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?
Evaluate whether you would spend differently on marketing research. B. Analyze the factors you considered during the simulation in deciding whether to establish a presence in international markets. 1. Explain changes you would make to the analysis if the opportunity required a heavy international commitment. A.
This merger has several different interest groups waiting for results. They include current consumers of both AT&T and T-Mobile, other cell phone providers such as Sprint, Verizon and Cricket, the Department of Justice and the Federal Communications Commission. A main concern of this merger is that of competition. If this deal goes through, it would leave just three major cell phone companies in the country: AT&T, Verizon and Sprint Nextel. This deal would ultimately make AT&T the largest cell phone service provider.
• 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.
Running head: WHICH TECHNOLOGICAL CHANGE HAS HAD THE LARGEST Which technological change has had the largest effect on life in this country? Why? Terry University of Phoenix I perceive that the largest change has come from cell phones. There was a time when cell phones first broke into the market in 1982 that people never believed they would be where society is today. According to cells online.com (n.d.), “Consumer demand quickly outstripped the cellular phone system's 1982 standards, by 1987, cellular phone subscribers exceeded one million, and the airways were crowded.” In 1982 cell phones were mostly owned by wealthy individuals or upper echelon business owners.
The three key elements of product positioning strategies, competitive advantage and value propositions are integral in the successful marketing of the product and as seen from the examples throughout the essay are how major cooperation’s effectively differentiate their products from the other leading offerings from other brands. Thus the conclusion is drawn that for a company to gain maximum competitive advantage and take majority share of a market the corporation marketing the product must differentiate their product from the competition in order to create value for customers and in turn create profit and customer equity. (Armstrong, Adam, Denize and Kotler,
For a company to retain talent it must offer more incentives for the employees than that of its competitors. Your company encourages the decisions and ideas of the employees but more programs could be put in place to help retain employees. Implementing a program that offers rewards for time and cost savings not only benefits the employee but also the company by projecting a positive image of employee worth to the company. Keeping the companies hiring practice on the national level is required for all employees that work in the retail stores but if there is a need for technology or manufacturing of a particular product I would recommend global labor. The ability to tap into the global labor market will make the company more competitive by being able to offer competitive prices on products due to lower overhead cost associated with the offset in the labor cost.
Determine how best to use your company's strengths to overcome the strengths and overall performance of the competition you've found. How can you do even better? Possibly you'll have an offsetting strength that offers even more to customers. Start working on plans to develop your business into the dynamo you planned for it to become invest the time to double check your competitors for changes they've made. Examine the marketplace to make sure new competitors haven't found a way in without you knowing it.
• 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?
Assessment Task 1: Identify marketing opportunities PART A 1. Market and business needs 1. Market share and competitors’ information Recent years have witnessed a fundamental shift in the structure and dynamic of the global smart phone landscape. Apple is a notable exception to this dynamic, but has nonetheless created an ecosystem in which its strength in content and services is helping to create industry-leading profit margins for its hardware. A third of the value of the smart phone market today is captured by Apple, which had a 28 percent operating margin in 2013, while the majority of other first- and second-tier manufacturers — with the exception of Samsung — hovered around the zero profit line.