...Business - Marketing and Human Resources Functional Areas of Business - Marketing and Human Resources The MBA overview highlights several areas of business that are studied in the MBA program at University of Phoenix. Two of the functional areas of business that appeal to me are marketing and human resources. This paper will review these two business functions, and provide an explanation of the management role in each area. Marketing Business Function. The role of marketing in an organization is critical to its success. Marketing can be defined as “the management process through which goods and services move from concept to the customer” (businessdictionary.com). Marketing focuses on the marketing mix, also known as the four P’s of marketing; Product, Price, Place and Promotion. All four must be present and work together in order to achieve success with a product or service (Khonat, 2013). However, marketing is much more than just the traditional role of being charged with advertising and promotional plans. Today’s marketing operations require cross-functional and diverse teams to produce results (Scott, 2013). Scott (2013) goes on to explain that marketing must work with all areas of the business; for example, with sales and IT for customer relations, and with R&D and manufacturing with regards to new product development and innovation. The Marketing Manager. I believe that the role of marketing Manager would be a...
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...1. What is the overall purpose of a marketing plan? A marketing plan is a written statement that helps the company to operate on a certain standard to keep production of the product or service on the same level ( Winer 2004). A marketing plan is a necessary factor for every business to have in the employee handbook and also for proper and even distribution of the product or service. A written plan is a easy way for the marketing manager to inform employees exactly what is expected of them instead of having everything in his head. This way everything is covered without having loose ends and later on having production problems. Direct communication with the employees is a good thing, but with a written plan this gives the manager concrete evidence on how the organization should be operated. In other words, the manager spends less time telling the employees what to do and more time making sure the product or service is correct. The most important thing in having a written marketing plan is that it helps you build, direct and shape up your product or services. It also forces the marketing manager to look at the business from the inside and the outside to give good service to the customer and stay abreast on the competitors. “This disciplined thinking helps to ensure that before any marketing strategies or programs are developed, the manager first analyzes customers and competitor behavior and the general climate in the product category or industry. Market-focused decisions...
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...Report On Structure of MIS Submitted By: Navneet Bajwa IT and Telecom Roll No. :- 03 INDEX Introduction | 3 | Physical components of MIS | 4 | Conceptual Components of MIS | 5 | Structure Based on Management Activity | 6 | Structure Based on Organizational Functions | 12 | Applications Based on MIS | 18 | References | 20 | Introduction Management information system broadly refers to a computer-based system that provides managers with the tools to organize, evaluate and efficiently manage departments within an organization. MIS, or Management Information Systems, are used to manage the data created within the structure of a particular business. These systems store the data and allow the business to manipulate this data. It is the study of people, technology, organizations and the relationship among them. MIS can be defined as the study of how individuals, groups and organizations evaluate, design, implement, manage and utilize systems to generate information to improve efficiency and effectiveness of decision making. The concept of MIS gives high regard to the individual and his ability to use information. While analyzing the data, it relies on many academic disciplines. These include the theories, principles and concepts from the Management Science, Psychology and Human Behavior, making the MID more effective...
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...wsafsdfMarketing management is a business discipline which is focused on the practical application of marketing techniques and the management of a firm's marketing resources and activities. Rapidly emerging forces of globalization have led firms to market beyond the borders of their home countries, making international marketing highly significant and an integral part of a firm's marketing strategy.[1] Marketing managers are often responsible for influencing the level, timing, and composition of customer demand accepted definition of the term. In part, this is because the role of a marketing manager can vary significantly based on a business's size, corporate culture, and industry context. For example, in a large consumer products company, the marketing manager may act as the overall general manager of his or her assigned product.[2] To create an effective, cost-efficient marketing management strategy, firms must possess a detailed, objective understanding of their own business and the market in which they operate.[3]In analyzing these issues, the discipline of marketing management often overlaps with the related discipline of strategic planning. ------------------------------------------------- tarketing management employs various tools from economics and competitive strategy to analyze the industry context in which the firm operates. These include Porter's five forces, analysis of strategic groups of competitors, value chain analysis and others.[4] Depending on the industry, theregulatory context...
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...MKT 315 WK 2 QUIZ 1 CHAPTERS 1 & 2 To purchase this visit here: http://www.activitymode.com/product/mkt-315-wk-2-quiz-1-chapters-1-2/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 315 WK 2 QUIZ 1 CHAPTERS 1 & 2 MKT 315 WK 2 Quiz 1 Chapters 1,2 MULTIPLE CHOICE 1. Which type of strategy did Walmart decide to use to compete with Amazon? a. Heavy advertising b. Price reduction c. Establish kiosks in Walmart stores d. Wholesale distribution e. Mass distribution via its own online channel 2. Which of the following statements is false? a. Consumer expectations have moved firms to add additional channels. b. Both B2C and B2B businesses are increasing the number of channels they use to distribute their products c. The flexibility to respond to consumers does not appear to be relevant to channel design. d. Channels must be targeted to reach intended customer segments. e. The increasing role of technology is helping to foster the use of multiple channels. 3. Which of the following is a true statement about Internet-based channels? a. Walmart's channel model continues to rely on its 'brick and mortar' stores exclusively. b. ‘Bricks and Mortar’ retailers that added online capabilities to traditional channels of distribution have had sluggish sales. c. Online sales have become an established distribution channel for B2C but not B2B markets. d. Internet-based channels have become a mainstream channel in the channel mixes of many firms. e. The growth of E-commerce...
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...Strategy implementation is an iterative process of implementing strategies, policies, programs and action plans that allows a firm to utilize its resources to take advantage of opportunities in the competitive environment (Harrington, 2006). Under the behaviour perspective, implementation is the actions initiated within the organization and its relationships with external constituencies to realize the strategy (Varadarajan, 1999). Implementation is operationally defined as those senior-level leadership behaviors and activities that will transform a working plan into a concrete reality (Schaap, 2006). In the hybrid perspective, implementation is defined as ‘the sum total of the activities and choices required for the execution of a strategic plan…the process by which strategies and policies are put into action’ (Wheelen & Hunger 1992). Strategy execution is defined as the step-by-step implementation of the various...
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...Archive Strategic Marketing. A literature review on definitions, concepts and boundaries Jorge Mongay Autonomous University of Barcelona, SBS Swiss Business School 2006 Online at https://mpra.ub.uni-muenchen.de/41840/ MPRA Paper No. 41840, posted 9. October 2012 20:07 UTC WORKING PAPER. JM-A1-2006 STRATEGIC MARKETING: A LITERATURE REVIEW ON DEFINITIONS, CONCEPTS AND BOUNDARIES. Dr. Jorge Mongay Autonomous University of Barcelona (UAB) & SBS Swiss Business School 1 WORKING PAPER. JM-A1-2006 Summary 1. Definitions of strategic marketing 2. Aspects of Strategic Marketing 3. Factors in Strategic Marketing 4. Elements of Marketing Strategy 5. Intersections with others disciplines 5.1. Intersection between Strategic Marketing and Marketing Tactics 5.2. Intersection between Strategic Marketing and Corporate Strategy 5.3. How does it Strategic Marketing fit into Corporate Strategy? 6. Final conclusions of the paper 7. References 2 WORKING PAPER. JM-A1-2006 1. STRATEGIC MARKETING AND ITS DEFINITIONS Although most authors speak about some parts of Strategic Marketing, here is included a list of definitions of the term. Some authors appear in different years ( for example, Jain), It is understand that they have added new comments or redefined the term after the years. The table and the definitions have been ordered by year of publication. Author Year Definition Drucker 1973 “ Strategic marketing...
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...European Scientific Journal May 2013 edition vol.9, No.13 ISSN: 1857 – 7881 (Print) e - ISSN 1857- 7431 MARKETING STRATEGIES OF BOTTLED WATER PRODUCING COMPANIES: THE CASE OF KOSOVO Ejup Fejza, Mr.Sc Alban Asllani, MSc. Universum College, Prishtina, Republic of Kosovo Abstract One of the main functions within a company is the marketing area and as it is of the utmost importance and relevance of having an already established and well functioning department of marketing within the company, which would implement proper, just-in-time and a step-ahead of competition marketing strategies. Such an established and wheel functioning marketing department could potentially result in the company getting a better positioning in the market, will increase the company’s market share and satisfy customer needs, wants and meet their demands. Thus, creation and implementation a successful marketing strategy in business is very crucial, especially when we deal with a business such as water production, still or sparkling. The purpose of the research is to analyze the implementation of marketing strategies by Kosovo producers of water and to provide clear recommendations for companies that do not use marketing strategies. During the research we have found that water producers do not even have an already established marketing department, have not employed any marketing personal, nor they have a qualified sales person representing the company. According to our research of the existing water producing...
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...To create a marketing plan, the manager needs information: SWOT analysis is one of the most effective tools in the analysis of marketing data and information The SWOT analysis fulfils this role by structuring the assessment of the fit between what a firm can and cannot do (S/W) and the environmental conditions working for and against the firm (O/T). If the SWOT analysis is done correctly, it can be a viable mechanism for the development of the marketing plan. If done haphazardly or incorrectly, it can be a great waste of time. They are six directives for a productive SWOT analysis: Stay focused: We often make the mistake of conducting one generic SWOT analysis for the entire business unit. It should be a series of analyses, each focusing on a specific product/market combination (Example of GM) Search Extensively for competitors: The firm must watch for any current or potential direct substitutes for its products (Kodak) Collaborate with Other Functional Areas: It generates information and perspectives that can be shared across a variety of functional areas in the firm. Managers of other areas should learn what other managers see as the firm’s SWOT. Such cross-pollination can generate a very conducive environment for creativity and innovation. Examine issues from the Customers’ Perspective: All issues are not equally important; the marketing manager should identify the most critical issues by looking at each one through the eyes of the firm’s customers. We although...
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...It is evident that strategic planning is important when it comes to decision making for many marketing managers. The article The Big Lie of Strategic Planning by Roger Martin, suggests that choosing a strategy strictly based on a certain process “entails making decisions that explicitly cut off possibilities and option” (Martin, 2014). It speaks on the fear that many marketing managers face when challenged with decisions because the wrong decision can surely hurt his or her career, as well as the company. Martin explains it is taught that executives that problems can be solved with the the tested “tools” and learned research processes, but the downfall to this is the expensive comprehensive planning and time consuming preparation. By the end of that process, executives feel less scared in their decision making. The article argues that “this is a terrible way to make strategy” (Martin, 2014). Instead, it’s a way to cope with fear of the unknown. The article states that “strategy is not the product of hours of careful research and modeling that lead to an inevitable and almost perfect conclusion. Instead, it’s the result of a simple and quite rough-and-ready process of thinking through what it would take to achieve what you want and then assessing whether it’s realistic to try” (Martin, 2014 ). Fear is apart of risk taking, to make good decisions, sometimes managers must take certain risks. Martin then goes on to explain our “comfort traps” during a decision making process. The...
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...MARKETING PROCESSES 1 DEVELOPING MARKETING STRATEGIES AND PLANS • Corporate and division strategic planning All corporate headquarters undertake four planning activities: a. Defining the corporate mission. b. Establishing strategic business units (SBUs). c. Assign resources to each SBU. d. Assessing growth opportunities. 1. Defining the Corporate Mission Key questions to ask: What is our business? Who is the customer? What is of value to the customer? What will our business be? What should our business be? Mission statements are best when guided by a “vision” that provides direction for the company. [pic] Good mission statements have three major characteristics: a. Focused on a limited number of goals. b. Stresses the company’s major policies and values. c. Defines the major competitive spheres within which the company will operate by defining the: o Industry. The range of industries in which a company will operate. Some companies will operate in only one industry; some only in a set of related industries; some only in industrial goods, consumer goods, or services; and some in any industry. o Products and applications. Range of products and applications a company supply. o Competence. The range of technological and other core competencies that a company will master and leverage. o Market-segment. The type of market or customers a company will serve. o Vertical. The number of channel levels from...
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...DEVELOPING OF MARKETING STRATEGIES AND PLANS C H A P T E R 2 ___________________________________________________________________________ INTRODUCTION How do companies compete in a global marketplace? One part of the answer is a commitment to creating and retaining satisfied customers. We can now add a second part: Successful companies know how to adapt to a continuously changing marketplace through strategic planning and careful management of the marketing process. In most large companies, corporate headquarters is responsible for designing a corporate strategic plan to guide the whole enterprise and deciding about resource allocations as well as starting and eliminating particular businesses. Guided by the corporate strategic plan, each division establishes a division plan for each business unit within the division; in turn, each business unit develops a business unit strategic plan. Finally, the managers of each product line and brand within a business unit develop a marketing plan for achieving their objectives. However, the development of a marketing plan is not the end of the marketing process. High-performance firms must hone their expertise in organizing, implementing, and controlling marketing activities as they follow marketing results closely, diagnose problems, and take corrective action when necessary. In today’s fast-paced business world, the ability to effectively manage the marketing process—beginning to end—has become an extremely...
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...ScienceDirect Journal of Business Research Antecedents and outcomes of strategic thinking Byeong-Joon Moon ⁎ Kyung Hee University, Republic of Korea, School of Management, Kyung Hee University, Republic of Korea a r t i c l e i n f o a b s t r a c t This study focuses on the factors that influence strategic thinking at the organizational level. Based on previous research on strategic thinking in diverse management fields including marketing strategy, strategic management, and human resource management, this research provides a hypothetical model that links the firm's internal and external variables regarding strategic thinking at the organizational level, which in turn links to marketing performance. The results of empirical analysis provide evidence that the attitude of firms' management toward risk taking, the CEO's emphasis on strategic thinking, interdepartmental teams in the organization, and marketing competency foster strategic thinking at the organizational level, but formalization in the organizational structure impedes it. Contrary to the proposed hypotheses, centralization in the organizational structure is positively related to strategic thinking at the organizational level. The results also show that market turbulence and technological turbulence foster strategic thinking at the organizational level and there is a positive relationship between strategic thinking and marketing performance. © 2012 Elsevier Inc. All rights reserved. Article history: Received...
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...Joimml of Marketing Management, 1994, 10, 703-723' Douglas Brownlie Department of Stirling, UK Organizing for Environmental Scanning: Reformations Enmrontnental scanning is one of the cornerstones of strategic marketing. A plethora of normative literature argues that it plays u key role in bringing information about the external environment to the attention of decision-makers in order that they can make better informed decisions. This literature also provides a rich source of ideas about how to go about environmental scanning, particularly dealing with the collection of data and the various techniques that can be used to analyse that data. Yet, empirical findings point strongly to the view that the low deeds of environmental scanning practice, diverge in some important respects from the high-minded prescriptions of the normative literature. Various explanations can be put forward for this. This paper considers those explanations. Specifically ii explores the assumptions and premises about the constructs of organization and environment which inform the strategic marketing literature. It argues the case for alternative images of organization and environment. And on the basis of this, proposes the concept of Marketing, University of O r t h o c l o x i e S a n d writerly environment scanning, embedding environmental scanning in broader political and cultural processes both within and Tvithaut the organization. Introduction Although environmental scanning has its...
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...business, including management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. In order to succeed in business, the organization must bring together the functional areas accordingly to achieve organizational goals. A critical role in any business is the manager. The manager plays an important part in utilizing each area to align the organization collectively towards economic prosperity. In this paper, I will examine the role of the manager in each of the functional areas of business. A business organization is a very complex structure. In order to be successful, a business needs to coordinate and organize many areas within the organization to achieve its mission. According to the University of Phoenix’s MBA Overview Model (2014), the functional areas of business include management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic planning. An essential component to any business that intertwines the functional areas is the manager. The role of the manager plays an important part in utilizing each area to align the organization collectively towards economic prosperity. In this paper, I will analyze the role of the manager within each of the functional areas of business. “Management and organization lie at the heart of performance of both individual enterprises and national...
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