...Mass Marketing is Diminishing Some claim that mass marketing will always exist for the large brands that target the mass market. Others claim that mass marketing is becoming less significant. I believe mass marketing is becoming less significant due to advancements in technology and the impact of cultural diversity. I will describe why I think these two major factors are eliminating mass marketing along with what I believe the future holds for mass marketing. Advancements in Technology Technology has evolved over the years from the Internet to smartphones to social media and is now a part of our everyday lives. In addition, with technological advancements companies now have more than ever the ability to maintain customer databases. I believe for a company to become successful marketing strategies need to adapt to changes in technology. Internet, Smartphones, Social Media Prior to the emergence of the Internet companies used mass marketing because the strategy was to reach as many consumers as possible. Then the Internet enabled consumer’s endless access to information, thus changing their purchasing behavior. Consumers are able to become more knowledgeable about products than ever before. Marketing efforts need to be adjusted to appeal to Internet users. According to Kotler and Keller (2012), “The widespread usage of the Internet allows marketers to abandon the mass market practices that built brand powerhouses in the 1950s, 1960s, and 1970s” (p. 135). Then once...
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...IS MASS MARKETING DEAD? 2 Abstract Some claim that mass marketing is becoming less significant; others claim that it is not and that there will always be room for large brands that employ marketing programs that target the mass market. The paper compares mass marketing and its ability to reach today’s consumers. This examination of mass marketing shows its weakness in the market and its approach to becoming nonexistent. IS MASS MARKETING DEAD? 3 Is "Mass Marketing" Dead? The best approach todetermine the future of mass marketing is to take a look at its conception.The industrial revolution paved the way for the concept of mass marketing. Railroads were being built from coast to coast; providing transportation of both people and product.The telegraph was there to satisfy the need for faster communication.A country that relied on local markets was rapidly growing; cities were being populated and the demand to supply basic needs was greater than any time prior.Savvy entrepreneurs were able to seize this opportunity to make their brand known by mass producing their product and advertising.Mass marketing is a single market plan with the same mix of product, price, andpromotion strategies for the entire market.Those that adapted to this strategy were untouchable in the market place. Henry Ford was well known for his contributions to mass production.His innovative approach to making a car with limited features drastically lowered the production cost...
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...Mass customization, in marketing, manufacturing, and management, is the use of flexible computer-aided manufacturing systems to produce custom output. Those systems combine the low unit costs of mass production processes with the flexibility of individual customization. The concept of mass customization is attributed to Stan Davis in Future Perfect[1] and was defined by Tseng and Jiao (2001, p. 685) as "producing goods and services to meet individual customer's needs with near mass production efficiency". Kaplan and Haenlein (2006, pp. 168–182) concurred, calling it "a strategy that creates value by some form of company-customer interaction at the fabrication / assembly stage of the operations level to create customized products with production cost and monetary price similar to those of mass-produced products". Just as mass production was crucial to manufacturing in the 20th century, mass customization (MC) will be the key to economic growth in the 21st century. MC is the ability to design and manufacture customized products tailored to meet a customers needs at mass production costs and speed (see Figure 1). While organizations continue to outsource for economical reasons, managing the interfaces between suppliers has become expensive and inefficient. By dispersing engineering and production geographically, manufacturers have increased the number of places their knowledge interfaces and multi-tier supply chains can breakdown. This amasses hidden costs, increases lead times...
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...Is Mass Marketing Dead? TABLE OF CONTENT NO 1.0: 2.0 3.0: 4.0: References DETAIL Introduction Is Mass Marketing still a viable way to build a profitable brand? The reasons for the fall of traditional Mass Marketing Conclusions PAGE 3-4 5-7 7 – 13 14 - 16 17 1 1.0: INTRODUCTION Marketing is about identifying and meeting human and social needs, (Kotler, 2002) or even in simpler words, that is done to attract and retain customer at a profit. Thus, we see marketing management as the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering and communicating superior customer value (Kotler, 2012). This simple definition tells that marketing is basically customer oriented in nature. However, looking back at the history of marketing indicates that the idea of marketing was different and it took many different shapes at different ages. The four major marketing management philosophies i.e production concept, product concept, selling concept and marketing concept are in fact, related to this evolutionary nature of marketing. This conceptual development of marketing implies that initially marketing was associated with the mass production and efficient delivery of the products (production concept) and now it is viewed as a customer oriented essential business activity (marketing concept). An inquisitive mind may ask a simple question: before even production concept what was the form of marketing? If the job of marketing...
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...Market - the place where offer and demand meet. Marketing - set of actions used by organizations to influence public behaviour they depend on. The value of a product is linked to consumer perception: the consumer believes he will get an experience that is worth the money. Perceived value -> Experience -> Satisfaction -> Preference Understand the market –> Adapt to the market -> Better influence the market Types of Market: Company, Reference, Generic, Induced (print ink), Captive (limited competition) Market Analysis: Size of the market, Demand analysis, Competitor Analysis, Environment Analysis (political, economic, social, technological), SWOT Consumer behavior is made of i) consumer needs and expectations, ii) consumer purchasing process. Knowing consumers’ needs and expectations is the best way to successfully market products (demand and supply meet). Knowing the purchasing process they follow and the way they make choices in a given situation is the best way to make them purchase a product. Variables that influence purchasing process: * Risk analysis (financial, psychological, physical, functional) * Implication: importance given by consumer to the purchasing decision * Experience: is consumer used to buying this product * Situation/environment Purchasing Process: Problem Identification ->Information Research ->Evaluation-> Decision Most of the markets are heterogeneous: expectations and behaviours of...
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...preventive measures which are to address the future threats of Starbucks. We will first look at the corrective measures which CCD should implement to deal with the immediate threat that Starbucks is bringing. As mentioned previously, Starbucks which offers premium coffee to a group of price insensitive customers, is going to threaten CCD's premium coffee business, specifically CCD's lounge and square in the short run. Hence CCD in order to reduce it susceptibility towards the threat of Starbucks to its premium coffee market, CCD should improve its brand equity in its premium coffee market so as to entice and retain its own customer base through improving its services and products offering in their premium coffee market stores and via mass marketing campaigns such as advertisement. CCD previously has advertised its brand through localised marketing initiatives and on site promotions however this lacks the effectiveness that mass marketing would bring. Hence by intensifying its mass marketing efforts to promote CCD's premium coffee products such as CCD's square and lounge, it would make CCD's products more recognizable and memorable for the public which would entice consumers to visit CCD's square and lounge. On the other hand, Starbucks which has a 'no advertising' strategy, can only depend on superior customer service and word-of-mouth to entice customers hence Starbucks would not be able to reap the benefits that mass marketing efforts would bring, and it might not have the...
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...Marketing Myopia, is it Relevant Today? Marketing Myopia by Theodor Levitt was published in 1960. In the article he discusses that every industry is a growth industry and that growth does not decline or stop because the market is saturated, it does so because of a failure of management. According to the article, an industry is a customer-satisfying process, not a goods-producing process. Businesses will be more successful in the end if they concentrate on meeting consumers’ needs rather than on selling products. To illustrate his point Levitt uses several examples (Digital Marketing, 2010) His first example is of the decline of growth in the railroad industry. Railroads did not decline because needs were filled by cars, trucks, planes or telephones. They declined because they failed to meet their customers’ needs. Railroad executives assumed themselves to be in the railroad business and not in the transportation business. They declined not because of cars, trucks, airplanes, and even telephones, but because of their own myopia (Levitt, 1960). The next example that Levitt uses is that of Hollywood. Hollywood barely escaped being totally wiped out by television. All of the established film companies went through drastic reorganization or disappeared. Similar to the railroads Hollywood forgot that they were in the entertainment business and operated as those they were just in the movie business. Instead of embracing television as an opportunity they viewed it as a threat...
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...1.0 Chapter 1 Introduction 1.1 Scope of the Study 1.2 Objectives of the Study 1.3 Organization of the Study 1.4 Limitations 2.0 Chapter 2 Introduction 2.1 Objectives 2.1.1 Understanding the importance of fashion industry 2.1.1.1 Introduction 2.1.2 Examine the innovations of fashion communication 2.1.2.1 Introduction 2.1.3 Evaluate the scope and challenges with fashion ethical issues 2.1.3.1 Introduction 2.1.4 Study the future prospect of fashion marketing 2.1.4.1 Introduction 3.0 Chapter 3 Introduction 3.1 Case study 4.0 Chapter 4 Conclusion 1.0 Chapter 1 Introduction Fashion is a general term for a trendy style, most commonly related to clothing, jewelry, shoes, accessories, make up, or furniture. Fashion is also something we deal with daily and changes constantly as time progresses. New fashion ideas can be influenced by music, movies, videos, books and other related (items and media connected to popular culture. Due to these changes and relationship with popular culture, fashion is a big business. The fashion industry is involved in the purchasing, selling and manufacturing of clothing. It solely focuses on generational fashion trends and to figure out consumer's liking in different segmentations. (pbs.org) The fashion industry is one of the major contributing sectors in the global economy; it had created various job opportunities for the people. Most noticeably, the industry has designed and manufactured clothing...
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...final decision is the most important in terms of acquiring something, the buying power. Someone can have the need to drink something because he is thirsty and he wants as an individual and due to his personal preference and social stimuli to drink red wine. He would need to have enough money to buy red wine. The same applies to the decision to buy a car. One could want to get a Ferrari but chooses to get a Fiat because that is what he can afford. All three factors are equally important because someone who has enough buying power to get a Ferrari won’t get it if he can’t drive a car or if he doesn’t like it. 2. What are the five different marketing management orientations? Which approach is McDonald’s adopting in your opinion? The five different marketing management orientations are production concept which includes the mass production of the same...
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...IMPORTANCE OF MANAGEMENT ABSTRACT Marketing changes with time, as time goes on marketeer’s 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...
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...Strategy Planning - Chapter 13, Question 3 Kelley Draine Marketing Management, BBA 403 Olivet Nazarene University Professor Scott Fortin March 20, 2013 Retailers and retail shopping has changed significantly over the years. No longer do we have a large majority of one type of shopping. Retailers have changed anywhere from discount house retailers to conventional retailers to mass merchandising. Typically what you find today are stores which carry various departments and or specific to a need. In the past it was more of a high volume of items in one location of what was then considered the “general stores”. Below are the distinctions between the various retailers, the effect of future shopping within different capacities and how the Internet will affect this future. Discount house – Retailers who could offer products anywhere from 20-70% off regular priced items than regular retailers. They are able to offer manufactured brands at a good discounted price. An example of this would be outlet malls with a variance of retailers offering extremely first-class discounted prices for named brand items. Conventional Retailers – Provide a service and product specific to a need. These types of retailers supply products to a target market. An example would be a tuxedo rental store. The target market would be customers who might need merchandise for a formal event such as weddings, dinner party or even a school prom. Mass-merchandising – Appeals to a larger market at lower...
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...Asia Pacific Journal of Marketing & Management Review__________________________________________ ISSN 2319-2836 Vol.2 (6), June (2013) Online available at indianresearchjournals.com FACTORS AFFECTING PURCHASE DECISION OF CARPENTERS FOR LAMINATES UMA SHANKAR SINGH*; SRITAM KUMAR PADHI** *PH.D. (FULL TIME RESEARCH SCHOLAR) INSTITUTE OF BUSINESS AND COMPUTER STUDIES SIKSHA „O‟ ANUSANDHAN UNIVERSITY BHUBANESWAR, ODISHA, INDIA **MBA INSTITUTE OF BUSINESS AND COMPUTER STUDIES SIKSHA „O‟ ANUSANDHAN UNIVERSITY BHUBANESWAR, ODISHA, INDIA _____________________________________________________________________________________ ABSTRACT The main reason to conduct this study is to find out the factors which compel or attract a carpenter to choose a laminate or veneer for his clients. This project report is revealing the state of mind of the carpenters with the changing environment. How the carpenters reacted with the change in customer preference and with the introduction of a large number of companies dealing with laminates and veneers. To know this a survey conducted using a structured questionnaire containing the items which helped in obtaining the desired information from the carpenters. Carpenters were approached targeted the capital city Bhubaneswar of Odisha state in India The aim and motive of carrying this project is to know about the brand awareness and consumer preference for laminates. The objective of this research is to find out the foremost factors...
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...1. Stragetic Marketing In its strategic role, marketing focuses on business’s intentions in a market and the means and timing of realizing those intentions. The strategic role of marketing is quite different from marketing management, which deals with developing, implementing, and directing programs to achieve designated intentions 1.1 Concept of strategic marketing As shown above, the marketing function plays at different levels in the organization. At the corporate level, marketing inputs (competitive analysis, market dynamics, and environmental shifts) are essential for formulating a corporate strategic plan. Marketing represents the boundary between the marketplace and the company, and knowledge of current and emerging happenings in the marketplace are extremely important in any strategic planning exercises. At the other end of the scale, marketing management deals with the formulation and implementation of marketing programs to support the perspectives of strategic marketing, referring to marketing strategy of a product/market. This time, marketing strategy is developed at the business unit level. |Marketing’s Role in the Organization | |Organizational level |Role of Marketing |Formal Name | |Corporate |Provide customer and competitive...
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...Marketing Paper What is Marketing? The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organizational objectives American Marketing Association The management process responsible for identifying, anticipating and satisfying customer requirements profitably UK Chartered Institute of Marketing To satisfy individual customers, is tackled by using the marketing mix (4Ps) - product - price - place - promotion For services, is has been suggested that a further 3Ps be added: 1. People 2. Physical Evidence 3. Process People – add value and dimension – service quality. The original mix considers personal selling but not the operational aspects of service delivery. - Personnel – training commitment, incentives, appearance, interpersonal behaviour - Attitudes - Customers – Other customers, behaviour, degree of involvement - Body Language also has an impact (posture, gestures, eyecontact, tone of voice, promixity) Processes – How overall system operates - to be consistent and predictable - Policies and Procedures - Degree of automation - Employee discretion - Customer involvement - Flow of activities Physical Evidence – i.e. type of hotel or aircraft. Physical elements to support the core concept: - Environment – furnishings, colour, layout...
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...ROLE OFADVERTISING IN MODERN MARKETING The History of Advertising can be traced to ancient civilizations. It became a major force in capitalist economies in the mid-19th century, based primarily on newspapers and magazines. In the 20th century. Advrtising history runs parllel to the history of mankind. Prior to the invention of printing press (1450A.D.) there were town criers who sold their goods through shouting.Advrtising is diffuclt to define its multi-dimensional .It is a powerful marketing tool it is a field of employement and a profession. The American Marketing Assoction (AMA) defines Advertising as any paid form of non-personal presentation of ideas or goods and services by an identified sponser. Advertising according to the above definition ,is a paid communation .Advertising is for wide range for product and services. Each advertising is sponserd byan identified party or an advertiser. Advertising received a boost after the indudtrial revolution in England. Printing press invention also give a boost to advertising. Advertising messages started as hand bills (1477). The first Indian agency was set up in 1905 in Girgaon, Mumbai .It was Dattaram and company .Indian advertisng completed its 110 years in 2015. Over these years, Indians advertising has had many change faces. CONTRIBUTION TO ECONOMIC GROWTH Advertising contributes to economic growth b7 helping to expand the market, particularly for new products, and by helping to develop new market segments...
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