...Marketing Challenges in a New Economy There is a new trend in today’s economy that does not involve large chain suppliers, retailers or wholesalers. This new trend involves companies that allow owners to rent out their physical assets to increase their income. This new business practice puts the producer directly in contact with the consumer to conduct business. This new trend in the consumer marketplace is known as the share economy. This paper will discuss how this new concept of the share economy has had an effect on the traditional economy and whether the shared economy is creating new value for the consumer or if it is just replacing existing business. The share economy concept involves individuals renting out their physical assets. For example, an individual who is looking to increase their monthly income has the option to increase their income by renting out their home. Another example would be an individual who rents out their car, which would otherwise be unused in their driveway. According to Geron (2013) Forbes estimates that this new economy will generate revenue into people’s wallets that will surpass $3.5 billion this year, with growth exceeding twenty-five percent. This new share economy has been able to grow at a very successful rate and has impacted a stagnant wage market into a disruptive economic force (Geron, 2013, para 9). One element that has helped to drive the share economy is technology. Technology has helped in improving the connection between buyers...
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...MARKETING MANAGEMENT II REPORT ON “MARKETING CHALLENGES OF INDIA” Submitted to Prof.-S. Anant Ram Submitted bySayona Maitra (2012287) Shafique Gajdhar(2012289) Satakshi Rani(2012276) Shubham Saxena(2012303) Suneet Shome(2012315) Sunil Gupta(2012316) Word Count 6909 Page Count 46 Group no. 8 1 Contents The marketing challenges in India can be 1. Cultural diversity: 2. Differences in purchasing power of consumers in India 3. The layer of Westernization 4. Considering the psychographics and cultural nuances of consumer segments: 5. Retailing complexities6. Indian consumers reflect a range of behaviors: 7. Consistent brand association in midst of price war 8. Penetration levels of branded offerings among consumers are extremely low (5) (6) (7) (8) (9) (10) (11) (12) 9. Symbolism is reflected across product categories (symbolizing status or emotions) can be found in several product categories in today's context. It is a challenge for marketers to achieve symbolism for their products in India. (14) 10. The challenge for marketers is to ensure a judicious mix of traditional values and contemporary thinking for such segments. (16) 11. The presence of unorganized sector in several categories has created challenges to marketers at the lower price ranges. (18) 12. illegal duplicates prevalent mainly in Rural and Semi rural markets pose a threat to reputation of the company. 13. High degree of price sensitivity is a strong cultural trait in the Indian mass market...
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...Welcome to the Google Online Marketing Challenge The Google Online Marketing Challenge is an exciting opportunity for students to experience and create online marketing campaigns using Google AdWords and Google+. Over 50,000 students and professors from almost 100 countries have participated in the past 5 years. With a $250 budget provided by Google, students develop and run an online advertising campaign for a business or non-profit organization over a three week period. The teams that develop and communicate the most successful campaigns win awesome prizes, including a trip to Google for the students and their professor. Students also have the opportunity to participate in the optional Google+ Social Media Marketing Award by maintaining a Google+ Page for their clients over a six week period. The Challenge is open to student teams of three to six members, regardless of their majors. All students must register under a verified professor/instructor at a higher education institution. Visit Discover GOMC to learn more about the Challenge and how to participate. Be sure to follow us on our Google+ page for the latest updates and announcements throughout the year Competition Process For more details on each of the steps, please refer to the sections on the left side of this page. Step 1: Register for the Challenge. Professors register for the Challenge and are verified by Google. Students form teams of 3-6 members and appoint a team campaign. The team captain then registers...
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...Prince Sports: Challenges in The Marketing Environment Brittany Pimpinella Empire State College Abstract Prince Global Sports started out as an unintentional creation of an oversized tennis racquet that Howard Head created all because the thought of simply larger tennis racquet because the game of tennis was too complex to him. His creation launched a money making company later to be known as Prince Sports INC. This company had grown so much they expanded into the footwear, tennis gear, running gear, accessories, sports bags and many more products that had competitors leaving the market. Prince had learned that creating items and selling them wasn't as easy as it was thought out to be, the constant struggle of needing newer product, better marketing skills, and finding loyal consumers were all challenges he faced. Luckily, Prince’s marketing team was able to reach out to the right consumers that had that annual making 64 million in revenue, but only for so long. Prince Sports: Challenges in The Marketing Environment All type of businesses face unique challenges. It is almost impossible to start launch a business correctly without time, effort, and dedication. A business is not built in a day neither is the workers nor product. Most business owners just have the desire to own a business not the drive to do so. They must find a way to start their business off right, by gathering their thoughts. Buying a franchise, an existing business, or looking to others for...
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...Ethical Challenge Integrated Marketing Communications Paper For By Integrated Marketing Communications This paper is a review of the ethical and social responsibility that General Electric (GE) faces regarding New York’s Hudson River. The paper will also detail ethical challenges and efforts taken by GE to address, inform, and relate its standing on the Hudson River topic. Also covered will be the influence of external and internal factors on GE’s IMC as well as reviewing the role of research in the process. Lastly, two ethical questions will be prepared based on the paper. Ethics is defined as “the principles that serve as operational guidelines for both individuals and organizations” (Baack & Clow, 2002, p. 33). In upper New York state GE has a capacitor and arrestor factory located in the city of Fort Edward. GE manufactures electrical distribution and control equipment including capacitors and arresters that used polychlorinated biphenyls (PCBs) as a coolant. For 50 years, the manufacture, sale, use and discharge of PCBs were legal in the United States. More than one billion pounds of PCBs were produced and sold. PCBs were considered a “miracle” chemical because they would not burn and were widely used in electrical equipment installed in wooden factories and school buildings where fire was a constant threat. In fact, some city codes and some insurance companies required the use of PCB-type transformers and capacitors. A description of polychlorinated...
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...CweNovember, 11th, 2013 MCA B2000 AWARENESS, RESEARCH & MEASUREMENT Instructor: Belle Frank Celebrity endorsement: a challenge in marketing communications The case of the “100 Years Skincare for Life” campaign of Nivea Submitted by Jacques Epangue BIC Class of 2015 Introduction The reputation of a brand is a key element of its relationship with its consumers. A strong brand reputation and positioning is built on both the brand identity and the brand image, which is the consumer’s perception of the brand. In fact, two thirds of consumers adopt a brand because they feel like they are connected to its image or its identity. Brand identity is what the brand truly represents, the tangible and intangible values that make a brand distinguishable from other brands. Therefore, the challenge of the brand is to preserve its identity while keeping up with marketing trends and strategies. The history of advertising has seen many controversial campaigns, to say the least, in which the brand has kept itself away from its identity involving its reputation. In 2011, Nivea cream-maker of the German firm Beiersdorf and largest skincare brand in the world, along with its business partner, global marketing communications agency Draftfcb rolled out a global campaign entitled “100 Years Skincare for Life” signing up international singing star Rihanna to be the voice of its 100 year celebrations, and the song “California King Bed” accompanied the whole anniversary campaign internationally...
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...WHICH OIL IS RIGHT FOR YOU? MotorOilMatters.org API’s Certification Mark and Service Symbol identify quality motor oils for gasolineand diesel-powered vehicles. Oils displaying these marks meet performance requirements set by U.S. and international vehicle and engine manufacturers and the lubricant industry. More than 500 companies worldwide participate in this voluntary program, which is backed by a marketplace sampling and testing program. GET MORE FROM YOUR MOTOR OIL. Follow your vehicle manufacturer’s oil change recommendations. This includes using recommended SAE oil viscosity and ILSAC or API performance standard. If you find it necessary to mix brands of oil, use same viscosity grade and API service category to maintain performance. Properly dispose of used oil. Learn more about recycling used oil at www.recycleoil.org. Go to www.earth911.com/ recycling/used-motor-oiland-filters for used oil collection center locations. The API Certification Mark, also known as the “Starburst” An oil displaying this mark meets the current engine protection standard and fuel economy requirements of the International Lubricant Specification Advisory Committee (ILSAC), a joint effort of U.S. and Japanese automobile manufacturers. Automobile manufacturers recommend oils that carry the API Certification Mark. See the ILSAC STANDARD FOR PASSENGER CAR ENGINE OILS chart on the next page for descriptions of current and obsolete ILSAC standards. ® The API Service Symbol, also known...
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...Marketing Research Professional Challenge Executive Summary Research Objectives The Vancouver Symphony Orchestra conducted a survey to understand what musical selections would increase ticket sales. VSO management conducted the survey at a free concert. 656 out of 2,400 people responded. Goals Determine the musical preferences of non-subscribers and subscribers. Findings Musical Preferences of Subscribers & Non-subscribers (see Appendix A): Classical, twentieth century, pops or Canadian. The ratings for “choice of music appealed to me” increased by 17% from the first survey to the second. The survey did not ask what music the VSO doesn’t offer but attendees want to hear. Being able to hear classical music performed live and international performers was rated as most important by both groups. The purpose of the study is to determine what musical selections subscribers and non-subscribers want to hear in order to increase ticket sales. Survey results yielded no information as to what music preferences would increase ticket sales. But, findings initially indicated that the VSO should focus on ticket prices to increase ticket sales. For example, a cross tabulation of eight pairs of events (characterized by reputation of performer, seating arrangements, and single tickets prices) and subscriber information showed a preference for ticket prices between the range of $8 and $14 for both subscribers and non-subscribers. The original survey indicated consumers...
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...sales and marketing challenges in the global hospitality industry Author: Rishi, Meghna; Gaur, Sanjaya S Abstract: Purpose - This paper attempts to identify the emerging themes that can shed light on the sales and marketing issues and challenges being faced by global hospitality organizations. Design/methodology/approach - The paper utilizes a multi-method approach for data collection. A thorough literature review, a focus group and personal interviews were conducted to explore the themes and construct a tentative thematic web. Publicly accessible secondary data in the form of customer reviews were drawn from world's leading web site - Tripadvisor.com. A total of 702 reviews of the customers of luxury hotels from the world's top two tourist destinations - France and USA - were analyzed, using thematic analysis. Customers' perspective is juxtaposed with industry's perspective to offer insights on the sales and marketing issues and challenges being faced by hospitality organizations globally. Findings - Marketing challenges, namely personalization/customization of services, service management, creating a strong parent brand, under-utilization of the social media and diverting tourists from heritage properties, are identified as some of the key emerging sales and marketing issues and challenges faced by the global hospitality industry. Practical implications - Analytically identified themes in this research paper provide valuable insights on issues and challenges related to...
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...The overall benefits, challenges and opportunities to new businesses using internet marketing Task 1 Access * More frequent individualization and communications to build relationships The main benefits and opportunities of using the above are as follows. When you have a customer’s information you can work out what they might like. With this information you can send them relevant product information and special offers instead of sending everyone the same e-mails which they might get sick of and completely disregard or even choose a different business. Using the information correctly will build a relationship with the customer which in turn will build customer loyalty which is a very important benefit considering the amount of competition. Amazon is good example of a business using customer information correctly and individualization for customer relations. They build relationships with customers by monitoring and collecting a customer’s purchase history and sending out personalized advertisements via e-mail, social media and as soon as a customer logs in tin the website. This makes it more personal. * Use of communications to promote e.g. Special offers, product launches The main benefits and opportunities of using the above are as follows. The use of online communications can save a lot of money in advertising new products and offers which if it is not done online then it would need to be done using leaflets and flyers which need to be delivered as well, which...
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...JoinSearchBrowseSaved Papers Home Page » Business and Management Evaluate the Opportunities and Threats Faced by Companies Marketing to Children. in Your Answer Provide Examples of How Firms Are Responding to These Challenges and Opportunities in Their Marketing Strategies. In: Business and Management Evaluate the Opportunities and Threats Faced by Companies Marketing to Children. in Your Answer Provide Examples of How Firms Are Responding to These Challenges and Opportunities in Their Marketing Strategies. Introduction Children form a significant consumer group in their own right and, in addition, influence the purchasing choices of their families and friends. They represent a huge market offering significant financial returns to companies. Children are also the adults of the future so building a strong bond with a child could lead to significant customer lifetime value to a company. However there are inherent risks in marketing to children bound up in the fact that many feel that it is intrinsically unethical to market to children. As a result of this, companies that market to children and get it wrong face a moralistic and significantly stronger backlash. Applying a PESTLE analysis highlights the external factors companies that market to children face; Political - Changes in government and legislation affect ways in which companies can approach marketing for children and young people. In December 2003, the British Secretary of State for Culture, Media and Sport, Tessa...
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...bond with a child could lead to significant customer lifetime value to a company. However there are inherent risks in marketing to children bound up in the fact that many feel that it is intrinsically unethical to market to children. As a result of this, companies that market to children and get it wrong face a moralistic and significantly stronger backlash. Applying a PESTLE analysis highlights the external factors companies that market to children face; Political - Changes in government and legislation affect ways in which companies can approach marketing for children and young people. In December 2003, the British Secretary of State for Culture, Media and Sport, Tessa Jowell MP, asked the British Office of Communications (OFCOM) to consider proposals for strengthening the rules on television advertising of food aimed at children, with new restrictions put in place in 2007. Economic - In the US, companies are estimated to spend $17billion a year marketing to children, (1) an increase from the $100 million spent in 1983. (2) A de facto recognition of the great economic value children represent. Social – Marketing to children and young people has become a topic for debate. Societal attitudes regarding this are strong. Campaigns lobbying governments are high profile and regularly call for changes and greater regulation. Technological – Changes in marketing methods through technological innovations are making access to children easier and without the same restrictions of...
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...Integrated Marketing Communications Plan | [Company name] | | | | | Product name: | Click here to enter text. | Prepared by: | Click here to enter text. | Modified date: | 9/18/2008 | | | Table of Contents 1 Executive Overview 4 1.1 Scope of this Integrated Marketing Communications Plan 4 1.1.1 Marketing Objectives 4 1.2 Communications Objectives 4 1.3 Communications Strategies 4 1.4 Issues and Challenges 4 2 Situational Analysis 4 2.1 Product History 4 2.1.1 Product background 4 2.1.2 Current problems facing product 4 2.1.3 Past integrated marketing communications oR advertising themes 4 2.1.4 Past integrated marketing communications budgets 4 2.1.5 Past to present media spending 4 2.1.6 Current messaging 4 2.1.7 Customer trends 4 2.2 Current Marketing Situation 4 3 Target Audiences 4 3.1 Target Audience 4 3.2 Key Evaluation Criteria 4 3.3 Target Audience Profiles 4 3.3.1 Customer Profiles 4 3.3.2 Industry Analysts and Publications 4 4 Competition 4 4.1 Product Comparison 4 4.2 Barriers to Entry 4 4.3 Competitor Differentiation 4 4.4 Key Competitor Net Impressions and Messages 4 5 Branding and Messaging 4 5.1 Branding Architecture 4 5.2 Positioning Statement 4 5.3 Value Propositions 4 5.4 Major Messages 4 5.4.1 Major Messages for Customers 4 6 Communications Vehicles 4 6.1 Communications Process and Vehicles for Customers 4 7 Tactical Calendar 4 8 Budget 4 9 Metrics 4 ...
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...Title: Strategic Marketing Assignment Topic You have been provided with a case study of NIKE (see Appendix 1). In your case report, identify three or four Marketing Challenges covered in this subject and address how those challenges can be met using the principles developed in this subject. Please ensure to use academic in-text references adequately to support your suggestions. Report writing format should be used. Word count: 2582 Executive Summary In this report, Nike’s case will be studied with reference to the marketing challenges the company has faced. The methods regarding overcoming those challenges will also be studied in this case. Nike has grown from selling shoes from a car boot in 1964 to one of the world’s bestselling sports shoe brands by 1974. Once the brand was established as bestselling, there were marketing challenges to overcome. Some of those marketing challenges faced by the company will be discussed in this report. The first challenge is the perceptions of people that Nike shoes are produced by low paid labor that have to work in poor conditions to get paid. The second marketing challenge faced by Nike is that initially the celebrity endorsement worked wonders for Nike, but since the 1990s, star selection has been less than perfect. Another marketing challenge faced by Nike is that with the change in generation, the company was not able to carry forward its image of best sports shoes brand. The issue at hand is that the company must find ways...
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...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 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...
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