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
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** Explain the ethical issues a business needs to consider in its operational activities. BUSINESS ETHICS: - is the application of ethical values (the standards that are set by a business or individuals that control their behaviour) to business behaviour. - apply to: all aspects of business conduct, all levels of the organization, all activities that affects stakeholders and the organization as a whole. P1 ETHICAL ISSUES: 1. Corporate governance and corporate social responsibility Corporate
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business are we in? * What customers should we serve? * How should we develop the company’s capabilities? Example: Disney – Product, “we run theme parks”. Market, “we create fantasies” Understanding external influences (e.g. consumerism, environmentalism) and Environmental Influences SWOT: (Micro) Understanding the marketing environment - used to evaluate a companies (S) strengths, (W) weaknesses, (O) opportunities, and (T) threats. PEST: (Macro) analysis of external environment that can affect
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gets to improve. The marketing processes which can helps company to have a more understanding about the market are going to discuss in this report. Besides, benefit and cost of adopting a marketing orientation and the marketing environment which influence the marketing decisions are also included in this report too. Other than that, the segmentation criteria of the company are also suggested in this report. We will know about the targeting strategy and buyer behavior from this report after our analysis
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Index Executive Summary ............................................................................................................... 2 Introduction ....................................................................................................................... 2 - 3 Market Analysis ................................................................................................................ 3 - 7 Target Market Analysis .............................................................
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describe their products exactly as they are. This is to avoid any claims from any customers. Consumer protection from unfair trading regulations 2008 This act means that Apple has to treat their customers fairly and honestly. They can’t use aggressive sales tactics or use dishonest promotions. This affects Apple because they have to approach customers in the same ways and not be dishonest. Consumer Law Apple needs to make sure that their marketing activities are within the Law. Apple also has
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1. ABSTRACT Consumer behavior refers to a discipline dealing with how and why consumers purchase (or do not purchase) goods and services (Schiffman, 2011). I did the qualitative analysis for this research. This report expounds an interview of two consumers who purchased 5D Mark II recently, and sorts the answers into five decision-making process steps (Problem recognition; search for information; evaluation of alternatives; outlet selection and product purchase; post purchase processes including
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changed completely now, consumers are more empowered and well informed by digital connection than ever before. The modern Omni-channel shopper was always connected with mobile or internet. They can get the latest information, update about their choices, find the best deals and expects to receive purchase on their preferred time and place. Their journey cuts across different channel, including brick and mortal, online, mobile and social media that can influence the sales and consumer decisions. Due to the
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Executive Summery Marketing principles influences largely on the activities of a business firm. The marketing principles focus on the key principles, functions and practices. These help the business firm or a company to compete effectively in the market in the ever changing trend to ensure profitability and growth. Through market research and analysis, the market is being categorized according to the business need. The marketing environment influences the business activities. Market segmentation
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