Recent orders

discussiion post wkp2

Discussion 1: Marketing and Market Share

Before describing the concept of market share, it is important to understand the marketing management process and different types of marketing. When engaging in the marketing management process, two kinds of marketing need to be considered: mass marketing and target marketing. Mass marketing assumes that everyone is a potential customer of a product or service. Consider the example of the product of salt, which is assumed to be in demand by all. A salt company such as Morton’s might then market the same way to all users, because most users have the same needs and wants for salt.

A target market is a fairly homogeneous group of customers to whom a company wishes to appeal. For example, the maker of a particular brand of cereal that is oriented toward health or weight loss may need to target a different group than would the maker of a cereal with a lot of sugar. Target marketing is the process of tailoring a set of marketing strategies to meet the needs of a specific group of target customers. While mass marketing might be considered a “shotgun” approach, target marketing might be considered a “rifle” approach.

Marketing strategy defines the marketing mix—the variables that the company employs to attract and meet the needs of a target market. The field of marketing refers to the controllable variables of the marketing mix as the four Ps of marketing: product, place (distribution), promotion, and price. Why are marketing strategies important? Companies use marketing strategies to increase their profitability by growing their market share.

For this week’s Discussion, you examine marketing strategies to explore how a company can expand its market share.

To prepare for the Discussion:

  • Read this week’s course text chapters. Consider the roles marketing plays in firms and the two essential elements of a marketing strategy: a target market and a marketing mix.
  • Read the Comstock, Gulati, and Liguori (2010) article.
  • After reviewing the Readings, select a company that currently operates domestically in the United States or your home country.
  • Consider the marketing strategies the company you selected can employ to grow its market share in the United States.
  • Then, consider whether the company should use the same marketing strategy or a different one to gain market share in an international market.

By Day 3

Post the following:

  • A brief description of the company you selected, including its products or services and the market or markets it serves.
  • Describe two marketing strategies that firms can select for growing their market share domestically.
  • Explain which of the two marketing strategies you selected should be adopted by your chosen company to continue its growth in its current domestic market and explain why this strategy would be effective.
  • Explain whether the company should use this same marketing strategy to grow internationally or into other markets or regions or whether it needs to employ a different one.
  • Give an example of how the marketing strategy (or strategies) you have selected would apply in the domestic and international context. Provide a rationale to support your conclusions.

markiting report

Business Report format required. This means use:

  • A title page,

  • A 1-Pg Executive Summary, followed by the body of your report that covers the Chapter 11 Marketing Framework of the text

    (a) Company description, purpose and goals;

    (b) marketing situation;

    (c) marketing initiative briefly summarized;

    (d) detailed marketing strategy elaborating on initiative;

    (e) brief implementation priorities;

    (f) forecasting;

    (g) measurement and controls. This step-by-step format will be discussed in class.

Choose any Saudi Arabian based company that you wish and identify a new marketing initiative for that company. Any aspect of marketing can be used.

Criteria & Marking:

The principles of marketing can be used to market goods, services and ideas. Your task is to use Marketing Management principles to develop a marketing plan. A detailed marketing plan is critical in creating and coordinating effective marketing activities.Your marketing plan must not exceed 1500 words and more than 1300 words and should be presented in report format.

This means five to six pages (double line spacing and 2.5cm margins), plus a title page at the front end and a list of references at the backend. Given this is an applied task, you will have limited references – selected useful academic references- for example will need to be included. Any referencing style is accepted (preferable Harvard Referencing Style)

Note: these References are not included in the word count.

Submission:

  1. All assignments submitted for grading must be word processed. Students must be able to produce an electronic copy of all work submitted. Creating a backup of all your computer files is highly recommended.

  2. Important: All Submission will be checked va SafeAssign. SaveAssign is an online text-matching service available through the blackboard site. It enables students to submit electronic versions of their assignments via the internet, and generate a text-matching report. This service is designed to aid in educating students about plagiarism and the importance or proper attribution of any borrowed content. It is recommended that all students apply this service prior to submitting a hard copy of their assignments.

Q 2: Presentation: Marketing Plan (5mins In class Presentation)

Type: Oral Presentation

Due Date: WEEK-13 to 15 (as can be decided by the instructor)

Weight: 5 Marks

Task Description: Professional oral presentation.

Criteria & Marking:

This is a 5 minute presentation that supports the essence of your marketing plan initiative. The presentation is done as a “Problem Solving” to the client (the Lecturer and the class members) in order to obtain acceptance of the proposal.

Exceptional Riders, Inc. is a specialty bike is the company I choose to make up.

You may create and / or make all necessary assumptions needed for the completion of this assignment.

Write a five to six (5-6) page paper in which you:

  1. Write an introduction to your company. Describe your company, its location, and the product it makes or the service it provides.
  2. Develop an environmental analysis that includes competitive, economic, political, legal, technological, and sociocultural forces.
  3. Determine the primary and secondary target markets for your company. Next, analyze the primary and secondary target markets that you identified for your company. Be sure to cover the 4Ps, 5Cs and STP.
  4. Decide the main goals that you would like to achieve within the next year (short term) and the mains goals that you would like to achieve within the next five (5) years (long term). Determine the most appropriate ways to measure both short- and long-term goals. Note: Consider the following metrics: tracking downloads of Website content, Website visitors, increases in market share, customer value, new product adoption rates, retention, rate of growth compared to competition and the market, margin, and customer engagement.
  5. Develop both a SWOT analysis and needs analysis for your product. Each analysis should examine four (4) strengths, weaknesses, opportunities, and threats for your company.
  6. Use at least four (4) academic resources as quantitative marketing research to determine the feasibility of your product / service. These resources should be industry specific and relate to your chosen product / service. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Analyze the marketing framework including the concepts of the 5Cs, STP, and 4Ps.
  • Develop strategies to assess performance and achieve marketing goals.
  • Examine the marketing science of customer behavior and products in the marketing exchange process and create dynamic strategies for competing.
  • Evaluate target customer segments and positioning products within these segments.
  • Use technology and information resources to research issues in marketing management.
  • Write clearly and concisely about marketing management using proper writing mechanics