Before making any marketing strategic decision, it is always important to review the MM’s current go-to-market strategy, collect and analysis past and present data in order to identify opportunities and threats which may have potential impact on both short-term and long-term performance, and the…
Burns, A. C., & Bush, R. F. (2012). Basic Marketing Research. (S. Yagan, Ed.) Upper Saddle River, NY, US: Pearson Education Inc.,.…
Walker, Orville C., Harper W. Boyd, Jr., John Mullins, Jean-Claude Larreche. (2003). Marketing Strategy - A Decision-Focused Approach. 4th Edition. McGraw-Hill. New York, NY.…
Perreault, Jr., W. D., & Cannon, J. P., & McCarthy, E. J. (2010). Essentials of marketing: a marketing strategy planning approach (12th ed.). New York, NY: The McGraw-Hill Companies, Inc.…
Armstrong, G., & Kotler, P. (2011). Marketing: An introduction (10th ed.). Upper Saddle River, NJ: Prentice Hall. Retrieved From: https://ecampus.phoenix.edu/content/eBookLibrary2/content/DownloadList.aspx?assetMetaId=fd2c6dab-ac8a-4084-93cf-8072542432b2&assetDataId=10ce2e03-bd10-4d1d-98f1-a251e2b8bf1a…
Customers play an essential role in a company’s marketing. Marketing decision makers always make a strategy to attract their target customers and try to establish a close and positive relationship with them. According to Kotler and Armstrong (2005, p. 124), “Customer markets consist of individuals and households that buy goods and services for personal consumption”. Therefore, a company’s executive officer may make a targeted strategy to satisfy one or more specific groups of consumers.…
Table of Contents1.0 Executive Summary32.0 Situation Analysis42.1 Environment42.1.1 Demographic environment42.1.2 Economic Conditions and trends42.1.3 Social-Cultural environment42.1.4 Technological environment52.1.5 Political Legal environment52.1.6 Natural environment52.1.8 Environmental Opportunities52.1.9 Environmental Threats62.2 Industry62.2.1. Suppliers62.2.2 Consumers62.2.3 New Entrants72.2.4 Competitors72.2.5 Substitute Products (Threat of Substitute products)82.2.6 Industry Opportunities82.2.7 Industry Threats82.3 Organization82.3.1 Strengths82.3.2 Weakness92.4 Marketing Strategy92.4.1 Objectives92.4.2 Analysis of Sales, Profit and Market Share92.4. 3 Analysis of target market(s)102.4.4 Analysis of Marketing Mix Variables112.4.5 Summary of Marketing strategy's strength and Weakness:123.0 Problems found in Situation analysis123.1 Primary Problem123.2 Secondary Problem134.0 Strategic Alternatives for Solving Problems134.1 Description of Strategic Alternative 1134.2 Description of Strategic Alternative 2154.3 Description of Strategic Alternative 3165.0 Selection of Strategic Alternative and Implementation176.0 Conclusion17Bibliography/List of References181.0 Executive SummaryJames Patterson is one of world's best-selling crime fiction authors whose brand led to annual sales of $120 million. Prior to becoming a full time writer, he was the chairman of a major advertising agency. During the span of his career he designed and launched many award winning advertising campaigns for many large corporations. He published his first book in 1976 followed by three novels between 1983 and 1995. He published 16 novels between 1996 and 2003, most of them in the crime fiction genre. Patterson has used his past experience to market his own books and build a brand. Our case analyzes the problems involved with marketing James Patterson and aims at providing solutions. The study can be carried out in two ways, i.e. either considering James Patterson as an author or a…
This part of the marketing management Group Project will explain how we can evaluate the attractiveness of identified market segments and why I think our firm should pursue market specialization. I will explain how we can evaluate the attractiveness of identified market segments by identifying and explaining the five key criteria that make a segment plan useful followed by a brief description of how population size, growth rates, and scale of economies can affect profits and of course why we want this venture to be low risk. Next I explain market specialization and discuss why I think it is the most beneficial marketing option. I will begin by explaining how we can evaluate the attractiveness of identified market segments…
As competition has increased and since viewers and advertisers have a lower perceived value of the product they are providing, TFC is receiving pressure to lower their price per unit of advertising by 10%. Dana Wheeler is a marketing executive who was hired to help the network identify ways to recapture and maintain market share that is being lost to competitors. The network’s management has been reluctant to change marketing methods and programming because historically…
Mullins, J. W., Walker, O. C., Boyd, H. W. (2008). Marketing Management: A Strategic Decision-Making Approach (6th ed). Boston: McGraw-Hill/Irwin…
Breadth and Depth of Analysis of the Current Marketing Strategy (including ad) for chosen Product/Brand. * Is the current marketing strategy (4Ps) and 3Cs well described and analyzed? * Are the current weaknesses identified compelling?…
Ferrell, O. C. & Hartline, M. D. (2008). Marketing Strategy (4th ed.). USA: Cengage Learning.…
Marketing is an “essential department of an organization” (Jiang, 2009), therefore it is vital to place a certain type of individual in the management position to manage this functional area. Specific tasks that are completed in this department are research of current and future market prospects and developing of new ideas that turn into products and services (Jiang, 2009).…
Cravens, D. W. & Piercy, N. F., (2006), Strategic Marketing, (8th Edition), New York: McGraw-Hill.…
Meru Cabs, operating in four metros of the country has popularised and boosted the concept of radio cabs.…