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Marketing

In: Business and Management

Submitted By louisemcnair1942
Words 4335
Pages 18
Fabio Michelle, E. (2009, August). Can Fashion Designs be Copyrighted? Retrieved from Legal Zoom: http://www.legalzoom.com/articles/can-fashion-designs-be-copyrighted
Fashion Market Research & Business Solutions. (2015, January). Retrieved from NPD Group: http://www.npd.com/wps/portal/npd/us/industry-expertise/fashion/
Jeremy, Y. R. (2015, February 2). Plus-Size Model Makes History. Retrieved from Here & Now: http://hereandnow.wbur.org/2015/02/02/tess-holliday-plus-size-model (Fashion Market Research & Business Solutions, 2015)
Fabio Michelle, E. (2009, August). Can Fashion Designs be Copyrighted? Retrieved from Legal Zoom: http://www.legalzoom.com/articles/can-fashion-designs-be-copyrighted
Fashion Market Research & Business Solutions. (2015, January). Retrieved from NPD Group: http://www.npd.com/wps/portal/npd/us/industry-expertise/fashion/
Jeremy, Y. R. (2015, February 2). Plus-Size Model Makes History. Retrieved from Here & Now: http://hereandnow.wbur.org/2015/02/02/tess-holliday-plus-size-model

N2S Fashions Marketing Plan
MK2530
Mrs. De’Onn Griffin
January 10, 2015

EXECUTIVE SUMMARY
This two-year marketing plan is for North 2 South Fashion Boutique to secure additional funding for in-house fashion line and to inform employees of the company’s current status and direction. Although N2S Fashions was launched less than a years, the boutique has experienced greater-than-anticipated demand for its Plus-size Woman clothing line, and research as shown that the target market of plus-size-minded women retailers would like to purchase more than accessories and jewelry from the boutique, but also her clothing size 14-24 that N2S currently do not offers. The Plus woman is also interested in a new service, in-house alterations. In addition, N2S Fashions plans to explore opportunities for online sales. The new plus size line of clothing will be designed and constructed in-house. This line will be position by the slogan “CiS” which will mean “Curvy is Sexy”. The marketing environment has been receptive to the boutique’s high-quality goods—casual clothing in trendy colors with logos and slogans that reflect the interests of women age 17-30. Over the next two year, N2S Fashions can increase its distribution, offer new apparels, and win new customers. The primary marketing objective is to achieve first-year sales of a minimum of $50,000. Also, to introduce awareness in our community that we now service the plus size woman with not just a new fashion line, but trendy, fashionable and affordable clothing.

CURRENT MARKETING SITUATION
N2S Fashions Boutique was founded four months ago by entrepreneurs Jennifer Warren, has an associate degree in management and worked for several years in the retail clothing industry. Jennifer held two positions as assistant manager and manager called Goody’s located in Charlotte, North Carolina, before working as a supervisor at Charlotte 311 six years ago. Jennifer and Charlene, who are mother and daughter, decided to develop and market a line of clothing with a unique—yet universal—appeal to plus size woman. N2S Fashions Boutique reflects Jennifer’s passion for the New York, as well as, North Carolina fashions, both places where she reside throughout her life. The company’s jackets, vest, 2 piece sweater skirt sets, cardigan, jeans, leggings and original accessories pieces, showcase her love for North and South customers. But jewelry shows off the company love for purchasing items from local designers. N2S sells clothing for both casual and business women, in the hottest colors with the coolest names—such as sunrise pink, sunset red, twilight purple, desert rose, cactus green, ocean blue, mountaintop white, and river rock gray. In the near future, McNair’s 29-year-old-daughter, Jennifer, will expand N2S to other locations and allow the elder McNair to focus only on the design and purchasing involvement. N2S will seeks to use its core competencies to achieve a sustainable competitive advantage, in which competitors cannot provide the same value to consumers that N2S does. Already, N2S Fashions has developed core competencies in (1) offering a high-quality, customer service that is recognizable among consumers; (2) creating a sense of community among consumers who purchase the products; and (3) developing a reputation among plus women as a reliable boutique, delivering high-quality products for reasonable prices. The boutique intends to build on these competencies through marketing efforts that increase the number of products offered as well as online business.

COMPETITIVE REVIEW
By forming strong relationships with consumers, wholesalers, and suppliers of fabric and other goods and services, N2S Fashions believes it can create a sustainable competitive advantage over its competitors. No other boutique can say to its customers with as much belief “Curvy is Sexy”! 1. Competitive forces. We believe that the principal competitive factors in the apparel industry are design, brand image, consumer preference, price, quality, marketing and customer service. Although certain of our products carry over from season to season, the apparel industry in general is subject to rapidly changing fashion trends and shifting consumer demands. Accordingly, we must anticipate, identify and capitalize upon emerging as well as proven fashion trends. We believe that our success depends on our ability to continuously develop, source, market and deliver a wide variety of innovative, fashionable and saleable brands and products. These products must be offered at competitive prices in the respective distribution channels. Sales growth from our brands will depend largely upon our ability to continue to maintain and enhance the distinctive brand identities. 2. Economic forces. Due to the competitive nature of the apparel industry, there can be no assurance that the demand for our products will not decline or that we will be able to successfully evaluate and adapt our products to align with consumers’ preferences, fashion trends and changes in consumer demographics. As is typical with new products, market acceptance of new designs and products is subject to uncertainty. In addition, the introduction of new lines and products often requires substantial costs in design, marketing and advertising, which may not be recovered if the products are not successful. Any failure on our part to develop appealing products and update core products could limit our ability to differentiate our products. Additionally, such a failure could leave us with a substantial amount of unsold excess inventory, which we may be forced to sell at lower price points. Any of these factors could result in the deterioration in the appeal of our brands and products, adversely affecting our business, financial condition and operating results. 3. Political forces. There are no expected negative political influences or events that could affect the operations of N2S Fashions, however; Plus-Size Model are Makes History such as Standing at 5’5″ and wearing a size 22, Tess Holliday (real name Tess Munster) is the first model of her size to sign a major modeling contract on Monday, February 2, 2015. She’s already been named a top model by Italian Vogue, but made history in the fashion world last week when she announced that she is now working under MiLK Model Management, a U.K.-based modeling agency. (Jeremy, 2015) 4. Legal and regulatory forces. There are no expected legal nor regulatory faces to N2S Fashions. The new line of plus-size apparel cannot be Copyright. According to, Michelle Fabio, Esq., a (Fabio Michelle, 2009)freelance writer of Legal Zoom states, “There are a lot of questions involved in this issue but no easy answers. Unfortunately for fashion designers, though, it seems unlikely that Congress will even act on their request as it's already been sitting around for over a year with no talk of voting in sight”. 5. Technological forces. Technology continues to improve at an exponential rate. The best companies stay on top of technological changes and use them to get more work done in a shorter period of time. Marketers must be aware of the changes that may affect their businesses and industries. New devices, strategies, and techniques can help businesses stay ahead of the competition and avoid obsolescence. 6. Sociocultural forces. In today’s society, the plus-size woman clothing industry represent nearly $16B of retail revenue and account. 67% of the apparel-purchasing population. The plus-size population are revolutionizing fashion. And not nearly enough retailers are paying attention. For too long, this sizable and growing segment has been ignored. Treated shabbily, ostracized by the “pro-skinny fashion world,” and seemingly discarded by designers, department stores, and retailers alike, plus-size fashion consumers, critics, and bloggers are taking back their spending and sartorial power and, in turn, changing both the e-commerce and retailing landscapes. No longer content to sit on the fashion and retail sidelines, plus size thought leaders and consumers are changing the rules of the retail game and making the fashion world theirs.
Make no mistake: the plus size revolution is upon us. And it’s time the world takes notice. Tired of rude salespeople, uncomfortable and unpleasant shopping experiences (really, why would ANY retailer treat poorly a valued customer eager to spend?). Instead of simply accepting the fashion industry’s refusal to acknowledge this marketplace, these key players have created a community that rewards those retailers eager to cater to the plus size shopper while punishing those shops that fail to live up to traditional consumer standards.
With the plus size market currently divided between a few although in most cases, lazy mass-production retailers and 1,000’s of city or region-specific independent boutiques catering to individuals within a few dozen mile radius, the plus size industry is positioned for a massive market shift. What’s this mean? Like many industries before it, the plus size clothing world is poised for merging for smaller regional (or city specific) boutiques to roll up with each other, which in turn will streamline backroom operations, normalize distribution processes, and create the online presence and experience, thereby creating stronger, more efficient systems, operations, and delivery processes through which to better supply and serve this underserved and underappreciated (but quickly growing) marketplace.
In short, the plus size market is writing and demanding and purchasing its way toward creating the retail experience and product it deserves: trendy, quickly-turned, affordable and transitional clothing options sold in a positive (yet profitable) atmosphere. And it’s time the retail world starts listening.

TARGET MARKET
When it comes to women’s clothing sizes, there’s some funny math going on. The average American woman is about 25 pounds heavier than she was in 1960. Yet women’s plus-size clothing, generally defined as size 14 and up, still makes up only about 9% of the $190 Billion spent annually on clothes. What’s wrong with his equation? It’s not that plus-size women aren’t into fashion. Rather, the fashion Industry doesn’t seem interested in them. The fashion industry has long spent more time, money and marketing on clothing for taut bodies than for curvier ones because it’s easier and more profitable to do so.
The Plus-Size Women's Clothing Stores industry is characterized by a low level of concentration, with the top four companies accounting for less than 40.0% of revenue. Major players in this industry have numerous retail outlets throughout the United States, while smaller players are generally independently owned and operate on a local level. Of all the plus-size women's clothing, about one-quarter are estimated to be nonemployees, while about 95.0% of employer firms have fewer than 20 employees.
In the past five years to 2014, the concentration of plus-size women's clothing stores decreased. The large players lost market share in the poor economy while new, boutique and smaller retailers, players quickly gained market acceptance among the plus size consumers. Sales of plus-size clothing came in at a robust $17.5 billion for the year ended April 2014, according to a new report from NPD Group.
The market research firm said that’s a 5% increase from the prior year, and up just over a billion dollars from the $16.4 billion recorded three years ago. Revenue from plus-size apparel typically defined as size 18 and up, grew 9% for women 55 to 64 years old, which accounts for the most sales at $4.2 billion. Sales increased 23% for the 18- to 24-year-old age group, and 11% for 25- to 34-year-olds, the firm said.
Much of the growth has come from the web, which has given women who wear plus-size clothing far more shopping options than have existed in the past. Online retailer ModCloth said recently that it has doubled the size of its plus business since June 2013 — it’s also the company’s fastest-growing segment. Eloquii, a plus-size brand introduced by the Limited in 2011 but discontinued last year, was recently resurrected by some of its executives as an online-only brand.
ModCloth recently conducted a survey of more than 1,500 women, including those who wear plus-sizes and those who don’t, and found that 55% of U.S. women wear at least some clothing in size 16 and up. Further, almost 75% of the plus-size women surveyed agree with the statement: “The retail industry ignores the needs of plus-size women.”
Mass retailers have been trying to respond to these needs. Hot Topic’s plus-size chain Torrid has been expanding and Lane Bryant is reportedly collaborating with designers who haven’t previously been known for clothes in the plus-size category. Actress Melissa McCarthy also recently introduced her own plus-size fashion line called Pearl (Fashion Market Research & Business Solutions, 2015)

CURRENT MARKETING OBJECTIVES AND PERFORMANCE
This section describes the three-year marketing and product (service) objectives for N2S Fashions and the target markets, points of difference, and positioning of services offered.
Marketing and Service Objectives
N2S Fashion’s marketing intention, in my opinion, is to create excitement within current markets by showing the products as fun and fashion forward, and to open up the new high end specialty boutique theme to new markets with consumers who haven’t shopped with N2S in the past. * The objective is to sell more of these current products in current markets and relaunch our online business (market penetration):
Brand clothing
Accessories
* The objective is to sell these Plus-size apparel in current markets (product development): Casual Apparel
Dressy Apparel * The objective is to sell these current products in these new markets (market development): Spanx – new market of plus sized women who may need a more curvy figure, as well as; smaller size for our current customers.
The position that N2S has in the minds of the consumers in relationship to the competition includes a few different things. N2S customers know that when they come into the store they will receive personalized attention and sales associates will be honest and go above and beyond just helping them find their size. They also know that the products they purchase will be on trend and great quality.
The boutique is currently debt free except any current monthly bills which are paid on time each month. The need for cash to fund operation in the meantime makes it necessary for the company to borrow money to lunch this new plus-size apparel line.
North 2 South marketing objectives include increases in both revenue and profits of approximately 10 percent over each previous month. Revenue should increase approximately $50,000 additional per our original budget.

BREAK-EVEN ANALYSIS

N2S Fashion break-even analysis table has been completed on the basis of average costs/prices. With fixed costs of $7,059, $50 in an average sale, and $10 in average variable costs, we need $8,824 per month to break even.

Break-even Analysis:
Monthly Units Break-even 176
Monthly Sales Break-even $8,824 Average Per-Unit Revenue $50.00
Average Per-Unit Variable Cost $10.00
Estimated Monthly Fixed Cost $7,059

Ratio Analysis
Profitability Ratios: FY2015 FY2016 FY2017 RMA
Gross Margin 84.80% 90.04% 92.59% 0.42
Net Profit Margin 27.03% 43.00% 51.14% 1
Return on Assets 60.01% 60.49% 48.88% 0
Return on Equity 148.02% 78.22% 55.58% 0

Activity Ratios FY2015 FY2016 FY2017
Inventory Turnover 2.18 4.00 4.00 0
Accounts Payable Turnover 6.68 12.17 12.17 0 Total Asset Turnover 2.22 1.41 0.96 0 Debt Ratios
Debt to Net Worth 1.47 0.29 0.14 1.4
Short-term Liability to Liability 1.00 1.00 1.00 8.3 Liquidity Ratios
Current Ratio 1.68 4.41 8.30 1.2
Quick Ratio 1.54 4.26 8.16 0.1
Net Working Capital $34,244 $157,264 $354,021 0
Interest Coverage 20.07 47.28 75.02 0
Additional Ratios
Assets to Sale 0.45 0.71 1.05 0
Debt/Assets 59% 23% 12% 0
Current Debt/Total Asset 59% 23% 12% 0
Acid Test 1.54 4.26 8.16 0
Asset Turnover 2.22 1.41 0.96 0 Sales/Net Worth 5.48 1.82 1.09 0 Dividend Payout $0 $0 $0 $0

SWOT ANALYSIS
The marketing environment for N2S Fashions represents overwhelming opportunities. It also contains some challenges that the boutique believes it can meet successfully. Table A illustrates a SWOT analysis of the boutique conducted by marketers to highlight N2S’ strengths, threats, opportunites, and weaknesses.
The SWOT analysis presents a thumbnail sketch of the boutique’s position in the marketplace. In just four months, N2S Fashions has built some impressive strength while looking forward to new opportunities. Its dedicated founder, the growing number of brand-loyal customers and sound financial management place the boutique in a good position to grow. However, as N2S Fashions considers expansion of its fashion line and enter into new markets, the firm will have to guard against marketing myopia (the failure to recognize the scope of its business) and quality slippages. As the company finalizes plans for plus-size apparel and expanded Internet sales, its management will also have to guard against competitors who attempt to duplicate their products. However, building strong relationships with consumers, wholesalers, and suppliers should help hinder competitors.

MARKETING OBJECTIVES
To accomplish its marketing objectives, North 2 South Fashion have to determine what channels and messages are more likely to appeal to plus-size audiences. The more targeted our niche, the more unique the marketing tactics we can produce. The demographics of the target audience of Plus Size Clothing are the average woman, who is now at least a size 14. She is classic, trendy, active, and looking for comfortable clothing in her size. North 2 South Fashions customers shop for style, not just for size. She wants a fit that flatters her, and by offering the latest silhouettes, fabrics and accessories, N2S will be the premier choice for her.
These active consumers represent a demographic group of well-educated and successful individuals; they are single or married and raising families. Household incomes generally range between $35,000 and $65,000 annually. Despite their comfortable incomes, these consumers are price conscious and consistently seek value in their purchases. Regardless of their age (whether they fall at the upper or lower end of the target range), they lead active lifestyles. They are somewhat status oriented but not overly so. They like to be associated with high-quality products but are not willing to pay a premium price for a certain brand.

MARKETING MIX
The four marketing mix (4 P’s) elements of the North 2 South Fashions marketing program are detailed below. 1. Product. N2S Fashions currently offers a line of moderate-quality apparel items including dresses, tops, bottoms, jackets and outer wear jackets. Over the next two years, N2S plans to expand the product line to include plus-size clothing, in-house alterations, and customized clothing items. Then they can add a slogan their slogan “Curvy is Sexy” a. The second way in which N2S plans to expand its product line is to offer items overnight bags & duffel —two sizes of duffel bags, two sizes of tote bags, and a daypack. These items would also come in trendy and basic colors, with a choice of logos and slogans. In addition, every product would bear the N2S logo. 2. Pricing. As discussed earlier in this plan, N2S Fashions products are priced with the competition in mind. The boutique is not concerned with setting high prices to signal luxury or prestige, nor is it attempting to achieve the goals of offsetting low prices by selling high quantities of products. Instead value pricing is practiced so that customers feel comfortable purchasing new clothing to replace the old, even if it is just because they like the new colors. The pricing strategy also makes N2S Fashions products good gifts for birthdays, graduations, or “just because.” The customized clothing will sell for $10 to $20 more than the regular N2S logo clothing. The duffel bags will be priced competitively, offering a good value against it competition. 3. Distribution. In addition, N2S plans to expand online sales by offering the customized product line via Internet only, thus distinguishing between Internet offerings and specialty ship offerings. Eventually we may be able to expand to another location in the Carolina’s. Regardless of its expansion plans, Blue Sky fully intends to monitor and maintain strong relationships with distribution channel members. 4. Promotion. The company as well as its products is available on the Internet, direct mailings, and in person. The firms’ promotional efforts also seek to differentiate its products from those of its competitors. The company relies on personal contact with customers to establish the merchandise in their stores. This contact, whether in-person or by phone, helps convey the N2S Fashions message, demonstrate the products’ unique qualities, and build relationships. Nontraditional marketing methods that require little cash and a lot of creativity also lend themselves perfectly to N2S. Because N2S is a small boutique, a flexible organization, the boutique can easily implement ideas quickly.

MARKETING STRATEGIES
Target market 1: N2S have to find Brand Champions. Select brand campaigners, or influential people within our target audience, who will not only wear the plus-size clothing, but speak to its features, advantages and benefits over your competition. The goal is to get your brand champions wearing your clothing on record, preferably in photographs or videos. To find brand champions, look to local or national celebrities, and target wardrobe departments of local televisions shows or local magazines with characters in your target audience.
Target market 2: Now that we know the demographics of our audience -- age, education level, and where they live -- we can use psychographics, or personal characteristics such as values, interests and hobbies, to develop a content marketing strategy for our plus-size clothing line. Poll our customers to determine their psychographic information or use research from other sources. No matter who our customers are, a content marketing strategy should provide useful information that's frequently updated to keep the brand top-of-mind.
Target market 3: Adopt a Cause and develop our brand as clothing that cares by sponsoring causes that matter to our target audience. Launch a fund-raising effort linked to garment sales, such as giving a percentage of each garment sold to a charity or designing a shirt or accessory that raises awareness for a cause. Consider sponsoring an event linked to a particular charity, whether it's donating a t-shirt design or providing your merchandise to a charity auction in exchange for publicity at the event.
Target market 4: Host a Flash Mob Fashion Show. A flash mob is a group of people who come together in a public place in order to perform an unusual act for a short time before dispersing. Select a location where you are likely to reach many members of your target audience and launch a flash mob fashion show, where models walk around showing off our clothing for a short period of time before leaving. This unexpected act will get people excited and talking about our clothing line, we will have a mobile-friendly website ready for people who want to research our company on the spot. And we can never forget about POP up Shops. We go to a non-competitor, such as a local gym, and ask can we sell some of our merchandise for a short period of time and give away items and coupons to get the customers to our boutique.

Women want to look good no matter how old they are and no matter what body shape they have. They want to look good in clothes you sell, and they will if you respect and honor their body image. We’re not saying you should stop selling smaller sizes altogether, but why not add larger sizes to your inventory? Feature those lines in your digital marketing on your website, social media and email newsletters. Good press translates into sales in today’s culture of acceptance. Raise your standards and realize that holding true to a brand identity doesn’t mean putting down people who don’t fit your ideal.

CONCLUSION
Exclusivity doesn’t have to be defined by dress size. That said, there are plenty of companies that have stepped in to fill the gap in the marketplace – the one many designers have ignored. Savvy entrepreneurs have built thriving businesses serving women who couldn’t find attractive designer clothes anywhere else.
The fashion industry follows trends, and all women want the latest accessories, designer handbags, and dresses. Treating the public with respect means catering to their needs without judgment. Today’s shoppers love to share information online. Word spreads about businesses that engage their customers in a sincere and helpful way and provide more than a product. You can be that company. Don’t turn your back on this plus-size lucrative market.

Bibliography

Bibliography
Fabio Michelle, E. (2009, August). Can Fashion Designs be Copyrighted? Retrieved from Legal Zoom: http://www.legalzoom.com/articles/can-fashion-designs-be-copyrighted
Jeremy, Y. R. (2015, February 2). Plus-Size Model Makes History. Retrieved from Here & Now: http://hereandnow.wbur.org/2015/02/02/tess-holliday-plus-size-model…...

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...MARKETING PLAN RESEARCH DEFINITION: A marketing plan is a business document written for the purpose of describing the current market position of a business and its marketing strategy for the period covered by the marketing plan. Marketing plans usually have a life of from one to five years. PURPOSE: The purpose of creating a marketing plan is to clearly show what steps will be undertaken to achieve the business' marketing objectives. CONTENT OF MARKETING: A marketing plan for a small business typically includes Small Business Administration Description of competitors, including the level of demand for the product or service and the strengths and weaknesses of competitors. 1. Description of the product or service, including special features 2. Marketing budget, including the advertising and promotional plan 3. Description of the business location, including advantages and disadvantages for marketing 4. Pricing strategy 5. Market Segmentation The main contents in marketing plan are: * Executive Summary Brief statement of goals and recommendations based on hard data. * Environmental Analysis Presents data on the market, product, competition, distribution, macro-environment. (Product fact book) S.P.I.N.S. Situation “Where am I”, Problem identification/Implications “What is happening”, Needs Assessment “Why is it happening”, Solutions “What can I do about it” Market Situation: Data on target market, size and growth for past......

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...ASB-1104 Introduction to Marketing Assignment 1 In view of the dynamic nature of the marketing environment, to what extent do you consider consumers to be, in practice, central to marketing activities? Name: ZHUOMING AN Student No: 500356688 Tutor: David James Introduction What is marketing? The answer is not changeless. There are some different definitions about marketing. The Chartered Institute of Marketing define that "Marketing is the management process responsible for identifying, anticipating and satisfying consumers' requirements profitably." (CIM). Taking a concern into this definition, it indicates that marketing begins before a product or service is developed. In additional, it also explain that marketing involves identifying an unsatisfied consumer need or want and determining if a profitable opportunity exists. Another definition is that “A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others." (Kotler et al., 2005). The basic idea of this definition is that core to all marketing activities is customer satisfaction, which means marketing is an ongoing process as consumer demands and the environment is constantly changing. Products need to adapt as demands change. At the same time, marketing does not involve misleading, tricking or manipulation the customer. The Jobber also define the marketing is "The achievement of corporate goals through......

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...Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and providing superior customer value. From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. Organizations may choose to operate a business under five competing concepts: the production concept, the product concept, the selling concept, the marketing concept, and the holistic marketing concept.[1] The four components of holistic marketing are relationship marketing, internal marketing, integrated marketing, and socially responsive marketing. The set of engagements necessary for successful marketing management includes capturing marketing insights, connecting with customers, building strong brands, shaping the market offerings, delivering and communicating value, creating long-term growth, and developing marketing strategies and plans.[2] Marketing may be defined in several ways, depending......

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...Omar Rochell Marketing MKT/421 April 7, 2011 Nikki Jackson Introduction Marketing is exposed to someone every day, even when they do not seem realize it. Driving down the roads you see billboards everywhere and that is part of marketing. Logos people were on their shirts and signs in the middle or on the sign of football fields are all part of marketing. Even when a child is marketing themselves to their parents to borrow the car or go to a party they are marketing themselves to their parents in exchange for the car or the party. A set of activities that will benefit both parties’ objectives is my own personal definition of marketing. This paper will be defining marketing in different perspectives. Discussing the importance of marketing in a organizational success will also be discussed with examples included from different organizations. As an organization it is important to know what marketing is and how to establish success. What is Marketing “Marketing is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that will have value for customers, clients, partners, and society at large.”(American Marketing Association, 2011) Marketing is a process that helps links the consumer, customer, and public to information that will help identify and market opportunities. Marketing research will generate, and evaluate different types of market actions, monitor marketing performance, and help......

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...How does Marketing affect the Global Economy Introduction: Nowadays, the development of global economy is closely related to the Marketing which involves some professional behaviour to sell or promote the goods. There are no possibilities to push the economic growth without the strategies of the Marketing, on the other hand, the Marketing cannot be separated from the global economy. During the financial crisis, the amounts of global transaction declined keeping company with the economic recession. In this case, it illustrates directly the interaction between the Marketing and the global economy. Not only does the Marketing play a fundamental role in the development of the micro companies’ economy, it is also irreplaceable for the progress of the society and the prosperity of the macro economy. However, it is hard to maintain the favourable condition between the Marketing and the global economy always. This essay is intended to explain what Marketing is and the affection to the global economy. Main body: Part 1: The conception and the meaning of the Marketing and the global economy A: The Marketing Philip Kotler once elaborated that Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with other (1991). However, it is difficult to get an accurate principle of Marketing because of various interpretations from different researchers. To give some examples, referring......

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...Marketing is an expansive area of expertise that encompasses many different areas, skills and job descriptions. According to Merriam-Webster, broken down to its basic form, marketing is defined as: “The activities involved in making people aware of a company’s products and making sure that the products are available to be bought.” Working in a marketing position involves showcasing a company in a positive light, showing why customers should purchase products and drawing in a targeted audience to consider goods and services. But what does a marketer do? Unfortunately there isn’t one set job description for everyone in this position. But we connected with marketing pros to give you a sneak peek at three common types of marketing. Taking a closer look at these options will help you determine if this field is right for you. 1. Digital marketing Digital marketing is just what it sounds like: marketing that’s gone digital! This type of marketing utilizes the internet and all things technology to get the word out about products, services or companies. Digital marketing has a slew of benefits, according to Don Crow, CEO of Verge Pipe Media. He says two of the most obvious advantages are scale and cost. “Considering 70 percent of all phones today are smartphones, it's increasingly important that brands and organizations think about how to connect with consumers on this increasingly important digital device,” Crow explains. There are many jobs that fall under the......

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...BTEC LEVEL 3 BUSINESS P1-Describe how marketing techniques are used to market products in two organizations Introduction In this task (P1) I will describe and explain how different marketing techniques are used to market products in two different organizations. The first one being Cotswold wildlife park and the second organization being Tesco. Using these two organizations I will describe the marketing techniques that they used to market products. Marketing 1) Marketing is the action, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and the society at large. http://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx 2) Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others. http://www.marketingteacher.com/what-is-marketing/ 3) Marketing is traditionally the means by which an organization communicates to, connects with, and engages its target audience to convey the value of and ultimately sell its products and services. http://heidicohen.com/marketing-definition/ From the first definition of marketing, what I understand is that marketing is a process or activity that takes place by interacting directly to the customer or client. It is doing actions that will benefit the customer as well as the......

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...chapter 1 Marketing’s Role in the Global Economy When You Finish This Chapter, You Should 1. Know what marketing is and why you should learn about it. 2. Understand the difference between micro-marketing and macro-marketing. 3. Know why and how macromarketing systems develop. 4. Understand why marketing is crucial to economic development and our global economy. 5. Know why marketing special— ists—including middlemen and — facilitators—develop. 6. Know the marketing functions and who performs them. 7. Understand the important new terms (shown in red). www.mhhe. When it’s time to roll out of bed in the morning, does your General Electric alarm wake you with a buzzer—or by playing your favorite radio station? Is the station playing rock, classical, or country music—or perhaps a Red Cross ad asking you to contribute blood? Will you slip into your Levi’s jeans, your shirt from L. L. Bean, and your Reeboks, or does the day call for your Brooks Brothers interviewing suit? Will breakfast be Lender’s Bagels with cream cheese or Kellogg’s Frosted Flakes—made with grain from America’s heartland—or some extra large eggs and Oscar Mayer bacon cooked in a Panasonic microwave oven imported from Japan? Will you drink decaffeinated Maxwell House coffee—grown in Colombia—or some Tang instant juice? Will you eat at home or is this a day to meet a friend at the Marriott-run cafeteria—where you’ll pay someone else to serve your breakfast? After breakfast, will you head off to......

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