...SCHOOL OF MANAGEMENT Learning to make a difference MKIB: 230 Retail Marketing Coursework assignment: “For a retail organization of your choice evaluate the elements of its retail marketing mix, in terms of the effectiveness with which they are used to appeal to the core target market” ZARA – flagship chain store List of Contents I. Introduction: 2 II. Background 2 III. Retail Marketing Mix 3 1. Merchandise assortment 3 2. Location 3 3. Price 4 4. Store design and Visual merchandising 4 5. Advertising and promotions 5 6. Customer service 5 IV. Competitors 6 V. Conclusion 6 References 7 Appendix I………………………………………………………………...…..9 Appendix II…………………………………………………………………..10 Appendix III…………………………………………………………………11 I. Introduction: The following report is about the evaluation of the marketing mix of “ZARA” clothing, which is considered to be one of the most successful clothing brands in the UK nowadays. This report will focus your attention on the main elements of the its retail marketing mix. The main objective of the report is to show how effectively those elements are used by Zara to appeal to the core target market. For the report were used primary and secondary researches. The secondary data was derived from various academic books, journals, websites, Internet resources, annual reports. The primary data was collected through qualitative approaches. Some observations of the stores were made, as well as exploring the staff...
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...SIMULATION TITLE: What is Marketing? SIMULATION DESCRIPTION: Holden Evan, Inc., has long been the premium dog food market leader with its flagship Grand Champion brand. The brand targets breeders, trainers, and owners of purebred dogs willing to pay higher prices for superior nutritional and health benefits. During an economic downturn, the Grand Champion brand suffered a sharp and prolonged decline in sales. The Marketing Manager must re-evaluate the brand's marketing strategy and marketing management orientation to determine if they need revision. You earned 100 percent. Background Holden Evan, Inc., has long been the premium dog food market leader with its flagship Grand Champion brand. The brand targets breeders, trainers, and owners of purebred dogs willing to pay higher prices for superior nutritional and health benefits. During an economic downturn, the Grand Champion brand has suffered a sharp and prolonged decline in sales. The brand has become unprofitable. The marketing team is concerned that customer needs and wants may have shifted. Your objective as Marketing Manager is to re-evaluate the brand's marketing strategy and marketing management orientation to determine if they need revision. Background Your supervisor, the Vice President of Marketing, describes your assignment. "We have traditionally been the market leader in the premium dog food market with our Grand Champion brand. However, during the recent economic downtown, the brand suffered a sharp drop in...
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...Message Strategy: Marketing Pro Choice and Anti Tobacco Related Messages Table of Contents Introduction…………………...…………………………………………………………………...4 The Steps of a Message Strategy (referencing a CDC Campaign)………….…………………….5 First Step of Message Strategy………………………………...………………………….5 Second Step of Message Strategy……………………………………...……………..…...6 Last Step of Message Strategy…………………………………………………………….7 Target Audiences……….…………………………………………………………………………8 Message Strategy Appeals.………………………………………………………………………..9 Conclusion……………………..………………………………………………………………...10 References……………………......………………………………………………………………12 Introduction Message strategy is the specific determination of what a company wants to say and how it wants to say it. The elements of a message strategy include verbal, nonverbal, and technical components that are also called rationale (Message Strategy, n.d.). A message strategy can be considered a foundation of marketing. It needs to be strong or a company’s marketing efforts will fall apart. A marketing strategy makes it easier to deliver the same message across all marketing media including websites, brochures, advertisements, and presentations to investors, industry analysts, and prospects (Abinanti, para. 2). Consistent execution of the same message is a critical factor in successful marketing. In this paper, message strategy will be researched and demonstrated through the marketing of pro choice tobacco and anti tobacco related messages. The...
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...further expansion cannot be over-emphasised. An analysis or evaluation of the potential market is the first step to take in the planning process. A critical decision area within this first step is which existing country market to invest in. This decision should be informed by the firm’s current situation which involves a critical analysis of its strengths, weaknesses, opportunities and threats. Furthermore, its orientation, products, policies and philosophies must be matched with the targets country’s market potential and its constraining factors. The screening phase thus, allows the firm to eliminate markets or countries with weak potential and by that helps the firm to concentrate on the ones that are viable. However, in situations where target segments are emerging markets, it presents some challenges, this is because distribution challenges are not well developed, market infrastructures are still developing and income levels vary from country to country. Once an agreement has been reached on target markets, prospective countries can be evaluated. This is done by running a country’s PEST factors against the company’s capabilities, resources, objectives for going international and limitations. The latter and the expected return on investment should inform the evaluation criteria in assessing market potential. Key performance indicators like, minimum market potential, minimum return on investment, acceptable competitive levels, acceptable legal requirements, standards of political...
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...Strategy: Marketing Pro Choice and Anti Tobacco Related Messages Table of Contents Introduction…………………...…………………………………………………………………...4 The Steps of a Message Strategy (referencing a CDC Campaign)………….…………………….5 First Step of Message Strategy………………………………...………………………….5 Second Step of Message Strategy……………………………………...……………..…...6 Last Step of Message Strategy…………………………………………………………….7 Target Audiences……….…………………………………………………………………………8 Message Strategy Appeals.………………………………………………………………………..9 Conclusion……………………..………………………………………………………………...10 References……………………......………………………………………………………………12 Introduction Message strategy is the specific determination of what a company wants to say and how it wants to say it. The elements of a message strategy include verbal, nonverbal, and technical components that are also called rationale (Message Strategy, n.d.). A message strategy can be considered a foundation of marketing. It needs to be strong or a company’s marketing efforts will fall apart. A marketing strategy makes it easier to deliver the same message across all marketing media including websites, brochures, advertisements, and presentations to investors, industry analysts, and prospects (Abinanti, para. 2). Consistent execution of the same message is a critical factor in successful marketing. In this paper, message strategy will be researched and demonstrated through the marketing of pro choice tobacco and anti...
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...Choice Modeling: Marketing Engineering Technical Note 1 Table of Contents Introduction Description of the Multinomial Logit (MNL) Model Properties of the MNL Model S-shaped response function Inverted “U” Marginal response Elasticity of response Proportional Draw Logit Model Estimation via Maximum Likelihood Using Logit Models for Customer Targeting Using Logit Models for Customer Segmentation Determining the number of latent segments in MNL models Summary References Introduction Firms today have access to increasing amounts of market response data at the level of individual customers, including data from scanner panels, direct marketing efforts, online retailing, loyalty programs, and the like. These data include both the marketing effort directed at a customer (e.g., price discount, or specific email sent to that customer) and the associated specific behaviors (e.g., purchase, customer support) of that customer. Consequently, there is also increasing interest among marketers in developing and using response models specified at the individual level. Analyses of individual-level data are useful for firms even for making decisions about aggregate marketing actions, such as TV advertising. After all, markets are composed of individuals, and acknowledging This technical note is a supplement to the materials in Chapter 1,2, and 7 of Principles of Marketing Engineering, by Gary L. Lilien, Arvind Rangaswamy, and Arnaud De Bruyn (2007). © (All rights reserved) Gary L. Lilien...
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...Marketing Strategy for Products Tiffany Major - Cooper Marketing Management / MKT 500 Dr. Shirley McLaughlin October 30, 2011 Choices My business Choices will be a Not for Profit, based upon educating women and children in abusive relationships. It would include helping them find resources to remove them from their environment, getting into support groups, other therapeutic techniques and starting educational classes if needed. Choices would need to determine which marketing objectives were needed if it wanted to start. It would also need to determine where it would be in the next year or longer, how Choices would get there, and how it will in point of fact know if it met its goals or not. I believe marketing objectives are very important for Choices, since the company is a not for profit company funding is a major key component that plays a big part in Choices functions. Without the proper funding Major Choice will not exist. Marketing will be important because Choices would be life changing for women and children and would need to take certain steps to make the women and children happy and healthy. Laura Lake in Eight Steps to Marketing Your Nonprofit Organization states “Marketing is an unfamiliar concept for many nonprofit organizations. It's important that these organizations understand that marketing is more than just the old sense of making a sale or obtaining a donation. Marketing is a way to satisfying the consumer and donor needs.” (Lake, 2011) Marketing...
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...com/product/mkt-305-wk-8-assignment-2-consumer-behavior-analysis/ Contact us at: SUPPORT@ACTIVITYMODE.COM MKT 305 WK 8 ASSIGNMENT 2 CONSUMER BEHAVIOR ANALYSIS MKT 305 WK 8 Assignment 2 - Consumer Behavior Analysis For this assignment, you work for the marketing manager of an organization that is going to launch a new line of personal care products in the U.S. market. The proposed target market will be males, between 18 and 35 years old, and price points will cover income ranges from lower to mid-level. Distribution is planned to take place in drug, grocery stores, and stores such as Wal-Mart and Target, with the primary retailer carrying the full product line being drug stores. You have been tasked with a consumer behavior analysis to help make marketing decisions. Write a six to eight (6-8) page paper in which you: 1. Propose a type of message appeal to be used in the advertising, making sure to explain the rationale behind the appeal. 2. Analyze the different cultures this product will appeal to and make recommendations on which three (3) would be the best choice. 3. Decide which microcultures and additional demographics should be targeted. 4. Suggest ways to utilize group influence in the marketing of the product. More Details hidden... Activity Mode aims to provide quality study notes and tutorials to the students of MKT 305 WK 8 Assignment 2 Consumer Behavior Analysis in order to ace their studies. MKT 305 WK 8 ASSIGNMENT 2 CONSUMER BEHAVIOR ANALYSIS ...
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...McBride Financial Marketing Plan Based out of Boise, Idaho, McBride Financial Services is a small mortgage lender that is in its beginning stages. The firm’s focus will be in standard, FHA, and VHA loans for home refinancing and purchasing. The company hopes to increase its offices into Wyoming, Montana, North Dakota, and South Dakota. “McBride Financial Services will be the preeminent provider of low cost mortgage services using state of the art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, and South Dakota.” (University of Phoenix, 2005, 2011, para. 2). McBride Financial Services has decided to redesign it’s marketing plan so they can reach individuals that fit the profile of the type of consumer that their services are created for. Now let us look into what it will take to create a strong marketing plan for McBride Financial Services. Market Research The first step in creating a strong marketing plan is research. Researching the product is a way to find out what catches customers’ attention by looking at their actions and coming to conclusions from what is observed. Using market research is a helpful means that can save the company time, effort, and money. By performing this research, McBride will gain the opportunity to market to certain types of individuals that are more likely to purchase their service instead of wasting money advertising in a general region. One source that will be useful to McBride Financial Services is the use...
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...Marketing Plan: Phase II Target market is a fairly homogeneous (similar) group of customers to whom a company wishes to appeal (Basic Marketing – McGraw – Hill Irwin 18th Ed, 2011). Businesses or organization usually have a choice among possible target market although they aim at specific targets. There are different basic ways to develop market-oriented strategies using the combiners, and segmenters’ approach for specific target which, are single target market approach, multiple target market approach, and combined target market approach. These approach will identify segments of the demography which include; family life-cycle, gender, age, income and nationality. As an organization which, mission and value is to be their customers’ favorite place and way to eat and drink; with the introduction of a new product (The McBrunch) on the menu, the target market will include youths, and lower to middle class family. Because of the similarity of customer attitudes, needs, buying behavior, and the nature of competition among other business with similar products, a well design target market approach is required. The target market approach will enable the company to create a new product that satisfies customers’ need such as value meal, and fast-service meal. McDonald is a company that offers proper combination, and good quality food and services at a reasonable price. McDonald is one of the most popular and valuable brand in the fast food industry with an outlets of over...
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...McDonald-Chambers MKT 100 February 10, 2013 Professor Agnieszka Sheriff Product Assessment Product marked for “obsolesces” in the U.S. that will be discussed in this case is Home Phone Service. For many years, this product has been used by various people in this country. However with the increase of the amount and quality of technological products, more sophisticated products serving similar purposes have entered the market, therefore, making the Home Phone Service obsolete. This means that the home phone service is no longer in demand (Federal Communications Commission, 2013). The use of this product significantly has dropped in the U.S. because many people currently use more efficient and portable communication products. In terms of its latest target market demographics using U.S. Census Data, home phone services are commonly used by housewives compared to other categories of people who prefer to use cell phones regardless of age and sex. Consider the table below. Table 1: Home Phone Users (Millions) Year | Jan 06 | Dec 06 | Jan 07 | Dec 07 | Jan 08 | Dec 08 | Jan 09 | Dec 09 | Jan 10 | Dec 10 | Jan 11 | Dec 11 | Users | 142.3 | 138.2 | 134.6 | 129.7 | 124.6 | 118.5 | 112.7 | 107.0 | 102.4 | 97.5 | 93.4 | 89.4 | Source: Federal Communications Commission. Local Telephone Competition: Status as of December 31, 2011. FCC Report. This report shows a decline in the use of home phones in the United States, indicating that this technology has been overtaken by the introduction of cell...
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...CHAPTER EIGHTEEN Lecture Notes for Essentials of Marketing 14e For use only with Perreault/Cannon/McCarthy or Perreault/McCarthy texts. © 2014 McGraw-Hill Companies, Inc. McGraw-Hill/Irwin Multimedia Lecture Support Package to Accompany Essentials of Marketing Lecture Script 20-1 This slide refers to material on p. 499. Summary Overview This chapter concludes Essentials of Marketing by covering three broad concepts: 1) Evaluating marketing As indicated in Chapter 1, there are two levels of marketing: • the micro (managerial) level—concerns the marketing activities of an individual firm; and • the macro level—concerns how the whole marketing system works. 2) The key components of an innovative marketing plan. 3) Challenges facing marketers. Multimedia Lecture Support Package to Accompany Essentials of Marketing Lecture Script 20-2 This slide relates to material on p. 498. Summary Overview This chapter suggests that satisfaction and costs serve as criteria for evaluating the impact of marketing. Key Issues • A nation’s objectives affect the evaluation of marketing. • The social and economic objectives of a nation may differ depending on that nation’s socio-political structure. • Consumer satisfaction is the objective in the United States. • This objective is derived from a market-based economic system, and it implies that political freedom and economic freedom go hand in hand. • In the U. S., people have the right to live as they choose and to satisfy...
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...Marketing Mix Individual Assignment Adrienne Kelley MKT-421 May 5, 2014 Marketing Mix Individual Assignment Marketing is essential to the success of a company’s business no matter how big or how small, with the main focus on quality, consumer value and customer satisfaction. The marketing mix is a strategy used in marketing to ensure the primary focus is met on a consistent basis. The four elements of the marketing mix are known as the "Four P's" of marketing. The marketing mix combines these four elements to produce the results it needs to achieve in a specific target market. Many organizations use the four Ps to gain a competitive advantage in the marketplace. (SmallBizConnect, 2014). The four major components of the marketing mix are explained below: * Product (or Service) * The product is the goods or services that a business sells to their target market. When developing a product or service the company should consider quality, design, packaging, and features of the product or service. * Place * Place refers to the location, distribution channels, methods, and logistics for getting the product or service to the customer. * Price * The amount of money customers pay to purchase the company’s product or service. Price setting must consider the competition in the target market and the cost of the entire marketing mix. * Promotion * The focus of promotion is to acquire new customers, while also retaining current customers...
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...CHAPTER 8 IDENTIFYING MARKET SEGMENTS AND TARGETS LEARNING OBJECTIVES In this chapter, we will address the following questions: 1. What are the different levels of market segmentation? 2. In what ways can a company divide a market into segments? 3. What are the requirements for effective segmentation? 4. How should business markets be segmented? 5. How should a company choose the most attractive target markets? CHAPTER SUMMARY 1. Target marketing includes three activities: market segmentation, market targeting, and market positioning. Market segments are large, identifiable groups within a market. 2. Two bases for segmenting consumer markets are consumer characteristics and consumer responses. The major segmentation variables for consumer markets are geographic, demographic, psychographic, and behavioral. Marketers use them singly or in combination. 3. Business marketers use all these variables along with operating variables, purchasing approaches, and situational factors. 4. To be useful, market segments must be measurable, substantial, accessible, differentiable, and actionable. 5. We can target markets at four main levels: mass, multiple segments, single (or niche) segment, and individuals. 6. A mass market targeting approach is adopted only by the biggest companies. Many companies target multiple segments defined in various ways such as various demographic groups who seek the same product benefit. 7. A niche is a more narrowly defined group...
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...Running Head: MARKETING ON THE WEB In today’s business industry a company’s marketing strategy is vital in order for that company to reach its target market. When the World Wide Web was created it gave companies a way to new ways not only to meet its target markets but also potential markets all over the world. Marketing on the web can provide a company with many benefits that can expand knowledge of the company, its brand, and products and services it offers. A company decides how to market its web page by first figuring out how it will group itself based on do they provide a product or service to the customer or are they based on what the customer wants. Product-based marketing strategies arrange the products on the web page the same as the product design. Customer-based strategies lets the company think as if they were the customer and design the page according to what they think is the customers’ needs. Choosing a marketing strategy for the web page thus entails a company will reach its market segments targeted. To reach a target market a company must first find their market then segment them accordingly. Although there are many types of market segments companies can choose to group consumers in order to reach their target market effectively, on the Web there are three main segments that used are demographic, geographic, and psychographic segmentations. In demographic segmentation, consumers are categorized according to gender, age, income, occupation, education, and...
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