Research Topics: Marketing Concepts

Music2go Simulation

Music2go Simulation   What is Music2Go?             Students fight, individually or in teams, to make their company successful in a difficult simulation of consumer electronics marketing based on the US portable CD player market.             With the help of industry information and a considerable suite of detailed reports they make decisions involving all four areas in the marketing mix: Product design, Pricing, Promotion and Place (Distribution).             Students get “hands on” experience at making significant decisions and seeing the results in a live, interactive case study.             In the Single-Player simulation, students compete alone against a computer opponent. It involves two consumer market segments, standard and youth.             In the Multi-Player simulation, on the other hand, students compete in teams, managing identical companies against each other live, via the internet. It involves three consumer market segments: standard, youth and sports.   Assessment             The 13th edition of Marketing was designed to help students prepare to operate in and contribute to the 21st century. Regardless of whether a person wants to work in a business, for the government, or in a nonprofit organization, the concepts, strategies, and techniques of effective marketing are relevant.             We could see technology in our everyday transactions from computers to mobile phones. Not only at home but everywhere we go. In view of this, technology has played a major role in the development of this program. Technology has taken Marketing subjects to the next level. But how?             Developments in our society will prompt changes for sure. In anticipation of these innovations, marketing efforts will be seen in creating a considerable quality of products.             Music2Go will be a great tool in this area. Early on, students will have a best view of near-real life instances of how to supervise or manage firms or companies with the aid of technology.             It sets cases where materials, products or subjects are reviewed against market-related activities, thus further teaching students. It also sets questions as guide.             There are also cases where a healthy competition is presented. With the fast pace business environment today, it demonstrates the dynamic nature of marketing.             Students will then be informed of the significance of the evolving context in which marketing is performed.             For a more active role, decision boxes are placed throughout the simulation. This way, students learn how to deal with a particular challenge or opportunity.             In addition to the Marketing text, which serves as the main learning instrument, several supplements facilitate the teaching and learning process.       Credit:ivythesis.typepad.com

Music2go Simulation

Music2go Simulation What is Music2Go? Students fight, individually or in teams, to make their company successful in a diff...

Proposed Title: Effective Marketing Base: The Case of Virgin Mobile Company

Effective Marketing Base: The Case of Virgin Mobile Company   The diversity of the service sector makes it difficult to come up with managerially useful generalizations concerning marketing practice in mobile company service organizations. The research have arguments that focus on specific categories of marketing based effectiveness through services and proposes certain schemes for classifying marketing strategies in ways that transcend marketing environment analysis from within Virgin Mobile effective led boundaries. Marketing oriented insights are to be offered into how the nature of services might affect the marketing task at Virgin Mobile. In addition, Virgin Mobile marketing implies an area of mobile commerce expected to experience tremendous growth in next business marketing years at Virgin Mobile. The research explores marketing base perceptions and attitudes towards Virgin mobile marketing such as pertaining to SMS from within sequential as well as mixed methods investigation.   There has to research factors to be identified and proven as there having significant marketing potentials on mobile marketing acceptance as Virgin Mobile will be having  permission, content, wireless control and delivering in market strategies as an communication domain, developing and testing Virgin Mobile system of such marketing upon consumer acceptance. Thus, marketers should be optimistic about choosing to deploy mobile marketing, however exercise caution around the factors that will determine consumer acceptance. Mobile marketing offers great opportunities for Virgin Mobile business. Marketing activities supported by mobile devices allow Virgin Mobile to directly communicate with their consumers without time or location barriers. Possibilities for Virgin Mobile marketers are numerous, but many aspects of mobile marketing still need further investigation for instance, topic of mobile advertising ascertaining effective market base and interest. Virgin Mobile will have to address consumers with individualized advertising messages via mobile devices.   The underlying research will have relevance of Virgin Mobile effective marketing and investigates how perceived marketing tools and analysis do value mobile marketing in increase motion. The analysis is based on study among marketing effectiveness at Virgin Mobile through consumer research. Among different wireless services, the mobile marketing segment at Virgin Mobile is not well explored yet, especially in its relationship with the other traditional marketing channels and players. Virgin Mobile’s innovative business models that go over the traditional marketing supply chain need to be explored as well as recognized.  This is together with wide technology analysis for monitoring the emerging handsets and mobile technologies in general, the identifying of extended structure of market sense approach through SWOT, Porter’s and other analyzing oriented tools in which critical success factors are known in order to lead effective market base at Virgin Mobile.       The development in mobile marketing at Virgin Mobile is enabling extraordinary opportunity to marketers to explore new channel of promotional marketing. The research will aim to discuss some emerging issues related to Virgin mobile marketing, and to provide simple research framework for understanding the potential and effectiveness of usage of mobile phones as promotional media for market effective success. While examining some of developments in Virgin Mobile marketing, the need to put in detail core dimensions of theoretical framework. In order to explore strategic utility in marketing, Virgin Mobile related case studies by assume one method for the mobile company to achieve marketing analysis using comprehensive research paradigm and cycle Many predict that mobile business will revolutionise modern corporations as e-commerce did in the last decade.   However, many unresolved technical, application as well as global issues relevant to m-business are preventing companies from adopting m-business as a prudent business model. Furthermore, little academic research in marketing known area and have attempted to provide practitioners with guidance to more effective utilisation of wireless technologies. The research does present better marketing frameworks for Virgin Mobile business applications from within there can be design in giving marketing managers of the company, certain systematic approach to discovering Virgin Mobile business opportunities along with effective marketing concepts. Credit:ivythesis.typepad.com

Proposed Title: Effective Marketing Base: The Case of Virgin Mobile Company

Effective Marketing Base: The Case of Virgin Mobile Company The diversity of the service sector makes it difficult to come up with ma...

Services Marketing

Q1: Satisfying service encounters include journal entry numbers 2 – Chanel, cosmetics; 4 – The Venetian Macao, hotel; 5 – Spoon, hotel restaurant and 7 – Dr. Natalie Li, doctor consultation. In contrast, dissatisfying service encounters are as follows: journal entry number 1 – Wai Kei, material of house decoration; 3 – Lei Garden Restaurant (APM Shop), restaurant; 6 – Cable TV, pay TV and 8 – Electrical Appliance Store (through a Credit Card Centre), shopping.   Brief analysis of the service encounters A) Satisfied             Satisfying service encounters are characterized by well-trained staff (saleslady and hotel staff including waiters and receptionists), knowledge of products/services rendered and willingness to offer assistance and provide alternative solutions.             In relation, the 7 p’s of the service marketing mix can be used to identify the sources and actions accountable for service satisfaction: product – the saleslady in Landmark introduces the products patiently and suggested for a cheaper yet of equal quality then provide packaging, price - the price for two bedroom is competent as the rooms are big and beautiful, place – the Venetian Macao has a deck as a waiting area while the receptionist check room availability and in Spoon, the dining area is very cozy, promotion, people – the saleslady at Landmark approaches the clients and offers assistance and enthusiastically introduce products, process – the doctor asked additional information for better diagnosis before she resorts to treatments, and physical evidence – the rooms at Venetian Macao are big and beautiful and the luggages are already inside the rooms.   B) Dissatisfied             Dissatisfying service encounters are evidenced by inflexibility on time, term transfers and transaction-wise, improper explanations of promotions and manner of servicing, not keeping words or promises, inadequate knowledge of the daily operation and slow and poor quality service.             To identify service dissatisfaction: product – the cable TV subscription are not transferable, price – the saleslady at Wai Kei did not clearly explain that deposits are not applicable for products with discounted prices, place – credit card centres that are not equipped on placing orders, promotion – policies which are not allowing two accounts under one roof are evidenced of inadequate promotions, people – the saleslady at Wai Kei seems aloof, process – the manner of delivery of the purchased product was not properly set out by the saleslady at Wai Kei, the delivery of food in Lei Garden Restaurant takes 30 minutes to be delivered and the waiters did not explain that certain portion of dishes are not included , and physical evidence – bowls of rice that are served at 7:00 pm and the non-refunding of the saleslady in Wai Kei.   There is a cost for service failures – lost of client’s confidence, not properly motivated workforce, decline in customer loyalty and an eventual decline in production and profit. However, through service recoveries, businesses and organization’s can redeem their reputation through positive approach in complaint handling, appropriate integration of the marketing strategies and as simple as applying the Golden Rule ( 2007). Other practical service recovery mechanisms include charging defective products, customer complaint solicitation systems and act and compensate (2007). I observed, however, that among the four dissatisfying encounters, no one among the firms are even bothered to apologize, recognize their mistakes before arriving at a win-win situation (2000).   Q2:      McDonald’s belongs to quick-serve food service industry with global operations including Hong Kong. In fact, there are 64 McDonald’s branches in the region. Basically, the daily operation follows on over-the-counter transactions wherein customers tell the cashier their meal orders. If possible, the cashier him/herself is going to prepare the said order to be waited upon and/or be delivered on the table of the customer. Other staff will deliver the order onto the table preferred by the customer. At times, during peak hours, while waiting on the line, other personnel might get your order using the checklist/menu for faster facilitation. So that, when it is your turn you will just immediately give the order slip to the cashier. The cashier will then confirm your orders before s/he will proceed to assembling your order.   Critical Incident Technique 1)         Though indirect, dissatisfaction may start from falling in line. This scenario depends on the efficiency of the staff, their time-consciousness and their ability to deliver meals at the time expected of them. Personally, I cannot afford to stand and wait until the clogged lines cleared-up. I even wonder why they have to close other cashiers during peak hours. 2)         Mostly, the personnel getting your orders while waiting in the line end up circling/marking the wrong items. Thus, when it is your turn to order and just give the order slip to the cashier, you have to repeat the orders you are taking. 3)         Just when you thought everything is running smoothly, the cashier had mistakenly punched-in your orders. Then, she’ll have to call the manager to alter the mistake before the cashier can proceed. 4)         Inconsistent pricing. 5)         When it is time for your order to be delivered, the crew member mixed up an order or two with other customer’s. Instead of giving you a McChicken Filet Burger, the crew gave you a McSalad. 6)         The food tastes rubbery if not salty or raw.               As  put it, education and empowerment are the keys (2005). More than living the “fast” in quick0serve restaurants, the management must be willing to educate their staff and crew members regarding customer treatments and how they feel when things gone wrong. They must teach them to empathize, apologize and recognize the mistake done. Training empowers people to make a difference in customer retention and loyalty (2005).               Other suggestions include training and retraining of the workforce from top to bottom, company-wide. The management could also document the complaints so that it would not be repeated and prevent re-occurrence of dissatisfactions.  Subsequently, the company must have an open-system feedback mechanisms be it from the customers or the workforce itself.  To manage customer expectations, actual service standards and measurements must be created and established ( 2000). Perhaps this can include posting their menus with accompanying nutritional information on their websites to facilitate intelligent food choices.                Customer Satisfaction Index (CSI) of McDonald’s Company reached an all-time low in 2003. Prior to this in 2001, customer satisfaction surveys proved that the company was falling behind its direct rivals: Wendy’s and Burger King (2004). Customers were also switching to other fastfood restaurants because of healthier offerings.  Complaints included dirty restaurants and indifferent staffs (opere citato).             In America, the CSI of Burger King grows with 4% to an all-time high of 71. New products were introduced and customer traffic elevated. Burger King had posted its menus and its nutrition facts in their website as well. In contrast, McDonald’s continuously goes down with 3% below industry average (2005).               In particular, consistency is present in every outlet with regards to food tastes and prices. Thus, you’ll leave the store satiable. Though complaints cannot be totally eliminated, the mere fact that they are greeting their customers upon entering the stores, getting your orders promptly and delivering it the time expected can build customer loyalty compared to the way McDonald’s crew, staff and managers treat their’s. The stores are always clean and warning signs are always placed accordingly.   Credit:ivythesis.typepad.com

Services Marketing

Q1: Satisfying service encounters include journal entry numbers 2 – Chanel, cosmetics; 4 – The Venetian Macao, hotel; 5 – Spoon, hotel ...

The use and importance of multinational marketing information systems (MMIS) to marketing management

Multinational Marketing Information System Introduction:             There are many business engaged in different line. And to be a multinational business owner or manager is like facing different challenges everyday. But what is multinational business is? At the multi-national stage, the company is marketing its products and services in many countries around the world and wants to benefit from economies of scale.1 The multinational enterprise with its operating subsidiaries spread over the globe presents formidable problems to managers responsible for marketing control. Each national market is different from every other market. Distance and differences in language, custom, and practices create communications problems. The size of operations and number of country subsidiaries often results in the creation of an intermediate headquarters, the so-called regional or area headquarters, which adds an organizational level to the control system.2 The control system were created and called Marketing Information System. It is defined as a system in which marketing information is formally gathered, stored, analyzed and distributed to managers in accord with their informational needs on a regular basis. The system is created through an understanding of the information needs of marketing management. It is available to supply information when, where and how the manager requires it. The data is taken from the marketing environment and transferred into the information that marketing managers can use in their decision-making processes.3 Multinational Marketing Information System             The Marketing Information System’s objective is to realize the importance and role of creating and maintaining informational basics for business decision-making.  The development starts in defining the marketing information system structure, and determining the data bases (internal and external) and computer applications. Next is problem solving in setting up marketing information systems at organizations. The determination of research objectives and anticipating market trends should be in prior.4  Diagram: Managing Marketing Information5   The Importance The companies need information on their concern of customer needs, marketing environment and competition. Marketing managers do not need more information, they need better information.  A systematic understanding of product supply, demand, transportation alternatives and requirements, credit and other relevant data will, similarly, enable companies to increase market transparency and to develop better production and marketing strategies. Eventually, this may lead to improved cost-efficiency and thereby higher income.6 Through the use of Marketing Information System, the company can handle and understand the customer relationship management. The can answer problems inherent in the operation and can formulate decision to support the system. They can create ‘what if’ scenarios using decision support systems. And finally, use decision support systems to improve strategic, tactical and operational marketing decisions.7 A good Marketing Information Management (MIS) balances the information users like against what they really need and what is feasible to offer. Although sometimes the company cannot provide the needed information because, it is not available or due to MIS limitations.8       The Applications             The use of MIS had a big impact in the following: v  Customer relationship management v  Internal marketing v  Outbound and inbound logistics and distribution v  Production and operations/ value chain analysis and decisions v  Sales and sales management v  International marketing v  Customer service evaluation and benchmarking v  Pricing decisions v  Marketing communications decisions v  Product and service development v  Strategic marketing plans. However it would be true to say of any information system or decision support system, that the end product is usually a decision about the future made in the present, often based largely on information about the past. This process by its very nature involves forecasting. Marketing information systems are focused more on structured decisions whereas supporting systems for less structured decisions are often referred to as decision support systems.9     Conclusion:             Gearing up for a new chapter in doing the business made easy when the company will acquire a process that will run through the bloodstream of the company. The Marketing Information System is an effective strategy to create new ideas and at the same times, solve demand problems. This system is entirely use for different kind of business, whether engaged in Domestic, International or Multinational.             The results always give two faces of possibilities: the advantage and disadvantage. In business playing, the company should be aware of what would be the next step to take. The forecasting of business’s life cycle can be predicted with accuracy if the coordination of the marketing strategy and the marketing demand are fitted. Companies always have the option to direct the market trends through different simulations and consumer’s needs pulsing. The marketing is considered as the life of a company thus, the managers should not stop detecting the “what’s in and what’s out” in the market.           Credit:ivythesis.typepad.com

The use and importance of multinational marketing information systems (MMIS) to marketing management

Multinational Marketing Information System Introduction: There are many business engaged in different line. And to be a ...

MARKETING CONCEPT FOR COMPANIES

<ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal"> Marketing Concept for Companies </li> </ul>   Companies must be able to practice marketing concept within their organization to analyze the needs of their customers. .The marketing concept relies heavily on the definition of the market segment, its size and needs By understanding customers’ needs, the company will be able to find ways on how to satisfy the needs better than their competitors. The increase in discretionary income allows customers to be selective and purchase products that precisely meet their expectations and changing needs. Therefore the company must focus its efforts to know what the customers want and how to supplement the needs whilst keeping the customers satisfied.             In this regard, marketing concept can be used to focus the need of the customer before developing a product or service. After which, the functional areas of the company must be aligned to focus on meeting those needs. Since the organization is concerned with the customer satisfaction, the entire organization must not neglect customer issues. The end result will lead to profit by successfully satisfying the needs of the customers. <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="color: #385C7E; text-align: justify; line-height: 200%"> Environmental Scanning in Domestic and International Marketing </li> </ul>             Environmental scanning is a business management process wherein businesses gather information from the environment where they will operate to achieve a competitive advantage. The information gathered from the environmental scanning are then used to alter the strategies and plans of the company. It involves scanning the social, economic, technological, competitive and regulatory forces.             In today’s organizations, external environmental factors are increasingly becoming complex and volatile. Because of this, managers utilize a wide array of change forces including the globalization of the market. With the environment scanning, the information about events, trends and relationships in an organization’s external environment are acquired.             The extent to which an environment is scanned by the business differs between the domestic and the global market. Scanning the external environment in the global arena would entail more information especially since the multinational enterprises are not familiar with the business environment unlike from those in their home country. This would entail intercultural communication, understanding the regulatory forces, trade barriers and employment laws implemented in the country. Moreover, the competition in the global market is more intense and thus requiring the organization to constantly scan the environment for new opportunities, technological developments and determine the requirements for the workforce to survive the fast paced environment. The smooth execution of these tasks will certainly allow the organization to thrive in the global marketplace.             The environment scanning in the domestic market will also need to undergo socio political, economic and technological scanning. Only that the environment in which the business operates is less complex as compared to the global market. Since managers are familiar with the business environment and people’s way of doing things, they are more likely to acquire valuable information and understanding of the environment with lesser effort. <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="color: #385C7E; text-align: justify; line-height: 200%"> Impact of lesser time allocation for meal preparation in the sales of frozen vegetables </li> </ul> In an era where people are increasingly preoccupied by work and their demanding schedules, lesser time is given to the preparation of meals. Such trend has indeed become the lifestyle of most working individuals. Primarily, this is attributed with the need to cope in their fast paced living. This paved the way for the emergence of more food chains that caters take out food and instant meals. Such has a clear impact in the food industry specifically in the sales of frozen vegetables. As people get busy, they are compelled to purchase food that is economical and easier to prepare. Thus, they are less likely to keep frozen food or vegetables as there are other more convenient options for them. <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="color: #385C7E; line-height: 200%">Useful way to segment the markets for the banking products/services.</li> </ul> Market segmentation requires the division of the market into distinct subsets that behave in the same way and therefore have the same needs. Since each segment is fairly homogenous in terms of their needs, they are likely to respond in a single marketing strategy. One of the requirements for a successful segmentation is the enormity of the segment to be profitable. The market segment for the banking industry can be considered a broad. Hence, it can target businesses, individuals and family alike. With this, it can use the top-down approach in which the total population becomes the starting point and then divide it into segments. The bank then can choose into either becoming a commercial or savings bank depending on the market segment they chose from the total population. References   Credit:ivythesis.typepad.com

MARKETING CONCEPT FOR COMPANIES

Marketing Concept for Companies Companies must be able to practice marketing concept within their organization to analyze the needs of t...

Mantero Seto Spa: A strategy for China

MANTERO SETO SPA: A STRATEGY FOR CHINA   I.              Introduction In the realm of business, having a clear understanding of the changes in the environment has become one of the most indispensable attributes that a company should possess. Specifically, the subtle changes in both the internal and external elements of the environment should be regarded intently. The workings of the market as well as the dynamics of the company that are directly affected by external environment are among those that require attention. Moreover, understanding the other elements like the product life cycle, value chain, key success factors, competitive advantage, and general market attractiveness allows the company to recognize how it will take on changes and adapt to the dynamics of the internal and external environment. This paper will look into these concepts and apply it to the case of the textile industry. Essentially, the focus of the study will be Mantero Seta SPA and its strategy to gain entry in the Chinese market. Thus, the discussions will be having an analysis of the capabilities of the company and how it will fit into the Chinese market. For clarity and coherence, the study is divided into several parts that discuss specific marketing concepts mentioned earlier. In the same account, the study will base its observations on the case study made by and  (2004). In the same way, the arguments and observations are to be based on academic and scholarly journals that deal directly with the Chinese market and other theoretical market concepts discussed in the case study.   II.            Product Life Cycle Mantero Seta SPA is said to be one of the top suppliers of textiles in the fashion industry in the world. (2004) This implies that the company is involved highly on the market of clothes and other items of fashion. This also indicates that the speed of change in the entire market where the company operates is considerably high. This means that the companies that operate in this sector tends to require some level of flexibility as changes in styles depend highly on the season and the subtle changes in the environment. Moreover, as  and  (1999, 1) noted in their work, that flexibility alone will not be able to be highly useful for the company if it does not have the resources to compete with the other players in the industry. In this regard, it is apparent that the product life cycle of Mantero Seta SPA, as well as those other players in the said industry, is rather fast. The creation to the termination of a particular element of fashion may have a significantly short cycle. (2004)  Added to that piece of caveat is the fact that such changes are predictable and some are not. For instance, imminent change in the climate could trigger the need for a specific type of apparel to be set in the market. In the same regard, change in trends could also elicit certain changes on the demand of the consumers. In any case, it has to be emphasised that the company that operates in the industry where subtle changes could trigger and end or a beginning of a new product life cycle.      III.           Value Chain A company’s value chain refers to  (1985, 1992) indicated as a means to acquire competitive advantage. This means that these are the set of attributes on which the company could employ in order to realise its goals of penetrating and even succeeding in the Chinese market. According to the case study, Mantero has focused its attention in improving its value by centring on its reputation, design and production methods. In the context of international trade and market entry, the reputation of the organisation holds a great deal of importance to ensure smooth sailing. (2003) On the other hand, the concept of design basically indicates the differentiation methods of the company. Basically, the ability of the company to establish strong differentiation capabilities in the market places it in a powerful position with reference to the other players in the industry. For instance, Mantero has been noted to create designs that exemplify quality and creativity. (2004) This is how the products of the company are differentiated with the other items in the market. This is a good thing for Mantero given that the products in the market are highly interchangeable. ()  In the context of production, this area covers the issues of logistics as well as the actual creation of the products. Specifically, the ability of the company to minimise the costs of these part of the operations tends to signify added savings and even possible avenues of investing these saving to the other aspects of the company’s operations.   IV.          Key Success Factors There are several key success factors that the Mantero could employ in determining its performance in the process of entry in the Chinese market. These include the creation of products complementing the geographical differences of the country; proper marketing methods; and proper use of the channels of communication in China. As indicated in the description of the Chinese market in the case study, it is apparent that the market is highly diverse as it encompasses a considerably large area. Elements of ranging from culture to climate tend to dictate the buying behaviours of the public depending on the norms and traditions established in the said part of China.  In the area of using the proper marketing methods, Mantero could employ its reputation. It has been mentioned in the case study of  and  (2004) that the industry where Mantero operates is highly influenced by the brands and pre-existing notions regarding a particular company. It has similarly noted that the company only need to do is to strengthen its brand name with its core customers and establish ties with the industry so as to establish a firm grip in the Chinese market. The company could take advantage of this by effectively using channels of communication that are proven effective in the Chinese market. These includes ffashion shows and fairs, mass media, traditional catalogues, and through the World Wide Web. In doing so, Mantero would be able to build up its name recall and further establish their reputation in the Chinese market.   V.           Market Attractiveness The Chinese market is claimed to have been among the untapped areas in terms of textile and fashion. According to the case study of  and  (2004) there are several reasons why international textile suppliers have seen China as a viable place for trade. After its accession to the WTO, flocks of businesses and organisations of all sizes have been seeking to operate and trade in the Chinese market. One reason is seen in the exchange rate of the country against the US dollar. The perennial risk in this respect is the fluctuating and even volatile nature of the exchange rate between China and the US. Other threats include the after effects of the SARS virus that shook the country in 2003. Up until now the Chinese government is still battling some isolated cases of the sickness throughout the nation. In addition, there is an established ring of counterfeit luxury items in China. Majority of these items are fashion products which directly compete with the original products of foreign companies operating in China. However, it has been mentioned in the case study that the Chinese government has been taking steps to ratify legislation protecting the patented brands in the market, including fashion trademarks. An added inducement for the companies towards China is the improvement of the technologies relevant to the operations of the textile industry. This is also fuelled by the increase of awareness of the buying public in China regarding the importance of brands in their buying decisions. As maintained in the case study, the buying public in China is slowly turning to a brand conscious public as the individual consumer show signs of seeking to stand out from the rest of the people. This is especially true in the younger generations of Chinese consumers who have apparently been attuned to the existing methods of retail. A.           Strategic Fit The intention of Mantero to take on the Chinese textile market appears to be a sensible idea as it fits well into the strategy of the company. The multi-million company has been pent up in boosting its international presence as it has established numerous operations in strategic parts of the world. Another strategic and potentially lucrative market is seen in the Chinese market. Seeing this context, it is apparent that the company’s intent to take on the Chinese market is “a strategy with its environment results in superior firm performance.” ( 2002) Basically, this means that the entrance to the textile market of China is a logical choice and a rational decision for the leadership of the Mantero Seta organisation. In addition, the case study has similarly highlighted that the market of China will similarly benefit with the entry of the company in their industry. B.           Sustainable Competitive Advantage After the company have realised its key success factors, and have successfully infused themselves in the market, all they have to do is to establish a set of actions that will ensure that the company will stay competitive and even achieve the top spot in the textile industry. In order to sustain its competitive advantage, the case study indicated that the company is highly acclaimed of its relationship marketing along with the top of the line designs that they offer their clients. According to the case study, the constant regard to feedback by Mantero is the key to the company’s success in keeping the loyalty of their core customers. In doing so, the company is given a pre-arranged list of customers that they have to regard highly and treat with utmost care, especially as the buyers of the industry have the power over the company. Moreover, the use of an effective information management system allows the company to store individual data regarding the individual clients and refer to them in future occasions. VI.          Conclusion Marketing concepts have been deemed one of the most essential elements in establishing a plan of action for any organisation. The discussions above have highlighted the importance of knowing these aspects directly affecting the company and how these are employed to their advantage. For instance, knowing the product life cycle and value chain of the company tends to eliminate the possible costs that could incur in their operations. In the same regard, establishing the key success factors of the organisation allows the company to set up benchmarks to measure their performance. In the same regard, the competitive advantage of the company allows them to determine their strengths and play it so they can penetrate the market effectively.   Moreover, the regard of both the internal and external environment tends to be the key to the success of the Mantero Seta SPA in its international operations. In the context of their entry in China, it is less likely that they will fail in this endeavour. The discussions above have highlighted the capabilities of the company and how it is apparently fit to operate in the Chinese market. All they have to do is to devise a plan that would endow them enough flexibility to deal with the subtle changes and radical adjustments that takes place in their operations in China. Upon establishing a stable hold on the market, Mantero Seta SPA could now take on ways of sustaining their competitiveness in their chosen market.     Credit:ivythesis.typepad.com

Mantero Seto Spa: A strategy for China

MANTERO SETO SPA: A STRATEGY FOR CHINA I. Introduction In the realm of business, having a clear understanding...

Marketing Communication : E-Commerce in Marketing

E-Commerce and Marketing   Marketing can be considered as one of the most important element underpinning successful business creation (1994). Perhaps because of its complex applications, marketing has been defined in a variety of ways (1988). The marketing concept was first promulgated in the late 1950’s (1990). The importance of marketing concept incorporates oft-repeated elements such as: customer orientation; integrated marketing efforts; and resultant profitability (1990). In terms of managerial perspective in marketing,  (1972) is the sole pioneer as he adopted the concept, when he proposed a generic concept of marketing concerned with how transactions are created, stimulated, facilitated, and valued.  (1988) on the other hand, believe that the main purpose of marketing is to create and distribute values among the market parties through the process of transactions and market relationships. Furthermore, the American Marketing Association has defined marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives (1994). However, with the introduction of new technologies especially the Internet, marketing ways have been changed greatly. Its impact cannot be denied and can be said to have revolutionized business. The Internet provides an effective interactive on-line tool that allows business processes to be aligned with growing demands for increased speed and efficiency at lower cost. The aim of this paper is to define E-Marketing and to review certain factors associated with it – including how it transform advertising, B2B, customer relations, and marketing strategies.   Problem Statement             This research investigates that different marketing communication strategies being used by online companies. The problem to be explored is how e-commerce impacts the communication marketing strategies of online companies, specifically how it transform advertising, B2B communications, customer relations and marketing strategies.   Research Questions             The main research question that the study will try to answer is: What are the marketing communication strategies that online companies use? Specifically, it will try to answer the following questions: Ø  What makes the marketing communication strategies of online firms different from that of offline firms? Ø  Are online firms more direct to customers? Ø  What are the communication tools or mediums that online firms use? Ø  Is marketing through the internet an effective means of building a brand or getting new customers? Ø  Is online marketing less costly than offline marketing? Ø  Is online marketing faster to implement than offline marketing?     Research Aims and Objectives             The study will specifically focus on DVD movies distributor companies in the Internet. This industry has flourished since the beginning of the internet and now offers diverse genre of movies from box-office hits and animations to adult films and rare films. The main aim of the study is to explore the problem with this specific type of industry. The following are the objectives of this research: Ø  To be able to identify the marketing communication strategies of online DVD distributor/retail companies. Ø  To be able to identify if online marketing strategies of these companies are less costly than the marketing strategies offline. Ø  To identify the advantages and disadvantages of marketing through the internet. Ø  To give suggestions on how online marketing communications can be most effective to these types of industries.   Methodology             The study will sample 50 DVD retail online companies. The sample will be stratified-random sampling. The survey strategy will be used for data collection. A structured questionnaire will be constructed for the survey and will be distributed to the respondents through email. Participation of the respondents will be treated with utmost confidentiality.             Data will be analyzed using the latest SPSS software. The analysis will look for the percentage and weighted mean of responses on each items.     Credit:ivythesis.typepad.com

Marketing Communication : E-Commerce in Marketing

E-Commerce and Marketing Marketing can be considered as one of the most important element underpinning successful business creation (1...

“Green Marketing” – a future power?

“Green Marketing” – a future power? Abstract Green marketing is an initiative process of delivering products and services that are based on environmental benefits. The main idea that revolves around the concept of green marketing is that, most of the products are environmentally or ecologically friendly. The green marketing concept arises from many variations, but still represents the consumer-oriented strategy. On the other hand, the target consumers are the people who are looking for economic sense and in need for green products. The green marketing theory arises from different marketing techniques. The green marketing is practically based in reading the consumer behaviors and achieving the goals and focused on commercial practice.  In order to achieve the organizational goals depends on the determination of the needs and wants of the target markets. Marketing is not responsible in creating the needs but once it is presented to them, the needs will reflect on it. The green marketing is a partial solution to the connection with other marketing. Introduction The success of the green marketing is based on being genuine which means that the business’s product campaign is mostly based on the establishment of environmentally friendly. The business should also be a portal in educating the customers about protecting the environment and the importance of alternatives. Next to the customer’s awareness is to give the customers the opportunity to take part in the benefits of green marketing actions. Discussions The green products that are sustainable should be more durable, cheaper, healthier, and thoughtful as it brought to the social communities. The green business, together with its products and services should make the future in a creative and thrilling way (2007). A leader who is concerned with the environment and thinks of other strategy must face the environmental problems and challenges that the business will meet. The involvement of redesigning in completing the task and responsibility for the environment is emphasized. And in return the business will gain great opportunity to spare the environmental resources in various good reasons. It is suggested that to achieve the overall competency, the business should improve the resource productivity to be meet the efficiency expectation. The business will face many environmental risk and costs but still they have to acquire the knowledge in managing and controlling these aspects (2006). As the marketing concept and perspective, the business should definitely meet the customers various environmental needs, for that they can build loyalty towards the customers and can promote value innovation and a chance to develop a breakthrough product. Profit is not questionable as long as the environment and the people are both benefitted. The strategic planning and thinking in different approaches is clearly in need of practical actions to establish the Eco-Advantage. The growth of the green market made the customers realize and take responsibility on their purchased products. The demand for the organic material or foods might trigger the other companies to reinvent the product just to capture the growing competency. The innovations in green marketing like the recycled materials or the use of organic fibers are examples of environmentally friendly products that a green business is promoting. Some of them included the food, or rather, invented and improved some edibles. This pertains to make the buyers aware in both consumerism and marketing (2007). The environmental crisis rest not within the specific behavior but within the production and consumption of the products, and the acceptance of the green marketing idea and practice is based on the nature and sustainability. The culture can serve as another portal in reaching environmental goals and market, for it is based on the understanding of the society . The green marketing program together with appropriate marketing action are the major objectives to achieve the green marketing implementation in a competitive market. The marketing plan varies in different situations and definitely based on the current events and reviews. Therefore, the aim for installing strategies and programs for the development is not impossible (1971).   Credit:ivythesis.typepad.com

“Green Marketing” – a future power?

“Green Marketing” – a future power? Abstract Green marketing is an initiative process of delivering products and services that are bas...

Marketing Concept and Marketing Plan for the Global Marketing Decision Making of Barclays PLC US

Assignment 1 Marketing Concept     Introduction             Each industry is subject to marketing elements which influences the company’s function and performance as a whole. Accordingly, such elements are the one’s attributed in determining whether the company has met their organisation objective and if they are able to satisfy their clients (Jobber & Fahy, 2006) In this regard, there are several approaches which can be considered so as to sustain competitive advantage within the marketing environment. One of which is through the use of strategic marketing approach. Primarily, the main goal of this paper is to analyse the context of marketing and to know the impact of environment and stakeholders in marketing decision making.   Marketing Concept             The concept of marketing has been a recurring concept in the organisational world and also in the  sectors.  Different authors have been able to provide their own definition for the context of marketing. Accordingly, marketing is referred to as the management function that shapes an organization’s relationship with its different publics. Marketing provides the link or bridge between the organisation and its environment, moving the institution away from bureaucratic inertia toward responsiveness to customer needs and anticipation of continuing changes in the environment. In short, marketing helps an institution fulfill its mission, keeping it relevant in a dynamic world (Wensley & Weitz, 2002).             Critical to selling a service or product is making known its availability which can be considered as an essential aspect of the marketing concept. As well as its desirability, this is the function of marketing in an organisation. No matter how well the product is designed, consumers will not emerge unless there is increasing information in the marketplace of its existence, and how it could positively affect the consumer’s day-to-day life. In the marketing concept, the management must accept responsibility for the consequences of their activities and make every effort to ensure that their decisions, recommendations and actions function to identify, serve and satisfy all relevant publics: customers, organisations and society (Brassington & Pettit, 2002).              It can be said that marketing is very important to a certain organisation since it attempts to predict its possible future.  Basically, marketing helps to provide direction to the business of an organisation. Thus, the success different organization depends not only to its capability to innovate products but also to its capability to provide quality marketing plans.   Impact of Environment and Stakeholders             In the marketing concept, there are various factors that affect the strategic marketing approach and decision making process. These factors include the market environment and the stakeholders. Market environment includes the microenvironment and the macro environment. It can be said that the marketing decision making approach of specific industry can be influenced by internal and external forces (Baker, 2003). In this regard, the marketing decision may be imposed at different sectors in the structure of industries (Swenson 1997). Internal environment that drive marketing decision making include growing business needs, organisation reform, restructuring and modification of the marketing strategy or business objectives. On one hand, the external environment may include the enhancement of technology, the need for electronic and technical services as well as the economic trend and development which influence the profitability of the organisation.             Aside from these internal and external environment, marketing decisions may also influenced by different stakeholders such as the marketer, manager, employees and also the customers or the target market.             In literature, it can be said that the marketing people is not in any position to make socially responsible decisions because it does not know enough about it. In Samli’s book, he refutes that this could not be true as who other than a particular business knows more about its particular products or services (Samli, 1992). This is true especially in the case of various companies who should recognize the probable impact of their products upon a reasonable person within the class of persons to whom the marketing advertisement or promotion is directed and other persons to whom such may be communicated, as they are the people who know more about their products than anyone else. On the flip side, there is also the consumers’ responsibility to regulate the consumption of specific products. The efforts of  marketers to inform the general public about the possible effects to the human system will ultimately come as no avail for some products, even though not inherently harmful, (Choudhury & Cui, 2003). Marketers must study the perception of the public when formulating marketing strategies in order to avoid potential misunderstandings when it comes to the use or consumption of the products (Smith, 1995).             In a world where competition is very stiff especially those on the marketing arena, there is a need to consider the marketer tasks in different situations or even the role of marketing within the organisation.  Basically, the life cycle of a product starts with some kind of stimulus, this stimulus is usually found by the marketing activity, and represents the reason for any product to exist: its need. A series of marketing activities during the pre-design stage are critical in the success of a product. Marketing activities such as Marketing research, market analysis, situation analysis, competitor analysis, forecasting, marketing management, product planning, etc., ensure that the product contains the essence of what the customer wants, all this with the ultimate objective of providing a customer with satisfaction (Hernandes, 2004).                In the competitive market environment, connecting with the target market is getting more complicated for different industries and for decision makers (McCombs, 2003).  Accordingly, it takes an effective management and approaches to win over the skeptical target market which suggest that it is the moment to forget everything that has been learned regarding marketing and branding (Yalstrow, 2003). It is mentioned that it is the target market that is in control of improving the power of marketing. In this regard, it is not the company who brand their target market, but the clients are the one which brands the company and their products and services offered.             All in all in can be said that marketing decisions are always influenced by different factors, in which the management should consider in order to make efficient and effective strategic marketing approach.   Reference Baker. M (2003) ‘The Marketing Book’ 5th Edition. Butterworth Heinemann London Blois, K. (ed.) (2000) ‘The Oxford Textbook of Marketing’, Oxford University Press, Oxford, pp. 61-62.   Brassington, F & Pettitt, S. (2002) Principles of Marketing 3rd Edition. Prentice Hall London, pp. 89   Choudhury, P. & Cui, G. (2003). Consumer Interests and the Ethical Implications of Marketing: A Contingency Framework. Journal of Consumer Affairs, 37(2), 364+.   Hernandes, N. V. (2004). Survey of Activities in the Pre-design Stage of a   Product Life Cycle.     Jobber, D. and Fahy, J. (2006). Foundations of Marketing. (2nd ed), pp. 28-30   McCombs, M. (2003) Everything you know about branding is wrong, expert advises: Guess who’s really in charge? Available at [brandharmony.com].  Retrieve October 22, 2008   Smith, C. (1995). Marketing Strategies for the Ethics Era. Sloan Management Review, 36(4), 85-97.   Wensley. R & Weitz. B (2002) Handbook of Marketing. Sage Publications. London, pp 81.   Yastrow, S. (2003) Brand Harmony: Achieving Dynamic Results by Orchestrating Your Customer’s Total Experience. Indiana: Tom Peters Company.     Assignment 2 Marketing Plan   1.0 Introduction             In spite of the problems faced in terms of financial crisis in the entire US, there are still companies that remain competitive in the US market and one of these is the Barclays PLC. This bank industry is noted to be one of the fastest growing credit card issuers in the nation and has more than 60 existing card partnerships with some of the most successful automotive, travel, educational, entertainment, and financial institutions in the entire US. It is also known as the world’s largest global financial services provide which provides investment banking, management services and other banking services. Although the company is known in the global credit card market, with their million credit card customers, the company is still need to expand their services to reach more customers both in the offline and internet market. The objective of this report is to provide a marketing plan for the global marketing decision making of Barclays US. Herein, specific factors to consider for having effective decision making approach will be considered. For this marketing plan, the main goal is to analyse the business environment where the company will be marketed.  The credit card and banking service of the company is chosen to be marketed in China.  It is noted that the main issue for this expansion is in line with the decision making approach of the company on whether the company should be expanded in China.             To be able to solve such issue, the solution is to execute or implement strategic marketing approach in line with the advertisement and promotion to make their target customers become of aware that the company is entering the Chinese market. Furthermore, the strategic marketing planning for expanding in the global market can also be attributed as a better solution to make sure that the products and services (Zou & Cavusgil, 1996) of the company will be introduced effectively, specifically in the Chinese market.  The only problem that remains unsolved is to find an industry (bank) which will commit for the distribution of the product. Hence, it is recommended that the industry must be able to use a more rigorous and comprehensive decision making and planning approach to enhance their market value in the Chinese market.   2.0 Marketing Strategy In the marketing entry to the Chinese market, it is essential that the Barclays marketing directors and managers must be able to conduct a market research that will investigate the potentiality of the market acceptance of the products and services offered by Barclays. Investigation should include the market evaluation and identify the most applicable market entry approach to be used to make sure that they will meet the organisational objective of Barclay in providing and reaching more customers in the global market. Furthermore, it is also important that the marketing manager should consider the investigation of the possible risks; problems and issues that will affect decision making approach as it enter the Chinese market and other part s of the world (Hofstede, Steenkamp & Wedel, 1999). It is also noted that the marketing manager should also develop advertising and promotion campaign to ensure that the Chinese market will be aware of the products and services offered by Barclays. 2.1 Philosophy             The company that will be given emphasis in this marketing plan is Barclays PLC. This finance industry is committed to excellences and that can be found on their efficient services. The company believed that their clients are their greatest asset and the company is dedicated to serve their needs.             2.2 Mission Statement             The company is to become the leader in delivering or providing excellent service to our target audiences. Our company wants to make our services affordable to our target audience and to provide credit card services to meet audience expectations.             We are deliver superior and high quality services for our audiences through the quality and credit card services and good relationship. The company exists to attract and maintain audiences. When the audience adheres to its maxim, everything else will fall into places. Our company’s services will exceed expectation of our target audiences. 2.3 Business Aim / Objective             Barclays Card is known to be the fastest growing credit cards issues in the US and other parts of the world. In order to sustain their position in the market, the company has been able to establish good partnerships with some of the most successful industries in automotive, educational, entertainment and financial industries in the US and other nations. Even if the company is doing good in some parts of the world, they are still on the verge of finding ways to know which global strategy will be suitable for gaining competitive advantage and position in the global market.   3.0 Marketing Mix Strategies In order to decide effectively in marketing the company to the Chinese market, the principle of the marketing mix is considered. Since marketing mix consists of controllable variable that is frequently adjusted to meet the changing needs of the customers and clients in the banking industry and other dynamics of the marketing environment (McCarthy, 2004). With regards to the marketing plan, the marketing mix composes of both the short and the long term approaches makes for a more profitable marketing mix and strategy. These strategies aims on building brand awareness and give sales revenue a gradual and permanent boos and it also create immediate revenue boost by giving customers an incentive to purchase (Kyle, 2004).   3.1 Product The main product of Barclays includes credit cards, banking and investment management services. As part of the decision making process, the company should decide on which products or services should be considered in the Chinese market.   3.2 Pricing Another aspect to be considered in this decision making marketing plan is the pricing strategy. To be able to be known into the Chinese and global market, the marketing manager will provide the Chinese market with an affordable cost while giving them high quality products and services.   3.3 Placement/Distribution To make the customers in China aware of the existence of the products and services of Barclays, their products will be distributed directly with their clients and customers. The customer care department will be responsible for calling prospective clients in China. Barclays’ products in China will also be distributed in the country through joint venture of existing banks and financial industries in the nation.   3.4 Promotion/Communication In terms of promotion, Barclay management with the collaboration of the marketing manager and customer care department will use audio and video advertisements print advertisements as well as the context of e-marketing. Direct selling through call center and customer care department will also be considered for promoting the products of the company.  Such promotion and communication aims on meeting the consumer from different places everywhere, specifically those target markets. On one hand, since the trend in the market environment today is the use of internet marketing approach, Barclay will also develop a website exclusively for Chinese clients so that they can easily understand the products and its descriptions and other services offered by the company (Donthu and Garcia, 1999). Accordingly, internet marketing approach can help the company to reach other customers around the globe.             With the use of this marketing plan and evaluation, Barclays will be able to establish competitive position in the Chinese market, considering that the hype of credit card markets is considered to be the powerful market in the world today. Through the information provided in this report, the management will be able to have effective decision on how they can enter Chinese market.   4.0 Target Marketing For the Barclays PLC become successful the company must be able to determine first its target market.  The company must used demographics to group or to determine the target markets of the company.  Demographics include profiles of the consumers and these profiles would determine the behavior of the consumers.  The Barclays PLC will make its focus on its target market in a different level of recognition.  The total markets (consumers or clients) will be divided into smaller, comparatively homogenous groups. Basically, its goal is to group its customers with similar or analogous characteristics, behavior and needs.  The main target is to offer its financial services, specifically credit card products to its target market demanding the said products and to offer quality banking and financial system and tools to the customers and to give proper marketing strategies for each consumer.  Demographics is used in order to statistically analyze the total market, subdividing the clients according to their ages, gender, income distribution most especially, driving them into students to professionals   4.1 Customer Base             The customer base will mostly cater those individuals within government and non-government employees and other parts of China who wishes to have a good credit card services. It can be said that the target audiences also includes those employees who wishes to have their own credit cards to help them in their financial problems.  It can be said that the marketing strategy of the company to penetrate these industries will be the same for all companies   5.0 Sources of Marketing Competitive Advantage Based on the given case, it ca be said that the source of competitive advantage of core competencies of BARCLAYS PLC includes the management and their employees and staffs. Their main competencies are the ability of the management to determine the possible demands of their target audiences in terms  needs and credit card services needs. Ensuring the quality of their products shown for their target audiences is another core competency of the company over their rival companies. The strongest point of Barclays PLC is the ability of the company to provide modern and contemporary  credit card services for their clients through their highly trained and professional staff and professors. In addition, the BARCLAYS PLC will also include programs that would help the loaners to know what credit card services suits them 3.1     Competitive Business Strategy The main goal of the company is to provide superior quality financial and banking industry that will cater to the needs of people who wants to feel ease with their financial status. The company exists to attract and retain their target market.  The objectives of the company are to maintain steady, positive, and growth each month in the China market In addition, the company also aims to generate more sales for their performances and experience an increase in new clients who are turned into long-term clients. In addition, the company’s financial objective is to be able to be known as a credit card provider in the entire Chinese market. In a company like Barclays, the firm has to try to attain this level of marketing position as a way of staying and maintaining sustainable competitive advantage.  In this regard, the school must be able to determine an efficient and effective marketing approach to be successful in the China market. In addition, one of the objectives of the intended strategies of Barclays PLC is to improve their means of promoting their business to people who mostly need their help.  This strategy will help overcome competition as well as increase profit margins. For this purpose, this intended strategy attempt to focus on their existing promotional aspects. Barclays PLC will change its focus to differentiate itself from the existing credit card services and other products and improve the business by filling the real need of adults and office workers or business professionals in terms of having a diversion for their credit card services.             The approach that will be implemented as part of this marketing plan is the use of integrated communication. This can be used to create and sustain close relationship with the enrolled adults and office workers.   6.0 Strategic Direction 6.1 Future Opportunities Since BARCLAYS PLCis not that familiar with the local Chinese audiences, conceptualizations of the value propositions of the business performances and entertainment are highly in synch with the traditional culture and financial servicesin the Chinese audiences. In this regard, marketing approach come relatively easier to BARCLAYS PLC management to enter Chinese audiences to reach their target market easily. Such market situation should be taken advantage by the management to gain competitive edge against other entertainment industries, which are performing in front of Chinese audiences to gain attention and informing them the benefits of credit cards to solve financial problems.   6.2 Future Threats In terms of the threats, one of the threats facing Barclays PLC is with regards to the expenses and the inability to provide enough financial resources for each performance to be made within the specific market place. Aside from these, the threat of the existing credit card and banking and financial company may also affect the market entrants of Barclays PLC at Chinese audiences.   6.3 Future Direction Based on the analysis, the company is in need of a comprehensive marketing strategy and strategic planning to ensure market success in the Chinese audiences. For this strategic development plan, it is recommended that the management of BARCLAYS PLC should focus on managing all their employees and talents of the company.  In addition, to be able to maximize their advantage in entering the Chinese audiences, the management should be able to manage this strategically. In line with the marketing development, the company should maximize the use of their financial resources in the latest trends in the market environment.  They also need financial resources, to sustain their strategic development in considering employee trainings to ensure that the changes in line with their interactive media planning sill be successful There are various factors that affect the success of the company market entry strategy. One of these is the context of organisational culture. Accordingly, with an enhanced organisational culture, and change, both the management and the employees are extremely involved in a constant joint effort to enhance the quality of the firm’s products or services at every level through strategic renewal. This then involves an impact similar to that of a chain reaction in which, the united goal of the organization to improve its services will eventually enhance their customers’ satisfaction and minimize the firm’s total costs. Another factor includes the leadership ability of the management (Appelbaum, St. Pierre & Galvas, 1998). The role of the leaders for example, is significant in developing organizational efficiency to successfully implement strategic changes. According to Bohn (2002), efficient leaders have the ability to view the future. They are equipped with compelling abilities to visualize where things will naturally end or lead to. Unlike other people, individuals with leadership abilities see things that are not noticeable or obvious to others. In addition, leaders have the ability to build and establish confidence to others (Bohn, 2002). It can also be said that the resources, capabilities, and business environment of an organisation or industry can all contribute to the efficacy or success of implementing this strategic changes for Barclays PLC. The company should then design a project plan for this strategy. Important resources that will serve as the strategy’s framework should be prepared. It is also suggested that the company develop a monitoring system, which will regularly evaluate the strategy’s progress. This will be helpful for detecting problems ahead of time as well as in implementing strategy changes or improvements. In this strategic development, it can be said that the commonness of the two is the initiation of the strategic planning. Accordingly, strategic Planning is part of the strategic development wherein the management team identifies ways and techniques to initiate the development or execute their objectives.  Strategic planning can be utilised when an organisation intends to instigate or initiate a certain project, in this case the BARCLAYS PLC information technology development and interactive media development and the marketing strategy development that will enhance the competitiveness of the organisation (Elkin, 1998). The strategic plan for each development, specifically in terms of their resource planning, assures that the company only utilised a strategic planning approach that will benefit the company to achieve its goal. In this manner, the management of BARCLAYS PLC should be able to incorporate strategic planning and implementation in line with its resources for both strategic developments.   7.0 Recommendation             As given, the Barclays PLC is trying to be recognized in the Chinese marketing, In this regard, the following is the Five-Year Plan Action Plan for the Barclays PLC in China. 1.    Strategy Description             To be able to make sure that the Barclays PLC in China are able enter the market as well as to take advantage of their opportunities and strengths and lessen the effect of their weaknesses and threats, Barclays PLC is recommended to consider the following marketing approach for the next 5 years Herein, this marketing plan will start for the consideration of the vision of the Barclays PLC to be considered in the next five years. Ø              To be known as banking and financial company event that provides excellent credit card services Ø  To be identified as a banking and financial industry that provides the needs and demands of their target market/             In this regard, the strategy that will be implemented by the Barclays PLC will be based on marketing through information system and communication. Communication strategy focuses on the entire relationship aspects of the Barclays PLC events towards the target market. This can be done by different communication strategies that will mainly focus on communicating and relating with the credit card services. It will be done by series of different communication method such as press, advertisement, website, seminars, and other events that are related to the said aspects. In terms of this approach, the use of Marketing through information system and communication strategy will be considered (Moore and Thorson, 1996). 1.    Action Plan       This part of the marketing plan aims on determining if the Barclays PLC is capable of initiating the said strategic actions (Avison & Fitzgerald, 2003). <ul style="margin-top: 0in; margin-bottom: 0in" type="square"> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Marketing Plan</li> </ul>       The consideration of the context of market planning as part of this action plan is important since it enables the company to determine the responsibilities for implementing the new strategy for the Barclays PLC and making the people more aware of the importance of this sporting events like any other sports such as basketball, football, boxing and others/ Herein, market planning requires their human resources to posses innumerable competencies from marketing proficiencies, personal skills, as well as other essential aspects to adjust with the changes by the external market factors (Meredith & Mantel 1995).    2.    Specific Processes to Successfully Implement the Action Plan A.  Team Organisation The Barclays PLC should be able to choose employees that will handle the market planning to promote the leaguer in the local and international level. B.  Controls Establishments        To be able to implement the market plan efficiently, the management that will handle Barclays PLC should consider the control of establishment which encompasses scheduling and monitoring. Scheduling is important to have some guidelines and guidance in implementing the change and monitoring is required to determine which part of the marketing strategic actions needs to be enhanced.   8.0 Conclusion Strategic Planning is part of the international marketing approach wherein the management team determines ways and techniques to initiate a project or execute their objectives.  Strategic planning can be used in when an organisation intends to instigate or initiate a certain marketing decisions that will enhance the competitiveness of the organisation (Kyle, 2004). The plan that has been stated above provide insightful details regarding the important aspects that should be considered to achieve a strategic marketing of the products (credit card) offered by Barclays PLC. The strategic marketing plan stated above assures that the company only utilised a marketing approach will benefit the company to achieve its goal of being the leading provider of videoconferencing products in international market.  With proper implementation of such plan and with the strong commitment of the management as well as the employees with this plan, growth, stability and competitive advantage will be achieved by Barclays.             9.0 Reference   Appelbaum, SH, St. Pierre, N & Glavas, W (1998), “Strategic organizational change: the role of leadership, learning, motivation and productivity”. Management Decision, vol. 36, no. 5, pp. 289–301. Bejou, D & Palmer, A (1998), ‘Service failure and loyalty: an exploratory empirical study of airline customers’, Journal of Services Marketing, vol. 12, no. 1, pp. 7-22. Bohn, J (2002), ‘The design and development of an instrument to assess organizational efficacy’, Proceedings of the Academy of Human Resource Development, March. Bowers, MR, Martin, CL & Luker, A 1990, “Trading places: Employees as customers, customers as employees”, Journal of Services Marketing, vol. 4 (Spring), pp. 55-69.   Clowe & Baack (2007).  Integrated advertising, promotion and marketing communications 3rd edition. Pearson Prentice Hall, 2007, 56   Czinkota, MR & Ronkainen, IA (2004). International Marketing. Thomson: South Western.   David, HR (2003), Strategic Management: Concepts and Cases (Eighth Edition). Prentice-Hall, Inc. New Jersey: pp. 137-138.   Donthu, N. & Garcia, A. (1999). The Internet shopper. Journal of Advertising Research. 39 (3), 52-58   Hofstede, F. T., Steenkamp, J. B., & Wedel, M.  (1999, February). International market segmentation based on consumer-product relations. Journal of Marketing Research, 36(1), 1-17. Retrieved December 26, 2008, from the EBSCOhost database. Jacksack, S 2008, Setting a Marketing Budget, Score, viewed December 26, 2008, http://www.score.org/m_pr_11.html   Kyle, B. (2004). Guide to a profitable marketing Mix. Marketing Plan.   Kotler et al (2004). Principle of marketing, the European edition.   McCarthy (2004).  Marketing Mix 4 P’s Model. Value Based Management   Meredith, J and Mantel, SJ 1995, Project management: A managerial Approach. John Wiley & Sons: New York.   Moore, J & Thorson, E 1996, Integrated Communication: Synergy of Persuasive, Lawrence Erlbaum Associates, Mahwah, NJ   Zou, S., & Cavusgil, S. T. (1996). Global strategy: A review and an integrated conceptual framework. European Journal of Marketing, 30(1), 52-69. Journal of Marketing Research, 36(1), 1-17.               Avison, DE & Fitzgerald, G 2003, Information Systems Development: Methodologies and Tools. (3rd Edition) McGraw Hill: New York Credit:ivythesis.typepad.com

Marketing Concept and Marketing Plan for the Global Marketing Decision Making of Barclays PLC US

Assignment 1 Marketing Concept Introduction Each industry is subject to marketing elements which influences the compa...