...solving Marketing assignment and Marketing homework is to lucidly explain the concepts involved as well as how to apply these to practical problems. HwA’s expertise in MarketingManagement Assignment solving spans various streams such as 5 C's of marketing - company, collaborators, customers, competitors, and climate Market Segmentation Target Market Selection Market Analysis – involving market sizing, drivers, restraints, trends, distribution channel, etc. 4P’s of Marketing Brand Equity Pricing Strategy Product life cycle Business Marketing Customer Lifetime Value Customer Relationship Management Marketing Orientation Integrated marketing communication Our highly qualified, professional and skilled team members can provide you help with complex marketing case study, report writing, essay writing, research paper, term paper, dissertation involving multiple disciplines and concepts, research proposal writing, presentation in areas like brand equity, marketing mix, etc. The HWA team has highly qualified tutors with many years of industry experience. The team has helped a number of students pursuing education through regular and online universities, institutes or online MBA, MA, or BA Programs. What is Marketing Management? Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. Marketing is a business function which deals with customers. Every...
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...Chapter 1: Creating and Capturing Customer Value Marketing: creating value for customers and building strong relationships to capture from customers in return - All about managing profitable customer relationships (satisfying customer needs) Core Customer and Marketplace Concepts 1. Needs wants and demands * Needs: states of felt deprivation * Wants: the form human needs take as shaped by culture and individual personality * Demands: human wants that are backed by buying power 2. Market offerings – products, services, info or experiences offered to satisfy a market need * Marketing myopia: mistake of paying more attention to the products itself than to the benefits and experiences produced by these products (brand experience) 3. Value and satisfaction – must set smart and realistic product expectations for customers 4. Exchanges and relationships – the act of obtaining a desired object from someone by offering something in return 5. Markets – the set of all actual and potential buyers of a product or service Marketing Process 1. Understand the marketplace and customer needs and wants 2. Design a customer-driven marketing strategy 3. Construct an integrated marketing program that delivers superior value 4. Build profitable relationships and create customer delight 5. Capture value from customers to create profits and customer equity Marketing Management: choosing target markets and building relationships with them ...
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...What is Marketing? Fundamentals of Marketing Management Process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Dr. P.V. (Sundar) Balakrishnan Simply put: Marketing is the delivery of customer satisfaction at a profit. Managing World-Class Organizations S #1 Balakrishnan The Marketing Objective Activities in the Marketing Process ... “Satisfy the needs of a group of customers better than the competition.” Distinguish from Selling or Advertising: – merely a subset of marketing actions used to satisfy consumer needs. Marketing focuses on the use of all the firm’s controllable influences to satisfy the customer. S #3 Balakrishnan S #2 Balakrishnan Broad Objective of Marketing Identify needs of customers that company can satisfy Design a Product (“bundle of benefits”) that satisfies those needs - better than existing products. Promote / communicate these benefits in order to motivate purchase Price at the right level so that consumers are willing & able to buy the product and the firm’s profit goals are met Make the product available at the right Place so that exchange is facilitated S #4 Balakrishnan Core Marketing Concepts To grow the business by adapting it to changes in the environment : by monitoring Needs, wants, and demands changes in customer needs changes in competition changes in the company’s own skills...
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...Marketing is the process of communicating the value of a product or service to customers. Marketing might sometimes be interpreted as the art of selling products, but selling is only a small fraction of marketing. As the term "Marketing" may replace "Advertising" it is the overall strategy and function of promoting a product or service to the customer. The American Marketing Association defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."[1] From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. The process of communicating the value of a product or service through positioning to customers. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and managing customer relationships in ways that benefit the organization and its shareholders. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer buying behavior and providing superior customer value. There are five competing concepts under which organizations can choose to operate their business; the production concept, the product...
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...What is marketing? Including a short discussion of: (a) Why marketing is an important function within organisations; (b) The core concept of marketing; (c) The major marketing activities of an organisation. In our daily life, it is easy to see that tradesmen sell simple and tangible goods such as soap and shampoo, as well as luxury product such as LV handbags. Where there is a transaction, there is a marketing. Many people think of marketing only as selling and advertising, while selling and advertising are only the tip of the marketing iceberg. In general, working in services such as hairdressing, airlines, hospitality, or even education can also be considered as a marketing. Since marketing is an essential part of our life, more and more people is likely to know its function. Within organisations, marketing is important in building customers relationship as well as creating product awareness. This essay will provide the definition of marketing and explore why marketing is an important function within organisations; then it will describe the major marketing activities of an organisation. The core concept of marketing is communicating the value of a product or service to customers. There are many alternative definitions of marketing given by different experts. Virtually, each particular explanation of the marketing reflects respective concerns of individual authors, while most have certain basic features in common. Kotler and Armstrong (2010) consider that Marketing is managing...
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...Marketing and the Marketing Process Marketing deals with customers more than any other business functions. Marketing is managing profitable customer relationships. Marketing has a twofold goal. They are to attract new customers by promising superior value, and keep and grow current customers by delivering satisfaction. The American Marketing Association defines marketing as “The Process of planning and executing the conception, pricing, promotion, and distribution of ideas, good, and services to create exchanges that satisfy individual and organizational objective”. The Marketing process is the method of evaluating openings, choosing the proposed customer, addressing the consumer needs and wants, describing the price, product, place and promotion and addressing the marketing campaign. The marketing process takes major responsibility to control overall marketing strategy. The marketing process has 5 steps that lead to a successful advertising campaign. In the first four steps, companies work to understand consumers, create customer value, and build strong customer relationships. In the final step, companies reap the reward of having superior customer value. Now, we will explore the steps of the marketing process. Step 1 is marketers need to understand the market place and the needs and wants of customers. There are five core customer and market place concepts. Needs, wants, and demands is one. Human needs are states of felt deprivation. Human wants are the form human needs...
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...Marketing Management Heather Fullen Aspen University: BUS530 December 7, 2015 Syllabus and Textbook Reflection I started this assignment first by reviewing the course syllabus and skimming the topics covered in the textbook. I also reviewed the table of contents and briefly glanced through the rest of the text book required for this course. Syllabus After reading and reviewing the course syllabus for BUS-530 Marketing Management, I am looking forward to what this course is going to offer and teach me as well as being able to apply it to my current and future professional goals. I believe this course will provide a substantial introduction to basic marketing functions that will be advantageous to my degree and career goals. There is a lot of information to cover in just 10 weeks, but the knowledge I gain and learn will become the foundation for my personal and professional career. Textbook The required text book for this course, Marketing Management, has important, helpful and a significant amount of information to lead the way of becoming successful in marketing management. The textbook appears to be set up in a way that will be helpful for students such as myself to learn different marketing theories. Concepts and theories can be difficult to use and how to apply them in real life professional experiences. Topics of Most Interest While reading and skimming through the textbook, I found several of the topics to be of interest to me. Most of the chapters throughout...
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...WHAT IS MARKETING? Marketing deals with customers. Marketing is the managing profitable customer relationshis. 2 fold goal of marketing - to attract new customers by promising superior value; -keep and grow current customers by delivering satisfaction Today, marketing must be understoodnot in the old sense of making a sale -"telling and selling"- but in the new sense of satisfying customer needs. If the market understands consumer needs; develops products that provide superior customer value; and prics, distribuites, and promote them effectively, there products will sell easily. Marketing: the process by which companies create value for customers and build strong customers relationships in order to capture value from customer relationships. 5 steps of marketing process: companies work to undersand consumer, create value and build trong relationships---> 1. understend the market place and customer need and wants. 2. design a customer-driven marketing strategy. 3. construct an integrated marketing program that delivers superiors value. 4. build profitable relationships and create custumer delight. capture value from customers in return---> 5. capture value from custumers to create profits and customer equity. 1. Understanding the marketplace and Customer needs. Custumer Needs, Wants and Demands. Needs: states of felt deprovation; 1. physical (food, clothing, warmth, safety); 2. social (belonging and affection); 3. individual (knowledge and selfespression) Wants: the form of human...
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...Chapter One: text notes Amazon- “obsessed over customer” * creating genuine value for customer: every decision is made with an eye toward improving Amazon.com cutomer experience. * Analyst predict by 2015 Amazon will become the youngest company in history to hit $100 billion in revenue ( walmart:34years). Nation’s second largest retailer. * customer experience bar raiser: representing customer’s voice * Kindle: first original product-> no.1 selling product * First company to use “ collaborative filtering” which sifts through each customer’s past purchase to make personalized content * Customer feel compelled to stay for a while- leaning, looking, discovering What is marketing * marketing is managing profitable customer relationship * “ the aim of marketing is to make selling unnecessary” * marketing is the process by which companies create value for customer and build strong customer relationships in order to capture value from customers in return understand the needs and want | design a customer driven marketing strategy | marketing program that deliver superior value | build profitable relationship and create customer delight | capture value from customers in return | Understanding market place and customer needs 5 core concepts 1. needs, want, and demands- an American needs food but wants a big Mac ( shaped by one’s society), when backed by buying power wants become demands a. Alan Mulally, CEO of...
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...BUAD479 Chapter Outlines: Chapter 1: * Marketing is an organizational function and a collection of processes designed to plan for, create, communicate, and deliver value to customers and to build effective customer relationships in ways that benefit the organization and its stakeholders * Marketing explained: * Distinct activity in an organization- marketing department * Set of tasks, such as assembling, pricing and promoting, which may or may not be performed by the department that results in products, services, ideas, ad other tangible and intangible items * These items produce profits or achieve stated goals for an organization * Profits achieved by creating value for customers * Creation of value- realization of the benefits that are at parity or that exceed the cost of products, services, etc. * Customers search for value on a daily basis when making buying decisions * Marketing has roots in economics, psychology, sociology, and statistics * Economics- borrowed the idea of utility- satisfaction received from owning or consuming a product or service * Value that consumers attach to the products * Supply and demand for products influence price, production costs influence supply, and utility influences demand * If consumers perceive that a product has utility-> inclined to consider purchasing it * Need- necessity to meet an urgent requirement * Want- desire...
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...The High Benefits Internet Marketing Framework through Customer Experienc Nai-Wen Kuo1 1 An-Yi Liu1 Graduate Institute of Information Management, Chinese Culture University (Eric and Ferry,2001 Riyad and Myfanwy, 2002 Roger, James and Ghada,2003 Kuo and Liu,2005 ) 1 Global reach The Internet helps business reach the whole world. 2 Real-time access The Web makes it possible for customers to interact immediately. 3 Information density The technology reduces information costs and raises quality. 4 Richness Multimedia and information can become vivid. Abstract This paper is intended to integrate Internet Marketing, Customer Experience, E-brand and Integrated Marketing Communications to develop a high benefits Internet Marketing Framework. This framework not only can combine marketing resources effectively, let enterprises obtain the greatest benefits; it also provides total consumer experience and increase customer satisfaction. On the other hand, this making a more successful customer relationship management and customer experience on internet marketing can be achieved. Furthermore, we make the application of internet marketing will be more extensive and convenient. Keywords: Internet Marketing, Customer Experience, E-brand, Integrated Marketing Communications. 3. Integrated Marketing Communications ntegrated Marketing Communications (IMC) is capable of enhancing the holistic consumer experience and creating a holistic brand value structure, which can unite the consumer’s...
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...Marketing comes in a wide variety of flavors based on audience, media platform and business in today’s evolving and dynamic marketplace. Therefore, it’s no surprise that marketers define what they do differently. Inspired by the31 PR Definitions article, here’s a roundup of seventy-two marketing definitions by experienced practitioners across different specialties. Marketing Definitions To start, here are explanations from the American Marketing Association (AMA), marketing’s professional organization, and Dr. Philip Kotler, the author of business school marketing classics. They’re followed by the other definitions in alphabetical order by author’s last name. 1. According to the American Marketing Association (AMA) Board of Directors, Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. 2. Dr. Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.” 3. Marketing is the messages and/or actions that cause messages and/or actions. Jay Baer – President...
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...CHAPTER OBJECTIVES 1. Define what marketing is and discuss its core concepts. 2. Explain the relationships between customer value, satisfaction, and quality. 3. Define marketing management and understand how marketers manage demand and build profitable customer relationships. 4. Compare the five marketing management philosophies. 5. Analyze the major challenges facing marketers headings into the next century. CHAPTER OVERVIEW Marketing is part of all of our lives and touches us in some way every day. To be successful each company that deals with customers on a daily basis must not only be customer-driven, but customer-obsessed. The best way to achieve this objective is to develop a sound marketing function within the organization. Marketing is defined as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Marketing is a key factor in business success. The marketing function not only deals with the production and distribution of products and services, but it also is concerned with the ethical and social responsibility functions found in the domestic and global environment. Marketing and its core concepts, the exchange relationship, a brief description of marketing management, the five major philosophies of marketing thought and practice, marketing challenges in the new millennium, marketing’s relationship to the information technology boom and...
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...Case Analysis Introduction Business-to-Business (B2B) marketing is fundamental in how successful a business is by concerning itself with the marketing of goods and services to customers. The nature of the customer, which is another organisation, is the key distinguishing feature between B2B and business-to-consumer (B2C). What should B2B marketing strive to achieve? In its most simple state B2B marketing should do, at the very least, two things. It should reduce the costs of doing business and enhance the relationship between trading companies by being more reliable, more accurate and more adaptable through the exchange of information. In trying to achieve these minimum requirements, if not more, B2B marketers face a variety of problems, these being the ability of identifying the customer, understanding the customer’s needs and creating value for the customer. In order to eliminate these problems four important concepts of B2B marketing can help the marketer. These are identifying customer value, segmentation, establishing and maintaining relationships within a network and the dimension of business ethics. The importance of these concepts can be divided into two main aspects. Firstly, we have the fundamentals of B2B marketing which are customer value and relationships, without these closely intertwined aspects there is no business as a company lacks, in simple terms, associations with customers and suppliers. Secondly, the strategy of an organisation...
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...156.331 Marketing Strategy Assignment One Plagiarism: Copying or paraphrasing of another person's work, be it published or unpublished, without clearly acknowledging it, will be deemed to be dishonest. Any candidate found guilty of plagiarism will be liable to the penalties listed in the Massey University Calendar. By submitting the assignment I acknowledge that: I have read the above statement and agree that my assignment conforms to Massey University’s plagiarism policy. Where I have made use of the ideas of other writers, I have acknowledged the source in every instance. This is an original assignment and entirely my own work. Market-driven organisations are able to provide their customers with superior customer value by classifying and matching the distinctive capabilities of their company to the customers’ needs. They have a management team that are fully committed, a supportive culture, and a decision making process that is kept as close to the customer as possible (Day, 1994). Becoming market oriented, determining distinctive capabilities, market sensing and customer linking, employing necessary organisational change and creating strategic relationships are all elements of a market-driven strategy (Cravens, Greenley, Piercy, & Slater, 1998; Day, 1994). The value for an organisation in pursuing a market-driven strategy exists in the proven link between superior business performance and market orientation...
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