Chapter 1
Demand States 1. Negative demand 2. Nonexistent demand 3. Latent demand – strong need that cannot be satisfied by an existing product 4. Declining demand 5. Irregular demand 6. Full demand 7. Overfull demand – more would like to buy than can be satisfied 8. Unwholesome demand – attraction to products with undesirable social consequences
Key Customer Markets - Consumer, Business, Global, and Nonprofit and Governmental
Types of Needs – Stated, Real, Unstated, Delight, Secret
Types of Marketing Environments
Task - includes the actors engaged in producing, distributing, and promoting the offering
Broad – demographic, environment, economic, social-cultural, natural, and technological
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Forms of Strategic Alliance 1. Product or service 2. Promotional alliance (i.e. Disney toy Happy Meal) 3. Logistics alliance 4. Pricing collaborations (i.e. hotel and car rental companies)
4. Program Formulation and implementation
5. Feedback and Control
Marketing Plan Sections 1. Executive Summary and TOC 2. Situation Analysis – presents relevant background data on sales, costs, the market, competitors and various forces in the macro environment 3. Marketing Strategy – marketing manager defines the mission, marketing and financial objectives, and needs the market offering is intended to satisfy as well as competitive positioning 4. Financial projections – include a sales forecast, an expense forecast and a break-even analysis 5. Implementation Controls – outlines the controls for monitoring and adjusting implementation of the plan
Chapter 3
Marketing Information System – consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely and accurate information to marketing decision makers
Marketing Intelligence Systems – a set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment
Analyzing the Macroenvironment 1. The Demographic environment a. Worldwide population growth b. Population age mix c. Ethnic and other markets d. Educational
1. After reading the article I have changed my thinking on how I would reach out to the baby boomer generation. I used to think it was wrong to use social media to market towards baby boomers and generation x and I was wrong. I am pretty amazed on how many people from this generation are using sites like Facebook, Linkedin, Twitter, and Myspace. I will definitely keep social networking at the top of my list as a way to market towards these generations. More specifically I will primarily use Facebook as the main source of marketing because more than 1/3 of baby boomers and half of Generation X has a Facebook page.
X Ltd imported television sets from Taiwan where they were manufactured by the Taiwan Toy Company. The Taiwan Toy Company has an excellent worldwide reputation for producing high quality, very safe products. One of the television sets developed an electrical fault when being shipped to Australia. The fault could only have been detected if every television set was individually tested by X Ltd.
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The best time to promote Victoria’s Secret would be in the afternoon, when women are getting home from work or out of school. They promote with young sexy models wearing their lingerie which may attract women because they want to look sexy like the models. Victoria’s Secret has it owns Victoria Secret Pressroom (vspressroom.com). This website has information on the latest styles, seasonal looks news, events and press releases. There are also articles released on trends and styles in magazines by Victoria’s Secret. Lastly, VS has mobile messaging and advertising. They are on Facebook, Pinterest, having their own apps and they send updates to people who sign up for this.
Delivers brand-conscious long and short-term growth solutions in support of sales and revenue goals. Researches, analyzes, builds business case for and executes ROI-driven marketing programs and sales tools. Nurtures partnerships across lines of business to ensure alignment with enterprise and regional business strategies. Polished communicator who fosters collaboration and builds consensus among stakeholders. Thrives on complex leadership demands and works well within time-sensitive environments. Versatile strategist, target marketer, and sales support professional with focus on smart branding, reputation management and corporate compliance. Strong focus on customer experience and customer expectations in the financial industry.
The core benefit of the ‘Kraft Tiger Energy Choc’ (Kraft Tiger) biscuit is its nutritional value. These biscuits are fortified with the nine vitamins and six minerals recommended by the World Food Programme. They are enriched with Vitamins such as Vitamin A, B1, B2, B5, B6, B12, D, E, Calcium, Magnesium, Phosphorus, Zinc and Iron. These vitamins can help to fulfill consumer’s daily intake of vitamin nutrition in addition to keeping their stomach full.
What has Accenture done well to target its B-to-B audience? Has Accenture done the right thing by dropping Tiger Woods as its spokesperson? Why?
In the United States, being more health conscious is becoming more popular. As a result, carbonated drinks are becoming less admired, and fruit drinks are growing in demand. Therefore, the market for low-carb drinks and fruit drinks is expanding. There are many competitors in the fruit drink industry. NAA Bottling Company has critical issues that they face, for example, they need to make sure they have a secure retailer, and they need to ensure they have adequate shelf space in the stores. NAA Bottling needs to differentiate themselves from their competitors’ products, and they need to decide whether they want to associate their fruit drink line with their carbonated beverage line. NAA Bottling Company needs
Although these two levels of marketing are different in scope and activities, they are connected by the process of marketing planning. Marketing manager must be able to grasp the levels of a marketing plan both are the big picture of strategy formulation and the details of tactical implementation.
“The marketing environment consists of the actors and forces outside marketing that effect marketing management's ability to develop and maintain successful transactions with its target customers.”(Kotler 2009). To be specific, the marketing environment can be divided into the microenvironment and macro environment in terms of the different level of elements
Since the beginning of mass production and the globalization of economic activity, marketing has continued to develop to an extent that it has gained a predominant role in the modern business environment. This is mainly because marketing helps the organization to establish a link with its customers since it's geared towards satisfying the needs and wants of both parties through the exchange process. In addition to being human activity, marketing basically involves various initiatives like product development, communication, research, promotion, and pricing. As a result of its predominant role in the modern business environment, the manager needs to gain thorough knowledge of marketing in order to conduct their functions in effective ways.