...Marketing principles Week 5: ch 6 Customer-driven marketing strategy:Creating value for target customers Consumer behaviour and consumer markets - Most companies have moved away from mass marketing and towards target marketing – identifying market segments, selecting one or more of them, and developing products and marketing programs tailored to each. - Companies must design customer-driven marketing strategies that build the right relationships with the right customers. Customer-driven marketing strategy Definition of market segmentation - The process of analysing a market with the aim of directing marketing focus towards smaller segments of buyers with distinct characteristics or behaviours that might require separate marketing strategies or mixes. Segmenting a market consists of ... - dividing the market into distinct groups of buyers (segments) - that are as similar as possible within each segment but clearly distinct from other segments - in order to adapt the company’s marketing-mix to each market segment. Why segment? Buyers in any market differ in their wants, resources, locations, buying attitudes and buying practices. Segmentation allows companies to divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively. Segmentation: Bases and variables for segmenting markets Geographic segmentation- Divides buyers into different geographical units such as nations, regions, states, LGAs, cities...
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...Week 1 Introduction to law Australian legal system * The first primary source of law is legislation, known as statutory law (parliament law) E.G Goods act or Consumer law such as section or act 1.1 * The second source of law is case law, which is also known a precedent Law E.G contract law (offer, acceptance, etc) * Doctrine of law which is when the court would revise a past case that relates to the issue to determine the verdict of the current case * Common law Week 2/3 State Court System * Supreme court * County court * Magistrate court * tribunal court Contract defined * Agreement that the law will enforced * offer+ acceptance + intention + consideration = contract * contract law is a case law Types of Contract * Simple contract (written, partially written, partially spoken, Spoken) * Formal Contract Week 4 Contract definition * Offer and acceptance together constitute agreements, Clarke v Earl * Two presumptions test for the existence of intention 1st presumption is domestic or social in nature (do not usually involve legal relationship, not legally bounding) domestic contract: {Balfour v Balfour} {Cohen v Cohen}, {Murphy v Simpson} Social agreement: Coward v Motor Insurers Bureau 2nd presumption is the commercial in nature( this can be legally binding) Edwards v Skyways Rebutting the presumption of Intention * {McGregor v McGregor}, {Merritt v Merritt}, {Wakeling v Ripley}...
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...As the emerge of a large number of immigration from all over the world to America with their "American dream," it truly had shaped American's society with varities of demographics. Different demogrpahics tend to desire and demand different ways of marekting strategy. In chapter 4, page 110, textbook describes demographics as, "Demographics descirbe a population in terms of its size, distribution, and structre." Since America is becoming more diversified with many different demogrphics, for every business marketes, it is important to know their tastes and it is also important to position what they really demand and how they want them to be delievered. Each demogrpachis may share different beliefs, cultures, political views, and religion. It's...
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...hand, Bharat invovles poverty, Illetracy at high levels, Corruption, Mismanagement, Violnce between releigions and like that. So in this way whosoever desires to enter in the indian market must realize both the faces of this country. They should realize the serious challenges of doing business here like segmenting the market properly, Understanding country's social and cultural issues, getting through government beaurocracy and understading economic and political situation. There have been bunch of examples of companies who have tried to enter in Indian markets without taking care of these issues and have failed badly. Now before understanding Indian Marketing Environment, it is important to understand what is Marketing Environment. Marekting Environment consist of factors and forces outside or inside the organzation that affect its business in the market. The marketing environment is divided into tow different environments. 1) Micro Environment: It consist of factors lose to the company that have a direct impact on the organization strategy. This includes company's suppliers, distributors, customers and competitors. 2) Macro Environment: It consists of larger societal forces. An\d these are beyond the control of the organization. These shape the characteristics of the opportunities and threats facing a company. For example, Economic, Cultural, Political, Demographic and Technological. a. Demographic Scene • Close to one billion population • Growth rate over 2% per...
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...Consumer narratives can be found and obtained from social media, online sources and traditional news. Some examples of on line sources are Amazon, Yelp and blogs. Surveys are another mean of collecting consumer consumption information, by asking customers to elaborate on their personal experience with a product. These consumer narratives collect data provided by a consumer and most channels of collecting data provide personal unsolicited opinions. By writing a narrative a consumer is expressing the phenomenal activity of consuming a product. The consumer relates all of the products characteristics to some sort of meaning that affect their life (Holt, 1995). Research believes that pre-defined information of a product has significant affect on the view of the product further affecting the purchasing decisions of a consumer (Gräbner, Zanker, Fliedl, Fuchs, 2012). Managers can walk away with key information on their product and services. They can create a relationship and connection with the consumer by communicating through advertising and providing services which provide positive relations with the costumer. Real emotions and experiences are offered by a consumer based on the emotions triggered by the consumption of a particular product or service (Grayson, 1997). Consumer narratives tend to bias certain marketing experiences. The logical perspective of the product, advertising or service received affects the emotional outcome of the consumer (Holt, 2012). Management can...
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...chron.com/advantages-disadvantages-traditional-marketing-25573.html (n.d.). Introducing the History of Marketing Theory and Practice. In Marketing-A Critical Textbook (pp. 14-15). Retrieved from https://us.sagepub.com/sites/default/files/upm-binaries/37775_02_Eliss_et_al_Ch_01.pdf Kokemuller, N. (n.d.). What Are the Benefits of Marketing for Companies. Retrieved November 17, 2015, from smallbusiness.chron.com: http://smallbusiness.chron.com/benefits-marketing-companies-61300.html Pros & Cons of Traditional vs. Social Media Marketing. (n.d.). Retrieved November 2015, 2015, from http://kreaciomedia.com/: http://kreaciomedia.com/pros-cons-traditional-vs-social-media-marketing/ Traditional Marketing. (n.d.). Retrieved November 17, 2015, from Marekting-schools.org: http://www.marketing-schools.org/types-of-marketing/traditional-marketing.html Yurovskiy, V. (n.d.). Pros and Cons of Internet Marketing. Retrieved from...
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...Product and Brand Strategies Cola Wars Continue: Coke and Pepsi in 2010 1. Why, historically, has the soft drink industry been so profitable? Coca Cola was formulated in 1886 by a pharmacist in Atlanta who started to sell it in drug stores as a ‟portion for mental and physical disorders.“ Five years later the Asa Candler acquired the formula for Coca-Cola syrup which was a well-protected secret of the company. He also granted the first bottling franchise which grew qucikly. In the following years a lot of imitations were fight agressively by court for protecting their carbonated soft-drink (CSD) with its special flavour. Later on Coca Cola was advertised as a ‟lifestyle“ product and the international business began to develop. Pepsi was founded in 1893 and they also adopted a franchise bottling system which built up a big network very quickly. About 20 years later Pepsi went bankrupt and later on they declared bankrupcy the second time. However business went on and Pepsi built up a marketing strategy ‟Twice as much for a nickel, too.“ Pepsi step for step gained market shares and became the second behind Coca Cola. The competition in the soft drink industry began to grow. The soft drink industry consists of bottlers and suppliers. One fact which supports the profitability of the soft drink industry is that there are only two relevant players Coca Cola and Pepsi who have enough power for setting rules. The rivalry between both can be seen as a copmpetitive...
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...Sales assignment Cover page MSc in Digital Marketing (Module code MKT42000) Module: Sales and Sales Management Lecturer: John Collins Assessment 1. (In no more than 1200 words) – worth 20% of overall course assessment as mentioned in the course outline Companies excel by practicing 1 of 3 strategies: Product leadership innovation and the best quality goods and services are offered Operational excellence – low cost and process efficiency are delivered Customer intimacy The best total solution (service/relationship building) Your brief Select a company for each strategy mentioned above. (i.e. one company per strategy) . (i.e. one company per strategy) Advise the sales manager of the sales method they should be using for each company. Explain clearly why you believe that this method is appropriate and why other sales methods are inappropriate. Advise the sales manager as to the type of salespersons they should be recruiting. For one company only Using the SPIN Model (i.e., Situation, Problem, Implications, Need) prepare a list of questions you would use if selling to a buyer. Finally, using the Formula Selling model prepare a list of questions you would use if selling to a buyer where this model is appropriate. Background Sales Methods Stimulus ‐ Sales/No Sales Formula Selling ‐ AIDAS SPIN – Situation, Problem, Implications, Need NAME- MARK FITZGERALD STUDENT NUMBER-12254208 E-MAIL- mark.fitzgerald@ucdconnect.ie Word count- 1,297 excluding...
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...hand, Bharat invovles poverty, Illetracy at high levels, Corruption, Mismanagement, Violnce between releigions and like that. So in this way whosoever desires to enter in the indian market must realize both the faces of this country. They should realize the serious challenges of doing business here like segmenting the market properly, Understanding country's social and cultural issues, getting through government beaurocracy and understading economic and political situation. There have been bunch of examples of companies who have tried to enter in Indian markets without taking care of these issues and have failed badly. Now before understanding Indian Marketing Environment, it is important to understand what is Marketing Environment. Marekting Environment consist of factors and forces outside or inside the organzation that affect its business in the market. The marketing environment is divided into tow different environments. 1) Micro Environment: It consist of factors lose to the company that have a direct impact on the organization strategy. This includes company's suppliers, distributors, customers and competitors. 2) Macro Environment: It consists of larger societal forces. An\d these are beyond the control of the organization. These shape the characteristics of the opportunities and threats facing a company. For example, Economic, Cultural, Political, Demographic and Technological. Demographics Environment It is the study of the peoplein terms of their age, gender...
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...1.0 COMPANY BACKGROUND In 1936 John Sather grocery shop burned, after that he began to distribute cookies in bulk around Round Lake, Minnesota. As time passed by, his son Kenneth joined the business and implements value buying with packages of cookies and candies such as almond barks of four packages for $1.00 and distributed to five counties. Besides cookies and candies, Sathers expended their production lines to nut productions in 1960’s. By the early 1960’s, Sathers convinced to get business by distributing cookies and candies products to Kmart grocery shops which cost two bags of $1.00. This established Sathers original ‘TWO for ONE’. Through Kmart groceries distributions, Sathers candies distributed nationwide by 1972. In early 1990s, Sathers owned nut and candy manufacturing plants in Hopkins and New Orleans respectively and film printing manufacturing company which was based in Rogers, thus increased their packaging capabilities. At this time, Sather employed approximately 1500 manpower, at all manufacturing and distribution centre’s. In 1992, robotic facilities were introduced in manufacturing sector to systematic operation until palletization. Sathers centralize their operation centre in Round Lake, in order to monitor manufacturing plants, distribution centers and printing plant systematically. The systematic managements and computerized system enable telemarketing tracking, monitoring, account and also recording more efficiently whenever the distribution...
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...University of International Business & Economics School of Business MBA Fall Course MARKETING MANAGEMENT Syllabus 营销管理教学大纲 授课时间 2011年9月-2012年1月 教 师 熊 伟 学 生 Full-time MBA 2011 E-mail 发布课件 mkt_mba_full@126.com 提交作业 mkt_mba_xw@126.com Tel 10-64494372 1. Outline and Objectives Marketing Management is a core subject in the business program, and it has been designed for those students majoring in Marketing, as well as those taking this course as their formal, academic venture into this discipline. Participants in the program would be expected to recognize that marketing is a total system of business action and should be seen as the key element in the running of any business. This course could enable students to better appreciate the role of marketing in individual firms as well as in the wider community by exposing them to theories and basic concepts. Upon completion of this course, it is expected that students should: be able to identify and explain the important concepts in marketing; understand how marketing integrates with other areas of business, especially in a dynamic business environment; be able to apply these concepts in case situations, particularly in a Chinese context and, therefore, to enhance competence in the analysis of real world’s marketing; develop the ability to confidently and meaningfully analyze marketing problems; be equipped with...
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...CARDBURY SCHWEPPES LIMITED MARKETING PLAN i Marketing plan ii Table of Contents EXECUTIVE SUMMARY ............................................................................................... 4 MARKETING OBJECTIVES ................................................................................................. 4 PRODUCTS OR SERVICES .................................................................................................. 5 PROJECTED OUTCOMES .................................................................................................... 5 SITUATION ANALYSIS ................................................................................................. 5 COMPANY ANALYSIS/INTERNAL ANALYSIS ..................................................................... 8 TECHNOLOGICAL COMPETENCY/EXPERTISE .................................................................... 9 MACRO-LEVEL MARKET (INDUSTRY) ANALYSIS ........................................................... 10 PRODUCT/SERVICE ANALYSIS ........................................................................................ 11 MARKET SEGMENTS ....................................................................................................... 12 MAJOR COMPETITORS/PARTICIPANTS ............................................................................ 12 PROJECTED MARKET GROWTH/MARKET SHARE OBJECTIVES ........................................ 13 EXTERNAL ANALYSIS ..........................................
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...http://www.guardian.co.uk/lifeandstyle/2003/jul/19/shopping.features 17/03/13 11.52am The card up their sleeve It sounds good - loyalty cards entitle us to freebies or cash simply for shopping at our local superstore. Of course, retailers get something in return: a heap of information about us we might prefer them not to know. That's before they get started on the new tags that track you and what you buy. Rachel Shabi investigates Every time you reach the checkout in the two biggest supermarket chains, it's the same question: have you got a card? It can get irritating, but nonetheless we have willingly signed up to their reward schemes - in droves. According to market researchers TNS, around 85% of UK households have at least one loyalty card. We've accepted the membership rules of these innocent-looking, points-mean-prizes clubs: you show us some loyalty, say the retailers, and we'll give you nice bonuses in return. That loyalty, on the face of it, is based on how much you spend with one particular retailer. Sure, the rewards aren't huge but, as Tesco likes to put it, "Every little helps." Besides which, we in the UK love bargains, and getting something for nothing even more. But the question is: how much does the nothing really cost? It is not simply a matter of choosing to be "loyal", now synonymous with "open your wallet", to one supermarket over another - the cost is in having your purchases scrutinised and analysed in staggering detail by the loyalty card retailers...
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...MARKETING DIRECT (Note de curs) Conf. univ. dr. Călin Vegheş Marketingul direct poate fi definit ca un ansamblu de concepte, tehnici şi instrumente de marketing, concretizate într-un demers orientat direct, personalizat şi interactiv către consumator, urmărind generarea unei reacţii cuantificabile a acestuia (concretizată în cumpărarea unui produs sau serviciu, solicitarea unor informaţii suplimentare din partea organizaţiei, furnizarea de informaţii despre caracteristicile şi comportamentul său de cumpărare şi consum, interacţiunea cu punctele tradiţionale de marketing şi/sau vânzări ale organizaţiei) şi crearea unei platforme relaţionale de marketing pe termen lung. Instrumentele utilizate de către marketingul direct sunt în bună măsură similare celor specifice marketingului „tradiţional”, similaritatea menţinându-se şi la nivelul noţiunilor şi conceptelor de bază folosite. Concretizarea conceptelor, tehnicilor şi instrumentelor specifice o reprezintă campaniile de marketing direct, proiectate şi realizate în vederea atingerii unor obiective specifice. Este esenţială precizarea că nu se poate vorbi despre campanii-tip care să soluţioneze probleme-tip. Deşi cadrul general al acestora este comun, ceea ce le separă în mod decisiv este, dincolo de datele concrete ale fiecărei situaţii în parte, creativitatea celui sau celor care le proiectează şi le realizează, fapt care conferă acesteia o poziţie determinantă pentru succesul campaniei. Elementele de referinţă pentru ansamblul...
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...FEASIBILITY OF ESTABLISHING A FRUIT JUICE SELLING CHAIN IN DHAKA CITY i FEASIBILITY OF ESTABLISHING A FRUIT JUICE SELLING CHAIN IN DHAKA CITY Prepared for: Prof. Abu Yousuf Md. Abdullah Institute of Business Administration Course Instructor, M101 Principles of Marketing Prepared by: GROUP 8 Md. Mainuddin, ZR 23 Abdullah Al Azad Adnan, ZR 47 Tasnuva Sultan, RQ 48 Shafquat Ahmed, ZR 39 Institute of Business Administration (IBA) University of Dhaka January 03, 2009 ii January 03, 2009 Mr. Abu Yousuf Md. Abdullah Professor Institute of Business Administration (IBA) University of Dhaka Dear Mr. Yousuf: This letter is regarding our final report for M101 Principles of Marketing, entitled “Feasibility of Establishing a Fruit Juice Selling Chain in Dhaka City”, and due January 03, 2009. After doing extensive research on the topic and interviewing people from walks of life, we have found out that it is certainly not impractical if not feasible, and interestingly enough, people, in general, are intrigued by this idea. We believe that this report will aid in the future study of the topic and add new information to the established concepts and perceptions about fruit juice selling industry in Bangladesh. The purpose of this report is to explain and figure out the key factors that have an effect on the viability of the fruit juice selling chain in Dhaka city. As specified in the research proposal we submitted earlier, the report begins with an elaborate...
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