...Regression Analysis Definition: Regression is used to examine the relationship between one dependent and one independent variable. After performing an analysis, the regression statistics can be used to predict the dependent variable when the independent variable is known. Regression goes beyond correlation by adding prediction capabilities. Types Of Regression Analysis: Most widely used two types of regression analysis are- I [pic] Linear Regression Analysis: When the regression is conducted by two variables or factors then is called linear regression analysis. Multiple regression analysis: Multiple regression analysis is a technique for explanation of occurrence and calculation of future actions. A coefficient of correlation among variables X also Y is a quantitative index of connection involving these two variables. In squared type, while a coefficient of purpose specifies the quantity of difference in the principle variable Y that is accounted for through the deviation in the analyst variable X. [pic][pic][pic][pic]Examples for Linear Regression Analysis: ABC a manufacturing co. where the production cost depends on their raw materials cost. Now, For the given set of x(tk in million) and y ( tk in thousand per unit) values, determine the Linear Regression and also find the slope and intercept and use this in a regression equation. |X |Y | |50 |4.2 ...
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...chosen field of study. Statistics is not a subject that you simply endure for now and then never use again. Many of the concepts covered in this course will be encountered in future courses and quite likely throughout your business career. The purpose of this project is to explore how researchers in your area of interest use the process of regression analysis. In order to do this, you will locate two articles from academic journals that pertain to your area of interest in business and contain the use of regression analysis. Your search criteria will contain one of the following majors from the UTSA College of Business: Accounting, Economics, Finance, Human Resource Management, Information Systems, Management, Management Science, and Marketing. There are several other majors, but you may find it hard to locate articles about them. In that case, it may be better to choose one of the highlighted majors above that is related to your major. Directions for finding articles: From UTSA home page Select Libraries link (bottom of page, under Current Students) Under Find Information, select Databases Select “A” under Find by Title Select ABI/INFORM – Global On first line of search terms: enter your business major from the list above (Use quotes if it is more than one word); select Subject heading (all)-SU For the two boxes on the second line enter: “linear regression” [or] “multiple regression” (be sure to include the quotes); keep the default of Anywhere Limit...
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...Cisco incorporated both aspects by buying companies that rendered services and products that they needed in order to expand to a broader marketing audience which resulted in their company becoming the most valuable company in the world in March 2000. Successful marketing requires capabilities such as understanding, creating, delivering, capturing while also sustaining value. Along with these needed additives, one must understand that business to business and business to consumer relate to each other. However, they must be handled or strategically attacked with separate or specific missions. With building a brand, one must develop a strong marketing strategy in order to generate profit. Business to business marketing is geared more to business buyers and sellers whereas business to consumer focuses on the individual consumers need or want. When it comes to the marketing aspect of the two, the marketing strategy, advertisement, internet marketing, and public relations will all have to be executed in specific ways in order to target the right audience. There are also similar but different aspects that should be considered when developing marketing strategies for business to business and business to consumer as well. Business to business markets tend to be more on a personal level to which companies focus on getting to know their customers in order to establish a working relationship. However, in the consumer market, mass communication and distribution tools are needed...
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...Munoz American Intercontinental University Unit 5 Individual Project MKTG 205 – Principles of Marketing August, 17, 2012 Abstract The following information provided in this paper explains how a specified company utilizes proper and effective marketing methods in order to sell their products on a global scale. Furthermore, in reference to the company, their tactics, methods, and constraints within the business involving the target market, pricing strategy, and company competition are demonstrated in this paper as well. The specified company referenced in this report is Mars Inc. Unit 5 Individual Project Introduction The principles of marketing apply to every business and operation that produces and sells some type of commodity in exchange for profit. The marketing mix contains specific tools, which help companies and their marketing team to build and evaluate a product, structure the price based on the value, effectively promote the product, and place the product with best-suited channels of distributions. For a company that operates on a global scale, such as Mars incorporated, these tools are even more important to assess. Describe Main Line of Business of the Company Mars Inc. is one of the largest privately owned companies in the U.S.A alone (FAQs, 2012). Best known for their chocolates and candies; the company offers a diversity of other products from segmented areas within their company concerning pet care products, symbioscience, drinks, gum, and foods (Market...
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...Assignment On Marketing Strategy of Nestle Bangladesh Limited Course: Principles of Marketing (MKT101) Prepared For Kashfia Ahmed Senior Lecturer Department of Business Administration East West University Prepared By Emranul Islam (2009-2-10-064) Emran Hossain Niloy (2009-2-10-252) [pic] East West University Table of Content |Serial |Topics Name |Page | |No. | |No. | |1. |Executive summary | | |2. |Historical Background Of Nestle |01 | |3. |Company Profile |02 | |4. |Theoretical Consideration |03 | |5. |Marketing Strategies |03 | ...
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...NAME FLORENCE MUNDIRWA REG NUMBER C15125521C LEVEL 1:1 PROGRAM BSIM LECTURER DR MUNYORO MODULE PRINCIPLES OF MARKETING ASSIGNMENT NUMBER 1 DUE DATE 23/O4/2015 COURSE CODE CUIM 137 INTRODUCTION According to Bruce R Jewel, 2000, he defines marketing as disaggregating the market into discreet groups or segments of customers. There are many different reasons for a business to segment their market. In its simplest form, the needs of individual customers differ, so it makes sense that a business creates separate offers for each segment of the market. This gives customers a better solution (whether it’s a product or a service), and helps raise profitability in the entire business. Market segmentation is also a very effective means of discovering how to reach your customers. If you break down the large market into smaller groups, specific sets...
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...ASSIGNMENT COVER SHEET (to be completed by the student) AIB student ID number: Student name: Course name: Subject name: Subject facilitator: Teaching Centre: No. of pages: Word count: BBA-LOGISTICS AND SUPPLY CHAIN MGT MARKETING PRINCIPLES AND PRACTICE MS.BEVERLY FOSTER SITAL COLLEGE OF TERTIARY EDUCATION LTD 16 2150 DECLARATION I, the above named student, confirm that by submitting, or causing the attached assignment to be submitted, to AIB, I have not plagiarised any other person’s work in this assignment and except where appropriately acknowledged, this assignment is my own work, has been expressed in my own words, and has not previously been submitted for assessment. 1 ASSESSMENT SHEET (to be completed by the examiner) Student name: Course name: Subject name: Assessor/marker: COMMENTS Principles learnt (for example, number and understanding of principles referred to, their influence on the structure of this paper, number and correct citations of references, use of appropriate jargon) /4 Application of principles. That is, the analysis and evaluation of the example problem based on the principles, including the final recommendations and their justification /8 How well the example problem was described, including the extent and depth of information (including the data) about it that was accessed /4 Structure and presentation /2 Style, grammar and language /2 Total Less penalties GRAND TOTAL General comments /20 FOR MODERATOR’S...
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...Segmentation, Targeting and positioning model of Mcdonalds Segmentation, Targeting and positioning Model of McDonalds: In order to develop a marketing strategy, it is very important for company to understand its target customers. If the company can understand its customer then only it can communicate itself to their consumer Market. Better you know about your consumers, more effectively you could communicate and market them. McDonalds has segmented their products according to bases of Demographic, Psychographic and Behavioral. They have segmented their products and positioned their products according to kids, students and family. But they haven’t segmented their products according to the Adult target group. Also they haven’t started segment related to breakfast in every outlet. Segmentation: Market segmentation is defined as dividing a single market into smaller segments. The basic reason for dividing the market into small segments is to make it simple to address the needs of smaller groups of customers and try to manufacture different products according to their consuming habits. Particularly it is done according to the people who have similar characteristics. It can be done on the basis of age, gender, lifestyle, region, etc. McDonalds in India segmentation it has done is on three different bases: 1) Demographic Segmentation: Kids, Family and Students McDonalds offers different products like Happy Meal which includes a free toy for kids. For families it has made different...
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...Learning objectives 1. Define the major steps in designing a customer-driven marketing strategy: market segmentation, targeting, differentiation, and positioning. 2. List and discuss the major bases for segmenting consumer and business markets 3. Explain how companies identify and attractive market segments and choose a market-targeting strategy 4. Discuss how companies differentiate and position their products for maximum competitive advantage Segmentation means diving a market into distinct groups with distinct needs, characteristics, or behaviours that might require separate marketing strategies or mixes. The company identifies different ways to segment the market and develops profiles of the resulting market segments. Buyers in any market differ in their wants, resources, locations, buying attitudes, and buying practices. Through market segmentation, companies divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs. We discuss four important segmentation topics, which is: 1. Segmenting consumer markets 2. Segmenting business markets 3. Segmenting international markets 4. Requirements for effective segmentation 4 major segmentation variables for consumer markets is 1. Geographic segmentation 2. Demographic segmentation 3. Psychographic segmentation 4. Behavioural segmentation Geographic Segmentation calls for dividing a market into different...
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...------------------------------------------------- MARKETING – TD1 Marketing is the process by which companies create values for customers and build strong customer relationship in order to capture value from customer in return. Kotler, Principles of marketing. I- History of Marketing * Consumer is much more informed than before: * He is more educated, * He can compare at any time (private labels), * He does not trust brands anymore. * He has a wide experience of traditional marketing techniques and develops his critical sense * He is subjected to contradictions of hyper selection * He refuses blind consumption, centred on ownership * Consumer is less and less sensitive to mass marketing: towards a new consumption model? The changing marketing landscape: digital age, rapid globalisation, ethics and social responsibility, not-for-profit marketing. Management orientations: these are alternative concept. Today there are different concepts. The don’t replace each other but new concepts appear. 1) Production concept: consumers prefer products that are widely available and affordable. 2) Product concept: Not only the availability of the product but also its quality, performance, innovation…Consumer will favour products that offer the most in quality, performance etc. 3) Selling concept: if you leave alone your consumer, he will not buy enough of your product. You must therefore invest in salesperson. It is used...
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...|ASSESSMENT DETAILS | |Unit Code |BSBMKG502B | |Unit Title |Establish and adjust the marketing mix | |Assessment No. |1 | |Assessment Title |Report – Evaluate and determine the marketing mix | |STUDENT DETAILS | |Student’s Name | | |Student ID No. | | |Group No. | | |Date of Submission | | |ASSESSOR DETAILS | |Assessor’s Name | ...
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...into a number of sub-markets/segments and the process is known as market segmentation. segmentation Thus we can say that market segmentation is the segmentation of markets into homogenous groups of customers, each of them reacting differently to promotion, communication, pricing and other variables of the marketing mix. Market segments should be formed in that way that difference between buyers within each segment is as small as possible. Thus, every segment can be addressed with an individually targeted marketing mix. The importance of market segmentation results from the fact that the buyers of a product or a service are no homogenous group. Actually, every buyer has individual needs, preferences, resources and behaviors. Since it is virtually impossible to cater for every customer’s individual characteristics, marketers group customers to market segments by variables they have in common. These common characteristics allow developing a standardized marketing mix for all customers in this segment. Through segmentation, the marketer can look at the differences among the customer groups and decide on appropriate strategies/offers for each group. This is precisely why some marketing gurus/experts have described segmentation as a strategy of dividing the markets for conquering them....
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...A deep understanding of products and the services they provide for a consumer is what keeps business alive according to (Ravald & Grönroos, 1996). The core product of any service/ industry/ organization must have essential benefits as well as enhanced benefits to stay ahead of the market (Marshall & Johnston, 2011). With Starbucks the core product is coffee, for Ford is is cars and trucks, for LongHorn Steakhouse it is steak. This core product have to have the best quality and value to compete in the market and, according to Marshall and Johnston, it does this by providing essential benefits (no more hunger and great taste) as well as enhanced benefits (daily fresh steaks never frozen as well as perfect steak seasoning). LongHorn, a Darden company, uses all of these to stay ahead of the competition. The essential benefits and enhanced benefits as mentioned above are what the consumer (called guests) keeps coming back for more quality and taste. LongHorn’s most significant selling campaign is that of “fresh, never frozen, quality cuts of meat, seasoned to perfection”. The executives of Darden as well as LongHorn set this standard because they want consumers to know they care about the quality of food they are serving and that is how the consumer knows the restaurant cares for them. This is what the guest expects. They expect perfect, fresh steaks and they are guaranteed that or the steak is “on the house”. Therefore the guests also expect great quality that they pay for. Not...
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...Marketing Management Case Analysis Clean Edge Razor: Splitting Hairs in Product Positioning Group AE1: Abhinav Singh (14S601) Anima Tapadiya (14S607) Dushan Garg (14S616) Niharika G (14S628) Raviteja Palanki (14S636) Prem Sharath (14804) Q.1. What changes are occurring in the non disposable razor category? Assess Paramount’s competitive position. Changes occurring in the non-disposable razor category: Consumers are increasingly becoming aware of technology and are demanding for technologically advanced and innovative razors. The market is growing at the rate of 5% approximately from 2007-10. Every player in this market is planning to increase the advertising media expenditure which translates to say that the market is being tapped to its full potential. Also, distribution outlets are responding to the increasing demand by increasing the shelf space. To cater to this increasing demand, 22 new stock keeping units were introduced between 2008 and 2009. Initially, the distribution of non-disposable razors was limited to traditional food and drug stores. But over the years from 2007 to 2010, the distribution started to shift towards mass merchandisers and club stores. Paramount’s Competitive position: Paramount presence is in the moderate and value segments. Paramount’s products Pro and Avail were currently not able to cater to the demand for technologically advanced and innovative products. Paramount also faced competition from substitute products like disposable...
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...L’Oréal Marketing Strategies in India Before the facial cosmetics, L’Oreal was known as a hair-color formula developed by French chemist Eugene Schueller in 1907. It was then known as”Aureole”. Schueller formulated and manufactured his own productswhich were sold to Parisian hairdressers. It was only in 1909 that Schueller registered his company as “Societe Francaise de Teintures Inoffensives pour Cheveus,”the future L’Oreal. Scheuller began exporting his products, which was then limited to hair-coloring products. There were 3 chemists employed in 1920. In 1950, the research teams increased to 100 and reached 1,000 by 1984. Today, research teams are numbered to 2,000 and are still expected to increase in the near future. Through agents and consignments, Scheuller further distributed his products in the United States of America, South America, Russia and the Far East. The L’Oreal Group is present worldwide through its subsidiaries and agents. L’Oreal started to expand its products from hair-color to other cleansing and beauty products. The L’Oreal Group today markets over 500 brands and more than 2,000 products in the various sectors of the beauty business. Such includes hair colors, permanents, styling aids, body and skincare, cleansers and fragrances. Indeed, the L’Oreal Group has reached the peak that all cosmetic brands sought after. L’Oreal has engaged in many forms of Market Segmentation in their venture in India, with different variables during different time periods...
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