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Was Eugene Gilbert considered the founder of market research?
Eugene Gilbert is often credited as one of the pioneers of market research, particularly for his work in the early 20th century. He conducted some of the first systematic studies of consumer behavior and preferences, laying the groundwork for modern marketing research techniques. While he may not be universally recognized as the sole founder, his contributions significantly influenced the development of the field.
Which of the following situations would create a buyer's market?
A factory laying off a lot of workers in the area.
When a company provides its advertising agency with a statement about a new product to use in designing an advertising campaign and this statement includes a description of the target market the pro?
When a company provides its advertising agency with a statement about a new product, including a description of the target market, it is laying the groundwork for a focused and effective advertising campaign. This information helps the agency tailor messaging, visuals, and media channels to resonate with the intended audience. By understanding the target market's demographics, preferences, and behaviors, the agency can create compelling content that drives engagement and ultimately boosts sales. Clear communication of these details ensures that the advertising strategy aligns with the company's overall goals.
What is the importance of a marketing strategy?
Strategy without tactics is the slowest route to victory; tactics without strategy is the noise before defeat". Sun Tzu - The Art of War. Marketing Strategy is something that helps companies achieves Marketing objectives. Marketing objectives help achieve corporate objectives and corporate objectives aim to achieve a competitive advantage over rival organizations. Firstly, a Managing Director or senior management team, or executive board of directors (who ever is in charge) decides on overall corporate objectives. One corporate objective might be to increase sales by X%. In order to achieve this objective the board might split it into smaller bite sized objectives, assigned to different departments. Marketing might get the following objective - Identify 2 new customer segments, or increase brand awareness by X%. Do you see how business objectives filter down through the levels of organisation within a company? Corporate objectives - corporate strategy - individual department objectives - departmental strategy - departmental tactics - departmental administration. Marketing strategy is all about how to achieve Marketing objectives, Marketing tactics is how to implement strategies, and administration holds the whole thing together. Referring back to Sun Tzu, the Art of War is a ancient Chinese text about military strategy, which in more recent years has become a common fixture on the desks of many business managers and it is packed full of military strategies both offensive and defensive. These strategies are as relevant to business today as they were to the Chinese military a 1000 years ago. The first chapter of this book is about laying plans. Planning and research are important elements to any kind of strategy, infact without this research and planning strategy is worse than useless, it is misleading and dangerous to the organization's ability to remain competitive. Sun Tzu famously said 'know your enemy as yourself; he who knows himself but not his enemy will win half the time; he who knows his enemy but not himself will win half the time; he who knows neither himself nor his enemy is sure to be defeated.' Common sense perhaps, but it does illustrate the importance of strategy. The marketing Guru Phillip Kotler, in his book 'Kotler on Marketing' writes that the process of planning is useful even if the plans themselves are not. Simply sitting and talking about strategies is beneficial because of the ideas stimulated. In marketing, planning means conducting an environmental audit - do a PEST analysis, SWOT analysis, Competitor analysis, and anything else you could think of to help you understand the environment in which the organization operates. Having done all this you should identify the key points and the most significant opportunities and threats facing the organization. You can use this information to develop a marketing strategy that focuses on the organizations strengths, addresses its weaknesses. The 3 types of analysis I mention above are all useful individually, but the most sophisticated method is to use them in conjunction with each other. Let them flow into each other, inform each other. I wish some one had told me that a long time ago. I didn't realize that (above) until the 3rd year of my degree. One academic who has written a lot about marketing strategy is Michael Porter who came up with a rather good model called 'Generic Strategies', here's a very good explanation: http://www.quickmba.com/strategy/generic.shtml. However, if you are not familiar with these concepts then it might be in more detail than you really need, or care about. I will summarize the model. There are 3 generic strategies that might achieve competitive advantage, these are Cost leadership, be the cheapest; Differentiation, have a better product; Focus, set your sights on a small niche in the market which you can satisfy very well. The reason I brought this model into it is because it is important to actually choose and achieve one of these strategies, some academics (Johnson and Scholes) think it is possible to effectively achieve 2 of the generic strategies at once but there is a general consensus that organizations shouldn't get 'stuck in the middle' of all the strategies and so not be able to achieve any effective strategy at all. A Marketing strategy provides consistency throughout the different elements of an organization's marketing mix. If an organization has decided to use a pricing strategy that indicates a high quality product and the marketing literature doesn't support this then there is a breakdown of strategy, it gives a confusing message and customers would thing 'hey, I paid a tonne for this product but it's a load of rubbish because they can't even put together a decent leaflet" or something like that. Strategy is the foundations upon which marketing campaigns are formed. If you ask the average Joe what marketing is the chances are they will say 'advertising and promotion' perhaps branding. This is a common misconception; marketing is the management process responsible for identifying, satisfying and anticipating customer requirements profitably (that's the Chartered Institute of Marketing's definition). The important words are 'management process' that implies a strategic function. If we take this literally then we might say if it's not strategic (directly or indirectly) it's not marketing; must be some other business function, some useless, ill-informed activity that is a waste of money. I wouldn't mention that to your boss though.
How does one arrive at a competitive pricing strategy for a multi-service practice where there are no specific products in question?
I believe this falls under the purview of Packaging.If your question is competitive pricing of services....then utilize ABC (Activity Based Costing) to determine the Cost per activity related to the service.Accumalate all such activities into a package and arrive at Cost per Package. Analyse the overall revenues that packages may stream in discounted over the next three years. You now have two points of Playa) Cost per packageb) Overall discounted cost per enhanced package.Example: Lets consider the example of an unsought service- Funeral Services.A bare service package may consist of only the Good and material i.e Coffin Box, Tomb stone etc. and Service rendered i.e Transportation, Grave digging and tomb stone laying etc..If this packaged into one bare package the Cost per package is simple the cost of Goods and all activities involved. which is point 1). Cost per PackageNow let say we had a more emotional and holistic approach, considering the fact that the dearly departed is a loved one of a very loving family ; then that family might be concerned on the regular maintenance and up keep of the grave.This may provide some innovation on the package deal and you may design a package with a contract to service the grave on a monthly basis for the next five years. This brings in more revenues per customer as it adds value to the package.This also outlays costs on the books of the funeral services company and simultaneous future revenues.The point is that relative to the two Cost Points above we have simultaneous two revenue points per customer.Thus througha value added package deal we can actually reduce the Cost per initial package activity to point b.We now have two Cost points ; futrther enhancements will give rise to more Cost Points per inintial package which will be lower than those of the bare package per se.Thus as part 1 we form several Cost Points.Part IILook at the Competition service offering and map their cost points for every degree enhanced service.Compare the two on a graph....you have your Pricing ranges. Now connect all the Cost points an a curve and their respective Profits per customer on another.You will find that while one curve (i.e ) Cost per customer falls the other rises with every degree enhancement. Now to detrmine your operating point look for the largest differences in adjoining price and cost points.Now, all you have to do is determine a package and its adjoining price....best of luckFirst - by "product" I asume you mean tangible goods? Because products are both tangiblew goods and (more importantly (intangible) services. Buyers will always focus on the intangilbels - services first - because that is where the primary benefits to them are - not in the tangibles.Pricing using a costing method is of secondary use in answering this question. Buyers do not care what your costs are.Buyers are seeking to maximise their "value" in any purchase - so use a value based method. What is it your customers value about the sort of services you offer? Can you ascertain how they think of value in relation to your services? The Marketing Association of ANZ has a number of papers and short courses on this topic.
Why is the firm Ortak laying off employees?
Ortak is a company based in the Orkney Islands in the north of Scotland. They design and make beautiful jewllery but have recently had to enter voluntary administration and lay off some employees following a downturn in their profitability.
What is an example of indirect cause?
An example of an indirect cause could be a company laying off its employees due to a decrease in consumer demand caused by a recession. The recession indirectly leads to the job cuts by impacting the company's revenue and necessitating cost reductions.
What are the ingredients in laying mash?
The ingredients in laying mash is corn, sorghum, vitamins, and minerals. The amount of each ingredient depends on the company producing it.
When you lay an employee off how does it affect the company financially?
laying off an employee affects the company financially because it saves on staff salery which may help the company stay afloat
What is layoffs through attrition?
When a company wishes to layoff the workforce, but instead of directly laying off, creates an uncomfortable work environment--either giving employees nothing to do--or otherwise making them feel unwanted in the position. The employee voluntarily leaves--effectively being laid off, without the company being responsible for any increase in unemployment compensation premiums. This also gives employees time to seek new employment, but, ultimately, it is a bad and unethical practice. Large organizations often resort to this manipulative tactic.
Which are the companies offering data entry works in contract basis from technopark?
According to the blog for Technopark, due to the recession, many companies are actually laying off employees.
A company that is closing factories with unused capacity and laying-off workers is likely following a strategy?
A buyer's market.
Why does my cat only come to me when I'm laying down?
Cats may come to you when you're laying down because they feel more comfortable and secure in that position. When you're laying down, you appear less threatening and more approachable to your cat, making them more likely to seek your company.
Explain the techinques adopted by the companies to reduce cost in the present Economic Situation?
One of the major costs incurred by a company is the wages and salaries to it's employees. Therefore most companies now prefer to reduce Staff to reduce their costs. Laying off workers would reduce their cost but it goes against the the public welfare.
How do company's make clothes?
companies design clothes by first laying out a design and then getting all the fabrics and sewing them together!
How can you tell which of your hens are laying?
The hen who is laying will have an inflamed comb. When they stop laying or aren't laying yet, their combs become a pinkish-pale color.
Is a crocodile an egg laying mammal?
No. A crocodile is an egg-laying reptile. A platypus is an egg-laying mammal.
