...Integrated Marketing Communications Strategy MKT 505 August 27, 2010 Introduction The purpose of marketing communication is to effectively inform consumers about the benefits and values of the company’s products, thereby influencing their attitudes and buying behavior (Keegan, Green, pg. 434). The need to be cost effective, to be customer driven, to deliver the best quality and to deliver that quality quickly are some of today’s global realities (Keegan, Green, pg. 543). The challenge of effectively executing this strategy across India and Vietnam is the reason why the marketing team has chosen to use the Integrated Marketing Communications (IMC) Strategy that will be covered in this paper. After careful research the team decided to go with the promotional mix such as advertising and sales promotions. This paper will consider these IMC elements; the similarities and differences to be implemented in both countries and the reason behind the choices. Advertising This is a paid form of communicated that persuades the people in a market area to take some action. Now the company will be using global advertising for their basic water products in both countries in addition to other regional campaigns. This will offer the company economies of scale in advertising as well as improving its distribution channels. This strategy has been taken because it will help leverage cost, increases product recognition, skills and eliminate duplications of efforts (Keegan, Green 437). Water...
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...Walmart and Integrated Marketing Theresa Perrey MKT498/Integrated Marketing Strategies June 10, 2013 Heather Teague Integrated Marketing Integrated marketing in its most basic terms means to combine all forms of communication and messaging with regards to a product or service. Now this may seem simple but it can be very complex and requires a great deal of effort and time, however the pay off can be great. By creating an integrated marketing plan a company has the opportunity to build competitive advantage, increase sales and profits, while reducing time and stress, and saving money (Burgess, M. 2013). The purpose of integrated marketing is to wrap the messaging about a product or service around target audience and help them move through the range of stages within the buying process. When a company forms an integrated marketing plan it will concurrently combine the product image, develop a dialogue and nurture the relationship with the target audience (Burgess, M. 2013). The value found with integrated marketing is that it can assist companies with increasing its profits through enhanced effectiveness. Simply stated, a combined message has more impact than a disorganized heap of messages. In a flooded market, a constant, combined and clear message will have a better chance of driving through the 'noise' of countless commercial messages which barrage consumers on an everyday basis. Integrated marketing will connect brand messaging together that will give the target...
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...Introduction Globalization is refers to a process in which enhance the interaction among people, companies and government of different nationalities through integrating their economic, financial, trade and communicational capabilities. As a result, those distinct world economies are converged in to one huge integrated and interdependent world economy With the emergence of globalization and as a result of diminishing trade and investment barriers, the domestic businesses got opportunities to spread their business throughout the world by entering to much larger international markets, in the form of international, multinational, transnational and as global corporations. And that’s where the concern of international marketing emerged. The efficiency and effectiveness in the international marketing strategies could enhanced through advanced communication such as social media and promotion by emails and transportation technologies where marketers can use logistic services such as DHL and FedEx, by mobility of finance in transactions could support using PayPal American express, visa and etc. When consider about the globalizations’ impact towards international marketing its essential to give priority to some concepts. Globalization of production, standardisation vs. adaptation, financial risks, Globalization of production In the phase of creating the customer value, where the international marketers need to concern on producing goods and services, globalization of production...
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...Savor Case Study Rhonda Hartz Bellevue University MBA 652: Marketing Strategy Professor Bates April 18, 2014 Case Recap Savor is an upper middle class restaurant located in Omaha, Nebraska. Savor also caters. Savor has been able to setup an ambiance that is often compared to that of a stylish New York or European bistro and it is also especially proud of the fact that it avoids “corporate” appearances. Savor contributes to the growth of local community by purchasing the freshest ingredients whenever possible from local businesses. Emphasis on wine pairing lies at the heart of the restaurant. Savor employees a prestigious culinary chef by the name Rob. Recently Savor hired Anna as restaurant and catering manager. Savor uses Integrated Marketing Communication approach utilizing social media and wine tasting events to prosper the catering business. The problem Anna faces is that despite the current market strategy, Savor’s catering business is often unknown to potential clientele and it has become a challenge in improving Savor’s catering business. Problem Identification From a restaurant standpoint, Savor is successful but it is struggling when it comes to growing catering business. It also has problems relating to space limitations, ineffective marketing strategy, catering business competition from strong competitors and a tight budget. Considerable attention is needed in the above mentioned problem areas to grow and prosper the catering business. Root Problem...
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...Marketing Business Plan Marketing Management 9-2-13 Truly Fit will be a community fitness center intended to help residents of Wellsville, New York and the surrounding communities to practice strength and conditioning programs to improve their health and better their lifestyles. It is intended for people of all shapes and sizes, from the highly specialized body builder to the elderly trying to maintain use of crucial muscles that may weaken with age. This fitness center is, by design, broad, general and inclusive. We will not specialize in one particular wellness routine or program, we will generalize in order to welcome all people. Athletic improvement in sports, achieving personal goals, and weight loss are just a few of the goals that may be achieved through a membership at Truly Fit. Truly Fit will be the only fitness facility in the area that is truly dedicated to engaging in the health and fitness needs of our community. This will be done through providing the highest quality equipment, constantly keeping our staff up to date on certifications, providing the highest quality equipment, constantly keeping convenient hours and a fun, social and friendly atmosphere. This is a new service to the area; therefore, it is in the introductory stage of the product life-cycle. Since the service is very new, an integrated market plan will help promote growth in members at the facility. Through marketing, sales of memberships will begin the growth portion of the...
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...Advertising Trends Advertising is a form of marketing used to persuade an audience to take or continue some action communication. The two most significant commercial digital marketing trends are content marketing and mobile marketing. Content marketing is any marketing that involves the creation and sharing of media and publishing content in order to acquire and retain customers. Mobile marketing is marketing with a mobile device like smart phones or IPods. “Content marketing makes up 29.2 percent of all commercial digital marketing trends, and content marketing makes up 15.1 percent of all commercial digital marketing trends.” (2013 Chaffey) Content marketing’s purpose is to attract and retain customers by consistently creating relevant and valuable content with the intention of changing or enhancing consumer behavior. It is an ongoing process that is best integrated into an overall marketing strategy. Content marking is core of communicating with customers without actually selling. Content marking is also called non-interruption marketing. “Instead of pitching your products or services, you are delivering information that makes your buyer more intelligent. The essence of this content strategy is the belief that if we, as business, deliver consistent, ongoing valuable information to buyers, they ultimately reward us with their business and loyalty.” (Content marketing 2014) There are seven business goals of content marketing such as “brand awareness or reinforcement, lead...
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...more and nearly 10 percent earn $100,000 or more” (Hawkins). African Americans are segmented as market leaders or market followers. Within those are generational differences which pose challenges when it comes to marketing because they don’t follow the stereotypical images that they have been subjected to. Many are “driving growth in income and purchase power through education and professional achievement. African Americans represent $799 billion in buying power, which is expected to grow by some 34 percent through 2011” (Hawkins). This fact gives lenders and real estate agents opportunity to implement specific marketing tactics. Internet usage among African Americans is on the rise, allowing marketers to leverage online-based advertising for example. Hispanics represent another major ethnic subculture and have diverse nationalities including people of Cuban, Mexican, Puerto Rican, South/Central America or any other Spanish ethnicity. “The Hispanic market is now the largest and fastest-growing ethnic subculture in the United States” (Hawkins). Hispanics are sensitive to nationality-based differences which can pose as a marketing challenge. Differences in language, acculturation and generational influences need to be considered when implementing a marketing campaign. As with African Americans, there are generational differences...
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...Create A Digital Marketing Strategy Tactics without strategy is the noise before defeat. — SunTzu There are still many companies that believe they don’t need to have a strong digital marketing strategy to be successful, and while they may be able to maintain or even grow their revenue, their customers are gradually moving to the internet to make buying decisions. That is why companies without a great digital strategy aren’t only leaving huge amounts of money on the table, they are losing customers to those that do. You need a Digital Marketing Plan. Any company no matter the size or industry can benefit from a strong digital marketing strategy. In this article we will be discussing some of the best practices in putting together a digital marketing plan that allows you to strategically outperform your competition and create results in the marketplace. Overview In digital marketing, like all forms of business, it is best to have your strategy defined before you dig in to implementation. So before you create your first Youtube video or Facebook group, lets begin by discussing what you need to think through: 1. Your target customer & the problems you are solving 2. Differentiation and branding plan 3. Customer assessment (where they are and where they will be) 4. Competitive analysis & timeline 5. Your tactical plan 6. Results and feedback Once you have figured out the following you can begin to think about which marketing channels will be...
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...Week 3 Strategy and Positioning Analysis Part 2 Joshelyn Wooten Kaelin A. Love-Smith Sophia Taylor Olando Hart MKT/421 July 19, 2016 Dr. Duane Scott * Describe how your marketing efforts and marketing mix will change with each phase in the product life cycle * Explain how the packaging you will use for your product or service will add value Marketing Strategies Used By Nokia Marketing Published: 23, March 2015 Nokia was founded by Fredrik Idestamin in 1865 as public limited company. Nokia is leading the cellular phone industry with around 38% of the market share, while Motorola, which is American based is having 12% of total market share. Nokia used to be a diversified conglomerate up till 1980 with business that includes pulp, rubber tire production, paper, telecommunication equipment, cable manufacturing, and consumer electronics. The geographic target market of Nokia was mainly limited to Scandinavia (70% market share) and US (33% market share) (123helpme, 2010). Nokia never enjoy a monopoly in any market including Finland and the company share is due to its competitive marketing strategy, state of the art product designing and manufacturing, pricing strategies and creative marketing campaigns. The company has constant record of launching new products that either have a low costs or cutting-edge technology. These two characteristics of the firm gives it competitive advantage and the company is still the most profitable company of the mobile-phone manufacturing...
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...Running head: KRISPY KREME DOUGHNUTS, INC.: A CASE ANALYSIS Krispy Kreme Doughnuts, Inc.: A Case Analysis Presented to By October 09, 2009 Table of Contents II. Table of Contents 2 III. Executive Summary 3 IV. Situational Analysis 5 A. Environment 5 B. Industry Analysis 5 C. The Organization 7 D. The Marketing Strategy 9 V. Problems Found in Situational Analysis 10 A. Statement of primary problem. 10 B. Statement of secondary problem 12 C. Statement of tertiary problem. 13 VI. Formulate, evaluate, and record alternative course(s) of action 14 A. Strategic Alternative 1 14 1. Benefits 14 2. Costs 15 B. Strategic Alternative 2 16 1. Benefits 16 2. Costs 19 C. Strategic Alternative 3 19 1. Benefits 19 2. Costs 21 VII. Selection of Strategic Alternative and Implementation 22 A. Statement of Selected Strategy 22 B. Justification of Selected Strategy 23 C. Description of the implementation of strategy. 23 VIII. Summary 28 IX. Appendices 29 A. Financial Analysis and Selected Tables 29 B. Reference List 32 Executive Summary Krispy Kreme Doughnuts, Inc., began as a family-owned business back in 1937, as an expansion of a pre-existing business, when Vernon Rudolph purchased a doughnut shop along with the now-famous secret recipe for making yeast-raised doughnuts. His doughnuts, which he delivered to grocery stores in the Winston-Salem, North Carolina area, quickly became...
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...1. Marketing Channels : MK42043E-1-RN. ECTS 5 Management of the firm's distribution function. Study of the structure, functions, interactions, and activities of marketing channels. Analysis and development of integrated physical distribution and logistics systems for the firm. This course explores the relationships among manufacturers, wholesalers and distributors, and retailers. 2. International Retail Marketing: MK42041E-1-RN. ECTS 5 Understanding the evolution of consumer attitudes and purchasing patterns both in developed and developing countries. Studying how retail companies operate to attract consumers, to differentiate themselves from competitors, to develop at the national and international level. 3. Geopolitics and International Relations: GS42027E-2-RN. ECTS 5 The objective of this seminar is to introduce the students to the analysis of international relations and geopolitics. Geopolitics and international relations provide tools to understanding the contemporary world. The nature, function and components of geopolitics, the power of emerging countries, the role of international trade and the influence of regional organizations will be scrutinized from various theoretical perspectives that have helped to conceptualize and understand contemporary international affairs. 4. Service Marketing : MK42031E-2-RN. ECTS 5 The objective of this course is to supplement basic marketing and marketing strategy courses by focusing on problems and strategies specific...
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...concepts of marketing for a relevant services industry This research is about the concepts of marketing. I will therefore start by introducing the key terms marketing and marketing management. (Allen, 2007) stated that "Marketing pertains to the interactive process that requires developing, pricing, placing and promoting goods, ideas or services in order to facilitate exchanges between customers and sellers to satisfy the needs and wants of consumers". (Kotler et al, 1996) suggested that "Marketing is the process used to determine what products or services may be of interest to customers and the strategy to use in sales, communications and business development'. The American Association of marketing (Gronroos, 1989) define marketing management...
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...Consumer traits and behavior Team A Psy/322 Consumer traits and behavior Several topics will be discussed throughout this presentation starting with psychological and social processes that may influence consumer behavior. It has been determined that the consumer play the role of demander and care receiver through good harmony with consumer behavior as the bases of emotion. The corporation plays the role of supplier and philanthropist, through effective corporate strategy and policies based on reason. Finally public policy plays the role of guider and regulator based on the law. The dynamic relationships among consumer behavior, corporate strategy, and public policy are explored here through feedback with a system perspective and dynamics of cause-effect. Corporate ethics fell into five stages, since the 1960's the social expectations of the public with regard to corporations has increased substantially. Carroll (1979) stated that corporate achievement is essential for revaluating a business and those certain social criteria are also important. Consumers want to know about a corporation. If consumers have a good impression of a corporation and they have access to positive information and understand what a firm thinks, says and tends to do in relation to others make it also likely to strengthen the perception of corporate social responsibility. Corporate profits are positively and directly affected by consumer purchase behaviors...
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...retailers are adjusting in order to thrive in this new ever-changing future. It is written in the case that nowadays, consumers are getting harder to please, they would like to avoid the hassle to virtually visit the store in person because sometimes the stores are crowded with people tending to either appreciate the products or fighting for discount stuffs. On the other hand, they also fear for buying those products that look good on the Internet but not so much in real life. To meet the needs of the customers in an Internet thriving future, retailers are facing difficulties maintaining a balance between their virtual stores and on-line Internet channels. It is a challenge for traditional retailers to adjust their marketing strategies since their old strategies are mostly to focus on traditional ways in selling the products....
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...April 9, 2014 Article Review Evidence-based Marketing Article Summary The practice of using evidence as the base for making decisions has been employed successfully in many industries such as healthcare, nursing, criminal justice, ect.. Unfortunately, in the world of marketing, “there has been no explicit consideration of the applicability of the concepts of evidence-based practice or evidence-based management” yet (Rowley, p. 523). The article, then, provides information on challenges practitioners face when deciding whether to implement the evidence-based marketing theory and explores some alternative relationships between researchers and practitioners that may improve the use of the evidence-based methods. Using evidence for marketing decision-making is well recognized as a helpful, more accurate method of making better decisions. As suggested in the article, the type of such evidence in this method should be research evidence that is “reviewed and summarised in a systematic way that allows reasonably clear conclusions to be reached about what we know and do not know” and “integrated into the decision-making process in an explicit way such that its relevance and usefulness to the decision is made clear” (Rowley, p. 526). However, this method has only been tested mainly from academic researches and may lack applicability to businesses due to the gap between researchers and practitioners. Rowley cited in the article four distinct barriers practitioner faces when trying...
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