Marketing Management paper Essay

inquires1. formulate how marting affects the outcome of the financial equating Sales-Expense=Profit. What risk the company mightiness be facing in this equation with regards to securities industrying? Expound on the importance of marketing in sustaining business growth. (5 points.)In the equation, Sales-Expense=Profit, activities done in merchandising tolerate be said or considered as marketing expenses that includes advertising cost, promotions, PR events and Marketing Research cost (e.g. FGD, etc.). Through the income state ment, we stand study the Profit or Revenue and costs or expenses. These may include the costs of marketing the harvest or services with other costs that is deducted from the sum of coin of sales or total sales.The idea is to accession the revenue while costs are incurred by means of marketing activities. However, in order to achieve this, marketing activities must be done effectively and the costs or expenses should be managed correctly in order t o create skillful results. Marketing activities that are non managed properly may incur additional costs to the company and continue on to annex. This is especially applicable to companies with disparate crossing portfolios and margins, wherein they can incur losses once the profitability of a product decreases. watch moreWhat is New Public Management?2. Why do companies resort to market good dealation? Explain why or how segmentation can be an effective market entry/penetration dodge. flag an example not discussed in the class. (10 points)Better matching of customer needs guest needs differ. Creating associate offers for each segment snitchs sense and bequeaths customers with a better solution.Enhanced profits for businessCustomers throw off different disposable income. They are, therefore, different inhow sensitive they are to price. By segmenting markets, businesses can raise average prices and subsequently enhance profitsBetter opportunities for growthMarket segment ation can build sales. For example, customers can be encouraged to trade-up later on being introduced to a particular product with an introductory, lower-priced productRetain more customersCustomer circumstances change, for example they grow older, form families, change jobs or lower promoted, change their debauching patterns. By marketing products that appeal to customers at different stratums of their life (life-cycle), a business can retain customers who might otherwise switch to competing products and gradesTarget marketing communicationsBusinesses need to deliver their marketing message to a relevant customer audience. If the object glass market is too broad, there is a strong risk that (1) the advert customers are missed and (2) the cost of communicating to customers set outs too exalted / unprofitable. By segmenting markets, the target customer can be reached more often and at lower costGain parcel out of the market segmentUnless a business has a strong or leading s hare of a market, it is unlikely to be maximizing its profitability. Minor brands suffer from lack of scale economies in production and marketing, pressures from distributors and limited space on the shelves. Through plowful segmentation and targeting, businesses can often achieve competitive production and marketing costs and depart the preferred choice of customers and distributors. In other words, segmentation offers the opportunity for smaller firms to compete with epicr ones.3. What can be a good segment to target for a facial nerve nerve care product? Why? What can be a compelling consumer insight and your corresponding abide by mesmerism? exemplify your brand DNA diagram and prepare a positioning statement and a tagline. Outline your IMC campaign. (15 points) subdivision Facial products make especially for menCustomer insight There are many facial products available in the market but foc apply only on female needs, including anti-ageing products. Facial care produc ts for men are very limited as not all facial care companies turn into the market. However, due to the growing number of men getting more conscious of their appearance, they look for products that are made especially for us. This is as well as beca hold Mens skin differs from Ladies thus their skin needs differ. Value proposition cut mens facial care regime line products range from facial soaps, scrubs, non-alcohol ground cleansers, and facial lotions. Brand DNACategory Facial care for menCharacter Clear and bonnie for the real manCredibility Should be tested and approved by Dermatologists and Dermatological Institutes Benefit Complete men facial regimen Cleans and Clears the face, while moisturizing he skin. Difference Made especially for men and mens skin.Positioning statement The Product For men of different ages and skin types which provides clear and moisturized skin. Taglin Complete facial regimen for the naked as a jaybird manIMC campaign TV Advertisements, News papers, Mens Magazines, Bus posters.Storyboard A bodily structure worker, after a long day building a wall is then seen by his co-workers use a facial wash for women. Co-workers laugh when they see the man has a white face after washing. Co-worker gives the man the facial care product for men.4. Assuming that you are hired as a marketing manager of a publication company. Your primary task is to develop a unused powder cartridge clip that has a strongmarket potential.a. What type of magazine depart it be?b. Who will be your target market?c. Estimate or extrapolate the market value potential. What should be the subject mix (topics) of your magazine to attract and sustain readers?d. How will you promote this new magazine?e. What can be a good name for your new magazine?f. sprout DNA diagram and the positioning statement including the tagline.g. What are your determine and distribution strategies? (20 points)5. Hair Salons are al more or less in every corner, be it commercial o r residential area. Davids Salon is one of the successful beauty salon chains in the country that is targeting the mid-end of the market. A new phenomenon however took shape in recent years in the form of F Salon mountain chain and Reyes Cutters that are charging very low fee for a haircut (45.00-50.00 pesos only). For a while the two salons have mushroomed until they short lost esteem. Assuming, you have the capital to establish a hair salon chain, how will you build your brand? Discuss your 7-P strategies. Make sure you provide a brand name and a tagline for your hair salon chain. (20 points.)Brand name Hairline, CarelineTagline hairline, gone in 60 minutesPeople Adults with receding hairlines. Only a handful of salons or barbershops really focus on good deal with hairloss or receding hairlines. Product A line of hair salons especially for individuals losing hair services would involve scalp treatments, scalp massages and mainly haircuts that blur hair-loss and receding hairl ines. Price Haircut Php 150 Massage 200 Scalp treatments 200-300 (depending on the treatment e.g. spa or menthol) perspective SM Malls, Robinsons malls (non-high end malls)Process Customers come in and is assisted by the front desk for launching of services. Customer chooses the service. An expert to that service is provided to the customer. Promotion Newspaper ads, TV commercials, Flyering activities and on-line advertisements and postings on websites likeSULIT.COM, and/or Coupon websites like CASHCASHPINOY.6. Illustrate the Marketing accomplish that was introduced to the class. Discuss each of the steps in this process including their respective decision points/criteria. (20 points)Discovering / Identifying the ValueSegmenting Identify all possible segmentsProfiling Determine the most under fire(predicate) and profitable segment Targeting Choose your target marketConsumer Insighting Gain consumer insights through research, focus group discussions and/or surveys. Value Offer ing Determine your value which is relevant and distinct. This becomes your unique selling proposition.Creating the ValueProduct fancy Determine product type, line, depth.Product cultivation Determine the features and attributes of your products and how to improve it so that your value proposition will be realized. Branding Determine Category, Character, Credibility, Benefit and Difference and an appropriate brand name. Positioning Formulate what you compulsion your target market to perceive about your product and how you want them to understand and accept your value proposition. pretend a tagline. Pricing Determine if higher, parity or lower based on mark-up, targeting or value pricing.Making the Value AccessibleDistribution Determine how you want to go to market (i.e. channels of distribution)PlacementChannel MarketingCommunicating the ValueIMC Determine how you want to promote your product.EMC7. Discuss Ansoffs step-up Matrix. Give examples. (10 points)The Ansoff Matrix, desi gned by Igor Ansoff, classifies and explains different growth strategies for a company. This matrix is used by companies which have a growth target or a strategy of specialization. This animal, crossing products and markets of a company, facilitates decision making. The Ansoff matrix offers four strategies to achieve the objectives.Market PenetrationTrying to make a greater share of an be market with an existing product. This could involve product re-launch or increasing brand awareness. For example, Ipods can be used for file storage as well, this gained them market share in the storage devices market.Product DevelopmentDevelop new products to target the companys existing market segments. For example, Coca Cola introduced Coke cipher and Coke Cherry.Market DevelopmentFinding or creating new markets by targeting new parts of the market or by expansion into different markets. For example, San Miguel introduced San Mig Zero targeting the health conscious people that wanted lesser calories but still enjoy beer.Product DiversificationSeeking to create or develop new products, lines or product ranges for new markets. For example, when Apple introduced the IPad tablet, which revolutionized how people work and manage taske with tap and swipe on the screen.Existing ProductsNew ProductsExisting MarketsMarket PenetrationProduct DevelopmentNew MarketsMarket DevelopmentDiversification8. Discuss BCG Matrix/Grid (10 points)The Boston Consulting Group (BCG) Matrix is a simple tool to assess a companys position in terms of its product range.Question labelQuestion marks are products that grow rapidly and as a result consume adult amounts of interchange, but because they have low market shares they dont generate much cash. The result is a large net cash consumption. A question mark has the potential to gain market share and become a star, and eventually a cash cow when the market growth slows. If it doesnt become a market leader it will become a dog when market growth de clines. Question marks need to be analyzed carefully to determine if they are worth the investment needful to grow market share.StarsStars generate large sums of cash because of their strong relative market share, but also consume large amounts of cash because of their high growth rate. So the cash being spent and brought in approximately nets out. If a star can maintain its large market share it will become a cash cow when the market growth rate declines.DogsDogs have a low market share and a low growth rate and neither generate nor consume a large amount of cash. However, dogs are cash traps because of the money tied up in a business that has lilliputian potential. Such businesses are candidates for divestiture.Cash CowsAs leaders in a mature market, cash cows exhibit a return on assets that is greater than the market growth rate so they generate more cash than theyconsume. These units should be milked extracting the profits and investing as little as possible. They provide the cash required to turn question marks into market leaders.9. Discuss Product breeding cycle per second (10 points)The Product Life Cycle (PLC) is used to map the lifespan of a product. There are loosely four stages in the life of a product. These four stages are the mental home stage, the produce stage, the Maturity stage and the Decline stage.The Four Stages of the Product Life Cycle1. Introduction The Introduction stage is probably the most important stage in the PLC. In fact, most products that fail do so in the Introduction stage. This is the stage in which the product is initially promoted. Public awareness is very important to the of a product. If people dont know about the product they wont go out and buy it.There are two different strategies you can use to introduce your product to consumers. You can use either a penetration strategy or a shave strategy. If a penetration strategy is used then prices are set very high initially and then gradually displace over time. Thi s is a good stategy to use if there are few competitors for your product. Profits are high with this strategy but there is also a great deal of risk. If people dont want to pay high prices you may lose out. The second pricing strategy is a skimming strategy. In this case you set your prices very low at the beginning and then gradually increase them. This is a good strategy to use if there are alot of competitors who control a large portion of the market. Profits are not a concern under this strategy. The most important thing is to get you product known and worry about making money at a later time.2. Growth If you are lucky enough to get your product out of the Introduction stage you then memorialize this stage. The Growth stage is where your product starts to grow. In this stage a very large amount of money is spent on advertising. You want to of telling the consumer how much better your product is than your competitors products.There are several(prenominal) ways to advertise your product. You can use TV and radio commercials, magazine and newspaper ads, or you could get lucky and customers who have bought your product will give good word-of-mouth to their friends/family.If you are successful with your advertising strategy then you will see an increase in sales. Once your sales begin to increase you share of the market will stabilize. Once you get to this point you will probably not be able to take anymore of the market from your competitors.3. Maturity The third stage in the Product Life Cycle is the maturity stage. If your product completes the Introduction and Growth then it will then spend a great deal of time in the Maturity stage. During this stage sales grow at a very fast rate and then gradually begin to stabilize. The key to surviving this stage is differentiating your product from the similar products offered by your competitors. Due to the fact that sales are beginning to stabilize you must make your product stand out among the rest.4. Decline This is the stage in which sales of your product begin to fall. any everyone that wants to has bought your product or new, more innovative products have been created that replace yours. Many companies decide to withdrawal their products from the market due to the downturn. The only way to increase sales during this period is to cut your costs reduce your spending.10. How can Marketing help in nation building? What marketing concept(s) can be more profitable for nation building? (5-point bonus)Nation building can be done through promotion of the wonders of the Philippines use advertisements that can be shown using international programs such as CNN and BBC. Commercials that would emphasize the talents of the people, as well as promote investments of foreign companies orinvestors.Referenceshttp//www.tutor2u.net/business/marketing/segmentation_why.asp http//www.nku.edu/issues/internet_marketing/newwebpage1.html http//www2.accaglobal.com/documents/boston_consulting.pdfhttp//www.businessd ictionary.com/definition/Ansoff-matrix.html