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- There are literally 100’s of different definitions of marketing available on the internet, and even marketing textbooks will use their own definition of what marketing is all about. And in the business world, especially across industries, you will find that different firms and different managers have a somewhat unique view of the role of marketing. As you probably know already however, the key goals of marketing are to: generate long-term profits, deliver customer satisfaction, and improve the competitive strengths of the organization over time. But let’s now have a very simple look at the role of marketing based on these three goals. The above marketing goals are really all about getting and keeping customers. This means that can we break marketing down to three simplistic responsibilities: Attract new customers (Get) Grow share of customer (Build) Retain profitable customers (Hold) In other words – GET – BUILD – HOLD customers. Clearly, there is a whole array of marketing…What is it about supply management that is gaining traction with senior executives?What marketing strategies a monopolist, like DeBeers, could use to influence total market supply? 4. As above, how these marketing strategies could change supply?
- Think of a popular local or international enterprise to analyze in this activity. 1) Identify the business you are analyzing 2) How did the marketing mix of the business help in achieving a name in the industry? 3) Identify the weak points of their marketing mix that might need to be improved. If there are only a few weak points researched, what then can be possible opportunities for their marketing mix to be better? 4) Suppose you were working in this business and you were tasked to decide on a new product to launch, what product would it be and how would you market and promote it?What is more important, sales or marketing?Marketing management is about ensuring that marketing decisions are well planned and executed in order to satisfy the needs and wants of the customers. It is expected that all firms adopt the marketing concept/ orientation at all levels of the management Giving examples, discuss how a firms can adopt the marketing concept in their decisions making processes In what ways can manufacturing firms benefit from knowledge of marketing?
- Marketing Plan In this group assignment, you will be required to develop a comprehensive marketing plan for the launch of a new banking product or service within your community or country. The goal is to showcase your understanding of marketing concepts, strategic thinking, and teamwork while addressing the specific challenges and opportunities of introducing a financial offering in a real- world context. Task: Your team will create a detailed marketing plan for the new bank product or service. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis. Assignment Guidelines: 1. Product/Service Selection : Choose a specific banking product or service to focus on. Explain why you believe this product or service is needed in your community/country and how it aligns with current market trends and demands. 2. Market Analysis: Conduct a thorough analysis of your target market. Define the target…What has my company done in the past with its: Target markets?Products? Pricing? Promotion? Supply chain?Why do marketing professionals care about and participate in supply chain decisions? Do you think small business owners are at a disadvantage if they lack the marketing research resources that large companies have? Why, or why not?
- What is STP and what are its advantages?Marketing Plan In this group assignment, you will be required to develop a comprehensive marketing plan for the launch of a new banking product or service within your community or country. The goal is to showcase your understanding of marketing concepts, strategic thinking, and teamwork while addressing the specific challenges and opportunities of introducing a financial offering in a realworld context.Task: Your team will create a detailed marketing plan for the new bank product or service. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on. Explain why you believe this product or service is needed in your community/country and how it aligns with current market trends and demands.2. Market Analysis : Conduct a thorough analysis of your target market. Define the target…Marketing Plan In this group assignment, you will be required to develop a comprehensive marketing plan for the launch of a new banking product or service within your community or country. The goal is to showcase your understanding of marketing concepts, strategic thinking, and teamwork while addressing the specific challenges and opportunities of introducing a financial offering in a realworld context.Task: Your team will create a detailed marketing plan for the new bank product or service. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on. Explain why you believe this product or service is needed in your community/country and how it aligns with current market trends and demands.2. Market Analysis : Conduct a thorough analysis of your target market. Define the target…