...2011 MKT 421 University of Phoenix Glenna Twing Marketing Plan: Phase III Verizon, a global leader in telecommunications, information technology, and entertainment hopes to leap-frog over the competition with its development of an integrated whole-house digital video recorder (DVR). Verizon’s fiber optic (FiOS) service is the only television, Internet, and digital voice service currently available using 100% fiber optics (Verizon, 2009). As part of a team assignment, Team D has provided plans for the innovative whole-house DVR and identified the segmentation criteria that affects the target market. These factors may influence purchasing decisions of Verizon’s customers but more importantly these factors affect the marketing strategy. Developing a new product or service begins by conducting extensive research into the quality of the product, the wants and needs of the target market, introduction of the product to the public, meeting the appropriate price, and competition. In this phase, Team D will discuss differentiation and positioning, product life-cycle, and the appropriate marketing mix for Verizon’s successful launch of their new product and service. Whole-House Integrated DVR Verizon’s new product - a whole-house integrated wireless (WiFi) enabled cable box offers more features than any other cable box on the market. With the purchase of this new system, customers have less equipment to worry about, leaving more time for enjoyment. The integrated cable box allows...
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...Description of the business The name of the business is Jheanell’s House of Glamour. It is a beauty salon that caters for both men and women. Jheanell’s House of Glamour is a sole trader business owned by Jheanell Senior and has a total of 15 employees. Jheanell’s House of Glamour is located at 16 Victoria Avenue, St.Andrew. The main purpose of the business is to provide quality beauty services such as airbrush make-up, hair extensions, barbering services, spray tanning, and wedding hair and make-up as well as other beauty services at reasonable prices. Organizational structure of The marketing department DATA ENTRY CLERK SALES REPRESENTATIVE ADVERTISING/PRODUCT DEVELOPMENT PERSONNEL MARKETING MANAGER Marketing Manager – the marketing manager Christina Thompson is responsible for planning promotions, road shows and to liaise on with the public to inform them about future events and supervise persons working in the department as well. Product development/advertising Personnel – Cheanell Senior is responsible for introducing new hair care products. Designing T-shirts and making the office layout, the inside as well as the outside of the workplace as attractive and marketable as possible. This person also set up workshops and design strategies of how to attract new customers and maintain loyal customers. Cheanell Senior has two employees who work with her in this area of the business. Sales Representative – Nickala Mcbean as...
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...PRICE DISCRIMINATION Submitted By: S Date Abstract The aim of this research was to investigate the consumer’s buying behavior related to product differentiation. The report is comprised of three sections. The first section contains the introduction and background about the topic chosen is Product differentiation, the second sections contains the source of reports i.e. from where the data is collected and the last section belongs to the analysis, statistics and summary of the survey which is conducted by the researcher. Dedication A journey of thousand miles Begins with a single step But for that single step, One has to be motivated. This humble effort is dedicated to my sweet Mother & Great Father Who motivated me for That step and has been Guiding me to achieve The heights of an ideal life. Letter of Transmittal Project supervisor & course instructo Respected Ma’am, This letter is a response to the report “Price Discrimination”. The research is conducted to find the impact of price discrimination in our country with respect to the world. This is something which would take the rights of the people belonging to lower class to live in this world. Through this report we can create some awareness and at a snail’s pace we’ll absolutely reach to a conclusion which would b in our favor. Sincerely, Muhammad Najam Absar Taha TABLE OF CONTENTS i. Abstract…………………………………………………………...2 ii. Dedication……………………………………………….......
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...House of Wine – Grand Opening Eric Armbrust 7-11-14 The House of Wine - Grand Opening Starting a business comes with many different challenges and decisions that must be overcome. Some of these questions and challenges would include: what product will be sold, what location shall be used, how to make the product presentable, and what market to target. All of these questions hopefully get answered in the planning stages of the business plan, however, most of the time these are found out during the implementation of the initial plan based on successes and failures. To create this plan there are many things to consider including the product strategy, the pricing strategy, and a time line for the two to create structure and deadlines. The product strategy includes choosing the main products, complimentary products, and any services that also may be provided. The pricing strategy focuses more on the demographics, efficiency, profit maximization, and experience. The timeline is used to create structure and deadlines so the business can be established. Once the main infrastructure of the business is set in place (building the 7,200 square-foot retail showroom), it is time to create a product strategy...
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...Price discrimination: For a firm to engage in price discrimination, at least one of the following conditions should be met. Either a firm should be operating in monopoly market or a firm should discourage discount customers from becoming resellers or a firm should have extensive customer data to segment its customers into different price elasticity of demand groups. I believe that house painting firm would engage most in price discrimination because, the painting firm has the opportunity to observe its customers and access how much a customer is willing to pay to paint his/her house before quoting price for the painting job. With this information, a house painting firm is in better position to engage in price discrimination. Other factors such as inability of the customers to resell the service and the costs involved in getting the competitive quotes help painting firm to engage in price discrimination. Manufacturer that produces racing boats also has the opportunity to observe its customers and access how much a customer is willing to pay for boat. Also another aspect that racing boats are purchased only by a few set of people and if the manufactured can get race winners to buy racing boats from them, then the manufacturer can show price discrimination towards other customers because, many people will believe that boats manufactured by that manufacturer are of superior quality. But again since manufacturer will not be able to prevent the customer who avails a racing boat...
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...“Marketing Activities of Batayan Housing & Development Ltd.” Submitted To: Mohammed Masum Iqbal Assistant Professor Department of Business Administration Daffodil International University Submitted By: Md. Roman Mia ID: 061-11-1157 BBA Program Major in Marketing Department of BusinessAdministration Daffodil International University. Date of Submission: 26-01-2013 January 26, 2013 Mohammed Masum Iqbal Assistant Professor Letter of Transmittal Department of Business Administration Daffodil International University Subject: Submission of Internship Report Titled “Marketing Activities of Batayan Housing & Development Ltd.” Dear Sir, I hereby with due respect would like to state that I have completed my Internship Program from Batayan Housing & Development ltd. I was appointed in Batayan Housing & Development ltd. Corporate Office addressed at 2/1, kalbagan (2nd floor), Dhanmondi, Dhaka-1205. The topic of my Internship report is “Marketing Activities Of Batayan Housing & Development Ltd.” Apart from the academic knowledge gained, this internship program and preparation of report has given me the opportunity to acquaint myself with a reputed company. I believe that the experience I acquired from this study will be an invaluable asset in my life. It has also to be mention that without your expert advice and cooperation it would not have been possible to complete this report. If you have any further enquiry concerning any additional...
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...consideration with environmental friendly products and one of them is Eco-Shack, eco-friendly portable house. The purpose of this essay is to show how the owner of Eco-Shack can persuade more people to use their products. The owner of Eco-Shack has to do market research to enables them to do market segmentation of their products for consumer segment and as well business segment. The aim of market segmentation is to enable them do be focus on certain segment, target the customers, be efficient, effective and generate more sales. The customer segment in New Zealand that might be interested in Urban Eco-Shack is demographic and psychographic segment. Using demographic segment, Eco-Shack can focus on the young age 20 to 30 also family size and income level, and then psychographic the New Zealand people that like to move houses every few years, so Eco-Shack can promote their products on this customer segment. Eco-Shack can target business segment for its Standard Eco-Shack, according to their business size, small business might be interested in buying it because it is easy to be move, medium size business might also interested in Eco-Shack example agent might want to buy Standard Eco-Shack from Doug and Paul to later sell it back to their customer and for large business Doug and Paul can make a deal with government or firm that want to buy in big number. Eco-Shack is using cost-plus pricing becauseit is easy to count and doesn’t need research. Deciding the price would set by the costs...
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...Debbie Richards Skim, Penetration and Neutral Pricing Skim, Penetration and Neutral Pricing: Which Strategy is right for you? Debbie Richards (Director, Baker Richards) When setting pricing strategy, there are essentially three approaches that require consideration. The first of these approaches is known as Skim Pricing. This is where you deliberately set your prices high (above the rates that the market might charge) in the knowledge that you will therefore restrict the market for the product. This strategy is particularly successful where you have either a high volume of demand or where that demand is relatively inelastic in terms of price. Using this strategy can also help to reinforce the quality of your product. The Royal Shakespeare Company in the UK is a good example of a very strong, high quality brand that attracts occasional attenders for a ‘treat’, in addition to highly frequent attenders. Consequently, they are able to skim price some of their ‘best’ seats by defining them as “superseats”. The income from this premium price then helps to subsidise the lower priced seats elsewhere in the auditorium: 1 Debbie Richards Skim, Penetration and Neutral Pricing But you don’t have to have the brand awareness of the RSC to pursue this strategy. Creation Theatre Company presents site-specific theatre, including open air Shakespeare in Oxford in the UK. By identifying the key benefits sought by the sector of the market that asks for ‘the best seats’ (for the...
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...Chapter 12 & 13 2- Well in my own words I am going to try to explain price and non-price competition with a scenario/ example. Wal-Mart is definitely the best (in my opinion) using the price competition approach against its competitors which is pretty much all kind of business out there from groceries, electronics, auto and others. They have what they call a “low price guaranty” and the “matching price” on others. This is one of the most aggressive pricing strategies out there. On another hand, you have a company like Brookshire’s, in Tyler which definitely cannot compete which so a big market like Wal-Mart so they approach is a non-price competition because their focus is more is the quality of their product and customer service. Like for example, the store brand quality between these two is big. The quality of the Brookshire’s brand is better (in my opinion). So by focusing in these areas Brookshire’s stays relevant in the grocery business against big corporations. I believe these two approaches obviously work better when they are competing in the same market. Like staples against office depot both have to compare prices and have a price competition approach. 4- * characteristics * Product or a service that people cannot live without. For example: Utilities service like water, electricity, a drug or medicine that some people depend on to live or survive. This kind of product if the price changes people have no other option that just getting it. * In...
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...places (homes) for the employees in which they could live in. Hence, saving the employees money, which some of the Disney employees did not make very much. For example; “Custodians make $23,000.00 a year and Attendants make only $14,000.00 a year.” But, the cost of a “one bedroom apartment was $1,400.00 a month.” So, it would benefit the employees to have SunCal build affordable places to live. But, on the other hand Disney makes their stand too. By building on property that was deemed to be set aside for later projects, it would not be a good move for Disney to turn loose of the land. Also, it would reduce the value of the property in the surrounding area because it would be lower income housing. For example; by building these houses it would lower the value on the existing properties in the area in which the median home price in the community was more than $600,000.00. So, there was a factor of the surrounding properties loosing value. There are a few solutions to this situation. The first would be for Disney to give their employees a raise. That way the employees would be able to afford a nicer place to live and closer to their place of employment. The second would be to offer up another piece of land, maybe one that is not right next to Disney. But, there is also another part to this, rather than calling it low income housing. Why not work together and try to come up with an idea for housing that would be up to the approval of Disney and SunCal. For example;...
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... but very soon with the tagline “Dirt is Good”, Surf Excel was successful in regaining its market leadership. It soon emerged back as the dominant detergent of the country. The product is decided by matching the marketing insights with the local insights. The marketing report of the brand should match the region’s attitude so that the product can fulfill and satisfy the customer’s need and expectation. The packaging is designed in such a manner that it should it is able to create a Recall value among the prospective customers. It should stand out among its competitors because majority of the purchases are impulsive buying’s. Price is decided as per the economic situation and spending pattern of the target market. Distribution pricing strategy is determined in such a way so as to suit all forms of trade (GT, LMT, and IMT) along with customer’s purchasing power. Promotion was the most important ingredient in the revival of Surf Excel. The event Paint Masti created a name of the brand. Relaunch of the Surf with the tagline “Dirt is Good” helps in differentiating the product, because all other brands are still focusing on the fact that dirt is bad. The selection of place to communicate the brand’s message is a crucial process. The team of Surf Excel chooses the most effective media, be it print or electronic, at the most economic and effective time. The target market of Surf Excel is mainly Housewives as deciders, whereas children as influencers. Surf Excel is available...
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...Chapter 19 – Pricing 1. State three factors that influence the price of fish and chips (3 marks) 1. Target market 2. Location 3. Community 2. Calculate the price charged to the customer if a firm adds a 300% mark up to a product costing £12 (4 marks) If the firm adds 300% it would be 3 lots of 12 because it is the whole of the price. Therefore 12 x 3 is 36. = £36.00 3. Explain why a product retailing at £99.99 is likely to be more appealing than one selling at a price of £100 (4 marks) This is promotional pricing, it is used when a business is trying to gain additional sales or sell old unused stock or services. On an aeroplane they discount the price just to get rid of the last seat, as the plane is going to fly anyway so they might as well get some money from it. It is a very common method of pricing. People perceive the item to be worth much less. 4. Analyse which method of pricing is most likely to be successful to a firm selling a. A plasma television set (4 marks) b. Remaining seats on an aircraft (4 marks) Remaining seats on an aeroplane would fit the method of discounting the price. This is because they want to make as much profit from that flight as possible, if the cost is lower there is more chance it will be sold. If a plasma TV is priced as £90.99, it means its promotional pricing. This is where customers perceive the price to be lower than it actually is and because TV’s are expensive this will help it sell. ...
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...10. Pricing decisions Factors to consider when setting prices All profit organizations and many non profit organizations must set prices on their products or services. Simply defined, price is the amount of money charged for a product or service. More broadly, price is the sum of the values consumers exchange for the benefits of having or using the product or service. A company's pricing decisions are affected both by internal company factors and by external environmental factors. These factors are shown in Figure 1. Internal factors include the company's marketing objectives, marketing mix strategy, costs, and organization. External factors include the nature of the market and demand, competition, and other environmental factors. Internal Factors Affecting Pricing Decisions Marketing Mix Strategy Price is only one of the marketing mix tools that the company uses to achieve its marketing objectives. We have coordinated our price decision with product design, distribution, and promotion decisions to form a consistent and effective marketing program. For our product the same price will be applied in different geographical areas. If a client wants to order our Lazzzerlight Product Machine from Spain or from China, there won’t be price differences. The price will remain the same no matter the country you live in. Of course, we are not responsible for the transport of our product, which means that the client must pay a transport fee according to the country...
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...WE HAVE TO ASSUME THEY ARE TRUSTED = SAFETY & ONTIME RECORDS NOW, LET US LOOK AT HOW IT IS BUILT UP & DELIVERED BUSINESS MODEL GENERIC • ASSET MODEL (LIGHT/ HEAVY) • INVESTMENT • OWNERSHIP • MANAGEMENT STYLE CAPITAL & GOVERNANCE SUPPLY & DELIVERY PRODUCTION • VOLUME /QUALITY • IN-HOUSE/ OUTSOURCE • PLANT, PROPERTY & EQUIPMENT • HR PRACTICES • COST CONTAINMENT PRICING & PROMOTION • SUPPLY CHAIN CONFIGURATION • CHANNELS • DISTRIBUTION METHOD • MARKETING • • • • 5|2 PRICING POLICY REVENUE & MARGINS MARKETING CUSTOMER SATISFACTION & RETENTION XIAMEN AIR INFERRED MODEL • INVESTMENT IN 737-800 • EMPHASIS ON QUALITY IN HR PRACTICES » SAFEST • SUBSIDIARY OF C.S.A » BUT CSA MAKES NO DIRECT INVESTMENT CAPITAL & GOVERNANCE SUPPLY & DELIVERY PRODUCTION PRICING & PROMOTION • ROUTES AND INTERCONNECTIONS • SOME REGIONAL (ASIAN) ROUTES •HIGHER PRICING POLICY IMPACT ON REVENUES / ASK (YIELD) •MARKETING •CUSTOMER SATISFACTION & RETENTION 5|3 XIAMEN AIR DIFFERENTIATION SKIPPING THE SWOT FOR THE MOMENT SINCE COMPETITORS LIKE TRAINS, OTHER AIRLINES MACRO FACTORS SUCH AS FLOOR PRICING POLICY, STAKEHOLDERS OF GOVERNMENT ETC INCREASING COMPETITION BETWEEN PROVINCES & CITIES AND INCREASING NEED FOR REVENUE MANAGEMENT & WITHIN LIMITED SPHERE OF ACTION DUE TO CAPITAL CONSTRAINTS AND RUNNING AS A SUBSIDIARY OF A POTENTIAL COMPETITOR ARE SELF-EVIDENT XIAMEN AIR DIFFERENTIATION ...
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...Chapter 9 * What are the characteristics of e-marketing—be able to explain them in the context of how a real-world or hypothetical business is able to capitalize on them. - E-marketing- The strategic process of distributing, promoting, pricing products, and discovering the desires of customers using digital media and digital marketing. - Characteristics of e-marketing: Addressability- The ability of a marketer to identify customers before they make a purchase. Example- digital media technology makes it possible for customers to identify themselves and provide information about their product needs and wants before their purchase. Social Network- Web-based meeting place for friends, family, coworkers, and peers that allow users to create a profile and connect with other users for purposes to get acquainted, to keeping in touch. Example- By becoming “friends” with other consumers on these social networks, companies are able to gain more access to consumer preference. Interactivity- Allows customers to express their needs and wants directly to the firm in response to its marketing communicators. Example- Having a feedback page that the firm offers to customers. Accessibility- The ability to obtain digital information. Example- Firms can go to different websites to request ideas for new products. Connectivity- Use of digital networks to provide linkages between information providers and users. Example- Is one of the key contributions of social networking, connecting...
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