Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

An LLC is not a corporation; it is a legal form of company hat provides limited liability to its owners in the vast majority of United States jurisdictions. All’s do not need to be organized for profit. [citation needed] Certain types of businesses that provide professional services requiring a state professional license, such as legal or medical services, may not form an LLC but use a very similar form called a Professional Limited Liability Company (PILL).

A Limited Liability Company (LLC) is a hybrid business entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many winners there are). An LLC, although a business entity, is a type of unincorporated association and is not a corporation. The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation.

It is often more flexible than a corporation, and it is well-suited for companies with a single owner. With Lou and Jose being a LLC they are essentially separating their personal assets from their business assets and if the business were to fail and not thrive only those sets obtained through the business and monies generated by the business can be used to satisfy a legal order of the courts. As a LLC there is no control issues within the organization because; the owners has all the authority. For U. S. Federal income tax purposes, an LLC is treated by default as a pass-through entity.

If there is only one member in the company, the LLC is treated as a “disregarded entity’ for tax purposes, and an individual owner would report the All’s income or loss on Schedule C of his or her individual tax return. Thus, income from the LLC is taxed at the individual tax rates. The default tax status for LLC with multiple members is as a partnership, which is required to report income and loss on IRS Form 1065. Liability issues concerning an LLC are sanctioned and separate which means the LLC assumes all the risk not the individual owners.

Lou and Jose must obtain a liquor license in the city and state of operations as well as compliance with statues concerning commercial business owners. All’s must be compliant with the EBB Better Business Bureau. Frank the wealthy investor wants to open up a chain of exterminating businesses across the United States would be served best a an Cooperative or (Coop). A cooperative (“coop”) or co-operative (“co-pop”) is an autonomous association of persons who voluntarily cooperate for their mutual, social, economic, and cultural benefit.

Since Frank is endeavored into the field of exterminating; he must find like mind individuals to buy into his business plan. Frank would want to Join in the process of expanding the philosophy and getting others to buy in and new offices being setup nationwide because of demand for the service increasing. Control with a coop is shared and everyone has an equal voice in the decision making process. A cooperative is a business that is owned, financed, and controlled by the people, who use its services. Earnings are allocated and distributed to members based on patronage, rather than to investors based on equity.

The Internal Revenue Code (Code) recognizes the pass-through nature of a cooperative by providing for the single Federal income taxation of earnings generated on business conducted on a cooperative basis. First, cooperatives pay the special taxes assessed all businesses. These include real estate and personal property taxes, sales taxes, employment taxes to finance social security, unemployment compensation and workers’ compensation benefits), gasoline and diesel fuel taxes, license fees, motor vehicle registration fees, and excise taxes on utility services.

Second, cooperatives and their owners pay a single income tax on margins, usually at the owner level. This is the same tax treatment applied to most U. S. Businesses. Shareholders of a cooperative enjoy limited liability for the debts and obligations of the business, including liability for the unlawful acts of other shareholders and employees. The laws and regulations operatives have to be in accordance with are(l) Filing Articles of Incorporation(2) Creating Bylaws(3)Creating Memberships(4) Conducting Charter Meetings and electing Directors and finally obtaining licenses and permits to conduct business.

Cooperatives have regulations and rules involving operations in accordance to The Cooperative Act of 1999. The Preamble states, An Act to provide for the formation and transformation of cooperatives as self-reliant, self-help, mutual-aid, autonomous, voluntary, democratic, business enterprises, owned, managed and controlled by embers for their economic and social betterment, through the financially gainful provision of core services which fulfill a common need felt by them, and for the matters connected therewith or incidental thereto.

Kava and Tara two recent grads in the field of obstetrics want to open a medical practice together. They plan on taking out a large loan to finance the start-up cost and finding a location. The entity the best serves their purpose would be a partnership. A partnership is an arrangement in which parties agree to cooperate to advance their mutual interests. The supplies and equipment needed to efficiently run a medical practice would be mutual in the purchasing aspect along with staffing. As far as taxation governmentally recognized partnerships may enjoy special benefits in tax policies.

Among developed countries, for example, business partnerships are often favored over corporations in taxation policy, since dividend taxes only occur on profits before they are distributed to the partners. Liability issues like malpractice are a concern and therefore should strongly be considered. Keep in mind that general partnerships offer no liability protection to the owners. The owners are legally considered the same as the business, and personal assets can therefore be considered business assets.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

The company also remained armorial production oriented that is, the Swedish management and design group decided what it was going to sell and then presented it to the worldwide public- often with very little research as to what the public actually wanted. Moreover, the company emphasized its Swedish roots in its international advertising, even going as far to insist on a Swedish blue and while color scheme for its stores. Despite breaking some key rules of international retailing, the formula of selling Swedish designed products in the same manager everywhere seemed to work.

Between 1974 1994 KEA expanded from a company with 10 stores, only 1 of which was located outside Scandinavia, and annual revenues of 210 million to a group with 125 stores in 26 countries and sales of close to 5 billion. In 1994, only 11 of its sales were generated in Sweden. Of the balance, 29. 6 came from Germany, 42. 5 from the rest of Western Europe, and 14. 2 from North America. KEAS expansion in North America was its most recent international venture. The foundation of KEAS success has been to offer consumers good value of money.

KEAS approach starts with a global network of appliers, which now numbers 2,700 firms in 67 countries. An KEA supplier gains long-term contracts, technical advice, and leased equipment from the company. In return KEA demands an exclusive contract and low prices. KEAS designers work closely with suppliers to build savings into the products from the outset by designing products that can be produced at low cost. KEA displays its enormous range of more than 10,000 products in cheap out-of-town stores. It sells most of its furniture as kits for customers to take home and assemble themselves.

The firm reaps huge economies of scale from the size of each store and the big production runs made possible by selling the same products all over the world. This strategy allows KEA to match its rivals on quality, while undercutting them by up to 3. 0 on price and still maintaining a healthy after-tax return on sales of around 7. This strategy worked well until 1985 when KEA decided to enter the North American market. Between 1985-1990 KEA opened six stores in North America, but unlike the company’s experience across Europe, the stores did not quickly become profitable.

Instead, by 990, it was clear that KEAS North American operations were in trouble. Part of the problem was an adverse movement in exchange rates. In 1985 the exchange rate was 1 5. 8 Swedish kronor by 1990 it was 1 8. 6 Swedish kronor. At this exchange rate, many products imported from Sweden did not look inexpensive to American consumers. But there was more to KEAS problems than exchange rates. KEAS unapologetically Swedish products, which had sold so well across Europe, Jarred with American tastes and sometimes physiques. Swedish beds were narrow and measured in centimeters.

KEA did not sell the matching bedroom suites that Americans liked. Its kitchen cupboards were too narrow for the large dinner plates needed to pizza. Its glasses were too small for a national that adds ice to everything. And the drawers in KEAS bedroom chests were too shallow for American consumers who tend to store sweaters in them. In 1990, the company’s top management realized that if it was going to succeed in North America, it would have to customize its product offering to North American tastes. The company set about redesigning is product range.

The drawers on bedroom chests were designed to be 2 inches deepened sales immediately increased by 30 to 40. KEA now sells American style king and queen size beds, measured in inches, and it sells them as part of complete bedroom suites. Currently it is redesigning its kitchen furniture and kitchenware to better appeal to American tastes. The company has also boosted the amount of products being sourced locally form 15 in 1990 to 45 in 1994, a move that make the company less vulnerable to exchange rates. This break with KEAS traditional strategy has paid off.

Between 1990 1994 KEAS North American sales have tripled to 480 million, and the company claims it has been making a profit in North America since early 1993. By 1994 the company had also expanded the number of American stores to 15. Questions What strategy was KEA pursuing as it expanded throughout Europe during the sass and early sass multiplicities strategy, global strategy, or international strategy Why do you think this strategy did not work as well in North America as it did in Europe.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

Net neutrality basically means that Internet service providers and governments should treat all data on the Internet equally. Treating the Internet equally means to not discriminate or charge differentially by user, content, site, platform, application, type of attached equipment, and modes of communication. Another accepted term for net neutrality is “open internet” where you can use your internet connection for anything you wish at no additional charge and with no restrictions-?this would be a net neutral environment.

A “closed internet” is a situation where corporations can restrict what you see over an internet connection and charge for it. Regarding net neutrality in the United States, the FCC has laid out a series of rules and guidelines to follow. The four principles include accessing the lawful Internet content of their choice, running applications and use services of their choice, subject to the needs of law enforcement, connecting their choice of legal devices that do not harm the network, and competition among network providers, application and service providers, and content providers.

This is the current law for the United States. Although some are for net neutrality, there are many users against it. A big concern in regards to net neutrality is a concern for privacy. Users think that Sips may have profit motives to analyze what their subscribers are viewing, and be able to use such information to their financial advantage. Innovation and Investment is another argument. Telecommunications providers such as telephone and cable companies, and some technology companies that supply networking gear, argue telecoms providers should have the ability to provide preferential treatment in the form of aired services.

A third argument is user welfare. Some opponents of net neutrality argue that under the ISP market competition, paid-pronunciation of bandwidth can induce optimal user welfare. Although net neutrality might protect user welfare when the market lacks competition, they argue that a better alternative could be to introduce a neutral public option to incentive competition; as oppose to enforcing existing Sips to be neutral. Another argument is counterweight to server-side non- neutrality.

Those in favor of forms of “non-neutral” tiered Internet access argue that he Internet is not fair to users. Bandwidth ability is another argument. Users argue that net neutrality would prevent broadband networks from being built, which would limit available bandwidth and also endanger innovation. A last argument is opposition to legislation. Poor legislation could make it difficult for Internet service providers to legally perform necessary and generally useful packet filtering such as combating denial of service attacks and other aspects.

As far as arguments for net neutrality, one reason is control of data. Supporters of network neutrality want to signage cable companies as common carriers, which would require them to allow Internet service providers (Sips) free access to cable lines, the model used for dial-up Internet. Another argument is digital rights and freedom. Some users argue that net neutrality ensures that the Internet remains a free and open technology. Another argument is competition and innovation.

Proponents of net neutrality argue that allowing for preferential treatment of Internet traffic would put newer online companies at a disadvantage and slow innovation in online services. Preservation Internet standers is another argument. Users for net neutrality have sponsored legislation claiming that authorizing incumbent network providers to override transport and application layer separation on the Internet would signal the decline of fundamental Internet standards and international consensus authority. Preventing pseudo-services is another argument for net neutrality.

Users argue that any violations to network neutrality will not involve genuine investment but rather payoffs for unnecessary and dubious services; they believe that it is unlikely that new investment will be made to lay special networks for particular websites to reach end- users faster. A last argument for net neutrality is end-to-end principle. Users in favor argue that network intelligence doesn’t relieve end systems of the requirement to check inbound data for errors and to rate-limit the sender or for a wholesale removal of “intelligence” from the network core.

In my opinion, I am for net neutrality. I believe the government as well as Internet service providers should treat all Internet users equally. I do not think it is fair for a service provider to customize certain web ages to make it appeal to the user based off of the sites the user has visited. Even when I am using the Internet, I do not like when options on my sidebar or random ads pop up Just because I visited a certain site that is similar to the ads that appear.

It also is a little bit eerie to me when I see ads that are similar to the sites I have seen. I should be able to visit whatever site I want to visit without having some pop up ad trying to steer me to a different site that is alike. Although I am for net neutrality, I do understand the reasoning behind users who are against net neutrality. As far as intention and innovation, I understand that net neutrality would be considered an unfair business model.

I think it is a positive that businesses want to strive to the top and offer more components and options to buyers. But I think it is taking it too far when businesses get to the top by controlling out Internet, so to speak. Internet users should be able to view sites without having to worry about the Internet taking your information from search engines and using it to their advantage. I see both sides of the argument, but I believe there is more information to back up people who are for net neutrality. (1 ,002 words)

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

A specially made terra cotta container is lined with a single large section of a banana leaf. It is placed over preheated coals and the rice flour and water mixture is poured into it, taking care not to spill it into the container itself. Another ice of banana leaf is added to the top and covered with more preheated coals. This Marketing Plan gives the details involved in the new launch of the brand “Booing’s”, that will offer a unique baaing experience to the general market scene. We aim to achieve a wide share for our uniquely-topped baaing products.

And build a competitive company and soon be the primary and leading business in the market. The company’s mission Provide the best tasting native delicacy with a rare twist in the market, and to show our admiration for the taste of our culture with every bite you will have. And its vision is to become the most winning baaing brand on the market that will satisfy the needs and cravings of each and every consumer. To offer the market new variations of the Baaing, Booing’s is here. Booing’s offers the market wide varieties of toppings for Baaing.

From fresh fruits, chocolates, fillings and veggies that will surely be loved by customers. The company knows that customers are already fond of eating baaing that’s why they give this Filipino delicacy a new twist. As the name suggest, Booing’s offers a wide variety of Baaing with Toppings, the 1st in the market. With its affordable price and delectable taste, costumers will surely be back. They will choose their own toppings, Do-let-Yourself Baaing. SAMPLE VARIETIES AND FLAVORS Baaing ala Pizza A Filipino classic this sweet cake is tremendously easy to make and disproportionately tasty.

Think sweet, buttery cornbread with Just a bit of cheese. Very light with a smooth crumb. This recipe has been simplified from the traditional preparation methods which call for wrapping in banana leaves. For the toppings we put, grated cheese, slices of title an Malta and coconut. Baaing Nutshell Instead of mixing rice flour, baking powder, and salt and figuring out the perfect balance of the three, we will use self rising flour that already has baking powder and salt in it. For the flavor of rice, I used rice milk. Nowadays, most grocery stores carry rice milk.

You can find it in the same section with soy milk and almond milk. And for the flavor, we go for nutshell mix with cocoa powder. Baaing White Chocolate with Almonds A baaing inspired cupcake coated with white chocolate and almond at the top of it! Naughty Nuts Baaing Baaing cupcake filled with peanut and cashew nuts. Decorated by icing cakes that o will surely love. It is to Just your ordinary baaing dessert, this is Just beyond desert. You can also prepare it for parties and other occasions to be a part of the menu. Baaing ala Mango Baaing pie filled with mango toppings.

No need to be conscious about burning your baaing because mango can do the right cook for you. Mango toppings prevent burning the top of the pie. So you can have your Baaing Mango Royals so delicious and cook Just right. Baaing Pie We usually see baaing as a single small cupcake like desert so we came up with this Baaing made large good for five or more people. So you can avoid being “biting” with this big one. You can also share this without compromising your share! Cheesy Baaing This is large baaing made with a lot of cheese.

Baaing sour cream and onion Baaing Pastel l. SOOT ANALYSIS STRENGTHS New taste and twist for baaing. Affordable price yet incredible taste. Our product has the ability to innovate in continuous basis. Filipino cultured product. Different flavors and wide varieties to choose from. WEAKNESS Lack of brand awareness. Many existing competitors. Poor distribution. Limited resources in creating an impacting image in the market. New in the market and smaller in comparison. OPPORTUNITIES Wide market potential. Few competitors rather than other product line. Franchising.

International Opportunities THREATS Well established competitors. Colonial Mentality among Filipinos. Competition Duplication. Health II. MARKETING OBJECTIVES The objective of this Marketing Plan is to create brand awareness of the newly established business, Booing’s. Create brand image and experience as well. Stimulate buying behavior among customers and to increase sales of Booing’s. Ill. MARKET STRATEGY Booing’s is for all. Can be eaten by all. Families, Peers, Friends. We have created strategies that will target each and every market we cater.

From Barbuda pack, to box to school and combo meal. Our target market is usually groups, as they can stimulate the buying process and cycle of Booing’s. And we all know that if this people buy our products, they purchase dozens of dozens. ‘V. STRATEGIES Personal selling Personal selling is a strategy that salesperson uses to convince customers to purchase a product by selling the product after meeting face-to-face with the customer. The salesperson uses a personalized approach to meet the individual deeds of the customers by demonstrating the ways that the product will benefit them.

The customer is given the opportunity to ask questions, and the salesperson addresses any concerns he has about the product. The BOOING’S promotes product through attitude, appearance and specialist product knowledge. The aims are to inform and encourage the customers to buy, or at least try the product through their curiosity. Advertising Booing’s website Website is a place on the World Wide Web that contains information about a person, organization, etc. , containing hyperlinks to each other and made available inline by an individual, company, educational, institution, government, or organization.

Booing’s will advertise through its website. Its website will contain different information about Booing’s, together with its different toppings, how can people avail the product and where they can avail it. Booing’s Website will not only give information about its product, but also give different information that will get the attention of the people who will see the website. Booing’s website will provide different information regarding the latest weather, the latest trend and efferent healthy foods that best suits food-conscious people.

The group decided to include these different information in our website to connect with the people’s interest. Booing’s Faceable Page and Twitter Account Since we are in a period or era where technology really advances, people are being attached to different social media. Social Media helps us to communicate with people all around the world. When we are using the internet, we face not only our friends, relatives, family, nor our countrymen, but we are facing the world. We are being connected to the world when we use the Internet and the social media.

The famous social media sites nowadays which lots of people have this are twitter and faceable. Nettings are active and uses these sites. It is where they express their feelings, thoughts, stories, ideas, etc. It is where they connect and communicate with others. Just like those who wants to connect with the world, Booing’s also wants to connect with the world. Booing’s will have Faceable Page and Twitter Account. Booing’s Faceable Page will provide different information’s about our product. We will also post different tasteful photos of Booing’s.

Also in our Twitter Account, we re open to those people who wants to twit us of what toppings they want in our banging’s. Booing’s Faceable Page and Twitter account will also serve as our advertising media. By this, we can promote our products free and will be able to connect with our target market. Booing’s provides baaing products with different toppings. People are open to share us their own mixes of toppings. Customers can customize their own toppings. So let us all share and twit us your Rice Cake toppings in our Top-Banning Faceable Page and Twitter Account! Print Publications Advertising

Print publications such as magazines, newspapers and Special Issue publications offer advertising opportunities at all geographic levels. Binghamton will advertise our products through print magazines, newspapers especially in food magazines or menu sections, this way customers or prospected customers can be aware about our business which is Baaing with a twist. Direct Mail Advertising This method of advertising uses postal and other delivery services to ship advertising materials, including postcards, letters, brochures, catalogs and flyers, to a physical address of targeted customers.

Direct mail is most effective when it is designed in a way that makes it appear to be special to the customer. Binghamton will have a flyers and brochure letters that will be distributed to the residence living around the vicinity of our business. This aims to increase the awareness of the people living in the area near the business location. Signage and Billboard Advertising The use of signs to communicate a marketer’s message places advertising in geographically identified areas in order to capture customer attention. The most obvious method of using signs is through billboards, which are generally located in gig traffic areas.

Outdoor billboards come in many sizes, though the most well- known are large structures located near transportation points intending to attract the interest of people traveling on roads or public transportation. Indoor billboards are often smaller than outdoor billboards and are designed to attract the attention of foot traffic (I. E. , those moving past the sign. Binghamton will have a signage outside the vicinity of the store. A signage that could attract the attention of possible customer or by passers that will entice them to visit the store.

Another one is the transportation advertising wherein Binghamton will have a sticker that will be put in tricycles, public utility vehicles etc. That will serve as a walking advertisement of the Binghamton. Product Placement Advertising Product placement is an advertising approach that intentionally inserts products into entertainment programs such as movies, TV programs and video games. Placement can take several forms including: visual imagery in which the product appears within the entertainment program actual product use by an actor in the program words spoken by an actor that include the product name

Product placement is gaining acceptance among a growing number of marketers for two main reasons. First, in most cases the placement is subtle so as not to divert significant attention from the main content of the program or media outlet. This approach may lead the audience to believe the product was selected for inclusion by program producers and not by the marketer. This may heighten the credibility of the product in the minds of the audience since their perception, whether accurate or not, is that product was selected by an unbiased third-party. Binghamton will offer pensioners to any TV shows in exchange of publicity and promotions.

Like for example, sponsoring in ASAP or other cooking or business related shows. Sponsorship Advertising A subtle method of advertising is an approach in which marketers pay, or offer resources and services, for the purpose of being seen as a supporter of an organization’s event, program or product offering. Sponsorships are intended not to be viewed a blatant advertisement and in this way may be appealing for marketers looking to establish credibility with a particular target market. However, many pensioners options lack the ability to tie spending directly to customer response.

Additionally, the visibility of the sponsorship may be limited to relatively small mentions especially if the marketer is sharing sponsorship with many other organizations. Binghamton will of offer sponsorship especially school events like school programs, seminars or party events. Binghamton will provide a free Binghamton product for the host of the program and a kiosk or cart for students who want to buy Binghamton product. Pittston unlit Battling Filipinos are fond of eating, the reason why most of eat-all-you-can business became successful.

Booing’s will offer the market Unlit Baaing between loam-I pm. Shoot, Share and Win! Booing’s A Sales Promo wherein using only your phone, take a picture of your booing’s. Upload it and share the most attractive photo will win booing’s and other surprises! Free Taste and Sample Since Booing’s is new in the market, we will conduct some sale promotional strategies in order to promote an increase in sales and to make the public aware of the new product. Booing’s BARBUDA PACK with a FREE DRINK Promotional Tools: Advertising, Sales Promotion, Publicity Objective:

To increase sales of our featured promotional products for the month of September, October and November. Message: There will never be dull moments when you are with your friends. Share the Barbuda Pack with DRINK of Booing’s with your friends. Barbuda Pack with DRINK is a special promo of Booing’s for you and your friends. It will run from September, October and November in the first year of the business. This Barbuda Pack with DRINK is a giant baaing with toppings that will surely be enjoyed by you and your friends with a free drink. A giant baaing with toppings good for 6 people with a free 1 .

L Coke would be loved by you and your friends. Eat it with your friends while sharing your stories and moments with them. Enjoy it. Love it! Duration: These limited edition Pittston BARBUDA PACK with a FREE DRINK will run only from September 1 to November 30 of the first year of the business . You can have this for your Barbuda trips, gimmicks, parties, etc. While chatting with your friends. Expected outcome: Increase sales and awareness on our featured product, the Booing’s BARBUDA PACK with a FREE DRINK. Booing’s Corporate Social Responsibility Outlook At Bagging Project

As a part of our Corporate Social Responsibility, We, booing’s came up to an idea of extending our hands to help small communities in Northern Luzon especially our Filipino rice farmers. We named our project TAP (Outlook At Bagging), this project aims to lessen their struggles by donating tools and supplies that they’ll be needed in farming. This project will be implemented through the help of our consumer. Once they buy one piece of Booing’s product, 50 cents of our sale will go to our budget in buying tools and supplies. We choose to help our cabanas because they are the one who supply our main ingredients which is rice.

Bring Back the Blessings project Sharing the blessings that we received is one of the practices that we Filipino are known for. In relation with this, Booing’s create a project EBB or Bring Back the Blessings project, this aims to fill the empty stomach of street children scattered in our community. We will give one box of Booing’s per one family on Christmas Eve. There are certain places that will be targeted by our team in distributing this box of Booing’s. We want to make them feel that there are still reasons to smile on the day of Christmas. Title: Free Bite-sized Booing’s Promotional Tool:

Sales Promotion Objectives: To create brand awareness of our product in the market. Free Samples for everyone! Producing a bite sized booing’s and give it for free as a part of introducing are new product in the market. We’ll give one booing’s per one person in our outlet on the first day of our operation. Bite sized booing’s will be put in a cup and be distributed by our staff on January 2, from 11 am to 8 pm on our outlet as we make our grand launching. Expected Outcome: Brand awareness, creating instant demand on our booing’s and acquiring new customer might be some effects of this strategy.

Title: Wickedly Fun Halloween Baaing Cupcakes Create a creepy baaing cupcake creation that is sure to dazzle your Halloween party guests by decorating baaing cupcakes. Our Halloween baaing cupcake monsters, black cats, witches, and ghosts are all magic to make and decorate! This promotion aims to increase sales and at the same time creating and increasing the awareness of our customer These limited edition Halloween baaing cupcakes will run only from November 1-15. You can have this for trick or treat or Just an additional flavor for your Halloween party foods or dishes. Box to school

The back to school season is fast-approaching, and taking advantage of the spending boom with creative social campaigns can help your business achieve social success. Sometimes students doesn’t have any time to eat due to hectic and stressing schedule as well as parents who doesn’t have any time to prepare food for their children, so we proposed to have a back to school Binghamton boon pack Just for them. This is a limited only specialty of Binghamton which will be offered only on the month of June 2016. So grab a box of our Special back to school Binghamton! Share it with friends, classmates or teachers or simply grab a bite while on the go!

This promo aims to increase the sales and also increase product awareness among students and parents. Everyday is Mother’s Day Baaing! ” Promotional tools: To increase sales of our product and provide value to all the mothers. Producing a customized baaing cupcake for mother’s day with a special message on its wrapper dedicated in all the mothers out there. These limited edition customized baaing cupcakes will run only from Mall-1 5. Increase sales and awareness on our featured mother’s day baaing cupcake. “Best Dad Ever Baaing Cupcake! ” To increase sales of our product and provide value to all the fathers.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

A promotional mix is the term used to describe a business’s total marketing communications program. KEY POINTS communications program. It specifies how much attention to pay to each of the five promotion subcategories, and how much money to budget for each. Advertising – Presentation and promotion of ideas, goods, or services by an identified sponsor. Personal selling – A process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an relationships.

Sales promotion – Media and non-media racketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability. Public relations (Publicity) – Paid intimate stimulation of supply for a product, service, or business unit by planting significant news about it or a favorable presentation of it in the media. Direct Marketing is a channel-agnostic form of advertising that allows businesses and nonprofits to communicate straight to the customer.

Corporate image may also be considered as the sixth aspect of promotion mix. The Image of an organization is a crucial point in marketing. If the reputation of a company is bad, consumers are less willing to buy a product from this company as they would have been, if the company had a good image. Sponsorship is sometimes added as an seventh aspect. TERMS Promotion advancement of an employee’s rank or position in an organizational hierarchy system. Marketing promotion, distribution and selling of a product or service; includes market research and advertising. dvertisingcommunication whose purpose is to influence potential customers about products and services. Sponsorship aid or support provided by a sponsor; backing or patronage. Valetudinarianism or other activity designed to rouse public interest in something. Direct Americanization that reaches customers by communications directly addressed to the customer. EXAMPLES Examples of advertising include: Print ads, radio, television, billboard, direct mail, brochures and catalogs, signs, in-store displays, posters, motion pictures, Web pages, banner ads, and emails. Always in Paid Form non personal) Examples of personal selling include: Sales presentations, sales meetings, sales training and incentive programs for intermediary salespeople, samples, and telemarketing. Can be face-to-face or via telephone. Examples of sales promotion include: Coupons, sweepstakes, contests, product samples, rebates, tie-ins, self-liquidating premiums, trade shows, trade-ins, and exhibitions. Examples of publicity include: Newspaper and magazine articles/reports, TV’s and radio presentations, charitable contributions, speeches, issue advertising, and seminars.

Direct marketing includes advertising techniques such as mobile messaging, email, interactive consumer websites, online display ads, fliers, catalog distribution, promotional letters, and outdoor advertising. Give us feedback on this content: Edit this content directly A promotional mix is the term used to describe a business’s total marketing promotion subcategories, and how much money to budget for each. The five main aspects of a promotional mix are: Advertising – Presentation and promotion of ideas, goods, or services by an identified sponsor.

Examples: Print ads, radio, television, billboard, direct mail, brochures and catalogs, signs, in-store displays, posters, motion pictures, Web pages, banner ads, and emails. (Always in Paid Form non personal) arches a good or service or to act on any idea through the use of an oral presentation. Examples: Sales presentations, sales meetings, sales training and incentive programs for intermediary salespeople, samples, and telemarketing. Can be face-to-face or via telephone.

Sales promotion – Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability. Examples: Coupons, sweepstakes, contests, product samples, rebates, tie-ins, self- liquidating premiums, trade shows, trade-ins, and exhibitions. Public relations (Publicity) – Paid intimate stimulation of supply for a product, service, or business unit by planting significant news about it or a favorable presentation of it in the media.

Examples: Newspaper and magazine articles/reports, TV’s and radio presentations, charitable contributions, speeches, issue advertising, and seminars. Direct Marketing is a channel-agnostic form of advertising that allows businesses and nonprofits to communicate straight to the customer, with advertising techniques such as mobile messaging, email, interactive consumer websites, online display ads, fliers, catalog striation, promotional letters, and outdoor advertising. Corporate image Corporate image may also be considered as the sixth aspect of promotion mix.

The Image of an organization is a crucial point in marketing. If the reputation of a company is bad, consumers are less willing to buy a product from this company as they would have been, if the company had a good image. Sponsorship is sometimes added as an seventh aspect. KEY TERM GLOSSARY Consumer Someone who acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing. The consumer is the one who pays to ensure the goods and services produced. As such, consumers play a vital role in the economic system of a nation.

In the absence of their effective demand, the producers would lack a key motivation to produce, which is to sell to consumers. Intermediary An intermediary (or go-between) is a third party that offers intermediation services between two trading parties. The intermediary acts as a conduit for goods or services offered by a supplier to a consumer. Is a third party that offers services between two trading parties. The intermediary acts as a conduit for goods or services offered by a applier to a consumer.

Typically the intermediary offers some added value to the transaction that may not be possible by direct trading. Market A group of potential customers for one’s product. One of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. Public relations Public relations (PR) is the practice of managing the flow of information between an individual or an organization and the public. Public relations (PR) is the practice of managing the flow of information between an individual or an organization and the public. E practice of managing the flow of information between an individual or an organization and the public Budget An itemized summary of intended expenditure; usually coupled with expected revenue. The amount of money or resources earmarked for a particular institution, activity, or time-frame. An itemized summary of intended expenditure, usually coupled with expected revenue. Communication The concept or state of exchanging information between entities. An instance of information transfer; a conversation or discourse the concept or state of exchanging data or information between entities Corporate

An incorporated entity is a separate legal entity that has been incorporated through a legislative or registration process established through legislation. Corporate image A corporate image refers to how a business is perceived. It is a generally accepted notion or image of what a company stands for. Coupon Any interest payment made or due on a bond, debenture or similar (no longer by a physical coupon). Any interest payment made or due on a bond, debenture, or similar. Demand The desire to purchase goods or services, coupled with the power to do so, at a particular price.

The desire to purchase goods and services. Distribution The process by which goods get to final consumers over a geographical market, including storing, selling, shipping, and advertising. The set of relative likelihoods that a variable will have a value in a given interval A probability distribution; the set of relative likelihoods that a variable will have a value in a given interval. Good an object produced for market Incentive Something that motivates, rouses, or encourages. It is used to motivate employees for better performance by providing financial rewards.

Something that motivates, rouses, or encourages; an anticipated reward or aversive event available in the environment. Something that motivates an individual to perform an action. Media A figure, diagram, or image that creates a visual association to the atom title and/or illustrates a key concept covered in the atom The Journalists and other professionals who comprise the mass communication industry. Means and institutions for publishing and broadcasting information. General term for different types of materials.

In communications, media (singular medium) are the storage and remission channels or tools used to store and deliver information or data. It is often referred to as synonymous with mass media or news media, but may refer to a single medium used to communicate any data for any purpose. The mass media are all those media technologies that are intended to reach a large audience by mass communication. In communications, media (singular medium) are the storage and transmission channels or tools used to store and deliver information or data.

Money a generally accepted means of exchange and measure of value A generally accepted means of exchange and measure of value. Personal selling the use of individual interaction with the potential customer to convince them to purchase a product the act of using people to sell products to consumers face-to-face Presentation A lecture or speech given in front of an audience. Process A series of events to produce a result, especially as contrasted to product. In reference to capabilities, a process is how the capability is executed. An outgrowth of tissue or cell.

Product Any tangible or intangible good or service that is a result of a process and that is intended for delivery to a customer or end user. A chemical substance formed as a exult of a chemical reaction Anything, either tangible or intangible, offered by the firm as a solution to the needs and wants of the consumer; something that is profitable or potentially profitable; goods or a service that meets the requirements of the various governing offices or society. Prospect The potential things that may come to pass, often favorable.

A potential customer Sales promotion when media and non-media marketing communication are employed for a pre- determined, limited time to increase consumer demand, stimulate market demand or improve product availability media and non-media marketing communication employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability Sample A subset of a population selected for measurement, observation or questioning, to provide statistical information about the population.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

Objectives and goal setting (strategic marketing) Segmentation: classify and identify clients and needs Targeting: decide the sector we want to satisfy Different strategies: Undifferentiated strategies: the same offer to all groups Differentiated strategies: offers adapted to the needs, wishes, and desires of a specific group of people More expensive (production, stock, retail) More management But if one offer is a failure, the company can continue operating with its other reduces (ex: Pug 0 Nina Rich, Carolina Hearer, Pravda).

Niches/specialists: focus on one segment/niche Strategies in terms of growth: combine a new product in an established market 0 penetration & sprinkle Action plans (operational marketing):Marketing mix (product, price, place, promotion) “Likeability’: recent term to define those people that are not good at their Job but due to their way to be and behave everybody ends up liking them and wanting to work with them. (Have it in mind when branding analysis). Sales, Profit & Marketing Mix Optimization Profit = Revenue – Cost Revenue = p * q P=p-K profit -K) -F.

M (k = discounts) Unit contribution (P – K)- C Contents of Marketing Plan (8 points) 1. Executive Summary Brief statement of goals and recommendations based on hard data. 2. Current Marketing Situation Presents data on the market, product, competition, distribution, macro-environment. (Product fact book) S. P. I. N. S. Situation “Where am ‘”Problem identification/ Implications “What is happening”, Needs Assessment “Why is it happening”, Solutions “What can I do about it” Market Situation: Data on target market, size and growth for past years and each segment.

Data uncustomary needs, perceptions, and buying behavior trends. Product Situation: Sales, prices, contribution margins and net profits for each major product line in the past several years. Competitive Situation: Major competitors described in terms of their size, goals, market share, product quality, marketing strategies. Distribution Situation: Information on size and importance of each distribution channel. Macro-environment Situation: Describes broad macro- environment trends – demographic, economic, technological, political/legal, social cultural, that bear on a product’s future. . Opportunity and Issue Analysis SOOT analysts Opportunities and Threats analysis Strengths and Weaknesses analysis Issue analysis: Use SOOT to define the main issues plan must address 4. Objectives Defines the plan’s financial and marketing goals in terms of sales volume, market share and profit. 5. Marketing Strategy (game plan) Broad marketing approach that will be used to achieve goals. Target market Positioning Product Line Price Distribution Outlets Sales Force Service Advertising Sales Promotions Research and Development Marketing Research 6.

Action Programs Special marketing programs designed to achieve objectives, I. . , winning the loyalty of existing customers 7. Projected P 8. Controls How will program be monitored? LESSON 2: NEW PRODUCT DEVELOPMENT AND LIFE CYCLE When talking about prices, decisions, we talk about goods and services that are offered in the market that satisfy a want and needs. They cover goods, services, ideas, information and everything that can be offered.

Analysis by two different points of view: Product itself (physical attributes) 0 clothing, product defined by customer needs 0 washing machine The product defined by a customer needs, not Just the product but also the problem it solves, problem recognition from consumer decision Journey Core product: product we look for to satisfy a need (concept of need/necessity) Expected product: attributes with specific function and performance. What the consumer expects from the price for example a guarantee, repair system, different washing programs… Augmented product: helps the company to create competitive advantage, extra offer to standard products.

Added features and characteristics that give extra value to consumers. Here is where the firms can get Competitiveness’s, it can be lilt around price, design, ecology 0 whatever that it is valuable and that can be offered in addition to our competitor’s products. Potential product: what a product could become (washing machines that do not use water). More innovative products are found here. Role of products: Maintain a product innovator position in the market. Market share defense: product obliteration, a product for every need ex,Deanne. Whatever you need (even if it’s new) the company will end up providing you with it.

Establish a first in position in a future market. Brand communities, necessity to be the one. Develop technology in a new way pod USB Capture a segment Capitalize on distribution strengths. Estella Adam Catalonia, Omaha Madrid Classifications: Durable/not durable (not important) Consumer goods: Convenience goods they are not expensive, the cost per unit is not too high, they are bought frequently, and consumed in small uses. Staple goods toilet paper Impulse goods They are visible and cheap Emergency goods starts raining and we need an umbrella.

Shopping goods informed about products, spend time in analyzing different products, high involvement from the consumer usually the price is high. Specialist odds related to brands, customers are willing to pay more Just because of the brand. Unsought goods we buy it when we need it. Industrial goods: materials & parts, capital items, supplies & services. Consumer behavior : different purposes, similar products. They can be classified by how making buying decisions First time buy: decision making-units (initiator, user, decider, buyer, influencer, gatekeeper).

We consider the first time a company makes a decision in order to buy an asset. Its DIM decides which products have to be bought and the gatekeeper use to choose a few suppliers in order to make the choice simpler. Adapted rebury (modified): it happens when there is a disagreement on the first time buying or when the contracts and agreements have to be changed for whatever reason. Changing some aspects of our buy (different characteristics, price, needs, paying periods) Routine rebury (direct): there is no decision involved, it is a longer contract with periodical buying, like electricity.

D onto make buying decisions, Just ordering from the already agreed supplier. 2. 3 Individual product decisions: brand/brand name -?+ Characteristics: packaging, brand name, logo… Criteria, advantages offered by ranging, branding strategies traditional perspective contemporary perspective Parts in branding (brand knowledge): tangible: name + image (logo, uniform, songs… ) -?+ can be perceived intangible: brands creates identity Pet model: why sometimes we are able to rationalize our consumption patters and why sometimes not. Nagging brand: emotional stimulus intangible brand: sensory stimulus (intuition/stimulus that makes you buy a product rather than any other without knowing the exact reason why. Steps: Know brand (do people know, they are aware of the existence of the brand) management rand’s authors -?+ associating a brand with certain celebrities/well known people finding the right balance (maintaining consistency) Identify brand -?+ identify your target customers, buying a product not only for the product itself but experience and reputation, load your brand and create a compelling brand personality.

Brand communities -?+ information and impressions about the product will be shared between people inside, the same association -?+ we could win or lose lots of clients, when creating a brand community we have the opportunity to extend our market by producing different products associated with he brand’s main product. Accountancy part of the brand: Brand equity: micro level -?+ reaction of customer to branded products, macro level -?+ measuring incremental profit from a sale compared with unbranded products.

Risk measurable by observation: favoritism of the brands market, ability to shape the market stability, cross-geographical and cultural borders. (complement with brand article) Brand’s competitive advantage Brand management -?+ Equity (value) – asset, differentiation – builder Product differentiation and positioning: elements of products. Element marketing managers cake decisions about attributes, brand, package, label -?+ help identify and differentiate given a product from similar products.

A brand is any name, term, symbol, sign, design or unifying combination of these, that identifies and distinguishes one product from another competitive product (Skimmed & donation). Advantages provided by the use of brands: Facilitates product identification Facilitates product differentiation Facilitates order processing Provides manufacturers and distributors with legal protection Helps attract and build groups of loyal customers Facilitates market segmentation

Helps create corporate image Branding strategies: Manufacturer’s Brand: Ford, Phillips, Samsung Distribution brand or private Brand: Careful, El Correct Mingles Family brand (Nestle, Nested, Ensnare) Individual Brand: Pug Combination of family, individual brand second brands vertical brands -?+ Ezra (vertical integrated) Brand alliances -?+ Nested (Nestle, Collar) Multiplicands -?+ different segments Brand image and positioning: – In order to find the correct brand image we have to analyze the context and the environment under the brand is going to be sold, moreover we have to analyze the intent and the image attributes of the brand and then create the brand image. 0 Brand image: perceptual association based on attributes customers assign to the brand in relation to competitors. Identify the ideal brand for customers in order to decide future actions -?+ then we’re able to find how close are the different brands from the “ideal brand”. Brand identity: brand’s inner cohesiveness that allow the brand to exists as a separate entity, different from other brands.

Provides continuity over time. It’s build upon two principles: stability: provides continuity over time sugarless the changes it causes or goes through // differentiation: brands allow them to be identified as one and different from other brands. Brand positioning: It is not possible not to have a brand image. It does not have to be rational, logical or coherent. It evolves due to market and competitor changes. Created in the mind of customers according to their perceptions of brand’s personality-identity. 2. 4 Packaging – Container/wrapper: legislation has a lot to do in that aspect. How products have to be packed? The container is also a good criterion for recognition.

Packaging can also influence consumer’s decision. – Perform sales task: attracting attention, describing the product, add benefits (dispenser), provide instant consumer recognition. It has also to be designed keeping both distributors and consumers in mind. This means that the packaging, for example, has to be transportable but also easy to store. Packaging levels: Products immediate container 0 Final consumer (a bottle) Product’s secondary package (the cardboard box holding the bottle, six-pack bottle) Products’ shipping package (corrugated box containing six dozen units; pale) We have also to consider what materials to use, what kind of container and the capacity that it should have.

Package sometimes are too expensive, so firms opt for the refill option. Good packaging (customer oriented) Attractive, recognizable, capable of being differentiated, or creating impact on customers. Protect, maintains product characteristics Easy to use and move around Easy to transport, store, display, open… Suggest positive aspects of product We have to take into account also the product line packaging, create packages with prospective uses or recyclable, and multiple units package (pills). Product line decisions Product mix: all product lines offered by the company Product line: group of product related, similar uses, same customer, same retails…

Product line length: Extension Downward: from height/better product to low/worse product Upward: from low/worse product to high/better product 2-way stretching Filling: adding more items within present range of the line Product line modernization: price meal or more one at a time Product line featuring: traffic builders New product development New product development implies and innovation process that starts with an idea (innovation) and finishes when it is used as a product. Nowadays we are more conscious about sugar -?+ sales donuts decrease, then they create donuts light (2nd time around), but it was a failure that cost money to companies. New product development is very expensive, more if it is a failure. New product development: the concept Original products, product improvement, product modifications, and new brands that firms develop (Kettle), Both, Allen & Hamilton propose 6 different types of new products: 1. Products that are new for the world: 10% 2.

Addition to existing product lines: 60% 3. Product modifications: 26% 4. Product repositioning: 7% 5. Cost reduction: 1% Newness to the market, newness to the Company. Relevant issues of new products: Source and nature of innovation: Technological innovation: based upon the product’s physical features (production, raw materials, components, technology… ). Ex: Evolve. Marketing innovation: based upon organization, distribution and centralization (packaging, distribution channel, advertisement, payment system… ). Ex: Tetra-brick. Consumer based innovation: analyzing market needs generates innovations with better results (60-80% success rate).

Innovations due to fundamental or applied research: usually new to the world” innovations – discontinuous innovations. Why should a company launch new products? Changes in customer tastes, lifestyles, and technologies. Changes in technology Competitors launch new products Characteristics of success (Sigmund & dynamic) Relative advantage Compatibility with existing consumption patterns Durability: opportunity for buyer testing (samples) Absorbability Complexity (simplicity of usage) Reasons for success: Market related: The product does satisfies market needs Better than competitor’s product Precise concept definition (positioning, physical and perceptible characteristics)

Company related: Takes company strengths & weaknesses into account Has management support and resources Efficient organizations Causes of failure: Market over-estimation. Design mistakes. Wrong positioning, advertising, distribution, price. Underestimation of competitor’s strengths. Actual investment higher than projected. New product development process: 1. Exploration – idea generation 2. Idea screening 3. Concept development 4. Business analysis 5. Product development 6. Test marketing 7. Centralization 1) Exploration: search for product ideas Indirect source: company employees, distributors, competitors, consumers, users. Direct source: sales reports, market research, available new products and licenses, magazines and commercials, inventors, trade shows.

Creative analysis: analyzing and solving a problem, combining previous experience with other techniques such as brainstorming. 2) Idea screening: this is a very important stage, its objective is to analyze and spot the most attractive ideas and to identify and drop the least attractive ideas, or those that are incompatible with the company goals and resources. This is an evaluation stage, which implies evaluation criteria, commonly seed criteria are related to the following aspects: 1) identify key success factors in marketing 2) assign value to each factor according to its relative importance 3) Value the idea regarding each factor 4) Generate a results index 3) Concept development and testing: it is important to distinguish between product idea, concept and image.

Product concept: detailed version of the idea stated in meaningful consumer terms, product image: how the consumers perceive the actual potential product once the concept has been developed it has to be tested through a concept test, thus, we can now whether the concept is attractive for the market. 4) Marketing strategy: – Gathering the required information – Evaluation criteria – Economic Analysis (NP, AIR) – Strategic Analysis (market attractiveness & project contribution to the company) Business analysis To evaluate the feasibility, real possibilities of the selected product concepts. The company must analyze the new proposal attractiveness. The following information is needed: sales forecast, cost estimates, cash flows estimates, and investment project analysis.

Selection relies on the evaluation of economic & strategic aspects of the business, always keeping in mind that: a) resources are usually scarce b) There are many different opportunities c) Each project around a new idea has different risk implications. 5) Product development The idea becomes a product: physically, technically & commercially profitable. The proposed new product idea is transformed from a product concept to a product prototype. This stage implies a big investment, in terms of time & money, its central focus is product specifications: physical characteristics, package design, brand name decisions. One or more versions of the product are created keeping in mind that. -It as to be perceived as possessing the described characteristics – It has to work safely under normal conditions – Can be produced according to projected costs 6) Product testing: Alfa-test: company employees & potential customers try the product. Beta-test: check the product with real consumers. Give samples to be used under normal conditions, during pre-arranged period of time. Gamma-test: product & marketing plan presentation to people & institutions implied (distributors, politicians… ) Delta-test: Check products that have been used for long periods of time. 6) Test marketing Consumer products: Standard test markets: A small number of cities. -Controlled test markets: controlled panels of stores which carry new products for a fee. Simulated test markets: conducted with a sample of consumers that are given money to buy after being shown ads & promotions. Industrial goods: – Making projected investments real, incurring in marketing & production expenditures. – Adjusting the marketing plan of action to the last pieces of information. – Establishing the control system (to know the evolution & facilities readjustments) 7) Centralization – Making projected investments real incurring in marketing and production information. – Establish the control system (to know the evolution and facilitate readjustments).

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” – AMA Association Value: The benefits a customer receives from buying a good or service. Marketing: An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Stakeholders: Buyers, sellers, or investors in a many, community residents, and even citizens of the nations where goods and services are made or sold-?in other words, any person or organization that has a “stake” in the outcome. Consumer: The ultimate user of a good or service. Marketing concept: A management orientation that focuses on identifying and satisfying consumer needs to ensure the organization’s long-term profitability. Need: The recognition of any difference between a consumer’s actual state and some ideal or desired state. Can be physical or psychological) Want: The desire to satisfy needs in specific ways that are culturally and socially influenced. Benefit: The outcome sought by a customer that motivates buying behavior-?that satisfies a need or want. Demand: Customers’ desires for products coupled with the resources needed to obtain them. Market: All the customers and potential customers who share a common need that can be satisfied by a specific product, who have the resources to exchange for it, who are willing to make the exchange, and who have the authority to make the exchange. Marketplace: Any location or medium used to conduct an exchange.

Virtual Goods: Digital products consumers buy for use in online contexts. Utility: The usefulness or benefit consumers receive from a product. ; Form utility: the benefit marketing provides by transforming raw materials into finished products A dress manufacturer combines silk, thread, and zippers to create a bridesmaid’s gown. ; Place utility: benefit marketing provides by making products available where customers want them The most sophisticated evening gown sewn in New Work’s garment district is of little use too bridesmaid in Kansas City if it isn’t shipped to her in time. Time utility: benefit marketing provides by storing products until they are needed. Some women rent their wedding gowns instead of buying them and wearing them only once (they hope! ). ; Possession utility: the benefit marketing provides by allowing the consumer to own, use, and enjoy the product. The bridal store provides access to a range of styles & colors that would not be available to a woman outfitting a bridal party on her own Exchange: The process by which some transfer of value occurs between a buyer and a seller.

Product: A tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process; a undue of attributes including features, functions, benefits, and uses. The Production Era: focuses on the most efficient production & distribution of products (The Model T story) Production Orientation: A management philosophy that emphasizes the most efficient ways to produce and distribute products. The Sales Era: During the Great Depression in the asses, when money was scarce for most people, firms shifted their focus from a product orientation to moving their goods in any way they could.

Selling Orientation: A managerial view of marketing as a sales function, or a way to move reduces out of warehouses to reduce inventory. The Relationship Era: Marketers did research to understand the needs of different consumers, assisted in tailoring products to the needs of these various groups, and did an even better Job of designing marketing messages than in the days of the selling orientation. Consumer Orientation: A business approach that prioritize the satisfaction of customers’ needs and wants.

Total Quality Management (TTS): A management philosophy that focuses on satisfying customers through empowering employees to be an active part of mutinous quality improvement Instantaneous: businessperson who only produces a product when it is ordered (manufacture on demand/]just-in-time) The Triple Bottom Line Orientation: A business orientation that looks at financial profits, the community in which the organization operates, and creating sustainable business practices. 1 . The financial bottom line: Financial profits to stakeholders 2.

The social bottom line: Contributing to the communities in which the company operates 3. The environmental bottom line: Creating sustainable business practices that minimize mage to the environment or that even improve it Customer Relationship Management: A systematic tracking of consumers’ preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual’s unique wants and needs. CRM allows firms to talk to individual customers and to adjust elements of their marketing programs in light of how each customer reacts.

Attention Economy: A company’s success is measured by its share of mind rather than share of market, where companies make money when they attract eyeballs rather than Just dollars. Social marketing concept: A management philosophy that marketers must satisfy customers’ needs in ways that also benefit society and also deliver profit to the firm. Sustainability: A product design focus that seeks to create products that meet present consumer needs without compromising the ability of future generations to meet their needs.

Cradle to cradle: this term describes the ideal condition where a product is made from natural materials and is fully reusable, recyclable, or biodegradable so the net depletion of resources a company needs to make it is zero. Green marketing: A marketing strategy that supports environmental tidewaters thus creating a differential benefit in the minds of consumer. Return On Investment (ROI): The direct financial impact of a firm’s expenditure of a resource such as time or money.

Popular culture: The music, movies, sports, books, celebrities, and other forms of entertainment consumed by the mass market. Myths: Stories containing symbolic elements that express the shared emotions and ideals of a culture. Consumer goods: The goods individual consumes purchase for personal or family use Services: Intangible products that are exchanged directly between the reducer and the consumer Business-to-business marketing: The marketing of foods and services from one organization to another.

Industrial goods: Goods individuals or organizations buy for further process or for their own use when they do business. Commerce: The buying or selling of goods and services electronically, usually over the Internet. Shrinkage: Losses experienced by retailers due to shoplifting, employee theft, and damage to merchandise. Anticoagulation: The deliberate defacement of products. Non-for-profit organizations: Organizations with charitable, educational, community ND other public service goals that buy goods and services to support their functions and to attract and serve their members.

The value of Marketing and the Marketing Value Value Proposition: A marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased. Breastfeeds: Events companies host to thank customers for their loyalty Lifetime value of a customer: The potential profit a single customer’s purchase of a firm’s products generates over the customer’s lifetime Distinctive competency: A superior capability of a firm in comparison to its direct competitors.

Coca-Cola’s success in global markets due to distribution and marketing communications) Differential benefit: Properties of products that set them apart from competitors’ products by providing unique customer benefits. (Apple futuristic deigns and superior graphics) *Effective product benefits must be both different from the competition and things customers want Value Chain: A series of activities involved in designing, producing, marketing, delivering, and supporting any product. Each link in the chain has the potential to either add or remove value from the product the customer eventually buys. Inbound logistics: Bringing in materials to make the product ; Operations: Converting the materials into the final product ; Outbound logistics: Shipping out the final product ; Marketing: Promoting and selling the final product ; Service: Meeting the customer’s needs by providing any additional support required Marketing scorecards: Feedback vehicles that report (often in quantified terms) how the company or brand is actually doing in achieving various goals Metrics: Measurements or “scorecards” marketers use to identify the effectiveness of different strategies or tactics.

Nonprofessionals: Consumers who contribute ideas to online forums for the fun and challenge rather than to receive a paycheck, so their motivation is to gain psychic income rather than financial income. Consumer- generated content: Everyday people functioning in marketing roles, such as participating in creating advertisements, providing input to new product development, or serving as wholesalers or retailers.

Social Networking: Online platforms that allow a user to represent him- or herself via a profile on a Web site and provide and receive links to other members of the network to share input about moon interests. Web 2. 0: The new generation of the World Wide Web that incorporates social networking and user interactivity Physical URL: New APS that enable user-generated clouds of content to form around products; barded scans allow the user to upload content or see what others have already uploaded. Folksong: A classification system that relies on users rather than pre-established systems to sort contents.

Wisdom of crowds: Under the right circumstances, groups are smarter than the smartest people in them, meaning that large numbers of consumers can predict successful products. Open source model: A practice used in the software industry in which companies share their software codes with one another to assist in the development of a better product. Marketing plan: A document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy.

Mass market: All possible customers in a market, regardless of the differences in their specific needs and wants. Market segment: A distinct group of customers within a larger market who are similar to one another in mom way and whose needs differ from other customers in the larger market. Target market: The market segments on which an organization focuses its marketing plan and toward which it directs its marketing efforts. Market position: The way in which the target market perceives the product in comparison to competitors’ brands.

Marketing mix: A combination of the product itself, the price of the product, the place where it is made available, and the activities that introduce it to consumers that creates a desired response among a set of predefined consumers. Four As Product, price, promotion, and place. Product: The physical good that has features that attracts consumers Price: The assignment of value, or the amount the consumer must exchange to receive the offering. Promotion: The coordination of a marketer’s communication efforts to influence attitudes or behavior.

Place: The availability of the product to the customer at the desired time and location. Chapter 1 Objectives Understand who marketers are, where they work, and marketing’s role in a firm. Marketers come from many different backgrounds and work in a variety of locations, from consumer goods companies to nonprofit organizations to financial institutions o advertising and public relations agencies. Marketing’s role in a firm depends on the organization. Some firms are very marketing-oriented, whereas others do not focus on marketing. However, marketing is increasingly being integrated with other business functions.

Therefore, no matter what firm marketers work in, their decisions affect and are affected by the firm’s other operations. Marketers must work together with other executives. Explain what marketing is and how it provides value to everyone involved in the marketing process. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Therefore, marketing is all about delivering value to stakeholders, that is, to everyone who is affected by a transaction.

Organizations that seek to ensure their long-term profitability by identifying and satisfying customers’ needs and wants have adopted the marketing concept. Marketing is also about exchanges or the transfer of value between a buyer and a seller. Explain the evolution of the marketing concept. Early in the twentieth century, firms followed a production orientation in which they focused on the most efficient ways to produce and distribute products. Beginning in the asses, some firms adopted a selling orientation that encouraged salespeople to aggressively sell products to customers.

In the asses, organizations adopted a consumer orientation that focused on customer satisfaction. This led to the development of the marketing concept. Today, many firms are moving toward a triple bottom line orientation that includes not only a commitment to quality and value, but also a concern for both economic and social profit. Understand the range of services and goods that organizations market. Any good, service, or idea that can be marketed is a product, even though what is being sold may not take a physical form.

Consumer goods are the tangible products that consumers purchase for personal or family use. Services are intangible products that we pay for and use but never own. Business-to- business goods and services are sold to businesses and other organizations for further processing or for use in their business operations. Not-for-profit organizations, ideas, places, and people can also be marketed. Understand value room the perspectives of customers, producers, and society. Value is the benefits a customer receives from buying a good or service.

Marketing communicates these benefits as the value proposition to the customer. For customers, the value proposition includes the whole bundle of benefits the product promises to deliver, not Just the benefits of the product itself. Sellers determine value by assessing whether their transactions are profitable, whether they are providing value to stakeholders by creating a competitive advantage, and whether they are providing value through the value chain. Customers generate value when they turn into advertising directors, retailers, and new product development consultants, often through social networking.

Society receives value from marketing activities when producers and consumers engage in ethical, profitable, and environmentally friendly exchange relationships. Explain the basics of marketing planning and the marketing mix tools managers use in the marketing process. The strategic process of marketing planning begins with an assessment of factors within the organization and in the external environment that could help or hinder the development and marketing of products. On the basis of this analysis, marketers set objectives and develop strategies.

Many firms use a target marketing strategy in which they divide the overall market into segments and then target the most attractive one. Then they design the marketing mix to gain a competitive position in the target market. The marketing mix includes product, price, place, and promotion. The product is what satisfies customer needs. The price is the assigned value or amount to be exchanged for the product. The place or channel of distribution gets the product to the customer. Promotion is the organization’s efforts to persuade customers to buy the product.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

As he plays a big role in the company in cost management and any other strategies of running a low budget airline. The Strategy implementation has been carried out using the Muckiness 7 S model. This has helped identify the various aspects of improvement for Ryan Air. As Ryan Air is the first budget airliner, it has been able to become the largest carrier in the ELK. To address the short comings and the strategy defects, the following report addresses various models to analyses and implement a strategy to enhance the airline since its cost management systems remain of top notch.

Through this report the identification of the strategy and a new implementation of it may enhance through the G’S model has been able to address all aspects. This report contains vital information of Ryan Air’s position and its strategies and recommendations to ensure the company is performing at high levels in all sectors. 2. 0 Porter’s Generic Strategy of Ryan Air Ryan Air is a low budget airline. Its main focus is more or less cost reduction. Its strategy remains the world’s low budget airline.

Therefore we are able to make and analysis of Ryan Air using the Porter’s Generic Strategies to analyze the current position of Ryan Air. Through analysis we are able to outline the three generic strategies such as, Cost Leadership Differentiation Focus Cost Leadership Cost Leadership strategy is based upon a business organizing and managing its value-adding activities so as to be the lowest cost producer of a product within and industry (Campbell, 2002) The strategy here is based on the goal of the airline. A low budget airline that is value adding and competes against its competitors with the lowest costs.

Ryan Air has been able to become a popular airline among European citizens and have attracted many European business travelers who only require eating from point A to point B. With the recent recession and various other factors of customers searching for cheaper option which provided quality service, Ryan Air have been able to create a demand for its tickets. At first they were an ordinary airline with normal service of high quality which also suggested that they are a high priced airline. Therefore the company was forced to go in to cost reduction mode due to the external forces of recession.

Therefore along with the expansion to Europe the air line was faced in hardships of surviving as a high costs airline. Therefore the many was forced to become a more effective cost leader in its sector. Through this they are able to become the best low fares airline in the European sector. Differentiation has many advantages for the firm which makes use of the strategy. Some problematic areas include the difficulty on part of the firm to estimate if the extra costs entailed in differentiation can actually be recovered from the customer through premium pricing.

Moreover, successful differentiation strategy of a firm may attract competitors to enter the company’s market segment and copy the differentiated product. Lynch, 2003). As Ryan faced various hardships in the past receiving losses of up to EERIE Million, the fight to survive along with Michael O’Leary decided to change company strategy that was based on the model developed by American Southwest Airlines. Ryan air’s generic strategy remained unclear, alas they remained somewhere between a focuser and a cost leader.

But their previous strategies were heavier on the focuser aspect of the porter’s generic forces. When their competitors were blooming they were on the verge of changing their strategy to becoming a low budget airline. Therefore differentiation together with cost leadership was made a combination in being popular among the segment for a unique service provider in the airline industry. As it competitors like Asset were using primary airports which charges a higher rates, Ryan Air was able to use Secondary airports being available to most destinations suggesting it was the most pure low cost airline.

As Are Lingua and Lufthansa remained as competitors they have focused on differentiation over low cost. They are focusing on both differentiation and low cost. Therefore Ryan Air is able to maintain its lower costs sousing mainly on low costs. As Ryan Air remain cost leader Are Lingua and Asset focused mostly on differentiation. Therefore these airlines on this aspect were differentiated where as Ryan Air focused entirely on a pure low cost airline. Focus Porter initially presented focus as one of the three generic strategies, but later identified focus as a moderator of the two strategies.

Companies employ this strategy by focusing on the areas in a market where there is the least amount of competition (Pearson, 1999). The focus of Ryan air is to attract customers to low cost airlines getting from point to point. Therefore its focuses are to accommodate passengers and customers to select a purely low budget airline over its competitors as mentioned above. Therefore the case also represents that Ryan Air has no frills and suggests extremely low cost with high quality service catering to customers who need to get to cities with secondary airports.

This helps them focus on business clients over the holiday customers who demand comfort over A to B transportation. Therefore through these strategies Ryan Air is able to use the purely low cost strategy to gain sales of air tickets that were often demanded by businessmen. As per cost leadership Ryan air has focused in to becoming the lowest cost airline catering to many customers who seem to easily select Ryan Air over other airlines that provided a higher quality and quantitative service for a premium price.

Therefore the focus of this airline such as Ryan Air was to focus less on differentiation and maintain focus on low cost airlines. Through these aspects by using the porter’s generic forces, Ryan Air remains as purely a low cost airline that focuses less on being unique against its competitors lacking differentiation. Their traceries are entirely based on being the Cost Leader in its segment. 3. 0 Value Chain Analysis “By identifying the key resources and capabilities which are unique to the business and which are valuable and hard to imitate will determine the sustainable competitive advantage. (Hubbard, 2008, pop). Through the help of the value chain analysis the company could be able to identify how Ryan could build up its capabilities to compete against other similar budget airlines. This illustration does show how the organization could add value to their services. It will also help understand the strengths and weaknesses. Source-http://www. Slideshows. Net/ pupa/analysis-of-Ryan’s-competitive-advantages In the above diagram the value chain analyses through the study of Ryan Air has been able to outline the important areas in Porter Value Chain Analysis.

Throughout this analysis it is clear that the infrastructure made for Ryan Air has been quite competitive and have worked to their advantage. When analyzing the Inbound Logistics which provides quality training with the help of low cost suppliers and airport agreements have helped through Building a low cost training facilitation of crew and pilots together tit internet sales and ticketing which has made things much efficient and effective. The Boeing discounts received on procurement of new airplanes have enabled them to create a qualitative inbound logistics at Ryan Air.

Operations at Ryan air on the other hand have remained focused on low cost, which suggests a no frills airline that caters to customers of the European sector. A limited crew in lower cost on HARM and technical development that helps access to information much easier that help alliances in working together to be more efficient. These have attracted low costs that attract more customers in to choosing Ryan Air. The outbound Logistics remain as Management control which consists of an integrated system that is outsourced to a company that would help handle outbound logistics. This helps in the efficiency of the airline.

Quick turnaround and Reliable service both helps Ryan Air to enhance their efficiencies in their value systems to maintain outbound logistics at a efficient pace. Marketing and sales have been conducted in house with existing employees of Ryan Air and have been handles internally. Low technical Marketing and internet sales have required a minimum number of staff which helped in cutting down on sots to remain truly a low cost airliner. Therefore Low cost promotions to attract customers, together with free publicity have helped create awareness among the public to enhance sales.

Controversial comparisons to its competitors making Ryan air the selected airline among many businessmen. Internet Sales have boosted the speed of acquiring customers and efficiency and saving of time in obtaining the maximum number of passengers in each flight. Yield management has helped enhance the Marketing and Sales to make sure performance is at its peak where the sales are constant and consistent. Influencing consumers to select Ryan Air has enabled Yield Management to be successful in Ryan Air’s Marketing and sales division.

Under the service aspect of Ryan Air performance contracts of employees have ensured that all perform at high levels and high productivity. This suggests that making maximum use of limited resources and a basic low cost would enhance the service through performance contracts. These aspects on the service sector of Ryan Air have made it able to reach high targets being a low cost airliner. They have been able to acquire many sales and is on the verge of being the best budget airliner in he European sector. Therefore through this analysis it has been identified that a successful budget airliner and remains a truly low cost airline. . 0 Michael O’Leary Leadership Ryan Air’s leadership strategies are based on Michael O’Leary ways of managing the business. As CEO of the company he is very outspoken and is ready accept any challenge he faces. The success of Ryan Air is not possible without a strong commitment by one of executives of the company. Therefore Michael O’Leary was the one to stand up and begin to run this company to retrieve it back to a path of success. Mr. O’Leary was the savior of Ryan Air transforming it to a profitable airline in Europe. His leadership styles were the main backing to help all sectors work together in to achieving this target.

With its low cost strategy and to be the world’s best airline, his leadership style represents a quite task oriented leadership style. This style often was based on position and authority and seniority. His plans on acquiring Are Lingua are still on the verge where he would not give up in acquiring it. Therefore this illustrates that his leadership style exhibits a focused and determined adhering style. He is not afraid to take on his staff if they stand in the way of cost reduction. This also suggested that his team that worked under him had to load baggage and was abusive and abrupt with the staff.

This also illustrates aggressive growth and an aggressive stance. He is now a marketing genius being voted the European Businessmen of the year. (http://www. Guardian. Co. UK/business/2004/novo/ 07/transcendentalists. Obstreperousness) 4. 1 Michael O’Leary Leadership levels In order to analyses Michael O’Leary we could use the Level Five Leadership prepared by Jim Collins. According to Jim Collins “Only 11 companies in history have successfully made the transition to greatness. ” What they seem to have in common is that all leaders had all five levels of leadership.

Through the following individual levels of leadership we are able to assess the quality of leadership Mr.. Michael O’Leary possesses. Level One: A capable individual who makes productive contributions through talent, knowledge, skills and good work habits. According to the relevant information on the case and the understandings of the leadership aspects of Michael O’Leary it is understood that he does posses productive introductions through talent that has definitely helped Ryan Air in reaching its targets of becoming the Largest Carrier in I-J.

Also becoming the first budget Airliner in the UK has made them establish themselves as truly a cost leader. These aspects of Ryan Air have only been able to be reached due to its well talented Leader, Mr. O’Leary. His productivity among anything he does and also his skills of handling a financial plan and handling the overall financial aspects of a company, he has truly mastered and redesigned the art of cost cutting. Therefore his skills and knowledge eve helped him develop good work habits to ensure every aspect of Ryan Air is done efficiently.

Level Two: A Team member, he contributes his individual capabilities to the achievement of the group objectives and works effectively with others in group settings. When addressing level two according to Jim Collins, Michael O’Leary exhibits a moderate level of the ability to work with teams. He is able to direct and ensure that his subordinates are achieving their targets. This illustrates that his individual capabilities have been passed down individually ensuring that all targets are met. Level Three: A Competent Manager. He knows how to organize people and resources towards the effective and efficient pursuit of predetermined objectives.

As a competent Manager Michael O’Leary art of executing tasks were of top notch. Reviving Ryan Air in becoming the best Carrier in the United Kingdom has ensured his effectiveness and Efficiency to be in par with the companies’ objectives of becoming truly a low cost budget airline with no frills at all. Level four: Goes one step further and become an effective leader, his catalysts to and a vigorous pursuit of a clear and compelling vision, stimulating higher performance standards. As for Mr.. O’Leary being an effective leader is of no doubt.

Along with that he is efficient in it as well due to the fact that low budget financing and strategically implementation of controlling a large entity like an airline industry with minimal cost is of a state of the art financial plan for Ryan Air. And that suggest that the strategies Mr.. O’Leary has implemented has truly brightened his leadership capabilities. By creating a strategy to achieve a clear compelling vision such as being the lowest cost airliner or cost leader, O’Leary has developed a sophisticated financial plan and cost management yester for a yet simple vision with optimum performance and standards.

Level Five: The person who knows how to build enduring greatness through paradoxical blend of humility and professional will. Mr. O’Leary in his leadership has been able to undergo several steep steps in to making Ryan Air the No. L Airliner in UK. His driving forces often were much stronger than his restraining forces. Building greatness in anything he does was based on his personality together with his ability. His vision of not stepping down from the agreement of Are Lingua Joining hands with Ryan Air has en due to the fact that his professional will and his blend of humility has worked to his advantage. Http://us. Highball. Com/notes/54539-Jim-Collins-on-level-five- leadership) Through these aspects we are able to understand that Mr.. Michael O’Leary is not a level 5 leader due to his limitations of working together as a team. But he is quite close to becoming a true and effective leader of a level 5 leader. Therefore his improvements of being able to work as a team would advance him from being a level 4 leader, advancing to a level 5 leader. 5. 0 Organizational Structure and Systems of Ryan Air The organizational structure of Ryan Air according to the details of the case remains to be tall.

Therefore Ryan Air structure has been illustrated in appendix 1 to indicate the functional structure of the organization. This functional structure represents a traditional functional structure with functional heads reporting directly to the CEO, Michael O’Leary. The Chief financial Officer and the Chief Operating Officer reports directly to the CEO together with the the HER manager, Legal Secretary and ground operations officer. This illustrates an ideal short hierarchy as the company is able to monomaniac within its segments to ensure consistency is permanent.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

What does the phrase “exchange relationship” mean in relation to marketing? The term of “Exchange” refers to give something in return for something, received of approximately equal value, to provide an object, a service or an idea. In Hong Kong, we usually called “Trade”. An exchange relationship is a direct relationship developed between a business and its customers has built on benefit and trust. An exchange relationship focuses on going beyond a simple business transaction by providing personalized care and attention, a “social exchange,” along with incentives for customers to remain with a many.

This personal connection develops stronger ties between the customer and the company, which is a quality many consumers seek in a business transaction. Goods are items, it is tangible products. For example: a car, handbag that you can see, feel, taste, touch and smell them. Services are things that people do, it is intangible products. For example: driving a bus, being a doctor, these two Jobs are type of services. We can trade goods and services to get the things that we need or want. So, Value refers to the tangible and intangible benefits a customer receives from buying good or service.

Marketing is ensuring that the thing being exchanged is appreciated for the value it holds. We can see the value from the different perspectives of the parties involved in an exchange: the customer, the producer and society. Most of the organization makes money not Just for themselves, for their customers, and also for their “Stakeholders”. The stakeholders of an organization also want to see the long run of the business, for sure don’t want to be associated with a company just for few years of disappear. The best way to present a good or service for consumers consideration, marketers eve many decision to make, so they need many tools.

The marketer’s strategic tool box is called the “Marketing Mix”. The term of “Marketing Mix” became popular, because of Neil H. Borden published an article during asses. Border’s marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, These ingredients into the four categories that today are known as the “Four AS”, they are Product, Price, Promotion and Place. Each P is a piece of the puzzle, they need to combine with the other pieces.

These four Up’s are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four Up’s on the customers in the target market in order to create perceived value and generate a positive response. Product is a good, a service, a place, a person, whatever is offered for sale in the exchange. For example: Brand name, Functionality, Styling, Quality, Safety, Packaging, Repairs and Support, Warranty, Accessories and Services.

Price is the value that the customer gives up or exchanges in order to obtain a desired reduce. For example: Pricing strategy, suggested retail price, discounts, wholesales pricing, cash, early bird discounts, seasonal pricing or price flexibility etc. Promotion includes all the activities marketers undertake to inform consumers about their products, and to encourage potential customers to buy these products. Promotions can take advertising, personal selling, sales force, sales promotion, public relations, marketing communications budget.

Place is about getting the products to the customer. This related to distribution channels, marketing coverage, members, arousing, distribution centers, order processing, transportation and logistics. An exchange centralizes the communication of bid and offer prices to all direct market participants, who can respond by selling or buying at one of the quotes or by replying with a different quote. Depending on the exchange, the medium of communication can be voice, hand signal, a discrete electronic message, or computer-generated electronic commands.

When two parties reach agreement, the price at which the transaction is executed is communicated throughout the market. The result is a level laying field that allows any market participant to buy as low or sell as high as anyone else as long as the trader follows exchange rules. Some dealers convert their bid or ask quotes and negotiate the price through the electronic message, such as email or SMS, or by phone. The trading arrangement is not considered an exchange because it is not open to all participants equally. 2. A sales manager at BBC Services Inc. Was required to track important marketing metrics each quarter.

Give two examples of the marketing metrics this sales manager might report. In recent year, data based marketing has swept through the business world, measurable, reference and accountability has become the keys to marketing success. There are many managers appreciate the range of marketing metrics by which they can evaluate marketing strategies and dynamics. Customer Relationship Management, we called “CRM”, it is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way.

For example, an enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased and so forth. CRM is the strongest and the most efficient approach in maintaining and creating relationships with customers. Customer relationship management is not only pure business, it also ideate strong personal bonding within people.

Development of this type of bonding drives the business to new levels of success. There are some efficient tools for maintaining CRM systems into their workplace are Salesrooms, Bathroom, Upstream, Sugar CRM etc. Creating and scheduling appointments with customers is needed and that is a central activity of most customer oriented businesses. Sales, customer support and service personnel regularly spend a portion of their time getting in touch with customers and prospects through a variety of means to agree on a time and place for meeting for a sales conversation or to deliver customer service.

Appointment CRM is a relatively new CRM platform category in which an automated system is used to offer a suite of suitable appointment times too customer via e-mail or through a web site. An automated process is used to schedule and confirm the appointment, and place it on he appropriate person’s calendar. Appointment CRM systems can be an origination point for a sales lead and are generally integrated with sales and marketing CRM systems to capture and store the interaction. Building and maintaining a business reputation is now more challenging, so many different platforms can be manage the brand reputations.

So, CRM can consolidate and cleaning up your own brand’s social reputation. There are two examples of the marketing metrics for this sales manager: The first example – Sales Records The company’s sales records are files of customer purchases with addresses, mounts, dates, products, payment methods, returns and other information constitute a rich trove of marketing data, it is likely to prove your most valuable marketing information source. Learn how to establish and maintain an effective sales record system, you can track prospects, customers, and sales.

It also can give you the specifics you need to show progress and success in your career. The sales records also can help motivate you as you step back periodically to see what progress you’ve made in selling. If you’re not satisfied with the results, it can motivate you to do better. So, building and to managing the sales records can guide you in your long and successful sales career. For example: “Sales force automation” (SFA) is the most widely and powerful used of sales tools, that increases sales win rates, reduces the sales cycle duration, and also streamlining all phases of sales from lead management to analytics and forecasting. It can enhances the sales representatives’ productivity and improves revenue. The second example – Customers preference Customer preference for a product can make or break a company. If customers generally like a product, it can stay around for years and sell millions of copies. However, if customers do not like the product, it could disappear very quickly if the company cannot figure out how to fix the problem. For example, some of customers choose to buy white cars instead of red or blue, no matter what brand the car is, where it was built, this is customer preference.

Why the most popular color is white? The color of a car has nothing to do with how the car functions, so logic would say that all colors would sell the same amount or car manufacturers would only produce one color. However, this is not the case. Those manufacturers produce many colors, including twice as many in white, or whichever color is trendy or popular at the time. Market research is a key factor to get advantage over competitors, it provides important information to identify and analyze the market need, market size and competition. 3.

Departure uses a business model that relies on women running their own businesses as agents of Departure. Departure successfully exports to China and India. Explain why these countries provide attractive markets for Departure. Departure is the name of a home products line that includes preparation, storage, containment, and serving products for the kitchen and home, which were first introduced to the public in 1946. Departure was developed by Earl Sills Tipper, he developed plastic containers used in households to contain food and keep it airtight.

The formerly patented “burping seal” is a famous aspect of Departure, which distinguished it from competitors. Departure pioneered the “Direct-marketing” strategy made famous by the Departure party. Departure is a successful direct sales company with a proud history. Departure’s business model is still centered on quaint-sounding “Departure Parties,” where the hosts and attendees are mostly women. Departure was known as a method of empowering omen, and giving them a toehold in the post-war business world. Departure is a IIS$2. Billion global firm with 13,500 employees in nearly 100 countries. Its stock price has risen 168 percent over the last five years, compared with virtually no gain for the stock market as a whole. You can Join the company for a very reasonable fee, you can make money with the Departure business model by finding customers. You also can hand out catalogs to friends and family members; you can do product demonstrations, conduct one on one meeting, host in home parties and do other things to generate sales. When you make sales, you can earn commissions and overrides off your total sales volume.

Another way to make money with the Departure business model is to recruit others and build a sales organization. When you do this, you can earn overrides and commissions from your team members’ sales. Eve found that the most successful Departure reps focus on recruiting and personal selling. Departure’s sales force is organized in a tiered structure with consultants at the bottom, managers and star managers over them, and next various levels of directors, Legacy Executive Directors at the top level. It is more flexibility and more generous commission and rewards for their consultants.

Departure business model is a very lucrative business model for anyone who enjoys selling. Anyone can do it. It is by no means a get rich quick type of business. You have to do the work. You can earn a substantial part-time or full-time income with Departure if you get customers and recruit other. In fact, some people earn a high six figure income with Departure. And others supplement their income, earning a few hundred extra dollars per month by selling Departure on a part-time basis. The biggest Departure market isn’t the United States, it’s successfully exports to China and India.

Departure is quickly gaining ground in emerging markets like India, where the company is nearing its goal of 100,000 women selling everything from the “root keeper” (for Indian bread) to the “miasmal box” (for spices) in major cities and villages alike. Departure entered India in 1996 and has grown there at a compounded annual rate of 30 percent. From a base of zero, Departure has swiftly become a leading seller of kitchenware in India, a category that has grown 12 percent annually from 2003 to 2008, thanks largely to the rise of the country’s middle class.

Indian women almost uniformly preferred to store leftovers in metal containers. Departure had to convince millions of homemakers in the subcontinent to turn their backs on long-held kitchen tradition, creating the market for nonmetal kitchenware. In China, Departure products the company had to opt for a completely different model, it’s selling products through departmental stores. “Departure in China is listed as a super brand. Departure are sold through franchised “entrepreneurial seafronts”, of which there were 1900 in 2005, due to laws enacted in 1998 aimed at pyramid selling.

A compound sales growth rate of 45% achieved over the past decade. One of the biggest franchising retail chain in terms of number f franchisees in China. Currently manage 6 regional branches and 30 provincial offices. The Chinese characters as are used as the brand name, and translate as “hundred benefit”. In conclusion, Departure is one of the most respected companies in our industry. They have a great reputation, an amazing product line, and a fair compensation plan.

Your key to success is to get started, use the products yourself, and spend most of your time looking for new customers and team members. 4. How does a marketing decision support system (MEDS) differ from a marketing information system (MIS)? Why might a marketer want to use an MEDS in edition to an MIS? The Marketing Decision Support System (MEDS) is a program that assists companies in making important marketing decisions. As the marketing environment becomes more competitive the pressure to gain the “edge” over competitors becomes more and more intense.

MEDS are valuable tools to assist in making marketing decisions. Marketing Information System (MIS) is basically a kind of link to facilitate communication between managers across different areas in a business organization. MIS plays a pivotal role in enabling communications across the floor of an organization between various entities therein. A company’s marketing information system generates regular reports for decision markers on what is going on in its internal and external environments. However, sometimes these reports are inadequate.

Different managers may want different information or the problem that must be addressed maybe too vague or unusual to be easily answered by the MIS process. As a result, many companies mix up their MIS with MEDS. An MEDS includes analyses and interactive software that enables marketing managers, even those who are not computer experts, to access MIS data and conduct their own analyses, often over the company intranet. MEDS is an enhancement to the MIS that sakes it easier for marketing managers to access the MIS system and find answer to their questions easily.

MEDS also includes sophisticated statistical and modeling software tools. Statistical software enables managers to examine complex relationships among factors in the marketplace. Although an MIS provides many reports managers need for decision making, it does not meet all their information needs. Most of MIS systems include internal customer transaction databases and many include acquired databases, these databases are extremely large. The terms MIS and ADS stand for Management Information Systems and Marketing Decision Support Systems respectively.

The essential difference between the two is in focus MEDS, as the term indicates, is about leadership and senior management in an organization providing good, reliable Judgment as well as vision MIS, on the other hand, is about focusing on the actual flow of information itself. 5. What is the difference between green marketing and greenmailing? Green Marketing defined as marketing products and services are based on environmental factors or awareness. Companies involved in green marketing make decisions relating to the entire process of the company’s products, such as methods of recessing, packaging and distribution.

The strategy is successful in the marketing world today. Green washing is the process of making their company and products appear to be green. It is the practice of making an unsubstantiated or misleading claim about the environmental benefits of a product, service, technology or company practice. Greenmailing can make a company appear to be more environmentally friendly than it really is. It can also be used to differentiate a company’s products or services from its competitors by promising more efficient use of power or by being more cost-effective over time.

The system largely depends on the public buying the whole game. The word of “GREEN”, is a term used to describe being more environmentally conscious in all aspects of your life. Green contains the powerful energies of nature, growth, desire to expand or increase. Balance and a sense of order are found in the color Green. Change and transformation is necessary for growth, and so this ability to sustain changes is also a part of the energy of Green. Green also implies that the need for reducing consumption, reusing and recycling products, steps that will help preserve the planet for future generations.

The survey f Green Marketing found that consumer perceptions of green continue to change according to various collective definitions and contribute directly to buying decisions. Green marketing is the responsible way to market your products/services by using technology, conservation and minimizing waste. Some examples of great new technologies include blobs, social networking, e-newsletters, and online advertising. These complement the “tried and true” methods of public relations, cause marketing, viral marketing, and other activities that leverage the power of the media, word of mouth marketing and human interest.

Use sustainable marketing for the business, it consists of the whole process of green sales. You have to provide an echo friendly product for sale, in a green manner and maintain a social responsibility at the same time. Add environmental marketing to the projects, it is based on helping the environment as a company markets a green product. It has great success in many areas of business today. It helps leave the world a bit greener than it was prior to the business footprint. Integrate echo marketing in the system, Echo marketing is marketing that demands that a company maintain the standard that the Federal

Trade Commission (FTC – is an independent agency of the U. S. Government) sets forth as law. They have a commitment to using green products and leaving the planet in a better manner then when they begin. Give organic marketing a chance if your product is green, Organic marketing is about using all natural ingredients in the entire process of product creation to packaging and selling a product. Green business marketing is all the rage. As consumers are becoming more environmentally conscious, marketing a green business online is more important than ever before.

Green marketing strategies are made up of many parts, they include notations to consumers already inside the business’ locale, print ads, signage, and also radio and television time. Marketing is a green business everywhere but the Internet is a huge mistake too many store and restaurant owners make. If you have incorporated any form of echo friendly business practices in your daily way of doing business, it is crucial to post the information online. Now that you have developed a plan for taking your business in a more environmentally friendly direction, find a health, fitness, or money angle to go with it.

Your customers will be pappy to learn that you figured out a way to reduce waste or energy use, but they also want to know what’s in it for them. As you take your green business marketing online, list not only your environmentally friendly changes, but also the benefits consumers enjoy as a result. For example, if you run a fast food business and found a way to incorporate some organically grown local produce into your menu, highlight how you are supporting the local economy and how your customers are reaping the benefits of organic tomato slices on their burgers. The tip is combined the “Health with Green”. . How might a company in the BIB market use a private exchange? In the view of sales and marketing, the term business-to-business, it called “BIB”, is a way to describe the transactions that take place from one company conducting commerce with another company. The consumer in these trades is always another business. When a company sells its products and services to the individual consumer, it is referred to in marketing-speak as BBC or business-to-consumer. A private exchange is an exclusive ad marketplace that gives premium publishers complete control over how they sell their inventory.

In contrast with the direct ad outwork relationships of the past, private exchange publishers have full transparency into the buyers and advertisers, and can restrict access to each impression. Typically, buyers on private exchanges leverage programmatic means such as Real Time Bidding (ART). People are interested in examples of what other BIB companies large and small are doing with social media. It is easier to Justify your plans to clients and supervisors by showing successes that other companies have had. Below are two recent examples that have been written about. UPS launches a BIB social media marketing campaign

United Parcel Service, we called “UPS”, the global shipping company, is launching a new “logistics” ad campaign in the coming days to boost its credentials with small businesses by leveraging social media networking power. Catchy ad music aside, this could be one of the best examples to date of social media utilization for BIB. UPS wants to show potential customers its passion for transportation and supply chain solutions, what it calls “New Logistics”. Especially wants to bring the message of growth opportunity to small businesses. It is using a multi-media ad campaign, with an emphasis on digital and social channels.

It has a new website, which says in a press release is designed to facilitate sharing core content, such as customer case studies and tools that bring the benefits of logistics to the life. A company blob is also in the works to liven up the message. The potential customers will be referred to the new official Faceable or Twitter pages, where a variety of media and case studies will compliment the BIB discussions. This is a radical change from the previous unofficial UPS Faceable page, which acted primarily as a complaint forum for disgruntled customers that went unanswered by the company.

The key to UPS online success lies in its ability to make its online social channels a center for discussing business-changing possibilities instead of logistic failures. This may prove to be a bit of a challenge considering the negative nature of the first customer post on the new Faceable page, but it does give UPS the opportunity to directly respond to individual complaints through its social channels. UPS wants to connect primarily with a grassroots community of small business owners or anyone who handles logistics issues within an organization.

Wave reported on BIB in social media in the past, and while we are sure there is a great potential for both buyers are sellers through online social connections, the BIB social media sector is still lagging behind BBC social media marketing tactics. The HASH Business Network To target business entrepreneurs and provide them with an active forum to share and gain knowledge, HASH has created a website as “The HASH Business Network” for both customers and non-customers. It’s evident that the HASH Business Network truly thrives on its members.

This website includes a network of blobs, and also invites members to create their own blob to share their personal experiences with there entrepreneurs. Currently, the network is made up of 148 blobs from members now. The websites homepage is populated with content from the users, the most popular recent blob post, forum post and user profile. A BIB exchange is a unified online platform, where buyers and sellers login to communicate, collaborate and make business transactions. A private BIB exchange, mostly, consolidates suppliers and buyers of a specific company, which owns and operates the exchange. 7.

A large chain amusement park sells tickets at its main gate for guests who are visiting the park for Just that one day. The park also sells seasonal asses that can only be used on weekdays. What market segmentation is being implemented by the amusement park? Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs as well as common applications for the relevant goods and services. Depending on the specific characteristics of the product, these subsets may be divided by criteria such as age and gender, or other distinctions, such as location or income.

Marketing campaigns can then be designed and implemented to target these specific customer segments. Common types of market segmentation include: geographic, demographic, cryptographic and behavioral. Behavioral segmentation is focus on a customer’s attitude toward products and services. Two categories of behavioral segmentation is included the product usage an product benefits. Product usage reflects what products you use and how often. For the example of a large chain amusement park, some individuals may visit amusement parks frequently while others visit them only occasionally.

Frequency of use determines promotional strategies for a market segment. Marketers may want to develop separate promotions for different market segments. One promotion may encourage frequent suitors to continue to visit the park by purchasing a seasonal pass. Seasonal pass refers to a ticket attainable at most amusement parks allowing admission to the park multiple times during a certain period, usually a year. Seasonal passes also gain access to theme parks like Disneyland and Ocean Park in Hong Kong. Seasonal passes have both pros and cons.

With the economy still lagging, many families will have to look long and hard this year to determine if buying a season pass makes sense. Let’s look at the advantages and disadvantages behind this purchase. The most obvious pro concerning a season pass purchase is savings. Used frequently enough, the large up-front investment can bring the per-day price of a lift ticket well below Disney’s daily ticket price. For example: For example, Disney with a HAS$399 daily adult ticket and a HAS$2400 seasonal pass price would require 6. 01 visits before hitting the “break even” point, the purchase of a season pass seems to make sense.

Other advantages include the convenience, no more waiting in the ticket line on a powder day, Just boot up and go. There are also have special celebrations for seasonal pass, such as Free high tea, free dinner buffet, free birthday cake or related unifies during their birthday month. For hotel benefits, you can enjoy up to 25% off for the room reservation, dinning at hotel and some spa treatment etc. There are extremely good value is the free parking. Fortunately, there are alternatives being offered that promise near-season pass advantages without the long-term commitment.

The cons include added cost, for example: expect to pay extra per visit for food. Visitors aren’t allowed to bring food into the park and the prices for food are accordingly high, with at least HAS$OHIO per meal for each person, and the selection is also limited. Drinks tend to be pricey too, up to HAS$20 for a large size of Coca Cola. There is a long line for season passes, especially on Public Holidays, Summer Time or Christmas etc. Sometimes it took over ninety minutes for waiting the Roller Coaster or the game of Winnie the Pooh, you may feel so frustrated after ninety minutes and crowded people. . Why is reselling the customer an important part of the confirmation after the adoption of an innovation? Post purchase behavior is where the consumer holds a positive feedback about the product and happy with the product quality. When there is positive post purchase behavior, he will engage in peat purchases and spread positive word of mouth about the product encouraging others people to buy the product. As an example if the customer is happy with the performance of the mobile phone, he will recommend his friends to purchase the same brand of mobile phone.

Customers exhibit customer loyalty when they consistently purchase a certain product or brand over an extended period of time. As an example, many customers stick to a certain travel operator due to the positive experiences they have had with their products and services. Customer loyalty is the key objective of customer relationship management and describes the loyalty which s established between a customer and companies, persons, products or brands. The individual market segments should be targeted in terms of developing customer loyalty.

Product loyalty is a long-term customer preference for a specific product or service. Product loyalty can be produced by factors such as customer satisfaction with the performance or price of a specific product or service, or through identifying with a brand image. It can be encouraged by advertising. When retail stores introduced new products or new design, the company usually gave away free samples to encourage consumers to try it. Based on the trial experience, some potential buyers will more to adopt the new product. In the adoption stage, a prospect choose the product.

If the product is a consumer or business to business good, this means buying the product and learning how to use and maintain it. If the product is an idea, this means that the individual agrees with the new idea. It is important to note that not all individuals or organizations that first choose an innovation become permanent customers. Some potential customers, even after initial adoption, do not go on to the final stage of confirmation. Marketers need to roved follow up contacts and communications with adopters to ensure After adopting an innovation, a customer weights expected versus actual benefits and costs.

Favorable experiences contribute to new customers becoming loyal adopters, as their initially positive opinions result in confirmation. Of course, nothing lasts forever, even loyal customers may decide that a new product is not meeting their expectations and reject it, or worrying that they paid too much, wondering if they have been ripped off etc. Some marketers feel that reselling to the customer is in the confirmation stage is important. They provide advertisement and sales presentations to reinforce a customer’s choice. There is customer experience more important than product.

Innovators and entrepreneurs know that it’s not Just about making a great product anymore. It’s about building an entire experience around the product. That’s why in recent years, these leaders have honed in on two areas: customer experience design and collaborative platforms. Companies really need to follow this model by focusing on the customer experience as a primary focus instead of the product only. By creating an entire experience, businesses are developing a level of loyalty that oldest be there if it’s Just about the product.

I f companies aren’t helping to drive some of these changes, they won’t get as much value out of IT as they should. Customer experience design is all about building brand values, according to an article on Innovation Excellence’s website. The collaborative platform zeroes in on building engagement and shaping a leadership platform. Of course, since innovators and entrepreneurs have separate goals, their focuses are different. Innovators are more interested in the creative design and experimentation. Entrepreneurs must be marketers who can successfully sell the innovation and make money.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

Therefore, the vacation cruise lines should not continue to dump gray water wastes at sea. Second, the vacation cruise lines can continue to dump gray water wastes at sea but not within the sea boundaries of the island nations. This is because the cruise ships must respect and obey the law of the island nations once they are in the official areas of such nations. 6- What are the economic benefits? In this case, the economic benefits are the cost saving from redesigning the physical layout of the ships for storing waste, the cost of waste treatment, the cost of saving ace of staff and customers for waste storage, etc.

The customers enjoy the 15% to 20% off the price compared with the price when no more waste is dumped at sea. However, it is necessary to consider the potential cost in terms of pollution treatment and the costs of the consequences imposed on the native peoples of the island nations without their consent. 7-What are the legal requirements? The legal requirements in moral analysis refer to the laws adopted by members of society to regulate the behavior of member of that society.

Within the official mandarins of the island nations, which are usually defined as three miles from the nearest point of land, the island nation laws should take precedence? If the ships go beyond the sea of the island nation, the world maritime laws should take precedence. 8- What are the ethical duties? In this case, considering the balance between benefits for some people within the society and harms for other that will result in an overall improvement for the full society, the parties involved in this situation should evaluate the benefits and harms, et a mutual understanding and agree on a solution.

The solution might be reducing the percentage of waste dumped at sea or completely stop dumping such waste. 9- What is your recommendation, and how would you explain your recommendation to the other individuals, groups, and organizations that are going to be affected by that decision if it is adopted? The situation is very sensitive. The company must take consider damage caused by the dumping of waste in the sea of water pollution and reduce water wealth and poisoning sea creatures. Moreover, these actions incompatible with laws and regulations.

The company must redesign the layout of the ship, which contributes to increase the size of tanks to accommodate a larger volume of waste, which contributes to reduce or lack of waste that are dumped into the sea. It will not be through raising the price of the ticket by 15% _ 20% only, but also the company should reduce its profit margin. If the company has such corrective action, it helps improve the company’s reputation with the community, which contributes to increased demand for trips and loyalty to the company.

Such acts are useful for individuals, groups and organizations, as it contributes to the achievement of Interest for all individuals to achieve their own interests that correspond to the interests of the community. Individuals will enjoy with their trips, as well as sellers in the ports sell their products from souvenirs and other goods. Also organizations that operate in the same industry, must take into consideration when designing their own ships to be of great designs and contain large tanks, or even develop purification system helps to re-repeat wastewater, which helps preserve the environment, not to harm others.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

The political and legal environments affect business particularly in the participation of companies in foreign markets and in the respect of the conditions under which the market takes place. Changes in the economic environment affect marketing in regard to economic growth, interest rates and exchange rates movements. Innovation and technological development introduce standards for competition and opportunities for wealth creation in the marketing of products and services. While environmental analysis allows the company to respond to change and to cope with marketing uncertainty.

Porter’s Competitive Advantage Porter’s generic strategic describe how a company pursues competitive advantage across its chosen market scope. There are three generic strategies, either lower cost, differentiated, or focused. A company chooses to pursue one of two types of competitive advantage, either offering a lower price, so enabling them to be price leaders. This position may be achieved through economies of scale, which are likely to be associated with the experience curve effect. (Chemicals, P. And Chemicals, P. (1995). ) or providing greater benefits and services that Justifies the higher price.

It involves efforts by companies to be come identified by their consumers and prospects with specific attributes of their products and services, such as quality, technical back-up services, effective distribution and speedy deliveries. Although the fashion apparel industry is mature and slow growing, it exists in a dynamic and competitive environment. In order to improve profitability, many companies are restructuring to create leaner organizations and adopt new technologies. In the apparel industry, companies can operate as retailers and manufacturers.

For instance Gap, manufactures and markets their own goods. New Look, is a competitive advantage in itself. The name is not attached to any particular group of customers and it allows entry into different segments of the industry. Another competitive advantage is the company’s marketing strategy, through the use of celebrities, promotion and giveaways. The company is able to develop its presence in the market. Moreover, as large companies are experiencing economies of scale, they could also act as oligopolies and increase competitiveness by offering extremely low prices and increase barriers to entry.

Furthermore when retailers do not compete through price competition, they compete through differentiation. Anatolia Chagrin (fashion marketing director at Electra) notes that brands are taking the fast Fabian approach and making it their own by coming up with their own consumer experience. For example, Tops offers personal shopping experiences and companies in France combining fast fashion with high quality fabrics and luxury level services to boost store traffic and increase consumer loyalty.

Marketing Mix Product For a luxury brand like Hermes, there signature bags are very different to buy but products from Ezra are must easy to purchase. Making the goods too easily available might reduce the perceived value of the brand. Packaging, value, quality, branding and design are very important to fashion industry. The pricing in the fashion industry is generally based on the costs of the materials and brand. Price Fashion trade changes every year not matter premium or economy brands..

Brands like Channel and Hermes set up their price base on premium pricing and brands like H uses economy pricing because H mainly focus on quantity not the quality. Place Place is not always a physical building like retail shop but it can also be online shop. For example, SASS is one of the biggest online shopping website in the I-J and it goes not need a retail outlet, customers Just need to order goods online and it will delivery to customers’ address. Promotion Some people think of promotion is only advertisement but advertisement is only one part of it.

Promotion can be direct mail from businesses to consumer for example, like catalogues or news-letters by email or post. In fashion industry, fashion events, sales promotions, public relations, sponsorship, product placement and branding are the common way they used. Technological The technology environment affects a business in a number of ways. In order to stay n competition, capital investment in technology would be taken to lower the cost, flexibility in design, quality and speed to market. (Sinai 2006). For instance, UK retailers such as New Look and George shifted sourcing of their products to Far East for cost control purpose.

Therefore it increased the complexity of supplying merchandises due to the longer distance. By then, some approaches had been adopted such as Just-in time TIT) which improved quality and responsiveness in reduced time without holding lots of items in inventory which might be damaged, stolen or became obsolete. Oust In Time SIT- Strategy Skills Training) Commuter integrated manufacturing (JIM) enhances engineering productivity and quality, also response quicker and shorter supply lines in the market. (Bruce, Daly, and Towers 2004).

As the result, there is an increase in fashionably and choices for the customers by using the low cost approach. Additionally, it enhances the competitiveness, effectiveness and overall performance. Moreover, it has been also important that retailers and producers get as quicker response as possible. Minimizing wasted time results in more flexible supply chains. ( Fernier and Gamma 004) Improving efficiency in a demand-driven market is significant, computer-aided- design (CAD) and electronic data interchange (DE’) are communication technologies which help a business to reduce the lead times. Bruce, Daly, and Towers 2004) This could possibly reduce the complain levels and build a good reputation by delivering the products on time which is a competitive advantage. By using computers, it is more effective as it helps to present ideas clearly with accuracy and less human errors made. Social and environmental The product of fur for fashion has a significant impact on the environment, social and lath. More and more apparel companies and customers have been rejecting fur by boycotting their products since China made the news video of how animals skins were being removed alive. Toxic Fur). It might lead to a fall in demand of fur products as consumers might think the process of getting fur is cruel and merciless. Alternatively, they might consider to purchase synthetic fur in stead of real fur in order to stop trapping animals. In particular, luxury brands such as Airman and Valentine have been avoiding the ethical main issues and their reputations are damaged by the sweatshop scandals. Luxury brands must wake up to ethical and environmental responsibilities) In addition, The production process of fur is likely to cause water and air pollution.

The animal wastes have a high proportion of nitrogen and phosphorus, such excess levels of chemicals will cause a reduction of oxygen levels and fish kills. Air pollution arises from burning of animals’ dead bodies as carbon monoxide (CO), nitrogen oxides ( Knox), sulfur dioxide (SIS) (Toxic Fur) are examples of the air pollutants. The use of animals’ fur by the fashion industry is absolutely far from environmentally friendly. Therefore, luxury brands should be aware of their ethical responsibilities and environmental issues.

Economical Within the broad economic framework in society, government form or agree to industrial and trade policies which mean close collaboration between government and businesses. This collaboration to achieve society’s economic objectives usually involves subsidies, tax incentives, regulations, trade protection, focused credit and certain forms of administrative guidance. (Bradley, F. (1995)) In recent years, government attempt to modernize their economies. This means liberalizing economies and opening them up to competition.

Developing economies and less developed countries generally depend for their income on commodities and raw material. Traditional industries, such as textiles, clothing and raw materials. There are many channels through which the I-J fashion industry makes a contribution to the I-J economy. The contribution includes the following economic impacts. Direct impacts: Employment and activity supported via the fashion industry itself. This includes all stages of fashion production and distribution that physically take place in the I-J. -Indirect impacts:

Employment and activity supported the supply chain, as a result of UK fashion companies purchasing goods and services from UK suppliers. This includes, Jobs supported by the transportation of fashion industry suppliers. -Induced impacts: Employment and activity supported by the process of those people directly or indirectly employed in the UK fashion industry. The British fashion industry is worth $26 billion to the country’s economy, according to the British Fashion Council, while also estimated to support 797,000 Jobs. Employment- number of employees in the fashion retail industry

The UK fashion and textiles sectors as a whole employ an estimated 600 thousand people, making the United Kingdom the third-largest fashion employer in the EX.-27 surpassed only by Italy and Germany. Within a decade I-J employment in the production of textiles, apparel, footwear and leather products decreased from 285 thousand to 99 thousand people in 2009. Great Britain remains a leading center for the manufacturing of clothing and high- quality fabrics, with the clothing and textile industries combined producing EH. 5 billion- worth of goods and employing 1 50,000 people in 2007.

The I-J high street fashion industry is worth an estimated EYE. 5 billion. Len 2009 UK retail sales were over IEEE billion, compared to the IEEE million per annum that designer fashion makes to the I-J economy. The retail sector generates 8% of the Gross Domestic Product of the I-J. Tariffs and bans protects industries, such as the British textile industry, from countries that posted a serious competitive threat. To protect the local industry, the British government impose a quota to limit the quantity imports, and tariffs, putting a tax on foreign goods to increase the price.

Depending on the material demanded by producers, they might change to domestic produce, thus closing the trade deficit. Political Companies have less power of the political factors especially on government influence. Cultures, lifestyle, norms, demographics and population changes are affecting the fashion industry in many different ways. In the United Kingdom, the standard VAT rate is 20% in fashion industry and it have direct influence to the consumer because their need to pay more to consume clothing or shoes. However, businesses do not need to pay import tax in the I-J.

The government also set up few environmental laws and labor law to monitor the industry such as Integrated Pollution Prevention, Emission Trading System, Regulation on registration or Authorization and Restriction of Chemicals. Political can have huge significance impact on businesses. Laws are repeatedly being change in a different way, such as employment law, consumer protection legislation and environmental legislation. Issues such as workers’ right and child labor laws have repeatedly affected the industry, such as Primary, especially if their medical benefits or wages are too low.

This can cause delays for businesses getting their new collection on time. Also, some consumer may stop buying product from countries known for violating child labor laws. This negative image may have direct impact on businesses’ sales and profit. Correspondingly, all the trades from international have to go through the World Trade Organization but there is a special arrangement for clothing industry (The Multi Fiber Arrangement). Businesses also need to labeling garments before they sell their product, like the fiber connect, country of origin, care instructions and flammability.

The EX. already has a number of Free Trade Agreements now so the government policy can affect companies directly. A common government regulation on fashion industry is advertisement law which means businesses need to be honest with there goods. Segmentation and targeting Retailers often segment consumers into different groups by targeting their specific needs and wants. Therefore they conduct market research. A good segmentation and targeting can improve the profit of the company. (peter Doyle 2002) In the fashion industry, we divide the people into two groups: female and male.

For female consumers, they all are different and has their own style and budget, therefore some are willing to purchase more high-end clothing. They are well aware of fashion trends but shop to suit their own individuality rather than relying entirely on the dictates of the season. (fashion segment) In light of this information, the managers can decide a significant marketing strategy. Owning to the development of I-J fashion design, one-to-one marketing as becoming more important. They can segment the customers within the value and needs, so that the management becomes increasingly efficiency. For example, Tops has two lines.

Unique and the mainline. This targets two crowds of consumers, while the older and more well off customers goes for Unique which is more mature and fashion forward. While the mainline Tops is targeted for teenagers where the clothes are relatively cheaper and youthful. Different groups of customers attach different economic value to the solution offered which increases the profit of the company. A increase in price may lead to an increase in the profit margin. They are easy achieved via a good segment of market. For instance, some markets have difficulty raising the price by 5-10%, as some consumers are price sensitive.

However in some markets, is very often not difficult to ease 10% of the price to the customers. ( etc. Luxury goods market). As these consumers are less concerned about the price, but the quality of the good. Moreover a significant segmentation can increase the profit by allowing the company to trade up customers to higher-margin product that can make the company become more and more competitive. They trade the customers’ opinion in a high level. For example, Gap has caught up with the trend and introduced “Geek print T-shirts” to their collection to attract younger customers.

In the target segment, we need to consider the size, growth, potential competition ND capabilities of the business. (peter Doyle 2002)After this the company can set up a significant segment. For example,fashion magazine mogul Vogue considers the size of market according to different cultures of specific countries, therefore they slightly change the context of the book in different area. Like in Asia, Vogue hires Asian models/actresses to be on the cover. Therefore it is nearly impossible to see Christy Texan on the cover like US Vogue. To decrease potential competition, Vogue wisely advertises.

You could easily spot a large Vogue poster anywhere, this allows them attract new customer. Market targeting plays an important role, as it helps the company to gain more market share and gain new customers. Fashion magazines constitute a major consumer product in their own right and contribute to the image and value of the I-J fashion industry. Fashion magazines earn most of their revenues from advertising and circulation. Assessment of the total revenues is mainly based on an estimate of the circulation split between newsstand purchases, subscription purchases and other sales and assumption of a 50/50 advertising [circulation split. Overall, we estimate the total annual revenue of the Auk’s assign magazine industry at some $401 million. This adds to an additional 3101 jobs. Breakdown of UK Fashion Industry SVGA by channel of production Given the importance of brand in the fashion industry, it is important to consider the promotional activities that retailers, in particular undertake in order to boost sales. Spending on marketing contributes to SVGA through creation of Jobs and potential to boost profits. In order to estimate the contribution of marketing, PR and associated activities, it is possible to use the chart above which explains the spending on advertising.