The marketing research is a great way to find ideas to make a company grow bigger and better. It also helps knowing what the competition will do, and how a company can make an even better idea to increase the number of the consumers. Competitive marketing intelligence is also important to a company when doing marketing research on the competition. As stated earlier, Competitive intelligence is the systematic collection and analysis of publicity available information about consumers, competitors, and developments in the marketplace. Both research and intelligence will help companies stay competitive; decide what is best for the company and the consumer.
JCT2 Task 2 A1) There were many aspects considered in selecting how to design the product for the markets that were chosen in the simulation. I considered the markets and their needs, and the products themselves to evaluate which would be the best for my company to bring to market. When I choose the name for the company I wanted to select a name that would suggest to the customer that they were electing to do business with a company that was focused on the cutting edge of technology, and with a company that was committed to delivering business solutions for their growing needs. TechSol was created to relay those principals. The two offerings to be brought to market were also given product names that would hopefully elicit some consideration by the market customer.
TLIP4001A ASSESSMENT ACTIVITY 1: How can examining future opportunities and directions help towards the contribution of a shared vision and values for the workplace, and the shaping of business goals and objectives? A customer service delivery plan is a strategic and tactical plan for achieving marketing objectives. It is a detailed document that determines how new business will be acquired and how the existing customer base will be maintained and strengthened. Customer service delivery plans are not just about targets and how to achieve/exceed these targets. ASSESSMENT ACTIVITY 2: Why is it necessary, as part of the planning process for customer service teams, to review previous performance and successful approaches and to identify factors affecting performance?
Their brand strategy is to reach to potential learners earlier in their decision cycle. This strategy will focus on marketing on television, print advertising, and social media. This report analysis will explain how the online education industry is competitive, how competitive advantage is gained over other competitors. I will explain what steps Capella has taken to stay competitive and attractive to learners. A SWOT analysis will list strengths, weaknesses, opportunities, and threats of Capella University.
Benchmarking is “discovering how others do something better than your own firm so that you can leapfrog the competition” (Kerin, Hartley, Berkowitz, Rudelius, 2006). Using the frequent purchase program, Kudler can collect new data from its customers. Through the use of market surveys, similar to the 2006/2007 market survey, Kudler will be able to determine what its customer catering needs are, if there is a demand for it, the types of pricing the customer would find acceptable and ways in which to promote it, in addition to adding to its marketing mix (also known as market orientation). As with market surveys, Kudler can conduct research on the types of food available on the market and determine what new products are popular with consumers through its food marketing trends studies. Pricing Kudler wishes to offer competitive pricing relative to other caterers.
What effect did the product life cycle have on the product in the simulation? The product lifestyle cycle allows for the customer to buy into the products image and product. The simulation allowed me to develop and enhance marketing ideas, and examine what was important to the customer. The perceptual map made the marketing strategy visual and making certain valued elements relevant for customer perception. What is the relationship between differentiation and positioning of products or services?
Read the YOU DECIDE scenario and using the simulation information, prepare a report. Please ensure use of APA format (see Doc Sharing ). Discuss the development of an integrated and cost effective marketing communications campaign. In your paper, which is double-spaced, be sure to answer and/or do the following: 1. Given what you read, what questions and concerns do you have for the Marketing Director of Consumer Products?
It is useful for market segmentation, improving positioning of a product or service, and also provides with insights in developing new marketing and communication strategies for brands and its products. Please see Appendix I for different types of such analysis. Our report provides overview of Burberry personality, analysis of lifestyle of its consumers and shows how psychographic analysis helps to
The presentation must provide specifics on your recommended technology upgrades and your rationale behind them. The presentation must also address the following questions from Poppler’s management: How are POS, SKU, and RFID related, and what components should be integrated into the business? Will POS systems improve the efficiency of the business when compared with existing systems, why or why not? What customer tracking systems are available? Which tracking system would work best for Poppler’s and why?
• Identify quantifiable elements that can be used to evaluate, monitor, and control marketing effectiveness. Week Two: Marketing Research • Justify the importance of marketing research in the development of marketing strategy and tactics. • Analyze the importance of competitive intelligence and analysis in marketing. • Identify various segmentation criteria that impact target market selection. • Describe the various types of organizational buyers and consumers and the factors that influence their purchasing decisions.