This assignment is about marketing, where I will produce a marketing
strategy for a new or existing product. This unit introduces the major
principle and functions of marketing; I will look on customer needs,
and creating a suitable strategy or marketing mix, which will satisfy
customer needs. In this unit I will experience the marketing process
from carrying out initial research about a market, investigating the
principles of functions of marketing and the way in which it
contributes generating income/profit in a business.
Marketing is the process of planning and executing the conception,
pricing, promotion, and distribution of ideas, goods, and services to
create exchanges that satisfy individual and organizational goals.
Marketing also involves analyzing customer needs, securing information
needed to design and produce goods or services that match buyer
expectations, and creating and maintaining relationships with
customers and suppliers.
Marketing is essential to the success of any business. Its primary aim
is to enable businesses to meet the needs of their customers and
potential customers, whether then it’s for profit or not. To make my
strategy successful for business it must:
Ø Understand customer needs
Ø Understand and keep ahead of competition
Ø Communicate effectively with its customers to satisfy customer
expectations.
Ø Coordinate its functions to achieve marketing aims
Ø Be aware of constraints on marketing activities
I will also be considering the importance of developing and
maintaining a relationship with its customers, potential customers and
other stakeholders.
I will look upon on establishing customer needs, methods of analysing
marketing opportunities, and the m...
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...ons can exert a
major influence upon the stores’ accessibility and attractiveness to
consumers. Planning the selection process as carefully as possible and
using methods described
should maximise the success. Marks and Spencer pays particular
attention to social and geodemographics, along with consumer spend,
before deciding on a location.
Own brands are desirable products to offer, as they offer profitable
margins and a high level of control over the marketing aspects of
management. Efficient use of these products can increase store
loyalty.
As I did a oral presentation I used few pictures and such to show the
packaging design, as I talked about the other product and the company,
and mainly on one of the marketing mix ‘the product’. My presentation
could have been bit longer with more details and also posters to show
big images then small ones.
My organization, Trader Joe’s, is not an international business. Their stores are all located in the United States; therefore, I chose Whole Foods, who is a main competitor of Trader Joe’s for this assignment.
I have improved most in the WOVE area of visual communication this semester. Beginning the course, I did not know the correct way to create a powerpoint presentation that supports the speaker without being a distraction. This semester, I learned that only minimal wording is required on the slides to deliver the main points. The majority of the slideshow can be pictures, charts, or graphs, so long as it remains relevant to the topic. I specifically remember using this new technique for my part of the visual analysis presentation, keeping my bullet points to under five words, if possible.
This report will investigate the British retailer Marks and Spencer. It will analyse why decision making, planning and goal setting are important to the organisation. Decision making is a process of identifying problems and opportunities then resolving them. Mission planning is the way that organisations aim to achieve their goals. All organisations have goals, these are the reasons that the company exists. Boddy (2005:178) states “A goal is a desired future state for an organisational unit. Goals provide a set of detailed objectives for an organisation’s desired outcomes”. Within this report there is a brief outline and history of Marks and Spencer. It will then look at the missions and goals of the organisation and will go on to critically evaluate planning and decision making processes that the organisation could be using. To conclude it will summarise the findings.
Business strategy is the means by which firm’s plans to achieve its goals and objectives. It can also be termed as organization long-term planning. The strategy covers periods between 3-5 years and sometimes longer. Businesses use two major types of strategy, general or generic and competitive strategies. The overall strategy involves strategies of growth, globalization and retrenchment. The competitive advantage includes low pricing, product and customer differentiation. We will look at the business strategy used by Marks and Spenser (Cole, 1997). The company is a British multinational located at Westminster London and specializes in clothes and luxurious food products.
According to healthpromotion.ie healthy eating is about having a balance diet that contains all different types of foods from each food group. When eating the right amounts of food from each food group you get all the nutrients you need to stay healthy and have a good healthy weight. There is six main food groups that are recommended to have daily:
There are so many marketing techniques that companies use in today’s world. There are also many competitions that companies face because of the advancement of marketing and different kind of brands. Old spice does a great job advertising and campaigning by using classical conditioning. Old Spice is an American brand that males use for grooming, they do a great job marketing the product and presenting them to consumers. Classical conditioning is when theorists teach either animal or human certain behaviors passively through repetition. After the theorist teach the animals, the theorist measure and see what the response. One of the most important thing about classical conditioning is to see something repetitively, and learning how to behave. Old Spice uses classical conditioning to influence consumers’ attitude because it shows the commercials repetitively. Classical conditioning also involves unconditioned stimulus, conditioned stimulus, conditioned and unconditioned response. Old spice’s commercials have everything included. Response campaign was a huge success because it involved everyone; it included mass media such as TV, print and digital ads.
Marks & Spencer is one of the UK's foremost retailers of clothing, foods, homeware and financial services, boasting a weekly customer base of 10 million in over 300 UK stores. Marks & Spencer operate in 30 countries worldwide, and has a group turnover in excess of £8 billion. It has specific values, missions and visions. It’s main vision is ‘to be the standard against which all others are measured’, it’s main mission is ‘to make aspirational quality accessible to all’, and it’s main values are quality, service, innovation and trust. (www.marksandspencer.co.uk).
Throughout the reign of Lenin and then Stalin the change from a patriarchal society to a more equal society has certainly been a positive outcome. The seemingly dictatorial and coercive government, however, was not a favorable outcome. It is clear that there is much room for improvement in Russian society at the end of Stalin’s reign.
When using slides, color contrast is another excellent way for a speaker to catch the audience’s attention! The C.R.A.P. design principles also can use shapes and symbols to convey a message. Visual elements using the four basic design principles are probably the most important pieces of information that should be carried through the presentation. Using visual elements, such as infographics, can contribute to how information can be remembered or memorized easiest by the audience. Images or infographics are great tools when promoting attention and retaining information. Images that are easy to comprehend, involve forming visual memories. They reinforce the process of memory recall and visual elements (Keogh,
According to most historians, “history is told by the victors”, which would explain why most people equate communism with Vladimir Lenin. He was the backbone of Russia’s communist revolution, and the first leader of history’s largest communist government. It is not known, or discussed by most, that Lenin made many reforms to the original ideals possessed by many communists during the nineteenth and twentieth centuries. He revised Karl Marx and Friedrich Engles’ theories to fit the so-called ‘backwardness’ of the Russian Empire. Lenin’s reforms were necessary to carry out a socialist revolution in Russia, and the contributions he made drastically changed the course of history. It can be assumed that, the Soviet Union would not have been as powerful if it was not for Lenin’s initial advocacy of violence and tight organization.
Recommendations to achieve a sustained competitive advantage: Online, mobile, and store purchase will certainly increase customer traffic with the online and store combinations gives Target Corporation with a best possible low-cost price. A best-cost provider strategy allows Target to position itself and compete with low-cost providers such as Walmart. In addition, it employs a competitive strategy with a designer label along with superior supply chain, increased operational capabilities, and skilled employees. . The strategy of sending coupons are huge for a customer, so increase discount based on their purchase history and use the store brand credit card to attract more customers.
We have come to the phase that allows Team A to apply the research tools and implement a market research plan. Team A will review various marketing research tools that are available for researchers to use such as secondary research, secondary on-line research, exploratory research, nondirective interviews, and the Likert scale. Our secondary research is showing that consumers are demanding healthier menu options. This market research implementation plan will develop several market research tools; including questionnaires’ and the Likert scale to verify if McDonald’s consumers genuinely want and will purchase healthier menu items.
Market opportunities for breakfast cereals is vast, some segments of the market have been neglected, most notably that of the over-50’s. Insightful presentations were given at the “Older, Richer, Wiser” Conference that would suggest the over 50’s market segment is targetable.
Practice is a major role that needs to be played when it comes to presenting. Practicing, I feel gives you more confidence in your speech, and more preparation than if you were to not practice. Rehearsing before the speech then presenting makes you seem like you actually know what you are talking about even if the only reason you know all these facts is because of study and practicing. Practicing through my speech really helps me with my presentation, if I practice enough, I feel very confident to where I wouldn’t need t a paper to look at notes during the speech. This concept is important for anything. Practicing will always help you with any future task.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.