MKT 421 Marketing Week 2 DQ 2 What is competitive intelligence? What is the importance of competitive intelligence and analysis in modern-day marketing? How can a company’s marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors? MKT 421 Marketing Week 2 DQ 3 What are the different types of buyers and consumers? How does the type of buyer or consumer affect marketing strategy?
This will include a SWOT analysis and a synopsis of the most competitive brands vying for market share with Fitbit Ultra. Analyzing the target markets and their potential for best customer impact is explored as well. The report will explore branding and services regarding the Fitbit Ultra and the website Fitbit.com. Pricing is a vital component of any market report, so details will be presented with promotional information followed by marketing potential. Concluding information and recommendations will summarize the outcome of this research project on the Fitbit Ultra.
What are the industries most suited to each of these strategies, and why? What are the industries least suited to each of these strategies, and why? There are three primary strategies for entering new industries. These include the Customer-focused growth strategy. The procedure of recognizing beneficial growth opportunities frequently starts with core business such as customers, the products, channels, geographic areas and services that produce the profits and greatest portion of revenue.
This particular ad the company is trying to help consumers recognize a problem as discussed in chapter 14. The marketers want the consumers to find a problem in having to pay separate bills for phone, internet, and TV services; this is considered the activity analysis of the problem recognition process. They want the consumers to see or acknowledge that in receiving all three services with AT&T they can actually save money and that this offer benefits them; which is the product analysis portion of problem recognition. It also states that they offer great features, savings and choice. This ad also addresses the human research factors of having to find the best phone, internet and TV service.
Donna is the first employee and her assessment stated that she values her job and she is very creative and that is a very good asset to the organization and it adds value. This is very useful in decision making. Donna’s characteristics will help the organization tremendously. She has a
Price for the product • The product is a marketing communication vehicle. It carries information and persuasion yes, and it delivers an audience (w/profile) to customers/advertisers First 3 bullets are not strategic dimensions, they are outcomes of strategic decisions What is the significance of the problem to the subject? • Click-through (CTR) business model is gaining popularity over MedNet’s impression model (CPM). • MedNet’s Ads - Clients are concerned about the value generated for the money spent. • Competitors like Marvel are wooing customers with low cost per click-through • Condition-specific websites like cholesterol.com has a better chance of converting a visitor to a customer.
Outline the Elaboration Likelihood model of persuasion. Explain how a mobile phone company might use knowledge of this model in a campaign to market a new phone. (4 marks + 6 marks) Petty and Cacioppo suggested that there are two different routes to effective persuasion. The more effective route depends on whether the audience focus’ on the message itself, or outside factors, such as the credibility of the source; otherwise known as the central route and the peripheral route. The central route to persuasion is taken when the audience is more likely to focus on the content of the message, i.e.
Running head: FINAL STRATEGIC PLAN Final Strategic Plan University of Phoenix Samantha Huggins Final Strategic Plan In the business environment, there are different ways to become successful. In order to be successful, a potential business owner must achieve the goals of having steady strategic planning and strategic management, to exist in its market to establish high profits. These goals are the foundation that makes up a good business in the business environment, and are known to be important. In addition, strategic planning is accommodating by implementing the company’s mission statements, visions statements, value statements, SWOTT analysis, balanced scorecard, and a communication plan, that are all beneficial to determine the future of the business about to prosper. As a result,
• A differentiator gains a competitive advantage because it has the ability to satisfy customers’ needs in a way that its competitors cannot, which allows it to charge a premium price for its product. • Premium prices → increased revenue → superior profitability • A differentiator invests its resources to gain a competitive advantage from superior innovation, excellent quality, and responsiveness to customer needs • A product’s appeal to customers’ psychological desires is a source of differentiation. ▫ Example? 13 Differentiation • Generally, a differentiator chooses to divide its market into many segments and offer different products in each segment • A differentiated company concentrates on developing distinctive competencies in the functions that provide competitive advantage ▫ These are still expensive! • A differentiator must control its cost structure to ensure the price of its products does not exceed the price customers are willing to pay for them • When differentiation stems from the design or physical features of the product, differentiators are at great risk of being imitated ▫ Example?
Defining Marketing Roger Burnham MKT 421 June 3, 2013 Robin Reis Defining Marketing Marketing’s role in business begins when an individual or company develops a product or service that satisfies the needs of others. One will discuss his or her definition of marketing, and the business definition of marketing. The success of marketing as determine by these definitions, and three companies that apply these methods successfully. Definition of Marketing One’s definition of marketing is promoting the products or services of the company that will enable the company to become profitable. William Perreault “defines marketing as the performance of activities that seek to accomplish and organization’s objectives by anticipating customer