...percentage of sales and profits come from new products (> 30% avg) * The process is extremely difficult * Companies take big risks * Failure rate is quite high (40% avg) * It is fun and exciting! A product can be tangible = Goods A product can be intangible = Services B2B =Business to Business BSC =Consumer Products * New product process does not usually start with a new product idea: it begins with an amount of Strategy * Marketing does not start when the procut is finished: it often starts before ideation * The process is not over when the product is launched=It ends when the new products is successful * Very few are taken to launch and only a small fraction succeed: high risks! * Most new ideas are epresed as lie extensions of existing brands= Parent Brands awareness+values * Most new ideas....are not that new: what’s new for you may not be new for consumers Opportunity An opportunity is a business or technology gap that a company or individual realizes that exists between the current situation and an envisioned future in ordert o capture competitive advantage, respond to a threat, solve a problem or ameliorate a difficulty A Strategy: It is necessary, because it ist he foundation for a new product management A new product development Team: a company within the company, they do everything the company as a whole would do A strategic planning: In ordert o profit from an opportunity, the new product development team...
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...MKT10007 FUNDAMENTALS OF MARKETING ASSIGNMENT TEMPLATE Instructions for using this template: You can’t rely solely on this document when completing your assignment. You will need to also: * Check the Assessment Criteria / Breakdown of marks. * Study the learning materials closely. Make sure you apply what you learn to this report. * Search for good sources using the Library and cite them throughout the report to support your explanations. Before submitting your assignment * Delete this page * Delete all red text * Replace highlighted text with your own words Before submitting your assignment * Delete this page * Delete all red text * Replace highlighted text with your own words Notes: * It is not compulsory to use the format of this template – it is provided to help those who are new to this type of document. * This document is not intended to serve as an ideal format for all reports – always check specific assignment requirements. Include an assessment coversheet at the front of every assessment submitted. Please ensure that all sections are completed correctly before submission. | MKT10007 ASSIGNMENT COVER SHEET | DETAILS OF ASSIGNMENT | | STUDENT NAME: | ID: | | | UNIT CODE * NAME | MKT10007 Fundamentals of Marketing | ASSESSMENT TITLE /TOPIC | | TUTOR’S NAME: | | DATE OF SUBMISSION: | | | | DECLARATION | | Enter Y / N | I declare that:(the first four boxes must be completed...
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...communicate w. eo * Not all marketing transactions involve exchange of money. Nonprofits use ads to bring in more donations Value: how customer views benefits of a product or service weighed against the cost of buying and cosuming it * Benefits can be functional, experiential, &/or psychological Marketing mix- Product, Place, Price, Promotion Integrated Marketing Communication (IMC)- coordinating various promotional elements and other marketing activities that communicate w/ the firms customers. Marketing Revolution: * Shifting of marketing expendistures from traditional media advertsing to other forms of promotion, and nontraditional media * Rapid growth of the internet and social media that’s changing the nature of how companies do business and the ways they communicate and interact with customers * Shift in marketplace power from manufacturers to retailers * Growth and development of database marketing * Demand for greater accountability from advertising agencies and changes in the way agencies and marketing communication firms are paid Brand identity: combination of logo, symbols, design, packaging, and performance of a product or service as well as the image or association that comes to consumers mind when they think about the...
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...friendship and trust is at the heart of the Nokia brand. And the human dimension created by the brand personality carries over into the positioning strategy for the brand. Nokia Positioning When Nokia positions its brand in the crowded mobile phone marketplace, its message must clearly bring together the technology and human side of its offer in a powerful way. The specific message that is conveyed to consumers in every advertisement and market communication (though not necessarily in these words) is "Only Nokia Human Technolgy enables you to get more out of life" In many cases, this is represented by the tag line, "We call this human technology". This gives consumers a sense of trust and consideration by the company, as though to say that Nokia understand what they want in life, and how it can help. And it knows that technology is really only an enabler so that you-the customer-can enjoy a better life. Nokia thus uses a combination of aspirational, benefit-based, emotional features, and competition-driven positioning strategies. It owns the "human" dimension of mobile communications, leaving its competitors wondering what to own (or how to position themselves), having taken the best position for itself. Nokia Product Design Nokia is a great brand because it knows that the essence of the brand needs to be reflected in everything the company does, especially those that impact the consumer. Product design is clearly critical to the success of the brand, but how does Nokia manage...
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...|[p|Strategic Analysis Model | |ic|Strategic Analysis includes the following: | |] |Industry Analysis | | |Strategy Description | | |Strategy Evaluation | | |Strategic Issues | | |Strategic Recommendations | | |Copyright 1996-2001 by Dr. William R. Boulton. | | |Understanding the Strategic Analysis Model | | |As shown in the following exhibits, strategic business analysis includes (1) industry analysis, (2) business...
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...evaluation and recommendations. Industry analysis begins with a definition of products and markets, skills and competitors contained within the industry, followed by industry structural analysis, and concluded with the identification of the key success factors for the industry. Business strategy analysis begins with a description of the strategic goals and business strategy of the firm. It's implementation is then analyzed in terms of the firm's functional and operational capabilities and the resulting financial and competitive performance. Strategic evaluation or SWOT analysis encompasses the internal and external factors that affect the company's business strategy. The business strategy is compared against the industry's key success factors and competitive resource requirements and the firm's internal capabilities and resources. Critical issues & Recommendations seek to identify the critical issues that the company needs to address. The analysis concludes with recommendations that address the critical issues and result in changes of product-market strategy or functional implementation. Industry Analysis The course is based on the ability of students to define their business, conduct an effective industry analysis, and identify the "key success factory" for firms competing in the industry. Such industry analysis is based on: A. DEFINE THE BUSINESS. The boundary for industry analysis is the markets and products that describe...
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...ZARA - zara owned by inditex; posted net income eur340m on revs eur3.250m in 2001 - inditex ipo may 2001; oversubscribed; stock increased by over 50% - 76% of equity value implied stock price was based on future growth expectations (higher than an estimated 69% for WMT) - global apparel chain; buyer driven global chain - branded marketers and manufacturers served as brokers in linking overseas factories with markets - production; very fragmented (individual apparel firms on avg employed a few dozen ppl) - about 30% of apparel production was exported (developing countries had very large share, nearly 50% of all exports)...cheaper labor + inputs - proximity also important bc it reduced shipping costs - china was export powerhouse but greater regionalization in 90s led turkey, north africa, eastern euro countries to be major suppliers to US - MFA (multi fiber arrangement) regulated apparel and textile industry (restricted imports of US, canada, west europe since 1974); agreement to phase out quota system by 2005 and further reduce tariffs (avg 7-9% in major markets) - cross border intermediation; trading co's played primary role in orchestrating physical flows of apparel btwn exporters and importers - retail; large retail played leading role in promoting QR (quick response); targeted at improving coordination between retailing and manufacturing (increase speed and flexibility of responses to market shifts) - QR led to significant compression of cycle times enabled by...
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...A. EXECUTIVE SUMMARY Page 2 B. INTRODUCTION a. COUNTRY OVERVIEW Page 3 b. INDUSTRY ANALYSIS Page 4 C. SITUATION ANALYSIS c. COMPANY ANALYSIS Page 5 d. MACRO ENVIRONMENT ANALYSIS Page 6 e. COMPETITIOR & INDUSTRY ANALYSIS Page 10 f. CUSTOMER ENVIRONMENT Page 15 D. STRATEGY FORMULATION g. THREATS OPPORTUNITY WEAKNESS STRENGTH ANALYSIS (TOWS) Page 17 h. PROBLEM STATEMENTS & POTENTIAL CHALLENGES FACED Page 18 E. INTERNATION ENTRY SELECTION Page 19 F. OVERACHING STRATEGY SELECTION Page 20 G. MARKETING MIX PROGRAMME DEVELOPMENT Page 23 i. PRODUCT j. PRICE k. PLACE l. PROMOTION H. IMPLEMENTATION & CONTROL m. RECOMMENDATIONS & CONCLUSION Page 27 References & Appendix Page 28 A. EXECUTIVE SUMMARY Any business which sets its eye on the Indian market understood the fact that selling its product in such a big country is not easy. China, India, Brazil, these emerging marketing are constantly being target as business people alike know that these market are extremely attractive. The fact that wine growth rate was at 20% annually, India in its own way became an attractive market for Wine producers and exporters. Opportunity thrives throughout urban cities of India, Mumbai, New Delhi and Banglore. However, risk such as government protectionism regime of alcohol...
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...Marketing Final Project Team 1 Ryan Marshall, Manuela Antonova, and Joshua Booth Mr. Coffee Smart Optimal Brew WeMo Enabled Marketing Plan Executive Summary A recent primary research survey has found that 70% of occasional coffee drinkers view the Mr. Coffee brand as an inferior or budget coffee brewing device that does not make a superior cup of coffee (Appendix, Opinion survey). Brands such as Keurig, Cuisinart, and DeLonghi inspire more thoughts of quality coffee than Mr. Coffee. Other consumers are opting to spend several dollars per cup of coffee at coffee houses such as Starbucks, Caribou Coffee, Dunkin Donuts, and even McDonalds (Appendix, Opinion survey). Mr. Coffee is a part of American iconography appearing in movies, books, and other arenas of pop culture. It appeared in loosely translated interpretations in the Back to the Future movie trilogy of the as 1980’s as “Mr. Fusion”, it was referenced in the TV show Seinfield, and in the title of the short story by Raymond Carver, “Mr. Coffee and Mr. Fixit.” According to a recently conducted survey Mr. Coffee was the most identifiable home coffee brewer. Brand recognition is not a problem in the current marketing environment. Mr. Coffee has many entries into the home coffee making market. Most of the devices are on the lower end of the price scale and easily obtained at every local big box store. These devices are sold alongside similar devices presented by direct competitors with very little differentiation. Recent...
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...research survey Thank you all! Table of Contents 1. INTRODUCTION - 7 - Introduction - 7 - Need of study - 7 - Target Audience - 8 - 2. Research methodology - 8 - Introduction - 8 - Research Questions - 8 - Research Methodology - 9 - Sampling Design - 9 - Target Population - 9 - Sampling Frame - 9 - Sampling Technique - 9 - Sample Size - 10 - Research Instrument - 10 - Association Technique - 10 - Construction Technique - 10 - Procedure - 10 - Data collection and screening procedure - 10 - Data Entryc………………………………………………………………………...…_10_ 3. Brand Audit Report……………………………………………………………………..-11- Introduction……………………………………………………………………………-11- Brand…………………………………………………………………………………..-11- Competitior Analysis……………………………………………………………………-12- Criteria…………………………………………………………………………………..-13- Brand inventory…………………………………………………………………………-15- Brand Portfolio…………………………………………………………………………...-16 Exploratory research……………………………………………………………………-17- Consumer Perception...
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...products very highly as the feedback from customers are the most important. As a socially responsible company they aim to nourish their consumers, employees, customers, communities and the environment so that they can continue as a company. Kellogg’s have created strategies, governance structures, corporate policies, commitment statements and codes of conduct that help to embed corporate responsibility into their everyday operations. To encourage people to speak their opinions Special K set up a shop in London with the release of their new cracker crisps. When people tweeted their opinion they were able to receive a free low calorie snack. DietsInReview.com release reviews, facts and information about the Special K diet. And in the end they say if you want to ‘jump start the weight loss’ then it’s a good idea. Then with in this website Special K users were able to leave their feedback which had a range of opinions saying how good the diet plan was and how well it worked. Over all they were ‘happy with the outcome’. The main discussion also included the fact that ‘it doesn’t help you lose weight but it does help you stay healthy’, anomalously said someone from dietsinreview.com. Kellogg's (also Kellogg, Kellogg Company and Kellogg's of Battle Creek) is an American multinational food manufacturing company headquartered in Battle Creek, Michigan, United States. Kellogg’s as a company in 2014 had a...
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...UNIVERSITI TEKNOLOGI MARA, SHAH ALAM FACULTY OF BUSINESS MANAGEMENT MASTERS OF BUSINESS ASMINISTRATION (BM 770) MANAGERIAL ACCOUNTING (ACC 770) INDIVIDUAL ASSIGNMENT: CONTEMPORARY MANAGERIAL ACCOUNTING (CONCENTRATION AREA: TOTAL QUALITY MANAGEMENT) PREPARED BY: STUDENT ID.: PREPARED FOR: NURWAHIDA BT. MOHD. YAAKUB 2009782101 DR. AZIZAH BT. ABDULLAH SUBMISSOION DATE: 10 FEBRUARY 2010 Table of Contents Contents Chapter One: Introduction to Contemporary Managerial Accounting Concepts 1. 2. Value Chain a. Just in Time (JIT) b. Total Quality Management (TQM) c. Theory of Constraints 3. 4. 5. 6. 7. 8. 9. Target Costing Kaizen Costing Life Cycle Costing (LCC) Pricing Methods Uses and Limitations of Cost-Based and Market-Based Pricing Factors Affecting Prices Pricing Models for Not-for-Profit Organizations 3 4 5 5 6 7 8 9 10 11 11 Page Chapter Two: Total Quality Management (TQM) – an Introduction and Its Applications Chapter Three: Conclusion Appendix 1: References 12 23 CHAPTER ONE: INTRODUCTION TO CONTEMPORARY MANAGERIAL ACCOUNTING CONCEPTS Over the years, the managerial accounting practices had evolved. From the traditional costing method, many firms now have adopted the contemporary managerial practices to achieve better product costing and manufacturing processes. There are many contemporary managerial accounting in practice, some of them being Value Chain, Just-In-Time (JIT) Manufacturing, Total Quality Management (TQM) and the Theory of Constraints...
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... Starbucks Corporation is an American global coffee company. It is the largest coffeehouse chain in the world, with 19,972 stores in 60 countries which headquarters based in Seattle, Washington. Starbucks is named after the first mate in Herman’s Moby Dick. It was founded on March 30th in 1971 by Gerald Baldwin, Gordon Bowker and Zev Siegl. And the Starbucks’ CEO is Howard Schultz nowadays. The company’s logo is also inspired by the sea-featuring a twin-tailed siren from Greek mythology. Until 2012, the company has an annual turnover of ＄13.29billion. Initially, Starbuck only sells high-quality bean coffee, drinks, salads, sandwiches and baked food through their company-operated retail stores, with the rapidly development of Starbuck, the company also offered bottled beverages in locality stores and grocery stores. In 1991, Starbucks established a relationship with CARE an international humanitarian organization and establishes a line of premium ice creams and offers a line of premium teas in the market, which was the beginning of the company’s international expansion effort. In 1992, Starbucks successfully listed. And in the later several years, this company has already acquired some small business. Then, Starbucks begin to expand its global marketing. The Company’s objective is to establish Starbucks as the most recognized and respected brand in the world. In realizing and achieving this goal, the Company plans to continue to rapidly expand its retail operations...
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...A PROJECT REPORT ON STRATEGIC MANAGEMENT. SUBMITTED TO : NIILM-CMS SUBMITTED BY: SIDDHARTH ATMARAMANI PGDM (2010-2012) ROLL NO. 2010169 UNDER THE GUIDIANCE OF: MS.RITU SRIVASTAVA ANSWER 3 : OPERATIONAL EFFICIENCY OR STRATEGY For a company to be successful it is required for it to be flexible enough to adapt to the changing economic conditions. They must outbeat their own benchmarks continuously to achieve best practices. For example regarding axis bank : Profit after tax up 34.76% to `3,388.49 crores Net interest income up 31.14% to `6,562.99 crores Fee & other income up 32.39% to `4,135.16 crores Deposits up 33.93% to `189,237.80 crores Demand deposits up 17.78% to `77,767.40 crores Advances up 36.48% to `142,407.83 crores Retail assets up 33.32% to `27,759.23 crores Network of branches and extension counters increased from 983 to 1,390 Total number of atms went up from 4,293 to 6,270 Net npa ratio as a percentage of net customer assets down to 0.26% from 0.36% Earnings per share (basic) increased from `65.78 to `82.95 Proposed dividend up from 120% to 140% Capital adequacy ratio stood at 12.65% as against the minimum regulatory norm of 9% And also they must nurture a few core competencies to stay ahead of rivals. Eg. Rivals can quickly copy any market position and competitive advantage is at best temporary. For example, in the banking industry if any bank comes up with a new product or scheme or merges up with other or introduces cost cutting approaches...
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...The current issue and full text archive of this journal is available at www.emeraldinsight.com/0265-1335.htm IMR 24,1 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...
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