...Perceptual maps are an excellent way for companies to view how there companies’ marketing is working in certain components of marketing aspects. Perceptual maps give a snapshot of what their customers think about certain attributes of a companies products such as; price, design, quality, etc. The amounts of attributes used in a perceptual map are endless, however, there are only four attributes used in one perceptual map at a time. So it is important for companies to choose the right attributes on the map to find out the pertinent information they are trying to find out. In this simulation I was asked to help out CruiseThor, which is a motorcycle company that deals in high-end motorcycles. Their current product line, which has been quite successful, has been falling off lately and they are trying to decide on a new direction to take to help increase their market share. The first part of the simulation had us analyze the current market evaluation of customer’s perceptions of CruiseThor motorcycles. I chose to analyze the current price, lifestyle image, product services, and finance options. I chose these attributes because these were the ones that received the most negative remarks in the research data. My choices according to the simulation were good ones because these were the ones that were most important to the company to figure out why the current product line is under-performing. From there we had to make a decision on what to do inside the CruiseTho compound. We...
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...During week 4 of clinical placement I was able to do 3 assessments on my resident. In the morning, the PSW assigned four residents for me to do morning care. Including my resident, I did all of them by myself and got them all to the dining hall in time for breakfast. While doing my resident’s care, I was talking to him and I went over what I had plan on doing for the day. I told him about the assessments I would like to have done with him. I asked him if he would give me consent to do these assessments and he gladly said that it is okay with him. I was happy that I was able to convince my resident to get up for breakfast, the PSW transferred him to his chair, and I helped him with his breakfast at the dining hall. After breakfast, the PSW did a...
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...The channel marketing decisions on the iGlasses product will create a string market. Focusing on the age group of twenty to thirty year olds is a key decision as this group is the upcoming technological group of our time. Bu using the pull promotional concept the iGlasses product will be showcased and can be sampled to prove how a consumer will get their monies worth. The distribution channel will go two ways; first the product will be available through the Apple iGlasses website to be purchased directly from the manufacturer’s preferred distribution company. The Apple website will have a free online training video to help the consumer learn to use the product purchased. The product will be delivered FedEx Express within 7-10 business days with a two day handling allotment. By using Fed Ex we can guarantee fast safe delivery. The second Channel will be through retailers such as, Best Buy, Staples, Office Max, Circuit City, radio shack and other electronic retailers. There will be a DVD training session that the retailor can offer to teach the consumer how to use their product. By not using amazon.com or ebay.com we can stay focused on the correct target audience and keep the retail value where is should be at $1500.00 The cost for the distribution channels discussed will be minimal. By keeping the product distribution within the company’s manufacturer and their choice of distribution companies the product will be distributed for a fraction of the cost as hiring an outside...
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...Using Perceptual Maps in Marketing Simulation Marketing /421 As a marketing manager for Cruiser Thorr who sells high end motorcycles. This organization is growing at a rapid pace. Indeed there is more structure needed to the marketing piece to sustain a successful business. Being that the industry of motorcycles is increasing annually. This organization must also work to satisfy the needs of their target customers. The organization must also work to differentiate themselves from other similar organizations as well. Key components in my opinion are the product uniqueness, safety, quality engineering and price. Situation Current situation is the fact that there needs to be an significant market plan put in place to help increase sales and meet the needs of young and older customers. There are fundamental assets that focus on 35-50 year olds. As well as 21-35 year olds who are buying motorcycles. The older clientele seem to be not interested in the current lifestyles that Cruiser Thorr symbolizes. However the younger customers do not have the disposable funds to buy the motorcycles. They prefer a lower cost that fits into their budget. Other concerns are factors related to their competitors. The worst part is that the competitors are eating into their market share. In which they are consuming the majority of the business. You’re recommended...
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...This week, week two, in management information systems we covered a variety of topics. A couple topics we talked about were the types of business information systems and Porter’s competitive forces model. There are many different types of business information systems, but some include, functional perspective, constituency perspective, functional systems within an organization, and the different systems used to deliver information to functional systems. Each of these systems has a different job and is important to an organization’s information systems. There are four different types of systems to deliver information to functional systems. These systems are the transaction processing system, management information system, decision support system,...
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...Introduction The blue ocean strategy in the environment of marketing is an extraordinary way to embark on creating a monopolistic customer base. It describes how the blue ocean strategy looks to find ways to build a new market segment that has no current existing businesses and without competing in a crowded marketplace with existing companies. As new technological innovations emerge daily, blue ocean strategy is rapidly growing. The paper will intel the characteristics of the blue ocean strategy while providing ideas of how to employ them into the business environment. Description and Importance of Blue Ocean Strategy Blue Ocean Strategy is a non-fiction business book written in 2005 by W. Chan Kim and Renee Mauborgne. Kim and Mauborgne sought to find a more vigorous strategy approach than Harvard Professor Michael Porter’s “five forces”. They argued that Professor Porter’s strategy would have businesses remaining in the “red ocean” where there’s heavy competition and a very crowded marketplace. The importance of the Blue Ocean Strategy is to encourage existing business customers to move from the red ocean which is characterized as a bloody, shark infested waters competition marketing environment to the blue ocean waters than has no competitors and ample amount of space to evolve new beginnings. Kim and Mauborgne used the Cirque du Soleil as an example of how the Blue Ocean Strategy can be successful. “Despite a long-term decline in the circus industry, Cirque du Soleil...
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...SAMSEL Share ... 183 Home Classroom Library Program Account PhoenixConnect Careers MKT/421 » Syllabus US/Arizona Time: Jul 29, 2014, 2:38 PM MKT/421 (BSDS1DBAM2) Class Home Week1 Week2 Week3 Week4 Week5 Full Syllabus Week2. Strategic Planning and Positioning. Jul 22 - Jul 28Week2 Strategic Planning and Positioning Jul 22 - Jul 28 / 13 points Tasks Complete the Learning Team Charter. Objectives/Competencies 2.1Identify the components of an effective marketing plan. 2.2Conduct a SWOT and competitive analysis. 2.3Apply the market research process in discovering and answering business questions. 2.4Apply a segmentation model to create a target market and develop a positioning statement. Learning Activities Required Reading Basic Marketing, Ch. 2 43 Reading Basic Marketing, Ch. 3 14 Reading Basic Marketing, Ch. 4 11 Reading Basic Marketing, Ch. 7 10 Reading Basic Marketing, Ch. 18 7 Discussion Favorite Brand Discussion 24 Discussion Product and Organization Selection and Approval 6 Discussion Research and Discussion 3 Video The Five Competitive Forces That Shape Strategy 1 Video Target: Inside the Bullseye 2 Video Positioning 11 Video Marketing Research and Segmentation 4 ERR Week 2 Electronic Reserve Readings Assignments ASSIGNMENT STATUS FRIENDLY NAME TITLE DUE DATE POINTS UNREAD COMMENTS Participation Week 2 Participation Due Jul 28, 11:59 PM /3 Presentation Marketing Mix Presentation ...
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...Marketing Tina Frank MKT/421 July 15, 2013 Roger Houthoofd Marketing has taken on new meaning in economic s these days. It used to be that a person heard the word “market and the consumer would think of a store to purchase items needed for personal or home needs. When a person thinks the term “market” he or she usually think of advertisements. In this paper will define what marketing is. The importance of marketing in organizational successes will be addressed with examples of the business world to support the explanation. Marketing is defined as “a process of production and exchange that is concerned with the flow of goods and services from producer to consumer” (Marketing, 2013, na), Marketing is a wide spectrum that starts with people who develop the product to the simplest handling of the product. While in the past marketing of a product was solely done by word of mouth and channels to get merchandise was slow, marketing still existed usually in shops or merchandise stores. With the increase in use of the automobile and paved roads companies have had an easier time to get goods from one place to another. With the invention of the Internet, television, and radio, it has become easier to market items that consumers need and want. With this advance in economics and technology new stores popped up nearly...
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...MKT/421 Final Examination Study Guide This study guide prepares you for the Final Examination you complete in the last week of the course. It contains practice questions, which are related to each week’s objectives. Highlight the correct response, and then refer to the answer key at the end of this Study Guide to check your answers. Use each week’s questions as a self-test at the start of a new week to reflect on the previous week’s concepts. When you come across concepts that you are unfamiliar with, refer to the Student Guide for that particular week. The Student Guide provides a breakdown of the readings that align to the Final Examination questions. Week One: Marketing Fundamentals Objective: Explain the importance of the marketing mix in the development of marketing strategy and tactics. 1. Dell, Inc. wants to offer customers televisions in addition to computers. This is a change in its a. pricing b. promotion c. personnel d. product Objective: Identify quantifiable elements that can be used to evaluate, monitor, and control marketing effectiveness. 2. Good marketing strategy planners know that a. firms like Nabisco and WalMart are too large to aim at clearly defined target markets b. target marketing does not limit one to small market segments c. mass marketing is often very desirable and effective d. the terms mass marketing and mass marketer mean basically the same thing Week Two: Marketing Research Objective: Identify various segmentation...
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...Week 4 Reflection MKT/421 Week Four Reflection Once again, Team C has had another week full of different information, which is critical to each persons’ major. In order to ensure that each member understood important parts of week four, each member chose an objective and wrote about it. Objectives which were discussed among team members of Team C include the channel of distribution, push and pull strategies, and direct and indirect distribution strategies. Channels of Distribution Channels of distribution are any series of firms or individuals who participate in the flow of products form producer to final user or consumer (Perreault, Cannon, & McCarthy, 2011, p. 284). The flow of products between the firm, intermediaries, and consumers is a large part of the overall profit margin of a firm that requires marketing teams to dedicate substantial time and planning towards choosing the appropriate channels. Distribution channels are a firms way in which they can get products to from manufacture to intermediaries and consumers in a direct or indirect manner that revolve around the Place within the marketing mix. Direct and Indirect Distribution The direct method of distribution channels involves going directly to the consumer. Firms bypass the intermediary (wholesaler) and issue the product to the consumer at the wholesaler’s price. This method is most often used for new...
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...MKT 421 Week 4 Blue Ocean Strategy Paper Blue Ocean Strategy - Introduction The blue ocean strategy in marketing is a unique approach to building a customer base. Rather than try to compete in a crowded marketplace with existing companies, a blue ocean strategy looks to build an entirely new market segment that has not other existing firms. With the rapid growth of technology and globalization, the importance of a blue ocean strategy has grown in recent years. The following essay will analyze the blue ocean strategy and offer suggestions on how it can be employed in the modern business environment. What is a Blue Ocean Strategy in Marketing? Companies must consider the four Ps of marketing when developing a new offering, which include product, placement, price, and promotion. In order to compete successfully, it is necessary to give consumers a certain value proposition. For example, a firm can offer a product at a lower price or at a higher quality than what is presently offered by other firms. But what if a firm could avoid having to deal with competition altogether? This is exactly what the blue ocean strategy attempts to do – create a new marketplace that is free of competitors. Marketers build an entirely new product or service that is currently unknown to consumers. It is necessary to thoroughly educate the public about the new product in order to gain interest and confidence. Once this has been completed, the new product will be positioned in point that provides...
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...Running Head: DEFINE MARKETING PAPER 1 Define Marketing Paper Mary Riddell MKT/421 February 3, 2014 Ralph Schoen DEFINE MARKETING PAPER 2 The schoolbook defines marketing as; Marketing is the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to the customer or client. My personal definition is; Applying to both profit and nonprofit organizations, marketing is done by completing tasks geared towards a potential organizations goals and objectives. Directing the flow of goods, needs, wants, or demands of the customer or client from the producer, when completed successfully meets those requirements, the product should sell itself. Marketing makes it way into our daily lives. While watching television, listening to the radio, reading a magazine or newspaper, roaming the Internet, and even walking down the street. We are exposed to marketing to sell us products or impact our life somehow. Marketing is what keeps radio stations and TV stations running, paying the station the run its ad to gain exposure for more profits. Every job will have marketing in some way to bring in more customers which in return is more money for the business, even down to one's resume, which is a way or marketing ones self to the employer. Businesses goals are to become profitable...
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...DEFINE MARKETING 1 Define Marketing Larry Jean Baptiste University Of Phoenix Unit 1 Individual Project Course: MKT/421 Facilitator: Henry Weber May 13, 2013 DEFINE MARKETING 2 Define Marketing Marketing is the performance of activities that seek to accomplish and organization’s objectives by anticipating customers’ or clients’ needs and directing a flow of need-satisfying good and service form producer to customers or clients. (Perrault, Cannon, & McCarthy 2011) In my opinion Marketing is a way that organizations or corporations communicate to potential and current customers in reference to having products or services that they need or desire at an affordable price. Marketing is the process of technique of promoting, selling, and distributing a product or service. (Marketing (n.d.) http://www.merriam-webster.com/dictionary/marketing.) Marketing play a vital role in an organization’s success, because without a marketing plan on how to distribute , promote, and inform potential customer and current customers of products or services that the company provides, then failure of the company is inevitable. There are a lot of competitors out there, due to this fact an organization have to place big emphasis on marketing, because not only do the company have to get the information about eh products and services to the customers in order for them to make an informed decision to get the product or service. They also have to do it cost effectively...
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...Running head: MARKETING RESEARCH PAPER Marketing Research Paper Aida Eulloqui University of Phoenix MKT/421 October 08, 2012 Marketing Research Paper Marketing Research Paper for Kudler Fine Foods Kathy Kudler would relieve her stress by using gourmet cooking. In the journey of finding the ingredients she learned she needed to travel to different locations. Kathy chooses to open her own area of expertise, a convenient food store to purchase products needed for gourmet cooking all in one place and at a reasonable price. In this paper will identify areas in which there is need for additional research and analyze the importance of competitive information and analysis in regard to the development of Kudler Fine Food’s marketing plan and tactics. According to Kudler fine Food’s Vision Statement,(Strategic Plan, 2003 “p1”) “Kudler Fine Foods will be the premiere gourmet grocery store for those savvy shoppers who are searching for the finest meats, produce, cheeses, and wines” Kudler Fine Foods strives to provide its customers with the freshest baked goods, produce, meats, seafood, cheese, specialty dairy products, and wines. Kathy Kudlers goal is to be the specialty food store gourmet cooks look to when shopping for the ingredients for their culinary creations. The opening of her first store in 1998 proved to be an immediate success. Kathy has opened two other locations since. A prominent goal of marketing research...
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