...a company’s marketing environment and why marketers play a critical role in tracking environmental trends and spotting opportunities. The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment which are the internal environment, the microenvironment and the macroenvironment .Marketers build both internal and external relationships. Marketers aim to deliver value to satisfied customers, so we need to assess and evaluate our internal business/corporate environment and our external environment which is subdivided into micro and macro. The internal environment refers to the company and its existing products, marketing strategies. It also includes the strengths of the company with regard to manufacturing abilities, distribution capacities, and marketing abilities. Internal resources should also be considered while formulating a marketing strategy .Every manager in an organization observes the outside environment with disciplined methods marketing research and marketing intelligence for collecting information about the marketing environment. They also spend more time in customer and competitor environments. By carefully studying the environment, marketers can adapt their strategies to meet new marketplace challenges and opportunities. Example of how the internal environment would impact a company such as Walmart. We are looking at the immediate local influences which might include its marketing plans, how it...
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...elements of marketing in today’s global world (based on Lee and Carter 2012). Critically appraise how marketers can manage brands across transnational markets. Consider the competitive advantage that branding brigs to a product as well as the cultural considerations that must be respected. Choose ONE brand in your industry as an example to illustrate your points. Branding in a Global tourism marketing strategy is key element (Witt and Moutinho, 1995). A brand is composed of a name, design or sign, which is adopted to recognise a facility delivered by an institution or organization (Witt and Moutinho, 1995). This essay will discuss the importance of branding as a key element in today’s global marketing. We will take in consideration of Virgin as an example of Global brand. Mawson (2000) argues that in the United States of America, Back in the days in the Mid-west, the cowboys would imprint with a very hot iron their cattle’s buttocks with the name of their ranch to show possession and to marked them to differentiate from the neighbour’s. This is an example of how branding existed decades ago. A brand is purely a merchandise or service which can be notable from its rivals (Hankinson and Cowking, 1996). Popular brands are the ones that fulfil the desires and objective of a distinct target market (Hankinson and Cowking, 1996). Branding is an important and planned process that embroils all parts of the firm in its delivery (Randall, 1997). It does involve marketing, but is not...
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...do marketer do.............................................................................. 3 4. The role of marketing............................................................................... 3 5. Strategy planning...................................................................................... 3 6. What marketer need to do. 1.1 Target market..................................................................................... 4 1.2 Observing the competition................................................................. 4 1.3 Pricing................................................................................................. 4 1.4 Promotion........................................................................................... 4 1.5 Distribution......................................................................................... 4 1.6 Treat supplier as a partner................................................................. 4 1.7 Marketing intermediaries.................................................................. 5 1.8 Knowing major force in the company environment.......................... 5 7. Market Research...................................................................................... 5 8. Referencing.............................................................................................. 6 INTRODUCTION Many people think of marketing as...
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...THE CHANGING ROLE OF THE MARKETING PROFESSIONAL IN A COMPETITIVE CAREER DRIVEN MARKET A research report presented to IMM Graduate School of Marketing In partial fulfilment of the Postgraduate Diploma By Gerhardus Francois Nel Student Number: N67513 July 2012 Supervisor: Dr Sidney Shipham Executive Summary The marketing profession worldwide has for the last decade been under pressure to show its worth. Marketers are finding it harder to show value and at an executive level, this is even more pronounced. The lack of being able to show clear return on investment in their activities has meant that many marketers and indeed marketing departments are being questioned as to their role in the fulfilment of the business strategy. In the light of all this negative attention, marketers themselves have not branded themselves as strategically important and through the ever increasingly complex role of a marketer today, the gap between how marketers are viewed by their counterparts and how they view themselves, has begun to show. In an effort to establish how marketers view themselves, their perceptions of their value and how that impacts on their career advancement and acceptance at an executive level, the research aims to highlight the need for a professional marketing standard in which marketers can gain a positive impression of themselves and the profession in general. Simply having a recognised qualification will obviously not be the only solution but the subsequent understanding...
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...Introduction Today more than ever before, marketing is the steward of the entire customer journey and building a bond with customers wherever they are. Marketing is in the driver’s seat but with that power comes responsibility and pressure for marketers to be exceptional. But, in a crowded space it’s harder and harder to be exceptional. In today’s world marketing is crowded and your audience is constantly bombarded with marketing messages. You find yourself facing the challenge of how you can break through the noise. To accept the challenge and excel in marketing you need to embrace the shift from talking at people to engaging with people, and work to build meaningful, life-long and personal relationships. In order to build those relationships you will have to shift how you think about and how you do your marketing. You need to be innovative. This ebook explores innovation in today’s marketing world. It will show you how marketers think about, foster, and deploy innovation in their organizations and are making the shift from mass marketing to the new era of engagement marketing. “Times have already changed; customer engagement is the new battle ground on which we will be measured.” — REW NICHOLSON, CEO, D OGILVYONE DNX 01 Key Take-Aways As part of Marketo’s 2014 Marketing Nation Roadshow Tour, we surveyed the attendees at the London stop about innovation in marketing and the state of innovation in their organization. Survey participants were...
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...marketingWhite PaperThe future of marketing 1 >> • 2. Foreword In these challenging times, marketing and a marketing orientation have rarely been more important. Yet time and time again we see the value of marketing being questioned and marketing budgets cut. White Paper: I believe marketing is essential to the success of organisations. However, sometimes marketers are their own worst enemy, failing to account for their often considerable Marketing’s decline: budgets, falling back on dull and uninspiring campaigns, and floundering when questioned on the financial impact of their strategies. a wild exaggeration? Dr Evmorfia Argyriou, Aston Business School, UK This White Paper, the result of research completed for The Professor Peter Leeflang, Rijksuniversiteit Groningen, The Netherlands Institute by Aston Business School, reveals how marketers themselves perceive their role and importantly how they are Professor John Saunders, Aston Business School, UK and AUDENCIA Grade École, Nantes, France perceived by their colleagues in the finance department. Professor Peter Verhoef, Rijksuniversiteit Groningen, The Netherlands Whilst marketing is unquestionably central to business success – with marketing orientation and the influence of marketing within a firm critical to business performance – our Paper shows that marketers must overcome their own Contents weaknesses if they are to prove the value they add and earn the respect of their peers. 2 Marketing’s decline? 4 Marketing now David Thorp Director...
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...Demographics & Marketing Mix | December 7, 2009 | | When using demographics and the marketing mix tools, marketers have a greater capacity to reach the most desired target market for the product being marketed. These marketing applications therefore have an important impact on the decision to purchase. | Demographics and the marketing mix tools have an important impact on the decision to purchase. In using these, marketers have a greater ability to reach the most desired target market for the given product. Demographics enable a marketer to look at specific characteristics of a human population, knowing this a marketer will be able to pinpoint what product is most wanted by a specific demographic segment. While knowing the marketing mix tools - product, price, promotion, and place – will enable the marketer to better understand where in the specific demographics the product should be placed and what factors will be used to encourage greater profits. Prior to having marketing mix tools, marketing was more of a straight-line function concept. “It is that combination of factors which is the promotional undertaking that has always characterized marketing that has differentiated it from trade or distribution.” (Bartels, 1988, Pg. 228) By having this combination of factors to work with, marketers have to look at a product and discover the aspects of its distinctions prior to the actual selling of it. The marketing mix tools, product, price, place, and promotion, need to...
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...Social Media Marketing The New Age of Business Name: Dipali Patel Student Number: 300814137 Professor’s Name: Nadira Singh Course Name: Business Culture & Craft Course Code: BUSN 733 Date Submitted: 11/18/2015 Executive Summary Social Media Marketing is the best opportunities available today to connect with prospective consumers. Social media marketing is the new mantra for current businesses to socialize. Marketers are focusing on different social media opportunities and taking new social initiatives more than ever before. Now days, business cannot afford to have no presence on the social channels, all business small to large uses Social Media Marketing for their marketing activities. In the current business practices, many companies and marketers are not using social media marketing effectively. Marketers are using selected social media platforms and staying not interested for other available many different social media platforms. In addition, many marketers present avoiding attitude towards new social network. Many marketers are not spending proper time the social media marketing. To stay in the competitive marketplace and grow the business, marketers should Increase their use of Social media marketing and use different possible social media platforms for the marketing activities. Companies and marketers have to adopt new social media networks to grow their connections and should spend more and more time on...
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...western Nigeria is characterized by price fluctuations through space and time. This may be linked with the large number of market intermediaries who act between the primary producers and the markets. The sample for the study comprised 250 cashew nuts marketers who were randomly selected from the five south western states of Nigeria. About 76 % of the cashew nuts marketers had up to secondary school education and 86% of them had 15-year marketing experience and below. Pricing efficiency of the marketers was highest in Ogun state with average efficiency level of 85.1 % and least for Oyo state (68.9%). In all, 720 tonnes were transacted in the region with 206 marketers handling maximum of 2 kg per month per individual. Gini-coefficient estimate of 82.3% implied that there was a concentrated market for the cashew nuts. To further increase the pricing efficiency of the commodity it is necessary to reduce the costs incurred on various physical aspects in marketing system. Corporate organizations, government agencies and co-operative societies should assist the cashew nuts marketers in the provision of credit facilities so as to ensure a higher level of pricing efficiency, stable market prices and reduced level of concentration of the marketers. Key words: Pricing efficiency, cashew nuts market concentration, small scale traders, south western Nigeria. 1....
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...Marketing is a science that study consumers’ needs and wants as well as behaviours in order to sell products and services to them, ultimately achieve profit target (Investopedia n.d.). Marketers play crucial role in marketing activities. They work between companies and consumers, design and implement marketing plans and strategies to achieve marketing goal of companies, satisfy consumers demand at the same time. This essay will demonstrate two types of marketers and their duties, also suggest possible challenge faced by marketers. Companies’ aim is to sell their products to consumers, as well as promote their brand and products to attract more consumers. Therefore overall marketers’ obligation is to search for potential markets, select one or multiple markets as target, take the market environment and all other related factors that will impact on their brand into consideration to design appropriate marketing strategies, and manage the undertaking marketing activities (Mbalib n.d.). In order to seeking potential market opportunities, it is essential for marketers to do comprehensive market research in forms of observations and surveys, which helps marketers to understand consumers’ needs and wants, as well as their behaviour (Sharp 2013, p.6). Generally, there are two types of marketers. One is mainly involved in routine marketing activities, they are performers of marketing decisions, experiments and proposals (Laura n.d.). They also are information collectors and product promoters...
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...Page » * Business and Management What Do Marketers Do? In: Business and Management What Do Marketers Do? What do marketers do? A marketer will have researched the market to find those needs of consumers that have not been developed. A marketer uses a business tool called the “marketing mix.” The marketing mix is essentially made up of the four Ps; price, product, promotion and place. These four elements are the underlying basis and marketing fundamentals to enable the marketer in determining a product or service. (Sharp, 2013) So selling is merely just a fraction of the entire marketing process of a product or service. When one looks closer at each p element of marketing, there is a considerable amount of strategy, planning and research that is required. By understanding the needs of a consumer is merely not enough, there are also other factors which require research and understanding why consumers are influenced in a number of ways to make specific purchases. All these factors are driven ultimately by consumer behaviour. A marketer will have researched consumer behaviour, in other words, they use market science, to systematically gather and analyse information needed. By applying the theoretical aspects of marketing and bridging this with real world marketing knowledge, the marketer can make informed decisions in planning marketing strategies. Many marketing fundamental theories have evolved over time, after all, marketing has been around been for thousands of years...
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...Does marketing create or satisfy needs? Take a position, marketing shapes or merely reflects needs and wants of consumer? When we talk about marketing, there are lot things that we should know first. Marketing is activities of creating value that desired by the potential buyers and receiving value from the potential buyers for the value that they have received. When marketers want to create something that has value to the potential buyers, marketers must know first, what do the potential buyers need or want. As a marketer, it does not make any sense if we sell something that does not have value, or if the marketers want people to purchase something that they do not need of even want. Marketers can not force anyone to do something. They can only ask them to buy their product or service. Some people might not care about what they are asking for. So, in the business of selling product or service, we know word “marketing”. Marketing is an art of identifying and meeting the people’s needs and wants. It is all about communication between two parties that profitable for the both sides by exchanging value. Marketing is not that easy to do. As we know, we can not mess with the “free will” of the people around us or people that we see as the potential buyers. It is up to them if they are willing to buy the marketers’ products or service. In this case, the marketers have to do their marketing activities. Their job is to tell people that their product or service is suit with the people’s...
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...VALUE TO MARKETERS ABOUT UNDERSTANDING CONSUMER BEHAVIOR THEORIES AND CONCEPTS Modern day’s business is controlled by Consumers. Large variations in consumer needs and strong competition demands market driven business and marketing plans. It’s the response of Consumers that decides the success of Marketing. Most of the marketers not only avoid theories but also consider them to be irrelevant. They believe that huge experience of Managerial facts and direct observation of consumer’s behavior is enough to succeed. What marketers fail to understand is that experience and observation on one hand and theories on the other hand are inter-linked. By understanding consumer behavior, marketers will be able to investigate and learn consumer’s purchase mannerism and make marketing decisions. 1. INTERNAL INFLUENCES: These are the factors that happen within the consumers. 1.1. LEARNING: Learning is the behavioral change occurring due to the outcome of past experience. Based on Consumers gained experience on purchased and consumed product, they learn about the brands they like and dislike and the qualities they prefer the most. With this experience consumers adjust their behavior for the future. For marketers to understand the learning behavior better, two thoughts are developed – The behaviorist and the cognitive. 1.1.1. Behaviorist Learning Theory: This Theory is concerned with observing changes in an individual’s responses as a result of exposure to stimuli. (Henry...
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...Final Project “Email Marketing Effective Yet Challenging” Rebeca Machado Marketing Management, Section O Professor Dr. Nall November 23, 2014 “Email Marketing Effective Yet Challenging” Marketers always face the difficulty of knowing how much to spend on marketing. Like one once said, “I know that half of my advertisement is wasted, but I don’t know which half” (Kotler & Keller, 2012, p. 488), it is a challenge to know what part of their effort it is being effective and what is just a waste. One possible solution for this problem is email marketing campaigns. From a well targeted consumer contact list to a well designed email with an efficient and appealing subject line and short body message, emails are a very important tool in marketing (Carmen & Nicolae, 2010, p.737). Email marketing has several advantages but it must be administered effectively in order not to become intrusive and disregarded by consumers. An efficient email marketing campaign should benefit both the company and the customer (Alan, Chaudhary & Jason, 2010, p.188). Email is a very useful and easy tool to reach customers over large geographic areas -- even those across the world. There are several reasons why emails are beneficial when used in marketing. First, it is the fastest and, when used efficiently, can be an inexpensive way to reach customers (Bonfrer & Drèze, 2009, p. 251). Second, comparing with other marketing techniques, email marketing requires low implementation...
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...OVERVIEW OF MARKETING MODULE -1 OVERVIEW OF MARKETING OVERVIEW OF MARKETING 1 LEARNING OBJECTIVES After reading this module, students should: Know why marketing is important Know what is the scope of marketing Know some of the fundamental marketing concepts Know how marketing management has changed Know what are the necessary tasks for successful marketing management Know scope and importance of marketing Know what are the recent trends of marketing Know what are the different levels of market segmentation Know how a company can divide a market into segments Know how a company should choose the most attractive target markets Know what marketing mixes are. SUMMARY From a managerial point of view, marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Marketers are skilled at managing demand: They seek to influence the level, timing, and composition of demand. Marketers are involved in marketing many types of entities: goods, services, events, experiences, persons, places, properties, organizations, information, and ideas. They also operate in four different marketplaces: consumer...
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