Free Sample: Marketing Management paper example for writing essay

Marketing Management - Essay Example

Marketing management consists of the art and science of selecting target markets, rustically applying marketing strategies and management techniques to get, keep and add customers by creating, delivering, and communicating excellent customer value (Kettle and Keller, 2012). Today, marketing plays a vital role in religion. Religious organizations are, now more than ever, trying to get consumers’ attention. Correlating religion and marketing, consumers are Just as attached to brands as they are to faith. Society is used to having products that fulfill a particular need. That need is the same is expected from faith (Bulk, 2009).

Marketing and religion share a ere thin line and Joshua 1:9 addresses the relationship between the two. The scripture itself is encouraging with the proverbial message to be strong and courageous. In marketing, there are vast amounts of competition and not everyone plays fairly. When this happens, the bible encourages us to not be afraid but to be courageous. God is more interested in the processes used in an activity or business that what the actual motive is. The efforts of someone who has the wrong intention can and often do, result in a blessing. God promised Joshua that he would be with him and the Israelites to fulfill their mission.

Without God, Joshua mission would not have been successful. This scripture reminds us that, Just as in marketing, we will have difficulties, but because God is always with us, we can face them with courage and live a victorious life. Additionally, marketing is vital to all businesses and is very competitive to achieve a great level of success. The businesses may be small like family run businesses, or large, like McDonald’s. Some type of marketing is needed to sustain the business. In marketing, key decisions will have to be made that may be considered risky.

It may lead too business continuing to be successful r it may very well create a setback. Not all business venture attempts will result in a positive outcome. In either situation, the result should never define a person or business but strengthen our faith to believe that other opportunities will come that can garner success. That is where biblical support, from scriptures similar to Joshua 1 provides the necessary foundation to face challenges. No matter what happens, we should know that God is always with us. Moreover, the scriptures provide encouragement for Christians to be honest, and ethical.

Negative marketing should never be a means to provide success. God provides blessings to those who diligently seek him in all matters. In business, many see themselves as fearless corporate leaders. How much courage would it take for a leader to embrace change or view their business in the far future? After the recessions, economists viewed America as having industries that had lost courage and had become cautious and the managers had become careful. Being innovative requires courage. Instilling a climate of courage in a business will lead to more overall business success than having a leadership who lacks courage.

Free Sample: Marketing management paper example for writing essay

Marketing management - Essay Example

The ownership f mobiles and gadgets has become a necessity rather than a luxury. Fast Fix Mobile Services Technology (Fast Fix) was established in 2009. Vision The vision of Fast Fix is to be the leading Service Center along with becoming the leading mobile phones retail outlet. Mission The mission of Fast Fix is to be the leading service center in the Maldives by providing accessible high quality service and products to customers. Fast Fix provides fast services that exceed customer’s expectations making Fast Fix an example to quality and dedicated services.

The company also has the aim to come the leading mobile retail outlet in the country. Principal Activities Fast Fix bas been engaged in Repairing Services of Mobiles, Installation of Mobile Applications and Software and Selling of Mobiles. Repairing of Mobiles The Repairing service of Mobiles provided to the customers is the services which helped the company to gain a competitive edge over its competitors. Fast Fix has a policy of providing customers with a solution within 24 hours. This enabled the company to attract its competitors as well to retain them.

Installation of Applications and Software Fast Fix has established partnership with 23 agents around the world who provides the company with the latest genuine mobile applications and software. This has enabled the company to offer its customers latest applications. Two of the leading mobile phone shops in Maldives (Ell Mobiles and Smart Phones) purchases software from Fast Fix. (Abraham, 2013) Selling of Mobiles Unlike leading mobile shops in Maldives Fast Fix targeted to sell low priced mobiles to its customers along with mobile accessories.

This was mainly because leading companies like Ell Mobiles and Smart Phones were dominating the market. This is an area which Mr.. Hussein has yet to get better off. Financial Performance Since its establishment the business has been successful in terms of return. This period made Fast Fix the leading service center in the market. During this time the company always had a growth rate of profits in between 35% to 45%. Even though the profit margin has reduced in the last year due to the political instability in the country the company continued to make profits annually. Abraham, 2013) Company Objectives The following are the main objectives of Fast Fix: Capture at least 80 % of the market within 10 years Provide the customers quality service at highest speed To provide appropriate training facilities to its employees ; To establish a cordial relationship with its customers Expand services to Selling Smart Phones by 5th Year To gain at least 20 % of the Smart Phone Market by the first 3 years SOOT ANALYSIS Strengths Leading mobile repair service center: The company is already one of the leading mobile repair center in male’, this will attract its existing customers as well as new customers.

Installation of latest software and applications: Already the service of installing latest software and application is given to the customers. This will be an added advantage to the company Knowledgeable and friendly staff: the management will go through great lengths to find people to accommodate already existing qualified staff to give the best services to the clients. Loyal Market: Focusing mainly on the customers’ needs and expectations which build strong customer relationship thus bring loyal customers and loyal marker base.

Weaknesses New in the market: one of the weaknesses will be that the company will be new to the selling of smart mobile phones. Cost of investment: for entering the smart phone market the company will require a heavy investment in capital. Opportunities Excessive demand for smart phones: due rapid changes in life styles of Mammalian’s create excessive demand for smart phones. This gives the company the opportunity so attract customers. Growing market in installment schemes: Installment schemes offered by various companies have enabled customers to offer the latest technologies.

Growth into unexploited market: company can reach the untapped market. Threats Political instability. The country is currently undergoing dramatic changes n government regulations related to trade, financing and taxing laws are not rigidifies and thus it hinders the possibility of planning accurate financial plans. Political Instability: the country is currently undergoing dramatic changes in government regulations related to trade, taxing laws. And also the instability in power has hindered the financial markets of the country.

Economic downturn: the downturn in economy of the world over the past few years has been having negative impacts on local businesses. Small and medium size businesses have been facing gradual negative impacts. Continuous desalination of the economy could mean high inflation rates in the future which could affect the market. COMPETITION ANALYSIS The following highlighted are the two main potential competitors the company will be facing when entering to smart phone markets ell Mobiles Ell Mobiles has become the leading Mobile phones and its accessories provider in the country in the past few years.

It not only provides latest mobiles phones and its accessories it also provides electronic products like Dvd players, flash players, card readers and etc. (ell Mobile, 2013) Ell mobile is renowned as the mobile retail outlet which offers mobiles phones and its accessories at cheapest rates. It offers latest smart phones to the market at reasonable prices as soon as the launch of the product. One of the competitive edge ell mobiles have over its competitors is that it has 2 mobile retail outlets in the main commercial road in Male’.

It enables all the customers to easily access to their shop at their convenience. It also provides minimum repair services to its customers for the product they offer, thus attracting many. Smart Phones Smart Phones is another leading mobile distributor in Maldives. It provides latest mart phones to the market as well as mobile accessories. Smart Phones Company also provides the services of the local telecommunication company Draught.

This attracts customers to the shop as they are able to pay bills or get other telecommunication services from the mobile retail outlet itself. Marketing Strategy STEP ANALYSIS Marketing Objectives Setting a marketing objective is very important to any company as it will determine where the company wants to be in the future. Taking into consideration the above situational analysis, the marketing objectives for Fast Fix are stated below. To achieve 15% of market share by 2015 in Smart Phone retail market.

To gain 20% of growth in the business by 201 5 To make Fast Fix ideal retail outlet for customers by 201 5 To open another retail outlet in the center of Male’ by 201 5 The above mentioned objectives were concluded by taking into account the following aspects: Customers Social trends Economy Competitors Segmentation Market segmentation is the identification and profiling distinct group of consumers with different needs and behavior. The main market Fast Fix can focus into is consumer market looking at individuals.

They are shoppers, working class, and namely youth. Segmentation Bases and Justification is illustrated in the following table: Variables Justifications Geographic City Operations and coverage are only limited to Male’ city area since it has only one retail outlet Demographic Age Income Demand to the product and buying habits will differ from age wise. The youth would most probably choose latest smart phones rather than opting for cheaper options. Purchasing power will vary from each class.

The quality of the smart phone a person can afford depends on income. Cryptographic Lifestyle/values The lifestyle of Maldives is highly influenced by western cultures now. Everyone is excited about owning latest mobiles. It has become a necessity rather than an essential product. Behavioral Benefits A person carrying latest smart phones normally tends to have higher Self Esteem as he feels the recognition it brings. Segmentation profiles are selected as below so the needs of the customers are catered successfully.

Shoppers Working class Youth Male’ Demographic Social class Occupation +20 Above Ref 8,000 Middle & upper Workers/students Above Ref 10,000 Any Job +25 Above Ref 1 5,000 Lifestyle/ values Mainstream Price sensitive convenience Quality sensitive Need based products Hassle free quality products Quality based products Authors compiled work Targeting Strategy Market attractiveness – The growth of the market won’t have a greater impact since the outlet is limited to consumers. Average attractiveness – Relative growth – Fairly high size -High size – Relatively fair growth -Average attractiveness – High size – There are high substitutes available – High competition -Average competition -High substitutes -High competition Company objectives and resources low competitive advantage -Average competitive advantage Positioning Strategy Product value Since Smart Phones are highly demanded customers require latest phones as soon as possible.

Customers would prefer if the they have the option of purchasing at the time of international launch of the product. This will help to create a good image among customers and will attract reputed customers. Positioning strategy The positioning strategy the company will be adopting is the Unique Selling Proposition. It will be offering installment opportunities to its customers. Positioning Map Competitive advantage Fast Fix should understand the target market needs better than the competitors in order to build a close relationship and to be profitable as well.

Free Sample: Marketing Management paper example for writing essay

Marketing Management - Essay Example

Firms can utilize state of the art technology, social media, and mass media advertising so as to be a step ahead of other competitors in the automobile industry. One of which can easily be noticed would be their impressive advertising through televisions and social media sites such as Twitter and Faceable, where they interact and with future potential buyers, answer their queries and promote their products, generating additional customer value and securing the customers loyalty towards them. Fig 2.

Excerpt from Ionians Twitter profile displaying their interaction with consumers by rewetting their consumers’ tweets, forming customer valuation The other technological factors are the environmental, safety, performance and health aspects of technology whereby Ionians employs advanced technology and machinery to ascertain that these features are developed to their superlative capacity (as seen in Fig 3. ), so as to once again attain customer value. Fig 3. Technology used in Ionians Vehicles 2. 1.

LEGAL Countries around the world have their own set of restrictions and implementations established on the basis of their own governmental regulations whereby the firm must function in accordance to I. E taxes, tariffs, environmental regulations and many more. First off, a car’s specifications must be in line within the regulations of the government. Certain governments disallow high performance cars due to the fear that these cars may be utilized for illicit activities to escape from the police or illegal street racing. One example would be the USA government’s ban on the Ionians

Skyline as it is “too fast” (Morris, 2011). Moreover, there are additional specifications to be met such as the Emission Standard- which is employed as a guideline for the maximum amount of pollutants to be liberated to Mother Nature (EPA, 2012). Also the cars have to meet the minimum requirements of the Motor Vehicle Safety Guidelines, which Ionians has responded to by generating multiple Collision Avoidance Systems such as their Intelligence Brake Assist (Ionians Motor Company, N. D) – an apparatus that is generated for the purpose of diminishing the impact of a collision.

These are he prerequisites in which have to be abided if Ionians plans to distribute its products into the market. 2. 1. 6 ENVIRONMENTAL Since the sass, there were various forms of conservation efforts implemented so as to promulgate the awareness of environmental preservation due to the constant emission of pollutants from factories and automobiles. Ionians thus answered with the launch of their new 100% electric car- Ionians Leaf (Passel, N. D). The Ionians Leaf is powered not by fuel, which would lead to harmful gas emissions but by an advanced lithium ion battery that can be charged at home or at power stations Ionians, 2015).

Besides, the Ionians Leaf is constructed from components that are 25% recycled (Hanley, 2014) making it even more environmentally friendly. 2. 2 MARKETING MIX STRATEGIES Fig 4. Chart defining the four Up’s The marketing mix is an essential tool to aid in the analysis and understanding of the strategies utilized in pursuing a company’s marketing objectives. In this marketing mix, we will observe how Ionians employs the 4 As in their sale of the Ionians Leaf. 2. 2. 2 PRODUCT ANALYSIS A product is a good or service that can be purveyed to a market so as to satisfy a need or want.

Ionians manufactures only tangible goods, which are their automobiles. 2. 2. 2(a) LEVELS OF PRODUCT CORE BENEFIT – The Ionians Leaf is the first ever automobile to be 100% electric. This would signify that the automobile does not emit harmful poisonous gases such as carbon dioxide and other fumes that are deleterious pollutants. Consumers who feel that they have a part in conserving the environment would thus seek this car. BASIC PRODUCT – Not only is this car environmentally friendly, the car boasts its instant torque, whereby lagging, rewiring or shifting of gears are unneeded when it comes to tarring up the car.

Furthermore it has an kaka AC synchronous electric motor which enables an incredibly silent drive. AUGMENTED PRODUCT – What many do not expect from this vehicle would be that the vehicle has an average of 84 miles a single charge. Furthermore, the cars handling is increased exponentially due to the lack of gasoline powered machinery and that the battery is positioned under the floor boards, giving it a lower centre of gravity for increased stability. (Nuisance, 201 5) The brakes also act as a dynamo, converting kinetic energy into chemical potential energy that can be stored for later use.

Additionally, there is an included warranty of 100,000 miles or 10 years and a 5 year warranty for the battery 2. 2. 2(b) DIFFERENTIATION In order for a particular product to be unique, it must be differentiated in terms of outward and inward qualities. The Ionians Leaf being the world’s first 100% electric car already speaks for itself. 2. 2. 2(c) BRANDING The name Ionians Leaf originated from the concept of co-branding- Taking the word “Ionians”, the automobile manufacturing company, and combining it with the word “Leaf”, which signifies environmental friendliness, creating a trademark. . 2. PRICE ANALYSIS Price is the monetary value of the good, in this case the Ionians Leaf, which consumers exchange in return for the good itself. Particularly in Ionians, they utilize product line pricing where the price of the good is approximately linearly related to the function of the good. For example, if a car is a 7 seated car it would be more expensive than a 4 seated car with the same product specifications and functions. However for the case of the Ionians Leaf, Ionians has come up with considerably attractive prices, with prices as low as $21 ,400.

Furthermore government subsidies on he Ionians Leaf would lead to an increase in demand for the product (The Guardian, 2011). Knowing that there will be a huge demand for this product and that this product is significant in the market due to its availability and uniqueness, the price elasticity of the product will be relatively inelastic between O and -1 . This means that a change in price will lead to a less than proportionate change in quantity demanded of the good. Nevertheless, knowing this, there are many individuals out there who are indifferent towards the environment.

Hence, price sensitivity comes into play. Too gig a price would lead to consumers thinking that the cost is over-priced, whereas too low a price would lead to consumers believing that the product is not of a good quality. Thus perceived value pricing kicks in where companies must set a price whereby consumers think the price is worth its quality. Moreover, the price of the Ionians Leaf would most probably be considerably lesser than its competitors as this time Ionians is introducing a economical green car to users, so as to promote environmental conservation. 2. 2. PLACE ANALYSIS Marketing channels are areas which the main company utilizes to distribute their odds, making it available and accessible for consumers. In this case, Ionians employs both direct and indirect distribution. Ionians is very fortunate to be based in Japan, the primary export hub in Asia, targeting further export to the rest of the world. Fig. Showrooms of Ionians around Singapore Direct channels are the main headquarters where Ionians has their own showrooms where consumers can enter and purchase directly from. Next, the indirect channels are areas where Ionians does not own showrooms.

Here, Ionians utilizes their authorized dealers, cleverly placed at major cities and towns to strengthen their allergies network (Basin, N. D) by an analysis of the major channel alternatives- types, number, and responsibilities of intermediaries. However, authorized dealers sell the product to consumers at a higher pricing so as to attain a profit. Consumers exchange convenience for cost at areas like these. 2. 2. 5 PROMOTIONAL ANALYSIS Advertising is a paid or non-paid form of persuasion and promotion of goods, in this case the Ionians Leaf.

Before the creation of any advertisement, Ionians has to analyses, evaluate and plan the ms: Mission, Money, Message, Media and Measurement. The Ionians Leaf is the world’s first ever 100% electrically powered vehicle. Ionians made a statement that the average Ionians Leaf purchaser would be a young college graduate Baby Boomer around the age of 45 years old with the average annual income of $125,000, has his own garage space and drives around 50 miles a day (Gordon-Bloomfield, 2010). Having said that, it is apparent that Ionians is attempting to appeal to a wider public through a change in their preconception of the Ionians Leaf.

The aim of this campaign was to showcase to the world what would happen if the automobiles were all 100% electrically powered, Just like the Ionians Leaf. James Dive, an Australian artist, worked together with Ionians to create an artwork displaying the transformation of petrol bowers into other useful environmentally friendly objects. This campaign utilized integrated marketing communication techniques through the digital media, social media and PR campaigns, such as websites blobs, news articles and auctions to deliver their message.

Furthermore the name of the campaign itself already draws attention towards it as the general public would be unable to picture a petrol-less futuristic world. Moreover the campaign appeals to the environmental concerns of the audience and even public relations were built through continued interactions with the public such as asking them to vote for their favorite exhibit at the campaign. 3. 0 CONCLUSION In a nutshell, in order for a firm to be successful, they must thoroughly analyses and be prepared for unforeseen circumstances that may or may not damage their business and know how to respond when the time comes.