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With mass marketing, a company will basically throw all their eggs into one basket generating one marketing plan that they feel will be suitable for as much of the market as possible. While this may have worked in the earlier days of marketing the introduction of the internet, increase in the variety of products out there, and the increase in the number of market segments has made this approach somewhat dated. While it still might be possible for a large brand to use this tactic when they are the only product of their kind being marketed and save some money the odds are they will not be the only type of their product out there for long. A quick trip to the grocery store can help show this by the large majority of name brand products that are also available as "no-name" brands. These products can then get by virtually spending nothing on marketing and still have a shot at making it to a consumer's home as more and more people look only to compare prices when they shop, or are looking for a more personal touch.
A good example of this is Tide, who some would argue doesn't need to use targeted marketing, but in this world of the internet, mass media available in more homes, and personally targeted advertising from social media even the big brands need to target their customers (Arndt, Berner, Bianco, Lowry, & Grover, 2004). The world is just becoming too small these days for businesses to continue to think that the old way of doing business will continue to work and needs to evolve with the times.© BrainMass Inc. brainmass.com October 25, 2018, 9:53 am ad1c9bdddf
Personally I believe that as long as the media for mass marketing such as radio, television, movies (in placement marketing), and newspapers are not dead, then mass marketing is here to stay. However, I do acknowledge the growing importance of targeted ...
A discussion on whether mass marketing is dead in this age of information technology.
Strategic Marketing Importance
1.) Why is the "why" is more important than the "what"
2.) The defense of your positions on the issues is more important than the positions you take
3.) It is expected that you will use the above directives and/or questions as titles placing your responses to those directives and/or questions below each
It is expected that you will state the name of product/brand (iPhone 4S) you are analyzing and state the name of the company (Apple) that owns that product/brand.
1.) Sales ($'s and % of the sales of all the products of the division of the company that owns the product/brand).
2.) Costs ($'s)
3.) Contribution to Overhead and Profit (Sales - Costs in $'s and % of the contributon of all the products of the division of the company that owns the product/brand).
4.) Investment needed to generate Sales (Turnover Ratio = Sales / Investment)
5.) Margin earned on Sales (Contribution to Overhead and Profit = Margin (or Overhead and Profit] / Sales
6.) Return on Investment (Turnover x Margin)
7.) Market Share
It is expected that you will uncover and report information on the recent (e.g. over the last 5 to 10 year) financial performance of Apple Inc. Since some of the financial information at the product/brand level is proprietary, it is expected that you will be able to report some, but not all, of the above financials.
1.) Major Strengths of the Product/Brand
2.) Major Weaknesses of the Product/Brand
3.) Major Opportunities faced by the Product/Brand
4.) Major Threats faced by the Product/Brand
It is expected that you will present what you feel are the major strengths and weaknesses of the product/brand with your justification of why, out of all its strengths and weaknesses, you picked those strengths and weaknesses. Similarly, it is expected that you will present what you feel are the major opportunities and threats faced by the product/brand with your justification of why, out of all the opportunities and threats the product/brand faces, you picked those opportunities and threats.
1.) Competition (Current)
2.) Competition (Future) - Substitutes
3.) Buyer Decision-Making and Behavior
7.) Politics - Government - Legislative - Legal - Barriers to Market Entry
It is expected that you will present how each of the above environmental factors poses a threat to the financial future of the product/brand and/or is not a threat because of the strength of the product/brand. It is also expected that you will present how each of the above environmental factors poses an opportunity to strengthen the financial future of the product/brand.
2.) Market Segmentation
3.) Target Marketing
4.) Mass Marketing
5.) Mass Customization
It is expected that you will present how each of the above strategic factors poses a threat to the financial future of the product/brand and/or is not a threat because of the strength of the product/brand. It is also expected that you will present how each of the above strategic factors poses an opportunity to strengthen the financial future of the product/brand.
It is expected that you will present the primary marketing research you conducted as part of your SWOT marketing analysis is this section.View Full Posting Details