Marketing Management Essays

Marketing Management Essays Marketing Management Essay Marketing Management Essay Essay Topic: Shane | You are here: * Home * Business * Small Business Information * Marketing * Marketing management Marketing/Marketing management Advertisement Expert:  Leo Lingham   10/7/2009 Question Sir could you please answer the following two questions for me? I need your help in answering these. PLease reply me as soon as possible. 1. Marketing management an artistic exercise and therefore highly subjective versus marketing management is largely a scientific excercise with well established guidelines and criteria 2. How does cause or corporate societal marketing affect consumers personal behavior? Clarify in context to the products and services you are using or planning to purchase. Answer SARA, HERE IS   SOME USEFUL   MATERIAL. REGARDS LEO LINGHAM ========================================= 1. Marketing management an artistic exercise and therefore highly subjective versus marketing management is largely a scientific excercise with well established guidelines and criteria MARKETING   MANAGEMENT   IS   A   SCIENTIFIC EXERCISE   WITH   ESTABLISHED GUIDELINES/ OBJECTIVES. SCOPE   Ã‚  OF   MARKETING   MANAGEMENT Establish   , direct, administer   and   coordinate the   overall product marketing programs   Ã‚  for   all   Ã‚  Products.. Strategically   plan for, develop   and profitably penetrate   the   markets to which   the   products, services   and   capabilities   of   the   company   can be directed. These   activities   include -studying economic indicators -tracking   changes in   supply   and   demand -identifying customers   and   their   current   and   future needs -monitoring the competition. ========================================================= THIS SCOPE   IS   Ã‚  THE RESULT   OF THE   FOLLOWING: * Analysis * Discussion * judgement Illustration * Decision ON   THESE   Ã‚  ELEMENTS. External Analysis 1. Customer Analysis Segments Motivations Unmet Needs 2. Competitor Analysis Identify Performance Image Objectives Strategies Strengths Weaknesses 3. Market Analysis Size Projected Growth Entry Barriers D istribution System Trends Key Success factors 4. Environmental Analysis Technology Government Regulations Economic Trend I A. Opportunities B. Threats C. Trends D. Others Customer/Market Segment Analysis SEGMENTATION Biggest Customers/Market Segments Profitable ones/Attractive Potential The purpose of differentiation is to set up own brands. This is the process that converses goods or services to a strong brand. Differentiation aims to ensure goods or services have different features and characteristics of a companys products. Differentiation focuses on the innovation of goods or services rather than the low price in competition. Because of the unique element of goods or services, producers can charge more prices but still have a lot of customers and get the customers appreciation. When there is no cost advantage to compete with low cost, differentiation becomes the only choice for enterprise to make a business viable and to develop a competitive market. The information acquired from market research is the necessary foundation necessary to establish a differentiation strategy. Using research results, you can specify a list of specific aspects of your brand different from competitors. Consider two light products, they are two unused products and the power are 100 watts. If you must buy one of them, which brand will you choose: Blue Sparks (U.S. $3) or White Heat ($ U.S2.5)? Customers seem unconscious of the difference between 2 products, which one is better? White Heat, of course, because this product is cheaper than 50 cents. The author will analyze this case below. Everyone expects good services come with your transaction. If you cannot provide good services, you cannot participate in competitive market today. Service quality is extremely difficult for competitors to imitate when they want, because the service is not an inanimate object. It is very hard to train employees so that they can always provide high quality services. It is also a difficult for your opponents if they want to copy your service quality. Doyle (1989) said that to build a successful brand, service is the important key to gain sustainable differential advantage. According to Barwise, P. (2004): There is a solution to make a differentiation: be better. There are some reasons to use service differentiation: First, service quality is very hard to achieve, you will probably success or fail when using this strategy. No doubt about the big achievement if it works, but there are too many factors beyond control. Thus, the use of service differentiation factor should only be done if you have the capacity to achieve a higher quality level of opponent and maintain good quality. Second, customers become more and more difficult; they have awareness that quality is required. As well as product quality, service quality is what customers expect you to automatically provide them. And the last one, using service differentiation is a great risk, because the brand has guaranteed to do something, they must do it seriously. If you guaranteea great service but this is not done, the result is actually very bad. Customers will know it and your business can break apart. Canons slogan is delighting you always which it means customers always feels excited when they take picture by this camera. Therefore, the employees will explain clearly to customers about the camera when they have problems. If the customers understand how to use it clearly, they will not have problems. This will makes customer comfortable with the service and they will come back again. It is the strategy that Canon has used to get more follow-up business. Viettel becomes largest telecom service provider with lots of promotion on prepay packet, post paid package, home phone and Internet, etc. Besides, the customer service is very good, when customers have any problems with product or service, the employee can help you. This 24-hour-a-day service provides a satisfaction to customers. Volvo brand around outstanding benefits: safety. They do everything possible to improve this characteristic. This success make their competitors recognize the importance of investing in safety features of the product. * Definition Kotler and Keller (2009) show that if you have better employees than the competitors, you will have more sustainable competitive advantage. A companys employees should not be overlooked, it will be a important turning-point to crush the competitors. Businesses have to spend time and money to choose good employees and train their skill to become better. A well-trained production staff will makes a better quality product or service. The businesses have to differentiate themselves to gain a competitive advantage through skillful employees who can serve customers with good characteristics: appearance, knowledge, intelligence, self restraint, honesty, courage, patience, empathy, competence, courtesy, credibility, reliability, responsiveness and communication. Herb Kelleher (1999), CEO of Southwest Airlines said that: competitors can do everything to imitate the tangibles. They may make same policies, same prices to compete with you. But they cannot copy is the spirit of your people. Gucci is the symbol of luxury goods, such as Gucci Loves New York handbag collection are sold out in 2 days. A lot of rich people think that these product can reflect their VIP lifestyle. For KFC product, people are familiar with the image of old man, white hair, wearing eyeglass. This image appears everywhere: supermarkets, stores, bars. Customer can easily identify this mage is belonged to KFC. Starbucks is a coffee brand which is evaluated very high by customers. They said that Starbuckss system is very warm and close. Its interior is quite special with a lot of sofas. In this report, the author has analyzed various techniques of differentiation. Differentiation in the current information age is really a great challenge for brand. All the differences can be copied and improved, that makes differentiation becomes obsolete. For this reason, business has to create major technical barriers with creative ways that many competitors cannot keep up or follow because the risk is too great. This can only be as the brand management and sensitivity to predict market trends to offer products and services completely distinct from competitors. That is the reason why you should create a breakthrough to add and improve the benefits of the product with the ultimate objective is to improve the competitiveness of products on the market.