...Samuel Hagan Priciples of Marketing Cheryl Bernier 8/23/15 Unit 1 Homework Chapter 1 6. Buying – the act of searching for and obtaining goods and services Selling – the act of finding buyers and then selling to those buyers the product(s) or service(s) you are producing Transporting – moving your product(s) or service(s) from one location to another, whether it be to a new selling point or to the buyer Storing – holding onto product(s) or service(s) until they are needed or sought for by a buyer Standardization & Grading – keeping product(s) or service(s) organized Financing – provides the currency needed to perform the functions of marketing Risk Taking – involves accepting the possibilities of failure, in all its forms, throughout the marketing process Market Information – involves obtaining information regarding the surrounding market, and analyzing in to plan your approach The marketing functions can sometimes shared – for example the sales department can be in charge of gathering market information for the company. The information gathered while the sales team is out in the field can then be provided to the analytics department to help the company consistently adjust its sales approach. 16. A) A benefit could be the watch being waterproof; a cost could be that the same watch is half the price at a store on the other side of town B) A benefit could be losing weight in a short period of time; a cost could be how uncomfortable that particular product...
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...Research Project (Starbucks) Angelo R. Jones BBA 3201-Priciples of Marketing Columbia Southern University Promotion Starbucks company concept began by trying to bring the Italian coffee bistro experience in the northwest. Its owners believe that if they can “inspire and nurture the human spirit – one person, one cup and one neighborhood at a time” (Starbucks Corporation, 2016) they can continue to grow their business successfully. This is their mission statement which drives their marketing concept as they focus on the following points: a. The perfect cup of coffee – the company primary focus is to provide the best cup of coffee to their customers. They want to provide an upscale experience that captures the...
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...Diagnosing the Change Managing Organizational Change Emiliano Delucia Keller Graduate School of Management DIAGNOSTIC MODELS One of the main purposes of diagnostic models is to find a way to identify external and internal factors that can affect the working conditions of an organization. Many diagnostic models have been developed along the years to ensure these factors are well identified and the organizations can function properly following a certain model. The diagnostic model that will be analyzed in this paper is Burke-Litwin. BURKE-LITWIN MODEL The Burke-Litwin model describes multiple factors and drivers of change that can be seen from top to bottom in the following diagram: This model owes its original development to the work of Litwin and his associates (Litwin & Stringer, 1968; Tagiuri & Litwin, 1968), and has been refined through a series of studies directed by Burke and his colleagues (Bernstein & Burke 1989; Michela Boni, Schecter Manderlink, O’Malley & Burke, 1989). This model shows that organizational change, especially an overhaul of the company business strategy, stems more from environmental impact than from any other factor. (Burke & Litwin, 1992). Burke-Litwin posits that the causal model has foundations rooted in Katz and Kahn’s general systems theory (1992). This structure requires some definition of leadership that may create actions within an organization. These actions could likely effect the organizations meaning, cultural...
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...Research Topic Impact of brand differentiation by 4Ps on the sales of the organization, Textile Industry, Selangor, Malaysia Research Topic 1 CHAPTER 1: INTRODUCTION 3 1.0 Introduction 3 1.1 Background of the Study 4 1.2 Motivation for the Study 4 1.3 Problem Statement 6 1.4 Research Questions and Research Objectives 7 1.4.1 Research Questions 7 1.4.2 Research Objectives 7 1.5 Contribution of the Study 7 1.6 Structure of Dissertation 8 1.7 Chapter Summary 8 Chapter 2: Literature Review 9 2.1 Introduction 9 2.2 Brand Differentiation 9 2.3 4Ps of Marketing 16 2.3.1 Product 20 2.3.2 Price 21 2.3.3 Promotion 23 2.3.4 Place 25 2.4 Organizational Performance & Sales 26 2.5 Textile Industry, Malaysia 29 2.6 Theoretical Framework 32 2.7 Hypotheses Development 33 2.8 Conclusion 33 Chapter 3: Research Methodology 34 3.1 Introduction 34 3.2 Quantitative Research method 34 3.3 Research Design 35 3.4 Research Strategy 36 3.5 Research Data 37 3.6 Unit of Analysis 39 3.7 Sampling Technique 40 3.8 Data Analysis 41 3.9 Research Reliability & Validity 42 Conclusion 43 Reference 44 CHAPTER 1: INTRODUCTION 1.0 Introduction A brand is a name, term, configuration, image or other element that interesting so it can identify and differentiate the offered product from others. The brands are way through which brands are involved in promoting and advertising the products of the company. The brand...
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...MARKETING PRICIPLES AND CONCEPTS SOCIETAL MARKETING Effective internal marketing must be matched by a strong sense of social responsibility. Companies need to evaluate whether they are truly practicing ethical and socially responsible marketing. Several forces are driving companies to practice a higher level of corporate social responsibility: rising customer expectations, changing employee expectations, government legislation and pressure, investor interest in social criteria, and changing business procurement practices. The societal marketing concept holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being. The societal marketing concept calls upon marketers to build social and ethical considerations into their marketing practices. They must balance and juggle the often conflicting criteria of company profits, consumer want satisfaction, and public interest. The societal marketing concept is an enlightened marketing concept that holds that a company should make good marketing decisions by considering consumers' wants, the company's requirements, and society's long-term interests. (It is closely linked with the principles of corporate social responsibility and of sustainable development). The concept has an emphasis on social responsibility and...
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...www.ccsenet.org/ijms International Journal of Marketing Studies Vol. 3, No. 2; May 2011 The Influence of Brand Loyalty on Cosmetics Buying Behavior of UAE Female Consumers Dr. Hamza Salim Khraim Marketing Department, Faculty of Business Middle East University, Amman, Jordan E-mail: hkhraim@meu.edu.jo Received: January 24, 2011 Abstract The worldwide annual expenditures for cosmetics is estimated at U.S. $18 billion, and many players in the field are competing aggressively to capture more and more markets. The purpose of this article is to investigate the influence of brand loyalty on cosmetics buying behavior of female consumers in the Emirate of Abu Dhabi in the UAE. The seven factors of brand loyalty are brand name, product quality, price, design, promotion, service quality and store environment. Questionnaires were distributed and self-administered to 382 respondents. Descriptive analysis, one-way ANOVA and Pearson Correlation were used in this study. The findings of this study indicated that brand name has shown strong correlation with brand loyalty. The research results showed that there is positive and significant relationship between factors of brand loyalty (brand name, product quality, price, design, promotion, service quality and store environment) with cosmetics brand loyalty. Keywords: Female buying behavior, Brand loyalty, Cosmetics, UAE 1. Introduction The history of cosmetics spans at least 6,000 years of human history, and almost every society on earth...
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...Ta’Kita Boykin REI Marketing Environment Worksheet List the current characteristics of each environmental factor as they relate to REI. U.S. Economy How does the current U.S. economy affect REI retail operations? 1. If the economy was in a depression, people would begin saving money and limiting their spending habits, which in turns results in a decrease in online/in-store purchases for REI because the value of their goods/products would have to increase. There will less buying for some goods and supplies which decrease the company’s sales and revenue. 2. Employees within the companies would lose jobs (turnovers) or employees making less money. Global Economy How does the current global economy affect REI retail operations? 1. If some products or goods were bought or traded from another country and the currency values were increase, REI would have to purchase these items at a higher price also and the scope of REI’s prices would decrease because customers would realize that the prices for what they want are too expensive and not want to buy them. 2. Fair Labor. REI has joined with other associations such as Outdoor Industry Association (OIA) and Fair Factories Clearinghouse (FFC) to crack down and ban fair labor violations. Legal and Regulatory Environment What types of legal and regulatory forces affect REI in the U.S.? 1. Consumer privacy. By REI customer’s using their social security numbers, credit cards, checks, and debit cards to make purchases...
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...KUTCHEN March 24, 2013 MARKETING ANALYSIS REPORT BY: BRIDGETT BLUNT EXECUTIVE SUMMARY Lortex Lutchen is the first company in the United States to ever create a comfortable toilet seat with state-of-the-art features, called Flush Max 1250. This product was created for consumers seeking a piece of mind in their private time. “Our mission is to provide the best in customized toilets, while integrating the latest in technology, to deliver quality and satisfaction to all our consumers. We are committed to the performance and consumer experience of Flush Max 1240 MARKETING MIX Setting a team of members to do a specific job as follows: • One would be responsible for external and internal environments. She/or he would keep up with the new technologies that comes out and keep track of the competition. • One would be responsible for marketing objectives and target marketing. He/ or she would focuses on what needs to be done for future purposes. • One would be responsible for product and pricing strategy. He/ or she would be in charge of setting prices and budgeting for the product. One would be responsible for marketing communication strategy. He/ or she would be in charge of the advertising, ads, sales, and promotion planning of the product. One would be responsible for distribution strategy and implementation and control. She/ or he is in charge of the action plan for marketing objectives. Being a brand new...
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...Executive Summary Introduction Blu-Ray Computer Design will provide computer and technical consulting to local small businesses as well as home PC users. In doing so the company will focus on marketing, responsiveness, quality, and creating and retaining customer relations. The Company Blu-Ray will initially be a sole proprietorship with minimum outside financing. Blu-Ray will be a home office start-up, utilizing one studio room in the owner's home and serving customers in the local Clearwater, Florida area. Blu-Ray Computer Design will be initially owned by Nigel Murrien. Depending on growth, the company will possibly add additional employees and expand operations. The Market Market research indicates an available market niche able to be occupied by additional businesses of this nature. The very nature of the computing industry, with its extraordinary rate of technological development, creates a constant need for businesses skilled in updating and advising customers on computer-related issues. Home PC users will provide the majority of our business revenue. These jobs will typically consist of minor upgrades services and advising. Business Week expects the computing industry to grow at a rate of 12% and the processor speeds to continue to expand for years to come, providing a rich resource for sales. Blue-Ray Computer Design has decided to focus mainly on the home PC market for many reasons. These home customers typically request jobs that are easier, faster, and less...
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...Marketing Mix “The four P approach has led to a manipulative attitude to people” (Gummesson, 2002:285). “What marketing deserves is new approaches, new paradigms, which are more market oriented” (Gronroos, 2002:140). “We propose that the mix has now reached its vanishing point, and we argue that marketing requires a new paradigm” (O’Malley & Patterson, 2002:50). What is common among the above three quotations is the fact that they are all against the Marketing mix. They also share the common belief that it’s time for a radical change, one where the 4Ps are rejected for a new paradigm. But the importance of the 4Ps is being undermined. Despite its limitations, they still form the base which is being used by modern organizations. This paper attempts to show the importance of the marketing mix for modern marketers and that it cannot be relegated from modern marketing strategy. The paper is divided into six parts. Beginning with the introduction it then moves on to the development of the marketing mix theory. The third part contains the literature review of the mix. The fourth asserts that marketing mix in conjunction with RM and CRM can result in a successful marketing strategy and the fifth uses Lexus as an example to prove this assertion. It ends with the conclusion. What Is Marketing Mix? The Oxford Dictionary of Business and Management’s definition of the Marketing Mix is of “the factors controlled by a company that can influence consumers’ buying of its products” (Anon...
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...1) Research SAP – discuss in YOUR words: what is SAP, what are some of its functionality, do research to determine its strengths and weaknesses. This should be 2 paragraphs – at least 20 sentences! In June 1972 5 IBM programmers created a company called Systems Analysis and Program Development after having worked on a program called SAPE for IBM. The programmers were originally pulled off the SAPE project but wanted to continue their work. Selling stock from their time at IBM the original founders of SAP were able to continue work on the SAPE program and eventually create many solutions for business. SAP is now one of the world’s largest software development companies focusing in Enterprise Resource Planning (ERP) software. SAP has locations in over 130 countries and is the world’s leading ERP developer. SAP focuses on 6 primary industries: discrete, process, consumer, service, financial, and public services. SAP also offers integrated solutions for large enterprise companies as well as small and medium size businesses. Currently the SAP ERP Business Suite offers 5 ERP solutions for businesses intended to cover the scope of all solutions a business may need to be successful. Supplier Relationship Management (SRM) – this software allows companies to make orders from suppliers handling things such as inventory, scheduling, and cost analysis. Product Lifecycle Management (PLM) – This software allows manufacturers to maintain accurate product information that enables...
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...Project Report Launching the BMW Z3 Roadster Introduction BMW Z3 is the 1st BMW car which is being manufactured in North America, a market which has contributed only 16% to BMW s revenues. At the same time, the American customer has found itself very difficult to relate itself to a foreign brand. Here lies the challenge for BMW and the marketing efforts behind the Z3 campaign are aimed at changing this perception of the American customer and ingrain BMS s brand image in the hearts of Americans. Phase1 which was not a run of the mill marketing campaign created a huge buzz and was deemed a huge success. The campaign revolved around the placement of the BMW Z3 in the James Bond Movie, GOLDENEYE as Bonds new car. Several other non-traditional elements such as being part of the Neiman Marcus Christmas Catalog, product appearance on the Jay Leno show, and launch at Central Park ensured an out-of-the-box prelaunch. The challenge now is to leverage the buzz and design Phase II marketing strategies which will convert the interest generated into revenues for BMW. Strategic Significance of the Launch The launch is especially significant for BMW because the success of the entire U.S. operations of BMW crucially hinged on it. Moreover, BMW hopes to position the BMW brand firmly in American culture and settle into the hearts and minds of the American public through the launch. It was also meant to promote the vehicle as a cultural icon in America. Further, the launch demonstrates that...
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...In a Brand mantras are short; there is 3-5 word phrases are supposed to relay everything the seller is trying to convey to his consumers. Not only is it conveying a message to the consumer but also everyone associated with the organization, everyone from the sales staff to the marketing so they can understand the essence the organization is trying to capture. Also the brand positioning is an important aspect and as a matter of a fact where everything starts when an organization wants to create their brand. Its concept is to capture where the organization wants to target the market with their product/service. It is supposed to capture the brands essence in its design and easily convey that to the minds of the consumers. And important aspect of a brand that is associated with its reputation I believe is the point-of-difference. The point of difference are unique associations (meant to be positive) that the consumers make only with a particular brand, versus the point of parity, which are associations that are shared with competitors. How a brand is different in terms of what it offers to a consumer is very important for its reputation that is called its differentiability. Its deliverability is the commitment and its ability to use its resources accordingly to make sure its product/services deliver what it promises. Some of the advantages that an organization can benefit from once their brand and product is out in the market; is it creates a good perception of product performance...
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...31/08/2011 Group 2 – Kieran Tierney Marketing Plan: Vifon Cup Noodles Contents 1. EXECUTIVE SUMMARY 3 2. CURRENT MARKETING SITUATION 4 2.1. Introduction 4 2.2. Situation analysis 4 2.2.1. Microenvironment 4 2.2.2. Macroenvironment 6 3. SWOT ANALYSIS 9 4. OBJECTIVES 10 4.1. Corporate objectives 10 4.2. Financial objectives 10 4.3. Marketing objectives 10 5. SEGMENTING, TARGETING AND POSITIONING 11 5.1. Segmentation table 11 5.2. Targeting 11 5.2.1. Evaluating Market Segment 11 5.2.2. Target marketing strategy 12 5.3. Positioning 12 5.3.1. Positioning map 12 5.3.2. Possible value different and competitive advantage 12 5.3.3. Choosing the right competitive advantages 13 5.3.4. Overall positioning strategy 13 5.3.5. Positioning statement 14 6. MARKETING MIX STRATEGIES 14 6.1. Product strategy 14 6.1.1. Brand Life cycle stage 14 6.1.2. Levels of Products and Product strategy 15 6.1.3. Brand Development Strategies – Line extension 16 6.2. Price Strategy 16 6.2.1. Product Mix Pricing Strategies 16 6.2.2. Price-Adjustment Strategies 17 6.3. Place strategy 17 6.3.1. Administered Vertical Marketing System 17 6.3.2. Multiple distribution channels 18 6.3.3. Channel design 19 6.4. Promotion 19 6.4.1. Promotion mix strategies 19 6.4.2. Promotion tools 20 7. ACTION PROGRAM 23 8. CONTROL PROGRAM 25 REFERENCES 26 1. EXECUTIVE SUMMARY Vifon (Vietnam Food Industries Joinstock Company) seeks to provide a...
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...1.0 Introduction: 1.1 Purpose of the Report: The report is the first phase of a modified integrated marketing and communication plan for a new treadmill called Digi-Sprint. 1.2 Description of Digi-Sprint: Digi-Sprint is the only treadmill that has a retractable integrated touch screen computer with Wi-Fi, voice reader and webcam. The screen is retractable to fit the different consumer’s different needs as some would prefer to have the screen at a distance while others prefer it to be at a close range. For consumers who do not like reading while running the voice reader would read out the required areas of the website. Another main feature of Digi-Sprint is that it is silent. It does not emit noise like other treadmills. (Refer to table 1 in the appendix for all the features of Digi-Sprint both tangible and intangible characteristics). 1.3 Brand Image and Brand Identity: “Brand identity is a combination of name, logo, and design.” (Blech, Blech, Kerr & Powell, 2009). Digi is short for digital which implies to the consumers that the treadmill is digitalised and sprint is supposed to represent the athletic factor of the treadmill. The brand image that the company wants consumers to associate with the Digi-Sprint is that it is a sophisticated, intelligent high-end brand treadmill that is revolutionary and entertaining. The sophisticated image is to be achieved through the sleek and complex design. Intelligent is accomplished through the sharp, quick and innovative interface;...
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