...Marketing Marketing realities today are shaped by forces in the society including new consumer capabilities and new organization capabilities. Technology is empowering consumers and organization in ways that are not possible in the past. As such, marketing goes beyond attracting customers, it is involving beating competitors, connecting with customers to build value satisfaction and long-term loyalty (Kottler, 2012). Hence for the IT business venture, marketing starts from internal, taking care that employee are well trained to be able to deliver value, sharing information and that will add value to the customer, ensuring that our services offering reaches our target audience and deploying projects based on best practice to delight customers, and ensuring a tightly integrated after sales support in all our projects. Below represents marketing plan for the organization. Management The role of management team is very critical to sustainability of any business venture. Ability to build and keep teams together is critical to the success of any organization whether old or new. Having the right people in the right role aligning with the vision of the organization, is the hallmark of high performing the organization (Cardon, M.S., 2008). Management team play a great role in building and keeping teams together and ensuring that they perform optimally for the common goal of all stakeholders, customers, suppliers, employee, shareholders etc. Managing a new business venture is quite...
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...Creating, Financing, and Marketing a Business Stacie Mason-Lyons Dr. Martin BUS 100 February 26, 2012 . A partnership is when two or more people come together to form a business. There are at least three different types of partnership: First is the general partnership, where all owners have the same stake in the business’s daily functions and financial liabilities; second is the limited partnership. The limited partnership defines a partnership where at least one partner acts as the general partner, and at least one is a limited partner. All partnerships require at least one of the partners to be a general partner, or owner. The limited partner(s) will normally have a financial stake in the business, but will have no bearing on its daily functions and very limited financial obligations, other than their initial investment. The third type of partnership is a newer form of partnership, and is known as the Master Limited Partnership (MLP). The MLP looks much like a corporation and is even traded on the stock exchange; yet, it is taxed like a partnership, avoiding corporate income tax. So, what are some of the advantages and disadvantages of the partnership in a business? There are many advantages to having one or more partners in a business and few disadvantages. As long as it’s the right business relationship, it can make running a business much easier and less stressful. For instance, partners can fill in for each other when traveling, if the other is sick...
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...“Marketing is the first activity in starting a new business venture” Introduction: Marketing is the first and most important activity for a new business venture. Marketing introduces business in the market. Marketing plays a vital role in building new business venture's reputation. Company / Firm doesn't take back move to spend more money on marketing. Because initially, this is the only way where the company can pull the attention of many customers. Consumers get to know more and more about the products through marketing. Let's have a brief discussion about the importance of “Marketing”, why it should be prioritized the most in starting a new business venture. Brand/Name & Fame Recognition: Consumers look for “Branded Materials” now a days. So “Brand Recognition” can only be possible with high marketing activities. Marketing is one of the most powerful activities which provides brand recognition to business venture. With Marketing, We get to decide how do we want to rank our company and what we want consumers to know about what we do. We can build a reputation for our brand around our venture's values, benefits and advantages, with consistent effort and great content. Importance on Community: The products of the business venture will be more publicized if “Marketing” gives importance on the mindset of the community. Company should understand in what way they can attract the community. The business acquisition in One community will definitely help the...
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...2.2 MARKETING STRATEGIES Marketing has assisted in building organizational profitability through defining and maintaining customer satisfaction. Its concept has aided firms to achieve success in competitive markets throughout the world. To be successful in marketing in which economic growth has leveled and there exists many competitors and new innovations a well-developed marketing strategy is required. This strategy considers an organization’s mission and vision, parameters of products and anticipated actions of competitors in the targeted markets (McGrath, 2000). Ferrell et al, 2008 postulates that one of the greatest challenges and opportunities in marketing is change and strategies which are successful today will not work tomorrow. As such Steven Stalser, 2004 suggests that a strategy is not just a singular unchanged plan but rather a continual process of assessment, re-assessment and analysis which constantly provides direction to a firm. “Strategy is the direction and scope of an organization over a long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations” (Johnson and Scholes, 2005). A marketing strategy can be defined as “A strategy that integrates an organization's marketing goals into a cohesive whole. Ideally drawn from market research, it focuses on the ideal product mix to achieve maximum profit potential. The marketing strategy is set out in a...
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...Marketing Strategy Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because firms that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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...Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because small businesses that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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...E-Commerce Marketing Plan for Gap Inc. | | Sonia Advani 12/07/2009 Table of Contents Executive Summary 3 Business Overview and Marketing Summery 3 Goals 4 Competition 5 The e-Marketing Objectives 7 The e-Marketing Strategies 9 Measuring Success 11 Situational Analysis 12 Summery 13 References 14 Executive Summary The Internet helps businesses to enter into the worldwide markets and reach broad categories of people whilst personalizing the buying practice for each one and offering active information on inventory, suitable prices, best-selling products, etc. However, traducing the goods and services to local people in a retail store is fine, and millions of businesses succeed in local trading. But, effectively trading the goods and services to more customers, more proficiently, by means of the Internet will augment businesses’ revenues. But successful survival over Internet demands sufficient e-commerce planning. The business of the bleu is a web based or ecommerce business that offers the customers the products from outfit and accessorize from head to toe with five basic brands. Bleu is aimed at offering and meeting the customer’s requirements for the unique lifestyle. Currently Bleu also established the business regarding the full range of “accessories and furnishings” for business customer to individualize their home, with unique style of living and wearing. This report will present detailed analysis of the Bleu ecommerce website marketing plan. This...
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...Defining Marketing What comes to a person’s mind when the word Marketing comes up? Marketing is a word that is used every day in a organization. The word marketing has so many definitions that one can use. According, ( Kotler, P. 2009 ) the best definition that best describes the word marketing is identifying organization objectives satisfying services and meeting the customer’s needs. A person might say that the word marketing only means to sell a product.Marketing does not just mean to sell products it means to care about your customers and sell them the best products. When managers are trying to market a certain product to their customer, they first want to make sure they know everything about that product. Managers want to make sure that they are selling the best product to their customers. Marketing is very important in organizations and without marketing; the company cannot make money, promote new products or be successful in their business. Marketing is always used every day in an organization. Marketing is the key in making organization be successful. When managers are trying to make money and make their company stand out this is where marketing comes in. The purpose of this paper is to explain the importance of marketing in organizational success. One will provide at least three examples from the business world to support their explanation. The importance of Marketing in organizational success The importance of marketing in organizational success is...
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...P1) Describe how marketing techniques are used to market products in two organisations. Marketing is the process of meeting the necessities and wants of customers. Most businesses today are having rivalry towards generating the most profits as there are a lot of competitors in the business world. Marketing techniques are one of the ways that a business would do to increase its productivity and sales. Starbucks and Nintendo are two different businesses and I will be evaluating about the marketing techniques that they do to attract more customers to increase their sales. Starbucks Starbucks is one of the largest coffeehouse in the world with more than 20,000 stores globally. Starbucks opened its first store in America by three business partners and they were inspired by another coffee businessperson that sells high-quality coffee beans and equipment. Starbucks sells cold and hot drinks, sandwiches, pastries and snacks. Starbucks mainly target customers are men and women that is from aged 25-40 because they almost account for half of their business. Starbucks’s Marketing Techniques Branding-Branding is the process that is included in making a unique name and image for the products in the customers’ minds. Starbucks use branding to meet its target customers. For example, customers can easily recognise what a Starbucks coffeehouse looks like because the logo of Starbucks can be seen so branding is a useful asset to meet its marketing objectives such as market penetration...
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...------------------------------------------------- Air New Zealand’s E-marketing Subject Name: Essential E-marketing strategy Subject Code : BK004 Tutor: Alanah Malkini Assessment Name: Individual Assignment ------------------------------------------------- Student Name: Yiming Sun ------------------------------------------------- Student ID: i144996 Introduction Marketing via the internet is a very dynamic phenomenon, since websites suddenly emerge and widely spread, it alter the way of people operating business and acquiring information. It is unquestioned that the centrality of internet in modern society. Nearly all aspects of modern life are operated and stayed online, such as communication, commerce, education, entertainment and so on. This trend was noticed by marketers and advertisers as well. Numerous companies advertise, sell and promote products and services via the internet. The successful marketing on the internet fulfill the development of a company. This essay wil throw light upon the e-marketing strategy of the New Zealand flag carrier -- the Air New Zealand Airline group. The principles, nature and scope of Air New Zealand’s e-marketing strategy will be analysed. In addition, this essay will explain the opportunities and challenges faced by the company when carry out e-marketing strategy. And lastly, micro and macro environment factors that impact the e-marketing strategy will be discussed in this essay as well. Discussion Air New Zealand adopted...
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...Diploma in Management STRATEGIC MARKETING SHS Task | Table of Contents | Page No | Introduction | 03 | Task 01 | 1.1: Assess the role of Strategic Marketing in an organization | 04 | | 1.2: Analyse the relationship between corporate strategy and marketing strategy | 04 | | 1.3: Analyse how marketing strategy is developed | 05 | Task 02 | 2.1: Evaluate approaches to internal environmental analysis | 06 | | 2.2: Evaluate approaches to external environmental analysis | 06 | | 2.3: Explain how internal and external analysis are integrated | 06 | Task 03 | 3.1: Analyse decisions and choices to be made at a corporate level | 09 | | 3.2: Assess how these decisions influence marketing at business unit and functional level | 09 | | 3.3: Analyse approaches to competitive positioning of organizations | 10 | Task 04 | 4.1: Identify a range of strategies that can contribute to competitive advantage | 11 | | 4.2: Analyse marketing communication strategies | 11 | | 4.3: Analyse marketing strategies, their application and implementation for an | 11 | Conclusion | 12 | References | 13 | Introduction: A marketing strategy is something that every single business, how big or small it is, no matter- needs to have in place. Some business owners are hesitant to set up an actual marketing strategy because they simply don’t know how to do it. All this kind of approach means simply trying something new every week or month whether it’s...
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...What is Marketing Strategy? Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives. Effective marketing starts with a considered, well-informed marketing strategy. A good marketing strategy helps organization define vision, mission and business goals, and outlines the steps need to take to achieve these goals. Marketing strategy affects the way organization run entire business, so it should be planned and developed in consultation with team. It is a wide-reaching and comprehensive strategic planning tool that: * Describes business and its products and services * Explains the position and role of products and services in the market * Profiles customers and your competition * Identifies the marketing tactics will use * Allows building a marketing plan and measuring its effectiveness. A marketing strategy sets the overall direction and goals for organization marketing, and is therefore different from a marketing plan, which outlines the specific actions you will take...
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...1. Marketing concept: The basic function of marketing is to attract and retain customers at a profit. The traditional marketing concept is companies achieve their profit and other objectives by satisfying customers. However, traditional marketing concept is necessary but not sufficient condition for company goals. Therefore, in order to achieve successful, the modern marketing concept is to achievement and set of corporate goals through meeting and exceeding customer needs and expectations better than the competition. However, marketing concept including three condition, customer orientation, integrated effort and goal achievement. First, Corporate activities are focused on providing customer satisfaction rather than others. For example, provide good customers service and producer convenience. Second, all staff need to accept the responsibility for creating customer satisfaction. Company should right to operation production, finance and developing department. Finally, the company achieves goals through customer satisfaction. However, there are has the limitation of marketing concept. Four issue, the marketing concept as an ideology, marketing and society, marketing as a constraint on innovation, and marketing as a source of dullness. Marketing orientation: Marketing orientation focus on customer needs. Company need to change present potential market opportunities to drive the company. Marketing orientation companies seek to demand of current marketing...
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...The Use of Social Networking Technologies in Business Environments: Through The Usage of Blogs in Marketing The business world has been transformed by the usage of new technologies in more ways than one. With the usage of the social media sites such as twitter, blogs, LinkedIn, Facebook, MySpace, and YouTube just to name a few it has taken the marketing schematic of business to all new heightened levels. Anyone from anywhere that have an Internet or Wi-Fi connection get in on the latest social media that is being put out there in real time. This has taken the business world into entirely different forms and levels to being about to market ones good and or service. A company is now able to market their brand to a massive amount of individuals that are always connected to the Web. A company “must use the internet to effectively communicate their own message” to their customers and potential customers (Denove and Power IV, 2006, p.217). Now with the several different forms of social media that is out there they can target each specific demographic by what they are blogging, posting, and tweeting about at any given time. Blogging allows a company to stay connected with there audiences, to communicate and allow the users to stay creative with the company, allowing the organizations to know their personal opinions of the goods and services. Blogging allows for information to be filtered on interests alone. Hence being a continuing ongoing open line of communication...
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...An assignment On Marketing Plan Submitted by: Submitted to: Date of submission: Table of Contents Executive summary: 5 Introduction: 7 Methodology: 7 Part A- Essay: 7 A.01 Changed perception in marketing plan: 7 A.02 Barriers to marketing plan: 7 Marketing function isolation: 8 Organizational barriers: 8 Demographic factors: 8 Economic factors: 8 Technological factors: 8 Culture: 8 A.03 Techniques for overcoming barriers to marketing plan: 8 Be strategic: 8 Be realistic: 8 Stay focused: 9 Monitor the budgets: 9 Market research: 9 A.04 Importance of marketing plan in the strategic plan: 9 Product: 9 Price: 9 Promotion: 9 Place: 9 A.05 Ethical issues in marketing plan: 10 A.06 Organization responses to ethical issues: 10 Individualistic approach: 10 Communal approach: 10 A.07 Example of consumer’s ethics and the effect on the marketing plan: 11 Part B: Preparing marketing plan 11 B.01 Organizational capability evaluation: 11 Business experience: 11 Business reputation: 11 Company culture: 11 Business environment: 11 B.02 Techniques used in organizational auditing and analyzing external factors: 11 B.03Carried out organizational audit and external factors analysis that affect marketing plan: 12 SWOT analysis of the Toyota Company: 12 PEST analysis for Toyota Company: 13 B.04Marketing plan: 14 Marketing objective: 14 Objectives: 14 Strategy statement market share: 14 Brand awareness:...
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