...Mm522 Study Guide 1. The marketing mix: what is it, what elements/tools are parts of this concept; examples of how used to support marketing planning. Philosophies toward the marketplace, as in Selling, Marketing, Product, Societal; differences among these approaches, how success is measured; examples. (TCO A) The marketing mix is probably the most famous marketing term. Its elements are the basic, tactical components of a marketing plan. Marketing mix elements are the 4 P’s: price, place, product, and promotion (sometimes a 5th P: people). The 4 C’s: customer solution, customer cost, convenience, and communication. The offer you make to you customer can be altered by varying the mix elements. So for a high profile brand, increase the focus on promotion and desensitize the weight given to price. Needs vs. Demands. Product: refers to tangible, physical products as well as services. Product decisions including: product variety, quality, design, features, brand name, packaging, sizes, services, warranties, and returns. Price decisions including: pricing strategy, suggested retail price (list price), volume discounts and wholesale pricing, cash and early payment discounts, seasonal pricing, bundling, price flexibility, credited items. Place (distribution) decisions including: distribution channels, marketing coverage (inclusive, exclusive, or selective), specific channel members, inventory management, warehousing, distribution centers, order processing, transportation, inventory...
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...· Analyze the effect of channel management decisions on the marketing of your selected product or service. LaToya · Select appropriate distribution channels for your product or service and address costs in terms of placement, shipping, and middlemen. LaToya Channel Management Decision: The channel management decision has a huge effect on the marketing of our new home pick up service. What is channel management? According to the web channel management is “The process by which a producer or supplier directs marketing activity by involving and motivating parties comprising its channel of distribution.” (www.businessdictionary.com) The channel of distribution is when goods or services flow from the vendor to the customer. Therefore, channel management decisions are needed to insure this process does not get interrupted. For example, the United Parcel Service (UPS) is a competitor that offers their customers the same home pick up service, so it is imperative that we manage our channels of distribution effectively. The main advantage of effective channel management decisions is it ensures that we keep an edge on the competitors and gain more customers in all markets. Appropriate Distribution Channels In the Parcel market there are various distribution channels we can utilize. There are four types of distribution channels: producer-customer, producer-retailer-customer, producer-wholesaler-retailer-customer, and producer-agent-wholesaler-retailer-customer. ...
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...Submitted in Partial Fulfillment Of the Requirements for Journal Critique #3 SM 325: Sport Marketing, Promotions, and Fundraising Instructor: Wooson Kim Michael Cassidy (Student) The Byron Nelson Championship is a very prestigious Pro Golf Association (PGA) tournament on tour. The Dallas, Texas tournament tends to draw more of an older crowd and now is trying to reach the markets of eighteen to thirty-four year olds (Smith, 2012). The PGA event will team up with ProPac Marketing as they introduce a marketing plan they are call “Argyle Army” (Smith, 2012). The campaign will hit many common areas around Dallas including a meet and greet and a Texas Rangers game (Major League Baseball) (Smith, 2012). Dallas is a very good area to advertise the PGA Tour event in because the city attracts close to 20,000 people per week (Smith, 2012). One of the things that the Byron Nelson Championship did was use its internal data sources to find out the age demographics of the crowd that attends their event. By using their data-base they were able to figure out that the majority of their crowd was in the older population, and they needed to reach out to the younger age demographic. Internal data sources can include sales records, inquiries, accounting records and website registrations (Hardy, Mullin, & Sutton, Data-based Marketing and the Role of Research, 2007, pp. 110-112). They are very easy sources to gather quick information about the people that are attending...
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...[pic] Introduction to Marketing 33:630:301:05 Classroom: Tillett Hall – Room 116 Session: January 23, 2012 – May 7, 2012 Time: Monday Evenings 6:40 – 9:30 Course Web Page: http://blackboard.rutgers.edu Professor: Edward Filippazzo E-Mail: eaf@andromeda.rutgers.edu Phone: 973-464-1385 Office Hours: By Appointment Textbook: Kerin, Hartley, and Rudelius, Marketing (10th ed.), McGraw-Hill, 2009. Study Aid on the Web: http://highered.mcgraw-hill.com/sites/0073404721/student_view0/ Course Description The objective of this course is to provide students with an introduction to marketing and the basic areas that comprise this discipline. Course content includes review of marketing theories, concepts, key terms and tools used in the consumer, reseller, services and industrial markets. Also addressed is the integration of marketing in the broader business context and the role it plays in today’s society. Course Format This course will use the textbook above to guide lectures, class discussion, assignments and exams. Multiple chapters from the text will be discussed during each class lecture. The lectures will discuss the theories and concepts, tools and techniques used in marketing, as well as provide examples of how these have been applied. Lectures will include content and discussion beyond what is provided in the textbook. Attendance and Participation ...
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...Article Summary The article that I read about marketing was The 7 Ps of Customer Retention Marketing. I found this article on a marketing website with tons of articles for people to read and for help on their products and companies. The author is Karl Wirth who is the CEO and a co-founder of Apptegic, a customer intelligence and marketing automation solution that enables online businesses to understand each customer and respond in real time. Karl Wirth’s message was basically explaining of how the 7 P’s of marketing apply to customer retention marketing. Karl Wirth’s stated, By acting on the 7 Ps of Customer Retention Marketing, you can keep your customers; make their interactions with your business successful; and in so doing make your business more successful. The evidence I found to support this theme was that they stated all 7 points of marketing in it. Everyone is use to the 4 P’s and what they do and how we use them, but they used three more that I have not heard of being used. Many CPG companies are now using online and social mediums to build direct relationships with their customers This article is very smart and logical and provides great information. It provides the four P’s: Product, Place, Price, Promotion. Yet it provides 3 more P’s to the reader, People, Processes and Positioning. I have never heard of those three. It states that People are the most important. Retaining customers is about building relationships, and relationships are about people. For Processes...
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...internally to establish as a high quality achiever. In this connection Walton is doing pretty good in this highly competitive electronics market. And there is a tremendous role of the dealers to promote the products through effective salesmanship to the customers. They are of vital importance for every company because they make a huge contribution in marketing and promoting of electronics products. So the more effective and efficient the sale forces are, the more profit they can make for their own as well as the company. This research program is undertaken especially to judge the market position of Walton. In spite of its sincere efforts, excellent image and credibility, the company is pressurized by the growing and aggressive competition in the industry. Faced with increasing competition in the market and huge sales target Walton realized the fact that there is no way but to be more aggressive in marketing. Though happy with the existing marketing system yet Walton management wants to keep their eyes open for unseen days and wants to develop their existing marketing system to cope with changing environment. Therefore Walton management has assigned to prepare a survey on The Market...
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...Organized by The Future Marketers Association Department of Marketing Management University of Kelaniya The Department of Marketing Management The Department of Marketing Management is a part of the Faculty of Commerce and Management of the University of Kelaniya. It currently offers a Bachelor of Business Management Marketing Special Degree - B.B.Mgt (Marketing) which is a sought after degree program by students and has positioned itself as a dynamic, innovative and market oriented academic body, committed to produce graduates who are armed with knowledge and skills to face the challenges of society and the industry. As a result of this multi disciplinary approach, in addition to a comprehensive academic program, the Department puts much emphasis on the practical training of undergraduates in the industry, encouraging and urging the students to participate in various workshops, guest lectures by eminent industry personnel and by themselves organize and carry out events such as the Inter School Business Cup. As such, the Department joins hands with private sector at the undergraduate level itself to conduct its activities and also solicits help from them to sponsor some of its activities where funds are not present. The Profile of Future Marketers Association (FMA) The Future Marketers Association (FMA) is a formally structured student body in the University of Kelaniya attached to the Department of Marketing Management nourished with a commendable history of 10 solid years. This...
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...[Type the company name] | Marketing channels | 81,105, 117, 93, 69 | | [Type the author name] | 9/21/2010 | Marketing channel: A set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user Channel level: A layers of intermediaries that the perform some work in bringing the product and its ownership closer to the final buyer. Channel conflict: Disagreement among marketing channel members. Vertical marketing system :A distribution channel structure in which producer wholsers , and retailers act as a unified system one channel members owns the others ,has contracts with them or has so much power that they all cooperate Future vertical marketing system divided in to two .They are 1.conventional marketing system 2.vertical marketing system Vertical marketing system: A vertical marketing system comprises of the producer, wholesaler and retailer acting as a unified system. One channel member, the channel captain owns the members and has so much power that they all cooperate. It arose as a result of strong channel member’s attempts to control channel behaviour. There are three types of VMS: CORPORATE, ADMINISTERED AND CONTRACTUAL. CORPORATE VMS: A corporate VMS combines successive stages of production and distribution under single ownership. For example Sears obtains over 50% of the goods it sells from companies that it partly or wholly owns. ADMINISTERED VMS: ...
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...Assignment Introduction to Business (BUS 101) Fall 2013 Marketing Major Before doing this assignment I did not think about my major subject in my educational career. I had no idea about finance, marketing, management, accounting etc. as making major subject. When I am trying to know about these, the marketing major initially appealed to me because marketing offers a wide range of professions to candidates aspiring to be business leaders of tomorrow and is considered one of the most exciting and glamorous professions in the business field. Marketing is the process by which companies create value for customer and build strong customer relationships in order to capture value from customer in return [1]. The marketing major has skill like logical approach, creativity, zeal to sell, willingness to take risks, outgoing personality, communication skills, reasoning skills, problem solving skills, make and implement decisions etc. and these skills are more powerful than the other major subject if anyone want to do business or make an interesting career. The marketing field is booming with nearly a fifth of all Bangladeshis now employed in marketing related positions. Marketing salaries may vary by company position and region and salary figures change constantly [2]. In general, entry-label marketing salaries usually are only slightly below those for engineering and chemistry but equal or exceed starting salaries in economics, finance, accounting, general...
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...MY EXPECTATIONS ABOUT MARKETING MANAGEMENT AND MY ESTIMATION ON HOW IT WILL HELP ME IN MY CAREER OR ENTREPRENEURSHIP PATH Marketing management is explained by the American Marketing Association (1985) as the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives. As a managerial function marketing management is not solely important to the marketing manager only but also necessary to any individual who wishes to develop him or herself in his or her carrier and business. In pursuing this course, I expect to be equipped with knowledge in advertising, promotion, pricing and the distribution of ideas, goods and or services so as to be able to make an informed contribution when decisions concerning marketing in to be made. Knowledge in marketing management will equip me with skills that will make me innovative in my career by knowing which ideas to bring forth to get things working right. Specifically, ideas that will bring positive changes rather than following every decision on marketing made because of lack of knowledge in the field. I also expect to acquire knowledge in managerial skills that will widen my career options. Knowledge in marketing management may guarantee my selection for a job placement in the area of marketing or even better my chances of selection for placement in my career field because of the added knowledge which will give...
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...2006. 3) Show how their staffs prior and planned initiatives and expenditures contributed the company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) - the corporate performance metric recently adopted by Mr. James and the Astor Lodge & Suites, Inc. Board of Directors. Astor Lodges Caase 1 2 Case Objectives This case has four teaching objectives: 1. To introduce students to the economics of the U.S. hotel industry. 2. To affirm the fundamental role that segmentation, targeting, and positioning plays in crafting an advertising and sales program. 3. To alert students to the growing senior management insistence on financial accountability when preparing marketing, advertising, and sales programs. • 4. To consider the objective-task approach to communication budgeting. 5. To apply contribution analysis in the evaluation of marketing decisions. Astor Lodges Caase 1 3 Case Questions Assessment (A2)- Case 1 – Due 7 April by 11.59pm via Turnitin Astor Lodge & Suites, Inc (10%) – Kerin & Peterson page 338 Case Questions: 1. How would you characterise the U.S. hotel industry in early 2005 2. What is the current competitive positioning for Astor lodges & Suites, Inc 3. How would you characterise the operational (e.g. occupancy rates, prices, costs per room, etc) and financial performance (e.g. EBITDA –...
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...[pic] HARVARD BUSINESS SCHOOL BRIEF CASES 4249 JANUARY 19, 2011 JOHN A. QUELCH HEATHER BECKHAM Clean Edge Razor: Splitting Hairs in Product Positioning On August 9, 2010, a group of executives from Paramount Health and Beauty Company (Paramount) sat in a research room intently observing a dozen men shaving on the other side of a two-way mirror. The subjects were testing out Paramount's newest nondisposable razor, Clean Edge, and discussing the experience. The verdict was extremely encouraging. The majority of men felt it was the closest, cleanest, and smoothest shave they had encountered. Clean Edge's improved design provided superior performance by utilizing a vibrating technology to stimulate hair follicles and lift the hair from the skin, allowing for a more thorough shave.1 Jackson Randall, product manager for Clean Edge, sat in the darkened observation room considering the positioning strategy for this new product. He had led the new product development process and was now grappling with how to position the product for the upcoming launch. All executives at Paramount agreed Clean Edge should be priced in the super-premium segment of the market. However, some executives believed Clean Edge should be launched as a mainstream entry within that segment, with the broad appeal of being the most effective razor available on the market. Others felt a more differentiated niche strategy, targeting the most intensely involved super-premium consumers, would be optimal...
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...Does marketing contain a set of well-defined principles that can help managers to make better decisions? If so, are these principles communicated effectively? We assumed that the answer to the first question was ”yes,” and undertook a project to see how much progress has been made in developing marketing principles. Our goal was to develop an inventory of marketing principles and to see how this inventory changed over time. But in trying to develop this inventory, we were confronted by the second question, that is, the communication of knowledge. Thus, we sought to develop an inventory of the principles that are actually being communicated. As a working definition, we defined principles as normative statements that specify a condition followed by a suggested action. That is, marketing principles should provide operational guidelines, telling managers how to act in a given type of situation. An example of a principle is that the illustration in a print ad should be placed above the copy. Principles should help marketing managers to make better decisions because they incorporate marketing knowledge derived through previous research and experience. A well-developed set of principles can act as a basis for an expert system. For example, Burke et al. (1990) developed an expert system in advertising based heavily upon the principles presented in the advertising textbook by Rossiter and Percy (1987). Well-supported principles of marketing should be of interest to marketing practitioners...
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...Marketing and Strategy Series | The powerpoint slide that you have just read is part of MARKETING & STRATEGY Presentation Series. In total, there are 14 presentation topics displayed in this category :1. Blue Ocean Strategy 2. Brand Management 3. Creative Thinking Skills 4. Customer Service Strategy 5. Essentials of Marketing Management 6. Managing Brand Equity 7. Managing Customer Service 8. Managing Innovation Process 9. Marketing Plan 10. Marketing Strategy 11. New Product Development 12. Presentation Skills for Marketing Managers 13. Strategic Planning for Managers 14. Strategy Execution SkillsAll slides are designed in powerpoint files (ppt) so that you can edit or modify and immediately use for your own learning process.You can save your valuable time by using our ready-made presentation materials.And as you can see HERE, all of our presentation slides are beautifully designed and provide comprehensive learning points.Our Marketing Presentation Series have been enjoyed by many people around the world. Here is just a small selection of their comments :Thank you very much for your wonderful presentation. Rocye Chua, Marketing Executive.So professional and comprehensive presentation.... Zabi Moqim, Marketing Consultant.Beautiful presentation and very nicely organized. Thanks! Raor Sini, Marketing Specialist.Thank you very much for the very thorough and superb presentation.. I really appreciate it. Doc Fely, Marketing Executive.Excellent tool for...
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...Raport articol The Role of Market Research in SEO (Mod de abordare client) - Fa o cautare pe Google a brandului tau - Pe ce loc te situezi? - E suficient de sus pozitionat sau e ca si cum mai bine n-ar mai fi? A avea rezultate OK pentru motoarele de cautare si pentru user inseamna sa fii in top 20. DAR, cei mai multi useri nu pierd mult timp cautand info pe foarte multe pagii, indiferent ca gasesc sau nu ceea ce ii intereseaza; daca minutele trec fara a fi satisfacut de ceea ce gaseste, utilizatorul renunta. Nici sa fii printre primii 20 ca rezultate in motorul de cautare nu e tocmai grozav. Ca sa fii gasit si sa fii sigur ca utilizatorul a intrat pe pagina ta si te-a citit, trebuie sa fii in top 5 rezultate! Asadar, intrebarea fireasca este: cum dezvolti o strategie SEO care sa propulseze brandul in rezultatele motoarelor de cautare si sa creasca awareness-ul brandului?! Raspuns: MARKET RESEARCH! Aplicabilitatea market research-ului in SEO: 1. Cuvinte cheie relevante - Cine e targetul? - Ce nevoi are? - Ce info cauta? - Cum cauta acele info? 2. Un pas inaintea competitiei - Ce cuvinte cheie foloseste competitia? - Pe care dintre ele pune accentul? - Ce cuvinte cheie nu foloseste si se potrivesc brandului nostru? 3. Content relevant - Ce insight-uri avem despre useri? - Cum trebuie sa fie contentul ca sa capete valoare pentru target? Raspunsurile la aceste intrebari vin din market research si se aplica la nivel SEO prin faptul ca te duce mai aproape de...
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