By fully managing the organization and their effectiveness and efficiency Kundlers can obtain the overall business intelligences goal of the mission. The marketing strategy should look at and use a competitive intelligence to accomplish these goals. The strategies of understating and knowing productive organization can give the upper hand with knowing the competitors market. Also by viewing the competitor’s sites, stores, and marketing strategies Kundlers can achieve the mission they set for their own business to excel past the competition. Analysis within a business should serve as a vital function.
Strategic Plan: Part II Anonymous BUS/475 February 23, 2000 n.a. Strategic Plan: Phase II Several trends and forces, both external and internal factors can lead businesses on different pathways. Trends and forces are necessities that must be analyzed by organization and fostered as a tool to increase revenue. Organizations that respond and react to changes and modify their strategic plan when necessary will remain superior in the industry and competition. In order for a business to thrive in today’s shifting business environment, the administration of that particular organization must have the capability to respond to changes in the trends and forces in the business setting.
These four areas help give the best outcome for the businesses sales success. The marketing process is a cycle that includes several different stages: research, strategic planning, branding, product development, sales training, bringing the product to market, public relations, and customer service. When one thinks of marketing one may only think of advertising and promotions but the marketing process is the business process. Some business scholars and professional have extended the marketing mix to include three other factors; people, processes, and physical
M1 - Explain how promotion is integrated with the rest of the marketing mix in a selected organisation to achieve its marketing aims/objectives. Businesses may have several marketing aim and objectives which are met through the integration of marketing techniques e.g. promotion and the marketing mix. Companies like M&S operate on a global basis therefore their aims and objectives may differ for regions, however the main aim for each company would be to inform the market, increase demand and differentiate the product/service. Marketing objectives of Marks and Spencer is to ensure consumers are better informed about the products/services they provide.
Marketing Assignment Kevin Ingram-Gillson Companies incorporate various marketing strategies in order to differentiate and position a product to gain an advantage over the opposing products in a market. Marketing is one of the most important aspects of the business world today, so much so that large cooperation such as Coca-Cola and Microsoft are willing to spend hundreds of millions of dollars on marketing to ensure a successful launch of a new product. With the ever increasing competition in current markets it’s becoming essential for companies to understand the market place as well as the needs, wants and demands of the target market. (Armstrong, Adam, Denize and Kotler, 2012) For a company to gain maximum competitive advantage in a
1-7). If the marketer understands consumer needs: develops products that provide superior customer value; and prices, distributes, and promotes them effectively, these products will sell easily.”(Armstrong & Kotler, 2011, pp. 1-7). McBride Financial Services needs to look closely at the customers and pay attention to what the customer is asking for. “Examine five core customer and marketplace concepts: (1) needs, wants, and demands; (2) market offerings (products, services and experiences); (3) value and satisfaction;
Marketing also can be defined as an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders (Kolton & Keller, 2009). According to Business Dictionary (2010), marketing is “the management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called 4P's: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy” (Marketing, para. 1). The need for marketing was created by the need to exchange items with others in
Using what you've learned from the interview and your research, analyze the customer service environment at this company. How can customer service be improved? What are your recommendations to this company based on what you've learned? One of the major characteristics of a retailing business is direct contact with the ultimate consumers. There are so many factors that make retailing business a success.
This is a very useful source of information as you are researching a business much alike yours as you are competing with it. When researching competition you already have many things alike so you look at it from a customer’s point of view of why someone would rather go to a competitors business over yours. This would be for such reasons such as their U.S.P (unique selling point) or other factors that differentiate their business from yours and you could add or modify that to your business increasing the
-The place- Access to target market, channel structure, channel management, retailer image, logistics. -The price- costs, profitability, value for money, competitiveness, incentives. Once the 4Ps have been looked at when creating a product the way the company then promotes that product will vary between at-least 6 ingredients. The promotional mix – is how a business attempts to communicate with various target audiences and is key element in the overall marketing mix. It consists of main elements which are; Advertising- advertising is a paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor’ advertising is the method used by a wide variety of organisations to -communicate a message to a selected audience - persuade people to buy a product or service - highlight specific features or qualities inherent within the product or service .