...find ways to attract customers in their business. From production era to customer based era now, different ideas and philosophies were created so as to to go with the need of the market at that certain period of time. That is why marketing is so vital in the future of business. IMPORTANCE OF MARKETING ORGANIZATIONS Marketing is the situation where by business men , companies find out the needs of their potential customers and then providing goods and service to them {McDaniel,2008,pp290}. In the past marketing was highly based on selling side, producers rationale was providing mass production on the notion that market was unlimited {Nickels,2012}. time element is an important factor in marketing . Customer needs change as time goes on .It is the job of marketeer’s to know what the customers want in that particular period of time{nickels,2012}.in general marketing has passed different eras from production era to selling era to market concept then finally to customer based era{Nickels,2012}. Each era had different type of market, first was production era this was the era during first world war where by production of goods largely depended on producer’s capacity due to the market was unlimited{kyunish,2005}. It was followed by selling era in 1920’s where by existance of mass production had forced businessmen to find market so that they can sell their products through advertisements{Nickels,2012}. Thirdly , it was the market concept era after second world war. Where by there was...
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...COLLEGE OF BUSINESS FIRST SEMESTER SESSION 2013/2014 BKAS 3103 INFORMATION SYSTEMS STRATEGIC PLANNING GROUP A INDIVIDUAL ASSIGNMENT : ”THE THREE ERA’S” PREPARED BY: NADIA ABDULLAH 213802 SUBMITTED TO : PUAN RAJA HASLINDA BINTI RAJA MOHD. ALI SUBMIT DATE: 3RD OCTOBER 2013 Three-era model is the era consists of data processing, management information system and strategic information system. Data processing (DP) is a process to convert for a set of inputs which is like raw data that will produced outputs. Output for example information and even facts. Management information systems (MIS) is basically using computer system to manage the organizations effectively and efficiently. Strategic information system (SIS) is typically using computer system in order to manage competitiveness in this whole flexible business changes. Data processing started in the 1960's followed by Management Information system in years of 70's and beginning of new era in 1980's of strategic information system. This three era is the process of developing better basically computer system but on different business areas. As we all know the computer for a person is to collect data, process data and turn it into an information. However, in an organization these system helping them in improving the effectiveness and the efficiency of operation, management and competitiveness among this rapidly changing of business world. The Data processing and Management information system is...
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...Q: Describe how today’s customer relationship differs from prior eras oriented to production & selling. A: U.S. business history is divided into four periods: the production era, the sales era, the marketing concept era, and the current customer relationship era. The production era covers the period to the 1920s when buyers were willing to accept virtually any goods that were available. The central notion was that products would sell themselves. The sales era lasted from the 1920s to the 1960s. Manufacturers found they could produce more goods than buyers could consume, and competition grew, so the solution was to hire more salespeople to find new buyers. In the 1960s, the marketing concept era dawned, when organizations began to integrate marketing into each phase of the business. In today's customer relationship era, organizations focus their efforts on (a) continuously collecting information about customers' needs, (b) sharing this information across departments, and (c) using it to create customer value. The first objective in maintaining customer relationship is discovering the needs of prospective consumers. This is not an easy task because consumers may not always know or be able to describe what they need and want. A need occurs when a person feels physiologically deprived of basic necessities such as food, clothing, and shelter. A want is a felt need that is shaped by a person's knowledge, culture, and personality. Effective marketing can clearly shape a person's...
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...Turner is adjunct instructor-first year experience/Freshman Learning Community at Georgia State University and Elizabeth Thompson is Clinical Psychologist at Thompson and Associates. In the article, “College Retention Initiative Meeting the needs Of Millennial Freshman Students” Dr. Patrick Turner and Dr. Elizabeth Thompson (2014) has done a subjective research on the conduct routine of millennial college understudies. They states that, “Americans colleges and universities is encountering problems in educating the new generation born in 1982-2002 called as Millennials. Millennials need to learn about the new technological uses and communicative strategies”. Specialists arranged diverse poll for distinctive understudies to investigate the needs and exercises to enhance the school environment. A few confinement were connected with the study as it was done in single group and society and few dint reacted well. Out of 30 member who are millennial understudy with distinctive field of study and examiner was arranged and given to understudies. Later results were ascertained on the age and answer gave few issues were raised by millennial, as first year of school is extremely discriminating and difficult to hold. And I think that the researches is very useful in differentiating the attention which is required to the students according to their knowledge and skills. Annotated Bibliography-2 Bell, N., McMinn, N., (2011) Millennials' Views on the Role of Business in Sustainable Development:...
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...iPhone 6-era produced more growth than the iPhone 5-era (trend is in the right direction), AAPL is opening more retail stores in China now than ever before, China’s middle class is growing at a rate of 10% (assuming China GDP growth of 7%) and is expected to be 1.5x the size of the US middle class in 2017, and 30% of iPhone buyers are switching from Android. Although it was arguably reasonable for analysts to sound the alarm bells from 2013 through 2014 because era-over-era growth dropped from 563.3% (iPhone 4-era) to 51.1% (iPhone 5 era), it is unfounded today given a conservative iPhone 6 era-over-era growth estimate of approximately 63% (30%+ per year). This report focuses on the iPhone because it generates nearly 70% of AAPL revenue and 100% of growth. I bought AAPL on 2/16/2016 at $95.0 because the Street’s 2017 revenue and earnings estimates are irrationally low. Thesis Summary: * The Street focuses on QoQ growth rates and next quarter guidance, which equates to comparing every iPhone release with the previous release in order to project short to medium term iPhone revenue growth. This methodology would have an investor think that iPhone growth is slowing and the iPhone 7 will produce far lower growth than the 5 (~25%/year) or the iPhone 6 (~30%/year) * The reasonable/rational way to think about iPhone growth is “era-over-era” because all iPhone releases are not comparable and one ought to expect AAPL's revenue growth to be lumpy. I refer to this business model as...
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...The Big Idea hbr.org Scott D. Anthony is the managing director of Innosight Asia-Pacific and the author of The Little Black Book of Innovation (Harvard Business Review Press, 2012). The New Corporate Garage Illustration: otto steininger Where today’s most innovative—and world-changing—thinking is taking place by Scott D. Anthony Quick: List the big companies that have launched paradigm-shifting innovations in recent decades. There’s Apple—and, well, Apple. The popular perception is that most corporations are just too big and deliberate to produce game-changing inventions. We look to hungry entrepreneurs—the Gateses, Zuckerbergs, Pages, and Brins—instead. The rise of fast, nimble, and passionate venture-capital-backed entrepreneurs seems to have made slow-paced big-company innovation obsolete, or at least to have consigned it to the world of incremental advances. But Apple’s inventiveness is no anomaly; it indicates a dramatic shift in the world of innovation. The revolution spurred by venture capitalists decades ago has created the conditions in which scale enables big companies to stop shackling innovation and start unleashing it. September 2012 Harvard Business Review 45 The Big Idea The New Corporate Garage Three trends are behind this shift. First, the increasing ease and decreasing cost of innovation mean that start-ups now face the same short-term pressures that have constrained innovation at large companies; as soon as a young company gets a whiff of success...
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...com/2004/08/marketing-myopia.htmlhttp://www.dallascap.com/pdfs/MarketingMyopia.pdfFor lots of in-depth examples | Flat World E-Text Read Chapter 1 Print These Pages from the WGU E-Reserves Library * Four Eras in the History of Marketing (Contemporary Marketing, pg. 8-11) * Avoiding Marketing Myopia (Contemporary Marketing, pg. 13) * Table 1.2 Avoiding Marketing Myopia (Contemporary Marketing, pg. 13) * Elements of Relationship Marketing (Contemporary Marketing, pg. 312 Review these Websites: 1. Marketing: Historical Perspectives (http://www.enotes.com/business-finance-encyclopedia/marketing-historical-perspectives) 2. Marketing Myopia (http://coolrulespronto.wordpress.com/2008/12/17/marketing-myopia/) Answer These Questions Thoroughly 1. What are the four components of the marketing mix? 2. What kinds of decisions does Product strategy include? 3. What kinds of decisions does Price strategy include? 4. What kinds of decisions does Place strategy include? 5. What kinds of decisions does Promotion strategy include? 6. Describe each of the four eras (or orientations) in the history of marketing: 1) production era, 2) sales era, 3) marketing era, 4) relationship era. 7. What company attitude characterizes each of the eras? 8. What is marketing myopia? Provide three examples. Flat World Readings: Chapter 2 Print These Pages from the WGU E-Reserves * Environmental Scanning (Contemporary Marketing, pg. 61) * Technological...
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...Heitzel Gonzalez HIST 1023.05 Crash Course: Roaring Twenties The roaring twenties was an era of movies, cars, music, illegal liquor, prosperity, credit, gangsters, and prejudice against immigrants. There was exciting changed, freedom, and a change in art like music, poets, and movies. Laissez-fair capitalism led to business growing drastically by governments not regulating it. Trade commission with people who shared same views. Government corruption warren, picked horrible friends they turned out being money hungry, and he was the first to have a cabinet member to be convicted of a felony. The first cars to be created Fords, Chrysler, and General Motors, however, other than for transportation, cars led people to have love affairs. Car and electronic business grew and stretched overseas, causing America to manufacture 85% of the world’s cars and 40% of other good. Toasters, vacuums, refrigerators, and washers allowed Americans’ to have more leisure time, to...
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...Kodak’s success in analog or film photography, and why was it able to maintain its leadership position for so long? In 1884, Kodak roll of film was launched. This was the future innovative product in film business in that era. The first Kodak camera was introduced in 1888. The company distinguished itself and advertised products with the slogan “You press the button, we do the rest.” Kodak focused on customer needs by developing convenient-to-use products. For mass production strategy, the company sold its products by using a razor-blade strategy: low-price camera, but high-profit of film repurchase and having the strong relationship with retailers for selling products and printing photos with Kodak paper. This meant that the company offered customers with complete range of service from photo capturing to photo finishing, resulting in customers’ preference for Kodak rather than higher-quality products from competitors. In order to increase the growth, Kodak also continuously did the research. The company invested in R&D for color film and new cameras to medical imaging and graphic arts. As the result, this technological strength prevented the entry of competitors in the market. Kodak had the largest market share in film market and camera sales by 1976 before the digital era. 2. What are the key ways in which the structure of digital imaging is different from analog or film photography? In photography industry, I would like to divide into 3 processes: image capturing, digitalizing...
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...what a manager is. This document will also cover the responsibilities and accountabilities are for a leader and how the new leader will impact ECG. A manager is someone who is in leads of a certain group of tasks, or a certain part of a company. They usually have workers who report to them, (Business Dictionary.com, 2012). A leader is someone who influences a group of people towards the success of a goal and a person who goes first and leads by example so others will decide to follow them, (Vtaide, n.d.). The words leadership and management are considered to be different by diverse people. Some people see these words and most of the time use them interchangeably in conversations. Some people view them as being opposites; so much, that they would argue that you can’t be a good leader and manager at the same time. While other people stay in the middle and believe that there is a difference between the two, with the knowledge a person can be a good leader and a good manager, (Ricketts, n.d.). The roles of leadership and management activities in a company are subtly different but they do complement each other. They are similar in that they are both critical to the success or failure of a business, (Leadership and Ethical Decision-Making, 2012). There are many ways to distinguish between managers and leaders. Leaders concentrate on the future while managers concentrate on what is happening right now. Leaders develop change and managers conserve status and...
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...selling has developed with the various key changes back into the industrial revolution era that has had an huge impact upon and led to the ways and approaches of selling today and looks into the ancient and modern methods, techniques and attitudes of selling which altogether has contributed to its modernization. The age of selling has brought about many advancements and developments in the world of Marketing through the encouragement of improving technology and people’s hard working attitude towards it, although, the question that remains is how personal selling even started at the first place? For which, Williams et al. (2001) has said in one of his books, Sales Management, that a street peddler was the first person ever who made a door-to-door sale by collecting the produce from the local farmers and selling it to the townspeople. Selling today would never have been so convincing if door-to-door selling was never introduced in the market because without understanding the customer’s needs and wants in detail by discussing with them, the company wouldn’t know what satisfies a customer, what products for whom and how they should be made according to their needs. Salespeople who earned a living only by selling products did not happen to be many in numbers until the Industrial Revolution(mid 1700s) hit England as traders, merchants, and artisans used to fill in the selling function before this era and were treated with disrespect due to frequent use of deception in the sale of goods...
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...This article is an introduction to the historical development of marketing, one of the major functional areas of a business firm. First, marketing is described and defined. Then, the evolution of marketing in the United States is described, touching on several major eras, including the simple trade era, the production era, the sales era, the marketing department era, the marketing company era, and the relationship marketing era. WHAT IS MARKETING? "Marketing is advertising, like those false or deceptive ads on television that try to get you to buy something that you don't really want." "Marketing is like those pushy car salespeople, or those salespeople that come to our front doors selling overpriced vacuum cleaners." "I hate those rude telemarketers calling at all times of the day and night." Some individuals think that marketing involves deceptive, high-pressure tactics to get people to buy something they don't really want. Those individuals are incorrect. While marketing usually involves advertising or personal selling, marketing (practiced correctly) should not try to get people to buy things they don't want, nor should marketers use deceptive or pushy tactics to get people to buy. In fact, marketing is really the process of developing products to satisfy customers through proper pricing, promotion, and distribution. The basic goal behind marketing is to satisfy the customer. Satisfied customers are much more valuable than customers who have been deceived into...
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...Caterpillar shocked the business world earlier this year when it announced that it would take a $580 billion write off for 2012 Q4. This write off was in relation to Caterpillar’s acquisition the previous year of Chinese firm Siwei. Caterpillar alleged that this was the result of fraud that had been committed by Siwei’s managers. There were a lot o f questions asked in the business press. People wondered if Caterpillar had done proper due diligence, how Siwei had perpetrated the fraud, and if any Caterpillar employees had been involved. The incident raised new fears and resurrected old ones about doing business in China and the trustworthiness of Chinese firms. There were rumors everywhere and few answers. Caterpillar itself was not very forthcoming with particulars. This makes it difficult to know for certain what exactly what went wrong and why. Any analysis requires reliance on speculation and raises as many, if not more, questions than it answers. It is still worth looking into because it shows some important points that other companies can learn from. Background Caterpillar has had difficulty establishing a position in China comparable to its position in the rest of the world. In order to grow its operations China, Caterpillar decided to take a route that has proven successful for many MNCs operating in the PRC and use M&A rather than build things from scratch. After looking around, in 2011 Caterpillar proposed the acquisition of ERA Mining Machinery and its...
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... |Winston Salem State University | | |School of Business & Economics | | | | 1. What is marketing? Marketing is the organizational function and set of processes for creating, communicating, and delivering value to customers and for managing customer relations in a way that benefits the organization and the stakeholders. 2. What are the four eras in the history of marketing (see below)? The Production Era: Era when business success was often defined solely in terms of production success. The Sales Era: In this era companies attempted to match their output to the potential number of customers that would want it. The Marketing Era: A shift in the focus from products and sales to satisfying customer needs. The Relationship Era: Focuses on establishing and maintaining relationships with customers and suppliers. 3. What is Marketing Myopia? Marketing Myopia is when managements fails to recognize the scope of its business. Product oriented instead of customer oriented hinders future growth. 4. What are the categories of Nontraditional Marketing (see below)? Person Marketing: Designed...
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...information in the organization. MIS is used to effectively solve problems in business on all levels for all areas. MIS can be compared to the study of Computer Science, the study of design, implementation, deployment, and evaluation of computer systems. Although, there are similarities, MIS focuses on the business environment as a way to use computers and similar technology for an organization. MIS has come a very long way through the years. There are six different eras that catalog the evolution. The first era began with the standalone mainframe. Users would use a punch card to type programs. They then would give the punch cards to the MIS personnel to input the information into the mainframe. The second era came about by the introduction of the hard-wired terminal. Users would input programs onto electronic keyboards; MIS personnel would maintain keyboards, known as dumb terminals, and the communication to the mainframe. The PC brought about the third era. Users would bring PCs to work and MIS personnel’s job functions became more complicated as they were asked to help with problems associated with these early PSs. As organizations realized the amount of productivity gain from having PCs, LANS and Enterprise Networks were beginning to be used in the fourth era. LANS WANS and Enterprise Networks complicated the MIS department further as users connected with each other. The fifth era was brought about by the internet. However, some security concerns arose with...
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