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Marketing

NFL case

Introduction

Market research is essential in gathering information about the growing or decreasing trends with consumers. Market research is not only viable for consumers, but marketers representing major companies such that deal with household goods, food, cars, and in this case sports. Market research is conducted in several ways including standard phone surveys, mail surveys, focus groups, personal interviews, through observations, and online surveys. For this particular case the online survey conducted by the Harris Interactive group in New York, focused on the popularity of sports within the male population, including past favorites that have declined since the 1980’s using categories such as income, education, age, and race as determinant factors in sports favorability.

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Symptoms of Problems

Marketing research exists to address problems, not symptoms.  In most cases the symptom is only a consequence of a larger dilemma, but it is still of value.  More exactly, the problem may be clarified by properly examining the symptom (McDaniel, Jr., Gates  76).  A business may find, for example, that its line of casual clothing is doing well in Europe and the U.S., but selling poorly in Asian markets.

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Module:fashion and luxury

Table of Contents

Question 1………………………………………………………………………3

Question 2………………………………………………………………………4

Question 3………………………………………………………………………7

Question 4………………………………………………………………………9

References……………………………………………………………………..11

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Supply Chain Management at International Automotive

What do you believe has been the most difficult challenge for Salinas?

Paul Salinas had a lot of training and experience before he began working for International Automotive. He had spent several years in Germany where he went through phases of training on a weekly, monthly, and yearly basis. His training extended from administrative to, technical, business, and operational positions in manufacturing plants and supply chain management. His experience extended to the ability to speak in three languages, English, Spanish, and German. His qualifications along with extensive experience made him the perfect candidate to help to solve the supply chain problem at International Automotive. Salinas’s prime objective was to leading the plant out of the red, where they were monthly losing $1 million at a total of $12 million. The Supply chain was so important that the company defined it as, “the “strategic coordination of business functions within a business organization and throughout its supply chain for the purpose of integrating supply and demand management.”(Stevenson, 2009) Salinas was given plenty of objectives in order to regulate the supply chain management, shipment, packaging, and logistics.

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Marketing

Marketing plan flyer for XYZ construction

Executive summary

This paper will involve the development of marketing plan to that will be used in the marketing flyer to educate the potential customers about the construction services offered by the XYZ Company. XYZ is a construction company that provides construction services to the state and federal governments. It has very skilled work force that is able to provide such Horizontal construction services as road construction, airfields and bridge construction. The big work force of the company which reaches to about 4500 employees during the peak period of constructions are always ready to provide the required services and deliver the project within the set period and cost. The objective is that within the next twelve months, the company will be able to attract the private customers who need construction services (Langford, & Male, 2001).

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Elie Saab

Elie Saab’s core business is to serve the needs and desires of select customers for whom money is not an issue. Elie Saab’s core product is meeting its clients’ desire of having only the finest products that others may not have. The company’s actual products include dresses including made-to-order haute couture and accessories and its augmented products include one-to-one consultation with the designer and owner Elie Saab and lifetime warranties on certain products.

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Communication Plan Budget

Communication Plans required a great deal of research on the current market, and the techniques for effectively reaching the market. A combination of marketing, and advertising, as well as word-of-mouth generation is what many communication plans rely on. The budget is useful in outlining were resources will be allocated. The budget allows for mobility in knowing the limits to the strategies that the communication’s plan wants to do. The budget is broken down into four categories. Guerilla Marketing, Public Relations, Social Media, and Advertising. The percentage are equally split, and are used in categorizing the list of objectives and goals that the communication plan outlines

  • Guerrilla Marketing is 34% of the budget, the low cost strategy for marketers and advertisers. The objective is to create the realistic disaster ad in subways. According to the source, subway ad placement, and hiring one of the top ten advertising companies, Mullen Advertising Company will costs around $2 million.
  • Public Relations is essential in communications plans and are 38% of the budget. The objective is to hire Wyclef Jean that usually charges upwards of $100,000 an event, with additional costs for his personal needs, body guards, transportation, hotel, and travel. All the in direct and indirect expenses including, transportation, security, equipment, food, etc. Venue and insurance, not to mention prizes that include raffle prizes, and silent auction prizes. Not to mention the cost of producing press releases to wire services, and it includes email marketing will generally net over $2.7 million.
  • Social Media Strategies are 12% of the budget. It is expensive, to create website searches it usually cost upwards of $60,000, a successful Facebook, Twitter, and Instagram strategy will cost nearly $200,000, and that is projected at a medium price. PSA’s on YouTube will generally run to $2,500, including script, actors, equipment, time, and other indirect expenses. With a success viral video $50,000 per video.
  • Advertising is the last category and is 16% of the budget. The last expense is Video Marketing with PSAs. Video marketing will costs to be included with SEO on Google. Including the indirect and direct expenses, which will be included on Facebook, Twitter, and the rest of the internet.

These expenses all add up to $7.3 million for the communications plan, with consultant fee, and cushion for risks and indirect expenses of $1,000,000.

Work Flow

 

 

References

Edgington, Nell. “Calculating the Cost of Fundraising.” Social Velocity. (2009). Retrieved from http://www.socialvelocity.net/2009/10/calculating-the-cost-of-fundraising/

 

Foxx, Jimm. “What does a corporate web video cost? 25 Factors (with prices) that affect corporate video production costs.” One Market Media. (2010). Retrieved from http://onemarketmedia.com/blog/2010/03/what-does-a-web-video-cost-25-factors-with-prices-that-affect-video-production-costs/

 

“Freelance graphic design hourly rates. What should I charge?” Freelance Graphic Designer. (n.d). Retrieved from http://freelancegraphicdesigner.info/freelance-graphic-design-hourly-rates.php

 

“How Much Does Social Media Costs?” The Content Factory. (2011). Retrieved from http://www.contentfac.com/how-much-does-social-media-marketing-cost/

 

  1. Web. (2013). Retrieved from http://service.prweb.com/pricing/

 

“SEO Pricing.” SEO MOZ (2012). Retrieved from http://www.seomoz.org/blog/seo-pricing-costs-of-services

 

“Subway Advertising.” Blue Line Media. (2013). Retrieved from http://www.bluelinemedia.com/subway-advertising

 

“Website design cost, social media networking, enewsletter price.” 720 Media. (n.d). Retrieved from http://www.720media.com/taa-dixon-website-design-social-media-marketing-email-cost/

 

“Wyclef Jean Booking Agency Profile.” CTI. (2013). Retrieved from http://www.celebritytalent.net/sampletalent/1806/wyclef-jean/

 

“Video Marketing.” SpotMixer. (2013). Retrieved from http://www.spotmixer.com/create_video/public_home

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SOREL Company (PPT)

SOREL Company

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Marketing

ZMET in Customer Centric Marketing

Introduction

Zaltman metaphor elicitation technique (ZMET) can be defined as a patented market research device that enables marketer researchers to investigate the peoples thoughts or perceptions of metaphors. The tool is very important in marketing as it enables the researcher to determine other elements such as perceptions of people and attitudes that are not usually covered by other research tools that have been used in marketing. The device can be used to easily determine the changes in consumer behavior.  ZMET can be used to determine interplay between attitude, emotions, behavior and perceptions of consumers. It is the tool that embraces the qualitative approach in marketing and thus ensures researchers in marketing field obtain reliable and accurate results.

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Business case study on ALDI

  • What are the core elements of Aldi’s business strategy?

Aldi’s core elements of their business strategy are quality, frugality, and confidentially. This is a successful business strategy because it caters to the consumer base (Cateora, 2009). The consumer is often looking for quality products at low prices. There is always a market for this type of business.

The business also used a strategic plan to allocate resources (Cateora, 2009). Resources were used to the best of the company’s ability at a timely manner. There were not often products sitting in a back room waiting to be sold.

The company took an opportunity where they felt that the markets needs were not being satisfied by other retailers, and outlined a plan to satisfy these needs (Belch, 2009). This happened with their low cost strategy. In this market they were able to compete effectively. Though their products were quality products at a low cost, they still limited the number of available products. The products were of necessity, rather than want. They were able to successfully compete, but not overwhelm the market.

Competition included other retailers, such as Wal-Mart and Lidl. Wal-Mart was a major competitor in the US based on its size and product offering. However Aldi maintained lower priced private label products compared with Wal-Mart. In Germany, where Aldi started, Wal-Mart stumbled when entering market. Wal-Mart was nearly fined for selling below cost as well as zoning regulations hindered the size of their stores. This helped Aldi maintain their market share (Mitchel, 2005).

Lidl basically imitated Aldi in any aspect that it could. This included small stores, lower prices, and staff. Aldi and Lidl practiced extreme confidentiality, which helped Aldi stay successful. This confidentiality kept Lidl from obtaining all of their secrets to success.

Fortunately for Aldi, the store was considered a cultural institution in Germany. It was advertised as the true character of German lifestyle. This made the stare popular in the market. The success of Aldi was also helped by the ageing population and stagnate economy (Mitchel, 2005). Low prices are ideal in this type of market.

Aldi’s operates on a large scale, but offers that small business feeling (Mitchel, 2005). Many consumers prefer this to the corporate giants, which is also a plus for this business strategy.

  • Why has the company been so successful?

There is a vast array of reasons why Aldi’s is successful international. The business strategy is one of the greatest aspects of their success. Maintaining low prices on quality products is a great way to become successful, but can be difficult to maintain. There are many ways in which the company worked hard to maintain this strategy.

The first way is their list of secrets to success (Mitchel, 2005). They decided to keep it simple. It was not important to stock thousands of products in order to make a larger profit. They stuck with necessities. Only the products there were necessary to the consumer.

They also strived to earn their customers trust (Mitchel, 2005). They managed this through low prices, quality products, and a small business feel. All these effects led to the customer feeling comfortable and wanting to shop somewhere that was welcoming.

They set clear goals and followed them (Mitchel, 2005). They did not set unreasonable goals for staff or the company as a whole. They set concise, obtainable goals and worked hard to achieve them.

They worked on constant improvement (Mitchel, 2005). Products were tested six to eight times before sold within the market. Each employee pitched in on daily duties to help the business improve and grow. They set up an atmosphere that promotes teamwork and mutual success.

Know where you stand, but don’t waste time on budgets and figures (Mitchel, 2005). Numbers are always there to bring a business down. If the numbers are not considered overly important, a business can focus on the business. They can maximize customer growth through attention to details and needs.

Test now, perfect later (Mitchel, 2005). This leads for the products to become better over time. If they are tested and meet the quality criteria, they can be sold within the stores. After this happens, the products can continue to improve, giving the consumer more quality then they thought possible from a small retail chain with low prices.

Be fair to your suppliers and help them improve their business (Mitchel, 2005). Sometimes it can be difficult to remember that suppliers are also trying to run a business. If you help the suppliers to understand the importance of offering fair prices and retaining business, the suppliers will be more willing to help you maintain prices to keep your business going (Belch, 2009). Suppliers can work with companies on pricing. Prices are not always set in stone.

Practice management by trust and control (Mitchel, 2005). It is important to set clear goals for management and ensure that they obtain these goals. It is also important to trust the people who run the business. If trust is lacking, that employee should not be there. Trust that your management is doing everything possible to maintain success, but monitor them to know that this is true.

Talk in terms that people can understand (Mitchel, 2005). Any statement should be clear to the people who are receiving it. Ensure understanding so that no breakdown in communication occurs.

No matter how successful you are, stay thrifty and frugal (Mitchel, 2005). Though Aldi’s now has the buying power to increase their product line, build larger stores, and increase staff, they continue to operate small stores. When businesses get carried away with spending money, it hurts their profits. If it is not necessary do not do it.

Aldi’s uses all these secrets to success in the manner mentioned above. The implementation of this list has helped the company to attain success and maintain it. All businesses should take some cues from this business.

The doing without check list in exhibit 2 of the case study has also helped Aldi to be successful. This check list helps leaders to maintain their priorities. If it is on this checklist, it is not important. Focus on what is important, such as consumer needs.

The frugality of the company should also be mentioned again. They limit their product offering, operate small stores with minimal staff, and offer the lowest prices possible (Mitchel, 2005). This is a successful practice. The limited product offering allows customer to purchase needed items. Offering a little more than base items, however, does increase profit to some extent (Cateora, 2009). Operating small stores with minimal staff keeps overhead down. This allows for more profit, when there are fewer expenses. The lowest prices possible bring in more consumers.

There are usually two ways to operate. Offer products at high prices and sell fewer or offer products at low prices and sell in quantity (Belch, 2009). Both ways can be successful, but Aldi’s success is based on selling in quantity and not having items sitting a backroom. When inventory is excessive, that is money that sits on the shelves, when inventory is sold, that money goes into the bank account.

Overall Aldi’s is a very successful retailer. Another way in which they excel is by making customers excited about products that are coming in. The anticipation causes lines to form outside the doors. This happened in Germany with a low priced laptop. The laptop was priced so competitively, that the customers could not wait for it to be available for purchase; causing Aldi’s to become one of the largest sellers of computers in Germany in 2005. (Mitchel, 2005)

This company always delivers which is why it is so successful. Customers are excited to shop there. They are excited about the products. Their business strategy is very successful.

  • The business press criticizes Aldi for its slowing and almost stagnant growth, especially compared to its main competitor Lidl. What is your opinion?

Aldi should not be criticized for the slow growth that has witnessed. This slow growth can be tied to their strategy of success deemed by only the necessities. If they are growing slowly, yet successful, why should this be criticized? According to exhibit 10 within the case study, Aldi was ranked as the 12th top retailer, whereas Schwarz Group or Lidl is ranked 24th. This shows that though Aldi’s growth is slow, they are still more successful in the long run.

Another example of expanding to quickly can be seen with a hardware store called Builders square. This chain decided that they should expand quickly, however it was very costly to do so. The sales did not match the cost of expansion, causing the company to go out of business. Quick expansion can be dangerous. (Belch, 2009)

Just as Aldi’s does not add extra products to their shelves because one of their strategies is necessity only, they also do not want to add extra stores that do not fit into their strategy at this time.

The idea of being frugal is important here. Just because expansion can be viewed as more profitable, does not mean that this extra profit is needed at this time. It is important that Aldi’s stay focused to their business concepts.

A quick expansion could cause the company to lose sight of their original business concepts of quality, frugality, and confidentiality. Quality could be compromised if expansion takes precedence. Frugality could hurt expansion if the retailer lacks the necessary resources and manpower to expand. And confidentiality could suffer as the press tries to gain insight into the quick expansion.

  • What are the key challenges for Aldi’s expansion into other countries?

The key challenges for entering another country can vary for the retailer. They include cultural understanding, an understanding of international business, and an understanding of how their business will enter the market in a new country (Cateora, 2009). The international markets will vary greatly depending on the individual country.

The goal of international business is the same as if operations were solely based at home. The end goal is a profit (Cateora, 2009). An international marketing plan must be implemented to take into account all the variations of business within another market, such as competition, legal restraints, government controls, government controls, and even the weather (Belch, 2009). As the market changes, the business must change also.

Cultural understanding is important. It will be important for Aldi’s to consider what products are necessary in any given country. It is important to understand the economy of the country as well as the values of the people. With this understanding, the business will be better able to determine how to price, promote, and distribute their products. Packaging is another issue that will be involved here. Even product packaging must be appealing to the new customer base.

Aldi’s must have a grasp on international business. How do rules and regulations vary in each country? They can take a cue from Wal-Mart’s original entrance into Germany and how they almost failed (Mitchel, 2005). Competition can be an issue also, major competitors will vary and competitors that expanded sooner may have a larger market share. It is important for the retailer to know as much as possible to avoid failure.

It is also important to have an extensive entry plan (Cateora, 2009). This plan should consider all aspects of the new culture and how the retailer will face any risks or challenges. Advertising should start as soon as entry into the market is established in order to gain a foothold and start to gain some of the market share.

International marketing seems a novel concept at this point in time, however it is still difficult. Without the proper information and tools for entering a new market any business could easily flop.

Aldi’s plan for slow growth and movement should make any move more successful. The company plans carefully, strategically, and frugally. These acts should allow the company clear, concise, successful entry into many new markets.

There is always risk involved when running a business. As long as Aldi’s considers any risks and practices risk avoidance to the best of their ability, the company should continue to be successful. This could determine success in Germany or any other market they wish to conquer.

Works Cited

Belch, .. &. (2009). Advertising and Promotion. New York: McGraw-Hill Irwin.

Cateora, P. G. (2009). International Marketing . New York: McGraw-Hill Irwin.

Mitchel, J. (2005). Aldi: A German Retailing Icon. Barcelona: IESE.

 

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Building Brand Equity – FILA

According to Keller (2001), there are six main building blocks of brand identity. They are designed to create a unique connection with customers; salience, performance, imagery, judgements, feelings and resonance. Further, brand identity and equity building is a four-step process, which will be illustrated by the strategy described below. The four main steps of building brand equity are answering the following questions:

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Burberry’s market position relative to that of its competitors

The CEO decided that there was a niche for the brand between other labels such as Gucci, Armani in apparel, Coach, and Polo Ralph Lauren. They therefore had to establish its market position by focusing on a particular bracket and a particular price point. They knew they did not want to be at the cutting edge of the fashion industry. They knew that they did not want to just be classic since other brands were already being classic. They wanted to represent accessible luxury. They were separated from other brands by their functionality. Their products were functional as well as aspirational. They did a survey of the market to identify the gaps. They also figured out their need to position themselves while remaining true to their core values.

Case notes of Bravo’s elevation of the company

The success of the brand was elevated by the experience of the CEO. They had a goal to transform the brand from a tired outerwear manufacturer to a stylish, innovative and aspirational luxury lifestyle brand. The team that made up the management was highly qualified and had experience. The selection was based on people who knew where the gaps were, who knew what it took to succeed in a retail environment, who knew what price points people wanted and who knew what the customers wanted. They spent so much time redirecting things. This means that they had to redirect everything from revamping the company’s product line to overhauling the company’s distribution strategy. The result of the redirection was the fact that the brand was considered as the leading luxury brand across the world. They had a goal to maintain cachet and currency of the brand while expanding distribution and entering new product categories. This shows how the company was elevated to success.

Burberry’s customer base and its target customers

The customer base that has been established by the brand is wide. Its products range from women wear for men wear as well as accessories. The target customers now are the youth or the younger people. Dressing the youth is challenging as their needs are changing by the day. The company is therefore doing a research to be able to predict their needs and hence manufacture products that fits their tastes and preferences. The brand is widely recognized even in royalty. The inclusion of celebrities and the use of the products by celebrities has been a great boost to the brand. The brand is now widely recognized and especially because their products are accessible. Its customer base is established across the world.

Competitor brand

Burberry’s competitor brand is a Giorgio Armani Company that is an international Italian fashion house. It designs, manufactures, markets, distributes and retails its products and accessories. The brand is synonymous with high fashion. The name is highly prestigious in the fashion industry. It is a high-end label that specializes in women and men’s ready-to-wear, perfumes, glasses and cosmetics. The company has realized wide recognition around the world. It has ventured into other fields such as hotels and resorts and cosmetics. The target customers are men, women as well as children. The brand includes a collection of women and men’s apparel. Its key success factors include the distinctive products it has and the involvement in other ventures. It is also involved in quality cheap fashion.

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Strategic Marketing Concepts

Strategic marketing is a philosophy in which organization obtains their wants and needs by identifying a value, communicating it and delivering to its clientele base. Emtel is an international telecommunication company formed by the merge between Currimjee Jewanjee and International Cellular South African companies. It’s a leading mobile operator and telephone and the service system worldwide. Its branch in Mauritius was established in 1989 and became the first in Africa in1994 to launch 3G/UMTS services.

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Brand audit for FILA

The Fila Brothers opened their first shop in Biella, Italy in 1911 (Fila, 2013). The brand has gained ever increasing identity since that time. The brand includes shoes, clothing and other accessory. The company is recognized worldwide, with their head quarters in Seoul, South Korea (Fila, 2013). Fila is easily recognizable by the logo and has changed over the years with their consumer base.