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Marketing assignment

Just make up the facts and put it in bulletpoints

STEP 1: Individual Questions. For this assignment, as an individual please provide the following as a word document.Describe three (3) roles you have assumed or are presently assuming as a consumer. (e.g., spouse, parent, child, friend, etc.)1. Identify which of those roles has had the biggest impact on changing the choices you made as the consumer.2. Describe how some of the choices you made were a result of having assumed that role.3. Describe how making those particular choices had you feel about yourself.4. Describe how those choices were different from what you would have made had you not been in that role.These responses can be in bullet point form and should not exceed one (1) single spaced page. Be sure to identify yourself on the page. Upload your individual response page to the Canvas Group File Exchange.

post response wkp2

Respond to two or more of your colleagues in one or more of the following ways:

  • Share a key influence related to choosing a brand that a colleague posted that you may have overlooked in your initial posting. Be specific about why that influence would (or would not) be appropriate for you in choosing a product or service, and give examples from your experience that support your observation.
  • Using one of your colleague’s activities, explain how that particular activity would lead to certain choices or products, services, or brands and why.
  • Expand on a colleague’s post by offering additional factors that could influence product/service use or selection or brand preference.

General Guidance: Your Shared Practice Discussion post, due by Day 5, will typically be 2–3 paragraphs, and your responses, due by Day 7, will each typically be 1–2 paragraphs in length as a general expectation/estimate. Refer to the rubric for the Week 1 Shared Practice Discussion for grading elements and criteria. Your Instructor will use the rubric to assess your work.

POST1

I love to shop!  Whether it is for groceries, clothes, or cleaning supplies, I am always armed with a coupon.  For my 45th birthday, I traveled to Pigeon Forge, Tennessee and spent the weekend at a beautiful log cabin in the mountains.  I always travel with my cellular phone and my favorite laundry detergent.  Verizon wireless can be expensive, but is guaranteed to work wherever you go.  Since I do not like to bring soiled clothes back home from vacation, I depend on Tide.  I need a laundry detergent that not only smells good but cleans your clothes.  There are many competitors, but nothing cleans like Tide.  According to Perreault, Cannon, and McCarthy (2014), this practice is called “brand preference” where customers choose brands because of habit or favorable past experiences (p. 238).  Shoppers have surprisingly strong feelings about laundry detergent.  In a 2009 survey, Tide ranked in the top three brand names that consumers at all income levels were least likely to give up regardless of the recession.  That loyalty has enabled its manufacturer, Procter & Gamble, to position the product in a way that defies economic trends. At upwards of $20 per 150-ounce bottle, Tide costs about 50 percent more than the average liquid detergent yet outsells Gain, the closest competitor by market share by more than two to one (Paytner, 2014).

Given the circumstances, between these two products, the brand that was most influential was Verizon wireless.  Several years ago, I traveled to Nags Head, North Carolina with my three best friends, who all had different cellular providers.  Meanwhile, T-Mobile, Sprint, Boost Mobile, and AT&T would not allow anyone to make or receive calls on the isolated islands.  Investing, on average, more than $6 billion a year in coverage and expanding the capacity of our nationwide network has kept Verizon Wireless’ reputation for quality wireless network service high on consumers’ radar screens.  Emphasis on customer service through offerings such as Wireless Workshops gives customers hands-on training from device experts. And, Verizon Wireless regularly gets high ranks for both network quality and customer service of independent, third-party surveys, including Root Metrics and J. D. Power and Associates (Pica, 2012).  Upon returning home, I immediately switched from Boost Mobile to Verizon so I would never have to ask the question “can you hear me now”?

POST2

Weekend Activities

This past weekend was my birthday, so I engaged in certain activities that I normally would not have on a typical weekend. One service that I used was a manicure and pedicure offered by a nail salon called Essie. I chose this service simply because I wanted to treat myself. As a teacher, I typically forgo the nail salon and just do my own manicures at home because it is cheaper that way and because I tend to mess my nails up quickly doing science experiments anyway.

I decided to go to this particular nail salon because of a few reasons. The first reason is because it is located in an upscale shopping plaza not too far from my home. There were plenty of other nail salons that I passed heading to Essie, but for some reason, the location of my chosen nail salon was attractive to me. A second reason is because their name is Essie. Essie is the name of a popular nail polish brand that is expensive, but of great quality. Although this nail salon is not affiliated with that brand, they do carry a lot of those nail polishes. The final reason was because of how regal the nail salon looked. The décor was magnificent with chandeliers, greenery, and beautiful statues. I figured if I was going to treat myself, I might as well do so in a grand establishment.

A second service that I engaged in was a massage. I chose this service because I am familiar with all of the benefits of massage therapy and because I someday want to own a salon. I get inspiration from engaging in salon services and it also allows me to conduct my own form of research in a way. The particular spa I chose to book my massage at was offering a special where the price was temporarily half off. I checked the reviews for the establishment and they were rated highly, their hours of operation worked well with my schedule, and they were not located far from my home. So, price, the desire to treat myself, and the other aforementioned factors greatly influenced my selection.

Brand Influence

The brand of the service providers I utilized over the weekend did not play a significant influence on my selection. Neither the nail salon nor the spa was a franchise or well-known establishment in the area, so my selection was solely based on the service that I wanted. However, the nail salon’s name, Essie, subtly reminded me of the nail polish brand I mentioned earlier, so that did have an indirect effect on my choice. For me, brand usually plays a significant role when I am purchasing products, especially costly ones. With regards to services, I tend to give small and startup businesses a chance, but I still compare prices, check reviews, and consider convenience. Some companies have not been able to establish a secure level of brand awareness, but that does not mean they are not worthy of patronizing. As long as the product/service, place, promotion, and price variables are aligned with my needs as a consumer, I will support a business (Perreault, Cannon, & McCarthy, 2014).

POst Response wk1p1

Respond to two or more of your colleagues in one or both of the following ways:

  • Suggest a change in the strategy chosen by the colleague to increase your colleague’s company’s domestic market share. Explain why you think your suggestion would improve the anticipated outcomes or effectiveness of the strategy.
  • Suggest a change in the strategy chosen by the colleague to increase your colleague’s company’s international market share. Explain why you think your suggestion would improve the anticipated outcomes or effectiveness of the strategy.

General Guidance: Your original post, due by Day 3, will typically be 3–4 paragraphs in length as a general expectation/estimate. Your responses, due by Day 5, will typically be 1–2 paragraphs. Refer to the rubric for the Week 1 Discussion for grading elements and criteria. Your Instructor will use the rubric to assess your work.

POST1

The company that I have selected to describe is my own, Zola’s Glory. Zola’s Glory is an organic cosmetic company that is owned and operated by my business partner and me. We are currently an online retail company with a shampoo, two conditioners, body butter, and a lip scrub. We plan to expand over time to offer additional hair products for women, men, and children including shaving, skin, nails, and makeup products. We also have a plan to open a flagship store under this name. Our products will be sold there and spa services will be provided as well. The building will also be used as an event space to promote the arts, social justice, health, and education initiatives.

Currently Zola’s Glory operates in an online market, which fortunately does not bind us to any specific region, nation, or state. The people who have an interest in our products are working class adults who wash their hair and their children’s, industry professionals such as hair stylists and spa owners, and women who have a heightened interest in personal care. Our products specifically target those who generally have a higher income and possess an appreciation for the natural ingredients used in our products. So, our marketing mix is tailored to fit these specific customers (Perreault, Cannon, & McCarthy, 2014).

Marketing Strategies for Growing Domestic Market Share

One online marketing strategy that my company could use to grow its market share domestically is social media marketing. Social media marketing helps in building an audience because the content that is posted is what initially attracts the audience to your brand. It helps a brand to gain greater visibility and credibility as well (Demers, 2016). Social media sites, such as Instagram and Facebook, allow companies to connect with consumers based on location and interest so that it is easier for a company to hone in on its target audience. The content also comes off less aggressively than pop up ads, so site users can engage without feeling bothered or pressured.

Another online marketing strategy that can assist with domestic market share growth is search engine optimization. SEO makes a company’s site more visible in search engines, such as Google, so that more traffic is brought to the website from people searching for the products or services a firm offers (Demers, 2016). In addition to making the website more visible, other platforms of the company will be brought up, including social media sites, articles written about the organization, and product/service reviews. Since my company operates online, we don’t have the kind of foot traffic that stores in a shopping mall have for instance. Therefore, it is important to bring new customers in my market who may have never heard of my brand to my site, and SEO does exactly that.

Adopted Strategy

Both abovementioned marketing strategies should be adopted by Zola’s Glory to continue its growth in its current domestic market, but social media marketing would be the most effective. Social media has allowed many entrepreneurs a free or cost-effective platform to post content to increase their market share. Instagram, for example, offers a space for users to post real-time comments about their experiences with a company, tag the company in their posts for others to see, create searchable hashtags, it allows users to email and send direct messages to the manager of the account, and click on the website directly from the Instagram page. Instagram also recommends a business’s page to other users based on their location, interests, and mutual followers who like the brand. This kind of marketing, if managed properly and if the products and services are of good quality, allows the product or service to sell itself to the customers who have a need and desire for it which is exactly what marketing seeks to do (Perreault, Cannon, & McCarthy, 2014).

International Growth Using the Social Media Marketing Strategy

Zola’s Glory should use this same marketing strategy to grow internationally or into other markets or regions. The internet is a broad market as I mentioned earlier. People all over the world have hair, skin, and nails, and are in need of cosmetic products on a regular basis. Using social media marketing is an exceptional way to achieve opportunities in market development because people across the globe also utilize social media. The internet has enabled social media to act as a platform that connects people across the globe to a single page, so it is a perfect and economically sound strategy for international growth. People in Germany or Japan may not be able to physically visit my future brick and mortar location, but they can order my company’s products from my social media account and have it shipped there.

Online Marketing Strategies’ Application in the Domestic and International Context

The online marketing strategies of social media marketing and search engine optimization would apply in the domestic context as a market penetration opportunity (Perreault, Cannon, & McCarthy, 2014). I am familiar with the online shopping behavior of U.S. customers and our distribution practices, so marketing online domestically would be the most effective way to launch my product. The online marketing strategies I mentioned earlier would apply in an international context as a method of market development or expansion (Perreault, Cannon, & McCarthy, 2014). Although people in various countries have unregulated access to the internet and have successful distribution channels as well, global marketing proposes challenges due to differences in taste, language, cultures, payment methods, and media preferences. After thoroughly researching global markets, Zola’s Glory will then be ready to expand using online marketing strategies tailored to effectively reach international consumers.

POST2

Publix, Food Lion, Martins, and Aldi are grocery stores in my area.  Authors Perreault, Cannon, and McCarthy (2014) believe with all this choice; these companies must work hard to meet customer needs and earn their business (p. 3).  Wal-Mart is the company I selected.  The first thing anyone notices when going into a Wal-Mart is the incredibly low prices.  This retail mogul offers products of all types, from beauty products, home cleaning supplies, toys, electronics, to even groceries.  Anyone could find something they have a use for, which gives them a much broader appeal to all personality types (Bagons, 2013).  With its continued leadership as the biggest retailer in the world, Wal-Mart expects to use the same marketing mix as it expands globally (Ferguson, 2017).

Two marketing strategies that firms can select for growing their market shares domestically include accessibility and pricing:

Accessibility

Wal-Mart has opened stores all around the world.  Being this accessible makes marketing much easier.  Focusing on social media resources has produced consistently positive results.  “Going viral” is another great marketing tool that allows consumers to share and post feedback online within various networking communities (Bagons, 2013).

Pricing

Founded in 1962, Sam Walton coined the phrase “low prices every day.”  Wal-Mart utilizes an Everyday Low Price (EDLP) pricing strategy.  The objective is to attract large populations of customers.  Even though this company provides low costs and low prices, it is their large sales volume that enables this retail giant to generate continuous revenue (Bagons, 2013).

In this situation, both marketing strategies will continuously enable this organization to establish customer loyalty coupled with the ability to maintain competitive advantages.  Wal-Mart continues to grow in current domestic markets by providing convenient service.  Also, this company continues to open new stores to reach even more customers.  For the most part, this strategy would be effective because nowhere else can individuals enjoy low prices, anywhere, twenty-four hours a day (Bagons, 2013).

Wal-Marts marketing mix has proven effective in supporting the company’s success.  However, there are still many locations where Wal-Mart stores are absent or difficult to reach.  This is particularly the case especially in the markets of developing countries.  Above all, to grow internationally or into other markets or regions, Wal-Mart should improve on the distribution component.  Specifically, the firms can enter new markets and penetrate current markets through foreign direct investments and joint ventures (Ferguson, 2017).

Finally, this week’s resources introduced students to the key parts of a marketing engine, principles, people, and processes.  According to Comstock, Gulati, and Liguori (2010) the frameworks do an excellent job of outlining marketing principles but not of translating them into action (p. 5).  My recommended marketing strategies would apply in both domestic and international context.  Domestically concentrating and appealing to target audiences allow active product promotion as well as an increase in their customer base.  Internationally expanding requires researching trends, language barriers, and culture needs.  If companies only focus on one product, they will ultimately fail (Bagons, 2013).  Therefore, Wal-Mart delivers results and positions their businesses to win.