occasions are accompanied by food and drink, and the consumption of these goods acts as a shared bond that the group uses to define membership in that group. Another example is the style of clothing (e.g., A & F, Hollister) worn by young people to define their group membership. • Consumer behavior is a process involved when individuals or groups select, purchase, use, or dispose of products, services 1-3 Chapter Objectives • Marketers need to understand the wants and needs of different consumer segments (product usage, demographics, and psychographics- redneck bank) • The Web is changing consumer behavior: a problem is the loss of privacy and the deterioration of traditional social interactions • Consumer behavior relates to other issues in our lives-public policy issues (e.g., ethical marketing practices) and the dynamics of popular culture • Consumer activities can be harmful to individuals and to society (terrorism-poisoning...
Words: 2306 - Pages: 10
...three questions about key areas of the macroenvironment. • What demographic changes are likely to affect Sonic’s targeted segments? • What economic trends might influence buyer behavior in Sonic’s targeted segments? • How might the rapid pace of technological change alter Sonic’s competitive situation? Chapter 4 Your next task is to consider how marketing research can help Sonic support its marketing strategy. How can Sonic can measure results after the marketing plan is implemented. She wants you to answer the following three questions. • What surveys, focus groups, observation, behavioral data, or experiments will Sonic need to support its marketing strategy? Be specific about the questions or issues that Sonic needs to resolve using marketing research. • Where can you find suitable secondary data about total demand for Smartphones over the next two years? Identify at least two sources (online or off-line), describe what you plan to draw from each source, and indicate how the data would be useful for Sonic’s marketing planning. • Recommend three specific marketing metrics for Sonic to apply in determining marketing effectiveness and efficiency. Chapter 5 Sonic has decided to focus on total customer satisfaction as a way of encouraging brand loyalty in a highly...
Words: 1767 - Pages: 8
...broader marketing audience which resulted in their company becoming the most valuable company in the world in March 2000. Successful marketing requires capabilities such as understanding, creating, delivering, capturing while also sustaining value. Along with these needed additives, one must understand that business to business and business to consumer relate to each other. However, they must be handled or strategically attacked with separate or specific missions. With building a brand, one must develop a strong marketing strategy in order to generate profit. Business to business marketing is geared more to business buyers and sellers whereas business to consumer focuses on the individual consumers need or want. When it comes to the marketing aspect of the two, the marketing strategy, advertisement, internet marketing, and public relations will all have to be executed in specific ways in order to target the right audience. There are also similar but different aspects that should be considered when developing marketing strategies for business to business and business to consumer as well. Business to business markets tend to be more on a personal level to which companies focus on getting to know their customers in order to establish a working relationship. However, in the consumer market, mass communication and distribution tools are needed in order for the product to market well. There other areas of differences between business to business and business to consumer such...
Words: 469 - Pages: 2
...~WELCOME~ Sunderland Business School University of Sunderland MBA MARKETING MANAGEMENT Module Code: PGBM 15 ~Module Introduction ~ ~Concepts of Marketing Management~ Presented by: Frankie Lim Frankie Lim L1 Module Introduction & Concepts of Marketing Management L1-1 Lecture Outline (PGBM 15) • Welcome & Getting to know each other • • Learning Outcomes Teaching & Learning Methods • • • • Assessment Methods Content Synopsis Concepts of Marketing Management Questions & Clarifications L1 Module Introduction & Concepts of Marketing Management L1-2 Frankie Lim LEARNING OUTCOMES • Upon successful completion of this module, students will have demonstrated • Knowledge • K1. That they can interpret and evaluate the merits of particular marketing concepts when applied to selected business situations. • K2. That they can evaluate the potential impact of factors in the external environment on the marketing activities of organisations • K3. That they can understand the major decisions that organisations confront in satisfying market-place needs. • K4. That they can analyse the significance of marketing planning in organisations. • Skills • S1. How to conduct research using relevant marketing journals and business documentation Frankie Lim L1 Module Introduction & Concepts of Marketing Management L1-3 TEACHING AND LEARNING METHODS • Directed reading will provide students with an insight into the relevant theories and concepts underpinning...
Words: 1308 - Pages: 6
