Case Analyses - The Global Baby Bust 1. What are the implications of the global baby bust for marketers of consumer goods? * A marketplace responding to an aging population For a number of the challenges associated with aging‚ consumers can find a helpful ally in the many manufacturers and product designers who are catering to "niche markets" (gearing their products specifically to address age-related needs) and enhancing their traditional products targeted to seniors and older boomers.
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Implications for Marketers Marketing strategies (Marketing mix elements – price‚ product‚ distribution‚ and promotions) has to reflect the brand and its image appropriately. Marketers should constantly be up to date with the changes in consumer’s demographic‚ lifestyles‚ and trends in order to develop marketing programs that appeals to them‚ so that they are able to be more adaptive to the marketing programs to the brand to achieve brand awareness. Marketers
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groups of buyers. However‚ one thing the book doesn’t mention is what if these groups become smaller in size. Demographic trends greatly influence marketing segments and ultimately demand for goods and services. Towards this end I would like you to reflect on area that may affect us all in the future‚ America’s Baby Bust. To get an understanding of this I would ask you read the Wall Street Journal article entitled “America’s Baby Bust” appearing in the Feb2-3‚ 2013 issue page c1. You can locate the
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some valuable findings for marketers: Perception has a crucial impact on the image a consumer attributes to a brand or product. Customer’s perception can be influenced by personal‚ situational and stimulus factors. Image is the long lasting perception of a brand and influences consumers’ buying decision. A positive image results in economic benefits. The link between perception and image is the positioning. There are five major positioning strategies through which marketers can change consumers’ perception
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“What Do Marketers Do?” “The Role of a Marketer is to understand consumer behaviour and recognise market opportunities so that the organisation can adapt and stay competitive” (Sharp 2013). Marketers make up part of the management team in an organisation and each individual marketing job is unique to each company and its structure. Marketing is a constantly changing environment and is “putting the right product in the right place‚ at the right price‚ at the right time” (Marketing Skills Training
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Marketers’ main emphasis is on the customer while sellers focus on the product. A seller is only interested in converting product into cash‚ he is interested in a long lasting relationship but a marketer believes that business begins with friendship and after sale relationship .A seller sells what the producer has and need not necessary be a product or service that the buyer wants while marketer markets a product a service or a product that meets the need of buyer. This is attested by the way Jane
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Significance of the Value Equation for Global Marketers According to Keegan (2002)‚ the value equation can be considered as a guide to create perceived value for customers by any organization operating anywhere in the world. The value equation is known as V=B/P‚ where V is the value‚ B is benefits and P is price. The value can be increased in two ways‚ by increasing the numerator ‘benefits’ or by reducing the denominator ‘price’. Keegan (2002) elaborates that the benefits can be increased by
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What Do Marketers Do? Introduction to Marketing Consumers are continually faced with an array of products‚ services and offers in their daily lives. For this reason‚ the need for marketers has become more crucial for businesses across the globe if they intend to survive in this competitive day and age. But what exactly does this role entail? This essay will aim to briefly touch on the key aspects that manifest this diverse occupation by examining firstly their involvement in market research‚ implementing
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Colorado Technical University Phase 2 Discussion Board MKT305-1302A-05 Debra Jimenez Wednesday‚ April 17‚ 2013 Today marketers need both deep customer understanding and fresh customer insights that are based on fact not simple intuition or very small samples. VALS grounds its work in consumer data‚ accurate research and insightful analysis make VALS consultants ’ recommendations actionable. The benefits of taking the VALS Survey is they gain a fresh perspective by getting into the heads
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Federico Currò Msc International Marketing ID. 12722219 Innovation diffusion‚ social change‚ and implications to international marketers. The history of social evolution demonstrates how the diffusion of innovation has often resulted in significant social change. However‚ the way in which innovation affects society is complex and controversial. This essay aims to analyze the phenomenon in the contemporary era‚ applying the analysis to an international
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