...Assignment on- (4Ps of Marketing Mix) (Principles of Marketing) [pic] Submitted to Mohammed Masum Iqbal Assistant Professor Faculty of Business & Economics Daffodil International University Submitted by Md. Nahid Kadir ID No : 122-11-2574 Section : A Date of submission: April 21th, 2013 Marketing Mix 4p’s The Marketing mix is a set of four decisions which need to be taken before launching any new product. These variables are also known as the 4 P’s of marketing. The marketing mix consists of- Product Price Place Promotion Marketing Mix 4p’s [pic] The marketing mix principles are controllable variables which have to be carefully managed and must meet the needs of the defined target group. All elements of the mix are linked and must support each other. PRODUCT STRATEGIES When an organization introduces a product into a market they must ask themselves a number of questions. • Who is the product aimed at? • What benefit will they expect? • How do they plan to position the product within the market? • What differential advantage will the product offer over their competitors? Three levels of a product Level 1: Core Product. What is the core benefit your product offers? Customers who purchase a camera are buying more than just a camera they are purchasing memories. Level 2: Actual Product. All cameras capture memories. The aim is to...
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...M&s should take into account buyer behaviour in their marketing activities to obtain long term binifit relation ship with their customers. There are a number of elements involved in purchase discion marking. Economical, political, culture, technological. Understand buyer behaviour is importance for M&S to focus on right customers so they can sell the right product at the right prices. 4P’s. . It is the matching of the right marketing stimuli to these characteristics that will determine whether a buyer will make the right decisions and thereby bring a company success. Culture characteristic Many of our values, perceptions, wants, aspirations, and behaviour will arise from what we have learned largely from our family and other important reference groups and institutions. Social Consumer behaviour can also influence by group of people or endivital person depend on the social roles and status. Nike used David Pecham to promote their brand. M&S core principles is the Quality and value for money, East, R(1997,p 15). Their stronges and most trusted product is working suit. Consumer who buying their product are working class people. What M&S should foscus on what’s make their costumers buying and how to make them buy more. Working class buying descision can be clascify as manageble approach, mean they resarch on the internet , magazin TV advertise for the best alternative before they make a final discusion, because buying a suit is more expencive than buying a...
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...The Marketing Mix (4p’s) The marketing mix consists of Product, Price, Place and Promotion strategies that a firm uses to help them reach their objectives. The marketing mix principles are controllable variables which have to be carefully managed and must meet the needs of the defined target group. All elements of the mix are linked and must support each other. PRODUCT STRATEGIES When an organization introduces a product into a market they must ask themselves a number of questions. • Who is the product aimed at? • What benefit will they expect? • How do they plan to position the product within the market? • What differential advantage will the product offer over their competitors? Three levels of a product Level 1: Core Product. What is the core benefit your product offers? Customers who purchase a camera are buying more than just a camera they are purchasing memories. Level 2: Actual Product. All cameras capture memories. The aim is to ensure that your potential customers purchase your one. The strategy at this level involves organizations branding, assessed features and benefits to ensure that their product offers a differential advantage from their competitors. Level 3: Augmented Product. What additional non-tangible benefits can you offer? Competition at this level is based around after sales service, warranties, delivery. A retail departmental store that offers a free five year guarantee on purchases...
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...International marketing strategies that Apple Inc. currently does in order to promote their products. The key strategies will be discussed and explained further in more clarity. There will an investigation into any problems that Apple may face currently as well as potentially. Finally, there will be recommendations in terms of their marketing strategies will be given. Firstly, there will be an introduction into the company with clear background information. This will provide an insight into the formation of Apple Inc. and the mastermind behind Apple’s successful marketing strategies. Information on the key products that Apple produces and sells will also be given. The report will also look at the marketing mix of Apple, also known as the four P’s: • Product • Price • Place (distribution) • Promotion The 4p’s will be discussed in detail and there will be specific analysis on each of the core elements in the marketing mix. Therefore, the importance of having quality products will be explained. Also, the reasons why price plays a pivotal role in terms of Apple’s international marketing will be specified. Apple’s distribution policies will be examined and explained; as well as the promotion strategies that are used by Apple to enhance its global appeal. The report will also provide a SWOT analysis; this is a strategic method that will be used in order to evaluate Apple’s strengths, weaknesses, opportunities and threats in terms of their international marketing. Therefore...
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...rketing TABLE OF CONTENT Assignment Question 1) Introduction International Marketing Sony Corporation company’s background overview • Sony Rolly Figure 1.2 2) Situational analysis PESTLE analysis • What is PESTLE analysis? • Figure 2.2 • Sony’s Pestle analysis SWOT analysis • Sony’s SWOT analysis Figure 2.3 Marketing mix (4p’s) • Product • Promotion • Price • Place (distribution) 3) International Marketing Objective SMART (corporate objectives) Sony’s Mission and Vission statement 4) Marketing Strategy Ansoff’s Matrix Market Entry methods Segmentation, targeting and positioning Assignment Question Produce an international marketing plan that will introduce a consumer brand sold in your home market into a country in which it is currently not available. Introduction International Marketing As you can see that nowadays, a majority of organization try to market their products internationally. There are some reasons why they want to market it internationally and the reasons are to saturated their home market, competition, excess capacity, product life cycle differences, geographic diversification, comparative advantage in product, skill and technology, organizational reasons and lastly is the financial reasons (Walsh., L.S., 1993). International marketing can be defined as the performance of the business activities that is specially designed...
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...ideologies which include concepts and principles. However, the most important thing in business is marketing because it creates awareness to customers of the products of a business. As this is the case, managing directors and marketing managers should always make sure that they employ effective marketing principles in attracting customers and retaining them. The objective of marketing is to retain existing customers and attracting new ones. Business is about satisfying customers and thus increasing their activity with your business. As in most business sectors there is tough competition meaning that businesses can only gain competitive advantage when they are effective in marketing & good customer service, which includes creating good rapport via public relations. However, this is not as easy as it sounds and much work has to be done in order to attain it. Customers will make choices of where to go for goods or services based on many things - including their perception of the attitudes of employees. Four main aspects have been selected as the main determinants of the success of any business. They include the place where the business is located, the product(s) itself, the price of the product and the manner in which the company promotes its products. A combination of the 4 P’s and a PEST analysis are likely to improve or produce excellent results. Introduction Applying marketing principles are the building blocks in business growth and provide a business with in-depth exposure...
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...INTRODUCTION A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or Service (economics) service, a brand, or a product line. Marketing plans cover between one and five years. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use. In most organizations, "strategic planning" is an annual process, typically covering just the year ahead. Occasionally, a few organizations may look at a practical plan which stretches three or more years ahead. To be most effective, the plan has to be formalized, usually in written form, as a formal "marketing plan." The essence of the process is that it moves from the general to the specific; from the overall objectives of the organization down to the individual Objective (goal)|action plan for a part of one marketing program. It is also an interactive process, so that the draft output of each stage is checked to see what impact it has on the earlier stages - and is amended. Detailed plans and programs At this stage, you will need to develop your overall marketing strategies into detailed plans and program. Although these detailed plans may cover each of the 7 P's, the focus will vary, depending upon your organization's specific strategies. A product-oriented company will focus its plans for the...
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... |115315 | |04. |Reshma Akter |B1102030 | |05. |Alim Ehsan Dipon | B110203105 | Letter of Transmittal 30th April, 2012 Saud Ahmed Lecturer Department of Finance Jagannath University, Dhaka. Subject: To submit an assignment of “New Product Development.” Dear Sir, This is informed you that we have completed our Assignment on “New Product Development”. Here we tried our best to give an overview of product development, types of information, and its contribution to overall marketplace and a practical example of it, related to our course ‘Principles of Marketing’. In preparing this Assignment we have followed the instruction of yours, we will be glad to clarify any discrepancy that may arise. Thank you for your...
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...Introduction The Coca-Cola Company was originally established as the J. S. Pemberton Medicine Company, a co-partnership between Dr. John Stith Pemberton and Ed Holland. Dr. John Stith Pemberton for the first time produced the syrup for Coca-Cola on May 8, 1886. The Coca-Cola formula and brand was bought in 1889 by Asa Candler who incorporated The Coca-Cola Company in 1892. Besides its namesake Coca-Cola beverage, Coca-Cola currently offers nearly 400 brands in over 200 countries or territories and serves 1.5 billion servings each day. The Coca-Cola Company is the world’s largest company, refreshing consumers with more than 450 sparkling and brands. Along with the coca-cola recognized as the world’s most valuable brand. Globally no.1 provider of Coca-Cola the product that has given the world’s its best-known taste was born in Atlanta, Georgia, on May 08, 1886. Coca-Cola Company is the world’s leading manufacturer, marketer & distributor of non-alcoholic beverage concentrates & syrups. The Company beverage products comprises of bottled & canned soft drinks as well as concentrates, syrups and not ready-to-drink power products. The coca cola company began building its global network in the 1920s. The company aims at increasing shareowner value overtime. It accomplishes this by working with its biz partners to deliver satisfaction and value to customers through a worldwide system of superior brands and services, thus increasing brand equity on a global basis. The associates...
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...1 CHAPTER #1: INDUSTRY ANALYSIS 2 1.1: INTRODUCTION........................................................................................3 1.2: HISTORY/ BACKGROUND......................................................................3 1.3: MAJOR PLAYERS......................................................................................4 1.4: PEST ANALYSIS.........................................................................................5 1.4.1: POLITICAL FACTOR.............................................................................6 1.4.2: ECONOMIC FACTOR.............................................................................6 1.4.3: SOCIO-CULTURE FACTOR..................................................................7 1.4.4: TECHNOLOGICAL FACTOR................................................................7 1.5: PORTER’S FIVE FORCES MODEL.........................................................9 1.5.1: THREATS...................................................................................................10 1.5.2: POWER OF BUYERS................................................................................10 1.5.3: POWER OF SUPPLIERS..........................................................................10 1.5.4: THREATS OF SUBSTITUTE...................................................................10 1.5.5: COMPETITIVE RIVALRY......................................................................11 1.6: STRATEGIC GROUP MAP..................
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...INSTITUTE OF BUSINESS MANAGEMENT AHMEDABAD (2011-2013) DECLARATION We Moulin Gajjar, Mohammad Ali & Bhargav Radia students of the two year PGDM programme at N R Institute of Business Management hereby declare that the report on summer training and project work entitle is the result of our own work. We also acknowledge the other works/publication cited in the report. (Signature) (Signature) (Signature) Moulin Gajjar Mohammad Ali Bhargav Radia Place: Ahmedabad Date:3/08/2012 ACKNOWLEDGEMENT I express my sincere thanks to Ms. Upasana Miterani and Mrs. Nikita Panchal Marketing Executives, ACTIVE MEDIA, AHMEDABAD. Who guided me throughout my project with constant co-operation, encouragement and motivation. I thank to record my gratitude to our college Director for his encouragement and valuable support towards us. My project guide Mr. Rajesh Asrani has provided his valuable inputs as and when required. I thank him for his help and constant support. I wish to place on record my gratitude to all the persons I have met during the data collection phase of my Project. Their inputs are indispensable. Last but not the least I would thanks my friend for sharing the resources required for successful completion of this project....
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...TE AM FL Y Praise for Marketing Insights from A to Z “The bagwan of Marketing strikes again. Leave it to Phil Kotler to revisit all of our blocking and tackling at just the right time . . . and as all great marketers know: ‘timing is everything.’” —Watts Wacker Founder and CEO, FirstMatter Author, The Deviant Advantage: How Fringe Ideas Create Mass Markets “Wide-ranging, readable, pithy, and right on target, these insights not only are a great refresher for marketing managers but should be required reading for all nonmarketing executives.” —Christopher Lovelock Adjunct Professor, Yale School of Management Author, Services Marketing “Kotler tackles the formidable challenge of explaining the entire world of marketing in a single book, and, remarkably, pulls it off. This book is a chance for you to rummage through the marketing toolbox, with Kotler looking over your shoulder telling you how to use each tool. Useful for both pros and those just starting out.” —Sam Hill Author, Sixty Trends in Sixty Minutes “This storehouse of marketing wisdom is an effective antidote for those who have lost sight of the basics, and a valuable road map for those seeking a marketing mind-set.” —George Day Geoffrey T. Boisi Professor of Marketing, Wharton School of Business “Here is anything and everything you need to know about where marketing stands today and where it’s going tomorrow. You can plunge into this tour de force at any point from A to Z and always come up with remarkable insights and...
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...Principles of Marketing – MGT301 VU MGT - 301 Lesson – 1 PRINCIPLES OF MARKETING Overview of Course: This subject/course is designed to teach the basic principles of Marketing to diverse audience/students, including those who are studying this as a supporting subject for their bachelor degree program. This course is designed to provide you the foundations of Marketing whether you intend to work in field of the marketing or not. 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. To be understandable and lively means that we need to communicate you. We start every chapter with learning objectives. The most important thing you will get out of this course is the basic skills required to succeed in today’s competitive environment. 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 to 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. Introduction of Marketing What image comes...
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...of Business Management Marketing Management www.iibmindia.in Subject: MARKETING MANAGEMENT Credits: 4 SYLLABUS Concepts of Marketing Management: Definition and Concepts: Definitions of Marketing, Scope of Marketing; Core Marketing Concepts: Concept of Demand and Supply; Transaction; Major Marketing Management Philosophy; Social Marketing Marketing Environment - Internal & External Marketing Environment Forces; Macro Environment; Micro and Internal Environment; Factors Influencing Consumer Buyer Behavior; Buyer Decision Process; Inputs for Buying Decision Process; Consumer Trends; Market Segmentation Process. Developing Market Strategies and the Offerings Part –I Positioning and Differentiation: Concept, Positioning according to Ries and Trout, Various Tools of Differentiation; Product Decisions and Strategies; Product Mix; Product Life Cycle; Brand Positioning; Brand Identity; Equity and Packaging. Developing Market Strategies and the Offerings - Part II: Introduction to Service Marketing; Differentiating Services; Product and Service Price; Response to Change in Price; Pricing Strategies. Delivering Marketing Programs – Part I Marketing through Channel Partners; Wholesalers and Retailers: Current Trend; Channel Management. Delivering Marketing Programs – Part II Market Communication, Process for Effective Communication; Advertising; Different Advertising Media; Sales Promotion; Public Relations; Direct Marketing; Personal Selling: Concepts...
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...What a marketer want???? N how he get there???? Types of marketing… Societal marketing Traditional marketing Word of mouth Sales promotion Gorilla marketing Viral marketing n so n so on….n what not…many more YYYYYY DY NEED TO STUDY ALL DEZ…YYYY…ITNI CARE TO HMRI HMRY PARENTS B NHI KRTY…JTNA YE LOG KRTY HY… R DEZ REALLY THE CUSTOMERS OR THE PROFIT????? TOPIC…….BIRD EYE VIEW OF HOW P & G TACKLES ITS CUSTOMERS…. SUBJECT….MARKETING MANAGEMENT SUBMITTED BY…..SADAF, FARAH ,MARYAM,RUBINA DATE OF SUBMISSION…30 APRIL 2014 SUBMITTED TO….MAAM SADI AZIZ Mahatma Gandhi > Quotes > Quotable Quote “A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us an opportunity to do so. CUSTOMER PSYCHOLOGY……HOW IMPORTANT FOR A MARKETER TO STUDY????? Companies use marketing to promote and sell their products or services, and consumer behavior is how consumers act and respond in the retail environment. In order for a company to create a strong marketing campaign, it is important to understand how and to what the consumer will respond. This relationship between marketing and consumer behavior involves studies, focus groups, psychological analyses and other methods of studying the market for a particular...
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