...appeal to all buyers in their markets or at least not to all buyers in the same way. Buyers are too numerous, too widely scattered and too varied in their needs and buying practices. Hence, many companies today are smartly moving away from mass marketing into target marketing in which they identify market segments, selecting one or more market to enter and developing products and marketing mixes tailored to each market. Example of companies that had successfully implemented marketing strategies are Subway and Crocs. The strategies are market segmentation, market targeting, and positioning. Market segmentation involves dividing market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. The company identifies different ways to segment the market and develops profiles of the resulting market segments. While market targeting consists of evaluating each market segment’s attractiveness and selecting one or more market to venture in. Compare to the first two strategies, positioning is deciding on a value proposition which they are offering to create superior customer value and to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A little bit about the history of both companies, SUBWAY was started 43 years ago in the summer of 1965 by an enterprising 17 years old young man, Fred Deluca. Subway is the market leader in the sub and sandwich...
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...MARKETING ASSIGNMENT BY ABHISHEK VARMA QUESTION 1 Definition of marketing – Wikipedia defines marketing as “a societal process that is needed to discern consumer wants; forcing on a product and service to those wants and to mould the consumer towards the product and service”. Marketing tends to be seen a creative industry ,which include advertising distribution and selling .it is also concerned with anticipating the customer future needs and wants often through market research American marketing association defines marketing “an organization function and a set of processes for creating, communicating and delivering value to customer relationship in ways that benefit the organization and its stake holder” As time went on people think of marketing in different manner new technology and techniques have been designed and each market change the definition of marketing suit on own preferences Personally marketing defined as all aspect starting with the idea of creating of a product through the completion of the sell. All the action that tends to take place before proceeding and the entire step in between are considered the marketing process. Marketing is host of activities from concept of new idea, innovations, promotions and advertising .the entire marketing department has to work together on each pieces in order for the organization to be successful .research needs...
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...Special Topics in Marketing Designing Customer Driven Strategies: Positioning Differentiation Targeting Segmentation Create Value for the Targeted Customers Decide on a Value Proposition Select Customers to Serve To Design a Customer Driven Strategy: * Select Customers to Serve: * Segmentation: Dividing the market into smaller groups with distinct needs, characteristics or behaviours who might require separate products or marketing mixes * Targeting: The process of evaluating the attractiveness of each segment and selecting one or more segments to enter * Decide on the Value Proposition: * Differentiation: Differentiating the firm’s offering to create a value for the target customers * Positioning: Arranging for a market offering to occupy a clear, distinctive and desirable place relative to competition in customers’ minds. Chapter One: Segmentation: Segmentation is dividing the market into smaller groups with distinct needs, characteristics or behaviours who might require separate products or marketing mixes Requirements for Effective Segmentation: * Accessible * Substantial * Differentiable * Actionable Types of Market Segmentation: * Segmenting Consumer Markets: * Geographic: Divides the market into different geographical units such as nations, regions, states, countries or cities * Demographic: Divides the market into groups based on variables such...
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...EDWARDES COLLEGE PESHAWAR Department of Professional Studies ASSIGNMENT COVER SHEET Student Name: Subject Name: Assignment #: Assignment Title: Issue Date: Date(s) Returned to Student: Student Declaration 1. I certify that this assignment is entirely my own work, except where I have given fully-documented references to the work of others, and that the material contained in this assignment has not been submitted for assessment in any formal course of study. 2. I understand the definition and consequences of plagiarism. My assignment will be cancelled and failed if it is copied from another student, book or internet website. Assignments to be submitted as per specified due dates as published in assignment briefs. Faculty policy requires that assignments are to be submitted to your lecturer/ tutor in class or in faculty office. In case of late submission please attach the late submission form, signed by the head of department or tutor. Student Signature Date: Formative Deadline: Date(s) Submitted: Summative (Final) Deadline: Subject/Unit Number: College Number: Tutor Name: Qualification: Semester: □ HND Computing □ HND Business □ EDSML For Tutor Use Only Date / Time _______________________________ Signature __________________ □ Late Submission Note: - Attach this part with your assignment x-----------------------------------------------------------------------------------------------------------------------------------------------------------------------x Edwardes...
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...Marketing Principles Contents Introduction. 2 Task 1 3 L.O 1: Understanding the concept and process of marketing 3 A.C 1.1: Various elements of the marketing process 3 A.C 1.2: Cost and benefit of the marketing orientation of the selected organization. 4 L O 2: Using the concept of segmentation, targeting and positioning. 5 2.1: Micro and macro environmental factors that influence marketing decisions. 5 A.C 2.2: Segmentation criteria to be used for products in different markets. 6 A.C 2.3: Targeting strategy for a selected products and services. 7 A.C 2.4: How buyer behavior affects marketing activities in different buying situations. 8 A.C 2.5: New positioning strategy for a selected product and service. 9 LO 3: Understanding the individual elements in the extended marketing mix. 10 A.C 3.1: How products are developed to sustain competitive advantages. 10 A.C 3.2: How distribution is arranged to provide customer convenience. 11 A.C 3.3: How prices are set to reflect an organizations objectives and market conditions. 12 A.C 3.4: How promotional activities are integrated to achieve marketing objectives. 13 A.C 3.5: Additional elements of the extended marketing mix. 14 Task 2 15 LO 4: Using the marketing mix in different context. 15 A.C 4.1: marketing mixes for two different segments in consumer market. 15 A.C 4.2: Differences in marketing products and services to business rather than consumers. 16 A.C 4.3: How and why domestic marketing...
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...Segmentation and Target Market Jennifer Jepsen MRK/571 November 17, 2015 Carol Webster The company selected is Procter & Gamble (P&G), a large consumer goods firm that produces many brands. This company has brands such as Oil of Olay, Bounty, Dawn, CoverGirl, and Duracell (Duhigg, 2012). P& G utilizes a multiple brand strategy successfully, and has influenced air care with another brand—Febreze. According to the 2012 Silver Effie Winner, “North America is the largest Febreze market in the world representing 43% total revenue and has the largest media spend” (Effie Awards, 2012, p. 2). Additionally, the Febreze market is diverse due to the diverse cultures, different languages, and attitudes P & G faces by marketing in multiple countries. Marketing Segmentation Market segmentations to consider are demographic, psychographic, and behavioral characteristic aspects. The demographic segmentation, described by Kotler & Keller (2012), says the market is divided into geographical units such as nations, states, or cities. Febreze used the marketing launch of Breathe Happy campaign by unit of countries. Therefore, Febreze utilizes a single-segment concentration. With a single-segment concentration the chance to gain knowledge results in a strong market presence. Alan Shaw states that “segmentation is essentially a classification exercise, in which individuals are believed to be related in certain ways” (2011, p. 256). Shaw references that Kotler suggests...
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...& Higher Education UNIT 4 MARKETING PRINCIPLES (F/601/0556) QCF LEVEL 4: BTEC HIGHER NATIONAL ASSIGNMENT BRIEF Assessment title: | Marketing Principles | | Lecturer: | JON BENNETT | Issued date:Submission date: Task One byTask Two byTask Three byTask Four by | FINAL SUBMISSION OF ALL TASKS 20TH JANUARY 2015STUDENTS ARE ABLE TO SUBMIT DIFFERENT TASKS AS AN INTERIM ASSESSMENT TO GAIN FEEDBACK PRIOR TO FINAL SUBMISSION.ONLY WITH EXCEPTIONAL CIRCUMSTANCES WILL WORK BE ALLOWED TO BE LATE. | Learning Outcomes | LO1 Understand the concept and process of marketingLO2 Be able to use the concepts of segmentation, targeting and positioningLO3 Understand the individual elements of the extended marketing mixLO4 Be able to use the marketing mix in different contexts | IntroductionThis is a broad-based unit which gives learners the opportunity to apply the key principles of marketing. Firstly, the unit looks at the definitions of marketing, and what is meant by a marketing orientation and the marketing process.Next, learners consider the use of environmental analysis in marketing and to carry out their own analyses at both macro and micro levels. They will also investigate the importance of market segmentation and how this leads to the identification and full specification of target groups. Learners then consider buyer behaviour and positioning. The unit looks at the main elements of both the original and the extended marketing mix. This includes an introduction...
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...|Unit: |4 |Marketing Principles | | |Credit Value: | |15 credits | | |QCF Level 4 | |Unit Code: F/601/0556 | | |Assignment ref: 4/Term2/2012 | |Learning Outcomes: | | | |1 Understand the concept and process of marketing | | | |2 Be able to use the concepts of segmentation, targeting and positioning | | | |3 Understand the individual elements of the extended marketing mix | | | |4 Be able to use the marketing mix in different contexts. | | | | |Learner’s Name: | | | ...
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...Purple Cow Examples: Italian Butcher, Otis elevator, Lady Gaga, Apple. The lesson is simple – boring always leads to failure. Boring is always the most risky strategy. Smart businesspeople realize this, and work to minimize (but not eliminate) the risk from the process. They know that sometimes it’s not going to work, but they accept the fact that that’s okay. The opposite of remarkable is very good. NEW MARKETING: Create remarkable products that the right people seek out. The more intransigent the market, The more crowded the marketplace, The more busier are the customers, The more we need a Purple Cow. INNOVATIVE: Unique, Take a chance, Be the purple cow, Take risks The challenge is to do two things simultaneously: Milk the Purple Cow for everything its worth. Figure out how to extend it and profit from it for as long as possible. Invent an entirely new Purple Cow in time to replace the first one when its benefits inevitably trail off. 10 WAYS TO RAISE A PURPLE COW: Differentiate customers •Pick one underserved niche to target •Create two teams: the inventors and the milkers •Start getting email addresses of customer base that loves what you do •Do the "unsafe" thing every time you have the opportunity •Explore the limits •Think small but outside the box •Find things "just not done" , and do them •Ask, "Why not?" •Always tell the truth Why There Are So Few Purple Cows: One reason is that people think the opposite of...
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...OLC EUROPE UNIT 4 MARKETING PRINCIPLES QCF LEVEL 5: BTEC HIGHER NATIONAL ASSIGNMENT Assessment title: Marketing Principles Lecturer: Issued date: Submission date: Task One Task Two Task Three Task Four Learning Outcomes LO1 Understand the concept and process of marketing LO2 Be able to use the concepts of segmentation, targeting and positioning LO3 Understand the individual elements of the extended marketing mix LO4 Be able to use the marketing mix in different contexts Introduction This is a broad-based unit which gives learners the opportunity to apply the key principles of marketing. Firstly, the unit looks at the definitions of marketing, and what is meant by a marketing orientation and the marketing process. Next, learners consider the use of environmental analysis in marketing and to carry out their own analyses at both macro and micro levels. They will also investigate the importance of market segmentation and how this leads to the identification and full specification of target groups. Learners then consider buyer behaviour and positioning.The unit looks at the main elements of both the original and the extended marketing mix. This includes an introduction to the concept of the product life cycle, new product development, pricing strategies, distribution options and the promotion mix. Finally, learners will develop their own marketing mixes to meet the needs of different target groups. This includes...
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...CHAPTER 4 Focusing Marketing Strategy with Segmentation and Positioning These days Nintendo rides high in the video game world. Its DS handheld game, Wii (pronounced “we”) console, and games with characters like Mario and Zelda sell millions of units. The key to Nintendo’s success comes from meeting the entertainment needs of different groups of customers. Back in the 1980s, Nintendo was a 100-year-old Japanese manufacturer of toys and playing cards. If Nintendo managers had continued to just think about the “toy market,” the firm probably wouldn’t even be around now. Instead, they saw profitable new opportunities in the broader “entertainment seekers market.” In 1985, they released the Nintendo Entertainment System (NES) and interactive video games such as Super Mario Brothers. In those early days, video game consoles and software from different producers were quite similar. Even so, Nintendo’s NES stood out as offering better value. And Nintendo’s profits took off because once a household owned a NES console, it qualified as a prime target for new Nintendo games. As the market evolved, Nintendo developed more new products focusing on the needs of different groups of customers. In the 1990s, its popular handheld system, Game Boy, successfully delivered portable fun to kids. Another group of customers, the “hard-core gamers,” played complex and realistic games requiring consoles with high-speed processors and better graphics, so Nintendo offered them its GameCube console...
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...Marketing principles Table of Contents INTRODUCTION 1 TASK – 1 1 1.1 Various elements of the marketing process 1 1.2 Evaluate the benefits and costs of marketing orientation 2 TASK 2 3 2.1 Macro & Micro environment factors influencing marketing decisions 3 2.2 Propose segmentation criteria for the products 4 2.3 Targeting Strategy for products 5 2.4 Impact of buyers behavior on marketing actvities 5 2.5 New positioning for the product or service 6 TASK 3 6 3.1 Development of prodcuts to sustain competitive advantage 6 3.2 Explaining how disribution is arranged to provide customer convience 8 3.3 Explain how prices are set to reflect an organisation’s objectives and market conditions 9 3.4 Integration of promotional actvity to achive marketing objectives 9 3.5 Additional elements of the extended marketing mix 10 TASK 4 10 4.1 Marketing mixes for two different segments in consumer markets 10 4.2 Differences in marketing products and services to businesses rather than consumers 10 4.3 International marketing differs from domestic marketing 11 CONCLUSION 11 REFERENCES 12 List of tables Table 1: Market Segmentation 4 Table 2 : Questionnaire for Tesco service 5 list of figures Figure 1: Elements of Marketing Process for Tesco 1 Figure 2 : Environmental Factors affecting Tesco 3 Figure 3 : Classification of Products 7 Figure 4: Distribution channel of intermediaries 8 INTRODUCTION The heart of success of the business...
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...Serial No 1. Task1 Introduction 2. Marketing: Definition Topic Introduction Marketing: Definitions Page No 1. A REPORT OF THE MARKETING DEPARTMENT TO THE CHAIRMAN OF TESCO DATED: 08/10/2013 Lo1.0 INTRODUCTION The ideals of a detailed marketing plan demand a critical approach. The marketing processes, the market environment variables are essentially relevant to the overall ideals of a campaign. In this study it will be important to ascertain certain definitions which are fundamental to the study. According toAMA (1985) marketing involves the ideals of planning and execution of the concept, pricing strategies, promotional tactics, and the distribution of ideas, commodities and services and the creation of exchange and the satisfaction of objectives. Pettinger(2002) states that the ideals of marketing encompasses the offering of goods and services to the buyer at a price to achieve profit.CIM(2001) insists that marketing is managerial in nature and it involves the activities of identification, anticipation, and the satisfaction of customer needs with the intension of making profit, DISCUSSION/FINDINGS LO1.1 MARKETING PROCESSES Kotler, Amstrong, Saunders and Wong (1999) explain that the market process involves activities of critical analysis of the market. This involves the system of analyses regarding the market. Lancaster (1998) suggests that the marketing process consist of the Strategic market analysis This encompasses a managerial activity...
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...ASSESSMENT FRONT SHEET Programme: BTEC Higher National Diploma (HND) in Business Unit Number: Unit 4 Unit Title: Marketing Principles Unit code: F/601/0556 QCF Level: 4 Tutor Name: Siham Aboujanah Email: s.aboujanah@londonchurchillcollege.co.uk Learner’s name and statement of authenticity Learner’s Name: …………….. Learner’s ID: Date handed-in: I certify that the work submitted for this assignment is my own. Where the work of others has been used to support my work then credit has been acknowledged. Signature: ……………………. Date: …………… Key dates Distribution date: 15/09/2015 Submission date: 13/12/2015 Return date: 4 weeks after submission Contents ASSESSMENT FRONT SHEET 1 Key dates 1 Introduction 3 Task 01 3 1.1 Define marketing and explain the elements of the marketing process for BT 3 1.2 Evaluate the benefits and costs of a marketing orientation for BT. 5 Task 02 6 2.1 Show macro and micro environmental factors which influence marketing decisions of BT. 6 2.2 Propose segmentation criteria to be used for BT products in different markets. Chose one example for demographic and one for geographic segmentation. 8 2.3 Choose a targeting strategy for a selected product/service of BT 8 2.4 Demonstrate how buyer behaviour affects marketing activities in different buying situations for BT. 9 2.5 Propose new positioning for a selected product/service of BT 11 Task 03 12 3.1 Explain how...
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...MARKETING REPORT FOR BOSCH KETTLE (TWK 6831) COURSE: MSC MANAGEMENT MODULE: MARKETING MODULE LEADER: DR BRIAN JONES HARIS HUSSAIN ZAHID (77054487) MUHAMMAD ALI (77055851) TITTO THOMAS (77044182) SUBMISSION DATE 18TH APRIL 2008 Leeds Metropolitan University Leeds Business School Contents Page No 1 Introduction 2. The Marketing Environment 2.1 Macro Environment (a) Political and Legal Environment (b) Economic and Competitive Environment (c) Social Cultural Environments (d) Technological Environment 2.2 Micro Environment 2.3 Competition (a) Competitors of Bosch Kettle 3. Critical analysis of relevant theories 3.1 SWOT Analysis 3.2 Portfolio Analysis 3.3 Porter’s Matrix 3.4 The Boston Matrix (The Product Portfolio) 3.5 Response Hierarchy Model (a) The AIDA Model (b) The innovation – adoption Model (c) The DAGMAR Model Market Attractiveness Model: the GE matrix 3.6 Critical Analysis 4. Critical Analysis of Buyer Behaviour 4.1 Consumer as Buyer 4.2 Conclusion and Analysis 5.0 Buyer Behaviour 5.1 Buyer Behaviour Role in Marketing 5.2 Consumer as Buyer 5.3 Why People Buy 5.4 How people choose (a) what influence Buyers? 6.0 Segmentation Targeting and Positioning Strategies 6.1 Segment Identification 6.2 Consumer basis 6.3 Physiographic 6.4 Geodemographics 6.5 Psychographics ...
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