Digital Marketing Management

Digital Marketing Management
Digital Marketing Management

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Digital Marketing Management

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“The essence of a customer driven marketing strategy is based on four major factors,namely market segmentation targeting, product differentiation and positioning.”

Discuss, with the use of relevant examples, how businesses may implement customer driven marketing strategy through managing the above four factors in the digital world. Please justify your answer using valid reasoning underpinned by academic sources and personal/professional experience (if any).
Give real life examples

Digital Marketing Management

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Digital Marketing Management

Digital marketing has become part of the business operation in the current dynamic world. The evolution of technology has made the implementation of marketing strategy easier since the marketers can now focus on four major factors to promote awareness of their products globally especially by focusing on the customer needs. The factors considered in digital marketing management include; market segmentation, targeting, product differentiation and positioning.

This paper will mainly analyse the various ways in which these four critical aspects of marketing can be implemented through an informed customer driven marketing strategy so as to promote the business in the digital world (Royle, 2014).

Understanding the customers and their needs are critical in implementing the digital marketing strategy. This develops the first factor which is market segmentation. This aspect mainly deals with dividing up a broad market into various groups based on various characteristics so as to ensure the customers are able to access what they need. Customers are different and they have different tastes and preferences.

Their locations and age can also be different as well and thus the need to segment the market so as to promote marketing. Market segmentation therefore helps in diving up the market so as to understand the needs of the customer and be in a position to meet their different needs (Rossberger, et al 2017).

Segmenting the market based on the geographical location of the client is important. This is because; the marketers can be able to provide goods and services needed in one location that may have a different demand in the other region. This type of segmentation focuses on nations, cities, provinces or even districts based on the size and market share of the business.

People located in different places may value products differently for instance, a commodity like a car may be considered to be a necessity within the United Kingdom but a luxury in other places such as Africa. Segmenting the market based on the geographical location will enable the marketer understand the specific needs and requirements in a certain location and thus meet the customer expectations. This is very important, especially in this digital era whereby marketing has gone global due to the use of the internet in marketing (Gibler,et al 2014).

The second type of segmentation is known as demographic segmentation. This is one of the most common forms of segmentation that applies to various businesses. Markets are divided into various groups for instance based on age, gender, income levels, religion, level of education and ethnicity among other factors. It is easier to segment markets based on demographics when it comes to digital marketing (Ananda, 2014).

The implementation of the marketing strategy can be done with ease as the demographics, for instance, can be used by the customers to search the products they need on various online platforms used by marketers to advertise. Taking an example of age, the customer can be able to filter out the clothes being advertised online and select those that meet personal tastes and preferences.

Similarly, a customer can be able to filter out the male products with easy and select from a variety. This makes the process of marketing easier for both the customer and the marketer. Other aspects such as religion and income levels can also be used in the same manner and thus contribute to ease implementation of digital marketing (Daniel, et al 2015).

Market segmentation can also be based on the customer behaviour. This is whereby, the market is divided and classified into various segments based on the actual behaviour of a person for instance on the previous buying rates, user status, the brand loyalty portrayed over time, the attitude towards the products, readiness to buy as well as the occasions of buying. Understanding this concept is critical to a marketer when it comes to digital marketing. This is because, the marketer will be in a position to classify the market on similar behaviours of the customers and thus convincing them to buy will be made easier (Tu, et al 2017).

Customers have different, unique behaviours and thus classifying them, for instance based on their previous rates of purchase, the marketer can predict the likely potential of sales that will be made and thus the appropriate advertising strategies can be put in place through the online platforms.

Taking an example of previous customers with a strong brand loyalty towards Samsung phones, for instance, segmentation will help in ensuring that the customers are well informed of the new products in the market and thus less aggressive methods of advertising will be applied in this case compared to the new customers in the market, who may have never bought Samsung products before or those who have low levels of brand loyalty towards Samsung products (Shi,et al 2015).

Psychological segmentation is the last concept under this factor. Customers can be segmented based on their interests and opinions which make up their lifestyle. Marketers need to understand the lifestyle of the customers so as to be aware if their needs and changes in demand from time to time. The clothing industry for instance is one of the best when it comes to using segmentation based on the psychological behaviour of the customers.

Some customers need to buy clothes from particular suppliers and they always look forward to new products in the market for such sellers thus an opportunity for one to utilize the chance, so as to promote the sale of  such products. Understanding the shifts in demand, especially in the fashion industry can help a marketer promote the marketing strategy in place by balancing out the various methods of segmentation (Lanz, 2015)…..

Digital Marketing Management

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Burberry’s Mobile Marketing Campaigns

Burberry's Mobile Marketing Campaigns
Burberry’s Mobile Marketing Campaigns

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Burberry’s Mobile Marketing Campaigns

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Case Assignment

Imagine you have been hired as a consultant to the VP of marketing for Burberry. The VP wants to get an objective opinion from someone outside the company who is familiar with current digital marketing basics.Your job is to write a short memo of 750 -1,500 words critically analyzing Burberry’s mobile marketing strategy. Note that the company has decided to use mobile social platforms to reach its target markets.

Read and cite required articles listed above, including additional research you have done, to address the following issues:

• Evaluate the assumptions behind Burberry’s mobile marketing campaigns, with a brief introduction of the company mobile marketing efforts.

• Analyze the effectiveness of Burberry’s mobile marketing campaigns by applying relevant branding and promotion concepts. Also specify the criteria you use to evaluate the effectiveness.

• With the increasing popularity of mobile media and social media, what would you recommend to Burberry regarding its mobile promotion strategy? Explain why.Do not spend a lot of time digging in the company’s website and do not just rehash what the company did; instead, introduce a critical perspective.

Focus on the Case articles as well as relevant background reading. There are no right answers; after all, you do not have inside information. You will be evaluated on your understanding of the background materials and your logic reasoning. In particular, show your understanding of the way a change in target market affects the company’s promotion strategy.

Also, give some thought as to how Burberry’s mobile marketing meshes with other elements of its marketing program, for example, merchandising (product management), channel management, and pricing.

Assignment Expectations Regarding Your References and Defense of Your Positions 

Write clearly, simply, and logically. Your memo should be 750-1,500 words long, excluding title pages and references, but quality of writing is more important than length. Use single space, black Verdana or Times Roman font in 12 pt. type size.

Check the following link for business memo format:

http://www.fsb.muohio.edu/heitgedl/Memo%20writing%20tips%20ACC333%20SP06.pdf.

Back up your positions or opinions with references to the required reading found in the Module 1-2 Backgrounds. In using those references, demonstrate your understanding of the concepts presented. Rather than grading on how much information you find, emphasis will be on the defense of the positions you take on the issues.

Also remember that:

• The “why” is more important than the “what.”

• The defense of your positions on the issues is more important than the positions you take.

Do not repeat or quote definitions. Your use of the required reading to support your opinions (that is, contentions or positions) should demonstrate that you understand the concepts presented.

Do not include definitions or summaries of the readings, or simply describe what the company did. Instead, your responses to the questions should be analytical and should demonstrate that (a) you understand the principles from the background reading and (b) you can apply them to this particular case. Vague, general answers will not earn a good grade.

Avoid redundancy and general statements such as “All organizations exist to make a profit.” Make every sentence count.Paraphrase the facts using your own words and ideas, employing quotes sparingly. Quotes, if absolutely necessary, should rarely exceed five words.

When writing an academically oriented paper, you will uncover many facts about the product. If you paraphrase the facts, cite the sources in your text and link those citations to references at the end of the paper.

Here are some guidelines on how to conduct information search and build critical thinking skills. 

Emerald Group Publishing. (n.d.). Searching for information. Retrieved from http://www.emeraldinsight.com/learning/study_skills/skills/searching.htm

Emerald Group Publishing. (n.d.). Developing critical thinking. Retrieved from http://www.emeraldinsight.com/learning/study_skills/skills/critical_thinking.htm

Guidelines for handling quoted and paraphrased material are found at:

Purdue Online Writing Lab. (n.d.). Academic writing. Retrieved from https://owl.english.purdue.edu/owl/section/1/2/

Purdue Online Writing Lab. (n.d.). Quoting, paraphrasing, and summarizing. Retrieved from https://owl.english.purdue.edu/owl/resource/563/1/

Purdue Online Writing Lab. (n.d.). Is it plagiarism yet? Retrieved from https://owl.english.purdue.edu/owl/resource/589/02/

Your paper consists of arguments in favor of your opinions or positions on the issues addressed by the guidelines; therefore, avoid the following logical fallacies:

Purdue Online Writing Lab. (n.d.). Logic in argumentative writing. Retrieved from https://owl.english.purdue.edu/owl/resource/659/01/

Mobile marketing spending is increasing in recent years due to the popularity of smartphone and mobile commerce. Burberry is starting to use the mobile apps to reach the target market. Burberry is the first brand to use a ‘Snapcode’ on Snapchat as it looks to give visitors in its stores access to exclusive content.

Read the following articles related to mobile app marketing campaign by Burberry, mobile app design, and the digital marketing trends. Note that you can find the articles without links in our online library databases using the search box on

TLC Portal.BI Intelligence (2015). Here’s where digital ad spending is going over the next five years. Retrieved from http://www.businessinsider.com/mobile-will-drive-ad-spending-across-digitial-formats-2015-7

Burberry launches on kakao (2015). Newton: Questex Media Group LLC. Burberry launches global partnership with line. (2015, Feb 05). M2 Presswire.DeMers, J. (2014, Aug. 15).

10 online marketing metrics you need to be measuring. Retrieved from http://www.forbes.com/sites/jaysondemers/2014/08/15/10-online-marketing-metrics-you-need-to-be-measuring/#65eec53b355f

Goodfellow, J. (2016). Burberry is printing codes on its products to encourage customers to use Snapchat in-store. Retrieved from http://www.businessinsider.com/burberry-partners-with-snapchat-discover-2016-4?nr_email_referer=1&utm_content=BISelect&utm_medium=email&utm_source=Sailthru&utm_campaign=BI%20Select%20%28Tuesday%20Thursday%29%202016-04-05&utm_term=Business%20Insider%20Select

L2 think tank: Burberry runs lunar new year WeChat campaign (2016). Chatham: Newstex. 

Magrath, V., & McCormick, H. (2013). Marketing design elements of mobile fashion retail apps. Journal of Fashion Marketing and Management, 17(1), 115-134.

O’Reilly, L. (2012, Sep 20). Burberry to put mobile first in mix. Marketing Week (Online).

Roderick, L. (2015, Sep 18). Burberry in snapchat first as it premieres new fashion collection online. Marketing Week (Online).

Roderick, L. (2016, Apr 04). Burberry uses first ever snapcode to let in-store customers unlock online snapchat content. Marketing Week (Online).

How to conduct a marketing audit (n.d.). MarketingTeacher.com. Retrieved from http://www.marketingteacher.com/marketing-audit/

Introduction to financial statements for marketing (n.d.). MarketingTeacher.com. Retrieved from http://www.marketingteacher.com/marketing-and-finance/

Marks, R. E. (1997). Market structure and competition (October 9). Retrieved from http://www.agsm.edu.au/bobm/teaching/ECL/lect03.pdf

Marketing Research (n.d.). MarketingTeacher. Retrieved from http://www.marketingteacher.com/introduction-to-marketing-research/

These Web pages explain concepts of the Segmenting, Targeting, and Positioning.

Building Customer Relationships. (2014). Pearson Learning Solutions, New York, NY. Retrieved from http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11770

Building Customer Relationships (Audio). (2014). Pearson Learning Solutions, New York, NY. Retrieved from http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11448

Segmentation (n.d.). MarketingTeacher. Retrieved from http://www.marketingteacher.com/segmentation/

Targeting (n.d.). MarketingTeacher. Retrieved from http://www.marketingteacher.com/targeting/

Positioning (n.d.). MarketingTeacher. Retrieved from http://www.entrepreneur.com/encyclopedia/positioning

Perner, L. (n.d.). Segmentation, targeting, and positioning. Consumer Psychologist. Retrieved from http://www.consumerpsychologist.com/cb_Segmentation.html

Here are some useful links on market segments:

Nielsen. (n.d.). MyBestSegments ZIP code look-up. Retrieved from https://segmentationsolutions.nielsen.com/mybestsegments/Default.jsp?ID=20&menuOption=ziplookup&pageName=ZIP%2BCode%2BLookup

Nielsen. (n.d.). Nielsen PRIZM – Understanding social and lifestage groups. Retrieved from http://www.claritas.com/MyBestSegments/tutorials/Nielsen_PRIZM/engage.html

Nielsen. (n.d.). Segment Details. Retrieved from https://segmentationsolutions.nielsen.com/mybestsegments/Default.jsp?ID=30&menuOption=segmentdetails&pageName=Segment%Details

TETRAD. (n.d.). Demographics. Retrieved from http://www.tetrad.com/category/demographics/

This article explains considerations internal to the firm that affect its financial health:

Porter, M. (1980). Generic strategies. Retrieved from http://www.marketingteacher.com/generic-strategies/

These Web pages explain the forces external to the firm that affect the financial health of a product or company:

PEST Analysis (n.d.). MarketingTeacher. Retrieved from http://www.marketingteacher.com/pest-analysis/

Managing External Forces (n.d.). Marketing Tutorials. KnowThis. Retrieved from http://www.knowthis.com/principles-of-marketing-tutorials/managing-external-forces/

The following readings relate to product management strategy:

Products and Services. (2014). Pearson Learning Solutions, New York, NY. Retrieved from http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=12052

Products and Services (Audio). (2014). Pearson Learning Solutions, New York, NY. Retrieved from http://www.pearsoncustom.com/mct-comprehensive/asset.php?isbn=1269879944&id=11699

Product decisions (n.d.). KnowThis. Retrieved from http://www.knowthis.com/principles-of-marketing-tutorials/product-decisions/

This series of Web pages explains that product decisions over which firms have control are forces that determine the financial health of a product or company:

Product strategies (n.d.). LearnMarketing. Retrieved from http://www.learnmarketing.net/product.htm

The following articles explain and illustrate branding:

Aisner, J. E. (1999) More than a name: The role of brands in people’s lives. Working Knowledge for Business Leaders Series. Boston, MA: Harvard Business School. Retrieved from http://hbswk.hbs.edu/archive/2598.html

Beyersdorfer, D., et al. (2011 January/February). Preserve the luxury or extend the brand? Harvard Business Review. 89:1/2(January/February):173-7.

Christ, P. (2009). Understanding the importance of branding (October 28). Retrieved from http://www.knowthis.com/insights/marketing-professionals/trends-developments/1559-understanding-the-importance-of-branding

Clark, D. (2011 March) Reinventing your personal brand. Harvard Business Review. 89:5 (March):78-81.

Edelman, D. C. (2010). Branding in the digital age. Harvard Business Review. 88:12 (December):62-69.Introduction to brands (n.d.). Marketing Teacher. Retrieved from http://www.marketingteacher.com/introduction-to-brands/

Klein, K. E. (2008). A practical guide to branding. Bloomberg Businessweek (June 9).

Tauber, E. W. (1981). Four branding alternatives: A branding strategy based upon brand extension. Marketing Teacher. Retrieved from http://www.marketingteacher.com/four-banding-alternatives/ 

Zax, D. (2010). For Millennials, brands may be as important as religion, ethnicity. Co-Create(November 17). Retrieved from http://www.fastcocreate.com/1679028/for-millennials-brands-may-be-as-important-as-religion-ethnicity

The following article explains brand personality:

Fournier, S. (1998). Consumers and their brands: Developing relationship theory in consumer research. Journal of Consumer Research. 24:4(March):343-372.

These articles address the question of celebrity endorsements:

A Teakettle with Star Power? The Upsides and Pitfalls of Celebrity Brands (2011).Knowledge@Wharton (April 27). Retrieved from http://knowledge.wharton.upenn.edu/article.cfm?articleid=2761

Star Blight: The Perils of Celebrity Endorsements (2006). Knowledge@Wharton (September 6).Retrieved from http://knowledge.wharton.upenn.edu/article.cfm?articleid=1552

Stone, M. (2012). How Retailers’ Love Affair With Celebrities Will Blossom In 2012. Forbes (January 4).

Check the professional market research reports from IBISWorld database to find the industry analysis for your cumulative Session Long Project.

IBISWorld Overview (n.d.). IBISWorld, Inc., New York, NY.IBISWorld Forecast (n.d.). IBISWorld, Inc., New York, NY.IBISWorld Data and Sources (n.d.). IBISWorld, Inc., New York, NY.IBISWorld Navigation Tips (n.d.). IBISWorld, Inc., New York, NY.

Check the following links for proper APA citation and reference format:

Purdue University Online Writing Lab. (n.d.). In-text citations: The basics. Retrieved from http://owl.english.purdue.edu/owl/resource/560/02/.

Cornell University Library. (n.d.). APA citation style. Retrieved from http://www.library.cornell.edu/resrch/citmanage/apa

Golden Gate University. (n.d.). University library: Research help. Retrieved from http://www.ggu.edu/libraries/university-library/research-help#citation-guide

University of Illinois at Urbana-Champaign. (n.d.). The center for writing studies. Retrieved from http://www.cws.illinois.edu/workshop/writers/citation/apa/intextcitation/

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Burberry’s Mobile Marketing Campaigns

Internal Memorandum

January 15, 2018

To:       VP of marketing, Burberry

CC:     

From:   Your Name, Marketing Consultant

Re:       Opinion on the digital marketing efforts by Burberry

Mobile marketing efforts

Burberry, a luxury clothing and apparel design, production and sales company, is among the top businesses in its industry. The firm, whose headquarters are in London, England and with operations around the globe, uses a variety of operational and marketing models to ensure they remain a top brand. With competitors such as Chanel, Gucci, Dior, and Louis Vuitton, Burberry has to employ innovative solutions to engage consumers and push for purchases. In the recent past, Burberry has adapted to the use of mobile technology in a bid to push for the increase in market share and sales for the brand.

A unique approach by Burberry to the marketing of their brand and merchandise has been the use of mobile marketing. The use of mobile marketing refers to various approaches used by companies to lure and inform their customers about their products and services. In using this method, the targeted customer is one who uses a mobile device for communications, media usage, learning, and entertainment. The methods used in mobile marketing are designed for the mobile device with a smaller screen size. Given the increasing size of the mobile phone market, as well as the constant rise in the number of mobile users, such targeted mobile marketing efforts by corporates are expected to have a large impact.

Assumptions behind Burberry’s mobile marketing campaigns

A first assumption is the continued growth of the mobile market. By investing heavily in mobile marketing Burberry assumes and heavily believes in the growth of the number of users of mobile devices. With this assumption, the company relies on the increasing numbers to upsurge the sales. In addition, the company assumes that their consumers are among the growing number of people who prefer having a mobile device such as a tablet, iPad, or smartphone in addition to a computer or laptop. This is in addition to those who are assumed to use mobile devices as their primary means of accessing information (Nagao, 2015).

Despite these assumptions having research data to back them up, they still are assumptions since there are a number of Burberry customers who prefer to visit the traditional brick and mortar shop as opposed to using the various e-commerce alternatives (Nagao, 2015). The assumption that the use of mobile devices will continue to rise may also be halted with the introduction of an alternative form of technological communication that may render devices such as the smartphone obsolete.

Another assumption by the company is that their online presence mirrors the sales. While the various online digital campaigns have been relatively successful, the use of online metrics and numbers may not accurately reflect the expected sales figures. Such figures as the number of daily or monthly visitors to a given webpage, or the number of clicks on an online advertisement, the number of likes on social media postings, or the number of followers may not necessarily translate to sales. However, as per Burberry’s reports, the firm’s sales have increased since the launch of the mobile marketing campaigns (Burberry PLC, 2017)….

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Cross-Cultural Marketing

Cross-Cultural Marketing
Cross-Cultural Marketing

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Cross-Cultural Marketing

Choose a topic from the wide area of cross-cultural marketing. Find and critically evaluate an article on cross-cultural marketing; please ensure that this is from a peer-reviewed journal. The topic could either be from an area that is of personal interest to you (e. g. something regarding your own company or your home country) or it could be some contemporary issue.

Find at least one business example for this topic. For example, you could choose an article proposing a model to analyse a possible target market. Your business example would then be a company which entered a new market. The critical evaluation would then consist of a well- researched discussion of how this model would have helped that company to enter the targeted market.

The rationale behind this task is that you will always be confronted with unfamiliar problems. Reading scientific literature is one way of getting to grips with a problem. It is also a good preparation for assignment 2.

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Social Engagement Assignment

Social Engagement
Social Engagement

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Social Engagement

Comment

Hi Sonny, I do concur with you that indeed, mobile gadgets are shifting social engagement, the manner in which organizations and businesses conduct their marketing. I support the fact that apps such as Instagram have become a driving force in how companies conduct their marketing.

Such as you have stated is backed by the fact that these apps have enhanced brand recognition through making sure that potential customers are informed of goods or services provided by various companies or businesses in an instant and a convenient manner. Therefore, through your informative blog, it is clear that indeed, mobile has become a significant factor in the field of marketing.

Reflection

Social engagement is one of the driving forces in marketing today. Through this, companies and other businesses put themselves in a position where they can directly engage with their already existing and potential customers.  Mobile phones and other internet-enabled gadgets such as tablets and personal computers have further heightened social engagement. As a marketer, am always drawn to the fact that marketing is a revolutionizing industry.

One of the aspects that I acknowledge is that for any company to survive, there must be marketing.  Technology has played a significant role in pushing for changes in the way that companies do their marketing. A vital lesson that I have learned is that mobile has become one of the major platforms for marketing of goods and products. As a millennial who owns a mobile phone and laptop, I have come to learn that most companies have not been left behind in adopting this strategy.

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Through reading the blog post by Sonny on how mobile has shifted the way in which companies carry out marketing, I am now more aware and knowledgeable of how companies have adopted apps as marketing platforms. Apps such as Instagram and Facebook have played a significant role in driving this aspect. One of the factors driving adoption of these platforms is that these apps have a large number of subscribers or users who frequent them.

One of the exciting things that I have read in Sonny’s blog post and one that I did not know is that there are categories of apps. Such as indicated include quick-timer and slow timer apps. This has opened up my mind on which applications are most appropriate in which situation. Without such knowledge, I believe that a marketer would be doing his or her job blindly and may not receive the best or anticipated results in social engagement primarily through the use of mobile apps.

In conclusion, I believe that the marketing industry is set for a time when the central and significant marketing will be mobile-oriented. For most companies, this is a reality that has not yet hit home since they are still stuck at majorly using traditional means such as television and billboards. With enough research and implementation, mobile marketing will prove to be beneficial to companies which intend to remain relevant and in business.

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Product Market Trend

Product Market Trend
Product Market Trend

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Product Market Trend

Write the trend of each product segments

• Telecommunication services• Phone devices• Accessories

Markets – what does the competitive landscape for your product look like?- What are the main Product market segments- Who are the major competitors and what are their products- What are the trends in the types of products being developed and launched

Please note that you will NOT be coming up with a new product idea. This assignment is about understanding the consumer, key influencing trends and creating the basis for idealization in the front end of innovation

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1. Markets – what does the competitive landscape for your product look like? • What are the main Product market segments Main product segments: • Telecommunication services? Optus, Vodafone, Telstra • Phone devices? smartphones, cell phone, public phones etc• Accessories? Headphones, cases, screen protectors, car holders, headsets

Marking Criteria 

1. Accurate and clear presentation 

2. Further research and comprehensive understanding (AT LEAST 8 ACADEMIC SOURCES) 

3. Logical and clear structure 

4. Quality of written expression 

5. Correctly formatted citations and bibliography.

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Entrepreneurial Marketing Coursework

Entrepreneurial Marketing
Entrepreneurial Marketing

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Entrepreneurial Marketing

Jones, R., & Rowley, J. (2011). Entrepreneurial marketing in small businesses: A conceptual exploration. International Small Business Journal, 21(1): 25-36

This is the article which has made a substantial contribution to my enjoyment and understanding of entrepreneurial marketing. I chose this article as it recommends further development of the notion of entrepreneurial marketing toward the notion of entrepreneurial marketing orientation. The authors draw on the previous research and scales in the entrepreneurial orientation, customer orientation, market orientation, and innovation orientation literatures to propose a conceptual model for entrepreneurial marketing which identifies the elements of such a model, alongside particular signs of the overlap between scales in the dissimilar areas (Jones & Rowley, 2011).

According to this model, marketing in Small and Medium-sized Enterprises is interlinked with other behaviours and activities within the small business. The new conceptual model states that to understand marketing in Small and Medium-sized Enterprises, it is important to understand its context particularly relative to customer engagement, innovation as well as entrepreneurial approaches to marketing (Jones & Rowley, 2011). For this reason, the selected article has made a substantial contribution to the entrepreneurial marketing concept and has been very enlightening to me.  

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The key themes include entrepreneurial marketing, importance of small businesses to a country’s economy, and entrepreneurial marketing orientation. An acknowledgment of the importance of the interaction between marketing and entrepreneurship has resulted in the proposal of the notion of entrepreneurship marketing. The key messages of this article pertain to further exploration and development of the notion of entrepreneurial marketing.

The authors point out that the concept of entrepreneurial marketing is especially vital to the context of small business (Jones & Rowley, 2011). The authors of this article suggest that the entrepreneurial marketing paradigm has to be advanced to incorporate an approach to marketing which is grounded not just in the knowledge bases of marketing, but also of entrepreneurship, innovation, as well as customer relationships and engagement.

The authors particularly argue for the inclusion of the concept of customer orientation as a separate and distinctive aspect of entrepreneurial marketing instead of this concept being included under market orientation (Jones & Rowley, 2011).       

The argument that Jones and Rowley (2011) make is well balanced since it is objective, reasonable, and sensible. To evaluate their argument in the context of the wider literature, other researchers have been cited adequately and properly throughout the article. In the section of the article titled Reviewing the orientation literature, Rowley and Jones (2011) have summarized and conceptualized previous work on entrepreneurial orientation, customer orientation, market orientation, and innovation orientation scales with respect to Small and Medium-sized Enterprises.

Additionally, the scales which were utilized in informing the elements in the proposed Entrepreneurial Marketing Orientation model are identified and discussed in an exhaustive manner, citing various authors. For instance, they have pointed out that market orientation is recognized extensively as having a positive effect on the performance of businesses (Narver & Slater, 2010; Deshpande, 2010).  As a result of their validity, reliability and robustness, the MARKOR Scale which was developed by Kohli, Jaworski and Kumar (2011) and the Narver and Slater’s (2010) market orientation scale are utilized in the market orientation component of the proposed Entrepreneurial Marketing orientation.

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The notion of customer orientation is considered by some authors as the pillar of marketing (Jaworski & Kohli, 2010). The marketing advantage of a small company is precisely connected to the close correlations between the clients and the entrepreneur unlike in bigger companies in which it is somewhat harder to embed entrepreneurship and a customer orientation into its organizational culture (Zontanos & Anderson, 2010).

The authors of the selected article also point out that investigation of entrepreneurial orientation pertaining to research in Small and Medium-sized Enterprises includes the investigation of technological posture, market focus and entrepreneurial orientation by Salavou and Lioukas (2011). Additionally, Kreiser, Marino & Weaver (2010) suggest that research on entrepreneurial orientation has to include pro-activeness, risk taking, innovation and culture. The scales developed by Matsuno, Mentzer and Özsomer (2011) and the one developed by Knight (2010) are a reflection of the consensus viewpoint of the entrepreneurial orientation literature preferring valid and reliable orientation scales.

Thanks to the strong focus on innovation as an output and not as a firm behaviour, there are few innovation orientation measures to draw upon. The innovation orientation scale developed by Siguaw, Simpson and Enz (2010) is suitable for Jones and Rowley’s entrepreneurial marketing orientation model. Dimensions derived from this scale which are included into Jones and Rowley’s entrepreneurial marketing orientation model are as follows: stimulating, encouraging and sustaining innovation; and overarching knowledge infrastructure (Siguaw, Simpson & Enz, 2010).

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As clearly shown above, the authors that are cited by Jones and Rowley in their article say a lot about scales in the entrepreneurial orientation, customer orientation, market orientation, and innovation orientation.  On the whole, what is important in this article is that the authors have integrated discussion of entrepreneurial marketing activities in Small and Medium-sized Enterprises into the broader conceptual basis and frameworks of the field of small businesses and have also proposed a new model for entrepreneurial marketing orientation.

Conclusion

In conclusion, in practice, this article can help an SME to perform better in that it encourages SMEs to embrace and integrate the themes of entrepreneurial orientation, customer orientation, market orientation, and innovation orientation in the developing paradigm of entrepreneurial marketing. The SME firms should acknowledge that these orientations interact and operate dynamically depending on the market sector, size of the company, as well as development stage.  

References

Deshpande, R. (2010). Developing a Market Orientation. Thousand Oaks CA: SAGE

Jaworski, B. J & Kohli, A. K. (2010). Market orientation: Antecedents and consequences. Journal of Marketing, 57(3): 53–70.

Jones, R., & Rowley, J. (2011). Entrepreneurial marketing in small businesses: A conceptual exploration. International Small Business Journal, 21(1): 25-36

Knight, G. A. (2010). Cross-cultural reliability and validity of a scale to measure firm entrepreneurial orientation. Journal of Business Venturing, 12(3): 213–225.

Kohli, A. K., Jaworski, B. J & Kumar, A. (2011). MARKOR: A measure of market orientation. Journal of Marketing Research, 30(4): 467–477.

Kreiser, P., Marino, L. D & Weaver, K. M (2010). Assessing the psychometric properties of the entrepreneurial scale: A multi-country analysis. Entrepreneurship, Theory and Practice, 26(4): 71–94.

Matsuno, K., Mentzer, J. T & Özsomer, A. (2011). The effects of entrepreneurial proclivity on business performance. Journal of Marketing, 66(3): 18–32.

Narver, J. C & Slater, S. F (2010). The effect of a market orientation on business profitability. Journal of Marketing, 54: 20–35.

Salavou, H & Lioukas, S. (2011). Radical product innovations in SMEs: The dominance of entrepreneurial innovation. Creativity and Innovation Management, 12(2): 94–108.

Siguaw, J. A., Simpson, P. M & Enz, C. A. (2010). Conceptualizing innovation orientation: A scale for study and integration of innovation research. Journal of Product Innovation Management, 23(6): 556–574.

Zontanos, G., & Anderson, A. R. (2012). Relationships, marketing and small business: An exploration of links in theory and practice. Qualitative Market Research: An International Journal, 7(3): 228–236.

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Soy Product Marketing in the UK

Soy Product Marketing in the UK
Soy Product Marketing in the UK

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Soy Product Marketing in the UK

Soybean and soyfoods are widely marketed in the United Kingdom. The United Kingdom is ranked as the leading exporter of soy food and product (Kwon, 2007, p. 71). The country has maintained the products’ economic and market value, thus increasing consumer interest and market value each year. This has influenced the level of consumption and production of the product all over the United Kingdom. To identify the stability of the soy market in the UK, it can be analyzed through the folloing marketing mix elements

Pricing

The pricing value of a product is an essential element of the marketing mix. This significanly affected the availability of the product in the market. Soybean is highly dependent on the market pricing value in the United Kingdom. The pricing for soya beans has been different in the UK depending on the quality and the maturity of the soybean. The quality of soy also influences its market value.

Tesco Soya beans for example have a high pricing value to indicate their quality in the market. The pricing of soy is strategic at influencing its worth in the UK market. During peak harvest, the pricing is set to drop and shoot during low harvest in the market (Hospes, 2014, 425).

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Place

The location or place also influences the market allocation of soya bean in the United Kingdom. Most soy product in the UK is exported to the United States and Canada as the primary target location. The location is influential in determining the target consumer and the region of sale. The UK has specific market locations for their for soy products. Statistically, UK has increased their soy export position to countries like Chile, developing new market ground for their product and increasing the sale and marketing of soybeans and products (Tomei et al., 2010, p. 301). 

Soy products are also marketed in locations where consumers are keen on maintaining a healthy lifestyle. Such avenues offers a ready market for the soy products in the United Kingdom. This is strategic at increasing the market value of the soy product and different strategic locations in the UK.

Reference List

Hospes, O. 2014, “Marking the success or end of global multi-stakeholder governance? The rise of national sustainability standards in Indonesia and Brazil for palm oil and soy”, Agriculture and Human Values, vol. 31, no. 3, pp. 425-437. Retrieved from http://search.proquest.com/business/docview/1552558916/F781D78E2C0D4CD6PQ/16?accountid=45049

http://search.proquest.com/business/docview/203708399/F781D78E2C0D4CD6PQ/11?accountid=45049

Jarvis, L. 2002, “Soy isoflavones set to blossom as consumer interest grows”, Chemical Market Reporter, vol. 262, no. 8, pp. 12-14. Retrieved from http://search.proquest.com/business/docview/194749025/742DDE9E412947B7PQ/4?accountid=45049

Kwon, N. 2007, “Super Soy!”, Canadian Grocer, vol. 121, no. 6, pp. 71-71,73,75. Retrieved from http://search.proquest.com/business/docview/222850267/742DDE9E412947B7PQ/7?accountid=45049 Tomei, J., Semino, S., Paul, H., Joensen, L., Monti, M. & Jelsøe, E. 2010, “Soy production and certification: the case of Argentinean soy-based biodiesel”, Mitigation and Adaptation Strategies for Global Change, vol. 15, no. 4, pp. 371-394.

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Marketing Strategy Report: The Adidas Company

Marketing Strategy
Marketing Strategy

Marketing Strategy Report

Executive summary

This report will analyse the Adidas Company. This report provides an analysis and evaluation of effective marketing planning process, techniques for controlling marketing activities, contemporary marketing techniques, and their use in global and international markets. Furthermore, the report examines the skills of marketing managers and their role in the effective management of the marketing team, value of a brand from a number of different stakeholder perspectives, and the organisation’s marketing campaigns in different international markets.

Methods of analysis will include SWOT analysis, marketing controls, and international marketing trends. Results of analysis depict that Adidas has abundant opportunities and strengths, but suffers from a number of weaknesses and threats. The report finds that Adidas has taken advantage of its strengths and opportunities to develop effective marketing plans that have assisted them to achieve their marketing objectives.

The Adidas Company has adopted marketing controls, such as annual control, profitability control, and strategic control that have helped in spotting deviations in its marketing activities and provided timely remedies to the variations. Adidas has implemented contemporary marketing techniques, such as email marketing, PR marketing, mobile marketing and the use of social media that have assisted in growing awareness of its new products in different international markets.

Marketing manager skills, such as excellent communication skills, problem solving skills, and project management skills are noted to be vital in offering effective management to marketing teams. Stakeholders, such as employees, suppliers, and customers play a significant role in influencing the value of the Adidas brand. The various stakeholders participate in building the brand equity.

The Adidas has tailored its marketing campaigns to suit the different international markets. The company uses local athletes from various countries and influencers of markets to promote its new products, X 15 and ace 15 in different international markets. The report recommends that Adidas should design products that are affordable to several customers and implement marketing techniques that promote and differentiate its products from its competitors.

Introduction

            The purpose of this report is to analyse the effective marketing planning processes and evaluate techniques for controlling marketing activities of the Adidas Company. This report also studies the contemporary marketing techniques and their use in global markets, examines skills of a marketing managers, and evaluates their role in providing management to the marketing team. Furthermore, this report assesses the impact and value of the Adidas Company brands from diverse stakeholders perspectives. In addition, this report looks into the marketing campaigns the Adidas Company has employed in different international markets.

            The competitive global market calls for companies to plan their marketing activities, establish their strategies and accomplish their objectives more effectively. The contemporary marketing techniques aim to create a link between the customer and the organisation. Companies attract customers through social media content significant to their needs or writing newsletters that have valuable information.

Businesses that employ contemporary marketing techniques are seen to be successful in achieving their objectives than those companies that rely on conventional marketing techniques. The report will utilise references from the company website and other research articles. Besides examining the Adidas Company marketing strategy, this report will look at modern strategies that the company can utilise to expand its international markets.

Effective marketing planning process

            Companies in all industries require marketing plans to succeed. Effective marketing planning process offers companies guidelines on how to market and trade their new products in the market within a specific period. The marketing plans guides the company in choosing an appropriate target market and then fulfill the customer needs in that segment. Moreover, the marketing planning process establishes the promotional strategies that can boost the sales volume of the company products.

The Adidas Company is an international corporation that designs and fabricates sports shoes, outfits, and accessories. The company is a leading sportswear in Europe and the global market. The Adidas Company has adopted a three divisional structure for its Adidas brand. The divisions include sport performance, sport heritage, and sport style. The adidas sport performance division centers on novelty, functionality, and design.

Furthermore, the division designs products for sports performance market, but have design appeal that pushes the consumers to wear the products off the playing field. The adidas sport heritage division includes adidas original products that aim to expand the exclusive and valid heritage of adidas to the lifestyle market. The sport style division is a fashionable assortment that consists of men’s and women’s shoes, clothing, and accessories.

The division targets young consumers who are looking for fashion-oriented sportswear products. The three divisional structures assist the Adidas Company to design and market innovative products, which satisfies the needs of varied customers. The Adidas has introduced new products like X 15 and Ace 15. X 15 is designed for players who control and bringing order to a chaotic game, while Ace 15 is designed for players who cannot be controlled.

Therefore, the Adidas Company requires an effective marketing planning process that would establish a target market for its new products and formulate plans of marketing its products and fulfilling the needs of that market. The marketing planning process is achieved through five fundamental steps. The five steps include objective and goal setting, assessing organisational resources, evaluating risks and opportunities, developing marketing strategy, and implementing and monitoring marketing plans (Adidas 2016).

Objective and goal setting

            This initial stage of marketing planning process includes setting of goals and objectives the company wants to achieve. The company should link the marketing plan with its mission statement and determine the primary target audience. Moreover, the company should establish the profit margin it wants to achieve after implementation of the marketing plans (Social care institutes for excellence 2013).

            The Adidas Company has developed a global brand in sporting products industry by designing quality new products that seeks to fulfill the expectations of customers. The Adidas Company has developed objectives that will assist the company to expand the global market of its new products. The company objectives include market penetration, which would aid in attaining market share in the global markets that the company competes.

The market development objective will enable the company to capture new business markets and respond to the needs of customer segments. In addition, the product awareness objective would offer visibility and realization of the company new products. The company objectives conform to its mission statement that states that the Adidas Company endeavor to be the global leader in sporting products industry with brands built on passion for sports and a sporting lifestyle (Chartered Management Institute 2015).

Assessing organisational resources

            Marketing plans are influenced by internal factors, such as organisational resources. The organisational resources include capacity in manufacturing, advertising, finance, and technology. Assessment of these resources will enable organisations to locate their strengths and limitations. Strengths aid organisations to develop objectives, establish plans for accomplishing objectives, and gain from marketing opportunities. On the other hand, resource limitation might hold back an organization from benefitting on marketing opportunities (MLF4 2012).

            The Adidas Company has several strengths that assist it to achieve its objectives. The company has strong financial position that is attributed to its several stores around the globe that make the company to achieve a profit of billions of dollars annually. The company trades its products from company owned stores, online stores, and supermarket stores. The effective distribution system enables the company new products to be available through diverse channels. The Adidas Company has increased consciousness of its new products through supporting major sports organisations, such as UEFA, NBA, world cup, and Olympics. The Adidas Company has uitilised YouTube to create videos that promote consciousness of its new products. Moreover, Adidas created videos that used David Beckham to promote its new products X 15 and Ace 15   (Nadeau et al. 2015).

            However, the company has some limitations that prevent it from taking advantage of marketing opportunities. The company faces a risk of over dependency on outsourcing. The Adidas Company has subcontracted a bigger percentage of its production to third party manufacturers, such as Asia to benefit from easy accessibility of raw materials and fair labour cost. The premium prices of X 15 and Ace 15 sporting shoes due to inventive technology and manufacturing techniques have made the products exorbitant to deprived customers, particularly in developing countries (Adidas 2015).

Evaluating risks and opportunities

            Nevertheless, the company has myriad of opportunities that will aid in fulfilling its marketing plans. The shifting lifestyle, taste, and preferences of rising economies have increased demand of premium brands. Furthermore, the company can extend its product line that will unlock new opportunities and attain an edge over its rivals through differentiation. In addition, the Adidas Company can integrate backwards that will aid in protecting their patent rights and combine their research and development division with the operational division in order to enhance brands innovation and development (Teach a man to fish 2014).

            Nonetheless, the Adidas Company faces threats that might influence its marketing plans. Despite Adidas being a global brand, it still faces strong competition from other premium brands, such as Nike. Moreover, local companies and substitutes provide standard competition to Adidas brands. The over dependency on outsourcing its production has made supplier to have more bargaining power than the company (Institute of Risk management 2013).

Developing marketing strategy

            Marketing strategy assist organisations to win market shares and converse to target market the advantages and aspects of a new product. Furthermore, the marketing strategy communicate the general value to their customers (Planning effective marketing strategies 2013).

            The Adidas Company utilizes online marketing and other promotion campaigns to communicate their legacy of innovation and technology to customers. The company uses celebrities in its online marketing. Adidas use players like Mesut Ozil to promote its Ace 15 sporting shoes. Adidas argues that Ace 15 is built to control and suited to players like Mesut who bring order to a chaotic game. On the other hand, Adidas use players like Gareth Bale to promote its X 15 sporting shoes. The X 15 is built to give thorough traction to energetic and agile players in the world. The Adidas has adopted sports marketing through sponsoring sporting events that offer many opportunities to the company, such as new products promotion and brand consciousness. In addition, the Adidas utilises search engine optimization (SEO) tools to optimize its website by considering the key words used by people in search engines. The strategy has generated high consumer traffic for Adidas. Furthermore, Adidas place banner advertisements on other webpage that has promoted awareness of its new products (Khankaew et al. 2015).

Implementing and monitoring marketing plans

            After developing the marketing plans, organisation follow the steps outlined in the plan towards achieving the stated objectives. The organisation provides continuous assessment to evaluate whether adopted strategies are achieving the objectives and goals. The Adidas Company stresses flexibility when implementing their marketing plans. The environmental opportunities and threats might not match with the company expectations. Shift in consumer demand, extension of distribution channels, and changes of supply costs might influence the outcomes, thus should be included into the monitoring of the plan (MLF4 2012).

Needs and techniques for controlling marketing activities

            For Adidas Company to effectively control its marketing activities should adopt control systems that provide standards for assessing performance in each division of marketing. The outcomes of marketing departments, such as interactive advertising and marketing research department cannot be evaluated by similar standard because they are not similar. Hence, Adidas should implement control system that has matching standard for each department.

Furthermore, effective control system should be able to discover variation and report them to the management. The control system should also recommend possible remedies that can correct the deviations. In addition, the control system should be easily understandable by employees and cost-effective to the organisation. A control system that is customized to Adidas specifications provides comprehensive information that is significant to the company line of business (Adidas 2015).

Annual plan control

            Annual plan control assists Adidas to evaluate its current marketing activities and outcomes to ensure that the yearly sales and profit objectives are attained. The annual plan control detects any variations on the performance of its X 15 and Ace 15 products and suggests possible corrective actions. The annual plan control utilizes tools, such as sales analysis, market share analysis, market expense analysis, and financial analysis to evaluate marketing activities and detect any deviations (Adidas 2015).

Profitability control

            Profitability control helps Adidas Company to establish the definite profitability of its X 15 and Ace 15 products, market segments, and distribution channels. The information generated from profitability control will influence the company decision on extension, reduction, or deferment of its marketing activities.

The profitability control will identify the functional expenditure, allocate the functional expenditure to the marketing entities, and prepare income statement for every marketing entity. Therefore, the profitability rely on the of sales and marketing cost analysis in determining the profitability and expenditure of the marketing entities (Adidas 2015).

Efficiency control

            The efficiency control aids the Adidas Company to enhance the effectiveness of its marketing activities, such as video marketing, network marketing, and blogging. The efficiency control assesses and reduces the marketing expenses of the marketing activities. Efficiency and profitability control are closely connected. Higher profits signify efficient management of the marketing activities (Adidas 2015).

Strategic control

            The strategic control ensures that Adidas marketing objectives and strategies are suited to the present and predicted marketing environment. Furthermore, the strategic control will evaluate if the company is pursuing the opportunities presented by the distribution channels, products, and markets. T

he company management should continuously utilize the strategic control because the continuously shift in marketing environment might render the company objectives, strategies, and policies obsolete. Moreover, the strategic control examine the company marketing efficiency by employing tools, such as marketing audit and marketing effectiveness ranking appraisal (Adidas 2015).

Contemporary marketing techniques and their use in Global and International markets

            Companies seek to expand their market share by venturing into global markets that are unsaturated and that offer the companies with several growth opportunities. Companies use contemporary marketing techniques to promote their new products in international markets. Most companies recognize they have limited markets when they concentrate in their local markets.

Hence, companies respond by looking international opportunities to raise their market share and customer base. The emergence of technology that crosses both cultural and national boarders presents the companies with the opportunity of utilizing technology to promote their products in global markets.

Moreover, the technology has resulted to development of contemporary marketing techniques, such as email marketing, social media, blogs, and public relation marketing that aid companies to market in global and international markets. Adidas Company has responded to customer migration to online world by embracing email marketing to promote its new products. Adidas utilizes email marketing to connect with current and prospective customers (Direct Marketing Association 2014).

            Public relation marketing increases the awareness of the new products offered by Adidas and advances the company reputation in the media. The public relation marketing also publicizes new products introduced to the market by the company. The PR is responsible of writing press releases, newsletters, and speaking about the organisation in public meetings, which help in promoting the image of the company (Introduction to Public Relation 2012).

            Social media sites, such as face book, and twitter offer Adidas exclusive opportunity to interact with customers and promote its new products. Adidas has utilized social media networks to increase consciousness of its new products, X 15 and Ace 15.In addition, studies suggest that companies who participate in social media platforms and mobile marketing enjoy higher loyalty from their customers.

Moreover, Adidas has embraced mobile marketing by acquiring an Australian fitness app maker, Runtastic. The app maker have over 130 million downloads and 75 million registered members globally, and is offered in 17 languages, thus giving Adidas a platform to market and promote its new products (Mobile Marketing Association 2014).

            Adidas has shifted its bulk of its marketing budget into online marketing through focusing on instantaneous content and online video. The company has developed Adidas’ digital newsroom that aid in promotion of its new products. The brand newsroom aid the company to create quality contents that is unique and form emotions. Furthermore, the digital newsrooms create content that is tailored to its audience and it is delivered promptly and to the accurate standards (Adidas 2015).      

Marketing manager skills and their role in the effective management of the marketing team

            Technology advancement has altered the role of marketing to a point that the duties of present marketing managers vary significantly from those of some years ago. Nowadays marketing managers should understand how trends, technology, and social media work in the marketing mix. However, there are essential skills that marketing manager must possess to enhance their management and performance of marketing roles.

The Adidas Company success greatly depends on the effective management of its marketing managers to devise strategies that enhance new products promotion and increase sales. The marketing manager should possess excellent communication skills and create open and operating channels of communication. Strategic thinking is a vital skill that assists marketing managers to reflect and solve challenges with exceptional perspectives.

Furthermore, the marketing manager is able to make decisions based on long-term viewpoint and recognize how to handle the exclusive needs of each member participating in the project. The marketing managers are faced with the need to handle challenges from clients, team members, and the management. Excellent problem solving skills enable the marketing manager to handle swiftly the challenges from the three stakeholders.

In addition, the marketing managers are required to hone their project management skills to guide their teams in realizing their objectives and taking advantage of social media opportunities (National careers Service 2012).

            Marketing managers play a vital role in providing effective management to their marketing teams. The marketing managers develop departmental targets and individualize them for each departmental staff. Moreover, they demonstrate how the individual targets would assist the department and the organisation as whole.

The marketing managers also identify the distinctive behavior of the team members and encourage them to achieve their targets by utilizing their unique traits. In addition, the marketing managers conduct performance appraisal of their marketing teams and congratulate them in departmental meetings when their transitional targets are achieved. This strengthens the significance on their individual capacities (National careers Service 2012).

Impact and value of a brand from a number of different stakeholder perspectives

            Brand equity can enable companies to set premium prices to their products because customers believe that products with famous names are better than products with unrenowned names. Customer-based brand equity results when customers recognize the brand and hold exceptional brand association in their mind. Adidas has positioned itself as a premium brand and customers are willing to pay more for its products. The positive customer-based brand equity has offered Adidas long-term revenues and capability of charging premium prices for its new products (Angulo-ruiz 2014).

            Employees play vital role in developing brand equity. Adidas recognizes its employees as major stakeholders in building the value of its brand. Adidas involves their employees in decision-making process and boost their satisfaction in order to attract the best talent that would help in designing new products. In addition, suppliers aid companies to have excellent reputation in the market. The brand equity of the Adidas Company assists in attracting reliable suppliers who might not be willing to render their services to unbranded firms (Cornell University ILR School 2013).

 Organisations marketing campaigns in different international markets

            The competitive environment prompts companies to develop marketing campaigns that will increase the brand consciousness and sales. However, due to diversity organisations should tailor their marketing campaigns to suit the international audience when expanding to international markets. The Adidas Company has used different marketing campaigns to promote its X 15 and Ace 15 products in different international markets.

The Adidas has promoted its new products in the US market by utilising online marketing that feature top players of National Hockey League (NHL) and National Football League (NFL). Moreover, the company has initiated major basketball marketing campaigns that resulted to a significant increase in its sales. The online purchasing has made it easy for consumers to purchase products directly from manufactures.

Adidas has adopted online purchasing by placing links on other websites like Google homepage that create high consumer traffic to the company website. The links help to promote product awareness to potential consumers. Furthermore, use of SEO tools to optimize the company website has made it visible to new consumers (Tesseras 2014).

            The Adidas has used the Chelsea FC’s players and collaborated with the British Paralympics Association to promote its new products in the UK market. This year Adidas launched a marketing campaign dubbed I am here to create that comprised a sequence of films that featured several sporting celebrities. The marketing campaign aired in fifty countries during broadcast of UEFA champion league and the Grammys awards.

In China market, the campaign featured the local players that have the power of influencing the market. The marketing campaign helped to promote the X 15 and Ace 15 sporting shoes that Adidas launched to the market. Adidas has embraced Web public relations (WPR) by placing news of product or service launches on company’s website and review sites for consumers to read. Furthermore, Adidas uses direct e-mail for its online promotion. Both WPR and direct e-mail have helped adidas in promoting its new products to consumers (Department for culture, media, and sport 2012).

Conclusion

            A company success is greatly attributed to the effective role played by is marketing function. Adidas effective marketing planning has guided the company to develop business activities that helps in achieving its organisation objectives. Marketing control systems have aided Adidas to assess its marketing activities and offer swift remedies to detected deviations. The Adidas Company has embraced contemporary marketing techniques, such as social media that have significantly enhanced its new products awareness. Furthermore, the Adidas marketing techniques that are tailored to different international markets have been successful in promoting its new products.

Recommendation

            Customers are noted to be satisfied with the design and durability of the Adidas products, however in aspects of price; Adidas should design products that are affordable to deprived customers, especially in developing countries. Moreover, the company can provide special offer of price in a certain period to boost its sales and attract more customers. In addition, Adidas should develop more marketing campaigns and techniques that promote and differentiate its brands from competitors.

StakeholderNegative brand impact Negative brand valuePositive brand impact Positive brand value
Employees of the Adidas GroupUniversities boycott High wages Worker strikesSkilled employees, Creative employees 
Authorisers: government, trade associations, shareholders, Executive BoardTax laws, Tariffs, Unsound decisionsTax incentives, Intellectual property law,Strategic decisions  
Business partners: unions, suppliers, service providersLow quality materials, Labor laws,Exorbitant pricesProviding quality material and services, Timely deliveries, Affordable prices  
Workers in our suppliers’ factoriesWorker strikes, Demand for higher wagesSkilled workers, Low wages
Opinion-formers: journalists, community members, special interest groupsNegative publicity, Use of kangaroo leather, Environmental impacts  Public relation, Product promotion 
Customers: professional athletes, distributors, retailers, consumersConsumer switching, Bargaining power, Consumer preferencesBrand loyalty, Product promotion, Product awareness
Peers: other multinationals, consumer goods companies and brandsCompetition  Partnerships  

Marketing mix for adidas

ProductPricePlacePromotion
Foot wear,Apparel AccessoriesCompetitive prices,Skimming priceExclusive stores,Multi brand showrooms,Online storesOnline marketing,Top player brand ambassadors,Sponsoring teams

References

Angulo-ruiz, F., Donthu, N., Prior, D. & Rialp, J. (2014) ‘The financial contribution of customer- oriented marketing capability’, Academy of Marketing Science [online] 42 (4), 380-399. Available from [17 October 2016]

Adidas (2015) Strategy overview [online] available from<http://www.adidas-group.com/en/group/strategy-overview/> [17 October 2016]

Adidas (2011) ‘adidas Launches Biggest Marketing Campaign in Brand’s History’Marketing Weekly News, pp. 1282 available [17 October 2016]

Cornell University ILR School (2013)Is There a Correlation for Companies With a Strong Employment Brand Between Employee Engagement Levels and Bottom Line Results [online] available from             <http://digitalcommons.ilr.cornell.edu/cgi/viewcontent.cgi?article=1023&context=studen  t> [17 October 2016]

Chartered Management Institute (2015)Setting smart objectives checklist [online] available from                <https://www.managers.org.uk/~/media/Files/Campus%20CMI/Checklists%20PDP/Setti  ng%20SMART%20objectives.ashx>[17 October 2016]

Direct Marketing Association (2014)Email marketing guide [online] available from <https://dma.org.uk/uploads/NEW_email_18%20July_53c8d94d437ea.pdf> [17 October 2016]

Department for culture, media, and sport (2012)Great campaign [online] available from <http://old.culture.gov.uk/what_we_do/tourism/8442.aspx> [17 October 2016]Introduction to Public Relation (2012)PR vs Advertising [online] available from <http://www.ipr.org.uk/pr-vs-advertising.html> [17 October 2016]

Institute of Risk management (2013)A risk management standard [online] available from <https://www.theirm.org/media/886059/ARMS_2002_IRM.pdf> [17 October 2016]Khankaew, C., Ussahawanitichakit, P. & Raksong, S. (2015)A CONCEPTUAL FRAMEWORK OF ALTERNATIVE MARKETING STRATEGY AND MARKETING OUTCOMES‘Allied Academies International Conference’ Academy of Marketing Studies [online] 20(2), pp. 1-16

MLF4 (2012)Develop and implement marketing plans for your area of responsibility [online] available from    <http://www.sqa.org.uk/files_ccc/MLF4DevelopandImplementMarketingPlansforyourAreaofResponsibility.pdf> [17October 2016]

Mobile Marketing Association (2014) ‘MMA and adidas publish The Mobile Marketing Playbook to Drive Global Marketing Efforts’Marketing WeeklyNews [online], pp. 179

National careers Service (2012)Marketing manager [online]available from            <https://nationalcareersservice.direct.gov.uk/advice/planning/jobprofiles/Pages/Marketingmanager.asp> [17 October 2016]

Nadeau, J., O’Reilly, N. & Heslop, L.A. (2015) ‘Cityscape promotions and the use of place images at the Olympic Games’Marketing Intelligence & Planning[online] 33(2), pp.147

Planning effective marketing strategies for a target audience– Adidas (2013) Business Case Studies LLP, London [online] available [17 October 2016]

Social care institutes for excellence(2013)The importance of goal setting [online] available             from<http://www.scie.org.uk/publications/guides/guide49/measuringoutcomes.asp>[17 October 2016]

Tesseras, L. (2014)‘The Marketing Year’the top campaigns of 2014Centaur Communications Ltd, London [online] available [17 October 2016]

Teach a man to fish (2014)How to evaluate your organisation [online] available from            <http://teachamantofish.org.uk/resources/schoolinabox/Manual2-HowtoEvaluateYourOrganization.pdf> [17 October 2016]

Dimensions of Entrepreneurial Marketing Strategies

marketing strategies
Marketing Strategies

In the modern world, there exists stiff competition in the global business arena on the perception of the entrepreneurial marketing. Recently, many organizations work in business environments that consist of increased uncertainties, reduced ability to foresee, fluid companies and industries jurisdictions. The competitive advantage has also been featured by the major factors such as contradiction, chaos, complexity, and change. These factors have the significant impact on marketing in an international know-how economy where clients are becoming tougher.

What appears to be apparent to the readers or researchers about the traditional marketing activities is where they are not in a position to opposite for entrepreneurial companies competitiveness amidst antagonism. Therefore, it can be noted that entrepreneurial marketing is view as a paradigm that combines certain aspects of the entrepreneurship and marketing into a comprehensive theory where marketing turn out to be a procedure used by the organizations to conduct themselves entrepreneurially.

There is a developing evidence to sustain the concept that organizations which are competitively advantaged are those which are betrothed like entrepreneurial marketing. That means that the marketing ways that are used by the entrepreneurs show the innovative orientations. The approaches vary in their connection or impact on the enterprise performances.

It becomes severe for a new business to comprehend the entrepreneurial marketing activities to apply and therefore it becomes significant to attain diversity of successful outcome and in due course for increased performances.

Lincoln marketing associates are described as the beehive of marketing operations, and it has been achieving a lot of concentration. Lincoln marketing associates top management and the working staffs use the innovative and creative marketing techniques to compete fairly in the market arena. Therefore the top management together with the workers requires taking on to the cord of conducts that guarantee the growth and application and development of the dimensions of the entrepreneurial marketing strategies.

The idea of entrepreneur marketing appears to have not been paid a lot of attention even if it is considered of great significance factor that counts in the development and extraordinary performances of the entrepreneurial companies. The general objectives of this essay are to discuss into details the dimensions of entrepreneurial marketing strategy.

Problem statement

The diversity in the competitiveness arena inside the marketing business environment has created competition for the companies to be terrible. The urge for an adequate comprehension of the entrepreneurial marketing strategies and the employment to the entrepreneurial organizations has continuously become a subject of vital concern to many researchers, employees and entrepreneurs of the business enterprises. The inadequacy of attention paid to the entrepreneurial features such as pro-activity, opportunity recognition and innovative poses a significant challenge to the Lincoln marketing associates.

The entrepreneurial pro-activity is serious to build an edge over the rivals. It entails the capability and the attitude that permits the control and the implementations of services, products or even the processes in front of the principal competitor in the global market within the same industry. On the contrary, entrepreneurial corporations are challenged with continuous dynamic changes in political, social, economic and technology thereby coming up with a congruent requirement to re-plan their entrepreneurial marketing operations to suit the changes.

Entrepreneurs are inclined to adhere with the uncertainties business as chances represent the probability of returns. The pursuit of these returns is challenged by the potential of risk over the underestimated efforts. As companies strive to pursue such chances, the top management of a given company is countenanced by the technical solving tactics, decision-making potentials and the potential to choose the right chances which make sure a competitive edge is higher than that of their principal rival.

The entrepreneurial firms are plagued with the problem of selecting from key projects that will maximize their performances, bearing in mind that not or corporations services or products innovation come to be successful, due to the fact of a high rate of return.

The concept of entrepreneurial marketing

The phrase entrepreneurial marketing comes from two different fields that are used to explain the marketing system of companies pursuing chances in dangerous market conditions always under the limited resources. To comprehend the entrepreneurial marketing, it is vital first to introduce the meaning of the expression entrepreneurship and commercialization.

The established conceptualizations of marketing hearts on the onset of operations which smooth the progress of the exchanged connection.  According to the American Marketing Association, “Marketing is 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 goals.”

Recently, an entrepreneur is becoming heroes in the recessionary period and the capability or the potential to work and develop an enterprise in an uncertain business environment which is of greater significance to the community. On the other hand, the term entrepreneurship is defined as the “process of creating value by bringing together a unique package of resources to exploit an opportunity.”

The system entails the set of operations that are essential to identify a chance, describe a business idea, look into the required resources, get those resources and control and reap the business.

The theory of entrepreneurial marketing explains the principles, tactics, and cord of conduct of an entrepreneur in addressing their problems and looking for business chances. It shows various ways to envisaging the venture by itself, its linkage with the marketing place and the purpose of the marketing functions inside the company or as a plan entrepreneurial pose or cord of conduct in marketing that is characterized by corporations.

Enterprises work in business environment represented by high uncertainties and low probability of forecasting categories of forces such as contradiction, complexity, change and chaos. Entrepreneurial marketing is defined as the “effectual actions or the adaptations of marketing theory for the unique needs of the firms.” The valid activities sited address many marketing issues simultaneously. These problems include resource constraints, risk, innovation, and opportunities.

Dimensions of entrepreneurial marketing strategy

Pro-Activeness

Researchers have argued that the pro-activity is an original cord of conduct built which shoe a relatively firm propensity to impact the business environmental changes. Other says that the pro-activity have a positive effect on a person as well as an enterprise performance.

The pro-activity helps the owner and the managers to be able to define their organizational objectives and their vision and the mission statement they will use to enable them to attain their strategic objectives. Therefore, Pro-Activity can be explained as a state of thought and will be broadly be driven by an individual perception to maintain the organization’s mission, vision and to attain the planned goal, (Hooi, Ahmad, Amran, and Rahman, 2016)

It is imagined that the vision towards the formulation of the strategic restriction for recreating, impacting and influencing the nature of which they work in line with their foreseeable future. The entrepreneurial pro-activeness can also be viewed as the awareness of the firm. Scholars suggest that the entrepreneurial pro-activeness does not continue living or have to turn out to be unsuspected to rich clients and where the new process of processing that may be unidentified to other tend to be practicable.

Pro-activeness portrays the entrepreneurial enthusiasm to control competition by combining the aggressive and proactive moves. For example by establishing new services or product ahead of the competitors and working in the imaginations of the forecasted demand so as to build change and shape the nature of doing business. Furthermore, encompassing proactive orientations entails the satisfactory and the discovery of the unarticulated requirements of clients by gathering them and the competitor based data.

The dimension of pro-activeness is stated to show the top management orientation in following improved competitiveness, and it entails the risk-taking, initiative, boldness, and the competitive aggressiveness. The pro-activeness portrays a stable active connection with the performance.

The entrepreneurial pro-activeness is not enough for it to be associated to the know-how of organizing the transformation of inputs to output for making sure that high performance is recorded. It makes the entrepreneurs look into the past, present and the future with same passion, using the historical pattern to describe and fully comprehend the present and to confront and build its own pro-active in future.

Pro-activeness is creating change, initiative taking, achievement oriented, foreseeing the evolution towards a serious condition and early preparation before the emergence of short risks. It reveals itself by the activities in the creation of the “stated belief” and the implantations of individual’s attitudes.

The tendency of the pro-active offer a company the potential to imagine the changes or the requirements in the market arena and be amidst the first to operate on them and the first to apply it is assured of excellence performance.

Opportunity recognition

The concept of entrepreneurial marketing stress on takings on the chances regardless of the resources available. Chances portray themselves unnoticed to the market positions which are capable for the sustainment of profit potentials.  Pursuit and recognition of opportunity are marketing operations significant to the success of a company. Marketability is estimated by the degree of firmness which links to the abilities and resources of the business.

It is the firm tendency to show the best opportunity that establishes success, (Shane, and Nicolaou, 2015).  Even if the opportunity may come randomly, the entrepreneurial marketers have the propensity to survey for new chances proactively. Being pro-active and having the willingness to be lead the way allows the entrepreneurial companies to serve the unsatisfied requirements and take gain of upcoming chances before the competitors.

Creativity and innovation are vital tools that help the entrepreneur’s companies to change opportunity onto the reality. Chances pay a fundamental role in the company’s ability to choose the best opportunity that establishes success, (Maine, Soh,. and Dos Santos, 2015). Opportunities are viewed as a goal phenomenon which exist sovereignty of the entrepreneur and as such be inherent in a flowing exposure that is outside the entrepreneur awaiting exploitation and discovery.

It is suggested that a firm market knows how establishes whether the innovation is employed at best era, under little idea perceptions. The marketing know-how provides as a restriction, stopping the companies from extravagating resources in vain. Also, it allows the organization to take the best of its time, direct the firm towards its success. 

The availability of the chances is likely to show a relationship between the rates of the changing business environment, indicating the demand for the marketing personnel to connect in heightened categories of both actions for the discovery and search.  Moreover, the exploitations of the chances include the continuous adaptations and the learning by the marketing staffs prior, during and after the formal employment of the innovative ideas.

Opportunities portray unidentified marketing positions which are the sources of sustainable income potentials. They are consequential from the market imperfection, where the know-how relating to the defect and how to take advantage of them are differentiating the entrepreneurial marketing.

Innovation

The concept of entrepreneurial marketing is found in the ideas and the innovation development that are linked to the intuitive comprehension of the market demands. It can promote the essential core competencies for a proactive company that finds innovative ways for the clients. Innovativeness is explained to the dynamic organizations that discover new chances rather than just make the most of the recent strengths. Therefore, it seems necessary to an innovative effort that is capable of expanding the customer’s wants, (Boso, Cadogan, and Story, 2012)

Scholars have argued that innovativeness entails promoting the spirit of supporting research, creativity, development, establishment of new product and services, technological leadership, experimentations and developing new processes. An innovation-oriented marketing operation helps the company to aim at concepts that lead to new processes, products, and markets.

The degree to which flourishing the companies places innovation in its marketing operations can grow from highly innovative new market know-how. Companies may select to aim at the original lines of marketing since the organization may not have the asset to attain or sustain the industry requirements. An entrepreneur shows a general openness to the introduction, and they also portray a single domain in the research that compares entrepreneurial marketing, corporate marketing, and the traditional marketing.

It can be said that, in the scenario of the entrepreneurs, the marketing plans take over from the traditional marketing ideas by the innovation shown by the entrepreneurs of today, flexibility, and creativity, (Pahnke, McDonald, Wang, and Hallen, 2015)

Innovation consists of positive technical knowhow concerning how matters can be done better that the previous state of creativity. Being innovative will assist the companies to increase new ventures and sole proprietorships opportunities and successfully finalize in a changeover economy. It helps firms determine a leading competitive position and can have enough money to a new venture and change to receive an edge in the market.

Firms that sustain the culture of innovation have a higher probability to maintain a competitive market and dynamic in a way that it is by an intuitive comprehension of the marketing demands. Creativity and innovations are conditions intrinsic in the purpose of the entrepreneurship and show a company needs to improve techniques which may impact in the establishment of products, technological systems, and processes.

Scholars argue that innovativeness has to turn out to be a pre-requisite for an organization’s core competencies and survival. It seems specifically significance to SMEs with limited assets. Innovativeness is a significant determinant of a company’s performances.

Calculated risk taking

The authority of risk taking entails the willingness to use the substantial asset for exploiting the chances by using business plans based on the effects which may vary with risk. Companies which have taken on the entrepreneurial marketing develop the calculated take, rational and weigh uncertainties, (Lückenbach, Baumgarth, Schmidt, and Henseler, 2016)

Companies that have taken on the entrepreneurial marketing developments are not speculators but are risk takers who comprehend that the innovation in the current technological, social and economic environment is intrinsic unsure and needs the rational laying a bet on the long shots. One technique for managing risks is to operate in coalition with other groups, that the companies thought will offer the complimentary potential and assist tilting the loss to other people.

Customer intensity

The dimension of client’s strength creates on what is seen as the driving factor of marketing in the corporation. The client-centric-orientation applies the innovative manner to build and maintains the customer based relationship, (Lechner, and Gudmundsson, 2014).Some of the researched studies explains that the organization successes are which placed on a greater stressing of the customer intensity. On the contrary, it has additionally opts those extreme clients orientations might slow down the burst through of the innovation which builds markets and disrupt equality.

It is because the fundamental changes are out in front of the client. Customer orientation has its base in introductory services marketing text in that the significance of customer focused workers was a physical sign of quality for the company and its services. Since then, the ideology of customer orientation inside the company has been examined by various researchers and authors. Indeed, some of them see the client directions as the “pillar of marketing,” (Anning-Dorson, 2016)

Value creation

The optimal point of the entrepreneurial marketing is the innovative value creation. It is assumed that the value creation is the precondition for the relationship and transactions. The work of the marketing workers or the marketers is to find out the unused resources of the client value and to build a first integration or asset to bring into being value, (Amit, and Zott, 2012). 

It is because, the paramount ability to see and utilize chances is argued that the companies that take on the entrepreneurial marketing system are well able to recognize good-looking entrepreneurial prospects and use them by leveraging innovation to improve the sacrificed merits and reduce the sacrificed costs that result in paramount value for the client, (Dess, Lumpkin, and Eisner, 2014).

Resource leveraging

The primary challenges that occur for the new business as far as marketing is concerned are the limited of personal and financial resources. The insufficiency requires a thorough monitoring of the marketing expenditures and constrains the intensity and the range of marketing operations within the new business that can be pursued, (Hallbäck, and Gabrielsson, 2013).

The entrepreneurs can deal with this challenge by trying to attain additional assets like the bank’s loans, venture capital, and trying to meet the optimal impact of the limited resources. Two approaches can be reviewed on how to deal with the scarcity of the resources. The first one is the strategies and techniques that are used to minimize the amount of asset used for a given marketing operation.

They entail; strategies for creating a coalition with other firms and the free rising plan. The second ones are the strategies and methods that need only a few assets yet assure to regenerate higher return in the marketing arena. They include step by step development plan, adoption of a niching strategy, low-cost guerilla methods in marketing, (Becherer, and Helms, 2016)

Implications of the findings

The study has shown that the entrepreneurial marketing is a multi- dimensional assembly whose features have an important, optimistic power on the greater performance of the Lincoln marketing associates. The essays portray that the seven dimensions of the entrepreneurial marketing strategies that is the resource leveraging, value creation, customer intensity, risk taking, innovation, opportunity recognition, and the pro-activeness by the Lincoln marketing associates will improve the performance.

Moreover, the essay confirmed that the entrepreneurial pro-activeness is the fundamental driving factor to attain the core competencies. The aggressive steps and system by the establishment of the new products or services ahead of the key rivals determines the core competencies firm exposure to other companies within the same industry, (Franco, and Haase, 2013)

Additionally, the entrepreneurial company’s pursuit and recognition of the chances are the marketing operations that are significant to the performance. Therefore going by the latent marketing chances by looking innovative explanations to improve core competencies. A chance of a company aims at the capability to choose the good chances to establish success. Thus the Lincoln marketing associates chances recognition potential has an enthusiasm result on the performances, (Alegre, and Chiva, 2013)

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