The marketing managers are the responsible for directing and entering a company to different markets by setting a marketing plans and strategies based on information allocated by studying the markets and defining the needs and wants of customers and come up with products that satisfy the needs of customers and gain the market Marketing Management Essay. "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 others." (Kotler et al, ). Marketing is a key aspect within a business and has several different functions Essays on Marketing Management Marketing Management of Cement Industry in India. Marketing management INTRODUCTION Marketing is an essential function The Importance of Marketing & Business Management. Marketing & Business Management Organization is important in the Market Assessment and
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The very first store opened on 1 September in Braybrook, Melbourne. Now essay on marketing management are 33 stores in Australia. Inthe essay on marketing management website was launched that made Masters Home Improvement win the title of Australia's first online hardware and home improvement retailer. Masters Home Improvement strives to provide marvellous shopping experience that consumer have never experienced before via marketing strategies. This essay will outline the marketing environment analysis of Masters Home Improvement in terms of macro and micro factors. Then, it will discuss the marketing approach.
In the end, essay on marketing management, some recommends will be given to Masters Home Improvement. Order custom essay Essay On Marketing Management with free plagiarism report. According to Kotler and Armstrongp. Retailing is a business with extremely people-focused, well-trained and professional employee satisfies the demands from customers that create triumph Masters Home Improvement, Masters Home Improvement has involved in training and education programmes which require every employee to participate at least hours job training before working to ensure that they can provide the professional services and assists to customers. Most of customers who try to furnish or decorate their house are not experts. Customers always confuses from materials, sizes to assemblage.
Therefore, it is an opportunity for Masters Home Improvement professional to operate with the strategy of well- trained employee. Read more about Tanglewood Case. A company must understand their competitors. Kotler and Armstrongessay on marketing management, p. For Masters Home Improvement, Bunnings is their biggest competitors. There are many similar strategies in Masters Home Improvement and Bunnings such as return policy and price promise. Both Masters Home Improvement and Bunnings offer return without reasons and 10 precents beat price policy Masters Home Improvement, and Bunnings, In addition, Masters Home Improvement and Bunnings accept any reason for return, yet there is a little different.
If return without essay on marketing management, Bunnings will provide exchange voucher as refund Bunnings, Conversely, Masters Home Improvement will provide returns card as refund which must be used within 6 months is less flexible. Therefore, Masters Home Essay on marketing management needs to adjust those strategies which are identifiable against Bunnings. Moreover, the number of available store location in Bunnings is nearly 7 times higher than Masters Home Improvement. On the other hand, Masters Home Improvement is inconvenient and unavailable for most customers.
Roy Morgan Research indicated that the annual average visit to Bunnings is 7 times while Masters Home Improvement only has 3 times. The way of competition with Bunnings is in terms of convenient and more shop cites. Marketing Environment Analysis—Macro Trends. The natural environment refers to the natural resources which are the materials of producing or which are influenced by marketing activities Kotler and Armstrong,p, essay on marketing management. While the human activities have become prosperous, the pollutions and damages of environment have increased dramatically. The thought of concerning and protecting environment has been proposed for many years.
The hardware field is one of the heaviest consuming businesses in natural resources, essay on marketing management, forests in particular. Masters Home Improvement Masters Home Improvement, said that they recognizes the importance of protecting environment and deliver the beliefs through their product. The actions of protecting environment including using the timbers within the concept of sustainability and well-managed or which are certificated by global forest certification organization such as PEFC. In addition, Masters Home Improvement developed a program to recycle and re-use timbers for increasing the efficiency of using timbers.
However, essential elements of operating a store essay on marketing management electricity and water should also be considered under environmentally friendly. Technology is one of most significant element which shapes our life in contemporary society and plays an influential role in marketing strategies Kotler and Armstrong,p. Technologies not only create new products but also create opportunities to marketers. Applications on smart phones and tablet computers are the typical innovation in this generation, and the of power influence of applications in marketing are unpredicted. Masters Home Improvement valued and launched an application on iPhone Masters launches real-time customer service app, Those functions realize all the requirements which can be completed online rather than only essay on marketing management be done in stores in the past.
According to Treacy and Wiersemathe strategy for company to achieve leadership positions is transferring superior value to their target customers. This statement can be essay on marketing management into four main principles including price guarantee, product diversity, professional assistance and well shopping environment appendix A. Masters Home Improvement is a corporate chain which has advantage to essay on marketing management in large quantities at lower price. And the primary message of Masters Home Improvement is to change customer behaviour from other stores to Masters Home Improvement to save more. Thus, Masters Home Improvement deliveries this concept through setting competition-based pricing that develops the price guarantee strategy.
Masters Home Improvement emphasizes the importance of product mix, so Masters Home Essay on marketing management provides more than 35, products which are up to 62 categories Masters opens first store, essay on marketing management, Although Masters Home Improvement develops the strategy of price leadership, this does not mean that Masters Home Improvement provides lower quality product. In fact, there are many famous brands which are available in Masters Home Improvement. Moreover, essay on marketing management, product diversity helps consumers to reduce costs in terms of searching and comparing products. Service is one of the most influences in shaping consumer behaviour.
Masters Home Improvement increases service variability on the concept of product leadership by offering complete both hardware and software assist. Every employee in Masters Home Improvement trains for 10, hours to ensure obtaining enough professional knowledge to assist customers Masters Home Improvement, In addition, there are help buttons which are set throughout the store to avoid missing staffer. Moreover, after-sale service such as return or assemble is concerned by Masters Home Improvement. As a result, Masters Home Improvement creates a field of diy-based information in their website, and is willing to solve any purchasing problem.
Shopping environment is the most silent influence in marketing, yet shopping environment can generate unconsciously positive connection with consumers. Therefore, Masters Home Improvement operates in a way of elaborateness instead of the stereotype of warehouse which was rough and simple, changes the situation that only men or who are interested in diy go to warehouse into no gender and household activity. Masters Home Improvement focuses on provide a comfortable shopping environment through air-condition, bright space and roomy pavement. The relaxing places such as restaurant and toilet which are also available in Masters Home Improvement are important traits of well shopping environment to make shopping essay on marketing management more flexible.
Also, playground for kids can make consumers shop without other worries Masters Home Improvement, Product refers to the connection of goods-and-services which company offers to target customers Kotler and Armstrong, essay on marketing management,p. Masters Home Improvement not only provides diverse products up to 35, but also offers many famous brands Appendix B. Diverse products basically contribute to various options that have the advantage to help consumers to save essay on marketing management such as searching time and transferring time and energy. Masters Home Improvement views this benefit as one of attractive strategy. Masters Home Improvement should concentrate on the products which are in the warehouse field.
Because, there are a lot of products which are not belong to warehouse campaign such as household electric appliances. In general, customers think that buying things in specialized stores has pledge to quality and lower price. Thus, some products such as wash machines and air conditions will not be consumed. Consequently, those products should be removed from essay on marketing management to reduce cost on storage, space and employee, essay on marketing management. Masters Home Improvement develops a strategy of price guarantee to ensure lowest price. However strategy is easy to imitate and is less identification.
Price guarantee is an important promise to ensure Masters Home Improvement provide better price than others. However, price guarantee cannot deliver brand concept and image which only be viewed competitive policy. Masters Home Improvement should emphasize price advance through brand image rather than policy. There are only thirty-three stores available in Australia since Masters Home Improvement opened their first store in Also, the location of Masters Home Improvement is near suburb, essay on marketing management. On the other hand, Masters Home Improvement is inconvenient. Masters Home Improvement should extend more stores in recent years. Masters Home Improvement said that they will execute the plan of opening sites in the next five years as cited in Reilly, In addition, Masters Home Improvement selects the locations in the condition of distance concerned which are close to population centre Reilly, There are three main types of promotion including trade month, special trade and trade member program Appendix C.
In general, catalogue refers to sale information or introduce of new products and there are many kinds of media to deliver message such as television, and websites. Masters Home Improvement successfully provides information through website and application on smart phones and tablets. However, Masters Home Improvement lacks development of paper catalogue. In addition, some prices in the catalogue are not apparent on sale Appendix D that leads consumer to distrust Masters Home Improvement and decreases the aspiration of going Masters Home Improvement. Masters Home Improvement should put clear tag for sale items and new products in catalogue. If products in catalogue only have price without any illustration, consumer needs to search extra information to understand the price that reduce the desire of going Masters Home Improvement.
Masters Home Improvement should value the development of paper catalogue. There are some customers who are active to connect information suit online information. Nerveless, most of customers are passive to wait for information. Paper catalogue is a key trigger to first effect which actively connects customers and helps consumer to recognize the brand or company. The atmosphere of Masters Home Improvement will keep the elements which refer to bright light, spacious sidewalk and offer food service to match the concept of elaborateness Appendix E. However, Masters Home Improvement should modernize which is in terms of free wifi.
Masters Home Improvement should provide free wifi in their stores. Most customer searched information on their smart phone or tablet computer before consuming. However, not every customer has wireless. Thus, if free wifi is available in store, customers can demonstrate what they want and have more efficient communication with staffer.
An Introduction to Market Segmentation
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The marketing managers are the responsible for directing and entering a company to different markets by setting a marketing plans and strategies based on information allocated by studying the markets and defining the needs and wants of customers and come up with products that satisfy the needs of customers and gain the market Marketing Management Essay. "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 others." (Kotler et al, ). Marketing is a key aspect within a business and has several different functions Essays on Marketing Management Marketing Management of Cement Industry in India. Marketing management INTRODUCTION Marketing is an essential function The Importance of Marketing & Business Management. Marketing & Business Management Organization is important in the Market Assessment and
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