...MARKETING CASE STUDY: HOW DO WE APPLY MARKETING PRINCIPLES AT THE ANGLO AMERICAN INFORMATION CENTRE? Introduction The Information Centre was established in 1946 and has achieved significant goals along the way. This has established the Information Centre firmly within the organisation and has raised its profile (within the organisation) over the years. The Information Centre has a reputation for service excellence. This is important for future marketing as we would like to retain our current customer base and this can only be achieved through continuing service excellence. Mission statement The purpose of the Information Centre is to provide an information service to assist decisionmaking processes, and to promote the active use of information for furthering the aims of the Corporation. The mission statement of the Information Centre is: * * to provide a dynamic, timely and cost-effective information service to our clients; to focus on the goals and objectives of Anglo American and support business decision making in a global environment; to strive for continuing improvement of service excellence in a friendly and professional manner. * Vision The I.C. will play a pivotal role in facilitating the providing and use of information and knowledge to support (our client’s) business decisions. The I.C.'s aim is to become the preferred supplier of information to the Anglo American Corporation. In order to achieve our mission and focus on our vision we need to continuously...
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...Running head: THE FOUR P’S OF MARKETING THE FOUR P’S OF MARKETING Kilya Simmons Business 105 Unit 3 08-10-2013 Mrs. Carol Boniface - Hannon Abstract This essay will explain about the four P’s of marketing. The four P’s will give different demeanors in marketing when the business has to take in considerateness and sustain when products are put out. It will also indicate how clothing and the connection to the four P’s in marketing have some similarities. There are four P’s of marketing that gives insights on how to market your business and products. They are structured to support each other. They are price, product, promotion, and place. Price is one of the strategies in marketing. It can be challenge because you can easily change the price instead of the product. Some prices are set at a high price to skim the customers and influence them like the products are good quality. The reasons why they are discounted below market value so they can out beat their competitors. Some prices are set high to skim the customers and influence them like the products are good quality. Some customers have different views on pricing. They think the even numbers on prices mean it’s expensive. Pricing products to high can send customers to other competitors (Editorial Board, 2013). Products should meet the needs of a customer in marketing. It refers to the goods and services you offer to your customers...
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...List and discuss the 4 P’s (marketing mix) The ‘Four P’s’ of the marketing mix are, product, price, promotion and place. All of these parameters are controlled by the marketing managers of each company and are focused upon the target market of a particular company. Product- would be the physical, tangible products and services that are offered by the company. The product in which the company is focusing on promoting and marketing is the main good, which will be focused upon for all of the remaining P’s in the marketing mix. The Product is the main focus in creating a solution to the consumers need. Price- consists of the pricing strategies that are selected for each product. Pricing can consist of many parameters such as suggested retail pricing, seasonal pricing, and bundling and price flexibility, among other pricing strategies. Pricing is very important in the focus on the value and insight that the company choses to offer the target market in getting the most for their money. Promotion-This P in the marketing mix would refer to the Marketing promotion of the product or products. Promotion consists of; marketing communications, advertising, sales promotion and public relations (PR) that are related to the product or products. Promotion would focus on how the company and it marketing manager educates the target market about the product and how they decide to engage with the customer within that particular target market. Place – Place in the Marketing mix refers to the mobility...
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...PURDUE EXTENSION EC-730 Marketing’s Four P’s: First Steps for New Entrepreneurs Cole Ehmke, Joan Fulton, and Jayson Lusk Department of Agricultural Economics Marketing your business is about how you position it to satisfy your market’s needs. There are four critical elements in marketing your products and business. They are the four P’s of marketing. 1. Product. The right product to satisfy the needs of your target customer. Audience: Business managers Content: Presents the four elements of marketing your products and business Outcome: Readers will be aware of the range of marketing decisions they need to make 2. Price. The right product offered at the right price. 3. Place. The right product at the right price available in the right place to be bought by customers. 4. Promotion. Informing potential customers of the availability of the product, its price and its place. Each of the four P’s is a variable you control in creating the marketing mix that will attract customers to your business. Your marketing mix should be something you pay careful attention to because the success of your business depends on it. As a business manager, you determine how to use these variables to achieve your profit potential. This publication introduces the four P’s of marketing and includes worksheets that will help you determine the most effective marketing mix for your business. Product “Product” refers to the goods and services you offer to your customers...
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...Marketing paper 04/10/2015 | 4 P’s of Marketing | The Honest Company | | DeAnna Horton | 4/10/2015 | BUSN101INSTRUCTOR: NORMA ANDERSON | While watching television to find a commercial for this assignment, one jumped out at me, caught my attention, and held it, even remaining in my head for some time after watching the advertisement. The product was for baby diapers made by The Honest Company. These diapers are eco-friendly by being plant based; free of lotions, free of fragrance by using citrus and chlorophyll, and latex. They do not use chlorine processing or harsh chemical bleaches in the creation of these diapers. The absorbent core comes from certified sustainable forests and a polymer blend of wheat and corn. The ink from printing the updated motifs is free of lead and heavy metals. All this information was conveyed while being entertaining and having the ability to stick in one’s head well after watching. This is a “shopping” good, one of necessity if you have children and opt not to use cloth diapers. People are becoming more concerned about our impact on the earth. Many buyers are looking at going green, not just for themselves, but in the companies that produce the goods. Parents are also more inclined to purchase the best available, that is affordable, for their children. The packaging is also made of recycled materials. It shows a photo of a child, clearly identifies the contents, protects them from dirt and damage, and also provides a list of the...
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...Four P’s or Marketing Matrix Paper Marketing March 26th, 2012 Four P’s or Marketing Matrix Paper With all of the media buzz surrounding products and services in TV ads, internet ads, phone applications, commercials, bulletins boards, and maybe the oldest marketing strategy around paper flyers left on the front window of cars, consumers everywhere are overloaded with information for just about everything known to mankind. To catch the consumers’ eye companies have to be more creative than ever, not only thinking outside of the box but doing circus acts around the box so to speak! Companies have to be innovative and creative to captivate the consumer’s interest. Companies have to use different marketing techniques from their competitors; they have to establish stronger marketing platforms than ever before. When trying to get the word out about a new or established business, product, or service companies need to go beyond the old ways of selectively choosing a customer base to really get a consumer thinking, they need to relate to the customer on a more intimate level and with a two way communication method instead of the one way communication method that has been the way of the past. New technology has changed the way people relate to each other, these tools include everything from Twitter, Facebook, YouTube, Instant Messaging, blogging, and other social networks where people can share products they like or dislike and promote certain products and services freely. In this...
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...Marketing Mixing AND THE FOUR P’S Abstract The marketing system is the controllable tactical marketing tools such as products, prices, places where the items are sole and promotions that the company offers to blend, and able to produce the response it want in the initial target within the market (Kotler and Armstrong,2010). The main focus for companies such as DHL for example help other companies by providing service to hospitals, small business to help make their organization fun smoothly by having a supply chain that is key with in the health care sector. left strePudding interesting and exciting you can use in almost anything. In the marking arena the Marketing Mix is an important factor in marketing using the marking mix consist of four factors known, as the four P’s which are as followed. I will demonstrate how important the four P’s are in business marketing. Marketing Mix and the Four P’s The first p is product. A product is something tangible that someone can feel. Something made or created, by person machine or natural process, especially something that is offer for sale. Products are made and created by a person, machine, or natural process, such as Pudding, which Peter Cooper invented in 1845. The second P is price. Price is a form of fee that a persons pay for the product. Price is really to reduce costs through improving manufacturing and efficiency, and most importantly, the marketer needs to increase the perceived value of the product for the benefits...
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...Philosophers sometimes view the idea of human freedom of action as the real problem of free will, but this classification is one of the main misunderstandings in both subject matters. The misunderstanding between freedom and free will may have begun as early as the time when Thomas Hobbes and David Hume, argued their cases to support the theory of the modern concept of compatibilism. From both Hobbes’ and Hume’s perspective, to be free to act on one's will is basically to be free of external restrictions, limitations, constraints, and controls. From their perspective, the absence any external constraint gives makes the agent freedom to do as he or she wills, even if the person’s will itself is determined (or predetermined) by causal laws of nature. Factors That Affect Personal Development Take a moment to consider all of the genetic and environmental factors that have shaped who you are today, and you will quickly become overwhelmed. From gender, race, and socioeconomic background—to family dynamics, education, and genetics—there are millions of factors that have converged to make you who you are. Most people believe that humans are responsible for their own actions and that they all have the opportunity to make the right choices. But when you consider how large a role race, gender, wealth, and family upbringing all play in shaping an individual, can you truly believe that everyone has the same opportunities? Furthermore, are there some conditions under which people cannot...
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...2 Four P’s Marketing Mix on Starbucks The marketing mix plays an important part in marketing. The purposes of the marketing mix are to use a combination of tools to satisfied the customers and obtain company goals. The marketing mix is referred as the four P’s: product, price, place, and promotion. “The elements are adjusted until a right combination is found that serves the needs of the product’s customers while generating optimum income”. (Marketing Mix, 2010, p. 1). By using the four P’s, most businesses have the ability to connect with consumers within the targeted market. The ability to create a successful marketing mix often has good results. However using the wrong mix can lead to failed marketing strategies which can result in the business dissolving. The key is not to get stuck on one mix; the combination of elements often has better results than just using one. This research paper will review all elements of the marketing mix and how each ones plays an important role that organizations must acknowledge in order to be successful. The first P in the mix is the product. The product is used to determine market needs, wants, and desires, to assess internal resources regarding satisfying market needs, wants, and desires with innovation, to develop process for market resource and product testing, and to forecast product life cycle. With this being said, the product would refer to a physical product or service in a company. The product would be used to satisfy a targeted...
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...Case 29 Starbucks’ Global Quest in 2006: Is the Best Yet to Come? Arthur A. Thompson The University of Alabama Amit J. Shah Frostburg State University Thomas F. Hawk Frostburg State University n early 2006, Howard Schultz, Starbucks’ founder, chairman of the board, and global strategist, could look with satisfaction on the company’s phenomenal growth and market success. Since 1987, Starbucks had transformed itself from a modest nine-store operation in the Pacific Northwest into a powerhouse multinational enterprise with 10,241 store locations, including some 2,900 stores in 30 foreign countries (see Exhibit 1). During Starbucks’ early years when coffee was a 50-cent morning habit at local diners and fast-food establishments, skeptics had ridiculed the notion of $3 coffee as a yuppie fad. But the popularity of Starbucks’ Italianstyle coffees, espresso beverages, teas, pastries, and confections had made Starbucks one of the great retailing stories of recent history and the world’s biggest specialty coffee chain. In 2003, Starbucks made the Fortune 500, prompting Schultz to remark, “It would be arrogant to sit here and say that 10 years ago we thought we would be on the Fortune 500. But we dreamed from day one and we dreamed big.”1 Having positioned Starbucks as the dominant retailer, roaster, and brand of specialty coffees and coffee drinks in North America and spawned the creation of the specialty coffee industry, management’s long-term objective was now to establish...
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...Marketing of Banking Services (Case of Prime Bank Ltd. ) CHAPTER 1 Introduction 1.1: BACKGROUND OF THE REPORT Internship program is a pre-requisite for acquiring BBA degree in UIU. Before completion of the program, every student must undergo the internship program or a research work. It is mandatory because classroom discussion alone cannot make a student outstanding in handling the real business scenario. This is an opportunity for a student to learn about the real life situation and how to act accordingly. Another purpose is to know about the rules, regulation and environment of an organization before getting a job or starting a business. Such experience may facilitate a student to have a better job or get success quickly in a business. A report is to be prepared to summarize the findings through observation, and practical work after the internship period. The report titled “Marketing of Banking Services: Case of Prime Bank Limited” is based on the learning from the internship period in Prime Bank Ltd, Shimrail Branch. It contains a concrete idea about the marketing pattern of the bank mainly with the help of observational study from the perspective of 7P’s of services. I will also discuss the other banking activities of the branch. 1.2: ORIGIN OF THE REPORT This report titled “Marketing of Banking Services” is prepared fully on academic basis. It is a mandatory requirement as a part of internship for BBA program completion under the school of business of UIU. This topic...
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...Chapter one: Company History SQUARE today symbolizes a name – a state of mind. But its journey to the growth and prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. SQUARE today is more than just an organization, it is an institute. In a career spanning across five decades it has pioneered the development of the local business in fields as diverse as Pharmaceuticals, Toiletries, Garments, Textile, Information Technology, Health Products, Food Products, Hospital, etc. With annual turnover above US $ 450 million and with a workforce more than 22,000, square today is a true icon in Bangladesh business sector. The journey begins Square started out as a small scale pharmaceutical venture in 1958.It was a partnership effort of four young and enterprising men whose determination and passion saw it through the turmoil of the incipient period. By its fourth year, Square turned into a profit making organization. Milestones: SQUARE 1958: Debut of Square Pharmaceuticals as a partnership farm 1964: Converted into a Private Limited Company 1974: Technical Collaboration with Janssen Pharmaceutica, Belgium, a subsidiary of Johnson and Johnson Intl, USA. 1982: Licensing agreement signed with F.Hoffman-La Roche Ltd., Switzerland. 1985: Achieved leadership in pharmaceutical market of Bangladesh among all multinational and national companies. 1988: Debut of Square Toiletries...
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...MARKETING THEORIES – THE MARKETING MIX – FROM 4 P’S TO 7 P’S Visit our Marketing Theories Page to see more of our marketing buzzword busting blogs. Marketing is a continually evolving discipline and as such can be one that companies find themselves left very much behind the competition if they stand still for too long. One example of this evolution has been the fundamental changes to the basic Marketing mix. Where once there were 4 P’s to explain the mix, nowadays it is more commonly accepted that a more developed 7 P’s adds a much needed additional layer of depth to the Marketing Mix with some theorists going even going further. Before we get carried away though what is the Marketing Mix and what is the original 4 P’s principle? THE MARKETING MIX Simply put the Marketing Mix is a tool used by businesses and Marketers to help determine a product or brands offering. The 4 P’s have been associated with the Marketing Mix since their creation by E. Jerome McCarthy in 1960 (You can see why there may have been some need to update the theory). The Marketing Mix 4 P’s: * Product - The Product should fit the task consumers want it for, it should work and it should be what the consumers are expecting to get. * Place – The product should be available from where your target consumer finds it easiest to shop. This may be High Street, Mail Order or the more current option via e-commerce or an online shop. * Price – The Product should always be seen as representing...
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...Article Summary The article that I read about marketing was The 7 Ps of Customer Retention Marketing. I found this article on a marketing website with tons of articles for people to read and for help on their products and companies. The author is Karl Wirth who is the CEO and a co-founder of Apptegic, a customer intelligence and marketing automation solution that enables online businesses to understand each customer and respond in real time. Karl Wirth’s message was basically explaining of how the 7 P’s of marketing apply to customer retention marketing. Karl Wirth’s stated, By acting on the 7 Ps of Customer Retention Marketing, you can keep your customers; make their interactions with your business successful; and in so doing make your business more successful. The evidence I found to support this theme was that they stated all 7 points of marketing in it. Everyone is use to the 4 P’s and what they do and how we use them, but they used three more that I have not heard of being used. Many CPG companies are now using online and social mediums to build direct relationships with their customers This article is very smart and logical and provides great information. It provides the four P’s: Product, Place, Price, Promotion. Yet it provides 3 more P’s to the reader, People, Processes and Positioning. I have never heard of those three. It states that People are the most important. Retaining customers is about building relationships, and relationships are about people. For Processes...
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...Marketing Mix Frank Robles MKT/421 February, 25 2013 Paressa Naveed There are four categories in the marketing mix. They consist of product, place, price and promotion. Many companies use these four elements of the marketing mix to help bring in revenue on the services that they are using. This paper will focus on those four p’s of marketing and explain in detail how the four p’s are beneficial to any organizations, marketing strategy and tactics. The first category in the four p’s would be the product. What the product is a service or item that a company offers. When a product is marketed, it means that the company created the idea to reach a target audience. The product should attract a certain audience and the company is responsible for creating the marketing strategy in order to hit the target audience. The second category in the four p’s would be place. Place is directly involved where an organization puts together a strategy where they make sure they get the product to its target audience. The whole process is revolved around how the product gets distributed to the consumer. This process is very important on deciding how the product gets to the consumer before they decide to purchase it or buy it. There are many ways on how the product gets to the consumer and how it reaches the target population. Now, as for the third P which stands for promotion. When a company promotes a product, they have different ways of doing so...
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