...Marketing is important to the success of any business. Marketing is the process or technique of promoting, selling, and distributing a product or service (Merriam Webster, 2013). Most consumers want to know about a product or service before they purchase. The consumers’ wants and needs are important to marketing. Marketing gains the attention of consumers. Another definition for marketing is the management process through which goods and services move from concept to the customer (Business Dictionary, 2013). However, this definition includes four elements of marketing. The first is identifying, selecting, and developing of a product or service. The second is determining the price of the product or service. Third is the selection of the distribution place. Last is the development and implementation of a promotional strategy. Marketing is one of the important business functions that a lot of companies ignore. So having the right merchandise, offering the appropriate services, and choosing the right location are the key elements in having a marketable product or service. Marketing is based on thinking about the business in terms of customer needs and their satisfaction (Business Dictionary, 2013). Marketing is important to business because it leads to the success of the company. The distribution and production of a service or product depends on marketing. Marketing has less to do with getting customers to pay for your product as it does developing a demand for that product...
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...Nike Marketing Plan; Phase I Eddie Chantaniyom, Lizbeth Geary, Chris Marlow, Dean Nicholson MKT/421 Marketing Stephen Oaks September 13, 2012 Nike Marketing Plan; Phase I Discussed in this reading will be the beginning phase of the marketing plan to customize and personalize Nike shoes. Discussed will be a summarization of the Nike Corporation along with a description of the new customization service being provided. In addition, this reading will also explain the overall importance of a proper marketing plan and provide critical data of a SWOT analysis to help determine product feasibility, marketing strategy, and tactics for the new service. Good intro. The largest market competitor in the world of sportswear for 2012 is Nike Inc. A company that opened the doors in 1962 by two individuals Bill Bowerman and Phillip Knight with a gentlemen handshake and became the supplier called Blue Ribbons Sports for Japanese shoe makers in Oregon later known as Nike Inc. They started selling supplies for Onitsuka Tiger, now known as ASICS, from Knight’s automobile making most of their sales at track meets. Bowerman handled the innovations for the company as Knight managed the business operations. Bowerman created the first shoe using his wife’s waffle iron, giving Nike the first ever waffle shoe. The waffle shoe helped the growth of the company position into the market, by starting their-own innovative brand of soccer shoes, called the Nike; that followed the first trademark...
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...Marketing Plan: Phase I and II Lahoma Bennett, Heather Glenn, Yesi Imperial, Antonette Maturino, Belinda Mccleskey, Daniel Speichinger, Janet Trentham University of Phoenix Marketing MKT/421 Dianna Iobst July 18, 2011 Marketing Plan: Phase I and II Intro An overview of the existing organization. 1. Opening * Organizational Overview 1o A description of the new product or service. * Name of organization * Mission statement - organization’s basic values and philosophy * Geographic location * Product mix * Single product * Product line(s) * New Product Description * Importance of Marketing for the Organization’s Success 2o An explanation of the importance of marketing to your selected organization’s success. * SWOTT Analysis 3o A SWOTT (Strengths, Weaknesses, Opportunities, Threats, and Trends) analysis on the new product or service. * Strengths (internal) * Weaknesses (internal) * Opportunities (external) * Threats (external) * Trends (external) * * Marketing Research of Target Market 4o Identify the segmentation criteria that will impact your target market selection. Identify your target market. * * Consumer analysis * Demographics * Psychographics * Behaviors (e.g. purchase behaviors) * Geographical considerations * Industrial analysis, if applicable * Competitor Analysis * Segmentation * Criteria * Target market(s) * Differentiation...
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...Step 1 – Preliminary Analysis and Screening The importance of analysis and screening in the planning process of a firm whether it be a new firm going international or an old firm seeking further expansion cannot be over-emphasised. An analysis or evaluation of the potential market is the first step to take in the planning process. A critical decision area within this first step is which existing country market to invest in. This decision should be informed by the firm’s current situation which involves a critical analysis of its strengths, weaknesses, opportunities and threats. Furthermore, its orientation, products, policies and philosophies must be matched with the targets country’s market potential and its constraining factors. The screening phase thus, allows the firm to eliminate markets or countries with weak potential and by that helps the firm to concentrate on the ones that are viable. However, in situations where target segments are emerging markets, it presents some challenges, this is because distribution challenges are not well developed, market infrastructures are still developing and income levels vary from country to country. Once an agreement has been reached on target markets, prospective countries can be evaluated. This is done by running a country’s PEST factors against the company’s capabilities, resources, objectives for going international and limitations. The latter and the expected return on investment should inform the evaluation criteria in assessing...
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...whose primary purpose will be to raise awareness about entrepreneurship in SA to the average South African person. The reason for implementing the proposal is specifically to follow the study of the Ugandan model, which suggested that the attitude of the average Ugandan is extremely positive about entrepreneurship. To create a similar attitude in the average South African citizen , an intensive marketing campaign is necessary, that will raise awareness about entrepreneurship, and the facilities that are in place to aid an individual who is attempting to do so. The implementation of this marketing campaign will take place in three individual phases. These will be carried out as short, mid and long-term plans. The phase 1, short term plan will take place over a period of 6 months, as shown in figure 1. Thereafter, the phase 2 program of events is scheduled to be carried out over the following 18 months, while the third phase of the proposal is planned for the long term of the project, and will continue for at least 3 years thereafter. . Phase 1 The first phase of the project proposal will be focused towards the generation of the campaign committee. The campaign committee will be responsible for carrying out the entire project, and will therefore need formulated into a well ordered structure. The hierarchy of the committee will be essential in the success of the proposal, because clear lines of authority need to be observed and followed. The committee...
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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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...1. Draw a Gantt chart for the construction phase of the program. What is the completion date if construction starts in March? What is the completion date of the project if construction is started in November? If the project is started on March 1st, 2012, the finish date is July 30th, 2013. For the November start date, the case does not mention exactly what date the project should start but rather mentions that it should start after the elections. We do not have the election date so I will assume a start date of November 14th, 2011, which is a Monday. In this case, the end date of the project would be April 11th, 2013. However, the case states that if the project starts in November, bad weather could affect the outside operations, adding as much as 2 months to the duration. If we add 2 months to phase 1, the entire project is delayed 2 months. However, if the delay only occurs in phase 2, than the end date of the project would not be affected since no tasks have phase 2 as a predecessor. This is quite unlikely since it would impossible, in real life, to proceed to phases 3 and 4 (Enclosures and Interiors) without first completing or at least having a certain percentage completed of phase 2 (Structure). For this reason, I choose to add 2 months in phase 1 and therefore have a new end date of July 4th, 2013. Please note that I have also considered that the 2 months delay include the Christmas and New Year holidays. Gantt charts of both start dates (including the...
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...Perceptual Maps Marketing MKT/421 Perceptual Maps Phase 1 – Description – Where is the Thunder? In this phase the marketing manager, SARA needs to reverse the latest trends in the market with a new marketing plan. Before doing so, she needs to know and understand where Cruiser Thorr’s position in the market. SARA needs to choose the four fundamental parameters that are most relevant to the motorcycle industry and that reflect the highest potential for Cruiser Thorr. Phase 1 – Recommended Solutions SARA chose the following four parameters in the simulation: • Service Offerings • Price • Engine Capacity • Safety SARA chose these four parameters because, according to the market research ratings, Cruiser Thorr scored very low ratings in these categories. Cruiser Thorr is already strong in the other parameters and to be the best, Cruiser Thorr needs to improve their weakest attributes in the business. Her intention is to better the weakest links of Cruiser Thorr. Service Offerings are an easy way to keep our consumers interested once a purchase has been made. A competitive price allows our consumer market to expand. Engine Capacity is important in the motorcycle industry and “usually, the bigger the engine, the higher the brand image” (University of Phoenix Student website, 2012, Phase 1). Safety is important because we want the trust of our consumers and want to keep them as safe as possible. Results and recommendation from the simulation. The simulation stated...
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... MARKETING PLAN Cassius Matthis Principles of Marketing | MKT230 BLC | AN150326.0429.5W April 27, 2015 Russell Corpron The Waters Bottling Company 2015 Marketing Plan TABLE OF CONTENT Section 1 – The Environment * Introduction to Marketing * The Marketing Mix * The Marketing Environment * Marketing and its relationship with other functional areas of business * Strategic Marketing * Planning Process * Strategy * Organizational Levels * Goals and Objectives * Planning Gap * Ethics in Marketing Section 2 – Market Research & Targeting * Market Research * Research Methods & Data Mining * Market Research Process * Consumer Behavior * B2C vs. B2B * Consumer Decision Making Process * Factors Affecting B2C and B2B consumer behavior * Market Segmentation * Market Segmentation Concepts * Segmentation Process * Segmentation Strategies * Target Marketing Section 3 – Product & Price * The Product * Product Levels: Core, Actual, & Augmented (Packaging) * Product Life Cycle * BCG Model * Services Marketing * Price Determination...
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...Journal of Business Studies Quarterly 2009, Vol. 1, No. 1, pp. 16-25 ISSN 2152- 1034 A Case Study on Classic Airlines: Practical Marketing Solutions Milaly Tokhi, San Jose State University Abstract In today’s competitive arena, organizations must use all possible means to maximize growth and profitability by focusing on strategic marketing. Classic Airlines has an opportunity to alter the landscape of the airlines industry. In order to succeed, Classic Airlines must be able to correctly forecast market potential and future demand, by establishing long-term marketing objectives. Key words: Marketing, business, organizations, cross-functional teams, environmental scanning. Classic Airlines Classic Airlines is facing an organizational issue. External and internal marketing programs have not been able to satisfy the needs and wants of the stakeholders. Target customers are looking at the services offered by other airlines to satisfy their wants and needs. This has resulted in poor sales and reduced profits for the company. The marketing plan of a firm “helps the firm connect with its customers” (Kerin et al., 2006). Therefore, Classic Airlines wants to develop an effective plan of action that will not only help attract and retain customers, but also boost sales and profits. The Situation Issue and Opportunity Identification Classic Airlines is a 25 year old company that commands a fleet of more than 375 jets that serve 240 cities with more than 2300 daily flights. The...
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...1. Draw a Gantt chart for the construction phase of the program. What is the completion date if construction starts in March? What is the completion date of the project if construction is started in November? If the project is started on March 1st, 2012, the finish date is July 30th, 2013. For the November start date, the case does not mention exactly what date the project should start but rather mentions that it should start after the elections. We do not have the election date so I will assume a start date of November 14th, 2011, which is a Monday. In this case, the end date of the project would be April 11th, 2013. However, the case states that if the project starts in November, bad weather could affect the outside operations, adding as much as 2 months to the duration. If we add 2 months to phase 1, the entire project is delayed 2 months. However, if the delay only occurs in phase 2, than the end date of the project would not be affected since no tasks have phase 2 as a predecessor. This is quite unlikely since it would impossible, in real life, to proceed to phases 3 and 4 (Enclosures and Interiors) without first completing or at least having a certain percentage completed of phase 2 (Structure). For this reason, I choose to add 2 months in phase 1 and therefore have a new end date of July 4th, 2013. Please note that I have also considered that the 2 months delay include the Christmas and New Year holidays. Gantt charts of both start dates...
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...Twheel Marketing Plan Juan Carlos Vargas March 30, 2011 Keller Graduate School of Management MM522 Marketing Management Zach Yabs 1.0 Executive Summary The Twheel is an innovation on the pneumatic tire that uses an internal structure of spokes instead of air pressure to hold a tire together. The Twheel will provide value to customers via increases in performance, safety, and durability, as well as decreasing maintenance times, and environmental and personal costs. There are issues to contend with such excessive vibration and safety concerns that must be corrected. The Twheel will be introduced to the U.S. market in a three phase roll-out. The Twheel will gain acceptance in the market through an initial deployment into auto-racing, which will showcase the effectiveness of technology to the masses. Coinciding with the auto-racing deployment will be heavy advertising and promotions budgets, as well as celebrity endorsements that will establish the brand image. The roll-out will then proceed to the luxury car segment at premium pricing, and then conclude with mass retailers and most car manufacturers at reduced prices. The time frame of the initial roll-out will be approximately 5 years. Future targets will include military, construction, and specialty personal transportation vehicles. 2.0 Situational Analysis 2.1 Market Summary The tire industry is well developed, yet the emerging Twheel will have its own industry...
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...Analyzing Marketing Problems and Cases HIGHLIGHT 1 A Case for Case Analysis Cases assist in bridging the gap between classroom learning and the so-called real world of marketing management. They provide us with an opportunity to develop, sharpen, and test our analytical skills at: -Assessing situations. -Sorting out arid organizing key information. -Asking the right questions. -Defining opportunities and problems. -Identifying and evaluating alternative courses of action. -Interpreting data. -Evaluating the results of past strategies. -Developing and defending new strategies. -Interacting with other managers. -Making decisions under conditions of uncertainty. -Critically evaluating the work of others. -Responding to criticism. Source: David W. Cravens and Charles W. Lamb, Jr., Strategic Marketing: Cases and Applications, 4th ed. (Homewood, IL: Richard D. Irwin, 1993), p. 95. The use of business cases was developed by faculty members of the Harvard Graduate School of Business Administration in the 1920s. Case studies have been widely accepted as one effective way of exposing students to the decision-making process. Basically, cases represent detailed descriptions or reports of business problems. They are usually written by a trained observer who actually had been involved in the firm or organization and had some dealings with the problems under consideration. Cases generally entail both qualitative and quantitative data, which the student must analyze to determine appropriate...
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...applied. In a bid to for 3GM to reverse continuous drops in market share, a new marketing campaign plan has been drawn up which is to be implemented using project management principles and techniques. Possible reasons for market penetration drops are identified; market research tools are analysed, effective research method is adopted and used to strategize future forecasts. Approaches to assessment of offered features by 3GM are recommended according to customer perception of the features. All approaches to be taken stand to reverse alarming depreciating 3GM market share and secure an appreciable market share for the future. Table of Contents 1. Introduction …………………………………………….……..………………... 4 2. Marketing Campaign and Planning...…………………….….……..……………... 5 2.1. Strategy Development ……………………………….…….………..…………... 5 2.1.1. Market Review .…..…………………………………….………..…………. 5 2.1.2. Technology Review …..…….………………………….…………..……….. 6 2.1.3. Strategy Analysis …..…………………………………….…………..……... 7 2.2. Program Development …………………………………………………….……. 8 2.2.1. Requirements …………………………………..………………………….... 8 2.2.2. Timelines ……………………………………..…………………………..... 8 2.2.3. Recommendations …………………………..……………………………... 8 2.2.4. Program Summary …………………………..…………………………...… 8 2.3. Implementation ……………………………………………………………….… 9 2.3.1. Analysis Phase ………………………………………………………..…....... 9...
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...UNIVERSITY OF ARUSHA MBA IN MARKETING AND ENTREPRENEURSHIP COURSE TITLE: SERVICE MARKETING AND PLANNING MANAGEMENT COURSE CODE: MKTG 627 PARTICIPANTS NAME: SAITOT K JOEL REG //: 2015010034 NAME: STEPHEN L SULTAN REG //: 2015010035 LECTURER’S NAME: Dr. JANETH ASSIGNMENT N0 1 Describe the stages of the product life cycle and how marketing strategies change during the product life cycle. INTRODUCTION All products and services have certain life cycles. The product life cycle refers to the period from the product’s first launch into the market until its final withdrawal and it is split up in phases. During this period significant changes are made in the way that the product is behaving into the market i.e. its reflection in respect of sales to the company that introduced it into the market. Since an increase in profits is the major goal of a company that introduces a product into a market, the product’s life cycle management is very important. Some companies use strategic planning and others follow the basic rules of the different life cycle phase that are analyzed later. The understanding of a product’s life cycle, can help a company to understand and realize when it is time to introduce and withdraw a product from a market, its position in the market compared to competitors, and the product’s success or failure. For a company to fully understand the above and successfully manage a product’s life...
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