...In the business world, the marketers of an organisation are arguably the most pivotal element to the business success. Marketing management can be defined as ‘the application of marketing related strategies and tactics to meet an organisation’s stated goals’ by Moore and Pareek (2010, p. 7). Therefore, marketers are in charge of selecting target market through observation and analysis of wants and needs, applying the marketing metrics in a beneficial way and sustaining a stable market and client base. One of the most fundamental tasks that the marketing team is in charge of is identifying a target market and inturn their needs and wants. A niche market must be attained prior to attempting to market any product or service as it is the first step in selling. Realising the target markets requirements and desires in a product through surveys and observations are one of the key roles of a marketer. The customer base must be well researched to assist in selecting goods, adapting the market and pitching sales all based upon reliably sourced information. Satisfaction according to Churchill and Suprenant (1982 pg.491) involves such phenomena’s as attitude change, repeat purchase and brand loyalty. For example food chains use customer service surveys that allow the consumer to have there say and for action to take place from the feedback. Therefore the marketing team aims to keep the market sustained, providing long term customer satisfaction through these means. The marketing...
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...“WHAT DO MARKETERS DO?” Marketers can be seen as the bridge between an organisation and the community; the many roles of a marketer include focusing on the competition, finding out perhaps why consumer chooses their products over yours. Focusing there efforts on understand your customer base for services and product and evolving accordingly, creating new ideas helping expand the growth of a company, creating a brand. Ensuring good internal communication between all departments is well connected. To put it simpler marketer/marketing departments roles in there organisation are to make help make product/service X more appealing to the consumer base then product Z from another organisation (Rob Engelman, March 2007, “What Does A Marketing Department Do”). Globalisation for a company is a massive step for any organisation. The roots of the first few steps are marketing, a wide range of challenges appear when stepping onto the international scale. The first is simply finding a market need for your product and service; would there even be a consumer base? Cultural difference would be a massive factor, they would you advertise is different, the colour you use would be different, Asian culture the colour red is the colour of good fortune hence why many companies use the colour scheme to help blend in culturally. The time zone differences are a factor, communication could be an issue (Brian Hill, “What Are Some Challenges That Firms Face for International Marketing?”). The key principles...
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...they have received. When marketers want to create something that has value to the potential buyers, marketers must know first, what do the potential buyers need or want. As a marketer, it does not make any sense if we sell something that does not have value, or if the marketers want people to purchase something that they do not need of even want. Marketers can not force anyone to do something. They can only ask them to buy their product or service. Some people might not care about what they are asking for. So, in the business of selling product or service, we know word “marketing”. Marketing is an art of identifying and meeting the people’s needs and wants. It is all about communication between two parties that profitable for the both sides by exchanging value. Marketing is not that easy to do. As we know, we can not mess with the “free will” of the people around us or people that we see as the potential buyers. It is up to them if they are willing to buy the marketers’ products or service. In this case, the marketers have to do their marketing activities. Their job is to tell people that their product or service is suit with the people’s need or want. Therefore, the marketers have to know what do people need or want. How can the marketers find out about what the people need or want? They analyze the potential buyers. They have to collect data about the potential buyers. The data is all about their behavior and so on. Anything that can help the marketers to make the potential...
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...Does Marketing Create need or Satisfy Need or manipulate need? “The real journey of discovery consists not in seeing new landscapes, but in having new eyes.” - Marcel Proust The traditional concept of marketing was only about sales or meeting the “current needs” of a consumer Example: Mac Books or laptops are such a common commodity among students and even school kids irrespective of the fact that it is not really needed. Can’t they manage with a desktop at home? But now day’s companies do more! They educate people and give them reason to buy their products and this is what people might call it “creation of needs” people purchase something when they need it, if they think they do not need the product they may not purchase it. How many people today in Pakistan need I-pod? How many people really need Mobile + Internet + Camera + TV all in one set? Can we call it marketers created their needs? Looking at advertisements today the word 'free' is the most common denominator found in the ads, free is used in combinations such as free home trial, free inspection, and buy one get one free, free installation, free parking, free demonstration and free consultation. The word free is usually a powerful catalyst that springs the consumer into buying that particular product or idea even though he or she might not need it. I think it also attract people into buying things they don't need. Also terms such as 'no payments till 2010' or 'money back guarantee' 'no down payment' 'offer good...
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...Does marketing create or satisfy needs? Take a position, marketing shapes or merely reflects needs and wants of consumer? When we talk about marketing, there are lot things that we should know first. Marketing is activities of creating value that desired by the potential buyers and receiving value from the potential buyers for the value that they have received. When marketers want to create something that has value to the potential buyers, marketers must know first, what do the potential buyers need or want. As a marketer, it does not make any sense if we sell something that does not have value, or if the marketers want people to purchase something that they do not need of even want. Marketers can not force anyone to do something. They can only ask them to buy their product or service. Some people might not care about what they are asking for. So, in the business of selling product or service, we know word “marketing”. Marketing is an art of identifying and meeting the people’s needs and wants. It is all about communication between two parties that profitable for the both sides by exchanging value. Marketing is not that easy to do. As we know, we can not mess with the “free will” of the people around us or people that we see as the potential buyers. It is up to them if they are willing to buy the marketers’ products or service. In this case, the marketers have to do their marketing activities. Their job is to tell people that their product or service is suit with the people’s...
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...). Marketers play crucial role in marketing activities. They work between companies and consumers, design and implement marketing plans and strategies to achieve marketing goal of companies, satisfy consumers demand at the same time. This essay will demonstrate two types of marketers and their duties, also suggest possible challenge faced by marketers. Companies’ aim is to sell their products to consumers, as well as promote their brand and products to attract more consumers. Therefore overall marketers’ obligation is to search for potential markets, select one or multiple markets as target, take the market environment and all other related factors that will impact on their brand into consideration to design appropriate marketing strategies, and manage the undertaking marketing activities (Mbalib n.d.). In order to seeking potential market opportunities, it is essential for marketers to do comprehensive market research in forms of observations and surveys, which helps marketers to understand consumers’ needs and wants, as well as their behaviour (Sharp 2013, p.6). Generally, there are two types of marketers. One is mainly involved in routine marketing activities, they are performers of marketing decisions, experiments and proposals (Laura n.d.). They also are information collectors and product promoters. They promoting and selling brands, conduct market researches and report the results, collect and report the market matrix figures (Sharp 2013, p.9). This type of marketers are...
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...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 their...
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...RESEARCH REPORTS FOR INDUSTRIAL MARKETERS Trends in Industrial Marketing 2012: How Manufacturers are Marketing Today »»» Industry trends and research rePOrts fOr IndustrIal marketers Contents GlobalSpec Industrial Marketing Trends Survey .................................................................................. 3 Highlights from the Survey Results .................................................................................................... 3 Conclusions ........................................................................................................................................ 4 Recommendations ............................................................................................................................. 5 Marketing Goals and Challenges ....................................................................................................... 7 Marketing Channels and Programs..................................................................................................... 9 Marketing Budgets and Sales Expectations ..................................................................................... 13 The GlobalSpec Advantage .............................................................................................................. 17 About GlobalSpec, Inc. ..................................................................................................................... 18 Graphs What is your primary marketing goal...
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...dysfunctional meaning they do not always operate properly or as they should (Kotler, Rackham & Krishnaswamy, 2006). One of the key goals of a business is to make profits, which is done by making sales, which only happens by providing a product that satisfying the customer’s needs (Futrell, 2013). This requires both sales and marketing. You would expect sales and marketing to be well aligned in a successful organization, however this is far from the case. This essay will first look at the causes that usually lie behind the concern that sales and marketing do not always act collaboratively to the benefit of the organization but in fact have a dysfunctional relationship exists between marketing and sales divisions. It will look into the ways in which this problem can negatively impact on an organization's ability to serve its customers and compete effectively. Finally potential solutions will be identified and discussed in relation to improving the synergy and integration between sales and marketing, which will ultimately allow organizations serve their customers and compete most effectively in this ever changing world. What causes Sales and Marketing relationship to be dysfunctional? Within a business to business organization, sales and marketing do not always act collaboratively to the benefit of the organization (Rouziès, Anderson, Kohli, Michaels, Weitz & Zoltners, 2005).This lack of collaboration and subsequent deficiency of communication originates from what (Kotler et al., 2006)...
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...covers the fundamental which is 4Ps. * Expectations * Tutor’s expectations. * Importance of attendance. * Those with less than 50% attendance will have to meet up with the lead lecturer and stand a chance to be barred from final exam. Tutorial 2 Lecture 1 – Introduction to Marketing ______________________________ 1. How does an organization create a customer? 2. (a) Identify the four types of utility and give an example of each. (b) Why is utility such an important feature of marketing? 3. (a) Define relationship marketing, and describe how it fits into the marketing concept. (b) Why is determining the lifetime value of a customer an important analysis for a company to take? Tutorial 3 Lecture 2 – Understanding Marketing Management _________________________________________ 1. What is the difference between a firm’s mission and its objectives? Why is it important that both are conveyed clearly to employees and to customers? 2. How does the BCG matrix help marketers decide which products to offer? According to the matrix, which...
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...to IMM Graduate School of Marketing In partial fulfilment of the Postgraduate Diploma By Gerhardus Francois Nel Student Number: N67513 July 2012 Supervisor: Dr Sidney Shipham Executive Summary The marketing profession worldwide has for the last decade been under pressure to show its worth. Marketers are finding it harder to show value and at an executive level, this is even more pronounced. The lack of being able to show clear return on investment in their activities has meant that many marketers and indeed marketing departments are being questioned as to their role in the fulfilment of the business strategy. In the light of all this negative attention, marketers themselves have not branded themselves as strategically important and through the ever increasingly complex role of a marketer today, the gap between how marketers are viewed by their counterparts and how they view themselves, has begun to show. In an effort to establish how marketers view themselves, their perceptions of their value and how that impacts on their career advancement and acceptance at an executive level, the research aims to highlight the need for a professional marketing standard in which marketers can gain a positive impression of themselves and the profession in general. Simply having a recognised qualification will obviously not be the only solution but the subsequent understanding of the value of marketing at a strategic level for the business and the explicit application of that marketing...
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...What are the implications of consumer behaviour for marketing strategy? Marketing strategy is playing an important role in a successful business. But, how to ensure the strategy is using correctly? Indeed, understand the consumer behaviour is the first point for marketer to making the right decision. Marketer need to understand the perception of customer and the culture of their target audience. Brand image is crucial for a product because it will affect the perception of customer. According to O'Cass and Frost (2002), if the consumer understand about the key brand and match with what they want, it will increase the opportunity of buying. Use other words, if the consumer do not care about the characteristic of brand and brand-image, they will not consume the product. Thus, the marketer should understand more about their customer in order to build a positive brand image and let their customer familiar with their brand. Besides, if the consumers have a positive feelings during the purchasing process, it will reduce the time of making decision. For example, there are a lot of laptop brands with different functions, appearances and prices in the market, and each of it has different target audience. Like Sony, they are target on higher social status consumer who willing to spend more money on it which having positive image to attract customer. Thus, Sony always open it outlet at higher class shopping center and do advertisement on television. It is easy to get the attention...
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...order to reach the goal of creating a relationship that holds value for customers and for the organization, marketers use a diverse Toolkit that includes (but is not limited to) making decisions regarding: 1. Target Markets – markets consist of customers identified as possessing needs the marketer believes can be addressed by its marketing efforts 2. Products – consists of tangible (e.g., goods) or intangible (e.g., services) solution to the market’s needs 3. Promotion – a means for communicating information about the marketing organization’s products to the market 4. Distribution – the methods used by the marketer that enable the market to obtain products 5. Pricing – ways for the marketer to set and adjust the cost paid by the market to obtain products 6. Supporting Services – additional options that enhance a product’s value While these decisions are shown with a number, the order of decision-making does not necessarily follow this sequence. However, as we will discuss, in almost all cases marketers should first identify target markets (#1) prior to making decisions #2 through #6 (commonly called the Marketing Mix) since these decisions are going to be directed toward satisfying the desired target markets. Each option within the Marketer’s Toolkit is tightly integrated with all other options so that a decision in one area could, and often does, impact decisions in other areas. For instance, a change in the price of a product (e.g., lowering the price)...
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...marketing and a marketing orientation have rarely been more important. Yet time and time again we see the value of marketing being questioned and marketing budgets cut. White Paper: I believe marketing is essential to the success of organisations. However, sometimes marketers are their own worst enemy, failing to account for their often considerable Marketing’s decline: budgets, falling back on dull and uninspiring campaigns, and floundering when questioned on the financial impact of their strategies. a wild exaggeration? Dr Evmorfia Argyriou, Aston Business School, UK This White Paper, the result of research completed for The Professor Peter Leeflang, Rijksuniversiteit Groningen, The Netherlands Institute by Aston Business School, reveals how marketers themselves perceive their role and importantly how they are Professor John Saunders, Aston Business School, UK and AUDENCIA Grade École, Nantes, France perceived by their colleagues in the finance department. Professor Peter Verhoef, Rijksuniversiteit Groningen, The Netherlands Whilst marketing is unquestionably central to business success – with marketing orientation and the influence of marketing within a firm critical to business performance – our Paper shows that marketers must overcome their own Contents weaknesses if they are to prove the value they add and earn the respect of their peers. 2 Marketing’s decline? 4 Marketing now David Thorp Director of Research and Professional Development 6 Marketing is loved! The Chartered Institute...
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...Branding What does Branding mean? It is the process of creating a magnificent name and image in the consumer's mind for a product. This kind of process can be done through advertising campaigns with a particular theme. By developing brand recognition, customer awareness will increase. Marketers have to take time and careful planning to create a fantastic name and image for their brand. (BusinessDictionary.com, 2014) What to consider before when developing a brand. (Sorensen, 2014) To create a perfect brand name, marketers need to consider few steps before developing their brand. * Marketers need to identify the target market: they need to know what type of customers they need to attract. For example, if they want to attract younger customers; trendy photos and music will attract them. * Marketers have to consider legalities: they have to make some research before developing their ideas about the brand to make sure that they do not infringe on other competitors brand. Also, by doing this step legally, marketers will protect their company's name. * Marketers have to consider the logo and color scheme for their brand: Choosing a simple color and unique graphics can help to create the brand name. * Marketers need to consider celebrity endorsements when they are creating their brand name. Using a famous person in their advertisements and commercials can help to grab customers' attention. When marketers do that they will have two advantages, one of them is they...
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