...Running head: ASSIGNMENT 2: FACTORS AFFECTING MARKETING STRATEGY Assignment 2: Factors Affecting Marketing Strategy BUS 510 – Consumer Behavior February 23, 2014 Running head: ASSIGNMENT 2: FACTORS AFFECTING MARKETING STRATEGY Factors Affecting Marketing Strategy While at a local women’s retail store, came across an interesting leather necklace that caught my attention. As I moved closer to view the item, I was sure the accessory belonged to one of the popular designers and was quite expensive. Once I reached the shelf were the item was display; I saw the designer name “Heaven’s Creations”; an unknown product designer. The necklace was quite a show stopper, extraordinary looking and not to mention affordable. The off-brand’ designer’s line is unique because the pieces are all “one of a kind”--no replicas However, I was informed that the designer does design commission jewelry. I most say that if all future accessory ornaments of the unknown designer’s are as exquisite and show stopping as this leather necklace, the designer will not be off-brand for long. Jewelry, Apparel and Accessories products fall into the category of high involvement/emotions. These are products for which the buyer is prepared to spend considerable time and effort in searching. When marketing this jewelry line, I am going mimic existing campaigns as jewelry is a billion-dollar industry employing millions of people around the world, and costume jewelry has a large piece of this pie...
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...Advertisements are always aimed at communicating and persuading potential buyers or consumers of a certain product. According to Egendorf (2006), most likely, the marketing strategy that an advertisement uses influences the consumer behavior towards a certain product. This essay will explore a print media advertisement and explore the assumptions that its authors seem to make about the consumers being targeted. The essay will therefore explore the consumer groups excluded while seeking its failure to appeal in the said groups. Finally, an analysis of the advertisement and its cultural relevance will be evaluated. The advertisement under analysis is by the firm Dallas Farmer market that seeks to advertise its fresh farm vegetable goods. The advertisement portrays fresh vegetables from the farm in a well stacked basket. Apart from the pictorial advertisement, a message is displayed on the cover of the basket reading “fresh and tasty”. Finally, a mind sticking slogan is printed which reads “Healthy foods, affordable prices, now accepting lone stars”. I got the advertisement from a print digital magazine known as Creativebloq.com. A keen look at the print advertisement will reveal that the authors of the advertisement made some assumptions about their target consumers. First and foremost, the authors make an assumption that the consumer always make their decisions based on the happiness or satisfaction they will get from the products they buy. In this instance, the advertisement...
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...MKT 510 ASSIGNMENT 2 FACTOR AFFECTING MARKETING To purchase this visit here: http://www.activitymode.com/product/mkt-510-assignment-2-factor-affecting-marketing/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 510 ASSIGNMENT 2 FACTOR AFFECTING MARKETING MKT 510 Assignment 2 - Factor Affecting Marketing Strategy- Walgreens Ibuprofen Go to a local store that sells store brands or off-brand consumer products. Choose any off-brand consumer product that you want to reposition into a national brand. To qualify as a product for this assignment, the consumer product should not be currently represented by an advertising campaign. (A quick Google search, as well as the absence of ads for the product in your daily life, is one way that you can verify a product’s lack of an associated major advertising campaign). For this assignment, you will be creating an advertising campaign to launch this off-brand product to national prominence. Determine whether you wish to mimic an existing advertising campaign or whether you wish to create a completely unique campaign altogether to launch the selected product. Go to the following pages of the United States’ Census Bureau’s Website and locate information regarding the market segment that the selected product is geared toward: American Fact Finder:http://factfinder2.census.gov/faces/nav/jsf/pages/searchresults.xhtml?refresh=t 2012 National Population Projections: Summary Tables:http://www.census.gov/population/projections/data/national/2012/summarytables...
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...Talk about enterprise competence marketing way and its influencing factors Abstract: the study found that ability including the ability to transfer of marketing and sales, the ability of communication and promotion, sharing and union of three typical way;And the choice of a variety of ways is the ability to attribute and the marketing characteristics, cultural distance, relationship quality and customer value and enterprise value variables such as the result of the interaction.This recognition in theory and reveals the ways of marketing ability and choice mechanism, the ability to expand and enrich the existing marketing theory, and provides the academic development ability next marketing scale structure shape and support;At the same time the ability to formulate marketing strategy for the enterprise marketing method to provide corresponding guidance and effective selection ability. Key words: ability of marketing;Marketing way;Selection mechanism One, the introduction Existing enterprise competence theory, especially the theory of marketing ability is difficult to explain the marketing communication activities between industry enterprises in the market.Because in industrial marketing, communication between the enterprises more and more focused on the supplier's resources and capabilities, rather than the current sales of the products.For example, in the capital products trade fair, exhibitors tend to introduce to the customer from the r&d department of technical personnel...
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...Macroenvironmental Influences on Marketing Decision Making The retail sector is very huge sector in the UK Market. Retail covers the whole lot from the small village shop where the shop proprietor recognizes every shopper by name, to the London Oxford Streets giant department stores. The Retail industry range includes the shop where you walk into to purchase, to the shops where you can explore with a keyboard and mouse. As per Department of T rade and Industry’s commissioned report in 2003, £221bn topped in the UK after retail sales, and also provides jobs to around three million people and contributed 12% in the whole UK economy . We society is consumer-driven society , where shopping represents a lot more a hobby than an actual requirement to purchase products. ABOUT TESCO T esco, among the globe’s leading multinational retailers and a top retail store chain in the UK. In 1919 T esco was founded by Jack Cohen, at that time Cohen started to sell extra grocery items from a stall in the East End of London. Against his first day’s £4 sale he gained £1 profit. The T esco brand first time appeared in 1924. The brand `TESCO`, came about after Jack Cohen purchased shipment of tea from the supplier T .E. Stockwell. He made new labels by using the first three letters of the supplier's name (TES) and (CO) from his sir name forming the name "TESCO”. The first brand which was sold by the T esco was “T esco T ea” in 1924. The first T esco store was started in 1929 at Burnt...
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...Apply Qantas as an Australian company increasingly operating in a global world investigating how the various macro-environmental (uncontrollable) factors impact the marketing mix (controllable) factors. Qantas was founded in 1920 and initially known as the Queensland and Northern Territory Aerial Services Limited (Qantas). It is regarded as one of Australia’s strongest brands and worlds’ leading long distance airline nationally and internationally. Qantas’ business is mainly constructed by the transportation of customers using both their airline brands Qantas and Jetstar as well as operating in other subsidiaries such as Q catering, frequent flyer, freight enterprises as well as other airlines (Qantas, 2013). It employs 33,000 people with 93 per cent of these employees being based in Australia (Qantas, 2013). Recently, Qantas has undergone changes that have threatened and seen Australians question if Qantas will remain an Australian brand. Reports have demonstrated 1000 jobs being cut due to restructuring of international arms as well as the decision to move Australian jobs offshore. Qantas has implemented plans to strengthen international ties particularly in Asia by funding start up airlines internationally. The global market is continuously evolving and as Bernard et al. stated ‘firms that are engaged in international trade are larger and more productive than the ones that serve only domestic markets’ (2007). However, the Federal transport Minister Anthony Albanese has stressed...
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...Marketing mix Kotler defined that marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products and services of value freely with others. (Kotler, 2002) McCarthy’s Four Ps A marketing expert named E. Jerome McCarthy created the Marketing Four Ps in the 1960s. This classification has been used throughout the world. Business schools teach this concept in basic marketing classes. The marketing four Ps are also the foundation of the idea of marketing mix. Product A product is an item that is built or produced to satisfy the needs of a certain group of people. The product can be intangible or tangible as it can be in the form of services or goods. Price The price of the product is basically the amount that a customer pays for to enjoy it. Price is a very important component of the marketing mix definition. It is also a very important component of a marketing plan as it determines your firm’s profit and survival. Adjusting the price of the product has a big impact on the entire marketing strategy as well as greatly affecting the sales and demand of the product. Place Placement or distribution is a very important part of the product mix definition. You have to position and distribute the product in a place that is accessible to potential buyers. This comes with a deep understanding of your target market. Understand them inside out and you will discover the most efficient positioning...
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...Confidential MARC WENN LUXURY GARMENTS & ACCESSORIES Business Plan ©2015 www.marcwenn.com 1.0 Executive Summary MARC WENN will be run as an online fashion business which provides luxury garments and accessories, without the luxury price tags. The business is at its start-up stage with business operation which commenced less than six months. The businesses made over £8,500 within two months of its business operation and currently have about 40,000 followers on major social media such as Instagram, Twitter and Facebook. Its business strategy is designed to deliver e- commerce business and online shop which is gradually replacing the traditional shop premises on the high streets, as a way of reaching the target market. The business is positioned to provide a strong brand identity that is able to affect customers’ behaviours by building emotional connection that is able to reinforce buying habit. The business is named MARC WENN to differentiate its various products from similar offerings, hence attract customers to the business and draw traffic to the business online shop. The increase in the use internet and speed of browsing in our society will provide a huge opportunity for this business to strive. More and more users especially among younger target customers have access to the use of internet for variety of fulfilling purposes, including for shopping. Currently, the main demographic for the business is male age 18-30. The business hopes to extend this to...
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...Task 1 1.1 Review the changing perspective in the marketing planning Marketing planning is a blueprint of the organization that describes the organization marketing efforts and its future destination. The more the company can make the marketing planning, the more the company will be succeeding in the market. Marketing planning is significant to utilize the company’s available resources and to achieve the specific goal of the organization. Business environment is changing in everyday now. The operational manager faces problem with changing environment in the business. The changing perspective in the marketing planning is that the marketing planning changes in different business environment. The marketing planning must be flexible. In the changing the marketing planning of the business, the organisation got better position in the market to capture opportunities and can easily handle risks. The organisation can use the marketing resources more effectively. By the changing marketing planning, the organisation can improve the sales and profit. 1.2 Evaluating organization capability for planning its future marketing activity Capability is the power that specifies the ability of the work force of the business organization. The company should make its marketing planning based on its capability. If the organization does not consider the organization’s core ability to make its marketing planning, the organization will no able to implement those planning. There are many theories to...
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...HNC BusinessUnit 4 Marketing Principles Learning outcome 2 Micro & Macro Environment Objectives of presentation • Discover the micro marketing environment (internal) • Discover the macro marketing environment (PEST FACTORS-external) • Explain ‘The Marketing Audit’ and how the elements influence marketing decisions Integrated Marketing Integrated marketing strategies take advantage of a combination of communication tools and media to spread a message such as one-to-one marketing, mass marketing and direct marketing. The strategy is developed to ensure the company will deliver the intended value to those customers through a blend of marketing mix tools. Example of an Integrated Marketing Plan Environmental Analysis Environmental analysis is a vital exercise to complete by any company that will explore and understand the external local, national or international forces that might affect your business. The factors are largely outside the direct control of any company and can sometimes have a negative impact on their plans. Equally this can be very important as it will support the business and marketing strategy allowing the company to take advantage of potential opportunities whilst minimising the potential threats to the company. The Marketing Environment According to Philip Kotler, “A company’s marketing environment consists of the internal factors & forces, which affect the company’s ability to develop & maintain successful...
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...An assignment On Marketing Plan Submitted by: Submitted to: Date of submission: Table of Contents Executive summary: 5 Introduction: 7 Methodology: 7 Part A- Essay: 7 A.01 Changed perception in marketing plan: 7 A.02 Barriers to marketing plan: 7 Marketing function isolation: 8 Organizational barriers: 8 Demographic factors: 8 Economic factors: 8 Technological factors: 8 Culture: 8 A.03 Techniques for overcoming barriers to marketing plan: 8 Be strategic: 8 Be realistic: 8 Stay focused: 9 Monitor the budgets: 9 Market research: 9 A.04 Importance of marketing plan in the strategic plan: 9 Product: 9 Price: 9 Promotion: 9 Place: 9 A.05 Ethical issues in marketing plan: 10 A.06 Organization responses to ethical issues: 10 Individualistic approach: 10 Communal approach: 10 A.07 Example of consumer’s ethics and the effect on the marketing plan: 11 Part B: Preparing marketing plan 11 B.01 Organizational capability evaluation: 11 Business experience: 11 Business reputation: 11 Company culture: 11 Business environment: 11 B.02 Techniques used in organizational auditing and analyzing external factors: 11 B.03Carried out organizational audit and external factors analysis that affect marketing plan: 12 SWOT analysis of the Toyota Company: 12 PEST analysis for Toyota Company: 13 B.04Marketing plan: 14 Marketing objective: 14 Objectives: 14 Strategy statement market share: 14 Brand awareness:...
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...Marketing Principles All organisations will use some sort of marketing. Marketing is there so an organisation can find out what their customers’ needs are, and how these can be met. In this manual I will be talking about John Lewis Marketing process. Having a good marketing department can help the John Lewis keep costs down. If the correct process is taken for marketing, it will eliminate the guessing and forecasting that are linked with trying to predict product trends and consumers demand for goods or services. when the organisation knows what they customers wants, they will all be able to provide the right type of product or service and will always have customers ready to purchase. All so having a good marketing department or team, will help a John Lewis build a loyal customer base and help with repeat custom. This is called brand loyalty; it is one of the main advantages of having a good marketing team. Marketing is usually defined as a process that identifies and predicts what the customer wants and then trying to satisfying the customers’ needs and making a profit by doing this. Every business or organisation will follow marketing plan or a marketing process. The marketing plan will serve as a wide range plan which will outline the organisations marketing efforts. Using the marketing process, John Lewis will have to find out what their customers want and what their needs are and what the business can do to meet their needs and demands. The...
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...ENVIRONMENTAL FACTORS Every organization has rules, regulations, and guidelines that help govern the conduct of their employees, global marketing decisions, and environmental factors. Environmental factors are often divided into two categories namely macro environment and microenvironment. In addition, environmental factors can be political, social, ecological, cultural, technological, and ethical in nature. Whereas, any organization that develops a product or service globally must consider the impact each of the environmental factors may have. For instance, factors can result in the failed attempt to market a product, which may be successful domestically, in other countries where there is a significant market potential. Furthermore, this essay will identify the environmental factors that affect global and domestic marketing decisions, impacts of technology, and the importance of social responsibility and ethics as related to PepsiCo marketing. PepsiCo is a world leader in convenient snacks, foods, and beverages with revenues of more than $39 billion and over 185,000 employees, which conducts both domestic and global marketing(PepsiCo, 2009). At the same time, PepsiCo is committed to protecting their natural resources and operating in a way that minimizes the environmental footprint, with the goal of reaching a net-neutral impact. In addition, as a multinational company, PepsiCo value the unique contributions and perspectives that people from different culture bring to...
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...MARKETING PRINCIPLES Table of Contents “The Concept and process of marketing” 3 1.1 VARIOUS ELEMENTS OF MARKETING PROCESS: 3 1.2 EVALUATE THE BENEFITS AND COSTS OF A MARKETING ORIENTATION FOR A SELECTED ORGANIZATION: 4 TASK 2: 5 REPORT on “The Concept of Segmentation, targeting and positioning” 6 2.1 Macro and Micro environment Factors Which Influence Marketing Decisions 6 2.2 Segmentation Criteria to be used for Products in different Markets 8 2.3 TARGETING STRATEGY FOR A SELECTED PRODUCT/SERVICE 9 2.4 HOW BUYER BEHAVIOUR AFFECTS MARKETING ACTIVITIES IN DIFFERENT BUYING SITUATIONS 10 2.5 NEW POSITIONING FOR A SELECTED PRODUCT/SERVICE: 10 Task 3: 11 UNDERSTAND THE INDIVIDUAL ELEMENTS OF THE EXTENDED MARKETING MIX 11 3.1 HOW PRODUCTS ARE DEVELOPED TO SUSTAIN COMPETITIVE ADVANTAGE 11 3.2 EXPLAIN HOW DISTRIBUTION IS ARRANGED TO PROVIDE CUSTOMER CONVENIENCE 12 3.3 EXPLAIN HOW PRICES ARE SET TO REFLECT AN ORGANIZATION’S OBJECTIVES AND MARKET CONDITION 13 3.4 ILLUSTRATE HOW PROMOTIONAL ACTIVITY IS INTEGRATED TO ACHIEVE MARKETING OBJECTIVES 13 3.5 ANALYSE THE ADDITIONAL ELEMENTS OF THE EXTENDED MARKETING MIX 14 Task 4: 15 USE THE MARKETING MIX IN DIFFERENT CONTEXT 15 4.1 Plan Marketing mixes for two different segments in consumer markets 15 4.2 Illustrate differences in marketing products and services to businesses rather than consumers 15 4.3 Show how and why international marketing differs from domestic marketing 16 CONCLUSION: 16 TASK 1: ...
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...Faculty of Journalism and Media Communications Assignment Cover Sheet |Student name: |Adebayo Olaniyi | |Student number: |2910750 | | |Course: |Digital Communications |Stage/year: |1 | |Subject: |Marketing, Branding & Audiences | |Study Mode: |Full time | | |Part-time |x | | |Lecturer Name: | Robbie smith & Stephen o leary | |Assignment Title: |Select two firms: (a) a small Irish business and (b) A large transnational firm. | |No. of pages: | | | |Disk included? |Yes | | |No |x | ...
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