Explain how promotion is integrated with the rest of the marketing mix in a selected organisation to achieve its marketing aims and objectives. My selected organisation is Toyota and I will explain how promotion is integrated with price, product and place (the other Ps of marketing) to achieve their marketing goals. Promotion is an important aspect of the marketing mix for Toyota and it has to work effectively with other aspects of the marketing mix in order for Toyota to have a coherent marketing mix. During the promotion process, Toyota will have to show the general public where they can actually find the cars to buy. They will not just advertise and display on TV, telling people that new Toyota brands are available.
AST1/Task 1 Tiare Rush Student ID#000305228 Strategies for Motivating Scooter Dealerships Company S is excited to be ready to enter the motor scooter market with our newly engineered scooter with much better fuel economy than all of our biggest rivals. Although our scooters cost a fraction more than the ones on the market today, we believe that the value added will make our company successful. I have identified here several strategies to help motivate the dealerships to help us to move our product. 1. Avoid Taking Business from your Dealerships Our partnerships with our dealerships are built out of trust.
Technology is a leading role in effective business practices. As technology changes so rapidly, managers must have the capability to adapt to the change and make the necessary decision to maintain success. My friends shop has to constantly keep up to date with the latest changes in the automotive industry. They must do this in order to stay ahead of their competitors and be able to effectively diagnose and repair vehicles in a timely fashion. Innovations in the automotive industry also drive customers to bring their vehicles in to be worked on by automotive shops rather than working on them themselves.
3. Sales Quotas A “tried and true” strategy for motivating dealerships to increase sales of a product is through sales quotas. By setting a sales quota for the dealers to meet each month, Company S will encourage the dealerships to increase sales. This method has the distinct advantage of not costing the Company and funds. However, the disadvantage of this strategy is through the
Similarly Porter’s five forces will help Intuit the position of the market and how much do they really stand a chance in this competitive industry, with Microsoft trying to buy them off. 1. Threat of new entrant: Intuit’s marketing strategies have helped the company evolve. Positive word of mouth an exceptional customer services is its most effective marketing tools. Roughly 8 out of 10 customers have bought Intuit’s product and hence engaging with customers directly and communicating with customers on a timely basis has helped distinguish its products.
Given this success, Target Corporation could rest on its laurels and pat itself on the back, however to continue to be effective, employee input and ongoing practice revisions by management are necessary. Target Corporation Outsourcing: Challenges and Opportunities Off-Shoring vs. Outsourcing In order to remain competitive in today’s volatile economic environment, many companies are looking for ways to cut costs. One major new step has been the growing industry trend of outsourcing work to countries where wages are less expensive and expected benefits are less financially based. There is a huge difference between outsourcing and off-shoring however, and this difference needs to be understood in order to effectively discuss the ramifications and benefits specific to outsourcing. Off-shoring refers to the expansion of a company into a foreign market, be it for goods or services.
The extended rivalry that results from all five forces defines an industry’s structure and shapes the nature of competitive interaction within an industry." Those forces are Buyers Power, Suppliers Power, Threat of substitution products or services, Threat of new entrants, and Rivalry among existing competitors. Buyers Power Customers are purchasers who expect to receive quality products as well as services. Thus this means that they are able to influence prices, which has the potential of negatively affecting a business that may not be willing or capable of providing discounts to their consumers (Porter, 2008). It is vital to always know what your competitors are offering consumers, this will assist in giving you
Buyer power tends to be higher if suppliers provide undifferentiated or standard products. 3. Porter's five forces model helps to determine both the nature of competition in an industry and the industry's profit potential. 4. If all of Porter's five competitive forces for an industry are weak (low), then established companies in the industry have the potential to raise prices and earn higher returns.
The reasoning behind this relies on two facts; costs are 5 to 7 times higher compared to inbound, inherently increasing customer aqcuisition costs. But most important, the company has built its brand image around “making fun” of the use of those old fashioned techniques. Hence this reccomendation shouldn’t consider any changes that might compromise the brand perception because the problem relies on how the product is delivered. What matters most, is to evaluate options on what to sell to whom, and who is that customer that will generate the highest LTV. We can assume that by targeting the right product to the best customer could reduce its average churn rate up to 20%, which is a moddest expectation.
5. Think about Toyota’s highly publicized safety problems. One observer said that a goal of efficiency had taken precedent over a goal of quality within Toyota. Do you think managers can improve both efficiency and effectiveness simultaneously? Discuss.