Marketers do not decide a brand’s ultimate meaning

Marketers do not decide a brand’s ultimate meaning, consumers do

Order Instructions:

The essay topic is as follows:
“While marketers do their best to imbue brands with positive, motivating values and associations,
marketers do not decide a brand’s ultimate meaning. Consumers do – and sometimes they find
relevance, purpose and significance that the brand’s creators may not have seen or intended.
DISCUSS”. – Dorothy Fitch, global analyst, Millward Brown

This is an essay based on scholarly journal article research, theory and critical evaluation/synthesis (not
mere description). You must support your answer with a minimum of 8 journal articles (can be peer
reviewed or otherwise but must be from sources classified as Journals). The essays upper word limit is
2,500 words. There is no minimum word limit. The upper word limit is strict. NB. The word limit does not include; title page/cover page, sub-headings, reference list (it does include in-text citations), appendix.

Notes:
• A minimum of 6 journal articles. Penalty of 20/100 marks applied if this criteria is not met.
• Full Harvard author-date referencing is required (in-text citations, and reference list).

SAMPLE ANSWER

P Morgan once stated that understanding a client inside out is essential in meeting and anticipating their various needs, finding solution to their problems and making them aware of opportunities that they would otherwise not have found on their own (As cited in. Simpson, & Licata 2007, 311). This statement is the reason why there is increased strategic marketing and product branding among organizations and business entities to maximize profitability (Simpson, & Licata 2007, 315). Focus among organizations, therefore, is in coming up with marketing and branding strategies that will appeal to consumers and lead to increased purchases, which will in turn lead to higher profit margin. To achieve this, marketers are left with the daunting task of coming up not only with the best marketing strategy, but also with unique brands that motivate and bear positive values to the consumers (Hudders, Pandelaere, & Vyncke 2013, 394). The challenge with such marketing and branding strategies, however, is that consumers and their spending habits are the most difficult things to understand. Consumer behavior is motivated by several psychological, environmental, and situational factors (Antonetti & Maklan 2013, 117), that assuming their response to a particular brand of product would not only be irrational, but a serious marketing blunder. Other factors such as self-concept, consumer attitude and social influences also play a vital role in positioning the consumer to have the ultimate say in a brand’s image, effectiveness, satisfaction and eventual success (Ward & Dhan 2014, 591). Marketers should, therefore, focus on marketing, and leave consumers to decide on the actual meaning of the brand and establish positive brand associations by themselves (Halt 2002, 71). This is because consumers may derive benefits, and even attach value to a particular brand that marketers had not even intended. With consumers being the final decision makers with regard to brand identity and viability, this paper shall critically analyze marketing and branding strategies and concepts organizations use to lure customers, theories about consumer perception and brand association, in order to prove that marketers have little, if any, role to play in determining how consumers perceive, value, associate with, and use a particular brand, because consumers are in control of the use and identity and significance of a product, as posited by Dorothy Fitch.

To influence consumers’ product consumption and increase profitability, most organizations resort to marketing and branding. Marketing refers to the process of satisfying the demands of customers by identifying what they need, anticipating what they require and satisfying such requirements (Hanssens, Rust, & Srivastava 2009, 115). This, therefore, puts the task of strategic marketing to marketers, since they play the important role of ensuring sustainability in organizations, customer satisfaction and putting organizations in a competitive edge in comparison to its competitors (McCausland 2009, 101). Marketers play several strategic roles in sustaining customer satisfaction and ensuring profitability through increased sales. First, marketers perform market research and evaluate trends in marketing, dynamics involved in consumer needs, consumption attitudes and market efficiencies so as to guarantee competitiveness (Franke, Keinz, & Steger 2009, 111). Second, they play a key role in designing of products, research on efficient production methods and labeling. They also initiate strategic paths that their organization should follow so as to improve the organizations brand in terms of value, its perception among consumers and positive brand association. In their strategic marketing role, marketers should always be aware of the fact that consumers are varied with different motivations, social status, personalities and other unique consumer behaviors that affect consumption (McCausland 2009, 103). While marketer play a key role in ensuring that products penetrate the market and reach the market they have targeted, they have little control on the level of significance that that brands of products they are marketing bear on the target consumers (Naghiu 2011, 129).

Consumers sometimes make their consumption decision based on their knowledge about a particular brand and their expectation about a particular brand are varied (Juscius, & Sneideriene 2013, 794). Branding, a process that rests in the hands of marketers, refers to developing products to possess attributes that appeal to human nature, so as to make them unique, appealing, and valuable to consumers (Juscius, & Sneideriene 2013, 794). Branding aims at building brand equity, and creating features in product so that consumers feel emotionally attached to the brand. There are two branding strategies that marketers use to brand their products, and these include manufacturers branding and branding through a private label. Branding has several functions and roles such as providing a means by which organizations communicate with their customers, through customizing of organizations product to match consumer expectations (Hanssens, Rust, & Srivastava 2009, 118). It builds credibility of an organization’s products and services with time since credibility takes time to build, and branding also provides the connection between the product and the consumer by generating customer loyalty. Branding also tries to provide the motivation that consumers need in order to consume a particular product. The challenge for marketers here, is that various consumers are motivated by various needs, some of them psychological (Naghiu 2011, 128). The major reason for branding is to create products that can lure consumers simply because of the intangible attributes they possess including status, quality, quality and convenience. These features that are associated with the product are non-physical, and are influenced by strategic decisions that marketers take such as price and product. Marketers therefore can influence few elements of a product’s brand, but cannot influence the consumers’ attitude, perception, and level significance that the brand bears on them (Juscius, & Sneideriene 2013, 797). This is where marketers’ role stop and consumers control over the impact of a brand begins since they are the ones who ultimately decide whether to buy a product or otherwise (Whan, MacInnis, Priester, Eisingerich, & Iacobucci 2010, 9). Success therefore depends purely on the consumers since while marketers may have considered all the possible factor to make a brand easily identifiable by consumers, chance of misinterpreting the customers need are certain because consumers can be irrational spenders, motivated by various factors ( Zaichkowsky 2001, 51). Marketers therefore should know that their efforts in establishing brand association and relationship among consumers they have targeted may yield little fruits, if any, since consumer behavior is driven by several physiological and psychological factors.

Since consumers are instrumental in determining the success of product branding, it is important to look at consumer behavior, in particular how they make their decisions, their brand perception variations and what really motivates them to behave the way they do. Various factors have been documented that try to gain an understanding of consumer behavior patterns and decision making. These factors include situational factors such as the location where the organization’s stores are located, influences consumers decision to purchase a product since if they perceive the location to be located in inconvenient or not so easy to reach places, they may be reluctant to travel all the way just to buy the product in question. They may opt for a substitute even if it is of lower brand quality simply because it is accessible. The layout of the physical factors that are in the organization’s control also influence consumption decisions because consumers tend to be lure by attractive physical structures (Whan, MacInnis, Priester, Eisingerich, & Iacobucci 2010, 7). There are also certain physical factors that are beyond the control of organizations but affect the consumption patterns of a consumers. For example, very few individuals will be willing to buy a product in rainy seasons, companies that deal with umbrellas for instance only get market during rain seasons while the same rainy season means bad news for those running beach rests and hotels. Personality and self-concept also have a bearing on consumer consumption, with little effect of marketing strategies intervention and branding. Different consumers have different personality types that have greater bearing on their consumption patterns that marketers may not be aware of (Naghiu 2011, 131). We have consumers who traits such as extraversion, agreeableness, open, neuroticism and conscientiousness. All these presents a concept about the self and greatly affect consumers purchasing behavior, in a manner that marketer cannot. For consumers who have whose personality trait is openness, for instance, are likely to respond to organizations claims about the benefits of a particular brand more positively than consumers who are, say, neurotic. Again research show that consumers with extravert personality trait are more likely to easily spend their money on a particular brand more readily. Perception theories have also attempted to explain the various points of views that different consumers hold about a singular brand of product (Franke, Keinz, & Steger 2009, 114). Consumer perception with regard to consumer behavior refers to consumer perceive or look at things using their five senses. Perception theories try to find the reasons behind consumers’ opinions about their products or organization. The perception theories are vital to marketers because it enables them to come up with brands that are likely to appeal to the consumers, so that they may retain the current customers, and possibly lure more, through designing product features that are likely to appeal to the target consumers. Self-perception, which is how consumers view and think about themselves, and focuses in particular, on customers values, needs, expectations, and motivations that influence their buying patterns or behaviors (McCausland 2009, 105). For example, a consumer may buy a particular brand of product not because of its popularity or quality as marketers may have intended, but they may buy if simply because his friend buy the same product, or may not buy it because some people have bought it.

Psychological needs cannot be ignored where consumer behavior is involved. From a physiological point of view, consumer have various needs such as physiological needs that include hunger and thirst, the need for safety and security, the need for personal esteem, the need to attain self-actualization and the need for belongingness. Consumers can thus prefer a particular brand of product because he associates the product with being safe, or perceives the product to be capable of fulfilling his needs. The need to belong is especially influential especially among the young consumers, because they tend to be influenced easily by peers (Juscius, & Sneideriene 2013, 799). These are called reference groups and much of consumer consumption behavior is influenced by such reference groups because consumers tend to influence each other. This therefore implies that marketing strategies have little impact in determining or giving meaning to brands, especially where such reference groups are powerful.

These perception variations and motivations influence consumers’ behaviors. Marketers, as key players in designing brands of products, usually consider these psychological needs, safety needs, social needs and self-actualization needs (Franke, Keinz, & Steger 2009, 117). These needs have to be satisfied and they are the reason behind the irrational consumption patterns of consumers. This irrational consumption is the reason why even strategic marketers may not be accurate in coming up with brands that are certain to appeal to consumers. If a brand appeals to consumers as a result of a marketer’s input, it is usually more out of chance than design. It is argued that in the marketing arena, the only common thing is the constant change in consumer tastes and references. It is in this regard that marketers tend to carry out extensive market research to try to establish the trending needs and market preferences. What is more, while consumers are the ultimate determinants of the suitability and quality of a product, they initially do not always know what they want until it is developed. This presents a difficult puzzled to producers, who have to fight to satisfy superficial needs (Naghiu 2011, 134). Dorothy’s statement is true in its very nature, since marketers may develop a product based on facts gathered from a series of market research, but end up producing the wrong thing. Could it be argued that the qualification of a new product in the market is purely a subject of chance? The answer to this question begs for a deeper and more comprehensive understanding of the dynamics of consumer behavior.

In conclusion, marketers play a very vital role in branding of products and influencing consumers’ purchasing habit through focusing research on the motivations behind consumers’ consumptions, motivational factors behind such consumptions and the needs that consumers usually try to fulfill that drive their consumption patterns. This has tremendous effect on the organizations profits and sales volumes. However, when it comes to consumers developing brand identity and brand associations, the forces in play are purely from the end of the consumers. Consumer needs are hard to understand, and so despite extensive research, it would be difficult to gain a comprehensive understanding as to what make consumers adopt somewhat irrational buying patterns in existence. It is, therefore, safe to assume that when it comes to brand association, brand identity, brand design, and benefits derived from particular brands, the consumers have greater determining power because no marketer or marketing and branding strategy can fully satisfy the spontaneous, changing irrational needs of consumers. This statement only means that consumers are usually the kings of every product developed and marketed by an organizations, and it is imperative that producers develop products with the consumer in mind, since they are the final determinants of brand identity and ultimate quality.

References

Franke, N, Keinz, P, & Steger, C 2009, ‘Testing the Value of Customization: When Do Customers Really Prefer Products Tailored to Their Preferences?’, Journal Of Marketing, 73, 5, pp. 103-121.

Hanssens, D, Rust, R, & Srivastava, R 2009, ‘Marketing Strategy and Wall Street: Nailing Down Marketing’s Impact’, Journal Of Marketing, 73, 6, pp. 115-118.

Hudders, L, Pandelaere, M, & Vyncke, P 2013, ‘Consumer meaning making’, International Journal Of Market Research, 55, 3, pp. 391-412.

Juscius, V, & Sneideriene, A 2013, ‘The research of social values influence on consumption decision making in Lithuania’, Economics & Management, 18, 4, pp. 793-801.

McCausland, WJ 2009, ‘Random Consumer Demand’, Economica, 76, 301, pp. 89-107.

Naghiu, M 2011, ‘The psychological implications behind the marketing strategies that aim to predetermine costumer’s behavior’, Review Of Management & Economic Engineering, 10, 2, pp. 127-135.

Simpson, P, & Licata, J 2007, ‘Consumer attitudes toward marketing strategies over the adult life span’, Journal Of Marketing Management, 23, 3/4, pp. 305-326.

Ward, M, & Dahl, D 2014, ‘Should the Devil Sell Prada? Retail Rejection Increases Aspiring Consumers’ Desire for the Brand’, Journal Of Consumer Research, 41, 3, pp. 590-609.

Whan Park, C, MacInnis, D, Priester, J, Eisingerich, A, & Iacobucci, D 2010, ‘Brand Attachment and Brand Attitude Strength: Conceptual and Empirical Differentiation of Two Critical Brand Equity Drivers’, Journal Of Marketing, 74, http://www2.owen.vanderbilt.edu/dawn.iacobucci/articles/JM2010-brands-w-CW-Joe.pdf

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Marketing in the 21st Century Essay Paper

Marketing in the 21st Century

Order Instructions:

It Is important for the writer to note that for this paper, he will have to respond to section A and then in section B he will combine the orders with references 111677, 111725,111768 and will also include section A at the end of the paper before the final conclusion and references list in APA 6th edition format. The writer must pay attention to details and properly arrange the paper base on the instructions giving below. The writer will also use the resources giving below to respond to SECTION A, the article mentioned to be read for section A is in the resources below.

SECTION A ( 1 page)

Marketing in the 21st Century

Once again, you will utilize articles listed in the Resources section to explore the different topics for your Research Paper. In this section, you will find a series of questions pertaining to each article. You do not have to answer the questions directly, but they are included to guide you in discovering the type of information that you need to complete the research paper.

For this week, read “Horizontal Innovation Networks: By and for Users” by von Hippel. After reading the article, consider the following questions:

• Is user-generated innovation good or bad for a company?

• If user innovation can happen independently of manufacturers, how can companies incorporate customers into their new product development process?

• How should companies manage their marketing mix variables in the era of personalized marketing in order to generate and sustain competitive advantage?
Using the information you have read, and any other outside resources that you have found, consider how these topics relate to the overall subject you are addressing in your paper. Remember to refer back to the main task of this paper, which is to describe how you believe the usage of the individual marketing mix variables is likely to change in the future and what companies must do to adapt their marketing approaches in order to achieve competitive advantage. In particular, focus on the following aspect:

– What must companies do to manage their 5Ps in order to harness maximum competitive advantage both globally and online?

SECTION B

Combine all of your information from the previous papers with the following references orders 111677(revise Copy), 111725, 111768 including section A. And organize it in a logical manner, with distinct sections and headings. Begin by briefly summarizing the conclusions you reached through your research, while setting your conclusions in the context of leading theory and practice in the marketing field. You should have a minimum of seven references to peer-reviewed scholarly journals in addition to the articles found in each of the papers for the past 3 weeks.

Also take note that you must arrange the paper starting by Begin by briefly summarizing the conclusions you reached through your research, while setting your conclusions in the context of leading theory and practice in the marketing field. Follow by the papers in the references in this order 111677, 111725, 111768 and then you will also include the SECTION A or this order before concluding the paper. All references must be included in APA 6th edition format.

Resources to use for SECTION A

Articles
• Kohn, K. (2005). Idea generation in new product development through business environmental scanning: The case for Xcar. Marketing Intelligence & Planning, 23(6/7), 688–704. doi:10.1108/02634500510630212

The author of this article introduces the concept of using business environmental scanning to generate new product ideas.
• Pecotich, A., & Ward, S. (2007). Global branding, country of origin and expertise: An experimental evaluation. International Marketing Review, 24(3), 271–296. doi:10.1108/02651330710755294

In this article, the authors investigate the issues faced by marketers in an international marketplace when they attempt to establish global branding, while also taking into consideration a rise in nationalism.

• Shang, R., Chen, Y., & Liao, H. (2006). The value of participation in virtual consumer communities on brand loyalty. Internet Research, 16(4), 398–418. doi:10.1108/10662240610690025

In this research, the authors study lurkers and posters in virtual consumer communities to determine if they could be used as a tool to understand brand loyalty.

• Sinisalo, J., Salo, J., Karjaluoto, H., & Leppaniemi, M. (2007). Mobile customer relationship management: Underlying issues and challenges. Business Process Management Journal, 13(6), 771–787. doi:10.1108/14637150710834541

In this article, the authors introduce a framework for companies to use in developing effective mobile customer relationship management.

von Hippel, E. (2007). Horizontal innovation networks: By and for users. Industrial & Corporate Change, 16(2), 293–315. doi:10.1093/icc/dtm005

In the new world of Web 2.0, there is an increase in the number of user innovation networks and the author of this article suggests conditions under which such networks can flourish.
• Anderson, J., & Billou, N. (2007). Serving the world’s poor: Innovation at the base of the economic pyramid. Journal of Business Strategy, 28(2), 14–21. Retrieved from Business Source Premier database.

The authors of this article discuss the challenges of reaching customers in developing nations who often have limited income. They then suggest possible approaches to effectively serve this market.

Nijssen, E., & Douglas, S. (2008). Consumer world-mindedness, social-mindedness, and store image. Journal of International Marketing, 16(3), 84–107. Retrieved from Business Source Premier database.

As communication technologies are more widely adopted, consumers are able to access information on products, as well as global, social, and ethical issues. The authors of this article develop measures of how this free-flow of information impacts consumers’ views of corporations and whether this type of information influences purchasing decisions

SAMPLE ANSWER

Marketing in the 21^st Century

Introduction

In the 20^th century, the marketing strategy was based on television, radios, magazines, and newsletters. The technological revolution has changed everything in marketing drastically. People are adopting the revolution where things are done smart but not hard with limited resources at a very short period. The introduction of the computer is perhaps the source of this the change. While the generation 20^th century could only receive information when they listen to radios and TVs, the generation of 21^st century sees the information whenever they are through the phones. In that manner, the there is a move from traditional ways of advertisements to online ways of marketing. This project champions the move from analogue to digital marketing and what the companies need to do to become relevant in the future competitive market.

Online retailing

Online retailing has emerged as an important retail force as consumers are purchasing online. It is now up to the conventional offline retailers to respond. In order to establish a clear difference from retailers that have offline stores, online retailers should lower their prices below the prices that offline stores ask for the same products (Chinta, 2006). This will allow price conscious consumers to take full advantage of the cost savings which could at times be considerable. Online retailers need to offer a wide variety of selection – seemingly endless selection – that offline retailers may not be able to provide. Online retailers should ensure the convenience of online shopping by enabling buyers to make a purchase of any item in seconds from the comfort of their homes (Francis, 2007).

Online retailers should also allow shoppers to compare the features and prices of their products instantaneously. Online information capture is generally more frequent and detailed. Click stream data gives complete information on how a customer shops, whilst virtual shopping carts serve as loyalty cards that capture the purchase habits of shoppers (Strzelec, 2011). Therefore, online retailers can actually increase their sales simply by targeting repeat purchases basing on individualized content of each consumer. More importantly, online retailers can extract behavior data of consumers to turn abandoned shopping baskets and/or switching decisions into operational indicators of how to stock products and serve shoppers (Chinta, 2006).

For retailers with physical stores that intend to also establish themselves online, their strategies should be to provide new services such as buy-online pick-up-in-store, in order to keep pace with preference of the shoppers. Francis (2007) pointed out that having a physical offline store wherein shoppers can engage with a product before ordering the product actually boosts demand as well as revenue. The online store would encourage consumers to align themselves with the channel that serves them better – be it online or offline – therefore optimizing the experience of the customer and reducing costs for the business (Gregory, Karävdic & Zou, 2007). Offline stores/retailers can take their brand to the web and realize immediate recognition and trust. It is of note that this value is actually true for the existing shoppers as well as aware shoppers who look for the benefits of the personalized, intimate experience and the more informative buy (Wong, 2008).

Retailers with physical stores should seamlessly integrate their channel offerings simply by introducing online shopping perks to the offline, in-store consumers. For instance by (i) allowing the shoppers to pick up online orders from the company’s physical, brick-and-mortar location; (ii) Providing free Wi-Fi. (iii) By offering in-store access to the company’s online catalog; (iv) developing an app that allows the buyers to scan product bar codes and read online reviews, and (v) accepting mobile payments through the in-store point of sale system (POS) of the company (Griffiths & Howard, 2008). In essence, companies that can seamlessly integrate offline and online offerings would be the most successful.

Globalization is essentially a trend that is typified by denationalization. Globalization has influenced marketing trends in that increasingly more companies are engaging in business-to-customer and business-to-business e-commerce that necessitates the use of online marketing strategies to attract buyers and improve sales (Nelson, Cohen & Rasmussen, 2007). Basically, the multinational firms that make use of e-commerce more intensively, engage in a wide range of e-commerce activities compared with companies that are less global.

Personal Marketing

When the term marketing is used the first thing that comes to the minds of many is advertisements or other related promotional activities conducted by the manufacturer and distributers of a product with the aim of reaching as wide an audience as possible. In light of this widely accepted view of marketing, the concept of personalizing the process seems at best alien and completely out of place. Personal Marketing however does just that. Marketing has gradually been moving from a product or price orientation to a more customer- centered process. Personal Marketing is the preparation of a product’s design, packaging and promotional activities in a manner that is targeted at an individual consumer rather than the masses. This can therefore be said to be the highest form of customer-centric marketing. This is because the marketing efforts are geared towards enticing a specific prospective or current consumer to purchase a specific process. This is different from market segmentation or the creation of a niche market. With personal marketing the target is the individual and not a group of individuals with similar characteristics of importance to the marketer (Vesanen, 2007).

Personal view of Personalization

According to me, personal marketing is a company’s way of reaching out to an individual client whose purchase or purchases will bring about considerable benefits to the organization. For such companies the power of customers is very high in the Porter’s Five Forces analysis. The transactional behavior of individual customers has a direct impact on the turnover of the business entity. It is a marketing strategy that needs to be prudently carried out by individuals who have the perfect mix of product knowledge, creativity and persuasiveness so as to ensure the objective of this promotional activity is realized. If this mix is achieved proactively, personal marketing is sure to succeed where conventional marketing has failed to yield fruit. It is important to note that the individual in this context is not necessarily an individual. It may also be a corporate client whose purchases are carried out between the entity of the company and the customer as two parties.

Impact of Personal Marketing to Companies

Personal Marketing is bound to benefit companies since it helps to bolster the relationship that they have with their customers. On the part of the customers satisfaction will increase and this improves their perceived value of the product thus leading to more purchases. This then translates to higher turnovers and increased profits for the companies engaging in personal selling. The fact that communication between sales persons and the customers is two sided means that there is a provision for immediate feedback which is quite important to the product developers and sales department.

The development of personal marketing

The first step that firms need to do in developing personal marketing strategies is to understand the needs and value systems exhibited by specific customers. Since the marketing is being formulated to suit a specific customer, it is important to ensure that the product in question meets all of these needs. These include issues like the quantity, quality standard, timing, pricing, payment schedule, usability of the product, frequency of deliveries and any other special aspects of the products that will be relevant to the customer being targeted (Balabanis and Diamantopoulos, 2008).

Pricing in Personal Marketing

When it comes to the pricing of products in personal marketing, it is necessary to employ dynamic pricing over fixed pricing. This is because the customer is treated as an individual and the price plays a large part in this process (Garbarino and Lee, 2003). A customer may be willing to make bulk purchases so long as the price is within their budget. Other customers will also determine value by basing it on the price of the product whereby higher prices suggest greater value. This is particularly important when goods or services of ostentation are involved. At times the goods being marketed are not necessarily luxurious but highly specific such as military hardware for a specific government’s army. In such a scenario the price set will depend on the economies of scale that will be realized by the customer’s orders as well as the budget (Calantone and Di Benedetto, 2007).

Degree of price discrimination applicable

The most appropriate approach to price discrimination is the third degree of price discrimination (Avlonitis and Indounas, 2007). This price discrimination method is favorable for personal marketing since the basis for the setting of the price is based on the customer’s preferences, geographical location and other subjective factors that can only chance from entity to entity. As stated above, personal marketing is meant to tailor the promotional effort in such a manner that elicits a positive reaction on the part of an individual customer rather than an entire group of potential customers. Third degree price discrimination will be the result of the back and forth communication between the sales department and the specific customer. The price will be set in such a manner that it strikes a compromise between the profitability goals of the business and the ability and capacity of the customer in question.

Mass Marketing Versus Personalized Marketing

The articles “The Continuing Power Of Mass Advertising” by Paul Nunes and Jeffrey Merrihue(2007) and “Word Of Mouth” by Cater Reigner (2007) provides a comparative analysis of personal and mass marketing through online and traditional channel. Although the researches of the authors were independent, their researches focus gives a sufficient outlook of the current literature which evaluates the effectiveness of traditional and new marketing strategies that currently dominate the markets.

One of the common questions asked in the consumer environment is the trend of the mass advertising. Is mass advertising dead in the era of personalized marketing? The reports of both authors tend to move to one line of thought when assessing the prevalence of mass marketing and the personalized one. Both authors acknowledge the movement and the prevalence of personalized marketing. The use of technology has facilitated the use of personalized market to a high degree in very short period. Havlena, Cardarelli and Montigny (2007) note that the use of social media, emails, and phone have allowed individuals to interact with consumers one-on-one. A study carried by Nunes and Merrihue (2007) reveals that the Y generations are the most buyers in the market and are the ones that are “digital” minded. It means that the focus of marketing shifts to them. Keller (2007) posits that the Y generation argues that use of web-based marketing is easy and fast as you can talk to the sellers unlike mass advertisement on TVs and newspapers.

On the other hand, Nunes and Merrihuel argue that it still early for the mass marketing to die. The authors say that it will take considerable years for the mass marketing to disappear. In their research, they revealed that the new venues have not interrupted the traditional venues for getting the advertisements. The study revealed that common venues of advertisement are still 97%; this includes television, radio, print, and billboards. Hence, the fact those traditional venues still dominate the market assures the continuity of mass marketing. Additionally, Nunes and Merrihuel argue that a small percentage of markers are ready to purchase the tools for web based marketing which seem to be expensive and are among the strategies the companies can use to shift from traditional to personalized marketing. They have to create web page for the products, programmed machines that responds to individual requirements, and addition of staff to respond to each individual. Moore and Pareek (2009) add that most of the consumers are not acquainted with some of the technologies hence they have to be taught through campaigns.

Both authors agreed that the web based marketing has got high prevalence as a marketing strategy. The major reason for the high prevalence is the interpersonal communication between the consumers and the marketers. One-on-one communication assures the customers on the need and benefit of the products (Keller, 2007). It gives the marketer an opportunity to use his/ her skills to convince the buyers on the importance and the advantages of the products. Ryan and Jones (2009) describe interpersonal communication as a tool that assures the customers of the products. According to Keller (2007) products will not sell unless the customers have the information about them. Therefore, the customers only decide after getting the information through promotion that intensifies when there is interpersonal communication. As such, it is the customers that have the powers to lift the company after getting the knowledge about the products.

Managing market mix

As the world goes digital, the companies need to employ the same pace as the technological revolution. As said by Kohn (2005), to compete in this competitive world, all the 5Ps (product, price, promotion, place, and people) are very important for the company to remain relevant in a particular industry. As such, they have to be tactical to overcome their rivals or competitors. Hippel (2007) says that one of the most important factors in 5P is the promotion. He defines it as another form of advertisement that allows consumers to know more about the product.

As discussed before, the online way of advertisement remains very vital in passing information that all companies should adopt especially in future where the world will have Y and Z generation alone. These generations are digitally minded hence they should be focused on since they are the future buyers. Through online advertisement, marketers will have the opportunity to communicate to the consumers. Through communication, price and place where an item is needed will be identified. Additionally, through communication, marketers will get the feedback from the customers about their products; as such, the 5Ps shall be managed. Pecotich and Ward (2007) posit that the future companies will only maintain the market mix through marketing and advertisement where the customers can have enough information of the company and its products (Sinisalo et.al., 2007). Therefore, right approach for every organization will depend on the marketing strategy of the product, strength of their brand, and the extraneous market that the marketing is aiming. According to Hippel (2007), the product will only sell after the information is on the market. In that manner, to manage the market mix, product value whose information is in the market becomes a necessity.

References

Avlonitis, G., & Indounas, K. (2007). An empirical examination of the pricing policies and their antecedents in the services sector. European Journal of Marketing, 41(7/8), 740–764

Balabanis, G., & Diamantopoulos, A. (2008). Brand origin identification by consumers: A classification perspective. Journal of International Marketing, 16(1), 39–71.

Calantone, R., & Di Benedetto, C. (2007). Clustering product launches by price and launch strategy. Journal of Business & Industrial Marketing, 22(1), 4–19.
Garbarino, E., & Lee, O. (2003). Dynamic pricing in Internet retail: Effects on consumer trust. Psychology & Marketing, 20(6), 495–513

Chinta, R. (2006). Retail marketing trends in USA and their effects on consumers and the global workforce. Business Renaissance Quarterly, 1(2), 65–80. Retrieved from ProQuest Central database

Francis, J. (2007). Internet retailing quality: One size does not fit all. Managing Service Quality, 17(3), 341–355.

Gregory, G., Karävdic, M., & Zou, S. (2007). The effects of e-commerce drivers on export marketing strategy. Journal of International Marketing, 15(2), 30–57

Griffiths, G., & Howard, A. (2008). Balancing clicks and bricks – strategies for multichannel retailers. Journal of Global Business Issues, 2(1), 69–76. Retrieved from ProQuest Central database

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Journal 1: Marketing Plan Part A: Executive Summary

You will create a fictional start-up company that serves the U.S. market with a product or service.

Write a one to two (1-2) paragraph journal entry in which you:

Provide a detailed description of your company. The description should include, at a minimum,

the company’s name, its history, founders, business purpose, and mission.

Describe, in detail, the product or service the company produces or services. Include trademark,

color, shape, packaging, labeling, and any characteristics that you deem relevant.

Note: Upon completion of the journal, fill out the “Company Overview” section in the Marketing Plan

Template, located in Week 1. Next, insert the information from the completed Journal 1 entry into “Section 1: Executive Summary” within the provided Marketing Plan Template.

Journal 2: Marketing Plan Part B: Targeting Customers

You will now consider who your customers are and identify your market segment.

It is vital that you clearly identify your target customers within your marketing plan. Knowing your target

customers will help you to:

 pinpoint where you should spend your advertising budget

 the type of campign you intend to run, and

 ensure that your marketing message speaks the customer’s language (based on their needs and

wants, demographic, location, ethnicity, etc.).

Write a one to two (1-2) paragraph journal entry in which you:

Analyze the business customers / clients that you wish to target. Your analysis should include,

but not be limited to, their:

demographic profile (e.g., age, gender, ethnicity, etc.)
psychographic profile (e.g., interests, routine, habits, etc.)
profession (e.g., income, occupation, education)
geographic location (e.g., country, region, city, rural, urban, climate)
precise wants and needs as they relate to the products and / or services you offer.
Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as

academic resources.

Note: Insert the information from the completed Journal 2 entry into “Section 2: Targeting Customers” in the provided Marketing Plan Template (located in Week 1).

Journal 3: Marketing Plan Part C: Unique Selling Proposition

You will now complete your secondary market research and consider what distinguishes your company

from your competitors, their products, and / or the price of their products and services.

Use the Internet to research your customer demographics and market segment from Journal 2. Consider

what you think you know versus what you know to be true based on research from reports, publications,

course content, etc.

Write a four to six (4-6) paragraph journal entry in which you:

Describe your unique selling proposition (USP). Next, explain the key aspects of your business,

products, or services that make them unique when compared to your competition (e.g.,

Southwest Airlines’ USP is providing customers with low airfare without compromising service

and comfort).

Describe the marketing objectives of your company. Your marketing objectives should, at a

minimum, address potential customer profile and market segmentation. Explain the manner in

which you conducted your secondary market research.

Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as

academic resources.

Note: Insert the information from the completed Journal 3 entry into “Section 3: Unique Selling

Proposition” in the provided Marketing Plan Template (located in Week 1).

Journal 4: Marketing Plan Part D: Pricing and Distribution Strategy

You will now consider your company’s strengths and weakness, along with your product or service price.

Use the Internet to research strategies for conducting a Strengths, Weaknesses, Opportunities, and

Threats (SWOT) analysis. Based on your company’s market information, consider the strengths and

weakness of your company and its products or services.

Write a four to six (4-6) paragraph journal entry in which you:

Determine the key strengths and weaknesses of your company, as well as both the primary opportunities and threats that it faces within its industry.

Discuss your critical steps within your supply-chain and operational system. Explain the key

aspects of your strategies for producing and distributing your products and services to both your stores and customers. Determine whether you will use an outside vendor or complete the work in house.

Analyze the company’s pricing strategy relative to its pricing objective. Examine major internal and major external factors that could potentially affect the pricing of the company’s products or services.

Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.

Note: Insert the information from the completed Journal 4 entry into “Section 4: Pricing and Distribution Strategy” in the provided Marketing Plan Template (located in Week 1).

Journal 5: Marketing Plan Part E: Distribution Plan and Promotions Strategy

You will now consider mechanisms by which your customers will purchase your products and / or services

(e.g., online, storefront, direct sells) and the primary manner in which you intend to reach new customers

(e.g.,TV, radio, social media, special events).

Consider the marketing materials that you intend to use. According to the textbook, marketing materials are collateral used to promote your business or products. Promotional strategy may include free trial offers, money-back guarantees, and buy two (2) for the price of one (1) type of deals.

Write a five to seven (5-7) paragraph journal entry in which you:

Determine the distribution strategy relative to your target market, location, and selection of distribution channels. Indicate whether or not you will leverage the following strategies:

use stores located in different regions
sell online
hire a sales team to sell directly to suppliers and door-to-door
Recommend three (3) strategy options that you could use in order to get your product or services out to your customer base.

Outline your main marketing goals for promotions, offers, and giveaways. Discuss the key types of marketing materials that you intend to develop and share.

Propose three (3) action steps that you can use to move your plan forward. Consider how, when, and who will be involved in the execution of this plan.

Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.

Note: Insert the information from the completed Journal 5 entry into “Section 5: Distribution Plan and

Promotions Strategy” in the provided Marketing Plan Template (located in Week 1).

SAMPLE ANSWER

Company Overview

Owner(s):	Prof. Sebahatin Blunt & Dr. Menzies Macadam
Company Name:	Revmi Technologies Inc.
Product Name:	Smart Rear View Mirror
Location:	New York City
History (yrs.):	Three years

Section 1: Executive Summary

Revmi Technologies Inc was incorporated on 5^th February, 2010 to carry out the business of designing, developing and marketing advanced automobile technologies in the United States of America. The target market for the innovative products is the rich and super rich members of society since these products are aimed at enhancing automobile comfort and security of users and prevent car accidents. The business idea was conceived after research findings from a research study done by Prof. Sebahatin Blunt indicated that the largest corporations in USA are owned and controlled by a small number of wealthy entrepreneurs compared to the rest of the American population. In addition the research found that these wealthy individuals make decisions that determine the quality and quantity of food on the table of millions of American families and their decisions also generate tax revenues that fund important government projects. In other words this special class of Americans controls a huge part of the economy and should therefore be protected and accorded the best comfort possible to make them generate even better ideas for the future growth of the American economy. Professor Blunt found that the loss of one or more of these top business leaders cost their companies a lot of money while seeking for suitable replacements and most found it difficult to find someone with similar ideas and vision. The founders of the company are Prof. Sebahatin Blunt & Dr. Menzies Macadam and are both renowned scholars having written many articles on motor vehicle safety and comfort features. The two entrepreneurs, who are both American citizens, met in a conference in Japan organized by major motor vehicle manufacturers to discuss recent developments in motor vehicle safety and struck a friendship. The company’s flagship product is a Smart Rear View Mirror which is revolutionary in many ways. The mission of the company is to enhance the safety of motorists by providing smart rear view mirrors that improve the safety of motorists while driving on American roads.

Product description

The flagship product for Revmi Technologies Inc is a Smart Rear View Mirror. The mirror will eliminate drivers “blind spots” that are dreaded by drivers’ especially on busy highways and which have been a major cause of accidents on many roads in America. With continued growth in the economy, many Americans own cars which lead to a major nightmare on roads as drivers try to change lanes especially on roads with many lanes. The smart rearview mirror is aimed at eliminating blind spots thereby making it easier for drivers to change lanes without the danger of being hit by vehicles at the rear and which are moving at higher speeds. The 16-inch mirror will eliminate drivers’ blind spots by providing a 180- degree view of vehicles following at the rear of a car. Current standard rear view mirrors provide about 52-degrees view which create large driver blind spots. The mirror size is also designed to reduce headlight glare by over 50% and enables drivers to see adjacent vehicles until they are visible in their peripheral vision. The mirror will provide a distortion-free-reflection across a highway with as many as five lanes. The mirror weighing 10 ounces only will be attached easily by clamping on the existing mirror in the vehicle. The mirror is developed with a special 4:1 aspect ratio Liquid Crystal Display (LCD) which is fitted inside the mirror and linked to a 6.2-megapixel camera fitted at the rear window glass of the luxury vehicle. At the touch of a switch the images taken by the camera will be viewed in a flash on the mirror which will convert to a screen in a row. The camera will take large clear pictures and will be invisible to rear car drivers. The camera will take pictures at the pressing of a switch fitted on the car steering wheel. This will enable the driver to take a picture of a suspicious car or object in the car’s rear and display it on the mirror. This will enable him to inform the police if he deems that the security of the car and its occupants are in danger. At the touch of a switch fitted on the steering wheel the screen will revert to a mirror and continue providing a 180 degree view of the vehicles on the rear on the vehicle. Viewing of pictures will be timed that it will take a very short time to ensure it does not deter the driver’s view of the rear of his vehicle. The pictures will also be sending automatically to an email address for viewing at a time convenient to the owner. A picture of the mirror fitted in a vehicle is shown here below.

The smart rearview mirror enables a driver, without turning his or her head, to continuously monitor adjacent vehicles when changing lanes or merging lanes as it provides a 180 degree panoramic view. The color will be customized according to the desires of the buyer and /or designed to fit well with the main color of the car. Packaging of the product will be designed in such a way that it provides protection in shipping and storage. The outer cover will be made of heavy gauge plastics which will be thermoformed with varying degrees of rigidity to suit the needs of shipping, storage and the time it will take on the shape before being purchased. The packaging will be designed to securely protect the mirror while shipping or movement across the country. The packaging will be as per the picture below

The plastic casing will be thermoformed with varying degrees of rigidity to ensure that it is hard enough to withstand rough handling, accidental banging on hard surfaces and/or dropping on the hard floor. The transparent material will enable customers to view the product while inside he packaging material to avoid repeated touching as that may damage the electronic equipment and camera. The product will be labeled using the most modern labeling style that will enhance the company product’s image in the market.

Section 2: targeting customers

The target customers for the Smart rearview mirror are the rich and the super rich in USA. The reason why this is the ideal market segment is because the product is not necessarily a necessity for motorists but somewhat a luxury to have. Many motorists can still use standard rear view mirrors that come fitted in many ordinary vehicles to drive to their destinations (Fripp, 2011). The smart rearview mirror is targeting those consumers who are particularly sensitive to their personal security while on roads and those who are likely to be targets of extortionists, criminal gangs, blackmailers and kidnappers due to their status in society and wealth they control. This category is mainly made up of the rich and super rich. According to Forbes magazine the net worth of the richest Americans in 2013 was $2.29 trillion. By conservative estimates close to 10.2 % of all Americans as at 2012 were millions and the number keeps on rising (http://www.forbes.com/forbs-400/). This means that among every 10 American cars on the road at least one is a millionaire. The target market is composed of this class of Americans; the millionaires, multimillionaires and billionaires. This is the class of people who could be persuaded to purchase the revolutionary Smart rearview mirror (Fripp, 2011).

Demographic profile

Demographic profile is used to describe the market segment that the company will target. The demographic profile will determine where advertising will be done and when to achieve maximum impact and achieve sales targets (Hubbuch, 2013). The average age of the targeted customers will literary cut across all ages but will mostly be concentrated between the ages of 35 to over 80 years old. This is the age group that has risen to the pinnacle of their careers and control substantial wealth. The gender of the target market is both male and female and is mostly those who own their own homes and most are chauffeur driven. The target market is quite mobile and is found in all major towns of America. The targeted customers are educated and they enjoy above average incomes in a year. They literary own the prime land and property in the whole of America (Shi, 2011).

Psychographic profile

Psychographic profile of the target customers will assist the company to better market to the target market. Psychographic profile of customers refer to their lifestyles and looks into the interests, activities and opinions of the target customers. The information will be used to design effective advertising strategies that will ensure the target market is reached. Most of the targeted customers control huge economic resources and most would want to give back to the society. Most of these customers like patronizing exclusive clubs and spots. They also consume fine things that life can offer (Hubbuch, 2013). They are sensitive to changes in technology, lifestyle and security threats. They are well informed, knowledgeable and have an opinion on major issue in the world. They influence government policy and have friends in government. They are likely to join politics at one point in their life and therefore their public image is of paramount importance. Knowing the psychographic details of customers will help the company to design targeted advertising to reach customers who might be interested in purchasing the company’s flagship product (Hubbuch, 2013).

PROFESSION

The targeted customers are found in all fields of human endeavor. They lead flagship companies and institutions in banking, social sector, healthcare, entertainment, tourism, education, security etc (Hubbuch, 2013). Most of the targeted customers are the leaders in their industries and make strategic decisions that influence the institutions that they lead. The targeted customers hold leadership positions such as those of chief executive officers, chairmen of boards, owners of companies, directors, chief security advisors, leading scholars and eminent personalities (Hubbuch, 2013).

geographic LOCATION

The targeted customers are located in each and every bustling town and city in America. They are to be found in exclusive spots and clubs. They frequent high end entertainment spots and live in exclusive estates. They own prime real estate properties and live in high class estates exclusively populated by the rich and influential in society (Hubbuch, 2013).

Wants and needs

With increase in terrorism threats and general rise in crime in many states the rich feel particularly targeted. There is a general rise in the number of kidnappings and some are undertaken on the roads. The rich and super rich are generally worried at what would happen to their wealth if something was to happen to them. They are concerned about the security and safety of their loved ones when they leave their houses (Hubbuch, 2013). Since most of their homes and offices are secured by top of the range security systems, their main worry is how to enhance their safety while on the roads. The smart view mirror will meet this need as it will ensure that they monitor every vehicle that will be following them and even take pictures of the occupants and sent to the police if they feel their security is at risk. Products are generally aimed at meeting needs and the need in this case is safety and security while driving on major highways and roads (Hubbuch, 2013).

Section 3: Unique Selling Proposition

Unique Selling Proposition (USP) describes a unique message about a company versus the competition which is used over and over again in promotions, advertising and marketing communication. The Unique Selling Proposition will assist the company to focus on what its business is all about (Stimmel, 2007). The unique selling proposition for Revmi Technologies Inc smart rearview mirror includes the fact that the mirror system will be sold through online methods. The company will sell the mirror through online retailing methods. Clients will be able to order online and the product will be delivered by the company distribution vans at their door step using the address they provide. The company will also partner with large online supermarket chains such as Amazon.com to sell its products. The next selling proposition will be the degree of road safety and security that the rearview mirror system will offer to users. This will be a major USP since the rich are constantly looking for ways to enhance their security and safety while on the roads (Merritt, 2011).

marketing objectives

The main marketing objective of the company will include attaining a market share by 30% in the target market and grow revenues by 30% each year. To do this the company will target the American citizens who have millions or billions in their possession. The company will sell a product that will enhance the safety of this special class of people and which will enable them to identify suspicious vehicles and people who may be trailing them and thus provide them with an opportunity to inform the authorities. The secondary research to establish the availability of an adequate market was done through internet based sources. References of the articles are provided in the reference section of this report (Hubbuch, 2013).

Section 4: Pricing and Distribution Strategy

strengths, weaknesses, opportunties and threats (SWOT)

Strength, Weaknesses, Opportunities and Strengths (SWOT) analysis is one of the tools that organizations use to create a competitive advantage. Revmi Technologies Inc used SWOT analysis to position itself in the target market (http://www.mindtools.com/pages/article/newTMC_05.htm ).

Strengths

Revmi Technologies Inc strengths include the fact that it has a well established distribution network and strategy that it can leverage to grow revenues. The next strength is that it has patented its technology which will enable it to generate competitive advantage. The next strength is that it has built a good reputation among international rating agencies that will enable it to secure funds to expand from financial institutions. The other strength is that it has an experienced and talented workforce and is managed by professional managers with a passion and vision for the business (Jupesta, Harayama &Parayil, 2011).

Weaknesses

One of the weaknesses of the company is that it is still young in the business and therefore has not built adequate switching barriers to ensure it retains its clients (Haider, 2013). The other weakness is that it has not built its own distribution channels and will leverage established supermarket chains who may not give its products special focus (Jupesta, Harayama &Parayil, 2011).

Opportunities

The major opportunity is that the company is poised to reap from increase in wealth of the rich who will definitely look for ways to enhance their safety and security. It has been found that as the economy continues to pull itself from the recession the major beneficiaries are the rich. The next opportunity is that the company will easily attract the attention of major security organization such as the police, the armed forces and spy agencies which will offer a very large market for the company to meet. The other opportunity is in using its dynamic and experienced work force to develop winning strategies (Hubbuch, 2013).

Threats

The main threat that the company faces is intense rivalry that is likely to follow as a result of the possible success of the company in the industry. The other threat would be the slow pace of the product uptake. Previous entrants into the sector performed poorly and made many customers doubt similar products. Some previous entrants produced rear view mirrors which were too blurred by rear vehicles headlights at night whereas cameras used previously were too small to take useful pictures. It will take a while to make substantial sales but when that happens the company will grow very fast especially due to word of mouth. The company will use its strengths to overcome its weaknesses and take up emerging opportunities while at the same time militating against threats ((Jupesta, Harayama &Parayil, 2011; Haider, 2013).

supply-chain and operational system

The company will use the just in time inventory management plan in its supply-chain. This will ensure that it does not hold a lot of funds in its inventory that may affect other important functions that the company will be undertaking. The company will use value chain analysis to ensure only activities that add value are actually implemented. It will ensure lean synchronization is upheld to eliminate wastage in its operational system. The company will use a direct channel through its online distribution platform (Hubbuch, 2013). In this channel, customers will have an opportunity to place an order in the company’s website after which the product will be delivered directly to the registered address of the customer. The company will also use indirect distribution using renowned distribution channels such as Amazon.com. The company in this case will partner with the distribution companies to sell its product through their channels. The company will manufacture its flagship product from its factory in New York. It will set up distribution stores in major towns in USA from which it will supply customers in the town and surrounding environs (Hubbuch, 2013).

pricing strategy

Pricing strategy is the process of setting objectives, determining the available flexibility, developing strategies, setting prices and engaging in implementation and control. Pricing is a very important marketing mix variable as it contributes directly to the profitability of the firm. Price will also be used to enhance the image and quality of the product as it is argued that price and the quality of a product are directly related. Price decisions can impede or enhance the marketing strategy. The pricing objectives will consistent with other marketing mix variables. The pricing decisions will however ensure the prices set exceed the average unit costs (Febrianti &Ariffin, 2013). The company will use psychological pricing strategy to create customer price perceptions to have a special appeal to the target market. The company will deliberately set high prices to imply high quality. The target market is not people who are likely to take too much interest on price as their concern will be the quality of the product. If the company prices it too low then the product will be viewed as of inferior quality. The factors that will influence the company’s pricing decisions include; cost of production, perceived quality of the product, the kind of consumers, the government, channel members and competition (Barnett, 2011; Klapper & Oetzel, 2011).

Section 5: Distribution Plan and Promotions Strategy

distribution strategy

Distribution relates to “place”, one of the Ps of marketing. Distribution creates a link between the manufacturer and the customer. Good distribution systems are important in ensuring that customers get the right products at the right time. Distribution logistics is very wide and covers areas such as retailing and retail management, stores management, selection of warehouse location, and transportation. The company will use direct and indirect channel of distribution. Through its own website the company will receive orders and transport the products to customers after receiving a confirmed order. The company will also use indirect channels such as Amazon.com etc which are renowned throughout the country. The target customers will be located all throughout the country and online distribution whereby customers are sold to directly will be the most ideal. However, due to the fact that the company is relatively new it will partner with large online stores to move its products while at the same time advertise through their websites (Helms & Nixon, 2010).

marketing goals

Promotion is basically the communication component of marketing and marketers use it to communicate to customers about their products. It is often said that one can have a very good product which is marketed at a very competitive price, but it will not attract customers unless it is properly communicated to the customers through promotion. Indeed, the sales philosophy is built on the premise that customers will not just buy a product because it is there. They need to be persuaded to buy. They need to be reminded to buy and so on (Hubbuch, 2013). The promotion mix is comprised of advertising, personal selling, sales promotion and publicity. The company will use the unique selling point as the basis for designing the marketing message. The message will be carried in all forms of promotional activities. The main marketing goals for promotions will be to create a need for this type of product and once that is created, market the product as the one best suited to meet the need (Hubbuch, 2013). This need can be said to be latent which requires the company to really convince the target market that it is very important that they urgently address it. The company will offer money back guarantees if the product fails and will also offer a long warranty period in which the company will replace a defective product at its own cost. The company will carry out intensive promotion activities through television, print and leading journals that the rich are known to read (Kanagal, 2013).

action steps (conclusion)

The action steps are as follows;

No	Action	Department	Officer responsible	Proposed completion date
1.	Hire qualified personnel	Human resource	Human resource manager	15^th, December 2014
2.	Secure funding	Finance	Finance Manager	30^th October, 2014
3.	Rent factory premises and acquire production machines	Production	Production/factory Manager	15^th January 2014
4.	Design and approve the packaging and labeling	Marketing	Marketing manager	31^st January, 2014
5.	Set price for the product	Finance/ marketing	Finance and Marketing manager	31^stJnauary 2014
6.	Design and create website for online distribution	Information Technology (IT)	IT Manager	5^th February , 2014
7.	Sign product distribution agreements with large online retailers	Legal	Legal manger	20^thFebruary, 2014
8.	Set promotion budget	Marketing	Marketing Manager	28^th February, 2014
9.	Roll out promotion activities and distribution	Marketing	Marketing Manager	31^st March, 2014

Reference list (APA format)

Barnett, M. (2011). PRICE PERCEPTIONS: Is your pricing strategy costing you customers?

Marketing Week, , 12-16. Retrieved from http://search.proquest.com/docview/848829828?accountid=45049

Febrianti, R. A., &Ariffin, S. D. S. (2013).The influence of product differentiation and pricing

strategy on customer value in appreciating traditional batik. International Journal of Innovations in Business, 2(4), 395-415. Retrieved from http://search.proquest.com/docview/1435824786?accountid=45049

Fripp, Patricia,C.S.P., C.P.A.E. (2011). Targeting your customers. Print Professional, 49(2), 19.

Retrieved from http://search.proquest.com/docview/853042623?accountid=45049

Haider, H. (2013, Dec 17). Abu dhabi bond for dual listing on ADX approved by

SCA. McClatchy – Tribune Business NewsRetrieved from http://search.proquest.com/docview/1468523487?accountid=45049

Helms, M. M., & Nixon, J. (2010). Exploring SWOT analysis – where are we now? Journal of Strategy and Management, 3(3), 215-251. doi:http://dx.doi.org/10.1108/17554251011064837

http://www.forbes.com/forbs-400/

http://www.mindtools.com/pages/article/newTMC_05.htm

Hubbuch, C. (2013, Jan 06). Marketing 101: More than just a message. McClatchy – Tribune

Business News Retrieved from http://search.proquest.com/docview/1266530760?accountid=45049

Jupesta, J., Harayama, Y., &Parayil, G. (2011). Sustainable business model for biofuel industries in indonesia. Sustainability Accounting, Management and Policy Journal, 2(2), 231-247. doi:http://dx.doi.org/10.1108/20408021111185394

Kanagal, N. B. (2013). Promotions as market transactions. Journal of Management and

Marketing Research, 13, 1-13. Retrieved from http://search.proquest.com/docview/1444014409?accountid=45049

Klapper, D., & Oetzel, S. (2011). Optimal pricing strategy for quantity discount promotions.

Marketing, 33(3) Retrieved from http://search.proquest.com/docview/1321357218?accountid=45049

Merritt, L. (2011). DIGITAL STRATEGY – TARGETING: VIEWPOINTS. Marketing Week, ,

Retrieved from http://search.proquest.com/docview/845425986?accountid=45049

Shi, H. (2011). Three essays on distribution channels and pricing strategy.(Order No. 3479342,

University of Illinois at Urbana-Champaign). ProQuest Dissertations and Theses, , 112-n/a. Retrieved from http://search.proquest.com/docview/901233243?accountid=45049. (901233243).

Stimmel, A. C. (2007). Unique selling propositions: Why you need one today. Office World

News, 33(5), 28-28,30. Retrieved from http://search.proquest.com/docview/214933125?accountid=45049

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Bottom of the Pyramid Markets Research Paper

Bottom of the Pyramid Markets

Bottom of the Pyramid Markets Research Paper

Order Instructions:

For this paper it is critical that the writer include specific examples and ideas in the respond to the three main points been raised in this paper, and also the writer must clearly respond to each of the point .

Bottom of the Pyramid Markets

The bottom of the pyramid (BOP) market refers to the four billion people in the world who live on less than two dollars per day. These individuals are typically found in less developed countries. According to World Bank projections, the population of the BOP markets could increase to more than 6 billion people by 2050.

Some people suggest that BOP markets are not viable markets. Most people in the BOP markets live in rural villages or urban slums, have very low literacy rates, and usually do not hold legal title or deed to their assets. They are also hard to reach via conventional marketing channels or promotional vehicles.

Despite these sobering statistics, several articles and books have been written about the abundant market opportunities available in the BOP markets. These authors claim that managers of multinational companies are socialized to dismiss automatically the BOP markets because they judge the market solely based on income or selections of products and services appropriate for developed countries. They urge the managers of these multinational companies to go beyond the usual market opportunity recognition paradigms and meet the challenges posed by these BOP markets, challenges such as how to balance between low cost and high quality considerations in order to reap benefits in these BOP markets.

After reviewing the resources for this week, respond to the following:

• How should multinational companies manage the challenges posed in new product development for BOP markets?

• What are the ethical and strategic implications of marketing to or not marketing to these populations?

• How would this marketing differ from international marketing to more traditional populations?

• Be sure to include specific ideas and examples in your response.

Resources

Readings

Course Text
• Marketing Management
Chapter 20, “Introducing New Market Offerings”

This chapter describes the new product development process and how to most effectively market a new product or service.

Chapter 21, “Tapping into Global Markets”

This chapter discusses the challenges involved in doing business in a global market and outlines how companies can best develop international marketing programs.

Articles

– Anderson, J., & Billou, N. (2007). Serving the world’s poor: Innovation at the base of the economic pyramid. Journal of Business Strategy, 28(2), 14–21. Retrieved from Business Source Premier Database.

The authors of this article discuss the challenges of reaching customers in developing nations who often have limited income. They then suggest possible approaches to effectively serve this market.

– Nijssen, E., & Douglas, S. (2008). Consumer world-mindedness, social-mindedness, and store image. Journal of International Marketing, 16(3), 84–107. Retrieved from Business Source Premier database.

SAMPLE ANSWER

Products from various markets that are delivered to the bottom of the pyramid segment have been increasing steadily. Multinational companies have found it easy to penetrate these customers despite them encountering a lot of challenges. The challenges faced by these multinational companies in their bid to venture the market include: non-existence distribution channel, corruption, poor infrastructure, war and even lack of robust and enforceable legal frameworks (Anderson & Bilou, 2007). The companies to some extend faces racial conflict, and end up facing enthusiasm from other companies who serve poor people and they are mostly stifled by violent in surgeries. Some companies have developed unique products with the heart to deliver them to their consumers despite others unable to do so due to insurmountable challenges. These companies have improvised strategies of dealing with these challenges which include experimentations, which involve the delivering of service propositions and unique products to most of their world needy consumers. These multinational companies have been able to curb these challenges by taking the responsibility of serving the poor and in return they even gain significant profits in such businesses. Moreover, these companies have also been able to be successful despite the mentioned challenges because they are affordable in the sense that they make their products and services that can within the reach of the bottom pyramid segment (Rhyne, 2009). These companies are well accepted by the people and are aware of the challenges faced by the poor people and so they have an easy time in their dealings.

The choice of operating or not operating at the bottom of the pyramid segment has ethical implications for both the businesses and their clients (Nijssen & Douglass, 2008). Ethically, a business should be in a position to serve their clients, regardless of their social ladder and their physical location. Customers are more sensitive to environmental challenges, and they are informed about the income gap between the rich and the poor in developed and developing countries where they can’t enjoy rights of good wages to be able to climb up the pyramid. It is the responsibility of a business not to neglect any portion of the population and serve all their customers equally. Moreover, it is advisable not to sacrifice the welfare of others because all clients are important in one way or another and those who have should share with those who are challenged by earning low salaries that keeps them at the bottom of the pyramid. The dignity of people should be the most important aspect of any society whereby their welfare is to be considered so as to ensure that they are not always at the bottom of the pyramid.

There is a great challenge of distributing products to the bottom of the pyramid due to lack of established infrastructure that can promote the transport and communication to such persons (Kotler &Keller, 2011). This is a great challenge since it is proved that companies need to improvise better methods of goods distribution to the locals whereas on the other side of international marketing goods are easily availed to the consumers easily. Many customers at the bottom of the pyramid are very much inaccessible to the media where they can get to see product advertisement and so only the one at the top of the pyramid get access to media hence familiarize themselves with many products (Prahalad, 2006). Many people in developing countries survive on daily wages and so money to them may be a problem and this makes them not to be able to afford goods the same way those at the top of the pyramid do. With regards to international marketing, infrastructure is already in place for businesses to exploit and this makes it very easy for them to reach their clients. Moreover, international marketing differs from the bottom of the pyramid marketing in the sense that the former fetches high prices per unit of goods sold.

References

Anderson, J., & Billou, N. (2007). Serving the world’s poor: Innovation at the base of the economic pyramid. Journal of Business Strategy, 28(2), 14–21

Nijssen, E., & Douglas, S. (2008). Consumer world-mindedness, social-mindedness, and store image. Journal of International Marketing, 16(3), 84–107

Kotler, P & Keller, K. (2011). Marketing Management, 14^th edition. Prentice Hall

Prahalad, C.K. (2006).The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits. Wharton School Publishing; 1 edition

Rhyne, E. (2009). Microfinance for Bankers and Investors: Understanding the Opportunities and Challenges of the Market at the Bottom of the Pyramid. McGraw-Hill; 1 edition

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Mass Marketing Versus Personalized Marketing

Order Instructions:

Its important that the writer address all the points listed below and pay close attention to details when responding to the questions. He need to read and understand the instructions listed hear below and use the listed articles to complete the paper as require.

Marketing in the 21st Century

Once again, you will utilize articles listed in the Resources section to explore the different topics for your Research Paper. Below, you will find a series of questions pertaining to each article. You do not have to answer the questions directly, but they are included to guide you in discovering the type of information that you need to complete the research paper.

With the widespread adoption of the Internet, consumers have found it easy and convenient to obtain information and to share their concerns, ask questions, and obtain answers from third party sources. An example of this is the consumer forums at edmunds.com, established for individuals interested in purchasing a car. Also, online forums and blogs that incorporate customer feedback have developed, leading to increased information for the consumer.

For this section, read “The Continuing Power of Mass Advertising” and “Word of Mouth on the Web: The Impact of Web 2.0 on Consumer Purchase Decisions.” After reading each article, consider the following questions:
• Is mass advertising dead in the era of personalized marketing?
• What should companies do to manage this proliferating word of mouth information generated on the Web and incorporate it in their strategies?
• Is the balance of power shifting from companies to the customer?
• What are the commercial implications for companies’ promotional decisions?

Using the information you have read and any other outside resources that you have found, prepare a summary (2 pages) of how these topics relate to the overall subject you are addressing in your paper. Remember to refer back to the main task of this paper, which is to describe how you believe the usage of the individual marketing mix variables is likely to change in the future and what companies must do to adapt their marketing approaches in order to achieve competitive advantage. In particular, focus on the following aspect:
The commercial implications of interpersonal communications between and among consumers on the Internet and how this affects the development of a viable business model and the product development process.

Resources:
Articles
• Nunes, P., & Merrihue, J. (2007). The continuing power of mass advertising. MIT Sloan Management Review, 48(2), 63–71. Retrieved from Business Source Premier database.

With an increased focus on more personal marketing, the costs to businesses have risen. The authors of this article identify four different strategies that companies can use to effectively reach broad groups at a relatively inexpensive cost and then give specific examples from current businesses to illustrate the strategies.

Riegner, C. (2007). Word of mouth on the Web: The impact of Web 2.0 on consumer purchase decisions. Journal of Advertising Research, 47(4), 436–447. Retrieved from Business Source Premier database.

By conducting a study of over 4,000 Internet users, the author of this article sought to determine the effects of consumers communicating with one another purchasing decisions.

Articles
• Havlena, W., Cardarelli, R., & Montigny, M. (2007). Quantifying the isolated and synergistic effects of exposure frequency for TV, print and Internet advertising. Journal of Advertising Research, 47(3), 215–221. doi:10.2501/S0021849907070262

Using a case study approach, the authors seek to determine which medium (TV, print or Internet) or combination of mediums has the greatest effect on consumers and their decision to purchase a product.
• Keller, E. (2007). Unleashing the power of word of mouth: Creating brand advocacy to drive growth. Journal of Advertising Research, 47(4), 448–452. doi:10.2501/S0021849907070468

In this article, the author identifies the need for quantifiable data to help marketers understand how to best use the power of word of mouth to help establish brands.

Usunier, J., & Cestre, G. (2007). Product ethnicity: Revisiting the match between products and countries. Journal of International Marketing, 15(3), 32–72. doi:10.1509/jimk.15.3.32

In this study, the authors explore the concept of product ethnicity, or stereotypes that consumers hold about the innovative ability and reputation of different countries in manufacturing products. They next discuss a model to measure the effects of product ethnicity.

SAMPLE ANSWER

Mass Marketing Versus Personalized Marketing

The articles “The Continuing Power Of Mass Advertising” by Paul Nunes and Jeffrey Merrihue (2007) and “Word Of Mouth” by Cater Reigner (2007) provide a comparative analysis of personal and mass marketing through online and traditional channels. Although the researches of the authors were independent, their focus gives a sufficient outlook of the current literature, which evaluates the effectiveness of traditional and new marketing strategies that currently dominate the markets.

One of the common questions asked in the consumer environment is the trend of mass advertising. Is mass advertising dead in the era of personalized marketing? The reports of both authors tend to move to one line of thought when assessing the prevalence of mass marketing and the personalized one. Both authors acknowledge the movement and the prevalence of personalized marketing. The use of technology has facilitated the use of personalized market to a high degree in a very short period. Havlena, Cardarelli and Montigny (2007) note that the use of social media, emails, and phone have allowed individuals to interact with consumers one-on-one. A study carried by Nunes and Merrihue (2007) reveals that the Y generations are the most buyers in the market and are the ones that are “digital” minded. It means that the focus of marketing shifts to them. Keller (2007) posits that the Y generation argues that use of web-based marketing is easy and fast as you can talk to the sellers unlike mass advertisement on TVs and newspapers.

On the other hand, Nunes and Merrihuel argue that it is still early for mass marketing to die. The authors say that it will take considerable number of years for mass marketing to disappear. In their research, they revealed that the new avenues have not interrupted the traditional methods for getting the advertisements. The study revealed that common avenues of advertisement are still 97%; this includes television, radio, print, and billboards. Hence, the fact that those traditional venues still dominate the market assures the continuity of mass marketing. Additionally, Nunes and Merrihuel argue that a small percentage of markers are ready to purchase tools for web-based marketing, which seems to be expensive and is among the strategies that companies can use to shift from traditional to personalized marketing. They have to create webpage for the products, programmed machines that responds to individual requirements, and addition of staff to respond to each individual. Moore and Pareek (2009) add that most of the consumers are not acquainted with some of the technologies, hence, they have to be taught through campaigns.

Both authors agreed that web-based marketing has got high prevalence as a marketing strategy. The major reason for the high prevalence is the interpersonal communication between the consumers and the marketers. One-on-one communication assures customers on the need and benefit of the products (Keller, 2007). It gives the marketer an opportunity to use his/ her skills to convince the buyers on the importance and the advantages of the products. Ryan and Jones (2009) describe interpersonal communication as a tool that assures customers of the products. According to Keller (2007), products will not sell unless the customers have the information about them. Therefore, customers only decide after getting the information through promotion that intensifies when there is interpersonal communication. As such, it is the customers that have the powers to lift a company after getting the knowledge about its products.

References

Keller, E. (2007). Unleashing the power of word of mouth: Creating brand advocacy to drive growth. Journal of Advertising Research, 47(4), 448–452.

Moore, K., & Pareek, N. (2009). Marketing : The Basics. London: Routledge

Nunes, P., & Merrihue, J. (2007). The continuing power of mass advertising. MIT Sloan Management Review, 48(2), 63–71

Riegner, C. (2007). Word of mouth on the Web: The impact of Web 2.0 on consumer purchase decisions. Journal of Advertising Research, 47(4), 436–447.

Ryan, D., & Jones, C. (2009). Understanding Digital Marketing : Marketing Strategies for Engaging the Digital Generation. London: Kogan Page

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Marketing in the 21st Century Essay

Marketing in the 21st Century

Order Instructions:

Please pay attention to details hear and respond to all the question in details. and most important it is critical that the writer focus on the points mentioned at the end of the questions . all aspect must be thoroughly address in the paper.

Marketing in the 21st Century

After reading “Retail Marketing Trends in USA and Their Effects on Consumers and the Global Workforce,” and “Internet Retailing Quality: One Size Does Not Fit All,” consider the following questions:

• What should online retailers do to establish a clear difference from retailers that have off-line stores?

• What should be the strategies for retailers with physical locations that intend to also establish themselves online and how should these retailers seamlessly integrate their channel offerings?

• How has globalization influenced marketing trends?
Using the information you have read and any other outside resources that you have found, prepare a summary (2 pages minimum) of how these topics relate to the overall subject you are addressing in your paper. Remember to refer back to the main task of this paper, which is to describe how you believe the usage of the individual marketing mix variables is likely to change in the future and what companies must do to adapt their marketing approaches in order to achieve competitive advantage.

In particular, focus on the following aspects:

• The changing landscape of traditional advertising methods that have become less effective as consumers turn to the Internet from mass media and the evolution of newer pricing models for the Internet, including the use of channel intermediaries as retailers seek to compete with pure-play Internet retailers.
Marketing changes and adaptations that have become necessary due to the globalization of the marketplace.

Resources

Articles

• Chinta, R. (2006). Retail marketing trends in USA and their effects on consumers and the global workforce. Business Renaissance Quarterly, 1(2), 65–80. Retrieved from ProQuest Central database.

This article identifies and describes current trends in the field of retail marketing,

• and sets them in the context of significant changes in the field in recent years.

Griffiths, G., & Howard, A. (2008). Balancing clicks and bricks – strategies for multichannel retailers. Journal of Global Business Issues, 2(1), 69–76. Retrieved from ProQuest Central database.

This article explores the difficulties of doing business both in stores and online and describes a model for establishing the correct balance between the two approaches. The authors also identify five themes that need to be considered by multichannel retailers.

•Chinta, R. (2006). Retail marketing trends in USA and their effects on consumers and the global workforce. Business Renaissance Quarterly, 1(2), 65–80. Retrieved from ProQuest Central database.
This article identifies and describes current trends in the field of retail marketing, and sets them in the context of significant changes in the field in recent years.

•Griffiths, G., & Howard, A. (2008). Balancing clicks and bricks – strategies for multichannel retailers. Journal of Global Business Issues, 2(1), 69–76. Retrieved from ProQuest Central database.
This article explores the difficulties of doing business both in stores and online and describes a model for establishing the correct balance between the two approaches. The authors also identify five themes that need to be considered by multichannel retailers.

•Francis, J. (2007). Internet retailing quality: One size does not fit all. Managing Service Quality, 17(3), 341–355. doi:10.1108/0960452071074433
In this article, the author studies four dimensions of quality that should be considered in Internet marketing: the transaction, the delivery, customer service, and security.

•Gregory, G., Karävdic, M., & Zou, S. (2007). The effects of e-commerce drivers on export marketing strategy. Journal of International Marketing, 15(2), 30–57. doi:10.1509/jimk.15.2.30
This study describes a theoretical model developed by the authors to determine the effect of e-commerce drivers on the development of export marketing strategy and the results of testing this model.

•Nelson, R., Cohen, R., & Rasmussen, F. (2007). An analysis of pricing strategy and price dispersion on the Internet. Eastern Economic Journal, 33(1), 95–110. doi:10.1057/eej.2007.6
Due to the accessability of information on the Internet, consumers can now research both the price and quality of products. In this article, the authors present the benefits of keeping pricing consistent across products and over time.

•Wong, E. (2008). Nielsen: Private label deemed equal to name brands. [Electronic version]. Brandweek, November 17. Retrieved from
http://www.adweek.com/news/advertising-branding/nielsen-private-label-deemed-equal-name-brands-104824
This article discusses the findings of a Neilsen study dealing with the desirability of name brands compared to private labels.

SAMPLE ANSWER

Marketing in the 21^st Century

References

Chinta, R. (2006). Retail marketing trends in USA and their effects on consumers and the global workforce. Business Renaissance Quarterly, 1(2), 65–80. Retrieved from ProQuest Central database

Francis, J. (2007). Internet retailing quality: One size does not fit all. Managing Service Quality, 17(3), 341–355. doi:10.1108/0960452071074433

Gregory, G., Karävdic, M., & Zou, S. (2007). The effects of e-commerce drivers on export marketing strategy. Journal of International Marketing, 15(2), 30–57. doi:10.1509/jimk.15.2.30

Griffiths, G., & Howard, A. (2008). Balancing clicks and bricks – strategies for multichannel retailers. Journal of Global Business Issues, 2(1), 69–76. Retrieved from ProQuest Central database

Nelson, R., Cohen, R., & Rasmussen, F. (2007). An analysis of pricing strategy and price dispersion on the Internet. Eastern Economic Journal, 33(1), 95–110. doi:10.1057/eej.2007.6

Strzelec, P. C. (2011). Online vs. Offline Shopping: Retailers Must Respond. Dallas, TX: CRC Press.

Wong, E. (2008). Nielsen: Private label deemed equal to name brands. [Electronic version]. Brandweek,November 17. Retrieved from
http://www.adweek.com/news/advertising-branding/nielsen-private-label-deemed-equal-name-brands-104824

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The Role of Personal Marketing for Unique Products

The Role of Personal Marketing for Unique Products Order Instructions: the writer has to read the instructions very well and most importantly, he has to focus on the following aspect:

• The role of personalized marketing (sometimes called one-to-one marketing), where companies strive to create a unique product offering for each consumer. But must also pay attention to the entire details of the paper read carefully the instructions.

Over the next four weeks, you will utilize assigned articles listed on each week’s Resources page to explore the different topics for your Research Paper. Each week’s Application page will present a series of questions pertaining to a specific article. You do not have to answer the questions directly, but they are included to guide your reading and to assist you in discovering the necessary information for completing the research paper.

After reading “What is Personalization? A Conceptual Framework,” by Vesanen, consider the following questions:
• Based on your reading, what is your view of personalization?
• Would personalized marketing benefit companies?
• How should firms go about developing personalized marketing?
After reading “Dynamic Pricing in Internet Retail: Effects on Consumer Trust,” by Garbarino and Lee, consider the following questions:
• Is dynamic pricing (i.e., individual-level price discrimination) a good idea in personalized marketing?
• If so, what kind of price discrimination (first, second, or third degree) is most appropriate?
• If not, should marketers follow a consistent pricing policy for all consumers?
Using the information you have read and any other outside resources that you have found, prepare a summary (3 pages minimum) of how these topics relate to the overall subject you are addressing in your paper. Remember to refer back to the main task of this paper, which is to describe how you believe the usage of the individual marketing mix variables is likely to change in the future and what companies must do to adapt their marketing approaches in order to achieve competitive advantage.

In particular, focus on the following aspect:
• The role of personalized marketing (sometimes called one-to-one marketing), where companies strive to create a unique product offering for each consumer.
Remember to include any references (incorrect APA format) you might have used in your research.

The Role of Personal Marketing for Unique Products Resources

• Articles
• Garbarino, E., & Lee, O. (2003). Dynamic pricing in Internet retail: Effects on consumer trust. Psychology & Marketing, 20(6), 495–513. Retrieved from Business Source Premier database.

This article discusses individual price discrimination, particularly on the Internet, as well the effect this type of pricing has on the trust level of the consumer.
Vesanen, J. (2007). What is personalization? A conceptual framework. European Journal of Marketing, 41(5/6), 409–418. Retrieved from Business Source Premier database.

The new buzzword in marketing is personalization. This article presents a framework for the concept of personalization as this term tends to be defined differently by different marketers, causing confusion.
• Avlonitis, G., & Indounas, K. (2007). An empirical examination of the pricing policies and their antecedents in the services sector. European Journal of Marketing, 41(7/8), 740–764. doi:10.1108/03090560710752384

After surveying 170 service companies regarding factors that influence and determine to price, the authors conclude that a unique combination of environmental and organizational characteristics affects each individual pricing decision.

• Balabanis, G., & Diamantopoulos, A. (2008). Brand origin identification by consumers: A classification perspective. Journal of International Marketing, 16(1), 39–71. doi:10.1509/jimk.16.1.39

This paper focuses on the ability of consumers to identify the country where an item is produced, the factors that help or hinder the identification, and the consequences of the brand origin on consumer behavior.

Calantone, R., & Di Benedetto, C. (2007). Clustering product launches by price and launch strategy. Journal of Business & Industrial Marketing, 22(1), 4–19. doi:10.1108/08858620710722789

In this research, the author’s study over 200 new product launches to look for similarities in launch strategies and methods of pricing.

The Role of Personal Marketing for Unique Products Sample Answer

Personal Marketing

Introduction

When the term marketing is used the first thing that comes to the minds of many is advertisements or other related promotional activities conducted by the manufacturer and distributors of a product with the aim of reaching as wide an audience as possible. In light of this widely accepted view of marketing, the concept of personalizing the process seems at best alien and completely out of place. Personal Marketing however does just that. Marketing has gradually been moving from a product or price orientation to a more customer-centered process. Personal Marketing is the preparation of a product’s design, packaging, and promotional activities in a manner that is targeted at an individual consumer rather than the masses. This can, therefore, be said to be the highest form of customer-centric marketing. This is because the marketing efforts are geared towards enticing a specific prospective or current consumer to purchase a specific process. This is different from market segmentation or the creation of a niche market. With personal marketing, the target is the individual and not a group of individuals with similar characteristics of importance to the marketer (Vesanen, 2007).

The Role of Personal Marketing for Unique Products and A personal view of Personalization

According to me, personal marketing is a company’s way of reaching out to an individual client whose purchase or purchases will bring about considerable benefits to the organization. For such companies, the power of customers is very high in Porter’s Five Forces analysis. The transactional behavior of individual customers has a direct impact on the turnover of the business entity. It is a marketing strategy that needs to be prudently carried out by individuals who have the perfect mix of product knowledge, creativity and persuasiveness so as to ensure the objective of this promotional activity is realized. If this mix is achieved proactively, personal marketing is sure to succeed where conventional marketing has failed to yield fruit. It is important to note that the individual in this context is not necessarily an individual. It may also be a corporate client whose purchases are carried out between the entity of the company and the customer as two parties.

The Role of Personal Marketing for Unique Products and the Impact of Personal Marketing to Companies

Personal Marketing is bound to benefit companies since it helps to bolster the relationship that they have with their customers. On the part of the customers, satisfaction will increase and this improves their perceived value of the product thus leading to more purchases. This then translates to higher turnovers and increased profits for the companies engaging in personal selling. The fact that communication between salespersons and the customers is two-sided means that there is a provision for immediate feedback which is quite important to the product developers and sales department.

The Role of Personal Marketing for Unique Products and The development of personal marketing

The first step that firms need to do in developing personal marketing strategies is to understand the needs and value systems exhibited by specific customers. Since marketing is being formulated to suit a specific customer, it is important to ensure that the product in question meets all of these needs. These include issues like the quantity, quality standard, timing, pricing, payment schedule, the usability of the product, the frequency of deliveries and any other special aspects of the products that will be relevant to the customer being targeted (Balabanis and Diamantopoulos, 2008).

The Role of Personal Marketing for Unique Products and Pricing in Personal Marketing

The Role of Personal Marketing for Unique Products and The degree of price discrimination applicable

The most appropriate approach to price discrimination is the third degree of price discrimination (Avlonitis and Indounas, 2007). This price discrimination method is favorable for personal marketing since the basis for the setting of the price is based on the customer’s preferences, geographical location and other subjective factors that can only chance from entity to entity. As stated above, personal marketing is meant to tailor the promotional effort in such a manner that elicits a positive reaction on the part of an individual customer rather than an entire group of potential customers. Third-degree price discrimination will be the result of the back and forth communication between the sales department and the specific customer. The price will be set in such a manner that it strikes a compromise between the profitability goals of the business and the ability and capacity of the customer in question.

The Role of Personal Marketing for Unique Products References

Avlonitis, G., & Indounas, K. (2007). An empirical examination of the pricing policies and their antecedents in the services sector. European Journal of Marketing, 41(7/8), 740–764

Balabanis, G., & Diamantopoulos, A. (2008). Brand origin identification by consumers: A classification perspective. Journal of International Marketing, 16(1), 39–71.

Vesanen, J. (2007). What is personalization? A conceptual framework. European Journal of Marketing, 41(5/6), 409–418.

Issues associated with Push up the Supply Chain

Issues associated with Push up the Supply Chain when Implementing JIT

Order Instructions:

I want a custom essay 1000 to 1500 words with 7 different referencing Harvard system in the following subjects:

What are the issues associated with pushing risks up the supply chain when implementing JIT?

Provided with examples from real companies.

Thank you for your help.

SAMPLE ANSWER

Issues associated with Pushup the Supply Chain when Implementing JIT

There are varied issues that can emanate from pushing risks up the supply chain when implementing JIT. One of the issues is that the illusion that organizations have managed the risks has often been overlooked, as well as the critical exposure along the supply chain. Therefore, supply chains that control hundreds or thousands of companies over several tiers present significant risks (Smith & Zsidisin 2002). Another issue that may arise is that pushing up risks the supply chain when implementing JIT limits ownership and increases the risks of obsolescence, inventories, and lack of responsiveness to peak and troughs in customer demands, thus, becoming even more complicated (Smith & Zsidisin 2002, p.119). Ownership problem can also be brought in by the process, which is triggered by outsourcing and concentration on core competencies, the accelerated use of manufacturing and distribution, and logistics partners leading to a complex network of business correlations with confused dimensions of responsibilities (Smith & Zsidisin 2002, p.119). These risks will emerge into inventory costs due to product obsolescence and markdowns or stock-outs, which are pushed up the supply chain.

When implementing JIT, getting the source of risks for the supply chains becomes hard. This is because the risks have been pushed up the supply chain in disorderly and concealing manner. Chaos effects can arise in supply chains (Smith & Zsidisin 2002). This is as result of second-guessing, unnecessary intervention, overreactions, and distorted information throughout a supply chain. Another issue that emerges is inertia. There will be general lack of responsiveness to dynamic and market signals of environment conditions. Inertia will also be brought by inflexibility of cost production. The practice of pushing risks up the supply chain also brings problems with cost containment, whereby, ability to adapt to changing costs becomes difficult. In addition, visibility is limited by the pushing-up of the risks as supply chain executives still struggles to analyze and act on the right information

Reference list

Smith, M. & Zsidisin, G. (2002). Early Supplier Involvement at MRD, Practix, Best Practices in Purchasing & Supply Chain Management journal. pp. 119-122.

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Marketing effectiveness; Nike inc. Research Paper

Marketing effectiveness; Nike inc.

Order Instructions:

For this paper, the writer will be combining 111486,111516 and 111587 , plus the writer will include an executive summary. The writer will end the paper by responding to the points listed below. It is important that the writer take proper care and combing the paper following the instructions below as it will not come out right if proper instructions are not followed.The executive summary must be base on the entire paper.

In combining the paper , we have to start from the first week which is 111486 and then follow by 111516 and then 111587 and finally he will include the respond to the section below following the instructions giving below for the summary, making one complete paper.

Your entire Paper is due this week. You should combine all information gathered over the past 3 weeks into one organized, cohesive report. You should also include a brief executive summary and set each week’s content in the context of the relevant literature. End the paper by responding to the following:
• Identify at least three short-term steps that the company can take to improve its overall marketing effectiveness. Provide details of specific activities in which the company should engage.
• Identify at least three long-term steps that the company can take to improve its overall marketing effectiveness. Provide details of specific activities in which the company should engage.
• In addition, include a discussion of the importance of the marketing audit that references scholarly literature and explain how the audit can help a company identify key issues.
Remember to include all references (in correct APA format), both scholarly and first-person interview, that you have used in your research.

SAMPLE ANSWER

Abstract

This paper provides a macro-environment audit of a selected company, which is Nike, Inc. The external influences that affect Nike including the demographic, economic, environmental, political, as well as cultural factors are described in an in-depth and comprehensive manner in this paper. These factors cannot be controlled by firm and at times they present threats. Nonetheless, changes within the external environment of a firm also create new opportunities (Kotler & Keller, 2012). The person whom I intend to interview is Davide Grasso, the Vice President, and Global Marketing manager at Nike.

Executive Summary

Nike, Inc is one of the multinational enterprises in the United States of America that designs and also manufactures sports apparels, foot wares, equipments among other accessories. Its major production subsidiary is Converse Inc, a company that specializes in designing and distribution of casual apparels, foot ware, and other personal sports outfits. Hurley International Company, specialiases in designing, marketing and distribution of sports ware and equipment for the youth.

Nike has adopted a wide range of marketing and communication strategies that have enabled it to achieve a lot of success in its marketing activities and revenue volumes. Despite its successes, Nike has also suffered setbacks in its journey to success. Nike had to contend with several accusations of child labour abuse and wage exploitation in parts of Asia. Several strikes have also hit some licensed contractors working for Nike in China.

These activities have affected the marketing effectiveness of Nike’s products in several countries especially those countries that uphold fair treatment of employees and respect for the rights of employees to a safe working environment.

Demographic Factors

Nike makes its products not only for women and men, but also for children of all ages. The target market for Nike’s products comprises females and males who are between the age of 18 years and 35. This age-group continues to increase every year, which presents a major opportunity for Nike’s products. People of all ages today are more health conscious than they used to be in previous years. As such, increasingly more people are actually choosing to join fitness clubs. Consequently, there is an accompanying growth for demands of fitness products particularly exercise equipment, shoes and apparel (Nike, 2014). Nike can position itself to exploit the opportunity brought about by this increase in demand as younger and older people are looking for sports equipment, apparels and shoes. Moreover, the female’s athletic market is also on the increase as the number of collegiate athletes have risen considerably from just a few thousands 5 decades ago to nearly 1 million at present (Nike, 2014).

Economic Factors

In response to the recent economic developments and trends characterized by a slowing economy which has caused consumer purchases to reduce, Nike has been greatly affected. Material prices and labor costs increased. The economic recession, which was the company’s biggest threat, resulted in weak sales for Nike (Nike, 2014). The actions that Nike is taking in response to the recent economic recession include increasing sales in China which experiences robust economic growth. In essence, sales in the Chinese market and in other parts of the globe were used by Nike to make up for weak sales in Europe, Australia, Japan and North America. Not only did Nike use the Chinese market to fight recession, but it also cut a total of 1,750 jobs. Nike also cut its marketing during the recession (Rogoway, 2009).

Environmental Factors

To make its products, Nike is presently reliant on the availability of natural resources including energy, water and raw materials. The cost of competition for these resources would rise as these resources become more and more scarce (Nike, 2014). Greenpeace reported that Nike had relationships with 2 Chinese textile processing factories that were producing dangerous chemicals and polluting 2 of China’s major rivers with chemicals that were hazardous (Hunt, 2011). With regard to the steps taken by Nike on the subject of pollution and conservation, Nike is committed to delivering innovative new products in ways that are more sustainable. To properly manage scarce resources, Nike develops and uses more sustainable and more recycled materials, as well as leaner manufacturing processes (Nike, 2014).

Technological Factors

Product innovation is essentially a continuing process and is of major importance to staying ahead of the competition (Oliva, 2006). In this industry, corporations invest considerably in Research and Development so as to sustain the new demands of today’s contemporary athlete. Nike has employed a lot of specialists who include athletes, industrial designers, engineers, as well as biomechanics to collaborate in the design process (Nike, 2014). Product technology generally has to evolve as fitness also evolves so as to gain an advantage. It is of note that Nike introduced into the market Nike Shox, a product that greatly revolutionized the cushioning foam utilized in shoes. In addition, Nike also worked together with Apple in launching new footwear and apparel that would easily carry the iPod of the consumer (Nike, 2014).

Political Factors

There are several changes in regulations and laws that may affect marketing strategy and tactics used by Nike. Several states such as Ohio have established Environmental Pollution Agencies (EPA) pollution control laws that are designed to prevent environmental pollution and generally to protect the environment (Esworthy, 2013). Such federal and state laws on pollution greatly affect Nike’s marketing tactics and strategy. The United States Government has also put in place price controls on prices which could be charged for services and good within the marketplace. Such price controls are mainly aimed at maintaining the affordability of products, and to slow inflation. Moreover, the Consumer Product Safety Act gives the Consumer Product Safety Commission the mandate to formulate safety standards and pursue recalls for goods which present significant or unreasonable risks of death or injury to consumers (Esworthy, 2013). The laws on Equal Employment Opportunity (EEO) forbid specific kinds of work discrimination in some workplaces. In the United States, the Federal Trade Commission regulates and oversees marketing and advertising law. These laws could possibly impact many of Nike’s areas of business, for instance how the company labels its products, how it carries out telemarketing and email campaigns, and how Nike advertises to children (The U.S. Small Business Administration, 2014). Laws on advertising protect consumers by demanding that advertisers should be truthful regarding their products and be able to validate their claims.

Cultural Factors

Nike’s brand is one of the most recognizable worldwide. The public’ attitude towards Nike’s products is that they are expensive, particularly the sneakers, and are of high quality. They are also durable products. However, a new reasonably priced series of Nike products for consumers in Asia made Asian consumers to think of Nike’s products as affordable. Changes in customer lifestyles such as doing more exercise to keep fit might affect Nike since there might be an increase in demand for the company’s sports shoes, apparel and equipment.

Markets

The major market segments of Nike Inc are mostly located in North America, Western Europe, Japan, China and other emerging markets. The markets have been expanding globally as well as the volume of sales. In 2013, the operations grew by 11% as a result of the popularity of the Nike brand and all the segments except China registered improved sales in the year 2013. In the same year the total sales turnover were $20.117 billion while the assets and liabilities for the same period were $17.584 and 6.428 billion respectively. The total market capitalization for Nike Inc. amounted to $64.75 billion in 2013. The inventory turnover for the same period was 4.3 compared to the previous year which was 4.3. The total revenue for Nike Inc for the year ended 2013 amounted to $27.8 billion

Customers

North American is the leading market segment in terms of sales volume which is followed by the emerging markets and China. The other markets are Western Europe, Japan and Central and Eastern Europe. Most of the segments make majority of their sales through wholesale outlets. Nike Inc products are highly rated both by its direct competitors like puma, Reebok or Adiddas and its customers. The Nike’s + sports band is a type of shoe that is universally rated as one of the best basketball shoes globally. It records or provides the distance covered when running and also the time taken. Nike brand is also common with the youth culture especially the urban fashions.

Competitors

Nike Inc is the leading company in footwear industry and it controls about 47% of the entire footwear industry while Reebok and Adidas control 16% and 6% respectively. Reebok is the second largest manufacturer of footwear in the US after Nike Inc. Adidas market capitalization for the year 2013 was 15.55 billion while its quarterly growth rate is 2% compared to Nike’s 11% for the same period. The total revenue for Adidas for the year ended 2013 amounted to 18.59 billion as compared to Nike’s $27.8 billion for the same period. Nike’s operating margin was 0.13 compared to 0.07 for Adidas for the same period while the earnings per share were 2.93 and 2.2 for Nike and Adidas respectively. The gross operating margin was 0.45 for Nike compared to 0.49 for Adidas. (Nike, 2014)

Adidas is enjoying one of the fastest growths in brand expansion. Their positive attributes have been shielded from any form of bad publicity by the two largest brands that are Nike and Reebok. (Van de Ven, 2008) They adjusted and expanded their manufacturing operation strategies to specialized outsourced services in the early 60’s from Germany to cheaper economies in Asia. But their greatest weakness is that they still do not have an operation code of conduct for outsourced agencies like Nike and Reebok. (Nike Annual Report, 2013) Adidas is currently considered to the worst employer in footwear industry and it’s largely due to its subcontracted or outsourced work in outsourced factories in Asia. (Van Dusen, 1992)

Distribution and Dealers

The largest earners for Nike Inc are the wholesale distributors which control majority of its sales volume. The inventory turnover or efficiency ratios for the year 2013 was 4.3 compared to the previous year which was 4.3 while the total revenue for the year ended 2013 amounted to $27.8 billion. Nike has outsourced most of its manufacturing business to China and other parts of Asia. Nike Inc also operates thousands of retail outlets in North America and also in other selected countries globally. The future ordering service or program facilitates the retailers to receive advance orders from customers and deliver them when they are due. In 2013, 87% of all the US sales were made under this program. (Kotler & Keller, 2012)

Nike also sells its products through their own Direct to Customer sales operations by utilizing the services of mix independent distributors, sales representatives globally and other licensees. Nike also operates the NIKETOWNS and other outlets for their employee-only stores. (O D’Esopo, & Almquist, 2007)

Suppliers

The suppliers of Nike are mostly located in Asia and other parts of the world. All the footwear for Nike is manufactured outside the US. China and Vietnam manufacture 36% each of Nike’s footwear production while Indonesia and Thailand manufacture 22% and 6% respectively of the total production. (Nike Annual Report, 2013) Other factories that manufacture for their primary markets are located in Argentina, Brazil, Mexico and India. The major suppliers of Nike’s raw materials which are generally canvas, leather, nylon and polyurethane that is used to manufacture the Air-sole components are from China and Thailand. Since the year 1972, Sojitz International Corporation of America and Nissho Iwai Corporation from Japan has handled the bulk of Nike’s raw materials in the form of importing and exporting the requirements of the major production facilities across the world. They also finance the some of the operations and also handle the transporting logistics for the subcontractors.

Facilitators and Marketing Firms

Nike operates its marketing strategy by sponsoring celebrity athletes, college teams and other international professional teams to market its branded apparels and footwear. Nike has an agency known as the Wieden + Kennedy popularly known as the W+K and its responsible for creating its advertisements on most broadcasting stations and features mostly on the New York marathon and other international events. (Lee & Broderick, 2007) Nike has won several accolades in the international scenes due to its effective advertisement including the Emmy advertisement awards and also in the Cannes awards events. Nike pursues an aggressive marketing policy that favors its quality products. (Hauser, 2007) The core competencies of most footwear industries is to provide quality footwear and they concentrate largely on the research and development of their products while they leave the production and manufacturing operations to outsourced contractors. The main companies form the policies that guide the technological expertise, marketing and distribution networks. These companies gain in the form of reduced capital needs and risks, lower wages and management requirements when they outsource their manufacturing operations.

In conclusion, Nike has adopted several communication strategies to market its products and also to track vital information from the internet and also from other broadcasting stations. (Schibrowsky, Peltier & Nill, 2007) Internet marketing and other email technologies are utilized by Nike to reach potential clients throughout the world. The revenues for Nike Inc have continued to rise despite economic challenges that exist globally.

Marketing Function Audit

13.1. Products

Nike’s product line objective is based on performance oriented strategy that seeks to manufacture foot ware’s and sports apparels that can endure the rigorous training and competition pressures to achieve top most performance for their clients. For clients who purchase the products for casual use, Nike Inc aims at providing the best apparels and foot wares that is based on extensive research on personal performance and comfort.

Nike Inc product and brand overall strategy is mostly based on sports performance where a major of its revenues are derived from. But the overall casual market for its products is far larger than the sports market. More product branding and strategy should be focused on the casual market to achieve higher sales on the emerging market.

13.2. Price

Nike’s pricing objective are based on the competitive market that also aims at providing the best sporting and casual foot ware and apparel in the market. Nike products are priced slightly higher above its competitors due to its products higher quality and endurance aspects of its products. Its pricing policy is based on value for the price offered but occasional its marketing strategists conducts assessments on the overall market reaction to its prices in various parts of the world using different sampling procedures especially in the US which provides almost 45% of its total revenues.

13.3. Distribution

Nike’s Converse Inc specializes in designing and distribution of casual apparels, foot ware, and other personal sports outfits for the general public and sportsmen while Hurley International Company, specialiases in designing, marketing and distribution of sports ware and equipment for the youth, colleges and other sports events for teenagers. Besides the wholesale customers, Nike also sells directly to customers through the Direct Consumer Operations. Nike has a global presence in most of the countries worldwide and its marketing strategy is very effective and adequate. (Beverland, Napoli & Yakimova, 2007) Its product is available to most of its consumers globally besides the normal orders that can be placed under the Direct Consumer operations. (Hauser, 2007)

Integrated Marketing

Nike has won the Emmy Award for best commercial on two occasions in the years 2000 and 2002. (Nike Annual Report, 2003) Its advertising objective is to create a trademark that is associated with excellence performance in the track and field for athletes and other sportsmen and women and also for casual use.

The advertising media for Nike is well chosen and effective. The decision to use sports celebrities to market and promote its products and also to demonstrate the performance of their technology and design is proving to be the best decision. Nike Inc signed in the NBA player Mike Jordan, in the year 1984, and its revenues increased dramatically hence the introduction of the Jordan brand name in one of its foot ware products. (Beverland, Napoli & Yakimova, 2007) Nike adopted the internet and email marketing management technologies since its inception in the early 2000 and it’s currently using the broadcast and narrowcast satellite communication technologies to drive its multimedia marketing campaigns. (Schibrowsky, Peltier & Nill, 2007; Szmigin, Canning & Reppel, 2005)

Strategy Audit

15.1. Business mission

Nike business mission is clearly stated in market oriented terms and represented wholly by its trademark in all its designs. (Nike Annual Report, 2013) In the year 2010, the value of its brand alone was estimated to be worth more than $10.7 billion. Nike’s brand name is very feasible and it actually leads its sales. Its trademark represents all its mission strategies and accomplishments.

15.2. Marketing Objectives and Goals

Nike’s marketing objectives and its goals are well stated, adequately enough to plan its marketing and performance operations to facilitate global expansion and achieve highest returns. Nike’s athletic foot wares for example, are aimed at providing specific athletic use and they have been designed with the same purpose in mind. (Prahalad & Ramaswamy, 2004)

The company’s objective is appropriate given its competitive nature and huge resources and opportunities available. These can be confirmed from its huge revenues that are derived from its sales revenues and the popularity of its products. In the year 2012, Nike posted more than $24.1 billion dollars in its total revenues.

Strategy

The management of Nike Inc has a clear strategy of achieving its marketing objectives. The US forms its target segment with an estimated 45% of its entire revenues coming from the US alone; its major strategies are tailored for the American market. Product positioning refers to the development and marketing of the company’s products brand as the true and real images of the company’s major product. (Kotler & Keller, 2012) To form an impressive strategy, Nike has chosen a communication strategy that is unique and competitive to the nature of its products. The use of sports celebrities as its promotion strategy has created an effective marketing strategy. (Nike, 2014) Most of its customers view the Nike brand as an epitome of success something which influences its pricing policy. (O D’Esopo & Almquist, 2007). It’s a process known as brand equity and it occurs where the company’s loyal customers are even more willing to pay much more to obtain their choice of product mostly because of its positioning in the market.

Short-term Marketing effective Improvement Strategies

To perfect the effectiveness of Nike’s marketing strategy, the short term measures that the company can take is to polish its tainted image on allegations of child labor in Cambodia and Pakistan and which were first registered in the 1990’s. The allegations were once again confirmed by the BBC in the year 2001 who gave an account of six girls who worked more than sixteen hours a week continuous for weeks on end and without adequate compensation. Also in April 2014, a strike in China almost grounded the operations of Yue Yuen Industrial Holdings in Dongguan that was occasioned by poor pay and inhospitable working conditions. The company is a Subcontractor of Nike Inc. Nike has to prove to the world that it’s an equal opportunity employer and its policies are not discriminatory on the basis of race, gender or nationality. Issues of exploitation can gravely taint its image and can have very negative repercussions on its brand image globally. The company must have a way of reigning in its errant Subcontractors who exploit the workers notwithstanding the political factors that may be at play in such countries.

One of the marketing strategies that Nike has adopted is the promotion of its product by using successful sportsmen as way of promoting its products worldwide. Most of these sports celebrities don various apparels that are branded with Nike’s trademarks and which associate success to with Nike’s products. However, there are instances where the motive of Nike’s major objective of portraying success has been marred by the celebrities negative immoral and unethical behaviors’ like in the case of Tiger woods’ unbecoming conducts outside the field. Nike Inc needs to do more on researching their sports celebrities before contracting them so as to improve the effectiveness of its marketing policies and communication strategies.

Nike also needs to improve on its efficiencies in the production process and conduct more research on affordable raw materials that can be costed affordably. Its pricing policy is way above most of its potential customers. Nike’s products are more expensive than its rivals Adiddas and Reebok. For its marketing strategies to be more effective the prices of its products must also resonate well with its potential clients.

Long-term Marketing effective Improvement Strategies

The long term measures may include more research on improvement of the sportsmen needs and the latest demands on consumer tastes and preferences. For Nike to maintain a sustainable, competitive and effective marketing strategy efficient methods of evaluation and feedback analysis must be established and the objectives clearly defined.

The log-term measures should include an effective promotional strategy that will entail long-term research on all potential sports celebrities and those that aspire to promote the products of Nike Inc. These measures will ensure that the risk of recruiting incompetent, hot tempered or immoral promoters would be minimized. Cases like the suspension of Oscar Pictorius due to negative publicity would have been avoided much earlier before the revelation or publicity of Nike’s sponsorship details in February 2013.

Cases of inadequate and ineffective advertisement should also be addressed by adopting clear communication strategies. Competent and experienced promotional designers should be hired to design and develop effective marketing materials that are required for long-term marketing strategies. In some cases Nike had to withdraw some advertisement from the market after some of their marketing phrases were offensive to the public like the Nike 6.0 advertisement. (Brettman, 2011)

Discussion of the Importance of the Marketing Audit

The marketing audit has revealed the marketing activities of Nike Inc, its business environment and also assessed its present and past performance. It has also provided the basis for analyzing its marketing strategies. As the dynamic nature of the marketing and business environment is always changing, the marketing audit report can be used as a point of reference or as a tool of reflecting the constant changes in the business environment internally or externally. External environment reveal the changing patterns of the industry’s competitors compared to the company’s development and growth. The external environment audit also reveals the effects of government policies like taxation and trade policies on the company. The internal audit reveals the effectiveness of the company’s marketing strategies and also the marketing information research.

Conclusion

To conclude, the main aim of Nike’s marketing strategy should not only be business expansion only but also it should include corporate social responsibility both to its immediate environment and also for future generations. A short-term victory against its rivals or competitors would be great for the company and its management but the major aim of the company should be to maintain a sustainable and a competitive advantage over the rest of the firms in the industry

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Burberry Market Entry and International Expansion

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