...UNIT 1: MARKETING ICEAP PRE-MBA COURSE WEEK 1 ADAPTED FROM STEPHEN SILBIGER’S THE 10-DAY MBA OBJECTIVES • To familiarize learners with the 7 steps of Marketing Strategy development • To introduce and explore the Buying Process • To introduce and examine the concept of Product Life Cycle • To introduce and explore the concept of Perceptual Mapping • To familiarize learners with the Marketing Mix and the 4 P’s • To investigate the concept of: • • • • • Positioning Distribution Channels Advertising Promotions Pricing • To familiarize learners with Marketing Economics THE 7 STEPS OF MARKETING STRATEGY DEVELOPMENT • The marketing strategy process is a circular function: 1. 2. 3. 4. 5. 6. 7. Consumer Analysis Market Analysis Review of the Competition and Self Review of Distribution Channels Preliminary Marketing Mix Development Evaluate the Economics Revision and extension of steps 1-6 until a consistent plan emerges THE 7 STEPS OF MARKETING STRATEGY DEVELOPMENT • The order of the 7 steps may be rearranged by the marketer depending on the situation. • This is one of the most comprehensive models for marketing strategy development. Others include: 1. STP (segment – target – position) 2. The 4 C’s (consumer behavior – company analysis – competitor analysis – context) STEP 1: CONSUMER ANALYSIS • All people do not have the same needs. • The goal of consumer analysis is to identify segments or groups within a population...
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...First Term Project On Friday February 7, 2014 I interviewed the IT Casino Operations Manager (Grace), regarding a project she was involved with that did not go as planned. Grace was very willing to share an experience she had while working for a different organization. Grace worked in the finance division at a not for profit organization. This was a mid-sized organization. The average employee age was about 30 years old. The average tenure was 12 years. The organization supported continuing education, by provided tuition reimbursement to those who qualified. They also provided leadership training both onsite, and via webinars. The project Grace worked on was a transactional type of project. The purpose was to replace the in-house general ledger and investment accounting with a third party vendor. The current system was nearing its life cycle and needed to transition from an unsupported Oracle database to SQL. This was seen as a cost savings for in-house developers, future FTE growth savings for Accounting and Finance, and a more expedient way to upgrade the system. This was expected to be a heavily integrated system. The problem that prompted this project was that the in-house general ledger and investment system was created by Oracle programmers who were no longer with the company. The NT Operating system and version of Oracle were beyond end of life with no support, and the proposed integrations and upgrades to the system could not be performed or supported with the existing...
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...Chittagong Independent University (CIU) Chittagong Independent University (CIU) MARKETING MIX PROCEDURES: - A Case Study on “BSRM Xtreme 500W” Submitted to: Mr. Abu Sohel Mahmood Assistant Professor Independent Business School Chittagong Independent University Submitted by: Shaikat Saha ID: 15151009 ACKNOWLEDGEMENT I like to take the opportunity to express my sincere gratitude to those without the blessings and cooperation this report would not have been possible. First of all, I am grateful to Almighty Allah who has created all the things and make it possible to enjoy them for our good selves. He also gives me opportunity to finish this report in time. I like take the opportunity to thank my supervisor – Mr. Abu Sohel Mahmood, Assistant Professor, Independent Business School, Chittagong Independent University, for his guidance, constant and spontaneous support and constructive suggestion. Without his help this report could not have been possible. This is the way by which I can extend my heart felt thanks to the contributors of generous help I have received from many sources of BSRM Group of Companies. I like to express my tributes and gratitude to BSRM Group of Companies, Head Office, Ali Mansion, Sadarghat Road, Chittagong, Bangladesh for giving me the opportunity, appointment for discussions and collection of data from internal sources. I will never forget the contribution of all the staff and managers of BSRM Group of Companies, Head...
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...Transforming Steel Retail Hardware Distribution R P Manatkar Sr. Manager – Channel Management and Product Promotion rmanatkar@wires.tatasteel.com Marketing & Sales, Tata Steel, Global Wires, Dattapara Road, Borivali (E), Mumbai 400066, India Abstract: The steel hardware retail supply chains in India are in ordinary state. Longer lead time, large inventories, non availability of stocks; poor retail network, poor infrastructure, and poor customer service are some of the issues faced by this industry. The different work entities in this industry are operating in silos. It requires integration to beat bloodthirsty pressures to remain competitive. In spite of advances in Telecom/ Information Technology, there is hardly any change in the operations of hardware shop supply chain owners due to various reasons. The advances in operations management, communications and information technology, as well as a rapidly growing array of logistics options, leaves good opportunity for hardware suppliers to reduce operating costs and improve overall efficiency. This paper highlights the practical issues faced by retail hardware suppliers / channel partners and proposes solutions to address the issues. It also highlights some of the best practices of the organised retail which could be useful to retail hardware channel members. The right Supply Chain solution can create a strategic competitive advantage by streamlining the distribution network, leveraging industry best practices tailored...
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...marketing plan is a business document written for the purpose of describing the current market position of a business and its marketing strategy for the period covered by the marketing plan. Marketing plans usually have a life of from one to five years. PURPOSE: The purpose of creating a marketing plan is to clearly show what steps will be undertaken to achieve the business' marketing objectives. CONTENT OF MARKETING: A marketing plan for a small business typically includes Small Business Administration Description of competitors, including the level of demand for the product or service and the strengths and weaknesses of competitors. 1. Description of the product or service, including special features 2. Marketing budget, including the advertising and promotional plan 3. Description of the business location, including advantages and disadvantages for marketing 4. Pricing strategy 5. Market Segmentation The main contents in marketing plan are: * Executive Summary Brief statement of goals and recommendations based on hard data. * Environmental Analysis Presents data on the market, product, competition, distribution, macro-environment. (Product fact book) S.P.I.N.S. Situation “Where am I”, Problem identification/Implications “What is happening”, Needs Assessment “Why is it happening”, Solutions “What can I do about it” Market Situation: Data on target market, size and growth for past years and each segment. Data on customer needs, perceptions...
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...Introduction Industry Profile India's telecommunication network is the third largest in the world and the second largest among the emerging economies of Asia on the basis of its customer base and it has one of the lowest tariffs in the world enabled by the hyper-competition in its market. Major sectors of the Indian telecommunication industry are telephony, internet and broadcasting. Today, it is the fastest growing market in the world. The total number of subscribers during July-2012 was recorded to be 679.05 million with an increase from the previous year of 0.25%. The total revenue of the Indian telecom sector grew by 7% to 283,207 crore (US$51.26 billion) for 2010–11 financial year, while revenues from telecom equipment segment stood at 117,039 crore (US$21.18 billion).The telecommunication sector continued to register significant success during the year and has emerged as one of the key sectors responsible for India’s resurgent India’s economic growth. Major sectors of telecommunication industry in India are telephony, internet and broadcasting. The primary regulator of telecommunications in India is the Telecom Regulatory Authority of India (TRAI). The mission of TRAI is to create and nurture an environment which will enable the quick growth of the telecommunication sector in the country. One of the major objective of TRAI is to provide a transparent policy environment. TRAI has regularly issued orders and directions on various subjects like tariff, interconnections...
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...point of view. Chan Jenn Ming Center of SNHU Programs HELP Collage of Art and Technology Kuala Lumpur, Malaysia Devinchan33@gmail.com Rashad Yazdanifard Center of SNHU Programs HELP College of Arts and Technology Kuala Lumpur, Malaysia rashadyazdanifard@yahoo.com Abstract In this fast-paced society, the social network has become one of the major channels for a company to engage with its customers. Social networking provides the platform for organizations to engage and find like-minded consumers. Therefore, social marketing is extremely important for an organization to influence their consumers’ behavior in order to increase its profitability. This marketing approach is often applied especially for online companies. Besides, the perspective of consumer to the company becomes the major reason to keep them loyal to a particular company. In this research paper, I will analyze how social media marketing can influence the profitability of an online company from a consumer point of view. Keywords: Social Media Marketing, Profitability, Online Company, Consumer point of view 1. Introduction With the development of the internet, everything can be done by just a simple click. Many successful companies which rely on the internet have been created, for example Facebook, Twitter, and Instagram. Internet provides the users accessibility to many services, from entertainment and personal use to education and business matters. Because of the widespread use of social network...
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...bank compared to a MNC 12. Conspicuous consumption 13. Study of awareness and acceptibility of UPVC windows and door systems 14. Opportunities of Financing the NANO’s in Bangalore 15. Changing trends in FMCG industry in India 16. A study of best HR practices in service industry 17. Fundamental analysis of Indian telecom companies 18. Study of consumer behaviour in automobile industry 19. customer buying behaviour towards insurance products 20. Promotion strategies followed in Insurance sector 21. Study on changing consumer preference towards organised retailing from un-organised retailing 22. study on “impact of advertising in B2B marketing” 23. Distribution network & general insurance industry 24. A study on distribution channels in aluminium industry 25. Study on strategies for promoting retailers’ brands 26. Study of operations & marketing of chemical goods in SSI 27. The impact of tax on electronic goods & products (industrial marketing) 28. Merchandising key account management in apparel exports 29. Effect of marketing in mobilization in BPO segment 30. Marketing in FMCG sector 31. E-marketing of financial services: Relationship approach 32....
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...nationalised bank compared to a MNC 12. Conspicuous consumption 13. Study of awareness and acceptibility of UPVC windows and door systems 14. Opportunities of Financing the NANO's in Bangalore 15. Changing trends in FMCG industry in India 16. A study of best HR practices in service industry 17. Fundamental analysis of Indian telecom companies 18. Study of consumer behaviour in automobile industry 19. customer buying behaviour towards insurance products 20. Promotion strategies followed in Insurance sector 21. Study on changing consumer preference towards organised retailing from un-organised retailing 22. study on "impact of advertising in B2B marketing" 23. Distribution network & general insurance industry 24. A study on distribution channels in aluminium industry 25. Study on strategies for promoting retailers' brands 26. Study of operations & marketing of chemical goods in SSI 27. The impact of tax on electronic goods...
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...potential development on the Marsden Wharf within Auckland’s waterfront district, BLume aims to become Australasia’s first Michelin Star restaurant and cater exclusively to the VALS types of Innovators and Achievers (Appendix 1.5), individuals with a high resource base, income and cultivated taste for the finer things in life. Despite Auckland restaurateurs’ claiming the market is ‘oversaturated’, the issuance of new licenses reflects a drastic increase in the popularity of the Wynyard, Britomart and Federal Street precincts, adjacent to Marsden Wharf. Perceptual mapping indicates an unoccupied space in the market for a high quality, exclusive fine dining restaurant that BLume will position itself within (Appendix 1.1). Catering to a maximum of 30 individuals, 6 nights a week, BLume will be developed at a cost of approximately 4.2 million NZD (based upon the reported cost of a similar restaurant development, Noma), to return annual revenues of 3.8 million and annual profits of 2.4 million NZD when operating at capacity. Auckland, the dominant economic centre of a politically and economically stable nation that attracts comparatively large volumes of tourists of western origin (Tourism New Zealand, 2013) provides a projected market segment size of 1.15 million individuals, of which BLume requires 0.87%, or 10000 customers annually to operate at capacity (Appendix 1.2). Incorporating a research and training facility to enable consistent new product and service development, the unique...
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...1. The relationship between organizational structure and organizational culture Organizational structure and organizational culture have a dependent relationship with one another. In the business world, management structure determines the behaviors, attitudes, dispositions and ethics that create the work culture. If a company's organizational structure is strictly hierarchical, with decision-making power centralized at the top, the company's culture will likely reflect a lack of freedom and autonomy at the lower levels. If a company's management structure is decentralized, with shared power and authority at all levels, the culture is likely to be more independent, personalized and accountable. The way a company allocates power and authority determines how employees behave. These choices manifest in a company's organizational structure and organizational culture. Organizational structure is the way a company arranges its management and lines of authority. It determines roles, responsibilities and the flow of information within the company. Work culture results from those decisions. Most companies use a hierarchical structure that looks like a pyramid on paper. The chief executive or president sits at the very top of the pyramid. His direct reports, usually the vice-presidents, are on a line under him. Their direct reports are on a line under them. The pyramid stretches outward and downward based on the number of levels of management the company needs to operate according...
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...focusing on data that he figured out how to peruse Chapter 8 in Lamb, et al. (2014), examines who the client is and how the showcasing group Numi made sense of? The business sector for any item is normally made out of a few portions. A "business sector" truth be told, is all purchasers of a specific item. What's more, shopper (end client), that makes a business sector are assorted client qualities and purchasing conduct. There are a few variables adding to shift attitude of customers. It is along these lines normal that various portions happen inside of a business sector. So as to catch this business sector for any item hеtеrogеnеous, sellers by and large fall or crumble in the business in various sub-markets/portions and the procedure is known as business sector division. Market division is the division of the business sector into homogeneous gatherings of clients; each responds distinctively to advancement, correspondence, estimating and other advertising blend variables. Business sector portions ought to be shaped in that way that diffеrеncе bеtwееn purchaser inside of every fragment is as little as would be prudent. Thusly, exceptionally portion can be tended to with a blend of separately coordinated advertising. Target business sector is a term that implies business sector fragment to which a specific decent or administration is promoted. It is described basically by age,...
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...1. The stage in the new product process that occurs first and has a pass ratio of 1:4 is the ________ stage. a) test marketing b) idea screening c) product development d) product soft launch 2. If Ming was interested in capturing distribution metrics for her retail organization, which of the following might she consider? a) Customer complaints b) Effective reach c) Share of shelf d) Trial rate 3. Creative strategies refer to the ________. a) amount of creative content in a communications message b) degree of innovation involved in the marketing of a product c) way marketers translate their messages into a specific communication d) novelty of a marketing communication 4. Top Gear is an award-winning British television series about motor vehicles, mainly cars. The show is presented by hosts who test drive new cars and provide reviews on the cars' performance, prices, and other factors. Which of the following personal communications channels is Top Gear closest to in description? a) Formal channel b) Sponsored channel c) Social channel d) Expert channel Find the final exam answers here MKT 571 Final Exam (Newest) 5. Mark feels that Shell delivers on its promises to supply the best gasoline possible to the public. His experiences with Shell have always been good, resulting in positive brand contact. Mark is most likely experiencing brand ________. a) parity b) alliance c) bonding d) essence 6. Robert is the owner of an automobile manufacturing...
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...management role you have to try to manage all of you resources to best of your ability. Management is basically problem solving. The different type of functions in management includes Planning, Organizing, leading and controlling. Planning is mapping out how to achieve a particular goal. Next step would be organizing, a manager needs to organize there assets and team member to carry out the plan that is in place. Also leading is important not just by the manager but by all member that are employed with the company. Leading involves communicating, guiding, motivating and encouraging the individuals that are presently working for you. After all of these components are in place a manager must also be controlling. The manager must continuously check the results of their team and make corrective action so that the plan can remain on track. Internal and external factors can affect many aspects of a company. Globalization opens a new market for selling and buying. Globalization is important for the growth and survival of a company in the global market place. Some of the internal factors of globalization can start on how the company would change the practices to compete on a global scale. You could also add in marketing strategies, customer service, development and production. Some external factors of globalization could include the environment that the company will have to a just to. Another big external factor for a company entering a new land of business could be the laws on how you can conduct...
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...ASOSIASI PENGELOLA PUSAT BELANJA INDONESIA (INDONESIAN SHOPPING CENTRES ASSOCIATION) Retail Trends & Challenges Retail Trends ….. • The market – Huge and Changing • The shoppers – Socially Shopaholics • The challenges – Raising competition and raising cost of doing business Retail Trends ….. • The market – Huge and Changing • The shoppers – Socially Shopaholics • The challenges – Raising competition and cost Indonesia has it all ….. GDP Growth l Accelera>ng real GDP growth ► 4.5% in 2009, 6% in 2010, 6.2% in 2011 4th largest popula>on in the world with 235 m inhabitants Growing urbaniza>on Middle class(1) now represents over 40% of the popula>on vs. 25% 10 years ago Size of middle class has been growing strongly at a 7.5% CAGR over the last 10 years to reach 23 m households GDP per capita to reach USD3,000 by 2012, allowing for greater disposable income and faster modern retail growth l l l l l Growing Middle Class Popula>on l l Food Retail Industry l l ...
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