3 INTRODUCTION AND BACKGROUND ITCo has been in business for 6 years and was formed with the intention of being a company that provides innovative marketing database solutions tailored specifically to the marketer. The business started with ad hoc Bureau work using proprietary software that enabled work to be conducted faster than most other Bureaux in the market place. In 1997 we developed a new product that enabled Clients to access and query their data via a secure web link (Quick Counts) and this became a market leader for this type of product. In the years since, many more companies have released their own versions of this type of software that has more functionality than our original product. We have only discovered this when we have attended industry exhibitions or have feedback from our sales force, which has only recently been expanded to three personnel as opposed to one less than 10 months ago. We have recognised that we had not paid attention to the market in the past three to four years and our revenues were suffering as a result. A five year tactical plan was implemented in 2001 which saw the introduction of a marketing department for the first time in our history. Much of the past 12 months has been devoted to setting up the foundations as well as upgrading our sales collateral and launching our company brand. In 2002 a five year strategy was finalised that includes a theme of "Innovation" where the focus must now be on developing innovative solutions to meet the needs of the market place. Part of the preparation for the Strategy included some unstructured market research that sought to identify our market arena, its potential growth and other markets that we perceived we have some cross over in. 4 RESEARCH PURPOSE In order to fulfil the...
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added: 12/24/2011
Executive Summary The Home Depot, Inc. is not only the largest home improvement retailer in the world, with 913 Home Depot® stores and 15 Expo Design Center® stores, it is also the third largest retailer in the United States. Home Depots focus on delivering low prices with customer service has done well and has been one of the fastest growing retailers over the past 23 years. Home Depot has an excellent marketing strategy covering form the Do-It-Your-selfer to the industrial contractor. This includes the direct sales from their retail stores and through their direct marketing subsidiaries Maintenance Warehouse® for direct mail marketing of maintenance products and National Blinds & Wallpaper(SM) telephone / mail order service. Some of the marketing strategies Home Depot may wish to consider the following. An in house web directory to point customers directly to the good or services they are inquiring about, and a more personal touch with a real person to meet and greet and direct you as you enter the store. These would enhance the High Levels of customer service that is part of the Home Depot image. Mission Statement · The Home Depot gives you the lowest prices and the highest levels of customer service. Corporate Goals · Taking Care of Our People · Excellent Customer Service · Entrepreneurial Spirit · Respect for All People · Building Strong Relationships · Doing The Right Thing · Giving Back · Creating Shareholder Value Industry Characteristics 2001 home improvement industry forecasts Operating over 900 store in the United States, Canada, and Latin America, Home Depot is anticipating opening approximately 200 new stores with a plan of having over 1,900 stores by end of fiscal year 2003, with most of these stores being located in the United States. · Home Depot one-year sales growth: 19.00%. Difference from the average for the Home Improvement Stores group: 18.70 pct. pts. · Home Depot one-year income growth: 11.30%. Difference from the...
pages: 10 (words: 2591)
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added: 01/10/2012
BRANDING OF COMMODITIES: HIDDEN ISSUES AND PERSPECTIVES " A brand is not an icon , a slogan, or a mission statement. It is a promise—a promise your company can keep.....................This is the promise you make and keep in every marketing activity, every action, every corporate decision, every customer interaction". -----Kristin Zhivago, " Business Marketing" SHIVANI GUPTA EXECUTIVE SUMMARY The inimitable nature of the consumer market has necessitated the need for a fundamental and radical change in the strategic aspects of doing business. The biggest challenge facing manufacturers today is how to differentiate their commodity so that their business rises above the commodity market place to enjoy the margins and premium associated with consumer packaged goods markets. Therefore the key to the success of marketing commodities in today's market place is an intense focus on creating true economic value for those customers who are willing to pay for it and a brand strategy based on product, delivery or service differentiation. In this context we have categorized the commodity market as commodities consumed at industrial level (B2B) and commodities consumed at retail level (B2C). Branding in the context of industrial buying has been determined on the basis of research conducted by McKinsey which states that consumer's concerns for on-time delivery, consistency of product performance, level of technical support and service, and relationship with supplier are greater determinants than price while placing order. Therefore companies which serve different segments of industrial buyers can maximize their sales by slotting prospective customers into a needs-based segmentation scheme. Analysis of branding of commodities consumed at retail level (B2C) shows that manufacturers must effectively differentiate their product offering vis-à-vis competitors as it moves the buying decision away from solely price factors and therefore generates long-term profitability and sustainable advantage in a crowded marketplace. We have substantiated the above with relevant case studies in commodity markets like Wheat Flour(Atta), Bottled...
pages: 8 (words: 2181)
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added: 01/11/2012
What is CRM? CRM stands for Customer Relationship Management. It is a strategy used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. After all, good customer relationships are at the heart of business success. CRM is a comprehensive approach which provides seamless integration of every area of business that touches the customer - namely marketing, sales, customer service and field support-through the integration of people, process and technology, taking advantage of the revolutionary impact of the Internet. CRM creates a mutually beneficial relationship with your customers. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a process that will help bring together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends. What is the goal of CRM? The idea of CRM is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. If it works as hoped, a business can: „h provide better customer service „h make call centers more efficient „h cross sell products more effectively „h help sales staff close deals faster „h simplify marketing and sales processes „h discover new customers „h increase customer revenues Why is CRM Important? The task of implementing and maintaining a CRM solution can seem overwhelming. But, when the goal of cheaper, faster, better customer service is considered, the results far outweigh the challenges. CRM, at no time, has been more crucial than it is today with heightened attention to cost cutting, revenue generation and customer retention. CRM is not just a software solution, but also a set of skills and competencies that will enable a company to better leverage and profit from each and every customer relationship. In a...
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added: 01/14/2012
EXECUTIVE SUMMARY Raaymakers Industries is a Sydney based company and leading producer of frozen beef products. Growth within our Australian market has become stagnant, and we are looking to explore opportunities to expand our operations into overseas markets. We have conducted a feasibility study on entering the Mexican market, which is known to have difficulties in breeding cattle in the early 1990's due to many problems such as, poor weather conditions and high feed costs. We have researched the political, economic, social, environmental, technological, and legal environment to identify any factors that may influence our expansion. As well, in this study, we have endeavored to ascertain the costs involved in this expansion as well as to determine the most suitable mode of entry. Although we will be facing high levels of competition we believe that through continuous research and development, we can provide Mexico with the best quality frozen beef that could perhaps not be available domestically. Further, we strongly believe that our reputation for safe and reliable products will provide us with a competitive advantage. As Chief Executive Officer of Raaymakers Industries, it is my recommendation that we proceed with this venture, as I see great potential for our company to grow and expand. TABLE OF CONTENTS Topic Page 1. Product and Company Description 3 2. PESTLE Analysis: Mexico • Political 4 • Economic 4 • Social 5 • Technological 5 • Legal 5 • Environmental 6 3. Trade Relations 7 4. Barriers/Impediments to Trade 8 5. Sales prospects 9 6. Mode of Entry 10 7. Timetable of Activities 11 8. Financial Forecast 12 9. Conclusion 13 10. Bibliography 14 11. Appendices Appendix A 15 Appendix B 16 COMPANY PROFILE AND PRODUCT DESCRIPTION Raaymakers Industries began as a small manufacturing firm in 1995, servicing only a few farms within New South Wales. Between 1995 and 2002 we achieved growth and diversification, and are currently servicing farms throughout Australia as well as numerous farms nationwide. We have traditionally...
pages: 12 (words: 3287)
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added: 01/14/2012
Case Summary: Darren Skanson, a classical guitarist, has used his expertise and popularity as a performing artist to form a company, Colorado Creative Music, to produce and distribute recorded CDs of his and other musicians' works. In 2001, he has one other performer on contract and two part-time employees whose responsibilities range from answering telephones, filling and sending out orders, maintaining equipment, managing inventory, preparing for gigs and promoting CDs to local vendors. In March 2001, Darren, who travels and performs up to 40 weekends a year, is caught between his multiple roles as lead performer, marketing and sales director, and manager. However, he realizes that he cannot sustain the energy needed to do everything well. Tendonitis in Darren's elbow is forcing him to rethink his plans and examine his current role in his company. Questions & Answers 1. I think Darren has done some good job and has used his expertise and popularity as a performing artist to form a company, Colorado Creative Music, to produce and distribute recorded CDs of his and also help other musicians. The studio now encompasses 16 tracks of digital recording and nearly the entire basement. 2.Competiton in the industry- It¡¦s hard for a small music company like CCM to compete with the major leaders of the music industry, such as SONY, EMI and so on. The music industry deals with increasing market growth, especially from smaller labels. There is potential for CCM to grow to an independent label in future. 3. Driving Forces of change ¡V Internet today is one of the major forces changing the music industry. Internet brings new opportunities in the areas of downloadable MP3 music and e-commerce sales. Also, marketing, technology and promotion are key elements. 4. There are a number of companies battling for a piece of this market. Only in the United States, online sales...
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added: 01/14/2012
John Pemberton, an Atlanta pharmacist who invented coke made out of a combination of lime, cinnamon, coca leaves, and the seeds of a Brazilian shrub to make this wonderful drink. Later carbonated water was added to the syrup making it known as Coca- Cola. Frank Robinson who was John Pemberton's bookkeeper and close friend named the drink Coca-Cola. He sold a portion of his company to Asa Candler, and after Pemberton's death the remainder was sold to Candler. He was forced to sell because he was in a state of poor health and was in debt. He had paid $76.96 for advertising, but he only made $50.00 in profits. Candler bought the whole company for $2,300, he had achieved a lot during his time as an owner of the company. The Coca- Cola Company within four years has made a soda fountain drink available in all states. In January 31, 1893, the Coca-Cola formula was patented, and Candler opened the first syrup manufacturing plant in 1884. The coke formula has once been changed and introduced as the New Coke, which consumers rejected. The original recipe was soon brought back as the Coca-Cola classic. The company had soon acquired Mad Ricer Traders, makers of teas, gourmet sodas, juices, and more and was dominated by the rival Pepsi Company. Since it's beginning in the spring of 1886, Coca-Cola has grown to become the most recognized trademark in history. Operating out of more than 195 countries worldwide, it is the most popular beverage on earth and is enjoyed over 773,000,000 times daily. The Coca-Cola Company is the world's leading manufacturer, marketer, and distributor of non –alcohol beverage concentrates and syrups. The Company and its subsidiaries employ nearly 31,000 people around the world. The strategy and missions are best characterized as global marketing and local manufacturing....
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added: 01/20/2012
Introduction: Change is an ongoing phenomenon in an organisation's life. The success and failure, growth and profitability of any organisation depend upon its capability to change with the internal and external environment. Any change in the organisation's environment including changes in the taste of customers, the market competition, political or economic issues, social changes make it imperative for it to make changes in the internal environment. Every organisation thus take action to accommodate or to keep itself updated with the environmental change. Key issues: This paper discusses the types of changes that take place in the environment of the organisation and how these changes are implemented, managed and resisted in organisation. Types of changes in the environment : External environment: According to Scherrer (2003) changes, defined as uncontrollable elements by management include issues such as foreign competition, capital market movements, the non-responsive political issues, cultural change, economic factors and the technology. He also states that a change in external uncontrollable element will be felt by all businesses in an industry, but the impact these changes have on a specific business depends on the strength and stability of the management. These elements are closely interrelated and thus any change in any one environmental force will consequently affect the other. For example a change in the culture or government policy may affect the change in the economic policy, which may again lead to technological changes and as a result the level of competition in market may expand. Thus to keep with the pace of the ongoing market trend the mangers have to be predictable as to what can be the necessary changes required in the future. (Appendix 1)(Scherrer, P.S., 2003) Internal environment: According to Scherrer (2003) the changes affected by the controllable elements of environment comprising the working force, the various culture that they come from, economic factors such as...
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added: 01/24/2012
In today's world, we all should not be scared of technology. Technology should be considered an Enabler not as a means. Always creativity and commonsense will be the one that will prevail and would be the source of success. If any body thinks technology is the root cause of success, they will not be successful at all! Take the case of myself, when i went to business, i bought a huge amount of hardware and invested a lot on IT people and software. I only found that the expense grew! I made sure that from the second year of operations, i cut short investment in IT and fired all the fancy IT people who are not contributing. Made the business users to take charge of the business, Presto, I was successful! management as their route to faster, more profitable growth. Enterprise marketing management is a system for enhanced marketing effectiveness based on: Capturing and codifying marketing best practices from both within the corporation and from selected third. The Marketing Knowledge Center is a networked digital repository where a corporation maintains its marketing memory and expertise, deploys it to individual practitioners throughout the organization, and measures and learns from the effectiveness of its application in the ,marketplace. Every form of marketing asset can be tored and retrieved – documents, TV and Radio Commercials, print advertisements, historical research reports, annual plans, promotion details, and every item that a marketing practioner or manager needs to do their marketing job. best practice knowledge and processes throughout the organization so that they are applied productively and effectively. Enterprise marketing management has In addition to marketing assets, marketers need access to data to do their jobs. The Data Management Module includes an integration layer to access both external and internal data, and the tools and analytics to process this data into information that can be...
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added: 01/27/2012
According to the video we watched in class, Levi's was not at the top of any denim tests, however they sell for the most. This is due to their marketing strategies. Over past decades Levi's has changed it's image to fit with the current style. In the 20s and 30s it was the cowboy; after the war it ... about those actions. Codes of conduct contain examples of appropriate behavior to be meaningful. We will investigate the business ethics of marketing practices, workforce make-up and organizational diversity. These are very complex topics but it is our hope that we will be able to broaden your understanding ... Brand Equity ... star athletes. Children and adults want to wear Nike's products to feel some association with these star athletes ("be like Mike." ) The marketing image that has been created for Nike is the driving force of the demand for the products rather than the physical features. Buyers are willing ... Data Mining ... customers. As stated before, many businesses rely on this use of data mining for survival. This is very helpful when deciding strategic target marketing. Without it, many businesses may not have enough customers to run a profitable and successful operation. Identifying inefficient operations within ... Punk and Post-Punk Subcultures ... as well; it required neither shampoo nor comb and couldn't be grabbed in a fight. They wore T-shirts, button-down Fred Perrys, Ben Sherman shirts, Levi's , black Swat slacks with suspenders (always referred to as "braces"), black felt "donkey" jackets that wouldn't tear in the factory ... Punk Music ... as well; it required neither shampoo nor comb and couldn't be grabbed in a fight. They wore T-shirts, button-down Fred Perrys, Ben Sherman shirts, Levi's , black Swat slacks with suspenders (always referred to as "braces"), black felt "donkey" jackets that wouldn't tear in the factory...
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added: 01/30/2012