...concept of Marketing Segmentation & Target Marketing. Market Segmentation is defined as: “The process of dividing a market into distinct subsets of consumers with common needs and selecting one or more segments to target with a distinct marketing strategy” Market segmentation is a strategy that involves dividing a larger market into subsets of consumers who have common needs and applications for the goods and services offered in the market. These subgroups of consumers can be identified by a number of different demographics, depending on the purposes behind identifying the groups. Marketing campaigns are often designed and implemented based on this type of customer segmentation. One of the main reasons for engaging in market segmentation is to help the company understand the needs of the customer base. Often the task of segregating consumers by specific criteria will help the company identify other applications for their products that may or may not have been self evident before. Uncovering these other ideas for use of goods and services may help the company target a larger audience in that same demographic classification and thus increase market share among a specific sub market base. Market segmentation strategies can be developed over a wide range of characteristics found among consumers. One group within the market may be identified by gender, while another group may be composed of consumers within a given age group. Location is another common component in market...
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...MACRO FACTORS AFFECTING BUSINESS ENVIRONMENT SUBMITTED BY: AAYUSH VERMA INTRODUCTION A business firm is an open system. It gets resources from the environment and supplies its goods and services to the environment. There are different levels of environmental forces. Some are close and internal forces whereas others are external forces. External forces may be related to national level, regional level or international level. These environmental forces provide opportunities or threats to the business community. Every business organization tries to grasp the available opportunities and face the threats that emerge from the business environment. The term business ‘typically’ refers to the development and processing of economic values in society. Normally, the term is applied to portion of economic activities whose primary purpose is to provide goods and services for society in an effective manner. It is also applied to economics and commercial activities of institutions which having other purposes. Business may be defined as “the organised effort by individuals to produce goods and services to sell these goods and services in a market place and to reap some reward for this effort.” Functionally, we may define business as “those human activities which involves production or purchase of goods with the object of selling them at a profit margin”. Business organizations cannot change the external environment but they just react. They change their internal business components...
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...MACRO FACTORS AFFECTING BUSINESS ENVIRONMENT SUBMITTED BY: AAYUSH VERMA INTRODUCTION A business firm is an open system. It gets resources from the environment and supplies its goods and services to the environment. There are different levels of environmental forces. Some are close and internal forces whereas others are external forces. External forces may be related to national level, regional level or international level. These environmental forces provide opportunities or threats to the business community. Every business organization tries to grasp the available opportunities and face the threats that emerge from the business environment. The term business ‘typically’ refers to the development and processing of economic values in society. Normally, the term is applied to portion of economic activities whose primary purpose is to provide goods and services for society in an effective manner. It is also applied to economics and commercial activities of institutions which having other purposes. Business may be defined as “the organised effort by individuals to produce goods and services to sell these goods and services in a market place and to reap some reward for this effort.” Functionally, we may define business as “those human activities which involves production or purchase of goods with the object of selling them at a profit margin”. Business organizations cannot change the external environment but they just react. They change their internal business components...
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...undertaking research and reporting on the results of such inquiries. e) The Institute, singly or in collaboration with others, shall bring to bear the world's vast store of knowledge in science, engineering and other realms on the problems of the industry and the community in order to make the Philippines and the world a better place. MISSION a 1. To prepare students for a professional Engineering Management career including a vital role in the overall management of organizations with an orientation to manufacturing, engineering, technology or production. 2. To provide students knowledge and skills in the areas of management of technology, product and process, quality, organizational management, operations management, program management, marketing and finance. 3. To educate...
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...business unit (SBU) level and marketing level. The foremost requirement while understanding and developing this process is to carry out environmental scanning to study the external and internal factors that affect the decision in the development of the strategies and the tactics. Environmental scanning implies the process of examining the open system (external environment) and closed system (internal environment), monitoring the results and distributing it to the key managers at the right time and the right place with the required information. For a sound strategic decision to be formalized by the marketers it is very important for the firms to scrutinize their business processes by analyzing the internal and the external environment that it constitutes. Purpose of Marketing Environment Analysis: • Understanding the opportunities and threats is possible by environmental study • Strategic responses to the environment is spotted by the analysis • Examining the environmental factors provide insights into the future perspective of the strategies harnessed. • The favorable and the unfavorable trends and the events can be observed and studied in a methodical manner. • To have a proper balance between the environments and the business units, which include the marketing department which is the core activity that helps the business unit to respond accordingly. SWOT Analysis: This study involves the understanding of the External Environment which includes...
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...External Environment LEARNING OBJECTIVES LO1 Identify factors in a company’s broad macro-environment that may have strategic significance. Recognize the factors that cause competition in an industry to be fierce, more or less normal, or relatively weak. Become adept at mapping the market positions of key groups of industry rivals. Learn how to determine whether an industry’s outlook presents a company with sufficiently attractive opportunities for growth and profitability. chapter 3 LO2 LO3 LO4 38 Part 1 Section B: Core Concepts and Analytical Tools In Chapter 2, we learned that the strategy formulation, strategy execution process begins with an appraisal of the company’s present situation. The company’s situation includes two facets: (1) the competitive conditions in the industry in which the company operates—its external environment; and (2) its resources and organizational capabilities—its internal environment. Charting a company’s long-term direction, conceiving its customer value proposition, setting objectives, or crafting a strategy without first gaining an understanding of the company’s external and internal environments hamstrings attempts to build competitive advantage and boost company performance. Indeed, the first test of a winning strategy inquires, “How well does the strategy fit the company’s situation?” This chapter presents the concepts and analytical tools for zeroing in on a single-business company’s external environment. Attention...
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...iPhone 5 Report | | Assessing and analysing the three levels of the marketing environment | By Simona Zhelyazkova Vasileva, Student Number 201230259 | 2. Executive summary The report provides an analysis and evaluation of the three levels of the marketing environment of iPhone 5. It analyses the relationship between the influence of internal, macro and microenvironment on the product development and the potential success of iPhone 5 in the UK market. The internal environment will be examined by concentrating on product’s strengths, weaknesses, opportunities and threats and its innovative features, using a SWOT analysis. A comparison between previous Apple products and iPhone 5 will be presented. The actors close to the company, the external forces that affect the company’s ability to serve its customers and the exact way they exert an influence on product development will be taken into consideration. The substitutes, which present a threat for iPhone 5 developments and success will be analysed. In addition, the report will take into account previous problems that Apple Company had faced and will attempt to give some solutions to these problems. After presenting detailed information and the results of the investigation of the different forces that exert an impact on iPhone 5 developments, the report will conclude whether the product would be successful. Recommendations for improving the product weaknesses and enhancing the market strategy of the Apple will be...
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...of Internet marketing about the digital marketing and what is e-commerce and e-business. Then, evaluate the marketing mix which is the 7P’s of the internet marketing. This assignment also want us to compare and explain about the marketing tools that being use by the website to promote the web page. This task examine interactive order processing. This task is based on the concept online shopping, Love.com.my. One of the favourable websites which offer a lot of advantages to their customer in order to place an order for any product especially flower and gifts. Task 1.1 Digital marketing is a broad term that refers to various and different promotional techniques deployed to reach customers via digital technologies. Digital marketing is also embodied by an extensive selection of service, product and brand marketing tactics, which mainly use the Internet as a core promotional medium, in addition to mobile and traditional TV and radio. Digital marketing is known as Internet marketing, but their actual processes different. (Digital Marketing) Internet marketing means different things to different people. It is refers to the strategies that are used to market a product or service online, marketing strategies that include search engine optimization and search engine submission, copywriting that encourages site visitors to take action, web site design strategies, online promotions, and email marketing and that is just hitting the highlights. As for the digital marketing is considered...
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...institutions are called environment of an organisation. In this assignment, we would try to illustrate the importance of environmental analysis for a business organisation. The conceptualisation of environment holds the central position in this discussion. Thompson uses the term ‘operating or task environment, or inner layer’ for immediate or internal environment (Thompson, 1997). It relates to that domain where staff from one organisation interacts with people from others in their day to day business relationships (Douglas Brownlie, 1994b). Brownlie employs the term ‘remote or general environment, or outer layer’ for external or macro environment (Douglas Brownlie, 1994b). This refers to those factors which are outside of company’s direct control but have significant direct and indirect influence on company’s operations. For a company to be successful, it needs to be fully aware of its environment as it allows an organisation to respond to the needs and requirements in its environment. ‘Whilst organisational decision makers may wish to believe that they are the masters/mistresses of their organisation’s destinies, in reality that destiny is shaped by governments, customers, suppliers and other stakeholders, including competitors’.(Roger Cartwright, 2002) The starting point here is the conceptualisation of environment. By environment we mean those, ‘factors which are not only outside the system’s control, but which determine, in part how the system performs’ (Churchman, 1968)...
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...three parts customer satisfaction that states “We are an established company striving to satisfy customers by meeting their demands of quality, responsiveness, and competitive pricing. Each customer is #1” , team satisfaction that states, “Management and employees are committed to cooperating as a team for the purpose of profitability and gratification of a job well done” and community satisfaction “We will provide jobs in a clean, safe, environmentally sound atmosphere and be an active participant in community affairs” (Dell, 2010). 1. External Analysis: The primary industry of Dell is personal computer and computer equipments that are evolving with the passage of time due to constant advancement of technology. The dynamic nature of environment offers certain opportunities to Dell while posed certain threats to various player of the market including Dell. The competitors of Dell can be grouped into two categories: those who sold their products directly to customer and those who use intermediary channel to distribute their products....
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...three parts customer satisfaction that states “We are an established company striving to satisfy customers by meeting their demands of quality, responsiveness, and competitive pricing. Each customer is #1” , team satisfaction that states, “Management and employees are committed to cooperating as a team for the purpose of profitability and gratification of a job well done” and community satisfaction “We will provide jobs in a clean, safe, environmentally sound atmosphere and be an active participant in community affairs” (Dell, 2010). 1. External Analysis: The primary industry of Dell is personal computer and computer equipments that are evolving with the passage of time due to constant advancement of technology. The dynamic nature of environment offers certain opportunities to Dell while posed certain threats to various player of the market including Dell. The competitors of Dell can be grouped into two categories: those who sold their products directly to customer and those who use intermediary channel to distribute their products. 1.1. PEST...
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...Think Strategically This page intentionally left blank T H I N K STRATEGICALLY Xavier Gimbert Associate Professor, Business Policy Department, ESADE Business School © Xavier Gimbert 2011 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6-10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2011 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and...
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...exist for future growth outlined below. DESPITE ITS STRENGTHS THE COMPANY FACES CHALLENGES • • • Structural Changes – the internet is globalising & changing retailing; Macro Economic Headwinds –retail sales have been flat and rents, labour, utilities & financing costs are increasing; Challenging Australian Consumer Credit Markets - the Company’s card portfolio is exposed to prevailing weak discretionary retail spending. This could result in a halving of EBIT contribution from this business in FY14 when the alliance with American Express converts to a share of underlying profits. DAVID JONES WILL ADDRESS THESE CHALLENGES & GROW VIA A “3 POINT STRATEGY” 1. Transformation: The Company is in the process of transforming: • into an Omni Channel Retailer (OCR) modelled on international department store best practice. The Company is investing in technology and realigning its processes & structures. The Company will increase its online SKUs from 9,000 to 90,000 before Christmas 2012. Its OCR offering will integrate the shopping experience across sales channels (i.e. physical stores, web-store, mobile applications, contact centre, social commerce platforms) to enable customers to choose how and when they engage with David Jones, supported by integration and investment in its marketing channels (traditional and digital); • its Customer Service & Engagement...
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...employs professionals in tea growing, Research &Development teams, testing, blending as well as marketing. So to fulfill the criteria of the report, we have chosen Lipton tea as health and wee-being product. The report highlights different marketing theories applied in the case of Lipton. The report also clarifies the position of it in the market. Furthermore it describes where and how the consumers want this product. The report is separated into four parts incorporating primary as well as secondary sources of data. The questionnaire approach is used as primary source of data. Books, journals and online materials are used as secondary sources of data. This report gives some insights on Lipton as a brand of tea. So it can be referred in future for the further research. Most of the information is used based on the past events which can be seen as shortcoming of the report. PART A 1. Introduction to major macro environment forces Macro environment forces can be explained as external environment and characterized in two main ways. The first is that the elements of these external forced do not have immediate or sudden impact in the performance of any organisation. And the second is that if these elements influence an organisation, it’s impossible to control those (Baines, Fill & Page 2008, p.51). Kotler, Burton, Deans Brown and Armstrong (2013, p.142) note that ‘the macro...
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...UNIT 8: MARKETING IN HOSPITALITY Get assignment help for this unit at assignmenthelpuk@yahoo.com LO1 Understand the concepts of marketing in a services industry context Core concepts: definition of marketing, customer needs, wants and demands, product and services markets, value, customer satisfaction/retention, quality, cost/benefits, efficiency/effectiveness, profitability, the growth of consumerism, strategic/tactical marketing, reasons for growth, marketing as a business philosophy, relationship marketing, changing emphasis of marketing Marketing environment: micro environment of the company; stakeholders eg suppliers, intermediaries, owners, financiers, customers, competitors, local residents, pressure groups; macro environment demographics eg economy, society, ecology, technology, politics, legal, culture; strengths, weaknesses, opportunities and threats (SWOT) analysis; political, economic, social, technical (PEST) analysis; Porter’s competitive forces Consumer markets: central role of the customer, customer culture, models and types of behaviour, consumer orientation (internal and external), competitor orientation, decision process, value chain, value and satisfaction, long-term relationships Market segmentation: principles of segmentation, targeting and positioning, segmentation bases eg geographic, demographic, behavioural, lifecycle stage, income, gender Ethics and social responsibility: sustainability, social audit, public relations, legal and regulatory considerations...
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