...Marketing Management Heather Fullen Aspen University: BUS530 December 7, 2015 Syllabus and Textbook Reflection I started this assignment first by reviewing the course syllabus and skimming the topics covered in the textbook. I also reviewed the table of contents and briefly glanced through the rest of the text book required for this course. Syllabus After reading and reviewing the course syllabus for BUS-530 Marketing Management, I am looking forward to what this course is going to offer and teach me as well as being able to apply it to my current and future professional goals. I believe this course will provide a substantial introduction to basic marketing functions that will be advantageous to my degree and career goals. There is a lot of information to cover in just 10 weeks, but the knowledge I gain and learn will become the foundation for my personal and professional career. Textbook The required text book for this course, Marketing Management, has important, helpful and a significant amount of information to lead the way of becoming successful in marketing management. The textbook appears to be set up in a way that will be helpful for students such as myself to learn different marketing theories. Concepts and theories can be difficult to use and how to apply them in real life professional experiences. Topics of Most Interest While reading and skimming through the textbook, I found several of the topics to be of interest to me. Most of the chapters throughout...
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...BUS-530 Marketing Management (Module 1) Date: 01/04/2011 Muhammad Naeem Sarwar MBA Information Management Module 1: 1) Understanding Marketing Management a) Define the term supply chain. b) What is the task environment? c) What is meant by holistic marketing? d) What is the Product Market Expansion Grid? e) Explain the differences between a strategic marketing plan and a tactical marketing plan. f) Define Market Opportunity Analysis (MOA). A. Define the term supply chain. Supply chain management can be defined as the process of planning, implementing and monitoring the everyday operations of a supply chain Supply chain management is an all encompassing process as it undertakes the management of availability of raw materials, their processing into finished goods and the distributions of the same. The aim of all this is to provide the highest level of satisfaction to the customer and thus increase the business of the company. And with the increasing complexity of the supply chain, supply chain management has also become about coordinating and collaborating with the different trade partners now involved in the supply chain. Supply chain management decisions are made on three different levels- the tactical, strategic and operational levels. Strategic level involves long term decisions while tactical level includes medium term decisions while operational level is concerned with very short term day-to-day...
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...STRATEGIC MARKETING MANAGMENT BUSI 520 TASK: Individual Submission Week 3 CULTURAL FACTORS DEFINED Cultural factors have a major influence in what merchandise consumers purchases. In order to understand this clearer, one needs to take a closer look at the definition of culture. According to Kotler and Keller (2012), “Culture is the fundamental determinant of a person’s wants and behavior”. In other words, culture is the deciding factor that guides the choices of the consumer. One product which many consumers purchase is the iPad. Sales, of this advanced version of a tablet computer, are steadily increasing. According to Bray, Palazzolo and Sherr from (2013), the iPhone and iPad are in fact the two top selling products of the Apple company. The iPad, just before its unveiling, was surrounded by so much enthusiasm. As stated by Furfie(2010), “The Wall Street Journal joked that ‘the last time there was this much excitement about a tablet, it had some commandments written on it’”. As funny as this may sound, other tablets don’t come close to competing with this product. The iPad has a stake in our culture and it is here to stay! An astute observer may ask, why do so many consumers gravitate towards iPad as opposed to another similar product in the marketplace today? Furthermore, the enthusiasm and general demand for the iPad seems to overshadow the competitor’s products. Kotler and Keller conclude that the geographic region has a direct influence on the products available...
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...Name : Nilofer Sumra Student ID – 20121566 Class – 119 Marketing Management Individual Assignment 4.705 Question: 1 The biggest task for any of Blackberry in today’s era is to implement the effective marketing strategy with the endorsement of accurate marketing mix. Through initiatives & marketing strategies company attempts to capture maximum returns - this entire practice refers to value based marketing. Here Blackberry is in consistent effort to create a strong brand which influences consumers to give constructive feedback. Value based marketing starts with escalating correlation of sales and marketing. One of the core concepts of Marketing is Holistic Marketing concept, where everything matters in marketing is acknowledged. Wider and incorporated outlook is essential for the developing, implementing and designing marketing strategies for Blackberry. For RIM it’s inevitable to see the challenges from brand’s viewpoint but it’s not complete without considering consumer’s perspective. Once the market’s needs have changed, Blackberry should shift with it. [pic] • The complex market of phone industry forces Blackberry to deliver variety of differentiated products with fast pace in global market. All products should be distinguished with each other with the means of functionality and should be able to engage customer with unbeatable features and designs. Here the...
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...1.0 Introduction: Retail Pharmacy Background There are about 8,632 registered pharmacists and 2,000 community pharmacies which is also known as retail pharmacies in Malaysia. Out of the registered phamacists, 5,288 are in the government sector while 3,344 are in the private sector (Ministry of Health Malaysia Health Facts, 2012). The ratio of pharmacist to Malaysia population is about 1: 3,355. Both Penang and Klang valley areas consists of 56% of retail pharmacies in Malaysia. To operate a retail pharmacy, the pharmacist shall need to register A-license or known as poison license in order to be able to sell prescription medicines under the Sales of Drugs Act 1952 and the Pharmacist Registration Act 1951 (revised 1989). In Penang, a total of 344 A-license are issued in 2009 which contributed to about 11.5% of total A-license applicants in Malaysia. The retail pharmacy market is currently dominated by bigger and organized chain pharmacies such as Guardian Pharmacy (382 outlets), Watsons Group (260 outlets), Caring Pharmacy (73 outlets), Constant Pharmacy (12 outlets), Aeon Wellness (12 outlets) and Georgetown Pharmacy (11 outlets). (The Star, 2012, 2014). Retail pharmacies are the bridge for consumers to obtain medication drugs, over-the-counter (OTC) drugs, health supplements, health support products and others such as organic health food which could be categorized as a specialty shop. Retail pharmacies also carries fast moving consumer goods such as toiletries, personal...
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...Strategic Marketing Problems Cases and Comments V11. Chapter 2 1a) Contribution per CD unit = Unit Selling Price – Unit Variable Cost = $9.00 – ($1.25 + $0.35 + $1.00) = $6.40 b) Break-even volume in CD units Total Fixed Costs = $275,000 + $250,000 = $525,000 Unit Break-even Volume = Total Fixed Costs/Contribution per unit = $525,000 - $6.40 = 82,031.25units Break-even volume in dollars Contribution Margin = (Unit selling price – unit variable cost) / unit selling price = ($9.00 – $2.60) / $9.00 = 0.7111 = 71.111% Break-even Dollar Volume = Total Fixed Costs / Contribution Margin = $525,000 / 0.7111 = $738,282.40 c) Net profit if 1 million CDs are sold = Total Contribution – Total Fixed Costs = ($6.40 X 1,000,000) - $525,000 = $6,400,000 - $525,000 = 5,875,000 d) Necessary CD unit volume to achieve a $200,000 profit = (Total Dollar Fixed Costs + Dollar Profit Goal) / Contribution Per Unit = ($525,000 + $200,000) / $6.40 = $725,000 /$6.40 = 113,281.25 2a) VCI’s Unit contribution = $20.00 – [(4000/1000) + (500/1000) + (500/1000) = $20.00 – ($4.00 + $0.50 + 0.50) = $20.00 - $5.00 = $15.00 Contribution margin = ($20.00 - $5.00) / $20.00 = $0.75 b) Break-even point in units Total Fixed Costs = $150,000 + $125,000 + $5,000 + $10,000 + $35,000 = $325,000 Unit Break-even Volume = $325,000 / $15.00 = $21,666,67 Break-even point in dollars = $325,000 / $0.75 = $433,333.33 c) Share of the market would the film have to achieve to earn a 20% return on VCI’s...
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...Human Resource Management, 12e (Dessler) Chapter 1 Introduction to Human Resource Management 1) The basic functions of the management process include all of the following EXCEPT ________. A) planning B) organizing C) outsourcing D) leading E) staffing Answer: C Explanation: The five basic functions of the management process include planning, organizing, staffing, leading, and controlling. Outsourcing jobs may be an aspect of human resources, but it is not one of the primary management functions. Diff: 1 Page Ref: 4 Chapter: 1 Objective: 1 Skill: Concept 2) Which of the following is the person responsible for accomplishing an organization's goals by planning, organizing, staffing, leading, and controlling personnel? A) manager B) entrepreneur C) representative D) generalist E) marketer Answer: A Explanation: The manager is the person responsible for accomplishing an organization's goals by planning, organizing, staffing, leading, and controlling the efforts of the organization's people. An entrepreneur may manage people or may hire a manager to do so instead, but entrepreneurs are defined as individuals who start their own businesses. Diff: 2 Page Ref: 4 Chapter: 1 Objective: 1 Skill: Concept 3) Which of the following includes five basic functions--planning, organizing, staffing, leading, and controlling? A) job analysis B) strategic management C) employee orientation D) management process E) adaptability screening Answer: D Explanation:...
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...The Tows Matrix Analysis Apple Inc. Internalities Strengths Weaknesses Innovation Top Management - Steve Jobs Dependency on Steve Jobs Loosing Innvoative Edge Vs Competition Externalities Strong Marketing High Price Points Oppurtunities S O Stratergies W O Stratergies Further Globalization Partnerships / Joint Ventures New Consumer Markets 1 Strong Foreign Marketing will foster growth in new markets reducing dependency on local markets. 1 Identify successful managers across the world through globalization and add more responsibilties to reduce dependency of Steve Jobs in foreign operations. 2 Innovation in technology would create further oppurtunities for joint ventures / Ppartnerships. 3. Using Steve Jobs Persona and Brand Value in new consumer markets to leverage more brand confidence and push innovations Threats Cheaper Substitutions Declining Economy Failure to Maintain Agreements S T Stratergies 1. Use marketing stratergies and constant innovation to differentiate product line from competitors and change consumer assumptions on cheaper substitutes 2 Concentrate on creating more partenrships that fuel constant innovation. 3 Show design and R&D as factors differentiating its products from others in global & new consumer markets to sustain high price points. W T Stratergies 1. Work on a more diverse product line and faster upgrades to increase demand, reduce price & combat cheaper substitutes ...
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...Social Media: Effects on Marketing and the Public ITT Abstract This will help describe the effects of social media on the public as well as in sales. The people that are referenced within are describing how there sales job market. Social Media: Effects on Marketing and the Public Social media has changed how we do our daily business. As far as humans have been introduced to products there has been a way to market them. The way producers market their products has only changed. All of the changes are not too bad; the use of social marketing has helped many salespeople sell their products. With social media salespeople have the ability to target more people. With the current use of social media at their fingertips, salespeople have embraced the use of it and made it work to their advantage. When Twitter celebrated five years, compared to its regular forms of marketing it had 150 million users in four years. (Raj Agnihorti, 2012) For such an achievement to happen so rapidly meant that social media was the way to go. Salespeople are an important to the company. Social media similar to Facebook, Twitter, and others like them help spread the word about products. Products cannot only be order from web sites one can also leave feedback on the product. Through social media purchasers may remain anonymous. (Rebeca Walker Naylor, 2012) With the consumer being an anonymous person, the company does not need to spend countless dollars to advertise; people will do it...
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...scanning, adjustable pricing and more. Download the free App Store demo today. GoldMine The GoldMine relationship management product line has multiple editions, each developed with a unique person and organization in mind. All editions provide extensive contact management, sales automation, marketing automation, scheduling and project management functions. They vary in the underlying technology and configurability. Feature comparison chart. Bloomfire Bloomfire's sales training platform allows for better training of sales teams or sales organizations of all sizes through social learning. Easily upload and/or create sales tips, trainings and modules in addition to quickly allowing for an entire sales group to ask and answer questions. Mobile/App friendly means a sales organization can access and utilize the power of sales enablement from anywhere. Better sales organizations through Bloomfire. Start your free trial today. CRM Vendor No Data Entry! Telenotes is the easiest CRM in the industry allowing your field sales reps to update EVERYTHING in our CRM by simply talking on their cell phone. YES, If your sales team can use their cell phone, they can use Telenotes. Next Generation Contact Managment Provider designed by sales people for sales people. Qvidian Playbooks & Analytics Today's buyers are savvier than ever. Are your reps ready to sell to them? Are they prepared to have the meaningful conversations required to move deals...
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...performance metrics, such services, room comfort, maintenance, property conservation, friendliness and efficiency of the staff is important. Chip Conley believed without underestimating the importance of these variables, what matters most and differentiates hotels from competition is fulfilling unrecognized needs. Chip called this exercise: "identity refreshment". In his words, "you do not only get inside the customer's head, you get inside his heart” Joie de Vivre business model is based on strategic marketing. Resulting in a more powerful marketing approach and is grasped after a deep understanding of the needs and desires of the current and prospective customers. One that understanding of the customer needs and desires are achieved you then develop the business model around products, services, outreach, customer experience and branding, outreach with a goal to meet and exceed customer´s needs and desires. Utilizing this form of out-side in management versus tactical marketing strategies by creating a hotel product, basically copying others hotels and then concentrate efforts in advertisement, promotion and selling the hotel inside-out but is an outside-in Evidence based human resource management means using data, facts, analytics, scientific rigor, critical evaluation and critical evaluated research or case studies to support human resources management proposals, decisions, practices and conclusions basically taking a science if approach to the ways of doing things....
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...Marketing Ideology Roger D. Jermeay II Marketing and Promotion Baker College MARKETING IDEALOGY “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself” Peter F. Drucker (2001). Marketing is more than definitions, abstract thinking, theory and being sales manager. It is a science that incorporates functional knowledge that operates, not in a vacuum, but based on accepted principles. The purpose of this report is to inform the reader about marketing in the United States of America. The American style of marketing is the advent of business’ to find a way to make a profit. It is a necessity for businesses to know the current situation of the social economic environment, without such knowledge it is impossible to reach the next level. In the case of marketing evolution, with time comes change and change is a necessity to evolve. As society grows so should a business’ marketing attitude to remain competitive in an ever changing environment. In the business world marketing is continually a key assist or major detriment to a business’ success. Marketing is define as: The activity, set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Nickels, HcHugh, & McHugh, 2010). To further explain, marketing does for a company what a resume does for person applying for employment....
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...McDonald defines Marketing audit is a systematic, critical and unbiased review and evaluation of all the external and internal factors that have affected an organization’s commercial performance over a defined period.(2008,pg.39) Mission Statement The mission of Burberry is to meet customers’ needs and tastes by continuously providing high quality and fashionable products. In addition, the vision is to be the first company to be fully digital and partnering with sales force to build the social enterprise for customers to have full access to Burberry across to any device. (Burberry, 2014 online) Marketing Innovation Extended luxury leadership position in social media and improved Burberry site online. In addition transformation of fashion shows in many countries. Competitor Analysis Competitor Market Strategy Tarket market Strength Weakness Ralph Lauren Magazines,Lower pricing Middle& upper segment, youth Multiplex brand Lack of first rate design Gucci Limited quantity, endorsement, expensive Middle &upper class, hip Established brand image & international presence Instability in management &fashion base Prada Exclusivity, product differentiation, pioneers Middle & upper segment, fashion High prices, brand loyalty, brand quality High prices, availability Value Chain Analysis Primary activities –Outbound logistics: shops, online, joint ventures. –Inbound logistics Secondary activities – Firm’s infrastructure – technology development – Human resource managment Financial...
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...Segmentation and Target Paper: Neese’s Tia Crawford Marketing 571 January 7, 2016 Dr. Catherine Burr Segmentation and Target Paper: Neese’s Neese’s Country Sausage was established by J.T. Neese. He began delivering and selling sausage in 1917, using a covered wagon (Sausage, 2016). The Neese’s Company is located in Greensboro, North Carolina in Guilford County (Sausage, 2016). The family makes various food products that include sausage, souse meat, c-loaf, liver pudding, liver mush, and bacon (Sausage N., Products, 2016). The Neese’s Company has been able to identify itself as an independent market by determining the demands, needs, and wants of their customers (Dictionary, 2016). This process is called segmentation marketing (Dictionary, 2016). Neese's has been able to identify clearly the market and measure its effective size (Dictionary, 2016). The company has also established successful efforts of promotion and branding that have provided the ability to be a top competitor in the market. Demographic Company demographics provides knowledge and statistics of consumers and other clients (Suttle, 2016). Demographics is mostly used to point out differences in attributes among consumers (Suttle, 2016). The demographics for Neese’s consist of gender, race, location, and age. The company evaluates the trends of sales for customers in each area. Depending on the sales for the region, product trends are determined that can have an impact on sales. Future products are placed...
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...Big Data versus Big Dilemmas With the Relationship to Marketing Ethics MK 351 Abstract This paper reviews the relationship in current marketing strategies with data collections and their relationship to marketing ethics. By examining methods of data collections and uses of these practices it will show the allure to these marketing strategies. Advantages and disadvantages will be displayed in regards to the strategy of data collecting as part of a marketing process. This paper will additionally review the potential ethical dilemmas and concerns that can arise from companies holding this much personal data, which could lead to misuse, fraud and unethical practices. Big Data versus Big Dilemmas With the Relationship to Marketing Ethics In today’s technically advanced world, a door of data collection and marketing research has opened business around the world to learn the habits and trends of their customers. There are many advantages and disadvantages to collecting consumer’s information and using it as part of a marketing strategy. Companies have found great advantages to analyzing the information that they obtain from data collections to help better serve target market consumers while achieving a greater profit. While other firms misuse, take advantage or become victims themselves to the negative side of data gathering. At the expense of the consumers privacy some companies are making profits from tracking and selling their information to numerous buyers. As companies...
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