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Critical assessment of role of social media marketing
The Importance of Social Media Marketing
The Importance of Social Media Marketing
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Targeting and positioning is another concept of marketing that Youngstown State University uses. The undifferentiated strategy is just to target all students and anyone that wishes to further their knowledge. This is done by general ads and promotions such as TV, college search sites and hosting sporting events on campus. This strategy saves Youngstown State University money by not having to delve in-depth into the ideal student they are looking for and market to that small niche. Another strategy is concentrated targeting, and this is done by finding a specific market segment and creating advertisements directed toward them. Additionally, each college uses an undifferentiated targeting trying to obtain as many new students as possible. …show more content…
Youngstown State University uses different distribution channels to let potential students know about the opportunities available to them should they attend here. One distribution channel involves the physical organization of getting the information to students. This is done by what is called mailings. Information about the school in viewbook is mailed directing from the admissions office to the potential student. The admissions office also sends invitations through the mail to counselors of over 1000 schools to invite their students to crash day. Another distribution channel is the direct Youngstown State University to student. Coordinators, icebreakers, professors, staff, and students are all direct channels to give students information on the university. Coordinators go out to school to speak with students. Icebreakers speak and guide students directly around campus. When are students are staff leave campus and travel they possible share information with potential students. Indirect channels of distribution that are utilized include professors presenting their research work, which in turns reflects positively on the university. While the mail is used as a physical distribution it facilitates an indirect channel by delivering information to counselors and teachers that then spread it to their student body. Youngstown State University also utilizes the online platform to relay information to …show more content…
Employees are the frontline presence for the company and are typically the first contact that customers interact with. With a basic understanding of marketing concepts employees can come to work with a different mindset. Instead of just coming to work to perform a task, employee could come to work ready to promote and advance the company on top of their required work. Marketing can be both a beneficial and detrimental thing to a company, especially a university. If employees do not understand how marketing works, then they could be display bad attributes or detrimental information to the consumer without realizing it. Employee with an understanding of marketing have a better chance of pinpointing these bad points of performance and fixing them. When a company is seen in a bad light, marketers have the challenging job of changing that bad connation to a positive light. If employees understand marketing concepts and can help markets fix them then less money is spent on damage
Marketing at the Vanguard Group. In light of an evolving market, faced with new competitors, and after a careful analysis of their current customers, the Vanguard Group (hereinafter referred to as “Vanguard”) realizes it must rethink its entire marketing strategy. However, in order to protect and leverage their competitive advantage, which is their low management fees, and to optimize the loyalty that their customers continuously demonstrate toward their organization, they must now target the most profitable segment for them, and develop the best way to serve and delight these customers. SITUATION ANALYSIS Highlighted SWOT Strengths Low fees strategy - a good idea.
Segmentation, targeting and positioning are the fundament of modern marketing (Proctor, 2002, p. 188, as cited in Harris and Schaefer, 2015).
Marketing has a huge impact for University Hospital. They make the best use of social media. Patients are able to go online and share their experiences. They also have surveys they have nurses call and do once a patient has left. They shift their focus from volume to value. Successful marketing calls
When analyzing an organization’s target market, the first step is to understand the business and what they hope to achieve through their marketing strategies. Targeting and positioning strategies consist of analyzing and identifying segments within a given product-market, choosing which segment or segments to target, and developing and implementing a positioning strategy for each targeted segment (Cravens & Piercy, 2009). The company’s target market determines what customer group or groups the company wants to serve (Cravens & Piercy, 2009). Analyzing IKEA’s target market allows the company to determine if their marketing strategies have successfully targeted their intended customer group or groups. Discussing the company’s positioning strategy helps determine if the strategy is effective or if the company must make improvements strengthen their positioning strategy. The company must determine if their targeting and positioning strategies may be lacking. If the company’s targeting and positioning strategies are lacking, the company must determine what they must do to strengthen their targeting and positioning strategies.
Market segmentation means dividing the market into distinct groups that have common needs and will respond similarly to marketing action. Each segment must be unique, have common needs, and respond in a similar manner to marketing efforts. Target market is the group of potential customer that has been selected by business to focus its marketing efforts towards. This is the group the business wants to sell its products/services to. Positioning refers to the image created in the minds of customer of its product or brand. It is a perception created in the minds of the consumer relative to that of its competitors.
Marketing — Marketing allows managers to determine what may interest customers. Through marketing managers can choose how to present goods or services to customers in a way that will interest them and meet their needs (University of Phoenix, 2012).
The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
However, Lings and Greenley suggest utilizing an internal market orientation to strengthen the organization’s overall market orientation (2010). An internal market orientation is “a philosophy of valuing and treating employees as an intermediate set of customers inside the firm and enhancing the value provided to employees with the aim of encouraging them to enact the organizations’ marketing objectives” (Lings & Greenley, 2010, p. 323). Thus, valuing employees and inculcating them with a customer orientation attitude improves the firm’s market orientation and overall competitive advantage. While current research linking internal marketing to a market orientation is limited, the general benefits of valuing and listening to customers can be directly attributed to a successful market orientation
Once segments of customers have been defined, marketers need to select and evaluate which segments will be worth targeting. Cui and Choudhury (2003) define market targeting as marketing a product to a segment of customers due to the magnetism, for example size or growth, of the group. Marketers are able to select segments using undifferentiated, differentiated and concentrated marketing. By ignoring segment differences ...
Marketing professionals create, manage and/or enhance brands in order to create or bolster demand for the product. A successful marketing plan will help assure that consumers look beyond just the price or function of a product when making a purchasing decision, in part, a well planned marketing effort will create a “feel good” association about the product the consumer is about to purchase (Petty) A key part of a career in marketing is to understand the needs, preferences, and constraints that define the target group of consumers or the market niche corresponding to the brand. This is done by market research. This is accomplished through market research, essentially using survey techniques, statistics, psychology and social understanding to help gather information on what consumers want and/or need, and then designing products, or services, to hopefully meet ...
Marketing is defined as the process whereby organisations create value for its users and develop a firm customer relationship as to get back value from their customers (Phillip et al, 2008). Marketing Orientation is whereby companies are more focused on customers and rivals when making their decisions and plan improvement (Johnson, 1998). Companies have to understand the consumer and think like them. Businesses drive growth and sustain competitive advantage by practicing the following;
“function that links the consumer, customer, and public to the marketer through information-information used to identify and define marketing opportunities and problems; to generate, refine, and evaluate marketing actions; to monitor marketing performance; and to improve understanding of the marketing process. Marketing research specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process, analyzes, and communicates the findings and their implications..”
The marketing concept is a managerial philosophy that an organization should try to satisfy customers’ needs through a coordinated set of activities that also allows the organization to achieve its goals. The marketing concept strives to satisfy customers by determining what buyers want and then by using that information. Businesses also have to alter, adapt, and develop new products to continue earnings profits. By being customer oriented, objectives of a business, such as, increasing profits, market sharing, sales, or a combination can be achieved. This philosophy is aimed at helping the customers, but if the customers’ objections are not met the business may not stay open very long.
According to (Kotler, 2003) "Marketing is the business function that identifies unfulfilled needs and wants, defines and measures their magnitude and potential profitability, determines which target markets the organisation can best serve, decides on appropriate products, services, and programs to serve these chosen markets, and calls upon everyone in the organisation to think and serve the customer." The goals are to create value by offering superior solutions, save the buyer time and effort in finding and purchasing goods/services, and delivering a higher standard of living to society as a whole.