...1. Why are Baby Boomers such a lucrative market? Baby boomers have a lucrative market because unlike the generation before them they want a lot of different things available to them. They are a perfect target market because they are willing to pay for what they want and they have the money to do so. Baby boomers are also usually more financial secure and if they like what you have to offer they’ll keep coming back. This generation also finds their health important and they keep up with diet and excises. With the average life span increasing that could give a company increased profits over time. 2. How has the marketing research process been used to understand how Baby Boomers shop and interact in stores? The research involved dressing up a person in a way that replicated what a person in their 70’s is feeling. They duplicated how a baby boomer gets merchandise off shelves and how high or low they look on the selves. By using observation methods researchers were able to record how a person’s physical conditions impacted their lives and buying decisions. They did all of this in a way that didn’t make the baby boomers feel embarrassed or put down. 3. How have stores used marketing research findings to tailor their stores and products to appeal to Baby Boomers? With the information found stores were able to adapt to that particular market in a manner that was appropriate to their needs. By lowering the selves and placing magnifying glasses near items that...
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... Weakness, Opportunities, Threat (SWOT) Analysis 6 Section B for question 2 4 Product/Market Expansion Grid 5 Product/Market Expansion Grid Cont’ 6 Section C for question 3 4 Demographic characteristics 5 Perceptual Map 5 Integrated Marketing Communication (IMC) 6 Conclusion 4 References 4 Introduction Executive Summary The initial part of the report compares Shanghai Tang with 2 others luxury ready-to-wear brands in the western market, namely Chanel and Dior. It discusses the demographic and cultural environmental forces faced by Shanghai Tang when competing with other luxury ready-to-wear brand in the western market followed by a SWOT (Strengths Weaknesses Opportunities and Threats) analysis to identify both the internal environment (strengths and weaknesses) and external environment (opportunities and threats) that Shanghai Tang is facing. Through the SWOT analysis, we came up with a recommendation to either defend or expand Shanghai Tang’s market position. Secondly, a product expansion grid was used to discuss the possible strategies Shanghai Tang can adopt for expansion. The product expansion grid was also used to determine business growth opportunities. It consists of four quadrants, each representing one strategy. The four strategies are Market Penetration Strategy, Market Development Strategy, Product Development Strategy and Diversification. The last section of...
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...superstars, despite experiencing massive successes with solo careers, have all opted to regroup, so to speak, hooking up with former band-mates to recreate music magic that is as worthy and sellable today as it was back in its heyday. Yes, EDM, hip-hop, rap and auto-tuned pop dominate the airwaves and I-Tunes playlists, and these genres generate massive record sales and concert and radio advertising revenues. But thanks to video games like Rock Band and Guitar Hero, plus a generation of parents who drove their kids to school and selected the in-car musical entertainment, boomer-parented children not only recognize names like Boston, Steely Dan, Foreigner and Deep Purple, they know the lyrics and the melodies and will gladly attend concerts by such retro acts - with their parents! “Oldies” have been re-birthed! I’m Much too Young to Feel this Damn Old Here’s a startling fact: the last of the baby-boomers turn 50 in 2014, and the implications of that fact hold significance...
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...Chapter 3 Analyzing the Marketing Environment 1) You are directed to study the actors close to the company that affect its ability to serve its customers-departments within the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. What are you studying? A) the macroenvironment B) the microenvironment C) the marketing environment D) the demographic environment E) the global environment Answer: B Diff: 1 Page Ref: 66 Skill: Concept Objective: 3-1 2) Which of the following terms is used to describe the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers? A) the marketing environment B) the cultural environment C) strategic planning D) target markets E) the marketing mix Answer: A Diff: 1 Page Ref: 66 Skill: Concept Objective: 3-1 3) You are directed to study the demographic, economic, natural, technological, political, and cultural factors that are larger societal forces affecting your company. What are you studying? A) the macroenvironment B) the microenvironment C) the external environment D) the marketing mix E) the global environment Answer: A Diff: 1 Page Ref: 66 Skill: Concept Objective: 3-1 4) Which of the following is NOT a type of factor in a company's macroenvironment? A) demographic B) economic C) technological D) competitive E) political Answer: D Diff: 1 Page Ref: 66 Skill:...
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...characterize HD’s primary challenge(s) as of the end of 2005? Stock prices dropped 17% due to lower forecasts, in spite of positive trending financials. Lower forecasts were due to growing saturation within their target market. Saturation was occurring due to fewer younger buyers replacing aging buyers. Fewer younger buyers was occurring because HD did not have a highly successful plan to win them over, noting pointed attempts with Buell and the V-Rod. Therefore: * their issues are not cyclical, but structural * their issues are not urgent in the sense that creditors will force bankruptcy in the immediate future * however, they must be addressed to maintain long-term strength as an organization * further, this is more of a strategic issue than it is tactical * and, HD may be approaching the upper limits of their current business model Stock analysts were seeing that HD stock was inflated as a strong working solution did not appear to be in place to address these issues. All things being equal, past performance did not appear to be sustainable. Q2 Deconstruct HD’s macro environment (PEST) and industry (Porter’s 5). Economic: Given that HD is a big ticket discretionary consumer luxury product, the strength of the economies in their principle markets is very important. An economic downturn would have a downward pressure on sales. Conversely, further economic growth would create a more positive revenue and profit picture. Given that, the primary economies in which...
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...1.INTRODUCTION 1.1 Brief Overview of Nestle Over the previous 130 years Nestle Company has been able to acquire great amount of knowledge of almost all the varied markets of the world since 1866. This is the reason why Nestle has been able to gain a leading position in the global food operations as it has factories operation in 77 countries and it is selling its gamut of products in all the six continents. The best part so Nestle is that it occupies the leading market shares along with a broad and diversified business portfolio in varied and many product categories which include nutrition and baby food, coffee, dairy products, ice creams, mineral water, confectionary, chocolate and pet food and many more. Nestle has been committed to provide top quality products and brands which are essential for good health for all age groups. That is why it incorporated nutritional elements in its vast array of product categories so that they can be promoted into the markets as high quality products and safe too (Raisch & Ferlic, 2006). In June 1997 Peter Brabeck –Letmathe was appointed the CEO of Nestle and the critical challenge in front of him was to enhance the profitability of the company which already had mature markets. A suite of process innovation initiatives were being launched by Brabeck so that financial means can be generated to be invested in growth initiates which would result in maximization of existing assets, maximise distribution logistics as well as enhance...
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...they have been complacent in maintaining their market, which paved the way for Fuji to encroach on their territories. Kodak has been on top of the market for so long that they did not expect a relative newcomer in the US market to succeed that much. Fuji has the advantage of capitalizing on the support of the Japanese government, as well as an almost monopoly in Japan, which is why Fuji can afford to lower prices in the United States market. Right now Kodak is faced with two main dilemmas, one its competition with Fuji that will become more pronounced since they both plan to enter the lucrative Chinese market, and the bigger problem that is its struggle to stay relevant despite the advent of the digital cameras. By 1998 Kodak was suffering relatively constant declining sales. The only thing that saved them financially that year so they could post a positive net income was the layoff of more than 16,000 employees. This is referenced in the financials by cutting the SG&A Expense by nearly half as compared to that of a year ago. It is mentioned in the article and unclear if the cut in SG&A also was a result of cutting marketing. If that occurred, then as mentioned in the case, it was a business mistake. The second problem with Kodak's is that it has been the industry leader for so long that it developed a collective mindset of invincibility. They did not keep strong tabs of their competitors and if they do notice changes in the market, they do not act swiftly on it. If a leading...
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...The Elderly Greene, J. (2013, August). The Denver Hospice. H&HN: Hospital &Health Networks, 87(8), 37-38. This article is about how the Denver hospice has won a lucrative award 2013 Circle of Life Award. What allowed the Denver hospice win this award was there unique program that they come up with in dealing with palliative care. Palliative care is an up and coming method of health care that deals with easing of pain for any stage of someone’s disease. Hospice care only deals with patients in the final stages of their disease. The Denver hospice is leading the way by branching out and developing a palliative care program to service more people than just standard hospice alone. The Denver Hospice's fearless culture of innovation has produced partnerships that bring hospice and palliative services to a wide variety of people who might not otherwise have access to them (Greene). Palliative care is a difficult item to get funding for. No one wants to fund the final minutes of a person’s life. Although, Denver Hospice has a reputation of never turning anyone away, they will treat whoever is in need. Denver Hospice works with many different groups to try to cater to the clientele as well as get funding. The Veterans Administration has worked with the Denver Hospice to identify special needs of veterans, who make up 31 percent of the hospice's patients (Greene). Many of which may have seen combat or had to endure something that which has made care now that much more...
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...Chapter 1 Marketing: Creating and Capturing Customer Value 1) All of the following are accurate descriptions of modern marketing, EXCEPT which one? A) Marketing is the creation of value for customers. B) Marketing is managing profitable customer relationships. C) Selling and advertising are synonymous with marketing. D) Marketing involves satisfying customers' needs. E) Marketing is used by for-profit and not-for-profit organizations. Answer: C 2) According to the opening scenario, the Mannai Automotive marketing team is MOST concerned about which of the following? A) maintaining its brand share B) proactively following up prospects C) advertising their product's benefits D) comparing the effectiveness of their product to other brands E) incorporating consumer-generated marketing in the marketing mix Answer: B 3) ________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation and exchange. A) Selling B) Advertising C) Bartering D) Marketing E) Negotiating Answer: D 4) Which steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships? A) the first two only B) the first three only C) the first four only D) the last three only E) the last four only Answer: C 5) According to the simple five-step model of the marketing process, a company needs to ________ before designing...
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...ageism, lookism, and cultural. All of the literature used in this research project agrees that the current culture and norms of our society must change. Even though it is starting to change in some areas, it is not changing at a fast enough rates to stop discrimination from happing to the older worker. Most of the article and books talk about the challenges that management has dealing with the processes of dealing with age diversity in the work place. The literature that touched on most areas that were discussed in this research project was the works by Dr. Emma Parry and Shaun Tyson. Organization Age by Stephen Fineman was brief and concise in his areas that touched on the great recession and the losses that were suffered in the stock market. Trying to find peer reviewed literature on this subject was difficult, but not impossible. Introduction In the natural progression of life and the workforce, you get a good job, or you may change jobs for a better paying job along the way, but in the end you work raise a family and after thirty or so years with a nice little nest egg tucked away if you’re lucky you retired and live a...
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...is conceived that each member of Delta Group will personally align with the labors of research and planning intrinsic to the creation of new products. Each member of Delta Group expects to gain valuable exposure to the practices of localizing and assimilating various market planning data; all the while anticipating, acknowledging and understanding the challenge of familiarizing themselves with real-world experiences of collaboration in a virtual group environment within the field of marketing. Sonic 1000 PDA Marketing Analysis Introduction Sonic is proposing to launch a new product – the Sonic 1000 PDA. In this report, we will attempt to examine and analyze the current research in the market for this product. It will also provide a review of current markets and possible market segments that the company is interested in pursuing. Through experiential collaboration, we should gain needed insight into the potential quandaries that are mutually shared by many of today’s marketing managers with regard to this particular market. This report will allow for examination and assimilation of various market planning data and decision making processes in launching the Sonic 1000 PDA into the various planned markets. We can compete with both PDAs and smart...
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...Mudra Institute of Communication, Ahmadabad | LGBT Marketing | Innovative Marketing – Individual assignment | Ranajay sengupta | 18054 | 8/25/2012 | Contents Why gay market is lucrative 2 LGBT as a customer segment 3 Over-indexing and Consumption 3 Entertainment 3 Travel and Leisure 3 Internet usage 3 Brand Loyalty 4 LGBT signs and symbols 5 Segments which have used LGBT marketing 6 Lifestyle of a typical LGBT consumer 6 Mistakes to avoid while marketing to the LGBT community 7 References 9 Decades after invisibility and reaching critical mass, a breakthrough July 1991 article in the conservative Wall Street Journal called the lesbian and gay community "a dream market." Today the American market is estimated to be valued at $660 billion, projected to reach $835 billion by 2011 --based primarily on U.S. population growth and steady 7% representation of gays and lesbians within the overall population. In 2004, 36% of Fortune 100 companies have advertised directly to the lesbian and gay market, and American corporations now spend about $223.3 million annually in gay print media, according to the 2006 Gay Press Report from Rivendell Marketing and Prime Access, which tracks 284 U.S. gay press publications. Much more has been spent in sponsorships and online advertising, which the survey does not track. The situation is fast changing in India as well, OutNowConsulting.com, The London-based consultancy firm has been conducting surveys across...
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...their lives which take significant proportion of the available time. For instance in 1997 it was established that 25 hours a week were devoted to childcare, housework or shopping by mothers in dual earner couples by Robinson, J.P. and Godbey, G. in their book Time for Life.: The Surprising Way American Use Their Time. For fathers the figure was 14.5 hours. This in turn forced people to use their working time for personal agendas. In fact Circles, 2001 revealed that 75%of employees take care of personal responsibilities while on the job. Further it was also established that employees spend an average of 1.86 hours per eight-hour workday on something other than their jobs, not including lunch and scheduled breaks. On the other hand with baby boomers getting to the late stages of their lives the whole world is experiencing the issue of ageing population. This elderly community becomes another customer segment of the Errands Service businesses as they need the assistance of somebody else but hate becoming a burden to their friends and relatives. As a result, today, there are many people who are more than glad to pay for someone who offers them these errand services. This has paved the way to a sudden emergence of a whole range of new opportunities which has turned this service industry a multi million dollar business. An errand or concierge service is therefore a business which acts the role of a personal assistant running errands for people who...
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...located on Ginza Street in Tokyo. Japan has been a huge market for launching a new luxury product due to their economic situation and Japanese personality. Moreover, Japanese Kawaii culture reflects a huge potential for character industry. Actualizers group from VALS (values and lifestyles) model will be selected as the target market for these limited edition products according to their characteristics. For these new products, indirect marketing strategy: PPL (Product Placement) which is to release the products on movie screens will be implemented. Through these collaboration luxury handbags, Disney can improve their character images whilst capitalizing on the Chanel luxury brand image, thus resulting in a win-win situation for both parties. Our mission statement is to provide an extraordinary experience to the Chanel customers with exceptional taste. The values and principles which our business stands by are strong partnership with vendors, bringing added value distribution, trustful cooperation with customers, providing individual approach, professional team, driven to achieve the target. 2.0 Business and Industry Profile Chanel handbags are in the category of luxury goods, specifically luxury leather goods, thus its market and industry falls under luxury goods. Although the product for this proposal specifies handbags as the main product, it is difficult to gather specific market information of luxury handbags, thus market...
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...Management Human Capital & Entrepreneurship Business Plan GOZDESI SPECIAL EVENT PLANNING & MANAGEMENT Muhammed Furkan YILDIZ Student Number: C0176KEKE1113 Lecturers : David Hall & Rajendra Kumar Date: 18.02.2014 TABLE OF CONTENTS 1. ExecutiveSummary.....................................................................................................................3 2. BusnessDescription....................................................................................................................3 3. Vision and Mission Statement....................................................................................................4 4. Content of the Business.............................................................................................................4 5. Main Partners.............................................................................................................................5 6. Business Opportunities...............................................................................................................5 7.1. Industry Analysis..........................................................................................................................6 7.2. Location Analysis..........................................................................................................................6 7. Finance...........................................................................
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