Defining Marketing - 1022 Words

To fully understand the importance of marketing and organizational success one must understand what marketing is. Marketing and marketing decisions are the key to an organizations success. Without the marketing process and marketing strategies an organization is sure to fail. To me marketing is the communication of products to a specific target market, and marketing plans are based on the four P’s of the marketing mix: product, place, promotion, and price (Perreault, Cannon, amp; McCarthy, 2011, p. 35). According to the American Marketing Association, â€Å"marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and†¦show more content†¦This is the organizations way to promote their goods and services. The last â€Å"P,† price, is when the organization must determine the right price for their goods or services. The organization must conside r the competition in the area and the cost of the marketing mix. In the marketing mix the P’s are equally important, and they come together to form a complete circle. â€Å"Part of Starbucks’ success comes from adapting its marketing strategy to changing market conditions† (Perreault, Cannon, amp; McCarthy, 2011, p. 3). The economy today challenges companies in today’s society. For an organization to do well, they have to maintain their marketing strategies and plans to change when the market conditions change. Customer service levels dropped so the customers were not getting the experiences that they expected. It was not until Starbucks’ gained more employees and the level of customer service improved that the business began to rise again. Another example is Cirque du Soleil. â€Å"Cirque du Soleil’s marketing managers constantly evaluate new opportunities† (Perreault, Cannon, amp; McCarthy, 2011, p. 31). Cirque du Soleil focuses on developing new shows and the opportunities of expanding their organization in other target markets. Cirque du Soleil is a very successful organization, but they are continually exploring their opportunities to make their customers’ experiences better. The lastShow MoreRelatedDefining Marketing805 Words   |  4 PagesDefining Marketing Colleen P. Dalton MKT/421 November 26, 2012 Stephanie Burns Defining Marketing The purpose of this paper is to define the term â€Å"marketing†, explain the importance of marketing in organizational success, and provide examples from the business world to support the explanation of its importance. Upon completion of this paper it should be understood what Marketing means and its importance in today’s society. Marketing There are many definitions of the term â€Å"marketing†Read MoreDefining Marketing802 Words   |  4 PagesDefining Marketing Deby Chan MKT 421 – Marketing Norbert Gray Jr. July 3, 2011 Defining Marketing There has been much misconception about what marketing really it only about commercials on the television or billboards that dot the highways, advertisements in the paper or salesman attempting to sell you their products. Many believe that this is marketing but marketing is much more complex than the advertising and the selling of goods and services. In fact, the above mentioned elements onlyRead MoreDefining Marketing981 Words   |  4 PagesDefining Marketing What is marketing? More important, what importance does marketing have on an organization s success? In this paper, marketing will be defined. Included will be my personal definition of marketing, the definition found in Marketing Management, and the definition found in Basic Marketing. Based on these definitions, I will explain the importance of marketing in organizational success. Definition of Marketing There are several definitions of marketing. Although many sourcesRead MoreDefining Marketing983 Words   |  4 PagesMarketing has become a part of society and a huge part of the American culture; one has only to observe the timeless art of Andy Warhol and the iconic Campbell’s Soup Can at the National Gallery of Art in Washington, D.C. A personal definition of marketing is creating a product or service that fulfills a need and taking the idea from a concept to the kitchen table. Business Dictionary defines marketing as â€Å"the management process through which goods and services move from concept to the customer†Read MoreDefining Marketing Paper1010 Words   |  5 PagesRunning head: DEFINING MARKETING PAPER Defining Marketing Paper Bonnie Garcia University of Phoenix Marketing is an important part of the business organization; it is more than just promoting and selling a product. Marketing is gratifying the changing needs of the customer. This can be best summed up by the very successful businessman Bill Gates when he quoted, Your most unhappy customers are your greatest source of learning . The purpose of this paper is toRead MoreEssay on Defining Marketing869 Words   |  4 PagesMarketing is one of those things that surrounds your everyday life and you dont even realize it. A challenge of a good marketing manager is to make a person or customer to not even realize that they are targets of a marketing campaign. To define marketing in my own words; giving products a place to perform or show to enhance a buyer. Marketing is a truly important function of business. It is basically the wheels of motion to get a business to profitability. For example, a merchant has a widgetRead MoreDefining Marketing Paper1008 Words   |  5 PagesMarketing Paper Marketing an important part of the business organization, it is more than promoting and selling a product. Marketing is satisfying the changing needs of the customer. The very successful businessman Bill Gates can best sum this up when he said, Your most unhappy customers are your greatest source of learning . The purpose of this paper is to define marketing from at least two different sources, based on these definitions explain the importance of marketing in organizational successRead MoreDefining Marketing - Importance of Marketing in Organizational Success1005 Words   |  5 PagesDefining Marketing Michelle Watson Marketing 421 April 16, 2012 Kim Wm. Houseman Definition of Marketing Marketing is often misunderstood. Ask the average person how they would define marketing and a majority would reply with something along the lines of commercials, ads, brochures, and other items used to market a business. Marketing is complex. It is a process, a practice, and a philosophy. As a process, it moves goods and services from an idea all the way throughRead MoreDefining Marketing for the 21st Century4119 Words   |  17 PagesChapter 1 – Defining Marketing for the Twenty-First Century True/False Questions 1. Marketing is both an art and a science—there is constant tension between the formulated side and the creative side. True (easy) p. 2 AACSB (Reflective Thinking) 2. Large, well known businesses have newly empowered customers, and have had to rethink their business models. True (moderate) p. 2 AACSB (Reflective Thinking) 3. The authors see marketing management as the art and science of proper retailRead MoreDefining Marketing Paper837 Words   |  4 PagesMarketing Marketing is in a part of everyone’s daily lives. We see it the moment we turn on the television, when we go to the grocery store, and even at our jobs. When I think about marketing, I think about all of my favorite restaurants, places to go, favorite clothing brands, and shoes. All of my favorite things come to mind when we discuss the concept of marketing. When I think about marketing, I think of all of the companies that produce my favorite things. Marketing campaigns are those people

Business Ethics Paper - 997 Words

Business Ethics Paper BUS 415 November 14, 2011 Michael Green Business Ethics Paper The same ethical issues in the business world have been around for a long time. In theory business ethics is a practical regulation that dictates moral activity of commercial interests. The history of business ethics is founded in corporate social responsibility (CSR). Entertainer Shirley Jones filed suit in California against the tabloid company The National Enquirer, whose home office is based in Florida. According to the suit Jones wanted to sue for damages of defamation, invasion of privacy and emotional distress. It will be discussed how a suit filed in one state and the defendant lives in another. It will be discussed the type of paper The†¦show more content†¦It would make sense for The Enquirer to believe that their home state would have personal jurisdiction of the business. The National Enquirer had no way of knowing about the long-arm statute that could be used to allow the courts in California to assert jurisdiction over them in Florida. The Enquirers office in Florida argued against the statute and the arguments were accepted by the lower courts but the arguments were rejected by the California Supreme Court. The Enquirer argued that they were not responsible for the spread of the article in California because they had no stak e economically in the sales of the tabloid in California. But a clause in the Fourteenth Amendment permits personal jurisdiction over a defendant in another state if the defendant as minimum contact in the state (Calder V. Jones, 465 U. S. 783 (1984), 2011). Are the defendants subject to suit in California? The defendant in the case, The National Enquirer, Inc. located in Florida and the plaintiff, actress Shirley Jones, located in California, this issue is the defendant and the plaintiff reside in two different states, so are the defendants subject to suit in California if they reside in Florida? Suits are determined by the courts, if the employees of The Enquirer responsible for the story have minimal contact in the state of the suit by way of the plaintiff Shirley Jones providing proof that The Enquirer or employees of The Enquirer had contact in the state of California while working onShow MoreRelatedBusiness Ethics Paper1837 Words   |  8 PagesUNIVERSITY SCHOOL OF BUSINESS AND ECONOMICS ELDORET WEST CAMPUS (Human Resource option) COURSE CODE: BBM 406 COURSE: BUSINESS ETHICS TASK: Assignment I PRESENTED BY: Jayne Wairimu Njenga ADM NO. BBM/1491/07 PRESENTED TO: ROSE OMONDI Course Tutor DATE: March 2009 Question: Is good Ethics good business? 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Personal religious beliefs should impact all decisions about business ethics. If your beliefs are truly mandated in your life, then you have no choice but to be fair and honest about your business decisions. 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I will provide examples and citations of what I feel are unethical practices and cases involving Monsanto. Introduction â€Å"The Justice Department is investigating whetherRead MoreBusiness Ethics Research Paper2018 Words   |  9 PagesInsider Trading By Jennifer Miller Instructor Margie Andrist Business Ethics The purpose of this paper is to review the phenomenon of illegal insider trading in the United States financial securities markets. The analysis section of this paper (a) defines illegal insider trading, (b) explains the enforcement of laws and regulations concerning illegal insider trading, (c) review the pattern of illegal insider trading from 1996 through 2005, and (d) compares the problem of illegal insiderRead MoreBusiness Ethics Term Paper2462 Words   |  10 PagesBusiness Ethics Term Paper: Wal-Mart Walmart serves customers and members more than 200 million times per week at more than 9,826 retail units under 60 different banners in 28 countries. 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Generic Strategy of Ansoff Matrix and Porter †Free Sample

Question: Describe about Generic Strategy of Ansoff Matrix and Porter? Answer: Introduction The report will discuss in detail about Ansoff Matrix and Porters generic strategy. The report will try to highlight that how Ansoff Matrix is applied on various organisation and what is significance of each matrix for different organisations. Further the report will focus on Porters generic strategies and how these strategies can be beneficial for different type of organisations. Discussion of Ansoff Matrix Penetration: - there is a situation where the company tries to sell the product to the present loyal customers and for that they engage in some strategies like penetration strategy (Jarratt Stiles, 2010). It can be done in various ways like by changing the pricing and also by adding minute factors like new and improved features which will add value to the products or by changing the packaging like sachets of shampoo or by highlighting various other uses of product (Jarratt Stiles, 2010). Here a perfect example can be taken of Cadbury India where the company is pushing the message to buy more chocolates instead of sweets specifically on festivals (Hussain et al, 2013). Product development: - company like McDonalds introduce different variety of cuisine from time to time in order to retain its existing customers and many of the items are pushing the concept of health and fitness for health conscious people (Jarratt Stiles, 2010). For example, McDonald had introduced salads which are not something for which it is known for. However, there was a lot of pressure from the system and also the consumer behaviour changing towards health and fitness, the company had to take the decision in order to develop their product (Jarratt Stiles, 2010). Market development: -market development happens when an existing product is being introduces in the different market (Hussain et al, 2013). This strategy is one of most used strategies in order to extract the all the advantages of that successful products. A perfect example which can be taken here is entering into different geographical area available on national and international level (Hussain et al, 2013). Like Apple has introduced many iPods of different type which is present into the same category. IPod Touch was tried to be made of iPhone and the only difference is that it couldnt make any calls. Diversification: - Diversification is something when a totally new product is introduced by the company in a completely new market and this is termed as diversification (Hussain et al, 2013). Here, iPhone is one of best example which has proved to be most successful diversification present in the market and as per the launch the company tried to target a very large customer group and it is very different from its traditional small market following (Hussain et al, 2013). Infect the CEO of the company Steve Job made sure through his hard work and dedication in creating a contract with the help of many music labels and various artists (Hussain et al, 2013). Generic strategy of Porter According to Porter, the complete framework of strategy has two important components; one is internal and second is external analysis (Porter, 2012). While external analysis builds on economic perspective of the industry structure and how a firm make the most of the competencies of the company. When Porter says that organisation should not get stuck in the middle when it comes to strategy. By this statement he means that a company should compete in all possible ways and the best way to compete is set a strategy and get along with it. The set strategy should be simple and should not be very complex (Porter, 2012). It mainly focuses on hoe an organisation should compete. Porters focus on whole structure of the industry is basically a powerful method which covers analysing the competitive advantage and also building competencies which help the organisation in taking effective decisions and the power of effective decision making only increases in this situation. Though there are many com panies which emphasize on just one type of analysis and also very essential however it is not sufficient to set the company on the right path (Porter, 2012). The actual strategies of the company have to focus on the company most challenging factor and the issues it is facing in various aspects of the organisation. Some of these strategic decisions are more based on the events that are happening in the present and on the other hand there are some which are subject of periodic strategic reviews (Porter, 2012). Now, as far as generic strategies are concerned there are three approached which come under these strategies since they can be applied on products or services and it also can be available for all size of companies (Porter, 2012). Porter named these strategies as cost leader ship which can also be known as no frill strategy, differentiation where the company will have to create an unique or desirable products and services and focus where companies offers a specialised service in a specific niche market (Porter, 2012). Focus strategy can subdivide into further two parts as cost focus and differentiation focus. The main motive of Porters generic strategies is to gain competitive advantage which means the company will focus on developing an edge that helps the company in getting the maximum sales of their product or service and also help in take it away from the competitors. This can be done through two strategies (Porter Lee, 2013). First one is increasing the profits by reducing the costs and also charging prices which are on the basis of average in the industry. Second method is increasing the market share through charging lower prices and increasing the sales. Another strategy defined by Porter is the differentiation strategy which means that the company make its own product or services different from the competitors and also make it more attractive for the customers (Porter Lee, 2013). How company do it completely depend on the nature of the market in which the company is working and it will also involve features, functionality, durability and support. Apart from this, the company also depend on brand image of the customer value (Porter Lee, 2013). Organisation also needs to focus on a strong research which involves development and innovation, the capacity to deliver high quality product or services and effective sales and marketing so that the industry understand the advantages offered by the differentiated company (Porter Lee, 2013). Then there is focus strategy which focus on companies that use this strategy mainly concentrate on specific niche market and also tries to understand the dynamics of the market and the specific needs of the customers within it (Porter Lee, 2013). The company also focus on developing a uniquely low cost and well specified product or services. The main motive of these companies to build a strong brand loyal customers and the company is able to do so since these companies serve customers in a unique manner. This is why this specific market segment is less attractive for the competitors (Rangan et al, 2012). As a part of broad market strategies, it is very important to decide before hand whether the company will focus on cost leadership or on differentiation strategy. So in this strategy the company will either depend on cost focused strategy or on differentiation strategy (Rangan et al, 2012). On the broader basis, the main key is to ensure that the company is adding something extra which as a result serves only that specific market niche. The fact that something extra which can be done through number of ways like reducing costs or by increasing differentiation, it is important to focus on the kind of customers company is serving and the kind of expectation of the customers (Rangan et al, 2012). Porter always maintained in his work of generic strategy that the one thing in which companies need to focus is not to get stuck in the middle when it comes to strategy which means it is very important to choose the right and a perfect generic strategy since the decision to choose a specific type of strategy will help in underpinning every other strategic decision for the company and make it more worthwhile in order to spend right time on right things (Rangan et al, 2012). However, this is a very crucial decision for the company and they need to focus on choosing an appropriate strategy and also avoiding hit and trial method which may result in losing a lot of money and time. Since the generic strategy covers different type of people and all the strategies proposed by the customer covers different market area, it is not advisable to focus on all three types of strategies at the same time (Rangan et al, 2012). Therefore when the company is in the process of choosing three generic stra tegies, it is significant to take into account the competencies of the organisation and its strength into account (Rangan et al, 2012). There are number of steps which can be followed here in this case. The first one is that for each generic strategy the company will have to focus on SWOT analysis where the company can understand its strengths and weaknesses, the opportunities and threats that the company can face if in case they adopted a specific strategy (Rangan et al, 2012). This will help in giving a clear idea to the company and they can easily make the right decision. Second step is to conduct five forces analysis in order to understand the nature and the pattern of the industry in which the company is working (Porter Kramer, 2011). Another step is to make a comparison between the SWOT analyses of the viable strategic options with the result of the five forces analysis of the company and for each option, the company can ask themselves how the specific strategy can be used (P orter Kramer, 2011). There are number of strategies which can be used here like by reducing or managing the power of suppliers or reducing or manage the power of the customers or buyers (Porter Kramer, 2011). Further the company can also come out on the top of rivalry among the competitors and also reduce or eliminate the threat of any kind of substitution and the company can also work on reducing or eliminating the threat of new entry. The company can select the generic strategy that gives the company a strongest way to capture the market in the best possible way (Porter Kramer, 2011). Conclusion The report has discussed in detail about Ansoff Matrix and Porters generic strategy in detail and highlighted the advantages of all the points covered in both the concepts. The report has tried to understand that the basic difference between the companies and how these different companies will have to adopt different strategies in order to sustain in the market for the longest period of time. Reference Jarratt, D., Stiles, D. 2010. How are methodologies and tools framing managers' strategizing practice in competitive strategy development?.British Journal of Management,21(1), 28-43. Hussain, S., Khattak, J., Rizwan, A., Latif, M. A. 2013. ANSOFF Matrix, Environment, and Growth-An Interactive Triangle.Management and Administrative Sciences Review,2(2), 196-206. Porter, D. R. 2012.Managing growth in America's communities. Island Press. Porter, M. E., Lee, T. H. 2013. The Strategy That Wilt Fix Health Care.Harvard Business Review,91(10), 50-+. Rangan, S., Adner, R., Strategy, E. S. 2012. Profits and the Internet: Seven misconceptions.MIT Sloan Management Review. v42 i4,44. Porter, M. E., Kramer, M. R. 2011. Creating shared value.Harvard business review,89(1/2), 62-77.

Tan And Wang Essay Research Paper The free essay sample

Tan And Wang Essay, Research Paper The Joy Luck Club The movie and book, The Joy Luck Club, directed by Wayne Wang and written by Amy Tan, severally, although still dejecting at times was a nice going from the blunt decease and devastation featured in the plant we discussed the first half of the semester. The narratives of the eight adult females hit really close to place for me because I besides have a love and hatred relationship with my female parent who lived a much different life turning up than I did. The movie and book are a beautiful jubilation of female parent and girl relationships, the Chinese civilization, and the clang between old traditions and coevalss and new 1s. Many may differ, but I think that the movie did a much better occupation of developing and showing the characters and sharing their ideas than the book did. I have read the book and watched the film several times and the movie gets better each clip while the book becomes more deadening and harder to read all the manner through. We will write a custom essay sample on Tan And Wang Essay Research Paper The or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It s 2nd nature for me to pull a image in my caput of the universe that is presented in books, but it was a really hard undertaking for me to execute while reading The Joy Luck Club. I attribute this shortage to my deficiency of cognition about China and its people s civilization. The movie showed me the people and the land. It was a batch easier to construe the occurrences and their significances in the movie. The first clip I read the book it was highly hard to maintain up with what was traveling on and who was stating the narrative. It invariably jumped back and Forth between the past and present and between the female parents and girls. It was really frustrating to seek to maintain up and it did non go any easier to understand with perennial readings. By seting distinguishable faces on the characters the movie made tracking the timeline simple. I was able to pass less clip seeking to acquire the facts straight and more clip listening to the of import lessons being told and look up toing the beauty of the filming itself. I besides appreciate the alterations that were made in the version of The Joy Luck Club from the paper to the movie. The nicest alteration was Rose acquiring back together with her hubby, Ted, at the terminal of the movie. Their narrative in the book was left up in the air. There was no verification that they got divorced or that they reconciled their differences and stayed in the matrimony. Changing this result was a good move to do because it tied the stoping into a orderly small bundle. Hollywood I s really good at stoping movies on a happy note and that is what many people are used to seeing. I think that the movie would experience unconcluded if the manager left this narrative hanging because the terminations of the narratives of the other girls did non hold a really distinguishable and fulfilling decision in either the movie or the book. It was sort of Wang to give the audience a small sense of closing. In the instance of Ying Ying St. Clair, I besides think that it was wise for the author s to hold the character drown her babe alternatively of abort it. It developed into a much more dramatic consequence that more people could associate to. I do non believe that Ying Ying would hold been a really sympathetic character in the film if she had an abortion because so many people have a really strong sentiment about the controversial topic. I am non stating that slaying kids is all right ; instead the manner she took her kid s life in the film was credible and apprehensible due to the fortunes. It may even hold been inadvertent and errors are easy excusable. By submerging the babe that she so urgently loved and doted on, the manager efficaciously demonstrated the sheer hurting that Ying Ying was in by holding to be married to an opprobrious, rip offing hubby. Another subject that set The Joy Luck Club subdivision apart from the other plants discussed in this series is the function of work forces. I like that manner one pupil in a category treatment described their function as catalytic. The narratives were entirely about the adult females and the events in their lives are what moved the secret plan. Work force did hold a batch to make with the way that the adult females took, but their emotions and the points of position about the adult females s state of affairss were non relevant. For illustration, Ying Ying St. Clair drowned her boy because her opprobrious hubby drove her to desire retaliation on him, Lena St. Clair had an unloving, obstinate hubby who could non see her, Lindo Jong hated her hubby from their arranged matrimony because he basically took her off from her household, and Rose Hsu lost touch with her psyche because she spent so much clip seeking to delight her hubby and maintain him happy. I prefer the movie to the book, but I found the entireness of the narratives in general fantastic. I have read really few plants written by adult females, for adult females, and about adult females. It was really exciting to read a fresh and watch a film that showed such great penetration into a adult female s bosom and head and that proved that adult females can be beautiful, intelligent, independent, and strong in such a male-dominated universe.