...of media in an advertising campaign including costs, running dates, markets, reach, frequency, rationales, and strategies. The components of a Media Plan. The steps involved in media planning can be represented as a diagram as follows Steps in Development of Media Plan 1. Market Analysis Every media plan begins with the market analysis or environmental analysis. Complete review of internal and external factors is required to be done. At this stage media planner try to identify answers of the following questions: * Who is the target audience? * What internal and external factors may influence the media plan? * Where and when to focus the advertising efforts? The target audience can be classified in terms of age, sex, income, occupation, and other variables. The classification of target audience helps media planner to understand the media consumption habit, and accordingly choose the most appropriate media or media mix. 2. Establishing Media Objective Media objectives describes what you want the media plan to accomplish. There are five key media objectives that an advertiser or media planner has to consider - reach, frequency, continuity, cost, and weight. 1. Reach - Reach refers to the number of people that will be exposed to a media vehicle at least once during a given period of time. 2. Frequency - Frequency refers to the average number of times an individual within target audience is exposed...
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...today's market now has the benefit of the web as an efficient marketing tool. Quicker than ever, the web can help a company determine if its new products or services will be a success versus a flop. For many products and services the web can directly facilitate the traditional "Four P's" in a marketing strategy: Product, Price, Place and Promotion. Every marketer needs to consider how the web will play a part in guiding the growth of the company through marketing its products or services. The job of media planning is to determine the best combination of media to achieve the marketing campaign objectives. In the process of planning, the media planner needs to answer questions such as: * How many of the audience can be reached through the various media? * On which media (and ad vehicles) should the ads be placed? * How frequent should the ads be placed? * How much money should be spent in each medium? Media planning's major steps include: * 1 - Targeting, * 2 - Environmental scan, * 3 - Understanding the audience, * 4 - Determination of content, * 5 - Control.[1] The word Media came from the Latin word "Middle". Media carry message to or from a targeted audience and can add meaning to the message. Media Planning, in advertising, is a series of decisions involving the delivery of message to the targeted audience. Media Plan, is the plan that details the usage of media in an advertising campaign including costs, running dates, markets, reach...
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...Slicing and dicing – pivoting. Looking at the data from different viewpoints. E.g. X, Y, Z axis as salesman, Nth quarter and products, or region, Nth quarter and products. A Brief Overview Data Mining: Construct an advanced architecture for storing information in a multi-dimension data warehouse is just the first step to evolve from traditional DBMS. To realize the value of a data warehouse, it is necessary to extract the knowledge hidden within the warehouse. Unlike OLAP, which reveal patterns that are known in advance, Data Mining uses the machine learning techniques to find hidden relationships within data. So Data Mining is to ▪ Analyse data, ▪ Use software techniques ▪ Finding hidden and unexpected patterns and relationships in sets of data. Examples of Data Mining Applications: ▪ Identifying potential credit card customer groups ▪ Identifying buying patterns of customers. ▪ Predicting trends of market movement. Basic Structure of Data Mining tools Data Mining Techniques There are four main operations associated with data mining techniques: Predictive Modeling Database Segmentation Link Analysis Deviation Predictive Modeling Similar to human learning experience: • Form a...
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...New York, USA Abstract Purpose – The choice of which country or countries to enter is a critical decision and needs to be made with considerable care and deliberation. Initial market entry decisions have typically focused on country evaluations based on macro-economic data. While appropriate in providing an initial screening of countries, other factors, notably contextual factors, can provide important insights in assessing international market opportunities. The purpose of this paper is to examine the impact of context at four distinct levels. Design/methodology/approach – The literature on the influence of context on consumption and purchase behavior is reviewed to provide a framework to understand contextual factors as a means to refine entry strategy and develop effective segmentation strategies. Findings – A wide range of contextual factors exert influence on consumption choices and contribute to within-country heterogeneity. These are typically examined at the macro-level, but also need to be examined at the meso-level, micro-level and situational level to fully assess market opportunities and establish viable market segments. Practical implications – Examination of contextual factors provides a richer and deeper understanding of which international markets to enter and which segments to target. Within-country cultural diversity, dramatic economic and regional disparities and marked differences in the infrastructure need to be assessed. In particular, examination of contextual...
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...298Gap stores in the U.S, and 634 stores outside the U.S.Online store opened at 1998 • 4. Industry OverviewApparel retailing storeSpecialty storeMass merchant / Promotional department storesTraditional department storesNational chains • 5. Competitive ForcesJ. CrewAbercrombie & FitchAeropostaleAmerican Eagle OutfittersJ.C. Penny • 6. Current IssuesNegative Sales GrowthAn overlapping of clientele with Old Navy Strong competitive forcesNo loyal customer baseMarketing Communication StrategyStrategy to reach boarder target customersPromotion strategy (Product line versus Brand)Celebrity endorsementBudget allocationNew Positioning • 7. Perceptual Map • 8. Objective for 2003Stop negative growth in salesReposition Gap brandStrengthen brand loyalty among older generations (Baby Boomers, Generation X)Build brand preference among younger generation (Generation Y) • 9. Objective for 2003 (cont’d)Sales increased by 2.7%Maintain 2.8% market share • 10. SWOT Analysis • 11. Strengths Strong Brand LoyaltyBaby BoomersEstablished its identity among Baby Boomers in 1960’sThey rebelled against the existing fashion standardGeneration XersOne-stop store fos school and casual clothesThey grew up with GapAmerican icon2,298 stores in U.S. & 2,932 in the world in 2001 • 12. WeaknessesWeak performance of Gap brand Total domestic sales in 2001 went down by 5% Sales went down in comparable stores by 12%Problems with young generations Low attractiveness among Generation...
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...[pic] International Market Selection – Issues and Methodologies A Global Marketing Paper Conducted by Kai F. Mahnert, 03113060 Sarah McGauley, 00359157 Laura McGrath, 00453340 Liz McGrath, 03113094 Conducted for Dr Aidan Daly, Lecturer in Global Marketing, NUI Galway Date 22nd March 2004 TABLE OF CONTENTS Abstract 3 Introduction 3 Objectives 5 Limitations 5 Rationale for International Trade 6 Objectives of an organisation 6 The creation of stakeholder value 6 Internal factors in Foreign market selection 7 Personnel 7 Management 8 Customers 8 Capital requirements 8 Social assessment 9 Corporate social responsibility 9 Time and research 11 Methodologies 11 Preliminary screening 12 In-depth screening 12 Final selection 13 external factors in foreign market selection 14 Market potential 14 Market size 14 Market growth 15 Competitive intensity 15 Competitive entry 15 Entry barriers 16 Political environment 16 Political issues for consideration in market selection 17 Risk assessment 17 Legal environment 19 Legal systems 19 Economic environment 20 Economic development 20 Culture 22 Infrastructure 23 Conclusion 23 References 26 International Market Selection Issues and Methodologies Kai F. Mahnert, Sarah McGauley, Laura McGrath & Liz McGrath MBS in Marketing, NUI Galway Abstract International market selection is one of the most...
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...before a corporate logistics plan can be created. 1. Evaluation of the consumer and potential target markets Consumer evaluation is prompted by namely: change in customer buying patterns, new products being introduced to the market, inadequate market performance, and profitability. Furthermore in evaluating consumers management must first determine if it will be able to meet the needs of large consumer segments (Stock and Lambert, 2001). Imperial Logistics has created a large customer base in almost every industry from: retail, construction, mining and minerals, technology, chemical, automotive, FMCG, to petro-chemical and agriculture and forestry. Imperial logistics has diversified customer list with reputable brands such as Woolworths, Tiger Brands, Heinz, BAT, Brandhouse, Distell, Nampak, Mondi Packaging, Tetra Pak, CONSOL, PG Group, Mittal, Shell, Sasol, Lafarge, Toyota, BMW, Porsche, ABSA and Standard Bank (Imperial Logistics, 2010). 2. Evaluation and Selection of Target Markets: The goal should be to select target markets that promise to generate the highest returns per segment. The selection of which must take into account the strengths and weaknesses of the company (Stock and Lambert, 2010). Imperial Logistics, values customers’ businesses as much as they do. As a strategic out-sources logistics and supply chain partner, they multi-disciplinary specialists develop market and future oriented solutions in response to...
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...What is data mining: * Data mining (knowledge discovery from data) * Extraction of interesting (non-trivial, implicit, previously unknown and potentially useful) patterns or knowledge from huge amount of data * data processing using sophisticated data search capabilities and statistical algorithms to discover patterns and correlations in large preexisting databases; a way to discover new meaning in data. 2. KDD process * General functionality * Descriptive data mining * Predictive data mining * Different views lead to different classifications * Data view: Kinds of data to be mined * Knowledge view: Kinds of knowledge to be discovered * Method view: Kinds of techniques utilized * Application view: Kinds of applications adapted Data mining issues * Mining methodology * Mining different kinds of knowledge from diverse data types, e.g., bio, stream, Web * Performance: efficiency, effectiveness, and scalability * Pattern evaluation: the interestingness problem * Incorporation of background knowledge * Handling noise and incomplete data * Parallel, distributed and incremental mining methods * Integration of the discovered knowledge with existing one: knowledge fusion * User interaction * Data mining query languages and ad-hoc mining * Expression and visualization of data mining results * Interactive mining of knowledge at multiple...
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...Ch11-H8566.qxd 8/8/07 2:04 PM Page 222 CHAPTER 11 Market segmentation YORAM (JERRY) WIND and DAVID R. BELL All markets are heterogeneous. This is evident from observation and from the proliferation of popular books describing the heterogeneity of local and global markets. Consider, for example, The Nine Nations of North America (Garreau, 1982), Latitudes and Attitudes: An Atlas of American Tastes, Trends, Politics and Passions (Weiss, 1994) and Mastering Global Markets: Strategies for Today’s Trade Globalist (Czinkota et al., 2003). When reflecting on the nature of markets, consumer behaviour and competitive activities, it is obvious that no product or service appeals to all consumers and even those who purchase the same product may do so for diverse reasons. The Coca Cola Company, for example, varies levels of sweetness, effervescence and package size according to local tastes and conditions. Effective marketing and business strategy therefore requires a segmentation of the market into homogeneous segments, an understanding of the needs and wants of these segments, the design of products and services that meet those needs and development of marketing strategies, to effectively reach the target segments. Thus focusing on segments is at the core of organizations’ efforts to become customer driven; it is also the key to effective resource allocation and deployment. The level of segment aggregation is an increasingly important issue. In today’s global economy,...
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...International Strategy Advanced Strategy M2/MSc 2015-2016 Corporate (or Growth) strategy: Key questions? • Should the firm focus its activities on a specific market or diversify in several segments or sectors? • Should the firm limit its business to the local market or internationalize? • Which method of growth strategy should the firm choose? • organic development or • corporate, commercial, technical alliances with other stakeholders active in the business environment (clients, suppliers, competitors, R&D centres, academic units, …)? Key questions of Corporate strategy Why and how should the firm internationalize? International strategy analytical framework Location Advantage WHY? Outside-In approach HOW? Source: Exploring Strategy, 9th edition, Pearson, 2011 Inside-out approach Incentives and basic benefits of internationalisation Incentives Basic Benefits Extend a product’s life cycle Increased market size Gain easier access to raw materials Economies of scale and learning Opportunities to integrate operations on a global scale Location advantages To support strategic orientations! Opportunities to maximize the ROI (e.g. rapidely developing technologies) Get access to consumers in emerging markets Source: Ireland, Hoskisson and Hitt, The Management of Strategy, 2011 Outside-in approach: Internationalisation drivers Why going international? The YIP’s matrix (Inter-country compensation...
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... The large variety of toys at lower prices, the fun-filled atmosphere and service is all that It’s toy time provides its customers.We are the only company who thinks about a childs mental development but not only entertainment. 2. Company Information: * Name: IT’S TOY TIME Inc. * Location: Shop no. 1, Banani 11 no. (Beside Mother Care) Dhaka, 1213 Bangladesh. (We chose it because we were looking for such an area which will help us increase our sales and eventually grow our profit consistently as this location can attract our target market as it’s beside MOTHER CARE) * Shop Size: 750 sq. feet * Rent Expense: 262,500 k ( including water expense) * Advance deposit: 30,00,000 k (for 3 years contract) * Electricity Expense: (2000-3000)k (depending on the usage) * Telephone Expensek with International roaming (depending on the usage) * Color Pattern of Showroom: Yellow, Baby pink and Sky Blue * Type: Privately held Company * Industry: Retail * Website: www.Its’toytime.co.bd * Logo: It’s toy time * Goal: * Short term: To provide innovative, educational toys and improve the learning curve of children of Bangladesh through the use of interactive toys. * Long term: Create a profitable company as well as improving creative power of Bangladeshi children. * Mission statement: It’s Toy time's mission is to import the highest quality educational...
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...identify the areas where additional market research is needed and analyze the importance of competitive intelligence. Lastly, it will provide an analysis in regards to the development of Kudler Fine Food’s marketing strategy and tactics. The Kudler Fine Foods stores began with a vision by owner Kathy Kudler. She envisioned the convenience of gourmet shopping in one location instead of purchasing many ingredients from a variety of stores throughout the area. Kudler Fine Foods has a bakery products, fresh produce, fresh meat, seafood, cheese products, and wine. Kathy Kudler decided to open her first store in 1998. This store is located in La Jolla, California. After two years, Kathy Kudler opened a second store in Del Mar, CA. Finally, in 2003, Kathy Kudler opened her third Kudler’s Fine Foods in Encinitas, California. Kathy Kudler’s goal is to “provide customers with the finest selection of the very best foods and wines so that customers’ culinary visions can come true” (Kudler, 2011). To achieve this goal, Kudler Fine Foods must provide to their customers the finest selection of goods and products for her customers to purchase. An effective business marketing plan can guide an organization in their business venture. An essential component of a marketing plan is marketing research. Whether Kudler Fine Foods is a single local neighborhood store, or a national chain, market research is critical to the success of the organization. Conducting market research is when an organization...
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...Segmentation and Target Market Bradley A. Parks MKT/571 April 19, 2014 Tara Hall Segmentation and Target Market The author will show how Cedar Fair Entertainment Company can use market segmentation within the industry to sell their product. Using market segmentation can help identify a target market for the company and show the selection process the company can use to identify their market. Market segmentation accomplishes this by splitting the market up by these key components: demographic, psychographic, and geographic. The author will also prepare a position statement for the company using careful consideration of their brand and strategy. Demographic segmentation is one of the most important areas to the marketing department because the information is readily accessible and can drastically dictate the spending patterns of the consumer. Some of the key components of demographic segmentation are age, gender, ethnic background, and the life cycle of a family. Cedar Fair Entertainment Company runs eleven theme parks throughout the United States and targets the age range of 2-60 years. The company can target this vast age group because they provide a safe and fun environment for families and people of all ages to enjoy due to the array of rides and games. The target income level for this company would be middle to upper class with a house hold income of approximately $50,000 or more as their ticket prices are $50.00. The theme park appeals to all genders and ethnicities...
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...simulation in order to identify and prioritize the target market selection criteria (Case study: Food distribution companies of Mashhad-Iran) Amir kariznoee Ph.D. student of Industrial Management,University of Mazandaran ,Iran (Corresponding Author's E-mail: Amir.kariznoee@yahoo.com) Monireh Bijandi Graduate of Accounting in Ferdowsi University of Mashhad,Iran Mahdi Ghayur Maddah Student of Public Management in Ferdowsi University of Mashhad,Iran Vajihe Mogharabi M.A. Student of Information Technology Management, Shahid beheshti University,Tehran,Iran Abstract The aim of this study is to identify and prioritize the key factors in selecting a target market in the food industry. In order to determine the components and subcomponents of this study, we have used previous researches in this area. In order to match these factors with the food industry situation and create a hierarchical structure, we have obtained the opinions of 323 experts about affecting factors on choosing a market in this industry with the use of questionnaire. Then, using a combination of hierarchal analysis process and Monte Carlo simulation and cooperation with 10 senior executives of distribution companies, the weight of each component and sub-component was determined. In general, four components and ten sub-components were examined in this study. After determining the weight of these components, the importance of each component in choosing a market has been prioritized. The results show that cost...
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...CHAPTER ONE INTRODUCTION BACKGROUND The restaurant industry consists of restaurants, bars, and other away-from-home eating facilities. The National Restaurant Association (NRA), an industry trade group based in Washington, D.C., estimated that industry sales in 2001 totaled $399 billion and predicted that industry sales will hit $576.9 billion by 2010. According to the National Restaurant Association (1999), an estimated 844,000 establishments offered prepared food in the United States in 2001 and the number of restaurants in the U.S. is forecasted to increase to 1,001,305 by the year 2010 (Figure 1.1). 1200 1000 1000 831 800 577 600 400 376 200 0 Sales (billions) Locations (thousands) 2000 2010 Source: National Restaurant Association (1999) Figure 1.1 Restaurant Industry Sales and Locations 1 There are a variety of possible locations for restaurants including a freestanding unit, located in shopping mall outlet, food court, or a multiple concept unit within an existing facility designed for another business such as a gas station and convenience store. It may be leased space, a building the retailer purchases, or a new structure built to specification. Each has its own advantages and disadvantages for specific types of restaurants (James, Walker, and Etzel, 1975; McGuire, 1993; Powers, 1997; Hsu and Powers, 2002). The cost of land, lease expenses, and building varies with the location of the restaurant. Metropolitan...
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