Marketing Mangement 21st Century Essay Example

Marketing Mangement 21st Century Essay Defining Marketing for the 21st Century Tutored by : Prof. Sunil D’ Anto Session Agenda †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Importance of marketing Marketing Defined The scope of marketing Tasks of a successful marketing practice Fundamental Marketing Concepts Tools of Marketing Marketplace Orientations How has marketing management changed? Marketing’s Responses to New Challenges Importance of marketing (why are we learning it? ) †¢ †¢ †¢ Press notes communicating marketing triumphs Profound articles on marketing strategies tactics The creation of CMOs Marketing is required to build strong brands a loyal customer base which contribute majorly to the firm’s value †¢ Marketing assists the firm : – in deciding on the right product, price, promotion, communication delivery (place) – to redo business models, in the world of empowered customers highly competitive market place. The case of : the brands X erox Nirma What is Marketing ? too often confused and identified with selling, advertising or promotions only! †¢ Real marketing practices and theories are all too often invisible to the average consumer common man. Therefore, let us understand define marketing†¦ Defining Marketing Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. the AMA Good Marketing is No AccidentCase of Tata Ace: The roaring success of fourwheeler Tata Ace, in a market earlier dominated by three-wheeler load carriers, was due to a deep understanding of the market needs and customer requirements. What is Marketed? (the market offering / the product) Goods Services Events Experiences Persons Places Properties Organizations Information Ideas Successful New Product launches require careful Planning Re-defining Market †¢ T raditionally, market a physical place. †¢ Economists describe a market as a collection of buyers and sellers who transact over a particular product or product class. Contemporarily: – Marketers use the term â€Å"market† to cover various groups of customers – Marketplaces/ Marketspaces – Metamarkets metamediaries Simple Marketing System Communication Industry (a collection of sellers) Goods/services Money Market (a collection of Buyers) Information Exchange Transactions †¢ Exchange defined †¢ Conditions for an exchange †¢ Up-gradation to a Transaction Structure of Flows in a Modern Exchange Economy Key Customer Markets Consumer Markets Global Markets Business Markets Nonprofit/ Government Markets Core Concepts of MarketingNeeds, Wants, and Demands * Segmentation ,Target markets, Positioning Product or Market Offering Brands Customer, Consumer, Client Value and Satisfaction Exchange and Transactions Relationships and Networks Market ing Channels Supply Chain Competition Marketing Environment * Assignment 1 (a) States of Demand †¢ Eight demand states are possible: – Negative demand : consumers dislike the product and may even pay a price to avoid it. – Non-existent demand :consumers may be unaware or uninterested in the product. – Latent demand: consumers may share a strong need that cannot be satisfied by an existing product. Declining demand : consumers begin to buy the product less frequently or not at all. – Irregular demand: consumer purchases vary on a seasonal, monthly, daily, or even an hourly basis. – Full demand: consumers are adequately buying all product put into the marketplace. – Overfull demand: too many consumers would like to buy the product that can be satisfied. – Unwholesome demand: consumers may be attracted to products that have undesirable social consequences. Company Orientation Towards the Marketplace Production Concept Product Concep t Selling Concept Marketing ConceptConsumers prefer products that are widely available and inexpensive Consumers favor products that offer the most quality, performance, or innovative features Consumers will buy products only if the company aggressively promotes/sells these products Focuses on needs/ wants of target markets delivering value better than competitors Customer Delivered Value Starting point Factory Focus Existing products Means Selling and promotion Ends Profits through sales volume (a) The selling concept Market Customer needs Integrated marketing Profits through customer satisfaction (b) The marketing concept Holistic Marketing DimensionsPerformance Marketing The Four P’s Functions of CMOs †¢ Strengthening the brands †¢ Measuring marketing effectiveness †¢ Driving new product development based on customer needs †¢ Gathering meaningful customer insights †¢ Utilizing new marketing technology Improving CMO Success †¢ Make the mission and responsibilities clear †¢ Fit the role to the marketing culture and structure †¢ Ensure the CMO is compatible with the CEO †¢ Remember that show people don’t succeed †¢ Match the personality with the CMO type †¢ Make line managers marketing heroes †¢ Infiltrate the line organization †¢ Require right-brain and left-brain skillsMarketing Management Tasks †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value (total C. Benefits – total C. Costs) Communicate value Create long-term growth Evolving Views of Marketing’s Role Finance Production Human resources Marketing Production Finance Human resources Marketing a. Marketing as an equal function b. Marketing as a more important function Evolving Views of Marketing’s Role (contd. ) Production Marketing Customer c. Marketing as the major function . The customer as the controlling factor Evolving Views of Marketing’s Role (contd) Production Marketing Customer e. The customer as the controlling function and marketing as the integrative function Understanding Marketing.. The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available. † Peter Drucker

Whos Afraid of Virginia Woolf essays

Who's Afraid of Virginia Woolf essays Whos Afraid of Virginia Woolfe is far and away one of the most personal plays that I have ever been to. This play seemed to hit on all aspects of life in the 60s, materialism, plastic appearances and an abundance of alcohol to help bring about the true nature of the characters. The most amazing thing about Albees play was the fact that it seemed to describe human nature to a tee. The differences between 1962 and 2001 are huge, we have basically created new lifestyles for ourselves, but this play proves once again that human nature never becomes outdated. Albee hits on several aspects of the way we project ourselves as couples in social situations, George and Martha probably seemed like a perfectly happy couple on the outside to all the other faculty members who attended the party but once they were in private their image is projected in a whole new light. In a time when divorce was not nearly as prevalent as it is today this was probably a fairly common scene for the middle class of the time. Couples stayed together because that is what society condoned, breakups in marriage were scorned and high position families and couples stayed together for the sake of their careers no matter what kind of difficulties they experienced with each other. One of the major points made in this play was the fact that George just was not living up to Marthas expectations he wasnt the head of the History department even though he had been there for a very long time, this failure was present throughout the entire play suggesting that it was a major issue with the couple that was causing many problems. This lack of success on Georges part was also evident from the way he treated the young and upcoming Biology professor Nick, his apparent contempt seemed to stem from the fact that Nick had a better shot at becoming what George never could be. Marthas obsession with Georges career seemed to disappo...

Group Media Assignment Essay Example | Topics and Well Written Essays - 1000 words

Group Media Assignment - Essay Example As a result, the oil and gasoline prices have plunged down significantly. The focus of the world has been on the United States since it is providing half of the total reserves that are to be released and the US government too has been proactive in justifying its decision; proclaiming that the move was not based on any political motives. Though this decision has faced a great deal of criticism from all corners, the US believes that the release would help in lessening the gap between demand and supply of oil. The article is very appositely related to the concepts of Demand and Supply. Before the political explosion in Libya, the supply and demand of crude oil were relatively stable and a reasonable equilibrium existed between price and quantity, but as soon as the oil production in Libya cut down, the supply fell tremendously, whereas the demand remained almost unchanged. This led to a higher equilibrium price and lower quantity. Now, with oil being released by US and its allies, the s upply would rise to counter the demand. The current decline in oil prices is its confirmation. The reduction in the supply of crude oil from Libya can also be understood in terms of the effects of one of the Supply determinants, namely Number of Suppliers. Since the number of crude oil suppliers in the world are limited, so when Libya, which is one of the major suppliers, departed from the scene, the supply automatically plummeted. Moreover, the demand remained unchanged due to an important Demand determinant, namely Price of Related of Goods. Since, crude oil has numerous complements whereas nearly no substitutes its demand never fell. (400 words) China Investigates Pricing by 2 Broadband Companies The article ‘China Investigates Pricing by 2 Broadband Companies’ by Barboza (2011) published in the New York Times reports about the monopolistic behavior of two of the largest government owned telecommunication firms, China Telecom and China Unicom. With regular grievances from customers that the two companies overcharge them and deliver comparatively low speeds for Broadband Internet, the National Development and Reform Commission has decided to examine whether the companies have violated the Antimonopoly Law. Analysts believe that this enquiry has come about mainly due to consumer pressure because in China, the state has always supported oligopolies with little contest and huge profits. Li Qing who works as the deputy director of the bureau of price monitoring and antimonopolization at the National Development and Reform Commission reported the fact that combined revenues of Telecom and Unicom were $10 billion in 2010 and greater than 66% of the market share belonged to the two giants. Zhang Bin, a telecommunication expert provides a different view, saying that the government did try to create competition in the industry among a few major firms; however, the outcome was not as expected and the oligopoly continues to thrive. The article pertinently relates to the concept of oligopoly. Since there are only two companies, Telecom and Unicom, involved in the oligopoly, hence, it can also be called a duopoly. These two giant telecommunication companies satisfy all the characteristics of an

Financial Accouting Theory coursework Essay Example | Topics and Well Written Essays - 1500 words

Financial Accouting Theory coursework - Essay Example permits the accounting treat of investments in joint ventures in either of two methods, namely, the proportionate consolidation method or the equity method. It is matter of great controversy and discussion as which method is most suitable for venturer to recognize its joint venture interest in its financial statements. An effort has been made in this write up to suggest the most suitable method of accounting for the venturer. For applying proportionate consolidation method the consolidated financial statements of jointly controlled entity are used. The consolidated balance sheet of the venturer includes its share of assets that it controls jointly as well its share of liabilities for which it is jointly responsible. Similarly, the profit and loss account of the venturer includes its shares of income and expenses of the jointly controlled entity. First, Share in each asset, liability, income, and expenses of the venturer into the joint venture statements may be shown as separate line item under the asset, liability, income, and expenditure of similar nomenclature in the consolidated financial statements of the venturer, or the second, where the venturer may combine its share in each asset, liability, income, and expenditure into joint venture financial statement with asset, liability, income, and expenditure of similar nomenclature in the consolidated statements of venturer. Under equity method initially the investment into the joint venture is recoded at cost. The venturer will recognize its share of joint venture income as an increase in investment and a corresponding increase in the net income. Share of income or part of investments actually withdrawn or taken from joint venture business is not shown as income by the venturer in its statements. Instead those are reported as reduction in the joint venture investment account. Market values of the investments into the joint venture are not considered. The transactions are recorded at cost only. When an

Israeli military calculations towards iran Essay

Israeli military calculations towards iran - Essay Example Iran is also perceived by Israel to be offensive as it supports militant and terrorist groups that oppose Israel rule and existence. These groups are given financial help and military training and they include Palestine Islamic jihad and Hezbollah which threatens the security of Israel. The outrageous statements uttered by Iranian leaders and which are supported by the neighboring Arab countries clearly indicate that Iran is committed to ensuring that the state of Israel faces many problems ranging from terrorism to destruction of the whole nation. For example, Ahmedinejaad the president of Iran has denied holocaust and has threatened to wipe Israel from the map and has characterized Israel as an artificial state whose end is near. This verbal attacks are meant to enhance the primacy of Iran has a powerful country in the region, something Israel considers to be a threat to its security. Meanwhile in Israel the government is under pressure with how it is handling the terrorist groups, their continuous firing of rockets toward Israel and how the events are related to Iran’s outbursts. This pressure is revealed in the Sunday times newspaper which says that Israel has been preparing to attack Iran’s nuclear sites using nuclear weapons because the sites are heavily protected by thick rocks. To make sure that this happens, Israel president has appointed right wing politicians for example Lieberman and Effie Eitem who believe that all Israel enemies have to be subdued. However, USA the main ally of Israel has given mixed issue to Iranian issued.USA asserts that it will not allow Iran to have nuclear weapons but the chances of giving such approval are not there at the moment. USA is ready to strike Iran as long as there is believable intelligence evidence that it has weaponized its uranium programs. Attacking Iranian nuclear require complex planning because most targets are far

The Industrialisation And Globalisation Of The World Economy

The Industrialisation And Globalisation Of The World Economy Due to the industrialisation and globalisation the worlds economy became as a single market where the business can be done across the world this made edge to edge competition among the organisations. Due to the huge competition and necessity to expand globally made the organisations to make them self strong and specialised by concentrating on external and internal aspects like recruiting highly skilled employees, giving advanced training to employees, introducing advanced technologies etc. and changing their dimensions according to the changes of the worlds markets. Employees are very important to an organisation. The success of an organisation depends on the skills and ability its human resources. Human resources are the major/ important determinant of the company performance over the long term (Ronald R.Sims, 2002, p.1). My company value is zero (0) from 6 pm to 9 am because there will be no employee (Narayana murthy, CEO ). According to Budhwar and Debrah(1984) in an organisation human resource is the easiest resource which can manage easily and same way human resources are the toughest resources to manage. According to Grandhi Malikarujna rao (2008) if u manage, utilize and control the human resources of an organisation then 90% of the organisation is succeed. About company: Vodafone is the first UKs mobile company which made call at past midnight on 1st January 1985. 1/3 of the new customers are connecting to Vodafone. In 1982 the Recal Telecomms (Division of Recal Electronics group) renamed as Vodafone having less than 50 employees in one building. Now it is operating in 27 countries across 5 Continents, 186.8 million customers and 33 partner networks. Sir John Bond is Chairman and Vittorio Colao is Chief Executive of Vodafone. (Home page, History, Meet the Board) Vision: The long term goal of the company is to be a leader in mobile communication by enriching customers lives, helping people, business and communities across the globe to get connected. Team Building: This is a fairly general term that is used in a number of different ways. It can cover either what you are trying to achieve or how you are trying to achieve it or both! The following cover most of the options: Team building is developing working relationships. Team building is improving the performance of the team. Team building is outdoor activities that challenge the individuals within the team. Team building is about improving motivation, communication, support and trust within a team. A Team-wise team building event will be is great fun however they have been developed with several aims in mind: Working relationships will be developed People have to work together and by doing so colleagues will develop more effective working relationships with team members who are new to the team and with team members who have been part of the team for some time. Shared positive experience The whole day is very memorable, team members will be talking about it for the rest of the year. As such colleagues will share a positive and memorable experience which further develops bonds. Strengths and talents Everyone gets fully involved in the day and their are lots of different roles so team workers will see their colleagues in a whole new light and will have a greater understanding of their strengths and talents. Teamwork Everything during the team building day clearly requires teamwork and as such team members will leave with a greater awareness of how teams work and how to make them work better. Reward Staff enjoy the day and feel that the company cares about them. According to Brill (1976, p.10) that work which is done by a group of people who possess individual expertise, who are responsible for making individual decisions, who hold a common purpose and who meet together to communicate, share and consolidate knowledge from which plans are made, future decisions are influenced, and actions determined. According to Cannon-bowers A team is set of two or more individuals who interact interdependently and adoptively toward a common goal or objective. In addition, team members have specific roles or functions and the span of memberships is limited Vodafone employees spread in different locations has to interact in a multicultural environment with employees from diverse cultural and geographical backgrounds employee training from the core part of facilitating process of living the employees to a common organisational culture. Stages of Team Building: Forming: When a new team forms, the team members are new they dont know with each, they dont know the tasks what to do, what are punishments and rewards if the tasks are performed and not performed so the team leader should arrange the meeting (group meeting) and make clear about the goal of forming team, individual tasks, rules and regulations, rewards and punishments. Storming: If any problems arise in the team, the leader should bring all the members together by dialogues and make them to work towards the goal and objectives of the group forming. This the crucial part which effects the team performance if the team members does not have proper co-operation then the team leader should arrange meeting(group meeting) as early as possible and make the team perform well. Norming: In this stage team leader reduces his tasks himself and encourages the team members to take over load ( more tasks). He spends more time individually with each member and reviews their performances and motivates them to achieve the goals. Performing: Team leader should make the team members to perform well in order to achieve goal. Team leader should encourage the team members to complete their individual tasks within the time. Adjourning: This is the lost stage where the performance of the team and individual is analyzed, rewarding for the best performers in team and splitting/ separating the team officially. Learning and development in Vodafone: Learning and development is centred on quality excellence and efficiency. The main focus area is to develop the existing human capital (human resources) in line with the ever changing face of the industry and make the employees a more stable and most motivated work force with more opportunities for growth and development within the company using the latest development in learning technology. The company recognises the importance of on the job learning obtain through different assignments which are Taylor made to suit interest and provide an opportunity to develop the skills for preparing them for new roles with in Vodafone. Interaction with group in Vodafone: The annual people survey where the employees interact formally through performance dialogues with line managers from the bases employee engagement programs in Vodafone. The relationship between employee feedback and informal performance is co-related .the focus is on improving situations where employees are performing poorly. One of the main concerns is to use feedback strategies that improve the areas of poor performance and to evaluate negative feedback received by the company. This involves processing the feedback between the employee and the supervisor and identifies areas of improvement .From the employee perspective the process is motivated to maintain a positive self esteem for the supervisor and rooted in the reluctance to give any negative feedback (James .R. Larson, JR 1969). The various initiatives are targeted at improving informal and formal communication in the company. As part of working in the group people Work as a group through team meetings and interaction with group managers. All employees interact with others using the internet site using it for formal engagements and through online discussions and engagements as well as through blogs and wikis .online team rooms facilitate information transfer with subsidiaries with email news bulletin and Internal TV Channel. Conflict management Organizational managers do not view management conflict as strategic as managing information ,but this is changing gradually and the current view is to manage information and human resource and align it with financial systems .normally the conflict management is dealt with on two fronts ,one is emotional and one is strategic were it is aligned with the total business goals of the company .relationship conflict is concerned with the idea of addressing interpersonal incompatibilities and involves reducing tension within the group and solving personal issues and settling annoyance and frustration which can act as negative factors in a company s growth. A company like Vodafone with several subsidiaries should have a centralises system in conflict management and should be treated as a strategic issue rather than one which is solved emotionally and out of the book. This can go a long way in creating a congenial environment for emotional and intellectual growth. Internal communication within the group Every organization looks out for effective means to communicate within the group and the key to success lies in effective communication within the organization. A change in management can distort communication channels within the organization. The example of this can be seen in the takeover of Hutchison Essar in March 2007. The sudden change in management has displaced communication channels in its Indian subsidiary. The solution was not to distort the existing in the newly acquired company. The model the company adopted has similarities to the research paper published by (Tony Proctor 2003) Leadership within Vodafone Organizational culture has to age and has progressed to be critical in defining the work culture in the company .unbiased approach and fairness has to be key aspects that govern the policy in an organization. Large organizations like Vodafone face coordination problems in different levels in the organization. The three core areas were management in contemporary organizations face problems are the issues related to transformational management .the leadership has to facilitate the performance of collective tasking in the organization. Some research like (Garry Yuki 2002) suggests that managing and leadership should be treated separately .in publically listed companies there is an increased influence to satisfy the expectations of stakeholders. The contemporary roles of leaders have change, long gone are the notions of military leaders who use to win battles .the current role of leaders have changed and the ability of managers is there ability to turnaround failing organizations into successfully managed profitable ventures. The contemporary example can be the turnaround of automobile Giant Chrysler Corporation under the charismatic leadership of Lee Iacocca (Fried .E.Feidler 1996). For an organization like Vodafone there has to be synergy of various styles of leadership like: Emergent leadership The behavior of persons within the group and their ability to perform as a group is crucial in defining successful process of building leaders in the organization. Knowledge acquisition by first line managers is equally important and much research has successfully established it helps to lever ones core competencies and achieve competitive advantages. There is another factor which surrounds this which says about the co-relation of leadership and job satisfaction. (John .D.Politics 2001). An emergent leader is mostly situational and does not possess any serious traits of a leader. The ability to accomplish goals within a specified time defines the Emergent leaders. There are mostly selected out of intuitions rather than any pre planned strategy. The other theory is centred on effectiveness where effective is measures by conducted assessment of previous work and similarities between suitable traits and the leader is analyzed. The assessment even though is formally assessed is not fully standardized and uniform, which therefore can have variations is implementation. The core centre of this theory is that it is centred around the concept that those who are socially adept and bright are more set to be prospective leaders in the future. Succession management policy Vodafone a global company were succession planning has to be carried out at different levels. And it has to be relevant and engineered to suit. The most important aspect is to cater to the gap between the is planned and what is achieved. The focus should be on how leaders can be relevant and reengineered to remain relevant and make it suitable to suit the organization. The changing expectations of the society and accelerated changes in business leadership .the workplace is becoming increasingly diverse and every effort has to made to see that women ,minorities ,ethnicities has to be taken care of in the Global context. Coclusion:   Books Naomi I. Brill (1976). Teamwork: working together in the Human Services. Toronto: Lippincott. P5-11. Ronald R. Sims (2002)Organizational success through effective human resources management. p1-5. Pawan S.Budhwar and Yaw.Debrah (1984). Human Resource Management in Developing Countries. 3rd ed. Londan: Routledge. Articles Janis A. Cannon-Bowers and Eduardo Salas . (1998). Team Performance and Training in Complex Environments: Recent Findings from Applied Research. à ¢Ã¢â€š ¬Ã‚ ¢ Current Directions in Psychological Science. 7 (3), 83-87. Osama Abudayyeh. (1994). Partnering: A Team Building Approach to Quality Construction Management. Journal of Management in Engineering. 10 (6), p26-29. (Source: http://cedb.asce.org/cgi/WWWdisplay.cgi?9404719) News Papers Interview with Narayanamurthy (Founder of Infosys)by eenadu Business Desk. http://www.eenadu.net/newarchive.asp Interview with Grandhi Malikarjuna Rao (Chairman of GMR Group)by eenadu Business Desk. http://www.eenadu.net/archives/archive-24-1-2010/buisnesshead.asp?myqry=9HYPERLINK http://www.eenadu.net/archives/archive-24-1-2010/buisnesshead.asp?myqry=9reccount=11HYPERLINK http://www.eenadu.net/archives/archive-24-1-2010/buisnesshead.asp?myqry=9reccount=11reccount=11 websites http://www.team-wise.co.uk/defintion_of_team_building.htm accessed on 4/3/2010

Winston Churchill :: essays research papers

Those eleven burning words summed up the nature of Britain's war, turned Britain's back on the weaknesses of the past, set her face toward the unknown future. Because of them the rest of that speech has been forgotten. It should not be forgotten, for it is not only a great example of Winston Churchill's eloquence, but the epitome of the movement which he leads. After a brief report on the formation of his Government, Winston Churchill said: "You ask, what is our policy? I say it is to wage war by land, sea and air--war with all our might and with all the strength God has given us--and to wage war against a monstrous tyranny never surpassed in the dark and lamentable catalogue of human crime. That is our policy. "You ask, what is our aim? I can answer in one word. It is victory. Victory at all costs. Victory in spite of all terrors. Victory, however long and hard the road may be, for without victory there is no survival. "Let that be realized. No survival for the British Empire, no survival for all that the British Empire has stood for, no survival for the urge, the impulse of the ages, that mankind shall move forward toward his goal." December 31, 1940, was not only the end of a year; it was the end of a decade--the most terrifying of the 20th Century. The decade which ended in 1920 had seen a war that was to prove inconclusive. It had seen a revolution that was to lie quiescent after establishing itself in the largest country of the world. The decade which ended in 1930 was one of confusion and wasted energy--the wasted energy of gambling and gin-drinking in the U.S., of civil war in the Far East, of misdirected revolutionary effort from the U.S.S.R., of the attempt in Europe to hold resurgent peoples in check. The decade which ended this week saw the failure of that attempt and the unleashing of ruthless war. It saw the Far East's battle of warlords turn into a war for the supremacy of one people. It saw the U.S. turn to a feverish effort to protect itself and its neighbors. It saw, in the Battle of Britain, the life-&-death struggle of the greatest empire the world has ever known. The Candidates of 1940. No artist, no athlete, no scientist, only a man whose place was on the stage of world politics, could be Man of 1940--last and stormiest year of a stormy decade.