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Fundamentals of Marketing

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Define "marketing" in your own words based on what you read in the text, web searches, or Library research. Be sure to give credit to the authors of the source(s) for providing you with the knowledge. Continue to add to the definition of marketing by discussing an example of either successful or unsuccessful marketing practices that you found by researching in the Library or on the Internet. Be sure to bring in applications from this week's topics to back up your opinion as to why it was successful.

Define marketing and discuss its core concepts.
Explain how changes in the environment affect marketing decisions.

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The best way I feel I could best explain and offer help to you is to give you an example of something I would write if this were my assignment. As an instructor I know what I want to see in a paper but turn the question around to you. What if you were given a "paper" "document" (through e-mail) ask yourself these questions:

How well this paper is organized? This is huge with me as well as many of my colleagues; i.e. Is it reader friendly, readability?
Is the information jumping around or does it flow?

Does the material that the "student" (you) provided cover the main facts that was asked for?
Did the student expand on any other ideas? Going above and beyond; 110%
Was it just the basics?
Was any new information provided?
Were there any for instances, or examples?

Did it keep my attention?
Was it interesting? Dull? Simplified? Too lavish?

Was the page amount requested fulfilled? (usually can go 1 page less or more from the guidelines - unless the instructor has specifically said # amount of pages?
APA format? Or any other format requested by the instructor?
Did they site their work properly? At all? Did the references take approximately 10% of the paper? (10% is the typical amount a well experienced student knows to include within his/her paper from past experiences)
Typos? No excuses on this one - BIG point taker if I see one?
Grammar? No excuse; this is college now - no warnings.

Is this something this student would write from what I know about him/her?
Is the work too basic? (for that person)
Is the work too detailed? (for that person)
Is it apparent that this student plagiarized?

What else would you ask? What else has your instructor asked (requested)?

Keep these in mind when you are formulating your own response into your answer for your assignment. If you would like to site any of this response please do so - only - please do it properly, please follow the format below if you chose to do so.

[BrainMass Online TA Name], Online TA [OTA ID#], Posting Code [Posting Code], http://BrainMass.com (hyperlinked if submitted electronically), [Month], [Year].
Cherie J. Hetland M.Ed, Online TA# 105280, Posting Code #####, http://BrainMass.com, February 2007.

There are a number of aspects encompassed by the field of Marketing. Each of these aspects are elements in the performance of Marketing a product. The concept of Marketing is made up of four "P's;" they are Product, Price, Promotions, and Placement. These elements of products and services or ideas are used to create exchanges that satisfy an individual and or organizational goal. Promotion is the main "communication to the market that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response." Advertising is a key element to the promotion strategy. The advertising appeal is why consumer wants to buy a product or service.

Developing and evaluating advertising appeals is a complex assignment. This is usually the responsibility of the creative people in the advertising agency. The most widely used appeals are Profit, Health, Love and Romance, Fear, Admiration, Convenience, Fun and Pleasure, Vanity and Egotism, and Environmental Consciousness. When looking at a product or service the consumers look at certain aspects that appeal to them which, helps aid them in their decision on that product/service. The Profit appeal "lets consumers know whether the product will save them money. Make them money, or keep them from losing money." The Fear appeal "can center on social embarrassment, growing old, or losing one's health; because of power, requires advertising to exercise care in execution." Another advertising appeal that is commonly looked at is

Environmental Consciousness, which focuses on protecting the environment and being considerate of others in the community.

When choosing the best appeal for your product/service it generally requires market research in order to place your product/service in its correct target market. "The appeal first must make a positive impression on and be desirable to the target market. It must also be exclusive or unique; consumers must be able to distinguish the advertiser's message from the competitor's message." When making your impression on the target market it is enormously important to make sure the appeal is believable and is not embellished. If the appeal is over thought it not only wastes promotional dollars but also creates ill will for the advertiser.

The advertising appeal for the product/service must be desirable, exclusive, and believable advertising, which is also known as the Unique Selling Proposition. The Unique Selling Proposition commonly turns into the promotional slogan. As a business you want your slogan to be a household theme or symbol that everyone will recognize. "Effective slogans often become so ingrained that consumers can immediately conjure up images of that product just by hearing the slogan." If you have accomplished that your firm has been extremely successful in advertising. Some successful slogans that can easily recognize are: "Have it you way," "Tastes great, less filling," "Ring around the collar," and "Tum te Tum Tum." Most advertisers often revitalize "old slogans or jingles in hope that the nostalgia will create good feelings with consumers," states Lamb, Hair and McDaniel. This is a bona fide strategy when dealing with consumers. It not only creates a longing from the previous consumers, but also implants the old slogan into new potential consumers.

A model that contours the process for attaining promotional goals in terms of stages of the consumer involvement with the message is known as the AIDA concept, (attention, interest, desire, and action.) Attention is the first step; this is when the advertiser must first gain the attention of the target market. "A firm cannot sell something if the market does not know that the good or service exist." In order to attract this attention you can place ads on TV and in consumer magazines. Next is interest, the simply awareness of a brand seldom leads to a sale. The firm's assignment is to generate attraction. The firm must make the consumer interested in the ...

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Introduction to and Fundamentals of Strategic Marketing

You are to define each of the factors your VP of Marketing asked you to review analyze how your Company's products respond to changes in those factors, then defend your position in terms of the current market(s) for the product.

Company is Burberry or Coach

You need to consider the ways in which the market for your designer's/brand's products/goods are segmented. The key to building a case for or against what your designer/brand is doing is to present the market structure for the products/goods your designer/brand sells including how that market is segmented, the target markets served, and who competes in those markets.

If you define the target market based on demographic, socio-psychographic, and/or geographic factors; be careful to cite substantial differences in behavior (clothing chosen) of shoppers by age, income, gender, marital status, and family life style. If you don't define the target market based on demographic, socio-psychographic, and/or geographic factors; you need to explain why those factors are not applicable for your designer/brand.

What is the socio-economic class of the buyer of your clothing? In other words, in terms of the marketing environment for clothing, you need to comment on the current socio-economic environment.

Is that buyer affected by swings in the economy?

Is there competition for your current, potential, or prospective buyers' business? If so, how competitive is it, out there? In other words, you also need to consider the ease with which competitors can duplicate your products (goods), your methods and content of promotion, your methods of distribution, and your prices.

Is the buyer/wearer:

A Man or Woman
A child or adult
Big or small
Short or tall
Need Slim or regular or husky
Need Pleats or no pleats

Does the buyer want cotton, wool, blend, polyester, microfiber?

In terms of price points:

1. Is there any competition at the low end?
2. Is there any competition at the mid range?
3. Is there any competition at the high end?

You will find instructions on how to get into databases that will help you find information on companies and products at the following url
http://sites.google.com/site/zaydeealan0/tui-unviersity/searchingbrandproductcountryinformation

This does NOT require a detailed essay. Instead use section headings for each of the topics you address in your paper followed by a discussion of each of those topics. Possible section/topic headings are:

Introduce the issue -- what designer's (brand, product, or good) are you analyzing, what are the problems that designer's (brand, product, or good) faces?

(1) Analyze the environment
(2) Target Market - current
(3) Products - current
(4) Promotion - current
(5) Distribution - current
(6) Pricing - current

Evaluate the importance of the following factors by current, potential, and/or prospective customers
(1) Marketing environment factors
(2) Target Market
(3) Products
(4) Promotion
(5) Distribution
(6) Pricing

Come to a Conclusion regarding the relative importance of the factors driving choice
(1) Marketing environment factors - defense of position
(2) Target Market - defense of position
(2) Products - defense of position
(3) Promotion - defense of position
(4) Distribution - defense of position
(5) Pricing- defense of position

Available on 12 May 2010 at
http://www.fastcompany.com/1627908/a-6-step-guide-to-brand-transformation

Latest luxury-retail reports illustrate spending upswing
Coach and Burberry reported solid sales growth, bearing out predictions that luxury-retail spending is recovering. "During the recession, it was not considered 'cool' to shop. So right now, people with money are spending because of that pent-up demand," says consultant Patricia Pao. "And interestingly, so are people with less money, not just because of pent-up demand, but also due to the new merchandising direction of prints and bright colors."

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