Category: Marketing

Revitalizing existing products or services

The first way that businesses are using ethnography to spark innovation is by revitalizing an already existing product or service of the business to meet the varied needs of the customers.

The second way is by using ethnography to penetrate markets that hitherto they knew nothing about. This strategy studies the varied customer needs and collaborates them into the business.

Platform-definition centers

After embracing ethnography, Intel now uses platform-definition centers. It is necessary to understand the unique needs and desires of diverse cultures in any marketing strategy. The platform definition centers assist to identify and come up with products that suit the unique requirements of the local end-users. Adapting market strategies in each country gives rise to efficient products that sufficiently meets the needs of the local end-users.

Feature creep

Feature creep relates to the aspect of a product requires that surpasses its original design. This strategy is mostly practiced in the proliferation of computer software. In this case, the manufacturer settles on having additional features supplemented on the product before letting it go to ensure that it is more users friendly and pleasant to the intended market. Feature creep can also be incorporated into a product when the customer who needs the product keeps adding his or her specifications to the products design. This strategy can influence the expected cost of a product, complicate a product with unnecessary features, and interrupt its release to the target market. This strategy was tried at Intel when Genevieve Bell, an ethnographer, gave the opinion to have engineers recognize experiences to group different technologies. Escape rubric comprised of movies, games, and music, while the Life and Spirituality basket had health and wellness put into it.

Article summary

Ethnography is an elaborate research method that employs the use of different techniques to analyze various behavior, culture, and attitudes to come to terms with the various needs of the end-users and the way they decide to buy goods and services. An increasing number of business professionals hold it as a key marketing strategy and a better option to substitute the long time focus groups. In direct contrast to asking end-users to give their comments on different products or services while sitting in an office, ethnographic researchers, monitor individuals in secret or public places and ask them relevant questions in circumstances where they are found. An analysis of the report then takes place to discover end users motivations and interactions with the products. This allows businesses to reveal new market segments, spark innovation in their products, come up with more satisfying products, and design better strategies of marketing.

The article has three case studies that successfully employed ethnography to spark innovation into their system. The first one is Marriot Company that hired a team of researchers from IDEO inc. to look at ways of revitalizing their existing products and services. The research team succeeded in realizing this goal. The second case is about General Electric Co., who hired Jump Associates to look into ways that their new plastic-fiber business can effectively penetrate the market. The last case is about the Intel Company that needed to transform its culture to compete effectively in the market. Through employing ethnography, they discovered the need for collaboration with the consumers and understanding the role of culture in affecting consumer behavior.

SWOT Analysis of Red Bull

Strength

The Red Bull Company boasts of an integrated marketing strategy that shifts from traditional advertisements to conventional practical approaches that appeal mostly to generation Y. This segment of the population, comprising 16-29 year-olds, forms the largest share of Red Bulls market, which has enhanced the brands performance in the global market; the company has recorded impressive sales of over 4 billion cans of the popular energy drink.

Another strength that places Red Bull above its competitors is the uniqueness of its energy drink products, which are differentiated by high quality and energy boost capabilities. Indeed, ingredients in the companys brands are popular with consumers who equate them to liquid cocaine due to their ability to tremendously increase energy levels. Moreover, the company has introduced other several new products that have proved popular with the consumers over the years.

The company uses the slogan Red Bull with Wings to target the youth. In fact, this branding tends to be appealing to the egos of the youth, and it is the main reason why the brand has received a positive response from the market (Kotler & Keller 498). Indeed, the founder admits that consumers of the soft beverage have been attracted by the slogan.

Red Bull has embraced creativity as part of its marketing strategy. It engages opinion shapers and the community in different ways, which help it in identifying market gaps, hence employing practical strategies to reach the audience. Moreover, the company has supplied free drinks in major public and private events as well as sponsored different sports. All these efforts have increased the popularity of the soft drink to the extent of acquiring a significant and controlling market share in the soft drink market.

Weakness

Critics have faulted the soft drink company for failing to cut down on some of its expenses in a bid to remain relevant in the market. The founder has financed most of the Red Bulls expansion through accrued profits, which can be very risky in the event of slow operations. Diversifying the risks of the business through alternative capital sources would be ideal in shielding the firm, especially during hard economic times.

Another weakness at Red Bull is poor financial management capabilities. For instance, the financing of the Red Bull Soccer Stadium at the exorbitant cost of 220 million sterling pounds was not ideal for the soft drink company. Debate on the rationale of such undertaking at the expense of promoting business expansion was intense since that happened when the companys profit could not sustain the move.

Red Bull has always employed an anti-marketing strategy that seeks to differentiate it from other players. This may be beneficial in the short-run, but there is a need to keep up with the trends in business marketing. The independent marketing culture is faulted for not integrating the overall communication and marketing strategy.

Opportunities

The seeding initiative targets modern shops, bars and entertainments sports and has been a successful strategy to establish Red Bulls brand in the market. The idea has been to reach a ready segment market that is prepared to accept the brand, which is popular with the youths. Later they would target gymnastics and food outlets. The target market comprises the biggest number of consumers of soft drink. Indeed, the strategy to identify with their unique needs was timely. Red Bull identifies that this age group forms the bulk of the global youth and embarks on campaigns to target the generation Y group by appealing to their taste (Kotler & Keller 498).

Through the adoption of the counter-marketing strategy, the company is able to successfully connect with the youth who are viewed as outgoing and with changing needs. Subsequently, promoting the product as a cult drink makes it popular with the young population.

The promo campaigns targeting colleges and learning institutions consider them ideal grounds for reaching the right consumers. By concentrating on these places and issuing free products as samples during visits, Red Bulls drinks have become popular with youths in learning institutions (Rosenberg 47).

Sponsorship of major sports such as the F1 circuit, athletics, football, and aerobics makes Red Bulls drinks popular (Rosenberg 47). Consumers are able to associate it with agility in sports performance since major contestants sponsored by this popular drink are distinguished sportsmen. The adrenaline rush associated with the drink is said to boost endurance in extreme sporting events, a theory that increases sales revenues from the brand. Nevertheless, the social media offers a new opportunity for business growth, and it can be exploited to target the generation Y audience who identify mostly with the platform (Fromm & Garton 30-32).

Threats

Competition from other soft drink companies like Coca-cola, Pepsi, and Monster is one of the major challenges that Red Bull needs to recognize and work upon in order to remain one of the leaders in the soft drink market (Rosenberg 47). Coca-cola has been a dominant player in the beverage market and has continued to launch new products time after time. Therefore, Red Bull has to increase its innovation strategies in marketing in order to keep abreast with the competition.

Concerns over the safety of the soft drinks have been contested. Recently, the Food Drug Administration proposed the possibility of limiting the sale of Red Bull Energy drink to children and young people, an action that tends to threaten its penetration and sustainability in the market.

The engagement need requires offering value to consumers; this is often a daunting task and entails additional input. Since Red Bull specializes in the traditional method of advertisement, it faces challenges in meeting the demands of the ever-changing consumer needs. This fact is complicated by the reality that people would always want to judge what they are introduced to first, which calls for the need to be innovative. Moreover, engagement requires the company to prove the suitability of product upfront.

Red Bulls greatest Strength compared to other companies in the industry

While reporting on the success of Red Bull, Forbes recognizes the effort of the company launching new products in the market, which has slowly achieved much progress (Hamm par 1). Freedom to undertake new strategies has promoted an independent culture, vibrant marketing, and communication strategies, which have been consistent since its inception. Moreover, efforts to retain employees and implement creative strategies applaud its strong corporate culture.

Red Bull encourages innovation, which has seen it attract some of the best brains in its workforce. It offers an opportunity for employees creativity and allows own initiative in promoting its brand. For instance, the former pilot-turned CEO is credited for the success of penetrating the soft drink market segment in London by promoting the brand, Sol. He further implemented a creative strategy of supply that immensely boosted sales (Forbes, par 13).

Concerns over Red Bull Traditional Marketing

Fromm & Garton explain that people in generation Y recognize the fact that marketers usually target them; thus, there is need to tailor-make advertisement messages to suit their needs (30). These messages should be appealing and taking into consideration their education level, values and different stages of their life. The youth audience usually has independent choices, and usually makes choices that appeal to its needs separate from other groups. Perhaps, this could be the reason why Red Bull has adopted an anti-marketing strategy to appeal to the unique needs of this group.

Red Bull should balance between traditional marketing and conventional marketing by embracing other forms of marketing. For instance, it would be ideal for testing internet marketing that appeals more to the young population. Most young people have embraced the social media platform; through the internet, the community can be used to reach a wider segment of the youth population (Kotler & Keller 498).

It is important to keep pace with business trends. The Coca-Cola Company, which is a rival company in the beverage market, spends millions in media advertisement. As a result, the company has managed to penetrate in almost every part of the global market, thus acquiring a huge market share in soft drink market. Probably, a shift of practice to embrace media, billboard, and other forms of advertisement would popularize the Red Bull brand.

Non-traditional marketing, which focuses on engagement, has an advantage of offering what consumers want as opposed to advertisement that suits the needs of the business. It is credited for cultivating contact with the consumers, since it engages the audience and in return promotes goodwill, autonomy, and trust. Nevertheless, there is need to depart from advertisement to engaging consumers in a more emotional connection.

Traditional advertisement has been criticized for influencing the choices of consumers just as practiced by Red Bull, who specializes in grass root marketing. The landscape in marketing has changed with the emergence of internet, which gives consumers an edge to exercise autonomy in their own hands. Critics claim that, traditional marketing is blatant and manipulates buyers, giving them little control of choice.

It is viewed as one leaning on one side and only delivers message to the recipient without any emotional connection. Organizations are challenged to use varied ways to expose themselves to potential clients in order to ensure they attract more business. However, the drawbacks of extending the scope of marketing include the exorbitant cost charged and the fact that people would always want to filter what appeals to them.

Traditional marketing is faulted for concentrating on implementing strategies at the expenses of research. It is important to furnish the gap in meeting customer needs to appeal more to their taste. Therefore, internet marketing is a solution to this problem, since it offers more engagement with the audience, hence capturing things that the consumers value most when making purchase decisions.

Effectiveness of Red Bull Marketing

The CEO, Dietrich Mateschiz, points to the period 2012 sport stunt event that was pulled by a professional aerobic player who became the winner of a Red Bull extreme sport sponsorship event. The company has since associated itself with promotion of such sports. This has been one of the biggest secrets behind the success of the energy drink (Rosenberg 47). Sports are usually associated with aggressiveness and when a product uses the banner of successful sports person in its promotion, consumers are led to believe that the product boosts performance. During product launch of the drink, the founder shared benefits of the drink by adding that it has a positive effect to the body and mind, thereby passing as a health product.

One important aspect to note is that Red Bull has a market distribution in more than 65 countries. The success involves an elaborate plan that spans years and seeks to boost brand image by targeting lower segment market base. The brand has since become a lifestyle product and is notable in the global market. Its success is credited with elaborate communication efforts and a vibrant corporate culture.

It can be argued that the strategy to throw a big budget through sponsorship deals tends to be viable in the long run. The wide market requires aggressive marketing strategies that have seen the company eventually becoming a notable player in the beverage industry as shared by the founder when he addressed the Economist in 2002. He admitted that the plan to target the audience lifestyle by making the brand available to them sells (Rosenberg 47).

Red Bulls marketing can be argued as a positive venture in the light of a successful marketing strategy. Every company seeks to spend more in advertisement with a view of attracting more business and establishing itself in the market despite intense competition from companies producing substitute brands. The soft drink market is one of the most competitive markets, and to remain relevant, companies need to employ an efficient marketing strategy.

This should be guided by the companys portfolio. Coca-cola, a leading player in the soft drink and non-alcoholic beverages, is justified in spending more in marketing, since it is well established in the market and it makes huge profits when compared to its closest rivals.

Red Bull has been in the market for 25 years and has come up very strongly to share a sizeable fraction of the lucrative soft drink market. The success is impressive; however, some of its marketing and sponsorship deals have been questioned. A case in point is the 220 million pounds Red Bull stadium sponsorship deals that took a huge chunk of its budget. This might be argued as a noble venture; however, for business growth, it may not be a healthy move as such funds could have been used in other viable investments that could contribute directly to profits in the company. The sponsorship deals on sports, especially athletics, can be considered important to promote the brand; however, they take a sizeable share of the companys budget that in turn may affect business operations.

Therefore, there is need to limit sponsorship in sporting events to allow for lean operations (Forbes par 6). Nevertheless, success in the market would be realized by effective and efficient marketing strategies that would put the company in a favorable position when compared to rival companies. Having the interests of customers in mind would enable the company to differentiate its products to an extent that it would be costly and difficult for competitors to imitate; such a move would not only attract more customers, but also maintain a large number of loyal customers.

Works Cited

Fromm, Jeff & Christie Garton. Marketing to Millennials: Reach the Largest and Most Influential Generation of Consumers Ever. NY: AMACOM Div American Mgmt Assn, 2013. Print.

Hamm, Harold. The wind Behind Red Bulls Wing Forbes. 2012. Web.

Rosenberg, Marjorie. Business Advantage Intermediate Personal Study Book. Cambridge: Cambridge University Press, 2012. Print.

Kotler, Philip & Kevin Keller. Marketing Management. NJ: Prentice Hall, 2011. Print.

Introduction

Marks and Spencer is one of the most famous brands around the world, with its headquarters being in London  the retailer is counted amongst the most reliable and the most prestigious brand across the globe. This is originally a British brand; but has shops in around more than 30 countries. In total, it has approximately 840 outlets, with 600 being domestic and 285 being international. According to 2008 statistics, it is ranked 43^rd largest retailer of the world. Marks and Spencer is not just an accessory retailer, it also has food retailer outlets.

Their set up is such that they the food is sold within the clothing stores; that also increases sales because the hungry customers who get tired after shopping so much do not mind sitting down and grabbing a bite. Recently, it diverged into chains of household goods, furniture and technological items. Marks and Spencer sells different lines of goods  in clothing, it is further divided into men-wear, women-wear, kids-wear, wine, technology, per-una, food and homeware. Marks and Spencer further defines its brand by naming various lines, for example, St. Michaels. St. Michaels, however, was discontinued and Optima came up as the face of Marks and Spencer.

Marks and Spencer works really hard on its marketing and establishing its brand  it did very long for this to happen and the brand to become stable. But it was not only the quality of the goods that made this possible; proper marketing strategies were used by them to make sure that the market share was being captured smartly.

Integrated Marketing Communication

Integrated Marketing Communication is a marketing phenomenon which basically focuses on a consistent message from the brand to the customers. To be elaborative, the marketing department here tries to make sure that all the marketing mediums that are used generally to reach to the audience all are aligned and following one path with a basic and core message that is the same. Meaning, that whatever medium one is using to reach the audience, should come across to be delivering one core message (Kotabe and Kristiaan; 2004).

Integrated Marketing Communication is a concept that states that whatever information provided through various mediums to the customers or potential customers should be consistent and relevant to them. In order to make sure that the message is consistent, the brand needs to coordinate and integrate its various communication channels so that resultant message put across to the customers is the same through all channels.

Integrated marketing communication involves identifying the target audience and shaping a well-coordinated communication program to obtain the desired audience response. Today marketers are moving towards viewing communication as managing the customer relationship overtime, therefore it is very important that the message is carefully integrated and it coordinates the companys many communication channels to deliver a clear, consistent and compelling message about the organization and its products.

This is a recent marketing concept with a wide range approach and because it makes so much sense, it was widely acclaimed. The marketing strategy is formed by keeping the marketing mix in mind: the mix includes the 4 Ps of marketing that one needs to consider in order to promote the product well; Place, Product, Price and Promotion. The reason for this is that integrated marketing communication is not just a promotional concept; its part of the entire marketing plan. The reason is that it works by collaborating all marketing tools and coming together as a stronger and maximized affect on the customer (Bitner, 1995).

Promotion, that is part of the marketing mix and the most connected to marketing, includes general advertisement and popularity of the product by TV ads, billboards, internet ads, print ads etc. Although, it further deepens down into Above the Line and Below the Line. So this does not only advertisement, it includes personal selling, sales promotions, discounts, direct marketing and even public relations. All these mediums are then to be connected and aligned in order to make a good integrated marketing communication scheme (Christ, 2008).

Analysis of Marks and Spencers Integrated Marketing Communication

Whatever marketing campaign Marks and Spencer has launched; it has always paid emphasis on the value of the customers money and what they offer to their customers should be worth its value. Their tagline was Quality worth every penny  this shows that they believe in believe high quality goods and providing customers with what they deserve. Also they mean to show that they are very fair and just by not taking undue money from the customers and believe in offering to the customers what they promise.

This idea makes a lot of sense and was a smart move because in the consumerist world of today, the customers are the king. Without them, the organization really does not stand anywhere. Customer satisfaction is the top most priority of every organization  if Marks and Spencer does not provide the customers with the value that they promise to, the customer will lose their trust in the brand and stop buying it. Customer value is seen as one of the most important things  unless the customer sees the value in a product, they would not want to buy it.

There has to be a competitive edge and something unique that the customer is getting. Also, producers need to make sure that the customer expectation is either met exactly or surpassed the level; or else, a disgruntled customer can be a major drawback. Expectation is the perceived value of the goods that the customer has; customer centered companies try to measure that but their own judgement and then work upon it to deliver well.

This brings us to the value proposition  this is how we differentiate our product and how we position it in the heads of the customers. This is the part where we can create our edge in. the companies that look for a value proposition and give it too much importance, are those that are customer centered. Therefore, Marks and Spencers also tried to gain the customer trust by an attractive and customer centered tagline quality worth every penny.

This campaign was launched at the 125^th anniversary of Marks and Spencers. It is important for companies to launch campaigns on such huge birthdays of the brand and bringing the fact that the company is really old and experienced in notice of the customers. The reason for this is that the longer a brand has been in the market and successful more so, people trust it more because of such a long history of serving its customers.

Also, another reason for this general statement which was simple and very straightforward was because this anniversary was a huge deal for the entire brand and thus, they wanted all the lines and chains (food and clothing) to be united on this occasion and come across under the banner of the same brand. Thus, the statement was very general and relevant to both lines.

This time, all the mediums were concentrating on the 125^th anniversary concept  the store was decorated accordingly, the ads on TV mentioned the fact that the 125^th anniversary is up and they have been providing quality worth every penny since then.

Their slogan/tagline was also changed to this one and all the mediums were putting across the same message. Also, their products were packaged slightly like that; they had shoppers that mentioned the 125^th anniversary. They made it into a huge event and their look changed for a long enough time that was enough to promote their birthday and proving that they have been providing quality since a long time. This campaign was a good example of integrated marketing communication  all the tools and mediums were putting across the same quality worth every penny since 125 years message. It was also very nicely done and the campaign was well-appreciated.

Another one of their campaigns was about doing the right thing; this is about Marks and Spencer trying to fulfill its duty for the society by planning its corporate social responsibility campaign.

Corporate social responsibility is not exactly a new concept but recently, it has emerged greatly (Czepiel, 1990). This is about a corporate organization which is very business minded to pay back to the society what they took from in forms of negative and positive externalities. Companies usually do this to form a good image in front of the customers and to prove to them that they also care about the society and the customers well being. To fulfill this criterion and to make the customers understand that Marks and Spencer also is not just a profit oriented organization, they launched this corporate social responsibility campaign.

However, speaking very practically, the only purpose was to advertise, give a boost to the corporate image and to gain the sympathy of the consumers and get into their good books. This campaign was also integrated with the future plans of Marks and Spencer which makes the marketing communication even more strong because even their plans and future promotion campaigns are based on the same concept of ethics, corporate social responsibility and providing the customers with the right thing. The change plan that Marks and Spencer has for 2020 is what is being integrated to put emphasis on ethics.

They connect this behavior to ethics and believe that in doing so they are respecting the business ethics and also the ethics of the society. Considering the tools of marketing, this time all the tools were not very well integrated. This campaign was generally very successful but if we talk about integrated marketing, then it was not very smartly done. The products did not reflect anything related to the society good; the TV ads were only focused on the product but nothing about social responsibility.

The only two things that were integreated was the slogan doing the right thing and the change plan that was being formulated. The good for society bit did not reflect a lot in the stores or the TV ads etc. The proper tool for this campaign would have been public relations; this is so because such messages if delivered by conversation between the public and the company representative directly in an address and speech sound much more real and authentic.

Passing statements to the press is not as effective as holding a seminar or something that induces direct conversation with the public. But, Marks and Spencer did not pay a lot of attention to that and not a lot of focus was given to this tool. Also, this was not launched worldwide; it only began from the UK and took very long for it to reach the other countries. The success of that is unknown.

In conclusion, we can say that Marks and Spencer does understand the concept of integrated marketing communication but it still needs to make sure his concept is applied in all their campaigns because it really helps in putting across a stronger message. This is so because if the customer is hearing the same thing from all mediums, the message fits into ones head better and deeper. They did apply this concept in one of their campaigns, but if they do that with all campaigns, their marketing can be even better (Wernick, 1991).

Marketing Campaign of a Product of Marks and Spencer

Marketing strategy is the course of action to follow to market the product in the market; it determines how to use the companys resources and to divert them in a direction that results in maximum consumer satisfaction, leading to an increase in sales. It is the strategic planning that decides upon the target market, market segmentation, positioning and even the marketing mix and other key decisions.

Marketing is a phenomenon that is very well planned, strategized and formulated. The success depends on the implementation of the ideas. This step by step development of the marketing plan includes a marketing mix step. Marketing mix is the blend of a few factors that merge together to form the perfect tool with which one can aim its target market. This mix includes: place, product, price and promotion. Product means the marketing offering, whether goods or services, that one is selling.

Price is the cost of ones good or service at which it is being sold to the consumers. Place accounts for the location of the sale; the geographical setting and site. Lastly, promotion is the medium of advertisement that the producer uses to promote his product to the market; they can be point of sales marketing, direct marketing, above the line or below the line marketing etc. When all four of these are given equal attention to and made to fit perfectly in accordance with the kind of market that the producer is targeting, the product is sure to sell out really quickly (Varey, 2002).

There are several tools of promotion; this includes direct marketing, advertising, personal selling, sales promotion and public relations. When all these four tools are used together in appropriate ratios, or a mix of these are used to promote a product, it is called a promotional mix. The mix is chosen and the tools are picked according to the product that the company is selling and whatever that is the most appropriate according to the situation is then chosen.

Advertisement is the form of promotion that involved indirect communication between the customer and the organization and is very direct; this includes TV ads, print ads, billboard ads, magazines, internet, radio etc. There are three kinds of advertisements; informational, reminder or persuasive. Informational just has information in the ad; simple facts are communicated to the customers and they are left alone to make the decisions based on that.

Advertising is done using an identified sponsor using a non-personal medium or presentation of a concept, product or service. Advertising is of two sorts  above the line and below the line. Above the line is such that it can be easily seen and is very much exposed to the customers. Simply put, the promotion that is done through mass media such as television, radio, internet is above the line; the customers are indifferent to it and a large audience is being targeted at the same time instead of particularly a segment.

The products that I have chosen to market are the furniture care products. These include: furniture polish, furniture wipes, lavender furniture cream, lavender furniture polish, multi surface polish, naturally derived furniture wipes etc.

Reminder is for brands that are already well established and needs no advertisement or messages to be put across; for example, coke is such a strong brand and the customers do not need to be reminded that coke is a beverage etc. Lastly, persuasive; these ads are very strategic and are used to convince the customers that this is the brand that is needed by them and to instill the idea of feeling the need to buy the product. Comparative advertisement is used when the brands are aggressively competing and marketing against each other. The approach that I will be using is the informational approach (Kotler, 1996).

Advertisement has various tools that the companies use  these are called the appeals; advertisement can be used to target the audience in mainly 2 appeals; rational or emotional. If a brand forms an emotional attachment through the advertisement with the customer, then the relation and the loyalty of the customer is very strong. The feeling or reliability and trust plus credibility then come in. Rational, as the name suggests, is very sensible  if the customer feels that he/she needs the product to fulfill a requirement, then they purchase it. The appeal that I have chosen for this advertisement campaign is rational; the customers should buy what they see and what works for them.

There are several ways in which a message from an advertisement can be executed. These execution styles are: slice of life (connecting the product to everyday life and how it is of use), musical (forming a jingle or song around it), moody (show different moods and emotions), testimonial (use the endorsement of happy users to make the future customers believe its credibility), scientific evidence (showing the features and the efficiency of the technical details of the product) and lastly, and the most widely used is the celebrity endorsement (taking a celebrity in the ads). The style of execution that I have chosen is the scientific evidence and celebrity endorsement.

The kind of product that we are advertising is produced using various chemicals which can either ruin your furniture or can make it amazingly beautiful. People who understand the entire furniture technicalities are interested in knowing how the product is made and they also have a sense of what chemicals are good and what are not; thus, disclosing the ingredients used is a good idea. It is true that those who do not know anything about such material will be confused, but our target market is not those people. We are mostly selling this product to people who are either furniture designers or own furniture shops.

However, this may just cut down on a lot of customers who are not aware of technical details but still want their furniture to be maintained and have a longer life. Therefore, with the scientific evidence, we can use celebrities to endorse the product so that it can be much more relatable for them.

Since Marks and Spencer is present in around 30 countries and every country has a different culture, depending upon which people like to choose their furniture. Therefore, it is evident that furniture designers and interior decorators for each region are different. Therefore, although the advertisement campaign will have the same scientific information throughout the globe, the celebrity endorsement will be different for all countries depending on the popular furniture designer of that region (Kilbourne, 2000).

The advertisement mediums that will be used are: television (with frequency of the ads increasing during the household shows such as interior décor, cooking shows where our target audience is usually in concentration), magazine ads (especially, home décor magazines), newspaper ads, internet ads (especially on websites related to furniture and home décor) and also billboard ads.

Although, exhibitions are not part of advertisement as it is a direct medium (Bove and Johnson; 2000), but it is suggested that if an entire campaign is being run for these products, then exhibitions can be held at furniture stores. These exhibitions would mean that Marks and Spencer representative will demonstrate the usage and results of usage of these products. This will enable the customers to see the direct result of the products and will increase the credibility.

Planning is of no use if the implementation is not strong enough. Plans can be awesome but if they are not implemented properly, everything can turn into a mess and the product that is being advertised can bring in loss instead of profits. Therefore, implementation should be worked upon and if it is systematically executed, then this advertising campaign can surely be successful and earn a fortune for Mark and Spencer.

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Nokia, a leading mobile manufacturing company is offering more that 25 different models of mobile handsets to its varied categories of customers (Mooij, 2010). This is strategically meant to meet specific needs of each group of customers. Since not everyone can be fully satisfied with homogenous or same products, groups must be identified for effective marketing. These groups must share similarities in terms of needs. In other words, Nokia has applied a marketing strategy known as market segmentation (Mooij, 2010). A typical market segment would have somewhat similar traits in demand for the product, buying behavior, buying power, and many more characteristics (Hunt & Madhavaram, 2006). Basically, it must be noted that segmentation is always concerned with customers and markets, and not products.

For the available markets segments, Nokia has used two main categories of segmentation criteria; that is consumer characteristics -related and consumer response-related criteria. Once a specific number of customers in a market segment have been identified to share common characteristics, they are grouped into a homogenous group of people with more or less similar demand category as per their cultural orientation (Hunt & Madhavaram, 2006). Other factors that they have applied in deciding the market strategies are; psychological, personal taste, and of course the attitude of individual group towards the Nokia innovations.

Theoretically, Nokias marketing strategy is based on the Research-Advantage theory. This theory sees intra-industry demand as significantly heterogeneous with respect of consumer taste and preferences (Mooij, 2010, p.74). It therefore follows that products are viewed as bundles with certain attributes targeting specific different market segments of same industry (Kamran, 2009). This paper analyzes marketing strategies that have been applied by mobile giant company, Nokia to meet their overall business strategy.

Nokias Use of information in Marketing

Marketing essence is hinged on the ability of a company to acquire adequate information about customers (Hunt & Madhavaram, 2006). This is because ability to identify and satisfy the needs of the clients is based on the proper information acquisition. It therefore follows that for the marketing managers to get the needed details of customer taste and demands, and competitors, a proper data is needed that will follow with thorough analysis to ensure accurate information is established for the successive marketing strategies. Nokia slogan of connecting people to each other is linked to the information that they deem fit for their marketing goal. This information helps them to redesign and support the innovation of new products suited for their specific market segment rather than general approach.

Once they have segmented their markets, Nokia targets one or many of the markets in order to respond in a better way to their customers needs, notably with an aim of optimizing resource usage. In this manner, they engage in regular information search to ensure customer feedback is treated with care in their next innovation process. Since the company boasts a strong innovative team, they identify the most innovative receptive customers who are able to convince other customers in the value of their specific product (Kamran, 2009, p.111). It must be noted that Nokia is in an industry that has quite short life cycle; hence the need to develop its products faster requires precise information from potential clients, usually a specific limited number of customers. They therefore take into consideration the resources they would need to respond to the market demand and at the same time keeping tabs with the emerging new technologies within the industry.

Marketing Strategy and the Overall Organizational Strategy

Global mobile market is driven by customer as the force (Hunt & Madhavaram, 2006). That is, innovations and products improvements wholly rely on a specific market boundary. The overall organizational strategy of Nokia is to expand their customer base through helping people fell close to each other and especially to those who they regard dearly; increase growth of new products for wide market segments, and spearheads transformation and building of new businesses. Nokia organizational strategy is based on the business model of being the best mobile devices regardless of the price and geographical location, provide extensive internet solutions on the mobile devices, and enter into the markets by providing business mobility solutions to the corporate users (Kamran, 2009, p.113). They have consequently identified specific areas to meet their overall organizational strategy by concentrating on some specific strategies. Business Solutions; in their quest to find solutions to business strategies within their corporate section of the market, they have applied Innovative Business mobility technique (Kamran, 2009). The firm has taken advantage of its long held reputation as having a stable platform that assist in the production of very stable mobile phones fit for corporate use. They have reinforced this notion through their merger with Siemens, which spearheaded the introduction of new Nokia phones to carter for corporate clients needs. Mobile internet services have been adopted by Nokia. They engage in innovative ways of providing internet services to their customers through their operating systems, particularly to the high end user phones.

Generally, to meet the overall strategy, Nokia has adopted an analysis criteria and process that helps it understand the market by following five steps i.e.: developing culture of selecting a segmented criteria through the help of market information acquired; defining the segments; evaluating the business value to fit their profit motive and future expansion; selecting a particular number of segments to work with; and finally choosing of the position and marketing mix for each of its mobile products in each segment (Kamran, 2009).

Marketing Planning in the Global Context

To penetrate a global market, the generic product will depend on the national wealth in the economically heterogeneous aspects as well as cultural factors depicted by economic homogeneity (Hunt & Madhavaram, 2006). The global mobile market is highly saturated, with mobile companies from Japan, offering stiff competition to Nokia. In their global marketing plan, Nokia has approached marketing strategies by increasing and emphasizing on efficiency, without compromising on the strategy of localization of marketing efforts on separate and specific countries or regions. Nokia had introduced mobile phones with standardized international advertising, by its claim of Connecting People, a generic attribute to mobile communication to reflect the primary goal of human communication. However, they did not fail to recognize the heterogeneity of many global cultures, thus the market segmentation in terms of communication their generic slogan. The mobile phone producer adapted their product and advertising in relation to language of the specific regions or countries. They used messages such as, you have information under your control to reflect and invoke the feelings of specific markets (Kamran, 2009, p. 109).

While they are considered to be everywhere, mobile phones market penetration rate is still below par as far as some countries in the emerging economies are concerned. To carter for the global market, the company has incorporated a strategy to manufacture low end user phones, mainly targeting the less developed countries with limited mobile penetration. They have maintained strong focus on the innovation and development of new products to suit all the segment of the market.

E-business in Nokia Marketing Strategy

In an attempt to increase and accelerate mobile advertising, Nokia has adopted an e-business approach through its global market reach. For example, the company recently acquired Enpocket, a company that deals in the creation and delivery of target brands in advertising services through mobile to its customers (Mooij, 2010). Through this, Nokia has identified the companys Boston headquarters as the center for its mobile ads activities. Notably, Enpocket has managed to create mobile ads for global companies like Pepsi, where they managed to target specific market segments of mobile phone holders. This is a strategy that will ensure they handle the increasing demand for mobile advertisement through internet services or short messaging techniques. They are also moving from being just mobile manufacturers to service industry, to increase their market presence globally. The other e-business is through its own created OVI that is meant to manage internet services in its global business line.

Although internet marketing is yet to reach its peak, Nokia has approached it with a lot of vigor and is expecting to be the market leader in this promising market segment. The market leader is seen as the next big thing as it will be in high demand from marketers who want to reach specific market segment at specific locations. The GPS-enabled phones are its perfect example of phones that can be used to target specific people in specific regions for marketing strategy advancement. As far as analysts are concerned, there is a promising lucrative market for mobile marketing, giving a boost to e-businesses around the globe.

Reference

Hunt, D., & Madhavaram, S. (2006), Teaching Marketing Strategy: Using Resource-Advantage Theory as an Integrative Theoretical Foundation. Journal of Marketing Education, Vol.28 No.2, 93-105.

Kamran, M.Y. (2009), Organizational Behavior: Thought Exercise 3-Strategy. New York. Wiley Publishers.

Mooij, M. (2010), Global Marketing and Advertising: Understanding Cultural Paradoxes. London. Sage Publishers.

Distribution

The place is the vital aspect in the marketing mix, it is the final launch of the product in the market, and the customers are the end results in the marketing process. The distribution channels are the interconnections or the series of the network which bind the manufacturer with the consumers accompanied by the distributors, wholesalers, and retailers.

The choice of the distribution channel varies depending on the product in the market and the promotion tactics related to the product. The distribution channel can be said to as an intermediary in the marketing process and the plan of the same. After all, using intermediaries means giving up some control over how products are sold and who they are sold to. Intermediaries are specialists in selling. They have the contacts, experience, and scale of operation which means that greater sales can be achieved than if the producing business tried to run a sales operation itself (Distribution-Introduction: The nature of distribution channels, n.d, para,5).

Channels of distribution

The product will be distributed through the retailers to the customers in the market, the retailers will be selected depending on the specific criteria relating to the product and the specific features. The location of the product will be present in almost all the metropolitan cities and the towns and also the very next plan is to extend the product to the inner side of the towns and to make all the services available in a separate roof and to make the product much familiar to the people and to increase the publicity.

The timing of the product will be fixed at the regular intervals from the manufacturing time, the time taken for the reach of the product from the manufacturing division to the retailers and to the customers are within a very short span, a time limit of minutes. The availability of the product is the major issue that needs to be considered much deeply and the absence of the product paves the way for the substitute product. The product finds itself in the much-reputed market stores and makes the availability, efficiency in performance, and success in the market.

The location is a constraint that contributes to the success of the product as the product are made available in the major cities and towns the issues of them are settled to a greater extend. The use of the agents is impressive, they act as the catalyst in smoothing the marketing process and achieving success in the market.

The various services included for the customer service and the purchase of the product are splendid, the customers are at the liberty to order the product through mail, telephone and fax, the home delivery system and the online payment system are provided to them and the feedback from them is also welcome. A 24/7 service for the customer query is also available which paves an excellent method for the customer to keep in touch.

Variations in distribution

There will be several variations in distribution that require the use of selling experts, together with transportation and storage groups, wholesalers, and dealers. There must be a proper scheme for the present distribution of the product as well as the future. There should be proper consideration of the distribution of the place. A customer would like to buy the product at a place suitable for him to purchase and reach the destination with the original quality of the product. The customer does not like to go far to buy a simple product. This distribution variation will have a major effect on the target market. It should be properly planned also. The critical place questions are: How much exposure do we want? And how shall we go about getting it? The marketing manager must develop place policies to answer these questions. It is his job to see that the right product reaches the right place (Marketing Management, 2010, para.5).

The product quality, targeted consumers advance to that item, their eagerness to purchase the product, the total rate of overhaul preferred, are some of the factors which will affect the distribution. The distribution variation will be mainly followed by the interaction of consumer behavior and the character of the product. The distribution variation is affected by different types of customers in the target market. The wider distributions at low costs are preferred by most of the companies and shoppers can reach more outlets. The materials, safeguarding, maintenance, working provisions, and good services are required in the distribution of the product to the target market. The distribution should be with the level of market disclosure and the sort of distribution channels in the intended market. The variation in the distribution is targeted to reach as many customers as possible. Each of the customers needs different kinds of promotional tactics and selling blends. This will assist to achieve and convene the exact category of clients and can deal out the product according to the customers. Common segmentation schemes are based on demographic or behavioral data. While these forms of segmentation are useful, they rarely provide the type of breakthrough insight that lead to innovative new consumer solutions or business models (Customer needs & segment analysis, n.d, para.3).

These effective variations in distribution ultimately target to increase the purchaser fulfillment, price competence and will lead the competitive improvement.

Reference List

Customer needs & segment analysis. (n.d.). Alliance Consulting Group. Web.

Distribution-Introduction: The nature of distribution channels. (n.d.). Tutor2u. Web.

Marketing Management. (2010). Managerial Marketing. Web.

The product chosen for marketing

Shell is a multi-national British-Dutch oil and gas company. The company is one of the biggest companies in the world, being on the top of the chart as one of the richest businesses in the world. The company primarily positions itself as a dealer in oil and gas, being involved in its production, advertisements, marketing, refinement, and transportation. Their product line is varied and impressive, including gasoline, diesel, aviation fuel, marine fuel, lubricants, and other types of fuel. For the purpose of this paper, a deeper look into their gasoline sales will be made.

As seen in their ads, the company primarily promotes a combination of efficiency and convenience as its main benefits to the consumer.

The personal connection to the product

Personally, my family has often been using Shell products as their choice of gasoline for transportation and has seen the development and expansion of the company throughout the years.

The logo for the company

The logo of the company looks like a graphic representation of a seashell. The logo is easily recognizable and bright, having a contrasting combination of colors to make the logo visible from a distance. I think that the current logo is too iconic to change and also sufficient for recognizing the company.

The issues with the logo

While I think that the present logo is sufficient in its presentation and message, changes to it would also be welcome. I think that connecting the logo with the main products of the company: oil and gas, would be more effective. I think putting a representation of black oil on the shell or near it would be better for stating the purpose of the business.

Buyers of the product

The company is popular and prominent both among average consumers and big transportation and travel corporations. Research shows that Shell is the 9^th most popular gas and tire brand among consumers (YouGov). Most importantly, the brand is largely favored by the baby boomer population, especially women (YouGov). Overall, the opinions about the company are mixed while leaning towards a positive perception.

Marketing of the product

Their marketing strategy is simple and effective. Print advertisements are used to better connect with audiences and see the brand as a relatable entity worthy of support.

The company emphasizes its quality, reliability, and understanding through the use of personal language. Adverts try to address the issues a common consumer faces while also providing a solution to them. The companys own website shares its desire to keep its place on the market and continually provide high-quality services to the public (Our strategy).

The products declining success

During the recent pandemic, the company suffered a major financial loss due to a drop in the prices of oil and gas. Massive write-offs and a hasty attempt to adjust are the companys current response to the events.

The benefits that the product brings to people

The companys products allow me and my family to use personal methods of transportation, bringing great convenience and mobility into our lives. Without the use of fuel, commuting to work, traveling, or simply moving from place to place would not be possible.

The problem occurring with the product

The main problem is the declining public support for Shells work and its products. The concerns of the public are mainly aimed at the environmental danger the company presents, as well as the variety of oil spills it was responsible for throughout the years (Ambrose). As society becomes more environmentally conscious and shifts to the use of other types of fuel, the global support of Shell is declining.

Locations where the product is sold

The product is sold to a variety of markets and demographics around the world. I think that changing the core audience for the products will be ineffective, and managing the companys image and reputation is much more important.

Improving marketing of the product

I think that I would change the marketing strategy to focus on the environmentally friendly activities the company is performing, showing the public that Shell shares their concerns and values and understands their reservations about using oil and gas products.

References

Ambrose, Jillian. Shell Reports $18bn Loss as Global Oil and Gas Prices Collapse. The Guardian. Guardian News and Media, 2020. Web.

Our Strategy. Shell Global. 2021. Web.

YouGov. Shell Popularity & Fame. YouGov. 2021. Web.

Companies should develop superior models to ensure that their products are available to more customers. Firms that fail to design proper marketing strategies will find it hard to achieve their aims. This paper describes how my company will launch a new innovative idea and implement it successfully.

Innovative Idea

The intended innovative idea revolves around the recycling of mobile phones and marketing them to different customers. Giant corporations such as Samsung, Apple, and Nokia have been innovating and manufacturing phones that meet the needs of many users across the globe. This kind of model has resulted in the dumping and overproduction of mobile devices that are no longer in use (Juarez 118). My idea is to collect, repair, and ensure that such phones are available to every customer.

Segmentation Strategy

The success of this idea will depend on the segmentation strategy put in place. The approach will focus on these two aspects: demographics and geographic regions (orak and `najder 53). In terms of demographics, adults who have adequate education will be targeted. The second aspect is that of income. Individuals who earn low wages and salaries will be identified. These two demographic groups will purchase the targeted phones and make the company profitable. It is agreeable that such individuals belonging to these segments appreciate the issue of environmental conservation (Zeriti et al. 53). The marketing approach also meets the financial needs of these customers.

Targeting Strategy

The most appropriate initiative for this venture is the focus (or concentrated) strategy. This means that a single-segment approach will be considered to deliver recycled mobile phones and handheld devices to the identified individuals. The reason for selecting this decision is that my company is small and has limited capabilities/resources (Schwarzl and Grabowska 192). Another argument is that the model is appropriate for implementing a simple marketing mix, increasing sales, and fulfilling the changing needs of buyers.

Competitors

Baker indicates that competition is something that should never be ignored by firms and entrepreneurs (28). My business idea is expected to attract increased rivalry from existing companies such as Samsung and Apple. This is the case because these corporations produce superior mobile devices that resonate with the expectations of many customers. The second source of competition is from existing small businesses that market smartphones. It will, therefore, be appropriate to implement a powerful differentiation strategy to deal with this challenge.

Differentiation and Positioning Strategies

To achieve every objective, it will be necessary to develop a powerful differentiation model. The main focus will be the issue of sustainability. Every recycled and repaired mobile phone will retain its original quality and deliver additional benefits such as reduced prices. The reason for using this differentiation strategy is that more people will be informed about the importance of recycling. The idea of environmental conservation is also supported by this strategy (Fogel 84). In terms of positioning, the targeted buyers will be informed about the importance of using recycled mobile phones instead of purchasing new devices. They will understand that every marketed product is affordable, promotes sustainability, and tackles the problem of climate change.

Positioning Statement

This statement will be used to support the marketing strategy implemented by my company: To every person who appreciates the concept of sustainability, our recycled mobile phones will allow you to achieve numerous objectives while at the same time maintaining the integrity of the natural environment.

Works Cited

Baker, Michael J. Marketing Strategy & Management. 5th ed., Palgrave, 2014.

orak, Danijel, and Ivica `najder. Marketing Strategies and Their Application in Small and Medium Enterprises Emphasizing the Modern Methods. Vallis Aurea, vol. 2, no. 1, 2016, pp. 51-60.

Fogel, Daniel S. Strategic Sustainability: A Natural Environmental Lens on Organizations and Management. Routledge, 2016.

Juarez, Fernando. Community Strategic Relationship and Marketing to Foster the Development of Communities and the Sustainability of Organizations. International Journal of Psychological Research, vol. 9, no. 1, 2016, pp. 113-125.

Schwarzl, Susanne, and Monika Grabowska. Online Marketing Strategies: The Future is Here. Journal of International Studies, vol. 8, no. 2, 2015, pp. 187-196.

Zeriti, Athina, et al. Sustainable Export Marketing Strategy Fit and Performance. Journal of International Marketing, vol. 22, no. 4, 2014, pp. 44-66.

Miller Brewery Co is the second-largest beer company in the US, located in Milwaukee. The company was founded in 1855. In a century, the company was merged by W.R. Grace and Co. And in 1969, it was acquired by Phillip Morris. The next changes took place in 2002 when Phillip Morris sold it to South Africa Breweries (SAB). In late 2007, the company decided to expand its activities and organized a joint venture: the main parties are SABMiller and Molson Coors. In order to compete on the global scale (Miller Brewery Co 2008), Miller Brewery Co is concerned with setting goals, establishing policies and programs, and implementing business action for the entire firm. Its major tasks are to translate consumer wants and needs, actual and potential, into profitable products and services that the company is capable of producing, of cultivating markets to support these products, and to program the distribution activities necessary to reach the markets.

The uniqueness of the Miller Lite Brewing Collection is that it is oriented to legal-age consumers. In order to enter the site and review the products, a visitor should enter his birth date and year. Using this strategy, Miller Lite tries to protect children and teens from unauthorized purchases and interest in alcoholic drinks. This strategy meets ethical and moral rules established by the company. It does not function as a separate entity in the business, nor is it more important than any other primary activity, yet through actual and potential sales, it does establish constraints within which the other activities must be performed (Miller Brewery Co 2008), The target age group are males and females from 21 years till 35-40 years. This age group is the most attractive for Miller Lite, proposing unique quality and American style. Marketing endeavors to fuse consumer wants and needs with the operations of a business organization, which to survive and grow in a keenly competitive, everchanging environment, concerns itself with the mechanisms of corporate adjustment.

SWOT analysis will help to identify the main challenges and benefits of the current position of Miller Lite Brewing. The main strengths of Miller Lite are its unique brand image and style of beer. This brand obtains a very competitive position on the market proposing unique taste and low caloricity level so important for heavy drinkers, in contrast to traditional beers with 110 calories per 12-ounce serving, which Miller Lite has only 96 calories. Selling history and non-price competition, which takes the form of branding, advertising, promotion, and additional services to customers and product innovation, are the main strengths of Miller Lite. For Miller Lite, the market opportunities include the high potential for growth and profitability of the company, and professional management team, fast-growing market segment, and high prices. On the other hand, there are a lot of threats and weaknesses that can prevent Miller Lite from rapid growth.

The international situation on the beer suggests that brewers are searching for new ways to impress buyers and create a core of loyal supporters. Brewers are looking for a niche, and new flavors, plus craft styles command higher prices, which means more money for brewers (Fredrix 2008). This situation increases competition and demands new investment in research and development and innovative technologies. It is possible to assume that competition can lead to a decrease in prices on beer in the near future. The main weakness of Miller Lite is seasonality. Competition strategy takes place on either a price or a non-price basis. Price competition involves businesses trying to undercut each others prices; this will, in turn, be dependent upon their ability to reduce their costs of production. This can require changes in competitive strategy to remain in the industry and, under some circumstances, it can occasion the decision to exit a business or an industry (Kotler & Armstrong 2005).

The new Craft style of beer is based on a unique combination of wheat, amber, and blonde ale styles so popular among craft brewers. The new-product adoption process is associated with the mental stages of consumer behavior: awareness, interest, evaluation, trial, adoption, and confirmation. As a new product, Miller Lite requires increasing support from marketing programs. A supporting system of communication and distribution must be established to assure the success of a product, and the level of initial promotional costs may be relatively high. The initial costs of cultivating a market may be heavy. Management can choose among alternative policies (Kotler & Armstrong 2005). At one end of the scale, management may choose to push the product through the distribution channels to the market. It may do so by undertaking expensive advertising campaigns.

This campaign is bolstered by a hard-selling effort designed to get wholesalers and retailers to promote the product (Hollensen, 2007). At the other extreme, the manufacturer may hope to pull the product through the channels to the market by cultivating the ultimate consumers. Among the factors that govern the advertising and sales programs that are selected are the degree of newness of the product, the existing degree of competition, the ease of entry of competitors who offer similar products, the brand loyalty of customers, the company image, and the corporate niche in the marketplace. Also, management must decide whether it wishes to skim the market or penetrate it deeply. The main problem is that: Its not clear how drinkers will perceive this new twist on Miller Lite, said Eric Shepard, executive editor of trade publication Beer Marketers Insights. The point of craft beer is more flavorful, so light craft doesnt make a whole lot of intuitive sense to me (). Products like Miller Lite imply investments of significant proportions; they must be reassessed on the basis of future needs.

References

Fredrix, E. (2008). Miller to Launch Craft-Style Lite. Web.

Hollensen, S. (2007), Global Marketing: A Decision-Oriented Approach. Financial Times/ Prentice Hall; 4 edition.

Kotler, Ph., Armstrong, G. (2005). Principles of Marketing. Prentice-Hall; 11th edition.

Miller Brewery Co (2008). Web.

Introduction

Representatives of modern business face challenges in decision-making, which is associated with constant changes in the world. In such conditions, it is essential to monitor the marketing environment to predict demand (Bhasin, 2018; Zhang & Watson IV, 2020). The environment includes micro and macro levels, and the latter embraces economic, political-legal, natural, social-cultural, demographic, and technological factors. Despite the complexity of the environment, it is possible to distinguish patterns that help make forecasts and build a marketing strategy.

Economic Factor

The purchasing power of consumers depends on the economic environment. Low income predicts less spending and demand for inexpensive goods. Depending on the income distribution  the presence of the middle, rich, or poor class  experts can make assumptions about the demand for products (Becerril-Arreola et al., 2021). Consumers behavior is also determined by the correlation of income, savings, credit availability, and debt practices (Kotler & Keller, 2016). For example, a high debt-to-income ratio can slow down the possibility of making large purchases.

The use of MarketPlace Simulation helped to gain practical experience within the educational process. In particular, the analysis of potential consumers helped develop a strategy and set prices for products. The price sensitivity of buyers was taken into account, and data on competitors to understand fees in the market and production costs. Moreover, prices on bikes have undergone the necessary changes as new challenges appeared in simulation. Another critical aspect of the simulation is understanding the coordination of work between different departments since their coherent work impacts profit.

Political-Legal Factor

Political forces, such as laws, pressure groups, or organizations, significantly influence the market, creating obligations, constraints, and opportunities. Marketing decision-making is affected by an increased number of legislations that seek to make businesses honest and protect consumers. Different interest groups also protect buyers rights, which puts pressure on companies. For instance, the consumerist movement made significant changes to the standards and requirements for products (Consumer rights, n.d.). At the same time, new threats to consumers have appeared requiring the companies attention, for example, privacy issues (Wang et al., 2020). The business environment is becoming more complex, affecting decision-making and strategic thinking.

The political aspect was quite challenging but exciting in MarketPlace Simulation. In some cases, the desire to gain more from created products may encourage excitement and the desire to use cunning. As a result, deceptive ads or the desire to copy the product from competitors appear. From the business representatives position, regulations prevent such manipulations and maintain healthy competition. From a consumer perspective, preventing deceptive advertising promotes trust and better relationships with the company. Taking responsibility for own decisions in simulation helped develop leadership and management skills.

Social-Cultural Factor

The environment in which a person grows and lives affects perceptions of self, others, and the world. Marketers need to make decisions based on these thinking patterns. For example, the view of self often reflects peoples aspirations and determines their interests. Views of others are manifested in the desire of people to communicate and trust others similar to them. A view of organizations suggests that companies need to gain consumer confidence. Views of society define the position of people and what they want to do for society  to protect it, change it, take something for themselves, or do other actions. A view of nature describes attitudes towards nature, and at the moment, society is thinking about its fragility and striving to protect it (Saari et al., 2020). Finally, views of the universe reflect peoples religious beliefs, which also affect behavior and consumption.

The socio-cultural environment shapes peoples values, passing them from generation to generation. There are core and secondary values in society, and when making decisions in marketing, it is worth focusing on the fact that only the second type can change a little. Subcultures, groups with common interests or beliefs, also distinguish the socio-cultural factor (Choong et al., 2021). They are crucial for consideration when creating marketing strategies and making decisions.

The socio-cultural influence on simulation was most noticeable while considering brand positioning and advertising. For example, the trend of maintaining a healthy lifestyle is influential among customers. Bicycles can be connected to the vision of self as a person, which takes care of nature and health. The emphasis on environmental protection is also crucial for the brand. Thus, taking into consideration the socio-cultural factor was an exciting aspect of the work in simulation.

Technological Factor

Technology destroys old processes and brings innovation and progress, so any industry needs to monitor technological trends. The time for the emergence of new ideas and their implementation has been significantly accelerated thanks to technology. At the same time, new areas of activity are developing, and the old ones are expanding, creating an unlimited space for innovation. Research and development (R&D) budgets have changed and focused more on development. However, there has also been increased regulation of technological changes to prevent the spread of unsafe products.

The simulation also demonstrated the importance of emphasis on development in R&D. The development of bicycles and their elements was one of the critical tasks for success. It was also necessary to plan production competently to meet the markets needs. At various stages, the technological aspect influenced pricing since the cost of production is an essential factor of influence. It is worth noting that such work in conditions of competition, limited time, and budget contributed to developing strategic thinking skills.

Conclusion

Environmental forces have a critical impact on marketing strategy, as demonstrated by theory and practice in simulation. Economic, political, social-cultural, and technological factors help predict the demand for certain products, choose successful promotion strategies, and meet the markets needs. Every change in the business environment has consequences that companies need to prepare for to maintain their success. Therefore, their ongoing monitoring and analysis substantially impact decision-making in marketing.

References

Becerril-Arreola, R., Bucklin, R. E., & Thomadsen, R. (2021). Effects of income distribution changes on assortment size in the mainstream grocery channel. Management Science, 67(9), 5878-5900.

Bhasin, H. (2018). Importance of marketing environment. Marketing91.

Choong, K., Drennan, J., Weeks, C. S., & Weber, I. (2021). Reaching subculture markets: The cryptic marketing approach. Journal of Marketing Communications, 27(2), 160-175.

Consumer rights. (n.d.). Lumen Learning. Boundless Business. Web.

Kotler, P., & Keller, K. L. (2016). Marketing management (15^th ed.). Prentice Hall.

Saari, U. A., Mäkinen, S. J., Baumgartner, R. J., Hillebrand, B., & Driessen, P. H. (2020). How consumers respect for nature and environmental self-assets influence their car brand experiences. Journal of Cleaner Production, 261, 1-11.

Wang, X., Tajvidi, M., Lin, X., & Hajli, N. (2020). Towards an ethical and trustworthy social commerce community for brand value co-creation: A trust-commitment perspective. Journal of Business Ethics, 167(1), 137-152.

Zhang, J. Z., & Watson IV, G. F. (2020). Marketing ecosystem: An outside-in view for sustainable advantage. Industrial Marketing Management, 88, 287-304.

Accenture is an internationally established organization that serves various consumers. As a result, it adopts unique marketing strategies to ensure that its consumers find value and benefit from its marketing strategies. However, given the complexity of its business, the organization must continuously evaluate its marketing strategies to ensure that they align with its goals. Thus, the two strategies that Accenture will adopt to evaluate its marketing performance are checking for changes in sales and evaluating the strategies used by its competitors.

Marketing aims at grabbing the attention of potential consumers and soliciting them to make purchases. Thus, a reliable solution to evaluate the impact of particular initiatives is examining changes in sales and demand. Effective marketing produces positive results in sales as more people will inquire about the products and show their appeal. Hence, negative results indicate ineffective marketing approaches (Ferrell et al., 2021). In addition, Accenture can examine its return on investment in resources used for promotion initiatives. A positive return on investments indicates effective and reliable techniques. Otherwise, the organization can alter its practices to achieve better results and meet the companys requirements.

Advertising is a critical component of organizations as it facilitates a continuous supply of customers and business sustainability. However, some marketing strategies do not yield the desired results, requiring the assessment of the adopted techniques to ensure effectiveness. Thus, marketing strategy evaluation solutions can assist companies to make the necessary changes and improvements. On that account, checking for changes in sales and evaluating competitors practices are reliable evaluation tools that Accenture can use to ensure the success of its marketing initiatives since they are efficient and less complicated.

References

Ferrell, O. C., Hartline, M., & Hochstein, B. W. (2021). Marketing strategy. Cengage Learning.