Dissertation Assignment 6: Marketing Strategy and Planning
MODULE TITLE: Marketing
MODULE DATE: 31 Dec 2014
NAME: PHUONG HOANG THI HONG
STUDENT NUMBER: 472
INSTRUCTOR: PROF ANH THO ANDRES
- Marketing, what ‘s it all about
- What does a Marketing Manager do?
- Why is Marketing Strategy Planning so important?
- What is the Marketing Mix?
- How to get right customer
- What is the use of Market Research
This is my very first Dissertation about Marketing Strategy and Planning topic. This focus on basic elements when it comes to Marketing. This includes 6 points. Firstly, it begins with definition of what Marketing is that helps learners have overview about Marketing. Secondly, it shows us the role of Marketing Manager. What a Marketing Manager does. It is also showed the important of Marketing Strategy Planning. The equally important, every people who studies Marketing have to know is Marketing Mix. The last is what the use of Marketing Research is.
2. Marketing, what’s it all about
“Marketing is the term given to those activities which occur at the interface between the organization and its customers. It comes from the original concepts of a marketplace, where buyers and sellers would come together to conduct transaction (or exchanges) for their mutual benefit. “
Quote from Chapter 1 in Essential of Marketing ebook, third Edition,
According to the Businessdictionary.com, Marketing is “the Management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P’s marketing: (1) identification, selection and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer’s place, and (4) development and implementation of a promotional strategy.”
Marketing is process of brainstorming from generating product idea to how to make customer satisfy.
Iphone line was born by Steve Job who asked some engineers at Apple Inc to investigate touchscreen. In 2003, at executive conference, he believed that cell phones were going to become important devices for portable information access. On Jan 2007, he announced the very first iPhone at the Macworld convention.
Skimming pricing strategy is pricing policy of Iphone, which gains highest initial price at the beginning of product, followed by lower price range at substitues products appear later.
People can buy Iphone at official Apple store chain in some contries all over the world. Until now, Apple is available at 98 countries.
Fans of IPhone were known Iphone through launching event with spokenperson, internet, Pr or even direct marketing.
3. What does a Marketing Manager do?
Depending of the scale of company, the high Marketing position has different Marketing Job Title such as: Marketing Manager, Marketing Director, Chief Marketing Officer, Head of Marketing, Vice President of Marketing. There are many kinds of Marketing Job.
If these positions below belong to a Marketing Department, we could have overview about responsibilities of a Marketing Manager, who are he/ she works with, what he/ she manages in firms.
- Brand Manager: Responsible for all the decisions concerning a particular brand.
- Product Manager: Responsible for all the decisions around a group of similar product.
- Sales Manager: Responsible for controlling, training and motivating the salesforce and the sales back-up team. Sales managers often also have a role in credit control, since they are in the best position to know the individual customers and can give an opinion on the customer’s creditworthiness or (as a last resort) in the least damaging way to get the customer to pay up
- Sales person: Finds out what each customer needs, and tries to arrange for it to be delivered. Salespeople do this by selecting from the range of products in term of how they will meet the client’s need.
- Advertising Manager: Controls media purchases, deals with advertising agencies, generally handles the flow of information to the company’s customers and consumers.
- Public relations Manager: Monitors the company’s public image and applies corrective measures if the company is acquiring a bad reputation. Organises events and activities that will put the company in a good light, and tries to ensure that the company behaves responsibly towards its wider publics.
- Market research Manager: Collects evidence about what consumers really need, and what they would really like to buy. Sometimes this also includes monitoring competitors’s activity so that the company can take action early to counteract it.
Steve Job is a brilliant example of a Marketing Manager who not only makes the Iphone’s reputation which dominated the giants in the past like Nokia, Motorola, BlackBerry, but also makes new age of mobile phone with Apple Empire nowadays.
4. Why is Marketing Strategy Planning so important?
Strategy is about where we want to be (direction); decisions on tactics are about how we are going to get there (Method). Strategy decisions tend to be difficult to reverse. Tactical decisions are relatively easy to change.
Strategy is a goal and Tactics is the way to gain that goal.
So, what is Marketing Strategy Planning?
“Strategic marketing planning is the process that the operational and managerial staff of a company goes through to create and implement effective marketing strategies. Strategic marketing planning takes several aspects of company marketing and promotion into consideration. The aspects that contribute to strategic marketing planning include identifying promotional opportunities and evaluating the marketing opportunities; researching, analyzing and identifying the target markets; developing a strategic position for the company to pursue and how to implement the strategy preparation and implement the strategy; preparation and implementation off the marketing plan and measuring and evaluating the results of the marketing efforts of the company”
A company want to make revenue so they have to do Marketing Strategy Planning. Without it, they don’t know where they start in new business year. Without it, it doesn’t know how, when they implement tasks which are related to other departments in firms internally and partners externally.
Like travellers who fulfil their voyage they have to know what they had, where they want to go, what they need to prepare, when they start, how they will deal with certain things will happen in their trip or how they handle accidents they dont predict in advance. Without Strategy Planning they cannot make possible their plan.
5. What is the Marketing Mix?
Marketing mix is a business tool used in marketing and by marketers. Traditionally, Marketing mix includes 4P: Price, Product, Promotion and Place. In service field, not a physical good, it is expanded to 7P, Physical evidence, People and Process.
Product is what company produce
Place is where customers can buy product
Promotion is all methods of communication that provide information to different parties about the product such as: advertising, public relations, sales organization and sales promotion.
Price is the amount of money customers pay for. It makes profit’s company and survival
Product of Apple includes Mac (Macbook, Mac Laptop), ipod (Nano, touch, shuffle) , iphone (Iphone 2,3,4,5,5s,5c, 6), Ipad (Ipad 2,3, mini), accessories: mouse, keyboard..
Price: Skimming Pricing is pricing strategy of Iphone
Place: wholesaling, retailing, order processing, warehousing, inventory management, transportation
Promotion: Advertising: media, television, internet, PR, events, direct marketing
6. How to get the right customer
To get the right customer it means get segmentation. Including:
- Geographic. Where the consumers live, the climate, the topology. Most transport at Hanoi is Vespa, Lead but at mountainous areas is Waves, Dream.
- Psychographic. Based on the personality type of the individuals in the segment. Almost the rich in Hanoi want to show their financial ability, so that the advantage to develop Vespa chain store.
- Behavioural. This approach examines the benefits, usage situation, extent of use and loyalty. Young people who want to show their ego they want to own a Vespa, but mothers who need a big space to put their stuff, a Lead is their best choice
- Demographic. Concerned with the structure of the population in terms of ages, lifestyles, economic factors. People who live in Saigon don’t show their rich by motorbike like Hanoians, so the number of vespa in Saigon is less than in Hanoi.
7. What is the use of Marketing Research?
Market research is the process of collecting, analyzing and presenting useful information about consumers. What customer needs, wants and preferences.
Types of research that are carried out by marketers are as follows:
- Customer research: provides information about where customers live, what they do with their time, what their motivations are, what they like to spend money on and what their spending power is, and what the trends are in the market.
- Promotion research: measures the success of promotions in terms of their objectives. Aslo is useful for determining which media should be used.
- Product research: is used to identify new used for existing products, or to identify needs for new products. Product research is often used to refine the design of an existing product to produce an improved “Mark 2” version.
- Distribution research is finding the best channels of distribution for a product, oftent is overlaps with consumer research, since the location of retail outlets will dêpnd on where the target consumers love an on their habits.
- Sales research: is intended to help the sales management process by ensuring that territories are of equal size or value, that the techniques and approaches being used are effective, that the training of the salesforce is appropriate and surficient, and that the salesforce motivation is appropriate
- Marketing environment research: to ensure that the firm can anticipate environmental change and develop responses in advance
Marketing Research is sometimes used to describe all research carried out for the purpose of supporting marketing decisions.
Using Marketing Research in order to decide whether or not launching product, should change or not features of a product to adapt needs of customers or dominate market of competitors.
Through a Report of Marketing Research of Pizza Hut we know how they use tool to do a research such as a questionnaire to determine behaviour of customer like frequency of carryout, the percentage of Genders who pay money for Pizza, what service or selection customers like food quality, cleanliness, employee friendliness, menu, speed of service… based on that getting conclusions and recommendations to get better service and higher revenue.
- Enssentials of Marketing – Third Edition, Jim Blythe, University of Glamorgan.
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