...The age demographic rose from an average age of 48 in 2007 to an average age of 51 in 2012. Porsche’s targeted marketing efforts focus on reducing the average age of the Porsche owner and increasing the number of female owners. Porsche provides an example of an automotive icon focusing on demographics using age and gender. The “Engineered for magic, every day” campaign, in part, targets women with an image of a mother in a Porsche 911 in front of a school with the text reading school bus. Additionally, Porsche uses tennis star Maria Sharapova as a spokesperson to engage a younger female audience. The results in the last two years indicate a growth from 8% to 15% in female purchasing the Cayenne CUV and Panamera four-door sport sedan primarily. Psychographic Psychographic segmentation uses psychology to increase understanding of consumers’ wants and needs. Porsche uses a psychographic segmentation approach dividing the segment based on behavioral elements, such as psychology, lifestyle, personality traits, and values to gain deeper insight of the consumer. The same demographic can possess different behavioral elements. Customizing Messages to Specific Psychographic Profiles Psychographic profiling provides Porsche with the ability to customize the messaging to target the specific psychographic profiles developed by Porsche. The top gun profile consists of an ambitious and driven individual who cares about power and control expecting to be noticed. The elitist profile, includes...
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...Development and Implementation of Business Marketing Plan for success Amid an increasingly turbulent and competitive business environment, strategic marketing planning is typically referred to as the management discipline which enables the firm to improve its competitiveness by becoming more responsive and adaptable to changing market conditions. This research paper provides an understanding of how all the key principals can be applied in the smaller business, in the form of practical framework for plan development. Most literature on a marketing plan begin with how to generate a marketing plan. One has to market a product or service that a customer wants. The product or service will work to avoid any legal repercussion. Make sure that research and development has been performed before a company starts the marketing campaign. Determine why your core customers buy your service and product instead of what they purchase can be valuable information into your marketing plan. The end result of any purchasing activity will be the choice to purchase a product or service. Once this information has been determined, core customers will start to filter the process they take into consideration for their sacrifices to include time, money, knowledge, and affinity. Note that comprehending the customers filtering process and their resources can be very helpful information to a marketing opportunity. Introduction When developing a Marketing Plan, one has to market a product or service...
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...Classic Airlines and Marketing MKT/571 August 6, 2012 Dr. Isaac Owolabi Classic Airlines and Marketing Classic Airlines is the fifth largest airline in the world and faces the same challenges that continue to plague the airline industry. These challenges are the rising costs of labor and fuel, a decrease in consumer confidence, and fierce competitive pricing. Although Classic remains profitable their share price in the past year has decreased by 10% and customer confidence has also declined resulting in a 19% decrease in Classic Rewards members (University of Phoenix, 2010). The board of directors of Classic Airlines in an effort to prevent further financial crisis have mandated a 15% cost reduction across all departments within the next 18 months. Classic’s CEO, Amanda Miller, has requested Kevin Boyle, Chief Marketing Officer (CMO) to develop a marketing plan to lure back Classic’s frequent fliers. Although there are a number of marketing concepts found in this week’s readings that could be applied to address the challenges faced by Classic Airlines the two concepts that will be covered in the following paragraphs are the marketing concept and the holistic marketing concept. Marketing Concept. Unlike earlier marketing concepts such as production, product, and selling that focuses on the product or service the marketing concept focuses on the demands, wants, and needs of the customer (Kotler & Keller, 2006). The purpose of this concept is to find the...
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...Part 1 Integrated marketing communications is an approach that businesses use to achieve the objectives of a marketing campaign using different promotional strategies. This includes recognizing the value of comprehensive plan to evaluate the roles of communications disciplines of public relations, advertising, sales promotion, personal selling, and direct marketing, all of which ensure maximum communication impact. Typically, it can be described in simple terms as the application of brand messaging across traditional and nontraditional marketing strategies. The messaging strategies are unified and are customer centered. The basic reasons for messaging or communication are to inform, persuade, assist other efforts, remind, and add value (Madhavaram, Badrinarayanan & McDonald, 2005). Johnson & Johnson (2005) stipulates that there are various elements used for integrated marketing communications. These include advertisement, sales, promotion, public relations, personal selling, and direct marketing. Advertising is one of the most powerful tools of marketing communication. It refers to a paid presentation and promotion of goods, services, and ideas by an identified sponsor. Advertisement is regarded as the life blood of modern business because of the ability to reach a huge number of consumers. Adverts inform consumers of the quality of a product; thus, attracting a huge number of consumers. When done in the right way, it has the ability to convince consumers of the effectiveness...
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...Project Importance of Marketing and Promotion for Commercial Banks in Bangladesh Prepared for: Dr. M Mosleh Uddin Faculty Member School of Business North South University Acknowledgements: This report has been written as a partial requirement for the MBA Program at North South University in the Summer of 2011. We would like to thank our instructor Dr. M Mosleh Uddin for his help and guidance during the process of writing this report. We would also like to thank him for supervising us and providing us all the necessary information during this study. We would like to thank all the respondents for giving time to fill up the research questionnaire. Finally, We would like to express our gratitude to all the people, who have supported us during the process. Ahmed Wasiful Alam H M Iftekhar Hasan Abstract: The importance of financial intermediaries in the development of the overall economy of the country cannot be described in short. From the inception of civilization the banking sector dominates the economic development of a country by mobilizing the savings from the general people and channeling those savings for investment and thus economic development and growth. With the emergence of banking sector in Bangladesh the government has also come through different activities to reform and revitalize this industry. The issues of marketing and promotion in the banking...
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...Guide to Calculating Your Marketing ROI Dear Fellow Marketing Professional, For all marketers, accountability ranks as job number 1. For some time now, the trend within marketing and promotion has been one of channel fragmentation – a trend that will continue as new avenues and platforms are established and adopted. Assessing current and potential opportunities means properly evaluating the impact to a company’s bottom line. In short, calculating the return on investment (ROI) for every marketing expenditure to ensure that you’re making informed decisions. Prominent Placement’s goal with this guide is to help organizations objectively assess their marketing opportunities and expenditures so they can effectively align activities with results. The basic premise lies in properly calculating acquisition costs and ROI so that different channels can be directly compared in terms of efficiency and effectiveness. Prominent Placement has created a hypothetical scenario to illustrate how this guide can be used in assessing an organization’s marketing expenditures. We have also provided blank worksheets at the end for your convenience. We hope you find this guide both useful and valuable – we’re interested in your feedback, so let us know your thoughts! Best wishes, The Prominent Placement Team ©2001-2006 Prominent Placement, Inc. www.prominentplacement.com 404-373-9727 6 Steps to Calculating Your Marketing ROI Please note: for the sake of simplicity, figures within the hypothetical...
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...Social Media Services Proposal for: [Client Business Name] Agility Marketing LLC is pleased to provide Client with the following social media proposal. The intent of the proposal is to deliver a complete social media marketing solution designed to address the following business goals: 1) Increasing the number of on-site customers 2) Gaining recognition as a fitness industry expert with an emphasis on the strength and conditioning field Recognizing that the stated business goals require different strategies and different metrics, this proposal is broken down into two distinct, non-concurrent phases. Agility Marketing LLC will provide strategy, development, consulting and execution to bring all aspects of Client’s social media marketing efforts into alignment with unified goals and purpose. Phase I – Increasing the number of on-site customers In support of Phase 1, Agility Marketing LLC will provide social media consulting and execution services in the following areas: 1) General analysis of current customers and local competitors. a. Define target customer(s) with Client either before or in conjunction with the analysis 2) Analysis of Client’s online presence on the following platforms: Platform Twitter Facebook Blog YouTube Email Marketing Website Examples of Analysis Tools (but not limited to) Google Analytics; SocialBro; Bit.ly Facebook’s Insights; EdgeRank Google Analytics YouTube Insights Email Marketing Provider’s reports Google Analytics, Alexa 3) Through consulting...
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...focus on a limited number of goals, stress the company’s major policies and values, and define the company’s major competitive scopes. In addition, good mission will have long term view. 2. What key points do you think need to be included in the mission statement? The range of products and applications that a company will supply. The type of market or customers a company will serve. The range of regions or countries in which a company will operate. 3. Should a mission statement also be a marketing tool? Yes, the mission statement should be a marketing tool. The mission statement is like a brand and branding makes the object more memorable. Words that should speak clarity over cleverness and meaning over beauty. 1. Why is it important for a company to have a well written mission statement? Well written mission statements provide employees with a shared sense of purpose, direction, and opportunity. They focus on a limited number of goals, stress the company’s major policies and values, and define the company’s major competitive scopes. In addition, good mission will have long term view. 2. What key points do you think need to be included in the mission statement? The range of products and applications that a company will supply. The type of market or customers a company will serve. The range of regions or countries in which a company will operate. 3. Should a mission statement also be a marketing tool? Yes, the mission statement should be a marketing tool. The mission...
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...Youssef Bouzoubaa October 17th, 2015 Marketing Yourself in Today’s Competitive Job Market Marketing and Promotions Manager Job Description: A promotions Manager is responsible for supervising promotions programs to incentivize the point-of-sale. He combines advertising with promotional deals to attract consumers and clients to buy products. A Promotions manager works with marketing and sales departments to create promotions and advertising campaigns. He is also responsible for developing and launching discounts and coupons through social media or other means. Salary range: The salary range may vary depending on a number of factors including industry, company size, location, years of experience and level of education. According to the website Salary.com, the annual salary range of a Promotions Manager in the United States falls between $60,448 and $113,165 with a median of $86,665. According to the website Glassdoor.com, the annual salary range of a Promotions Manager in the United States (in Miami more precisely) falls between $63,000 and 123,000$ with a national average of $72,258. According to the website Payscale.com, the annual salary range of a Promotions Manager in the United States falls between $25,406 and $86,007 with a median of $46,433. Summary of informational interview: A friend introduced me to a Promotions Manager that was in charge of promoting a Pico projector. I first asked him about his educational background and experience. I then asked...
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...Direct marketing From Wikipedia, the free encyclopedia For distribution and retail sales of comic books, see direct market. | This article needs attention from an expert on the subject. Please add a reason or a talk parameter to this template to explain the issue with the article. Consider associating this request with a WikiProject. (February 2011) | Marketing | Key concepts | Product marketing Pricing DistributionService Retail Brand managementAccount-based marketing EthicsEffectiveness Research SegmentationStrategy Activation ManagementDominance Marketing operations | Promotional contents | Advertising Branding Underwriting spotDirect marketing Personal salesProduct placement PublicitySales promotion Sex in advertisingLoyalty marketing Mobile marketingPremiums Prizes | Promotional media | Printing Publication BroadcastingOut-of-home advertising InternetPoint of sale Merchandise Digital marketing In-game advertising Product demonstration Word-of-mouth Brand ambassadorDrip marketing Visual merchandising | v t e | | Wikibooks has a book on the topic ofMarketing | Direct marketing is a channel-agnostic form of advertising that allows businesses and nonprofits to communicate straight to the customer, with advertising techniques such as mobile messaging, email, interactive consumer websites, online display ads, fliers, catalog distribution, promotional letters, and outdoor advertising. Direct marketing messages emphasize a focus on the customer, data...
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...is 'Marketing' Marketing are activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure. The four 'Ps' of marketing are product, place, price and promotion. Now hospitals are facing the same world of transparency and competition, and they would do well to consult the marketing playbook hotels and other service businesses use to enhance their customers’ experience. Marketing theory is driving a shift from provider empowerment to customer empowerment. In the past customers did not have the expertise, or access to information, to judge service professionals. What a lawyer, teacher, or doctor said was taken at face value. Now the efficacy of that information is checked online and experiences are shared with other customers. Marketing techniques A marketing strategy is an overall marketing plan designed to meet the needs and requirements of customers. The plan should be based on clear objectives. A number of techniques will then be employed to make sure that the marketing plan is effectively delivered. Marketing techniques are the tools used by the marketing department. The marketing department will set out to identify the most appropriate techniques to employ in order to make profits. These marketing techniques...
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...Chapter9: E-Marketing and Advertising 9.0 Introduction: 1 9.1 Characteristics of marketing communications via Internet 1 9.2 Advertising Models for the Web 1 Types of Adverts 2 9.3 Measuring Effectiveness of an E-commerce Web site 2 9.4 Exercise: 3 9.0 Introduction: E-Marketing is the online management process responsible for identifying, anticipating, and satisfying customer requirements profitably. 9.1 Characteristics of marketing communications via Internet a) Interactivity-Opportunities for customer to ‘pull’ message (traditionally ‘push’ has dominated) b) Intelligence- Low cost market research about markets c) Individualization- messages can be tailored to individuals (point casting -v- broadcasting) - also known as personalization d) Integration- How Internet allows organizations to contact customer, & how this fits with existing means of communication and how customer can contact organization e) Industry restructuring-few middlemen f) Independence of location- how marketing developed for one nation (culture), work in another Marketing involves brands. For a brand to be successful people have to be aware of it, it must be of good quality, and should have some loyal customers. 9.2 Advertising Models for the Web The basic questions are: 1. How can content best be delivered to customers? 2. Will advertising techniques used in print and electronic broadcast media work on the web? 3. Will standard methods used to track the success...
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...Summary2 Introduction 3 Analysis of Marketing Situation 3 Relevant factor and trends 3 Competitor analysis 3 Customer analysis 4 Company analysis 4 SWOT analysis 5 Strategy and Recommendation 5 Marketing strategy – “Supplemented Mobile Marketing” 5 Pros and Cons 7 Financial Calculations/Evaluation and Control 8 Contingency Plan 9 Appendices 11 Executive Summary In late 2004, adidas has launched the Respect M.E. line of sports apparel with hip-hop star Missy Elliot in Europe, and is preparing to introduce it in the United States. The line has been promoted via mobile advertising, online, and with an upcoming face-to-face event in Miami. The focus of the campaign is the mobile effort, which is seen as an inexpensive and yet potentially wide-reaching marketing strategy. This is especially important for adidas, as their advertising budget is only about 2/3rds the size of their greatest competitor in this segment, Nike. The determination about how to proceed with the launch in the U.S. revolves around the benefits and limitations of mobile media, including the technological limitations and social considerations. The suggested strategy for adidas is to maintain its strong mobile presence, supported by online content and tie-ins, but to supplement this approach with a limited infusion of “traditional” advertising. The goal of this hybrid strategy is to advertise via a widespread and tested mainstream medium the existence and benefits of the mobile marketing campaign, thus increasing awareness...
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...Questions What are the components of a modern marketing information system? What are useful internal records? What makes up a marketing intelligence system? How can companies accurately measure and forecast demand? Marketing Information System A marketing information system (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. 3 components of MIS Internal records Marketing intelligence Marketing research (Chapter 4) Internal Records Order-to-payment cycle Sales information Databases, data warehousing, data mining Marketing Intelligence System A marketing intelligence system is a set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment. The internal records system supplies results data, but the marketing intelligence system supplies happenings data. Steps to Quality Marketing Intelligence Train sales force to scan for new developments Motivate channel members to share intelligence Hire external experts to collect intelligence Network externally Utilize a customer advisory panel Utilize government data sources Purchase information Collect marketing intelligence on the Internet Demand Measurement The marketer’s first step to evaluate marketing opportunities is to estimate market demand and company...
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...Identifying quantifiable elements to evaluate, monitor and control your marketing plan begins with establishing goals. Establishing quantifiable goals that must be met within a certain time frame gives you context within which to evaluate whether your marketing campaigns are bringing in enough leads or sales. Based on whether you are on track to meet your goals or not, you can adjust your plan accordingly. In most marketing plans, the quantifiable elements are the number of new leads or sales brought in. Step 1 Set quantifiable goals for your marketing plan. Common goals include increasing brand awareness, store or website traffic and the number of leads or sales. Step 2 Create new marketing campaigns or tweak existing ones to help you reach the goals you set in the marketing plan. Step 3 Review last year's sales records so you have something to which to compare this year's sales. An increase in leads or sales over last year's numbers will indicate that your current marketing campaigns are working. Step 4 Set metrics for tracking the direct impact of each campaign on its ability to help you reach your marketing goals. Common metrics include number of click-throughs on an online ad, number of new sales, number of new leads or percent increase in traffic to the store. It's okay if the metrics directly mirror your goals because campaigns are only run to help you reach your overall goals. Step 5 Analyze the results of each campaign based on your metrics. Determine whether...
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