The team’s overall objective is to enhance the company’s performance goals while keeping cost low. First, the team will focus on ways to increase market shares. Increasing market shares will aid in the company in obtaining new and keeping current customers. This will mean branding Allround with stronger and more effective advertising messages. Advertising is the number one factor when communicating to customers informing them about the brands available and the variety of products offered to them (MSG.com).
Sunday, January 31st, 2016 Internal Assessment Research question: At what extent was Apple´s innovative Apple Watch marketing strategy successful when launching the device? In recent years, cutting edge technology has been the gap through which society had maintained daily basic activities, businesses such as Apple Inc., in the attempt maintain ahead and wider the advantage over potential competitors, seek the innovative development as an important key to better meet the needs and wants of their customers in the future, this factor represents the arise of new chambers in the market as a new opportunity of growth where a proper marketing strategy that involves a correct manage of price and the product features, enabled a beneficial introductory
Apple states in their Form K-10 Report (2017, p.1) they are “committed to bringing the best user experience to its customers through innovative hardware, software and services.” In an Industry where profit margins are low, technologies are constantly evolving and competition is high it is essential that Apple continues to offer innovative and simple products that increases customer experience (Heracleous, 2013) so to maintain a competitive advantage. A variety of tools have been used to evaluate Apple’s external and internal environment, including the PESTEL (Appendix 1), Porter’s Five Forces Analysis (Appendix 2), SWOT (Appendix 3). It is envisaged that the information derived from these tools and the associated analysis will support Apple’s CEO to make strategic decisions that addresses the challenges ahead in the short term, ensuring Apple can be competitive in the long term (Rothaermal, 2017). External Environmental Analysis PESTEL: Apple has a significant presence in the Asian markets in terms of contracted suppliers and through high magnitude of sales. This leaves Apple susceptible to significant political and economic risk both internationally and within the United States.
• Second benchmark is the Apple Company. Reason is simply because it’s been one of the 21st century’s most successful companies. Especially during the recent world recession; apple was still able to push substantial merchandise into the market. Apple’s marketing strategy and Customer relation can be incorporated into Land’s End for better productivity and customer satisfaction which will in turn increase profits. • Third company I will
While the business practices and strategies adapt to a continuously changing environment the company’s core vision remains the same. In an increasingly competitive global environment, without a clear vision, mission, objectives, strategies and goals the business will lack direction and may not survive. The relationship between the mission statement, objectives, strategies, goals and programs of Tesco Plc is that the vision, mission statement and goals are interrelated and state what an organisation is seeking to achieve whereas the strategies and tactics show how it will achieve them. Tesco’s core purpose (mission) is simple: to be the champion for customers, helping them to enjoy a better quality of life and an easier way of living. Tesco understands the idea behind that customers want great products at great value which they can buy easily and it's our job to deliver this in the right way for them.
The battle for consumer minds is a battle of perceptions not the products, thus, it is important for Nike to constantly engage with a differentiation strategy and tactical activities to stay ahead as the leader in global sportswear and apparel market. Below are some of the marketing strategies Nike can employ to further improve its sales to remain as the world’s number one: i. Personalized Marketing, also called personalization and sometimes referred to as one-to-one marketing. This is an extreme form of product differentiation in that it tries to make a unique product offering for each customer. Nike has engaged with this strategy through its Nike ID footwear, which is a popular line that has developed a strong follower amongst consumers, and should extend this concept to more product lines to gain more fans. Consumers are inclined to buy as they know they will be wearing their own personalized creations.
In the process of designing product strategies, the name and identification number of a product are always considered. Kotler 2008 also highlights this fact as it is well adressed by manufacturing companies that their product brand contain power , attracted from market. The American marketing association acknowledges brand as: the means of differentiation between sellers in terms of name , mark, phrase , symbol, sigh , any combination of these or any other feature of the product. Brand extension means using a prosperous brand image for a new and different product class ( arselan And altuna 2008). Brand extension is an action plan using existing and well recognized brand name to launch a completely distinct product class(guoqun and jiali, 2007
Marketing communications are known as the most visible aspect of the marketing mix that helps to enhance the brand awarness of the company. In order to prosper in the long term, any company needs to develop an effective marketing campaign to maintain the interest of the existing customers as well as to attract the potential buyers (Cai & Huang, 2011). Mass marketing is highly effective tool to catch the attention of the million buyers, however it will not help to construct the relationships with them. Therefore, the more personal communications needed, such as direct marketing, to understand the consumer’s needs. However, the integration of communication tools helps to overcome both challenges, as the mix helps to create the brand awarness
Literature review Advertising has become a form of communication and a great source for promoting services and products for any business in the whole market because of its broader impact. The main idea of an advertisement is to get the attention of the consumers, build up the product’s strong image in their mind and provide information to help the consumer to make a purchase decision. So, the central focus in today’s diverse global marketplace is the consumer. Companies exert a lot of effort to find out the best ingredients that should be in an effective advertising and identifying its influence on the consumer’s mind, so effective advertising should be considered as one of the most important tools that strongly affect and can change the consumer’s buying behavior. The research attempts to investigate the impact of effective advertising on the consumer’s buying behavior.