MKT 421 Complete Class Materials https://hwguiders.com/downloads/mkt-421-complete-class-materials MKT 421 Complete Class Materials MKT 421 Marketing Week 1 DQ 1 What is the definition of marketing? What are the benefits and drawbacks of incorporating marketing into the sales function of an organization? Do you think that marketing should be included as part of the sales organization within a company? Explain why or why not. MKT 421 Marketing Week 1 DQ 2 Select an organization with which you are familiar.
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?
• Explain the importance of marketing in organizational success. • Describe the elements of the marketing mix. • Explain the importance of the marketing mix in the development of marketing strategy and tactics. • Create a marketing plan. • Identify quantifiable elements that can be used to evaluate, monitor, and control marketing effectiveness.
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?
After evaluating the different modes of feedback, the responsibility of marketing managers is to make the appropriate decision to best position the organization to meet the constantly changing needs and wants of consumers. Marketing managers use different tools like sales, costs and performance analyses to make the appropriate decisions and changes to everything from the Marketing Mix to compensation of sales reps to the organizations marketing budget to best meet the needs and wants of its target market. Additionally, control consists of adapting prior plans and decisions to meet the goals and objectives of the organization for the future. This is even implied to anticipate the future goals of the organization and the products and/or services it will offer in the future to maintain or improve its competitive advantage over the competition. 7.
From the complied information the decision making process begins. Marketing Strategy is defined by businessdictionary.com as an organizations strategy that combines all of its marketing goals into one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the right product mix in order to achieve the maximum profit potential and sustain the business (BusinessDictionary.com, 2012). The marketing strategies and tactics of Kudler Fine Foods are preceding in the right direction and with minor adjustments and increased marketing research the goals of increased revenue and cost reduction will be met. In conclusion, marketing research is an essential part of Kudler Fine Foods’ ongoing success.
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?
For example, the type of industry the business is operating in or the risks involved into entering new markets. These strategies can be linked to The Ansoff Matrix also known as the Ansoff product and market growth matrix is a marketing planning tool which usually aids a business in determining its product and market growth. This is usually determined by focusing on whether the products are new or existing and whether the market is new or
b) Explain the services offered by the advertising agency/agencies and how the organisation and agency/agencies work together in the development of a successful promotional campaign. c) Make sure you know about the activities that advertising agencies participate in, as this will help you in evaluating the contribution advertising agencies can make to a successful campaign. Complete as part of your report 1 (P3)
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