1.1 Explain the various elements of the marketing process “Marketing is a business activity in which the organization‚ in order to satisfy the demands of the industry‚ decides the preferred items and/or solutions‚ familiarizes them with consumers‚ determines prices‚ arranges the product sales and impacts clients.” (Liu G 2011) The above definition is describing the core intention of promotion. “Marketing is the process used to find out which items or solutions may be of interest to clients‚ and
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Chapter 18 Creating Competitive Advantage 1) Of the following successful marketing strategies in the past‚ today ’s Nike has learned that the most important is ________. A) creating a recognizable brand image B) having creative advertising C) building deep community with customers D) maintaining big-name endorsers E) moving into new product categories‚ sports‚ and regions of the world Answer: C Diff: 2 Page Ref: 527 Skill: Concept Objective: 18-1 2) To gain ________ requires
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Table of Content: 1.0 Introduction………………………………………………………...3 2.0 Marketing Strategies: 2.1 Products………………………………………………………………………….5 2.2 Promotion……………………………………………………………………......5 2.3 Price………………………………………………………………………………7 2.4 Place………………………………………………………………………………8 3.0 Competitor analysis………………………………………………....9 4.0 Conclusion………………………………………………………….11 5.0 References…………………………………………………………..12 1.0 Introduction: Samsung Group is a Korean company for electronic products in different areas and some
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Introduction – I’m a newly appointed marketing manager‚ I am required to carry out a market environment situation analysis. 2.1 Micro – Some of these factors are connected with the company and affect the business. These factors have an massive impact on businesses and if not taken care of‚ it could destroy a business. A few examples of micro environments are customers‚ trade unions and banks. Micro Internals – Micro internal factors are that factors that can be controlled such as capital
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INTRODUCTION Marketing is the activity/set of institutions and process of creating‚ communicating‚ delivering and exchanging offerings that have value for customers‚ clients‚ partners and society at large. (American Marketing Association) OR Marketing is the management process responsible for identifying‚ anticipating and satisfying customers’ requirements profitably. (Chartered Institute of Management) The following are the importance of marketing: * Promote product awareness to the public
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CHAPTER 1- OVERVIEW OF MARKETING 1. Marketing – social and management process where individuals or groups acquire their needs and wants by creating value and exchanging it among themselves. 2. Marketing Process : * Understand the marketplace and customers needs and wants. * Design a customer-driven marketing strategy. * Construct an integrated Marketing program that delivers Superior value. * Product * Promotion * Price * Place * Build profitable relationships
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Signature: _______________ Date: / / Marketing Assignment Task 1. Ac 1.1. Explain the various elements of the marketing process (1) Provide at least two definitions of marketing and explain in your own words Marketing: a; Marketing includes research‚ targeting‚ communications (advertising and direct mails) and public relations. It is the process by which a firm profitably translates costumers needs into revenue. b; Marketing is helping people buy your product or service. It
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Markets to Target Henry Ford proved that mass marketing can work—at least for a while. Mass marketing is also efficient because you don’t have to tailor any part of the offering for different groups of consumers‚ which is more work and costs more money. The problem is that buyers are not all alike. If a competitor comes along and offers these groups a product (or products) that better meet their needs‚ you will lose business. Multisegment Marketing Most firms tailor their offerings in one way or
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25 November 2013 [MARKETING TOOLS ANALYSIS] U - CURVE Jacobson (1985) observed that higher ROI is earned by companies that are able to charge higher prices‚ most likely because of successfully differentiating their products and the firms that operate at cost advantage. There is seemingly a positive correlation between market share and ROI. The economies of scale‚ market power‚ and quality of management are some of the factors that make market share profitable. As market share increases
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3.1 Explain how products are developed to sustain competitive advantage 3.1.1 Packaging Elements | Competitive advantages | Physical Protection28 gram package‚ reduction of 8gr per bottle | Reduce price per bottle‚ make more attractiveness for the product. | DistributionDirect to retailers | More convenient for customers. | SellingProvide ingredient in each bottle such as: Number of calories‚ % of carbohydrate‚ vitamins‚ and minerals. | Customer understands about Gatorade ingredients
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