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Effective marketing has been an essential aspect of business tactics. The appropriate methods of marketing, consumer behavior, and effectiveness of marketing were all involved in business policies. Growth and the ability to with stand fluctuating economies were critical elements of business planning as well. This chapter will discuss the history of business marketing, the methods of business marketing, consumer behaviors, and the effectiveness of business marketing to stimulate progression.
History of Marketing
The title of the article was Origins of marketing thought in Britain by Brian Jones and Mark Tadajewski. This article was published in the European Journal of Marketing, volume 49, issue 7/8 on pages 1016-1039 in 2015. The article
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The article was published in the Journal of Consumer Researcher, volume 41, issue 2 on pages 342-360 in August 2014. The article was written by Jayson Shi Jia, Baba Shiv, and Sanjay Rao. The article was found in EBSCO host database. (Shi Jai, 2014)
The authors attempted to covey through six different investigations how consumer selection is often based on the relative visual appeal of competing products. (Shi Jai, 2014) The article’s discussion of consumer behavior compared the perceptions, the reduced distinctiveness and the attractiveness of products to illustrate how customers chose products. The authors demonstrated with the “product-agnosia” effect how changes in visual perception will impact consumer behavior toward any given product or service. The sorting of visual information experienced by consumers is driven by their ability to discern between products in relation to their own sensory development. The more of visual brands given within an advertisement the less acuity perceived by the consumer. This has tended to weaken the uniqueness of well-known merchandise simply by the design. The study found the impression for merchandise well-known on a technical level was the opposite of those product perceived by their design. The usefulness of displaying additional data or material was contingent on consumers’ sensory
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The study found the use of various forms of media was still the most effective means of marketing; most specifically mass media. (Reinold, 2012)
Other than a formula depicted in table 7 of the study; there was no means which complied with the standards outlined in the current concept of integrated marketing communications (IMC). (Reinold, 2012) The authors used journal of marketing communication and integrated marketing research to compile the information for the case study. The effectiveness of marketing will be an important factor of small business planning. Businesses will be expected to consider the cost, reach of potential customers, and the managing of all channels used in reaching possible customers. (Reinold, 2012)
Reinold and Tropp found during the study, for effective small business marketing the strategical plan must be focused on consumer/consumer behavior, adapt unique and relevant content within internet-technology based technology for recipients, manage all possible channels of contact with recipients, and produce measureable results for reaching the business goals (Reinold, 2012, p.
This section should consist detailed information in regards to the consumers, a company analysis, possible collaborators, competitors, and the business climate (Tanner, Jr. & Raymond, 2012). Since consumers are the center of all marketing plans, they should be the starting point to the market section. Break the potential consumers into segments, starting with the most important and working down to the least important. Readers will want to know; who does the market consist of, the reason these consumers purchase the products they do and how they fill their personal value equation, their current buying process and the needs the offering meets for these potential consumers. Readers should be able to understand how each segment differs and how the total offering will satisfy the needs of each
A vast number of studies have made attempts to define the term Integrated Marketing Communications. One of the most succinct and widely accepted definitions of the IMC concept is that defined by the American Association of Advertising agencies. That is, "a concept of marketing communications planning that recognizes the added value of a comprehensive plan that evaluates the strategic roles of variety of communications disciplines (for example, general advertising, direct response, sales promotion, and public relations) and combines these disciplines to provide clarity, consistency a...
Eric H. Shaw, 2012, ‘Marketing strategy: From the origin of the concept to the development of a conceptual framework’, Journal of Historical Research in Marketing, Vol. 4, No. 1, pp. 30-55
Marketing is a core pillar of an organization and contribute significantly in its prosperity through attaining the laid down targets as well as scope of development. The position of an organization is hugely based on its competitiveness and capacity to capture a significant portion of the market in relation to the prevailing needs of consumers. Interaction of the organization with the consumers and the potential consumer in the market arena is attained through the marketing wing of the organization (Ferrell& Hartline, 2012). The preferences of the consumer and avenues of satisfaction are aligned to the established marketing frameworks. However, the success of organization marketing is highly inclined to the marketing strategies formulated and adapted towards coping with competition and eventually enhancing firm competitiveness.
Today’s business environment is highly dynamic and competitive. In order to become successful, companies must use advanced marketing techniques and branding strategies. The significance of Integrated Marketing Communication (IMC) is therefore, very critical. IMC sends out a single message through different media vehicles, which helps the company to target a wide variety of audience. According to Gerber (2008), Integrated Marketing Communication is the process of using a combination of different types of marketing communication to send the same message to consumers. The following report lays an IMC plan for N...
Mooij, M.de. (2004). Consumer Behavior and Culture, Sage Publications, Page 102, Page 119, Page 274, Page 275
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
It is a well-known fact that marketing is a way to get the business off the ground. Without marketing, then no one will know about the goods and services a brand is selling. “Good marketing makes the company look smart. Great marketing makes the customer feel smart.” (Chernov).
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
Marketing is not a static construct, but it grows and develops over time to become what is known as marketing today. “The marketing revolution divides neatly into four separate eras’, eras’ which parallel rather closely the classic pattern of development in the marketing revolution.” (Keith, 1960). The first of these 4 eras was until the 1930’s and was production and profit orientated, and are considered to be outdated. During this era “the new product decision was product oriented not marketing orientated.” (Keith, 1960). “The second era was a sales oriented era, whereby marketing was seen as a series of activities designed to produce profit through ascertaining, creating, stimulating, and satisfying the needs/wants of a selected segment of the market.” (Eldridge, 1970, p. 4). The 3rd and 4th eras are a representation of what
2. Today marketers can collect and analyze data about consumer behavior, one person at a time; this is the relationship approach to marketing.
Marketing is a very broad term, which encompasses all the activities that help businesses in identifying their customers and needs of their target market, utilising all the communication resources in order to target their target market, eventually persuading them to purchase the organisations products and services. It is much broader than the concept of selling, as selling just includes techniques of direct communication used to persuade the customers to buy the products and services of an organisation. In fact, sales are the integral part of marketing. Marketing also helps organisations to utilise all resources in an efficient way to gain customer satisfaction, which will eventually help in the growth of the company. While, on one hand, marketers tend to focus on the needs and preferences of the customers, they also need to keep a close eye on their competitors (Gillespie, 2010). Companies always look to beat down their competition with providing better products and/or services, or by providing less-expensive goods to the customers than their competitors, in order to achieve or maintain the leading position in the industry. The core focus of this paper is to identify and discuss the core aspects how managers could maintain the marketing activities of the organisation in the global context.
Marketing at McDonald's n.d., McDonald's Corporation, accessed 23 August 2011, http://www.mcdonalds.co.uk/static/pdf/aboutus/education/mcd_marketing.pdf>.
Petty Ross D. Editor's Introduction: The What and Why of Marketing; American Business Journal, Vol. 36, 1999
The main topic for this Extended Essay is to analyze the effectiveness of company’s market strategy. A marketing strategy can be defined as a process that helps a business to optimize the opportunities in order to complete business objectives, which mainly gain profits. It includes all basic and long-term field activities of marketing that deal with the analyzing of initial strategy, evaluation of the strategy, and making of a new strategy if the initial strategy is found to be ineffective or even might cause loss. (Homburg, Kuester and Krohmer 2009) To make sure the effectiveness of marketing strategy, its crucial to establish the right marketing mix which cover all the element needed in marketing a product. (Clark, et al. 2009)