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The above represents the demand curve of the company. The following shall be the changes in the demand curve with respect to the undergoing changes:
Posted On: Nov. 20, 2017
Author: Shipra


Marketing Part – 1 The above represents the demand curve of the company. The following shall be the changes in the demand curve with respect to the undergoing changes: Overall increase in Income – If there is an overall increase in the Income level of the concern, and other things remaining constant, it is expected that the demand for the cell phones shall increase. Since, there is increase in the income levels, more and more people shall have access to the cell phones and hence, the demand of the product shall increase. Health concerns using the cell phone – If it is expected that there are health concerns with using the cell phones and taking other things as constant, there shall be a reduction in the demand for the customers. People shall not be willing to buy the cell phones. Even if the prices of the product fall they shall not be interested in buying the product, as it shall be affecting their health and no one shall be interested in affecting their health whatever be the price of the product may be. Hence, an overall decrease in demand is expected. Market price goes up – If the market price goes up, with other things remaining constant, the normal demand and supply functions shall come into play. When the market price increases the supply of the product shall be increased by the manufacturers as they shall have a larger share of profits and shall hence increase the overall supply of the product in the market. Part 2 The above represents the supply curve of the company. Becomes Expensive to produce Cell phones – With an overall increase in the cost of manufacturing of the cell phones, the overall profitability shall fall for the manufacturers. Selling of the product shall no longer remain profitable, and hence they shall try to avoid and ignore the manufacture of the product. They shall hence try to avoid as much of the production that it can. Hence the overall supply of the product shall fall and the amount of production of the cell phones of the company shall fall. Hence the supply curve shall move and shall become more flat. Another Company starts producing cell phones – When another company starts the production of the same commodity and there are other players in the market producing the same product. As per the given case, there shall be 4 more producers producing the same product. Hence there shall be increased competition for the production of the product. With the increase in the production the producers shall be willing to sell the products even at lower price and lower profitability. The overall price levels in the market shall fall down. There shall be a left ward shift in the supply curve. Since the manufacturers shall be able to sell the product at the lower price, the overall supply curve shall move to the left, and hence shall be in the same manner. The production and the quantity effects shall be accordingly for all forms of competition. Part 3 The above graph represents the demand curve and the supply curve of the cell phone. Equilibrium is achieved where the demand curve intersects the supply curve. The intersection point of demand curve and supply curve shows the equilibrium levels of demand and supply. At the point of intersection, perpendicular towards axes, the equilibrium price and quantity shall be established. The price and quantity at equilibrium level states the price at which the equilibrium level of output shall be supplied and demanded in the market. Thus by the intersection of the demand and supply functions curve the equilibrium quantity by which the price is established. When the new product is introduced in the market, there shall be increase in competition and therefore, there shall be a leftward shift of the supply curve. Since there shall be a competition in the market, there shall be more and more manufacturers willing to sell the product. With the same, there shall be a lower profit margin, and the sellers shall be able to sell the product even at lower costs. Hence the supply curve shall shift leftward. As a result of the same, the equilibrium quantity may or may not change, but the equilibrium price shall certainly change, and shall change towards falling trend. The equilibrium price shall fall. Part 4 As a result of the government intervention in the market the overall consumption and the levels shall increase, and the prices of the products shall fall. This shall have a dual impact on the market. With the fall in general prices the overall demand levels shall increase. Moreover, since the government shall intervene, the quantity supplied shall remain same or shall increase. Overall the quantity levels shall increase in the market, whereas the price levels shall fall as a result of the government intervention. This would certainly prove to be a very good thing for the customers, as they shall be able to enjoy the same products at lower prices. On the government’s initiative to tax people, the following shall be the affect: The ultimate tax payer shall be the customer. The customer shall have to bear the tax burden and shall be required to pay the tax. Even though there is an increase in taxes, there shall be no material changes in the demand and supply curve. The equilibrium demand and supply curve shall not show much change. People shall continue to buy the products even though the taxes are imposed, as it shall have minimal effect on customer pocket. To look at the market, it is estimated that a free market for cell phone do exist, as more and more manufacturers are entering into this business venture, and hence, it is a free market on an overall basis.



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Marketing Approaches to Transparency According to Rosenbloom, what are the five approaches used to increase openness or transparency in government? Identify the approaches and describe them or use
Posted On: Nov. 20, 2017
Author: Shipra


Marketing Approaches to Transparency According to Rosenbloom, what are the five approaches used to increase openness or transparency in government? Identify the approaches and describe them or use examples of each. Have you ever made a FOIA request or used another approach listed in the book? If so, what was your experience? Information is the key to successful working of a company. Without providing suitable means of offering and receiving information governments are likely to fail. The five approaches that increase transparency in government functions are 1) Public Reporting 2) Freedom of Information 3) Privacy 4) Open Meetings and 5) Whistle blower protection. The first one, public reporting calls for providing descriptions of the organizations and their locations. It also lists down whom to contact for obtaining information, submission of requests, and obtaining decisions. Rules and regulations need to be clearly specified. The second one, freedom of information is rightly defined as use of regulations and laws that provide members of community with a legally enforceable right of access to information which is in the possession of the government. Privacy is ensured by the federal Privacy Act of 1974 which provides protection to individual rights against encroachment by the administration. Its coverage is almost similar to freedom of information act but has a broader perspective. Transparency of operation is guaranteed by having open meetings. This is applicable to federal government and all the fifty states as well. The objective is to put in front of the general public the minutes of oral policy making so that mutual trust is generated and better decision is taken in the interest of government and the general public. By providing legal protection to a whistle blower one can promote transparency in operations. It helps in reprisals against public servants who expose the wrongdoings of other officials of the government while doing business with others. I had approached the local governing body to obtain information as per FOIA and my experience was very disappointing. I sought information on how much money was spent in repairing the main roads and lanes of our county. The information officer refused to accept the petition stating it was a matter to be discussed in the internal meetings of the county. However, on my insistence, and when I showed him the rules, he reluctantly accepted the petition and had to provide me information in the stipulated time. I got the information published in the local newspaper , which became a point of discussion in the general body meeting as the money spent was substantial and no competitive bidding was done while placing order on the contractor. A nexus between the sanctioning officer and the contractor was exposed. 2. Non-Mission Based Values What were the key findings in the Piotrowski and Rosenbloom article on non-mission based values? How many FOIA requests were made? How do we get public administration to pay attention to non-mission based values, such as transparency? For example, NASA has zero transparency values in its mission statement. Both the Congress and the federal courts have been taking steps to make the U. S. federal administration more responsive to democratic- constitutional values. These include representation, participation, transparency and individual rights. The National Performance Review revealed that by focusing on results may reduce attention to these values. In any case, most of the agencies do not have a well defined mission. Freedom of information reveals the problem of protection non mission – based, democratic, democratic–constitutional values in results–oriented public management however, the annual performance plans of the agencies , under the Government Performance and Results Act, significantly ignore freedom of information, even though it is a legal requirement and performance measures for it are readily available. The study by Piotrowski and Rosenbloom concludes that focusing on results may weaken commitment to democratic–constitutional values by default. It suggests that using a balanced scorecard approach in performance plans could enhance attention to freedom of information and other democratic–constitutional values. One way to get public administration to pay attention to non-mission based values, such as transparency is to put in place their increment and promotion in line with the number of complaints received against them. By linking their promotion to the complaints, they will be forced to take note of the importance of transparency. However, the problem is that of spending in defense related project, where secrecy is of prime importance. There, the question of safety of the people of the country comes into picture. 3. Freedom of Information Each state has a version of the federal level Freedom of Information Act. Regardless if you work for a federal or state government agency as a public administrator it is your job to be familiar with the Freedom of Information Act. If a citizen makes a request for information, how would you respond? For example, what categories of information (exemptions) are not included in the FOIA? What are the types of disclosures? Time deadlines and fees assessed for FOIA requests? The Freedom Of Information Act ( FOIA) stipulates that each agency shall make available in the public domain , the description of the organization, role of employees and the methods by which public can obtain information. The Freedom of Information Act entitles the following exemptions on documents being requested by the public: 1. Those documents properly classified as secret in the interest of national defense or foreign policy; 2. Related solely to internal personnel rules and practices; 3. Specifically exempted by other statutes; 4. A trade secret or privileged or confidential commercial or financial information obtained from a person; 5. A privileged inter-agency or intra-agency memorandum or letter; 6. A personnel, medical, or similar file the release of which would constitute a clearly unwarranted invasion of personal privacy; 7. Compiled for law enforcement purposes, the release of which a. could reasonably be expected to interfere with law enforcement proceedings, b. would deprive a person of a right to a fair trial or an impartial adjudication, c. could reasonably be expected to constitute an unwarranted invasion of personal privacy, d. could reasonably be expected to disclose the identity of a confidential source, e. would disclose techniques, procedures, or guidelines for investigations or prosecutions, or f. could reasonably be expected to endanger an individual's life or physical safety; 8. Contained in or related to examination, operating, or condition reports about financial institutions that the SEC regulates or supervises; or 9. And those documents containing exempt information about gas or oil (http://www.sec.gov/foia/nfoia.htm) As a general rule, an agency's ability to make a discretionary disclosure of exempt information, as recognized in Attorney General Ashcroft's FOIA Memorandum, will vary according to the nature of the FOIA exemption and the underlying interests involved. First, while the FOIA does not itself prohibit the disclosure of any information, an agency's ability to make a discretionary disclosure of information covered by a FOIA exemption can hinge on whether there exists any legal barrier to disclosure of that information. Some of the FOIA's exemptions -- such as Exemption 2, and Exemption 5, for example -- protect a type of information that is not subject to any such disclosure prohibition. Other FOIA exemptions -- most notably Exemption 3 -- directly correspond to, and serve to accommodate, distinct prohibitions on information disclosure that operate independently of the FOIA or are given nondisclosure effect under it. Agencies are constrained from making a discretionary FOIA disclosure of the types of information covered by the FOIA exemptions listed above. Fees and Waivers The Freedom of Information Act (FOIA) allows agencies to charge requesters fees for processing FOIA requests. These fees cover only the full allowable direct costs of search, duplication, and review. No fees will be charged when the average cost of collecting the fee (calculated at $5.00) exceeds the amount of the fee. If you are concerned about costs, the FOIA staff will give you an estimate of what your fees will be before they process your request. Payment procedures The Board may assume that a person requesting records under FOIA will pay the applicable fees unless the request includes a limitation on fees to be paid or seeks a waiver or reduction of fees as appropriate. The fees assessed depend upon the intended use for the records requested. In determining which category is appropriate, the Board considers the intended use described in the request for records. When a requester's description of the use is insufficient to make a determination, the Board may seek additional clarification before categorizing the request. • Advance notification of fees. If the estimated charges are likely to exceed $100, the FOIA Office will notify the requester of the estimated amount, unless the requester has indicated a willingness to pay fees as high as those anticipated. The deadline for processing and responding to requests will be suspended until the fee issue is resolved. • Advance payments. The Board may require advance payment of any fee estimated to exceed $250. The Board may also require full payment in advance when a requester has previously failed to pay a fee. The deadline for processing and responding to requests will be suspended until the fee issue is resolved. • Late charges. The Board may assess interest charges when fee is not paid within 30 days of the date on which the bill was sent. Fees for search and review may be charged even if no documents in response to the request are located or if the request is denied. A requester may not file multiple requests at the same time to avoid payment of fees. Fee waivers a request for a waiver or reduction of the fees, and the justification for the waiver, will be included with the request for records to which it pertains. • If a waiver is requested and the requester has not indicated in writing an agreement to pay the applicable fees if the waiver request is denied, the time for response to the request for documents will not begin until a waiver has been granted or, if the waiver is denied, until the requester has agreed to pay applicable fees. • The Board will grant a waiver or reduction of fees when it is determined both that the disclosure is in the public interest and that it is likely to contribute significantly to public understanding of the operations and activities of the government and is not primarily in the commercial interest of the requester. Fee Schedule The fees assessed depend upon the intended use for the records requested. In determining which category is appropriate, the Board will look to the intended use set forth in the request for records. Costs Duplication Photocopy, per standard page $0.10 Paper copies of microfiche, per frame $0.10 Duplicate microfiche, per microfiche $0.35 Search and review Clerical or technical, hourly rate $20.00 Professional or supervisory, hourly rate $38.00 Manager or senior professional, hourly rate $65.00 Computer search and production Computer operator search, hourly rate $32.00 Tapes (cassette), per tape $6.00 Tapes (cartridge), per tape $9.00 Tapes (reel), per tape $18.00 Diskettes (3-1/2¢¢), per diskette $4.00 Diskettes (5-1/4¢¢), per diskette $5.00 Computer output (PC), per minute $0.10 Computer output (mainframe), actual cost Categories of use Commercial the fees for search, duplication, and review apply when records are requested for commercial use. Education, research, or media the fees for duplication apply when records are not sought for commercial use and the requester is a representative of the news media or an educational or noncommercial scientific institution, whose purpose is scholarly or scientific research. The first 100 pages of duplication will be provided free. Other for all other requests, the fees for document search and duplication apply. The first two hours of search time and the 100 pages of duplication will be provided free.



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Marketing Homework Help Marketing is an important function of all organisations. It is a process through which businesses are promoted and products as well as services are distributed. One can
Posted On: Nov. 20, 2017
Author: Shipra


Marketing Homework Help Marketing is an important function of all organisations. It is a process through which businesses are promoted and products as well as services are distributed. One can say marketing is the heart and sould of a business organisation.It provides help to companies offer its products and services to target customers.marketing can also be understood as adverttisign or promotion of business. It includes publicity, advertising, interacting with media. It motivates people to pay attention to the organisation and its products and services. Selling, purchasing, publicty, promotion and distribution of product or service are part of marketing function. Marketing is a major branch of business management and includes market research, consumer behavior, promotional activities such as advertising, survey, offers etc. there are several sub-branches of marketing such as relationship marketing, relationship management, business marketing, social marketing and branding of company.these individual branches have their own methods of promoting their products in the market. However, they all have the same final goal i.e. to obtain and retain the maximum share of business in the market and to explore and develop a new market for a company’s products and services. A lot of people face problems in their home assignments. Some of them find it difficult while others think these are tough and cannot be solved at all. If you are having difficulties with your home assignments and homework and need assistance in doing it, we are there to provide help. We extend help in homework assignments in marketing and other subjects related to it to students all over the world, irrespective of the locaiton. Our help includes writing projects, papers, essays and providig solution to accounting problems. We are a team of experts having expertise in business, management, engineering, math, physics, chemistry and other similar subject. Our tutors are qualified from reputed universtities and are ever ready to provide you help in your assignments. We also provide help with online classes,exams,tests,quizzes,assignments etc.Our assistance can be sought various levels such as undergradutae, graduate and post graduate as well.We do not aim to provide you with just the solution to the question but also explain you the entire method and concepts utilized in solving the question.



VIEW FILE
Marketing Approaches to Transparency According to Rosenbloom, what are the five approaches used to increase openness
Posted On: Nov. 18, 2017
Author: Shipra


Marketing Approaches to Transparency According to Rosenbloom, what are the five approaches used to increase openness or transparency in government? Identify the approaches and describe them or use examples of each. Have you ever made a FOIA request or used another approach listed in the book? If so, what was your experience? Information is the key to successful working of a company. Without providing suitable means of offering and receiving information governments are likely to fail. The five approaches that increase transparency in government functions are 1) Public Reporting 2) Freedom of Information 3) Privacy 4) Open Meetings and 5) Whistle blower protection. The first one, public reporting calls for providing descriptions of the organizations and their locations. It also lists down whom to contact for obtaining information, submission of requests, and obtaining decisions. Rules and regulations need to be clearly specified. The second one, freedom of information is rightly defined as use of regulations and laws that provide members of community with a legally enforceable right of access to information which is in the possession of the government. Privacy is ensured by the federal Privacy Act of 1974 which provides protection to individual rights against encroachment by the administration. Its coverage is almost similar to freedom of information act but has a broader perspective. Transparency of operation is guaranteed by having open meetings. This is applicable to federal government and all the fifty states as well. The objective is to put in front of the general public the minutes of oral policy making so that mutual trust is generated and better decision is taken in the interest of government and the general public. By providing legal protection to a whistle blower one can promote transparency in operations. It helps in reprisals against public servants who expose the wrongdoings of other officials of the government while doing business with others. I had approached the local governing body to obtain information as per FOIA and my experience was very disappointing. I sought information on how much money was spent in repairing the main roads and lanes of our county. The information officer refused to accept the petition stating it was a matter to be discussed in the internal meetings of the county. However, on my insistence, and when I showed him the rules, he reluctantly accepted the petition and had to provide me information in the stipulated time. I got the information published in the local newspaper , which became a point of discussion in the general body meeting as the money spent was substantial and no competitive bidding was done while placing order on the contractor. A nexus between the sanctioning officer and the contractor was exposed. 2. Non-Mission Based Values What were the key findings in the Piotrowski and Rosenbloom article on non-mission based values? How many FOIA requests were made? How do we get public administration to pay attention to non-mission based values, such as transparency? For example, NASA has zero transparency values in its mission statement. Both the Congress and the federal courts have been taking steps to make the U. S. federal administration more responsive to democratic- constitutional values. These include representation, participation, transparency and individual rights. The National Performance Review revealed that by focusing on results may reduce attention to these values. In any case, most of the agencies do not have a well defined mission. Freedom of information reveals the problem of protection non mission – based, democratic, democratic–constitutional values in results–oriented public management however, the annual performance plans of the agencies , under the Government Performance and Results Act, significantly ignore freedom of information, even though it is a legal requirement and performance measures for it are readily available. The study by Piotrowski and Rosenbloom concludes that focusing on results may weaken commitment to democratic–constitutional values by default. It suggests that using a balanced scorecard approach in performance plans could enhance attention to freedom of information and other democratic–constitutional values. One way to get public administration to pay attention to non-mission based values, such as transparency is to put in place their increment and promotion in line with the number of complaints received against them. By linking their promotion to the complaints, they will be forced to take note of the importance of transparency. However, the problem is that of spending in defense related project, where secrecy is of prime importance. There, the question of safety of the people of the country comes into picture. 3. Freedom of Information Each state has a version of the federal level Freedom of Information Act. Regardless if you work for a federal or state government agency as a public administrator it is your job to be familiar with the Freedom of Information Act. If a citizen makes a request for information, how would you respond? For example, what categories of information (exemptions) are not included in the FOIA? What are the types of disclosures? Time deadlines and fees assessed for FOIA requests? The Freedom Of Information Act ( FOIA) stipulates that each agency shall make available in the public domain , the description of the organization, role of employees and the methods by which public can obtain information. The Freedom of Information Act entitles the following exemptions on documents being requested by the public: 1. Those documents properly classified as secret in the interest of national defense or foreign policy; 2. Related solely to internal personnel rules and practices; 3. Specifically exempted by other statutes; 4. A trade secret or privileged or confidential commercial or financial information obtained from a person; 5. A privileged inter-agency or intra-agency memorandum or letter; 6. A personnel, medical, or similar file the release of which would constitute a clearly unwarranted invasion of personal privacy; 7. Compiled for law enforcement purposes, the release of which a. could reasonably be expected to interfere with law enforcement proceedings, b. would deprive a person of a right to a fair trial or an impartial adjudication, c. could reasonably be expected to constitute an unwarranted invasion of personal privacy, d. could reasonably be expected to disclose the identity of a confidential source, e. would disclose techniques, procedures, or guidelines for investigations or prosecutions, or f. could reasonably be expected to endanger an individual's life or physical safety; 8. Contained in or related to examination, operating, or condition reports about financial institutions that the SEC regulates or supervises; or 9. And those documents containing exempt information about gas or oil (http://www.sec.gov/foia/nfoia.htm) As a general rule, an agency's ability to make a discretionary disclosure of exempt information, as recognized in Attorney General Ashcroft's FOIA Memorandum, will vary according to the nature of the FOIA exemption and the underlying interests involved. First, while the FOIA does not itself prohibit the disclosure of any information, an agency's ability to make a discretionary disclosure of information covered by a FOIA exemption can hinge on whether there exists any legal barrier to disclosure of that information. Some of the FOIA's exemptions -- such as Exemption 2, and Exemption 5, for example -- protect a type of information that is not subject to any such disclosure prohibition. Other FOIA exemptions -- most notably Exemption 3 -- directly correspond to, and serve to accommodate, distinct prohibitions on information disclosure that operate independently of the FOIA or are given nondisclosure effect under it. Agencies are constrained from making a discretionary FOIA disclosure of the types of information covered by the FOIA exemptions listed above. Fees and Waivers The Freedom of Information Act (FOIA) allows agencies to charge requesters fees for processing FOIA requests. These fees cover only the full allowable direct costs of search, duplication, and review. No fees will be charged when the average cost of collecting the fee (calculated at $5.00) exceeds the amount of the fee. If you are concerned about costs, the FOIA staff will give you an estimate of what your fees will be before they process your request. Payment procedures The Board may assume that a person requesting records under FOIA will pay the applicable fees unless the request includes a limitation on fees to be paid or seeks a waiver or reduction of fees as appropriate. The fees assessed depend upon the intended use for the records requested. In determining which category is appropriate, the Board considers the intended use described in the request for records. When a requester's description of the use is insufficient to make a determination, the Board may seek additional clarification before categorizing the request. • Advance notification of fees. If the estimated charges are likely to exceed $100, the FOIA Office will notify the requester of the estimated amount, unless the requester has indicated a willingness to pay fees as high as those anticipated. The deadline for processing and responding to requests will be suspended until the fee issue is resolved. • Advance payments. The Board may require advance payment of any fee estimated to exceed $250. The Board may also require full payment in advance when a requester has previously failed to pay a fee. The deadline for processing and responding to requests will be suspended until the fee issue is resolved. • Late charges. The Board may assess interest charges when fee is not paid within 30 days of the date on which the bill was sent. Fees for search and review may be charged even if no documents in response to the request are located or if the request is denied. A requester may not file multiple requests at the same time to avoid payment of fees. Fee waivers a request for a waiver or reduction of the fees, and the justification for the waiver, will be included with the request for records to which it pertains. • If a waiver is requested and the requester has not indicated in writing an agreement to pay the applicable fees if the waiver request is denied, the time for response to the request for documents will not begin until a waiver has been granted or, if the waiver is denied, until the requester has agreed to pay applicable fees. • The Board will grant a waiver or reduction of fees when it is determined both that the disclosure is in the public interest and that it is likely to contribute significantly to public understanding of the operations and activities of the government and is not primarily in the commercial interest of the requester. Fee Schedule The fees assessed depend upon the intended use for the records requested. In determining which category is appropriate, the Board will look to the intended use set forth in the request for records. Costs Duplication Photocopy, per standard page $0.10 Paper copies of microfiche, per frame $0.10 Duplicate microfiche, per microfiche $0.35 Search and review Clerical or technical, hourly rate $20.00 Professional or supervisory, hourly rate $38.00 Manager or senior professional, hourly rate $65.00 Computer search and production Computer operator search, hourly rate $32.00 Tapes (cassette), per tape $6.00 Tapes (cartridge), per tape $9.00 Tapes (reel), per tape $18.00 Diskettes (3-1/2¢¢), per diskette $4.00 Diskettes (5-1/4¢¢), per diskette $5.00 Computer output (PC), per minute $0.10 Computer output (mainframe), actual cost Categories of use Commercial the fees for search, duplication, and review apply when records are requested for commercial use. Education, research, or media the fees for duplication apply when records are not sought for commercial use and the requester is a representative of the news media or an educational or noncommercial scientific institution, whose purpose is scholarly or scientific research. The first 100 pages of duplication will be provided free. Other for all other requests, the fees for document search and duplication apply. The first two hours of search time and the 100 pages of duplication will be provided free.



VIEW FILE
Marketing Homework Help Marketing is an important function of all organisations. It is a process through which
Posted On: Nov. 18, 2017
Author: Shipra


Marketing Homework Help Marketing is an important function of all organisations. It is a process through which businesses are promoted and products as well as services are distributed. One can say marketing is the heart and sould of a business organisation.It provides help to companies offer its products and services to target customers.marketing can also be understood as adverttisign or promotion of business. It includes publicity, advertising, interacting with media. It motivates people to pay attention to the organisation and its products and services. Selling, purchasing, publicty, promotion and distribution of product or service are part of marketing function. Marketing is a major branch of business management and includes market research, consumer behavior, promotional activities such as advertising, survey, offers etc. there are several sub-branches of marketing such as relationship marketing, relationship management, business marketing, social marketing and branding of company.these individual branches have their own methods of promoting their products in the market. However, they all have the same final goal i.e. to obtain and retain the maximum share of business in the market and to explore and develop a new market for a company’s products and services. A lot of people face problems in their home assignments. Some of them find it difficult while others think these are tough and cannot be solved at all. If you are having difficulties with your home assignments and homework and need assistance in doing it, we are there to provide help. We extend help in homework assignments in marketing and other subjects related to it to students all over the world, irrespective of the locaiton. Our help includes writing projects, papers, essays and providig solution to accounting problems. We are a team of experts having expertise in business, management, engineering, math, physics, chemistry and other similar subject. Our tutors are qualified from reputed universtities and are ever ready to provide you help in your assignments. We also provide help with online classes,exams,tests,quizzes,assignments etc.Our assistance can be sought various levels such as undergradutae, graduate and post graduate as well.We do not aim to provide you with just the solution to the question but also explain you the entire method and concepts utilized in solving the question.



VIEW FILE
Actually one of my strong suits is communication. This is something that I have been commended for in my friendships and relationships. However, if I am being forced to
Posted On: Nov. 18, 2017
Author: Shipra


Actually one of my strong suits is communication. This is something that I have been commended for in my friendships and relationships. However, if I am being forced to choose a weak area that I am strong in, that I can forcibly admit needing to improve my presentation skills when communicating with others in business. “Presenting your ideas and opinions so that they are recognized” (Sole, 2011, p.39).This skill set is mentioned in the people skills category and its formal title is called appropriate assertion skills. Sometimes when I am presenting an idea in business I can be too detailed and always wonder if I am maintaining the interests of the audience. As an entrepreneur and aspiring author I am always presenting ideas to someone. Too have someone get your message perfectly on the first delivery attempt would be a stupendous achievement to mankind I’d say. It will also save you from having to rephrase the same message again. Sole, K. (2011).Making connections: Understanding interpersonal communication. San Diego, CA: Bridgepoint Education, Inc. Shay Acquiring presentation skills is the first step to successful communication. It is thrilling to put across your ideas across to the other person and get it accepted by him. If acceptance takes place at the first instance, without further argument or explanation then, it is the most ideal thing to happen. It would be called an achievement because one will not have to re- phrase the words It is definitely important to develop presentation skills in business presentations. One has to put across his ideas and views and get them accepted by the other party. These skills are the basics of communication.



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Dis1 Learning New Skills Many people believe that communication skills are easy and should come naturally. As we have learned this week, learning effective interpersonal communication skills
Posted On: Nov. 18, 2017
Author: Shipra


Dis1 Learning New Skills Many people believe that communication skills are easy and should come naturally. As we have learned this week, learning effective interpersonal communication skills requires a lot of time and practice. Of all the skills listed in Chapter Two of Making Connections: Understanding Interpersonal Communication, which skill(s) are you most excited about improving in your interpersonal relationships? Why do you feel that you need to make improvements in this area? Based on the course material that you read this week, what are some ways that you plan on using these skills in your everyday life? Contrary to what people believe about communication skills, it is not an easy task. One has to spend a lot of time and effort to acquire interpersonal communication skills. It is an art that has to be learnt and practiced. Of all the skills listed in our text book, I consider Listening Skills to be one of the most effective one. This is a skill we all know is good but seldom practice. By communication skills, we tend to make conversation without realizing the importance of listening. We may claim to be great listeners but in fact that is not so. Listening requires focus and attention, and failure to listen is one of the key causes of miscommunication. (Section 2.5 Interpersonal Communication Skills). I personally feel I need more improvement in this area. Many a times I feel I am paying attention but in fact my mind keeps on wandering around and suddenly when the person who is talking points this out , I feel embarrassed. The course material has taught us the importance of listening skills and I am going to practice it in my everyday life. For example, I am going to focus on what my colleagues have to say, without interrupting and making eye contact and nodding in agreement when necessary as well asking questions when in doubt. This way, the person who is talking would also feel happy that his view point is being understood. Reference Kratz (2005) Effective Listening Skills McGraw-Hill Education, Dis2 The “Self “and Communication In Chapter Three of Making Connections: Understanding Interpersonal Communication, the author lays out many psychological concepts concerning the “self.” How do all these concepts relate to interpersonal communication? Also, give an example of how your “self-concept,” “self-image,” or “self-esteem” has affected your interpersonal communication. In our text book, the author says “Intrapersonal communication refers to the internal communication within and to yourself” (Section 3.1 Who Are You?). This sounds quite strange, but is true. We all talk to ourselves which is quite normal. We do it unconsciously without realizing it, or without giving it any serious thought whatsoever. There are a number of ways of communicating with self. If we are asked to do an exercise of writing about ourselves and make a list it would represent self- concept. It is defined as an appraisal of our own attributes and competencies. Self image, self- esteem, self – concept are all important aspects of understanding oneself. How we view ourselves affects our communication with others. For example, a person with low self- esteem would always feel himself to be inferior and when he opens up conversation with others, his method would invariably be apologetic. Similar when we take certain actions such as frowning, making verbal comments, the way we dress up, makes other form opinions about us. When these are communicated to us, we get influenced and behave to act accordingly. To give an example, I always used to pass comments on appearance of others, the way the dress up or behave. My friends noticed this behavior of mine and termed me to be judgmental in nature. When I heard this comment of theirs, I started believing in this trait of mine. It was only later on in life that I realized that this comment of my friends was not a compliment, but a criticism of sort. Thus, I realized my mistake and slowly started correcting myself. References Powell J. (2005) Self-Esteem Black Rabbit Books



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ADVERTISING COMPANY
Posted On: Nov. 13, 2017
Author: Shipra


1. ADVERTISING COMPANY Advertising is a kind of communication, which is used to influence prospects to purchase goods or services. The primary objective of advertising is to communicate a message, which can include several things e.g. name of the product / service, manufacturer, etc and how the product / service would prove to be beneficial to the prospects. Its aim is to persuade the potential customers to buy and use a particular product / service. Advertising company play a significant role in this activity. The advertising company is a kind of service which is involved in creating, planning, and handling advertising work for its clients. An advertising company is independent from the client and provides an impartial view of the attempt to sell the products / services of a client. The advertising company can also take up other roles such as marketing, branding, sales promotions etc for its clients. The main departments of an advertising company are Creative Department, Accounts services, Media services. Account services are the sales wing of the advertising company whose basic purpose is to meet the client and determine sales goals and creative strategy. Usually an Accounts executive is designated by an advertising company to carry out liaison work with the clients They are then responsible for coordinating the creative, media, and production staff behind the campaign. The people working in media services have contacts with the suppliers of various creative media. They advise upon and negotiate with printers. In small agencies, employees may do both creative and account service work. 2. B2B MARKETING 3. BUSINESS TO BUSINESS MARKETING B2b marketing or business to business marketing, is also known as industrial marketing. In b2b marketing, business is purchase is carried out between two business units. B2b marketing has some special features such as buyers are scattered, purchase is normally large in quantity or numbers, requires more follow-ups. B2b marketing is usually done directly and there are normally no intermediaries involved in the business transaction. B2b marketing may also involve two bid pricing in which bids are submitted in two parts, technical and commercial. B2b marketing generally involves negotiation of prices as the quantity involved is large. Negotiation can also be on delivery, quality and other technical or service related aspects. Before selling any item to a business house, a lot of filed work is required to be done. The needs of the customer are to be understood in details. In case the product is of engineering in nature, its functions and benefits have to be explained. When the cost involved is very high, customer usually hesitates to purchase the item. So, customer’s fears and doubts should be clarified and removed. Basically b2b marketing is more of relationship marketing where a rapport with the customer is to be built up This relationship helps in securing repeat orders and may also be useful in getting referrals or testimonials from the clients which would prove to be beneficial to the company in the long run in terms of future orders, service or delivery matters or all such matters which arise in a business transaction. The business to business marketing is a bit different from consumer marketing. In business to business marketing, the number of channels of distribution are either nil or shorter in nature as compared to consumer marketing. The business to business marketing involves negotiation between the buyer and seller , which is more personal in nature . number of sales calls to be made to customer in business to business marketing are quite large. Normally the business is not completed in one transaction or visit. It requires repeated calls , say first to understand the requirements of the prospective customers, and build up relation ship and understanding, Next, it could be to explain the benefits of the product / service that a sales person is going to offer. A demonstration may also be necessary ,especially if the product is technical or complex in nature. The number of people involved in business to business marketing I are quite large , starting from actual users of the item , planners , quality control personnel, maintenance department and purchase department as well. Each of these departments have a different role to play. The user would specify his requirement to the planning department, who will , in turn combine the requirements of all the departments and check up the stock position and place an indent on the purchase department. The purchase department would float enquiry and get suitable quotations which are examined technically by quality control department and maintenance department personnel from the point of view of meeting the specifications and repair / maintenance aspects. Once the technical features are examined and approved, purchase department goes for negotiation of price and other aspects such as delivery, quality etc. 4. BRAND MANAGEMENT A brand is a name or trademark connected with a product or its manufacturer. Brand management is the application of marketing methods to a product, or a product line. The basic objective of brand management is to increase the perceived value of the product in the eyes of the customer , so that he would develop an affinity or liking for it and go for repeat purchase. Brands should possess some good qualities such as easy to pronounce, remember and recognize, attract attention, suggest product benefits, and / or company’s name or image of the product. They should stand out amongst a group of brands and also distinguish the product’s positioning with respect to competitors Brand management is being looked upon as a strategic option. In their efforts to uphold their image, many companies are now switching to on line monitoring on a regular basis. This would include misrepresentation of the trade mark of the brand by fraudsters or imposters, who cause a confusion in the minds of customers for their own monetary gain. This monitoring can also include writing on blogs or articles in newspapers or magazines where people would generally write abut their experiences , say stay in a hotel or difficulties faced while using a washing machine , or a service problem encountered by them. Such write ups can do unimaginable damage to the reputation of the brand and thereby the name and reputation of the company in an indirectly way, which would be difficult to retrieve as the implications can be quite severe and far more damaging than what companies perceive it to be . 5. BRAND MARKETING Despite what many believe, brand isn’t about the logo, tagline and glossy brochure. A company’s brand extends to its employees, customers, the media and even the general public . Branding goes well beyond the marketing function. It will not be successful without ensuring that all aspects of the business reflect and support the intended brand. One of the most valuable assets—people—must be well-trained in articulating and delivering on the brand. This step is particularly important for service organizations that don’t have concrete products. Their offerings are soft assets like knowledge, experience and people. When employees don’t deliver the brand, it can be the kiss of death for a business. This can be easily understood by visiting some of the popular hotel review web site like TripAdvisor.com. you could examine travelers’ comments and you’ll likely come across more than a few who cite poor customer service for their negative hotel reviews. Conversely, employees who represent the brand flawlessly and consistently can propel a business to stardom. All this goes to prove that we can not ignore the people aspect in brand marketing. It is the people who form the backbone of the company and represent it day in day out. Each transaction with the customer, involves interaction with the employees , directly or indirectly and if we make a statement that people are the brand ambassadors of the company, then it would not be an understatement . Having said this, it is important not to forget the service aspect also , which includes both pre and after sales service. Marketing of brand can be done by various ways, such as logos, advertisements, endorsements etc, all of which play an equal important role. However, it can not be said that only one method is the best. It all depends on the type of product, market and other situational factors. 6. BRANDING Brand marketing is the method and the means by which you propel your business into the public consciousness. While the world of business has changed by leaps and bounds, the basic principles of brand marketing have remained the same. Exploring brand marketing concepts is a great way to fine-tune your business model and business practices, but it worthwhile to explore answers to questions such as what is branding and why is it important? A strong brand is invaluable as the battle for customers intensifies day by day. It's important to spend time investing in researching, defining, and building your brand. After all your brand is the source of a promise to your consumer. The American Marketing Association (AMA) defines a brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers. Therefore it makes sense to understand that branding is not about getting your target market to choose you over the competition, but it is about getting your prospects to see you as the only one that provides a solution to their problem. The objectives that a good branding will achieve include: Delivers the message clearly, Confirms your credibility ,Connects your target prospects emotionally , Motivates the buyer , Concretes User Loyalty To succeed in branding you must understand the needs and wants of your customers and prospects. You do this by integrating your brand strategies through your company at every point of public contact. Your brand resides within the hearts and minds of customers, clients, and prospects. It is the sum total of their experiences and perceptions, some of which you can influence, and some that you cannot.



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Assignment 3 For the purpose of analysis, we will assume a product manufactured by a FMCG
Posted On: Nov. 13, 2017
Author: Shipra


Assignment 3 For the purpose of analysis, we will assume a product manufactured by a FMCG company (Hannah Soap & Detergents Co.) The product made by the company is bath soap, having brand name BLISS. It is assumed that the company has a lot of competitors for this product in the market as the item is of common use and the entry barriers for making such kind of products are very low. Almost any company, with a bit of investment can set up a plant and start manufacturing soaps. 1. Describe the opportunity cost to your organization of supplying this product. Opportunity cost of a resource, as referred by economists, is the value of the highest valued alternative use of that particular resource. Suppose, you spend your leisure time and money in going for a concert and you can not spend that time staying at home watching TV, and you also have no other alternative of spending the money on anything else. So, your next best alternative to going for the concert is watching TV, then the opportunity cost of going for the concert is the money spent plus the pleasure you forgo by not watching TV. Another way of defining opportunity cost is:- The cost of an alternative that must be relinquished in order to follow a certain action. Or in other words, the payback you could have received by taking a different action. For example if a farmer decides to grow wheat, then his opportunity cost is the alternative crop that might have been grown instead (pulses, carrots, apples etc.) In this case, the choice between the two options must be made. The decision would have been extremely simple had you known the end outcome in advance. However the risk that you could have achieved higher benefits by way of monetary or otherwise, by choosing another option is the opportunity cost In the present case, Hannah Soap & Detergents Co. has the options of manufacturing other products as well for example washing soap, detergents, soap flakes or any other product which may not be similar to the one they are making at the moment. In that case, the profit or revenue that they would have earned by making alternative product is the opportunity cost. This cost has to determined taking into account the business potential of the existing line of manufacturing and the alternative items that the company could take up for producing . Several factors need to be taken into consideration. For example, the cost of setting up plant, infrastructure, recurring expenses, market conditions at present, future growth prospects etc. Based on these factors only a suitable decision is taken for manufacturing the item (soap, in this particular case). Of course, things can change at a later date due to change in the environmental conditions, but then these things can not be predicted with accuracy. One can only make a judgment based on the facts available at the moment. 2. What are the main determinants of consumer demand for the product or service and how do they change in response to development in the overall economic scene, such as the global financial crisis that emerged from 2008? Economic study has acknowledged the role of key variables in determining demand and consumption. Demand, as the relationship between price and quantity, is subject to change over time due to changes in the principal factors held constant by the static belief of demand. Changes in the demand shifting parameters are invariably included in economic evaluation of demand representing expected dynamics in these determinants. The major determinants of demand are • Level of income The level of income is a key determinant of demand. This can be explained by analyzing appropriate country or a region in a country where there is a wide disparity in the income levels of the people inhabiting that area. As a thumb rule, the higher the aggregate level of level income, the higher is the demand for a particular commodity. When the income level is high, people would consume more of the same and the demand would obviously go up. The most common metric used for measurement for this is GDP (Gross Domestic Product). The international global financial crisis, as witnessed recently has left very little money at the disposal of people, with the result that their purchasing power has come down. This would obviously affect the demand for the products manufactured by the company in question. • Population Population is another key determinant of the demand. The more the population, the higher will be demand for a product as people have to use the product. In this case, the product is of common use and not a specialty item; people would definitely buy the product, irrespective of the price increase or lack of money at their disposal. It is another matter that the quantity of purchase may go down, but the demand would be there. • End market indicators It is quite common to use the end of market indicators as determinants of demand. These indicators could be the stock exchange, commodity price, whole sale price index or consumer price index In the case of the company in question, it is obvious that they would analyze the market indicator and the demand of their products would automatically change accordingly. • Availability and price of substitute products As per Michael Porter’s theory of 5 forces, the demand and price of products is also dependant on the price of substitute products. What alternative choices does consumer have for the bath soap? Their availability and their price would count in determining the elasticity of demand. This is applicable for both short and long term. The substitute products available to consumers are shower gels, or natural herbal soaps which they can conveniently buy and use instead of the soap being marketed by the company. • Tastes and preferences Unfortunately for FMCG products, tastes and preference keep on changing with time. What was good or prevalent twenty years back, may not be relevant today. The market dynamics is shaped and controlled by tastes and preferences of consumers as an individual or on collective basis. The company has to keep this fact in mind and keep pace with changing tastes of the people. Here market research would play a key role. The more the company keeps touch with current trends; the better is their understanding of the tastes and choice of their prospects and consumers. The patterns of tastes and preferences can, to a certain extent are shaped by culture and partly by the use of information and knowledge of products and services. Here advertising and sales promotion as well as publicity would play a big role. A continues bombardment of advertisement through various media channels would make the viewer / listener believe that the bath soap he / she is buying ( BLISS ) would do wonders for his / her skin and no other product would be suitable. So the customer ends up buying this product repeatedly. Supply, demand and consumption There is a specific relationship between the above three. The demand shifters discussed above affect the overall demand function or schedule. They do not provide any specific quantity that will be consumed by a potential customer, under various conditions prevailing in the market. The growth of personal income would obviously shift or increases the demand for the product, as a functional relationship (to price or schedule.) In other words, irrespective of the price, if the income level is growing people would buy the product and if the price of the product is brought down, people would buy the product. The same logic holds true for the availability of the product. The consumption of the product is largely influenced by the interaction with the supply position of the product. The supply position has a direct relationship with the price of the product. The products in short supply, would be available or can be sold for a higher price, provided there are no or few substitute products available in the market. So overall, one can conclude that the effect of global financial crisis would have an effect on the determinants of the demand 3. How would you describe the degree and type of competition in the market(s) in which your organization supplies the product? What are the main ways in which your organization competes with other organizations? How do you judge you performance in relation to your organization’s goals or objectives? Since the entry barriers for the product is very low, there is going to be tremendous amount of completion for the product (soap). Not only are there products which have the same function as the one being manufactured and marketed by the company, there are a no of substitute products available which cause a big threat to the company. One can say that the type of competition is intense. In terms of Michael Porter’s 5 forces, there is a threat of rivalry among the competitors which can lead to price wars and ultimately leading to loss or erosion of profits for the company as well as the competitors. The organization competes with the others on price and delivery as well as quality. If the price is reasonable, people would buy the product. Whenever a purchase is made by a prospect, he looks at the value proposition. If the value perceived by him is more than the price charged by the customer, he would go ahead and buy the product. On the other hand if the value perceived is less, than no amount of persuasion or adverting would enthuse the prospect to buy Besides price, the company would also compete on the quality of the product and after sales service, if the quality is maintained, and if the company backs it up with after sales service, there is no reason why the product can not sell. Variety of products offered would also play a key role in acceptance in the minds of the people the more the variety the better is the choice available. Many American companies are surviving on variety of the products offered for sale, which give the customer a choice to choose from. Lastly the performance of the company is judged based on the parameters set by the company, it could be market share, profit (or revenue earned), return of investment, good will of the customers, brand value etc. Reference http://www.econlib.org/library/Enc/OpportunityCost.html http://74.125.153.132/search?q=cache:vNos96ZDqvIJ:www.investopedia.com/terms/o/opportunitycost.asp+opportunity+cost&cd=3&hl=en&ct=clnk http://fampra.oxfordjournals.org/cgi/content/abstract/8/3/237 http://www.fao.org/docrep/w4388e/w4388e0t.htm http://www.consumerdemand.com/ http://www.economyprofessor.com/economictheories/theory-of-consumer-demand.php Consumer Demand By Lawrance G Lux http://www.consumer-demand.org/ http://www.quickmba.com/strategy/porter.shtml http://www.businessballs.com/portersfiveforcesofcompetition.htm



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If you were the manager of the marketing department (or director of community/public relations) for a sports program (you name the level) what would
Posted On: Nov. 11, 2017
Author: Shipra


Public Relations If you were the manager of the marketing department (or director of community/public relations) for a sports program (you name the level) what would the extent of your community or public relations efforts be? What strategies would you use to decide which events and activities to participate in? Public relations help organizations in conveying information about themselves and their activities with the general public as well as media. This is part of the marketing department and can also be used for individuals as well. The job of a public relation officer is to communicate with the target audience either directly or indirectly through a suitable media. The objective of the same is to maintain a positive image of the company and a same time build up healthy relations with the target audience. This can be done by releasing newsletters, press releases from time to time, pubic appearances at important events. A latest trend is to use the World Wide Web and social marketing web sites. Being part of marketing department and handling public relations for sports program , my job would be to promote sports activity and keep the target audience ( in this case the community we live in ) informed about the importance and benefits of sports activity. By organizing special sports events and sponsoring the same, with my company’s name, I can create awareness about my company. Special events such as Thanksgiving Day, Christmas, Boxing Day etc. can be earmarked for promoting sports with the billboards of the company. This would create visibility of the company and also help in building brand image of the company. The audiences would associate my company with sports activity and this would also generate interest in sports, which is an activity for improving health of the people and bringing about a sense of discipline among players and participants. The strategies to be used are advertisements in local press and arranging debates or conferences where famous sports personality would participate. References L'Etang J. (2007) Public Relations: Concepts, Practice and Critique SAGE



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I would chose between a variable of promotion devices because marketing
Posted On: Nov. 11, 2017
Author: Shipra


I would chose between a variable of promotion devices because marketing uses different techniques in order to endorse a new invention or service. Such as communication by word of mouth and sale promotes (promotion mix), the promotion tool for this range from advertisement to promotional marketing of that produce. Having an Ad on mass media can be offer on television infomercials, network page signs, and more. Target market has particular viewers whether through personal selling let say offering door-to-door sales, by telephone or by interact in between buyer and seller. Identifying integrated marketing communication is a method to reaching the impartial part of marketing campaign. This recognized a value of a complete plan that is evaluation of strategic roles such as public relations, retail sales, promotion selling, all providing clarity and maximum communication. “Ads fill newspapers and magazines, and Internet sites use multiple strategies to present ads mixed with content (Coakely, 38503, p. 436). A down-to-earth example that can be used in a marketing plan can evolve from the Internet. In social E-commerce comes when it is maximized effectively once suppliers acquire a total inclusive strategy. This progress comes about with having subject matter, communication, exchange dialog and Exchange. By directing each of these ideas, the suppliers will be attractive new prospects, remaining in touch will created new and old customers, in due course, increasing sales and revenues. Reference Coakely. (38503). Custom book for Ashford:: Sports in Society Issues and Contorversies [VitalSource Bookshelf version]. Retrieved from http://online.vitalsource.com/books/0390142964 With the advent of technology, the use of internet and social media is increasing. It also makes sense to use this media as it proves to be cost effective and reaches a wider audience, especially youngsters who are tech-savvy. However one cannot rule out the benefits of traditional methods of promotion mix as promotional tools as these have proved to be quite effective from time immemorial.



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Franchises of sports quite often show off great values of growth. Several sports
Posted On: Nov. 8, 2017
Author: Shipra


Franchise Valuation Franchises of sports quite often show off great values of growth. Several sports teams have witnessed excellent growth in numbers. Football teams have a valuation close to $ 500 million. The NHL, which is not so popular, is also touching the $ 150 million mark. These numbers are amazing to say the least. However their authenticity needs to be ascertained. One need to have a closer look on what exactly determines the value of a professional sports team. Its assets, quality of players, their achievements put together account for the large differences between the values of teams. Even the size of venue where the game is played, the price of entry ticket, concessional sales, revenue generating from broadcasting, and performance achieved by team members in terms of overall value are some other determinants of success(Leibowitz 2004). Moreover, the moot question is whether these variables are interrelated among leagues. Revenue sharing model adopted by some leading leagues, cap on payroll and other unique features of sport also account for the differences. Professional sports team in North America are owned by corporations. Hence they are exempted to make audited financial statements publicly available. Therefore, many analysts use an empirical price model to analyze transaction price. The results of these findings clearly indicate that age of the franchise, number of local competitors in the area; facility ownership and population of the place where these games are played all have an effect on the prices. Forbes Magazine publishes independently-determined valuations of all franchises in the NFL, NBA, MLB, and NHL each year. There are several models and approaches to valuation, such as Cost/Asset –Based Approach, Market/Sales Comparison, and Income Approach. The cost / asset based approach is based on its potential for future earnings. In simple words, an investor will be unwilling to pay more for an asset that it would cost to obtain another asset that produce the same future cash flow. For professional sport franchises, this approach is not as reliable as the presence of intangible assets in these franchises makes the replacement and reproduction cost approach inadequate for future cash flow or value predictions. The market / sales comparison approach uses principles of competition in a free market and relies on the assumption that in a state of harmony, the price of an investment will apply to similar investments, albeit with some modification (Rosner et al 2004). Analyst can compare and come up with results by noting the differences between the franchise to be valued and other recently traded franchises. The important points to be considered are market size, location, demographics, venue ownership or lease terms, venue revenue, and local television agreements. Due to lack of sufficient data on comparable franchises and variability in value adjustments makes this approach a difficult one to practice. With the income approach, the value of the team is based directly on the present value of the expected net cash flow earned for the duration of the enterprise. The most common estimate of value based on future cash flow uses the discounted cash flow method (Parr et al 2004). By making assumptions about how different value drivers might contribute to future earnings, an analyst can work backward and make a calculation of present value. Both the income approach and the market/sales comparison often are used to make calculations about the value of sports franchises. In addition, both of these approaches employ the several different factors identified as possible contributors to value, such as stadium attributes, ticket sales, and team performance. Analysis of value is based on the data for two consequent seasons. Data that might affect value such as variables and the revenue of the team, the payroll, the age of the team's home stadium, home attendance, ticket price, and the number of television-owning households in the major metropolitan area. Examining the variables (value, revenue, payroll, stadium age, stadium capacity and TV households as well as FCI tickets) for NFL, NBA, MLB and NHL one can easily notice the following characteristics. The average NFL franchise is significantly more valuable than franchises in the other three leagues. NHL seems to be on the low end. Average revenue also follows the same pattern, with NFL team having the highest than Major League Baseball, followed by NBA and NHL trailing the rest. However ticket prices in all leagues have a common average between $ 40 and $ 50. One major difference is that MLB games are cheaper at $ 18 per ticket. References Leibowitz M, L. (2004) Franchise Value: A Modern Approach to Security Analysis John Wiley & Sons Rosner S., Kenneth L. Shropshire (2004) The Business of Sports Jones & Bartlett Learning Parr, R.L. Gordon V. Smith (2005) Intellectual Property: Valuation, Exploitation, and Infringement Damages John Wiley & Sons,



Introduction E-Commerce or electronic commerce is defined as the buying as well as the selling
Posted On: Nov. 7, 2017
Author: Shipra


Marketing GROWTH OF E-COMMERCE OVER THE NEXT FIVE YEARS Introduction E-Commerce or electronic commerce is defined as the buying as well as the selling of the goods as well as services, using the Internet as a medium. This term is often used along with e-business as they have an almost similar meaning. While referring to the online retail and selling the term called e-tailing is sparingly used. The various aspects pertaining to e-commerce include: • E-tailing, which refers to the virtual storefronts, on the websites which includes online catalogs. • EDI or Electronic Data Inter-change, the business to business exchange, of data. • E-mail, social networking and instant messaging as the media, for reaching out to the prospective as well as established customers. • Business to business buying as well as selling. (What is e-commerce) Analysis of Technological, Business and Societal Shift The future of E-Commerce is very bright, as it is beneficial for both, the retailer as well as the consumer with the only challenge being market saturation. Indeed, it turned out to be a self fulfilling prophecy, because, as more number of buyers look upon internet, for their myriad shopping needs, consequently more number of retailers start doing their business, over the internet leading to more consumers as a result. E-Commerce has made doing business quite easier as well as economical, for retailers and merchants. The recent advancements in the technology are now providing a cheaper and faster way, to market and sell the products. It is now seen, that owing to the mass appeal, of Internet as well as its enormous visibility, the marketing and advertising have slowly become an indispensable part, of the E-Commerce business model. It also has the added advantage of less over-head, a wider base for marketing and elimination of infrastructure wastage, such as physical store-front. These brick-and-mortar storefronts have been replaces by E-Commerce sites to a great extent, as it is easier as well as more efficient, to find online, compare as well as decide. Greater visibility offered by E-Commerce will mean, that many small businesses can thus expand, far beyond the limits, of physical stores. It has thus put the control, of how and when, to buy the products as well as the services, into the buyers’ hands. (The Future of ECommerce, 2010) Conclusion All of the above discussion is ample proof that, e-commerce is the order of the day and it is here, to stay. The economic climate in the current scenario might have, dented the rapid growth of it to some extent, but it is not permanent in any way. Moreover, people are nowadays getting more connected, these days, and, almost every aspect pertaining to their life is, very inter-woven. Work, social life, interests, shopping as well as hobbies, all of them are, merging together in different ways into the World Wide Web. Boundaries are consequently getting blurred as we all are heading, to the very same destination albeit in myriad ways. (Self Analysis) REFERENCES The Future of ECommerce. (2010, January 12). Retrieved February 3, 2010, from Optimum7: http://www.optimum7.com/internet-marketing/ecommerce/the-future-of-ecommerce.html What is e-commerce. (n.d.). Retrieved February 03, 2010, from SearchCIO: http://searchcio.techtarget.com/sDefinition/0,,sid182_gci212029,00.html#]



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001 Fly Be airlines position themselves as largest Regional low cost airline, the one
Posted On: Nov. 4, 2017
Author: Shipra


Marketing Phase 1 001 Fly Be airlines position themselves as largest Regional low cost airline, the one of the youngest and most environmental fleet in world. It has been market leader in developing its position in passenger services and even business low cost airline services. It is the first to introduce pre assigned seating facility allowing passengers offer lowest fare with world class quality service. It positioned itself biggest airline in Europe covering 13 countries, 7.5million passengers with standards of reliability, punctuality, reservation and agreed fare after payment. Fly Be airlines from operating regional services to first domestic airline offering two classes recognized by Industry as Best UK regional Airlines then expanded scope to the third party customer services with that shift to innovate idea of ticket to freedom frequent flyer scheme to reward loyal business customer. Fly be airline born with modern brand and changes to commercial, fleet and operational policies to transform the airlines. Fly be airline serves to community and the economic growth of the country. However, the customer perception is important to be analyzed for betterment and large share in market .Perception is set of processes by which the individual becomes aware of and interprets information about the environment. Customer whatever receives information in guises, from spoken words or visual images to movement and form. Perceptual processes, the receiver assimilate the varied types of incoming information for the purpose of interpreting it. Perception meaning to information gathered via the five senses of touch, smell, hear, vision and taste. Perception enable the customer to understand surrounding and ourselves, as by which individuals organize and interprets their sensory impressions in order to give meaning to the environment. Customer Perception for the Fly be airlines as safe, seem less, affordable and world class quality service. Fly be airline which delivers extremely high regulated standards. It is the only airline having comprehensive network of scheduled services which only considers the comfort of the customer of all variety, class and age. It is something a package of worldwide skilled engineers, pilots and apprentices. It is the only airline which doesn’t compromises with its commitments so customer perception toward this flight is full trust with goodwill. (PG Aquinas,2008, Organisational Behaviour, EXCEL) A2 Brand a major issue in product strategy. It is the most distinctive skill of marketers is the ability to create, maintain, protect and enhance brands. Brand an art and cornerstone of marketing. Brand differs from other assets such as patents and copyrights, which have expiration dates. Brand as sign, name, term, symbol, design or combination of them, intent ended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors. Brand of Fly Be Airlines requires being creative, original and compelling. So, that Fly Be airlines able to attain position in market. 1. Fly Be Airlines brand should bring in mind certain attributes which ensures well engineered, durable, highly prestigious ensures more safety of passengers and belongings i.e. Baggage in the journey. 2. It should involve the attribute which must be translated into functional and emotional benefits. Where Fly Be Airlines position itself as largest regional low cost Airlines with high level quality service still need to make feel emotionally to customer important and admired. 3. As Fly be airlines changes to commercial, fleet and operational policies transform to passengers Airlines 4. The culture of Fly be Airlines represents UK, Ireland fully organized with application of disruption management. 5. It should add the feature of fastness while considering the importance of time of customer which effects on image of brand. 6. Good skilled situational awareness control systems set up to reduce the degree of uncertain exigency situations. 7. More focus on IT system as it should be smooth easy to operate by the employees due to which airline system gets affected and customer satisfaction level gets reduced. (Philips kolter,2005) Phase 2 Expanding the brand awareness is vital strategic decision. Fly Be airline should also focus on this long term decision which leads to increase in profitability .It specially focus on the customer interaction and proper awareness to the customer about the changes in the airlines services , growth and targets . For the brand awareness fly be airlines uses its customers as word of mouth advertiser or referent power who consumes the best of services and inform his personal satisfaction to the society. it indirectly creates the best awareness of the services. Not only this fly be airlines uses national regional press conferences, digital email channels, even redesign the website which is direct source of the information with customer. Not this brand awareness done through the great attractive offers which not only retain the customer but also make emotional bonding with the brand, emotions feelings, mood of the customer to be considered in making brand awareness. Brand Repositioning or brand rejuvenation a way of revitalizing an ailing brand. An old brand which is losing its market share over a period of time has to be revitalize through adoption of several strategies like increasing usage of brand. Repositioning or differentiate or introduce a new product involves discovery, innovation and expression. As in fly be airlines repositioned itself from operating regional services to first domestic airline offering two classes recognized by Industry as Best UK regional Airlines then expanded scope to the third party customer services with that shift to innovate idea of ticket to freedom frequent flyer scheme to reward loyal business customer. Fly be airline born with modern brand and changes to commercial, fleet and operational policies to transform the airlines. So, the company always tries to project a positive image of the brand in the customers’ mind. It ensures to develop loyal customer rather than incurring huge expenditure on mass customer testing. Entering a new market and acquiring new customers ,In order to enter in new market an to acquire more new customers the need is to focus on market , kind of the customer available their requirements, already existing competitors whom to compete, the strengths and weaknesses of the competitors. Analyses of the weakness of the competitors and use them as strength to gain share in market. For this the need to provide 1. Conformance quality which customer always expects to have high degree to which all produced units identical with specifications. 2. Durability, a measure of products expected operating life under natural or stressful condition valued attribute. Customer pay more that have reputation everlasting and safety. 3. Reduce delays in flights with proper arrangement of care of customers. 4. Offer Style which creates the distinctiveness which is difficult to copy. 5. Value of product should be given and enjoyed by the customer. Brand Extension are brand names extended to new product categories. Market dynamics throw up opportunities for extending a brand in three forms 1. Extending the brand to another form of same product: the primary benefit derived from both the products is the same. The efficiency level of both is assumed to be similar. Several brands grown in value through this route. 2. Product line extension: adding the related products to a brand that is well established. A marketer resorts to this when he wants a brand to cover different sub segments within same product category. 3. Reaching out to new category: when brand has the potential of providing benefits on another category. (Philips kotler, Northwestern University,2005), (Marketing Management, ICFAI University, 2008) After expanding the market and creating more consumers, consumer before buying new brand try to ensure kind of brand and success of brand , for that he involve in various stages those are discusses : II. Consumer Research to ensure the success of brand Consumer research a process Consumer research is a process of collection, recording and analyzing the information about the customer and at the same time keeping in view the competitors strategies, brands, packaging and the quality of the product available in the market and then to design his program accordingly. Every marketer or producer i.e. concerned with, how to produce and what to produce in order to satisfy the needs and wants of the consumer. For this purpose the marketer identifies the need of the customer and then he design and develop his product .There are different methods that how to get information about the consumer goods and services. 1. Questionnaire Method: In this method a form consisting of different types of personal as well as the related information about the consumer is given and this questionnaire is mailed to consumers with the request to return it after the completion. Thus the marketer collects the information of the customer. 2. Face to Face Conversation Method: In this method the marketer asks the questions about the consumers liking and disliking, attitude, feelings and emotion directly from the consumer and the marketer get the well close information from the consumer. These both methods are common in use but in case of questionnaire the consumers don't care to return it back. After consumer research need is to think over brand strategy decision and their effects are discussed: Brand strategy Decision varies whether the brand is a functional brand image brand or experimental brand. Consumer purchases a functional brand to satisfy the functional need. 1. Functional brand have best chance to satisfy customers if seen as providing superior performance. Functional brand heavily rely on product and price feature. 2. Image brand arises with product or services that are difficult to differentiate or to assess quality or convey a statement about user. 3. Experimental Brand involves the consumer beyond simply acquiring the product. The consumer encounters people and place with these brands. A company introduces line extension, brand extension, multi brand, new brand and co branding. ( Harper W.Boyd Jr, Ralph westfall,stanleyF.Stasch,7th edition, 2005,Marketing Research) (John M, Ivancevich, 9th edition, TataMcFrawHill) 1. A line extension strategy consists of introducing additional items in the same product category under the same brand name, new flavors, forms, colors, added ingredients, packages. Branded variants are specific brand lines supplied to specific retailers. It involves risk and losses specific meaning which is called line extension trap. 2. Brand extension strategy: It offers many of same advantages as line extension the brand name may loose its special position in customers mind through overextension. Brand dilution occurs when consumer no longer associates a brand with specific product or highly similar products which leads to less of brand thinking. Companies are tempted to transfer their brand name research how well brand association fit new product. Brand builds the sales of both the new product and existing product. 3. Multi brand strategy: The strategy which enables a company to lock up more distributors shelf space and to protect its major brand by setting up flanker brands. It enables to enjoy benefit of competitors. A major pitfall in introducing multi brand entries is that each might obtain only small market share .the company will have dissipated its resources over several brands instead of building a few highly profitable brands. Net profit with multiband should be larger even if cannibalism occurs. 4. Co Branding: dual branding in which two or more well known brands are combined in an offer. Each brand sponsor expects that the other brand name will strengthen preferences or purchase intension. Co- Branding in variety, one is ingredient co branding other is same co branding.In Fly be airlines from 1979 till 2008 multibrand strategy is opted. Bibliography JohnM Ivancewich ,2005, Management, Tata Mc.Graw Hill,9th Edition. Philips kotler ,2005, Marketing Mangement, Pearson, 7th Edition. James A F Stoner,2005, Management,Pearson,6th Edition. Harper W.Boyd,Jr, Ralph Westfall, Stanley F Stasch, 2005,Marketing Research, 7th Edition. PG Aquinas,2008, Organisational Behaviour, EXCEL



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"competition in quality and service may be just as effective as price competition in giving buyers more for thier money". Do you agree? Why?
Posted On: Nov. 4, 2017
Author: Shipra


Marketing Answer study question #4 "competition in quality and service may be just as effective as price competition in giving buyers more for thier money". Do you agree? Why? Explain why monopolistically competitive firms frequently prefer nonprice competition to price competition. I fully agree with this statement. In any business, there are several competitors. As per Michael Porter’s theory of 5 forces, there are basically five forces which act in any Industry viz. 1. Threat of buyers 2. Threat of suppliers 3. Threat of substitute products 4. Rivalry 5. Threat of new entrants As we can see, all these threats deal with competition, be it supplier, buyer, or competition in the strictest sense. The business is always worried about quality and service of the products. Buyers pay a lot of attention to the quality of the product they wish to purchase. Even though quality is a perception, as the saying goes, each one to himself, still the fact is that a person will buy a product (or avail a service) only if he is satisfied with its quality. I.e. If he is confident that the purpose for which he is buying it, is served. The question of quality would arrive only if the product is requiring service, which may not always be the case. However the fact remains that the customer would definitely look for quality and service aspect. The price definitely plays a big role in purchase, but the customer‘s needs are different and any one who buys a product or service would like to make sure that it serves its purpose. Moreover, no one would pay a particular price for a product unless it meets his requirement and also in case of malfunctioning of the same, he would expect the same is attended to without any further delay. Take the case of an automobile, be it Ford or Chrysler or Toyota. Any customer would buy the care for meeting his needs (prestige, convenience etc). He would also expect that in case the automobile is not working properly, the respective garage owner would repair it. Price is equally important but not at the cost of quality or service In the case of monopolistic companies, they prefer non price completion. The reason for this is that sooner or later, it is easy to copy the product or bring out substitute ( refer Michael Porters theory ) and in such a case the monopoly of the company would not remain so the only way a company can stay competitive in the market is by way of quality and service Answer study question #9 . This question is an application of chapter 3 as well (ch 3 is Demand, Supply, and Market Equilibrium). Your thorough response of 300 words of more must be accompanied by appropriate graphs. This question will be allotted the most of the essay questions so make sure you showcase and articulate the knowledge you have learned in this class. study questions 9 Use supply and demand curve to depict equilibrium price and outputin a competitive market for some farm product. Then show how an above equilibrium price floor( price support) would cause a surplus in this market. Demonstrate in your graph how government could reduce the surplus through a policy that (a) changes supply or (b) changes demand. Identify each of the following actual government policies as primarily affecting the supply of or the deman for a particular farm product: acreage allotments; food stamp program; Food for peace program; a government buyout of dairy herds; export promotion. Demand supply and equilibrium Demand and supply of a product plays a very big role in its pricing in any market. Let us take an example of a farm product such as Milk. This is an essential item on any one’s diet and almost everyone has it, even though the quantity of consumption may be different As can be seen in the graph shown above the price of the product ( milk ) would depend on the demand and the production capacity of the companies . Once the stage of equilibrium is reached, the price becomes static and would not change drastically unless there is some drastic action by either government agency or other suppliers . the stage of equilibrium means that the demand and supply are more or less equal . The equilibrium price floor ( price support ) would play a very big role in the price and demand of the product. It either cause a surplus or a shortage in the market. The government policy would drastically affect the price or demand of the product ( milk ). We will take all the actions of the government one by one and see how this affects the demand / price a. Changes in supply and changes in demand due to shortage The above can be affected by a government policy change. If the demand of the product is very high, and supply is limited, there could be increase in price due to shortage of milk. In such a case the suppliers would try to take advantage of the situation and increase the price or charge an exorbitant price for milk this would not only cause hardships to the consumer but may also lead to a law and order problem. The government can step in and help the industry and the consumers by relaxing import restrictions and allowing companies to import the milk from other countries. The government can also allow the companies to increase their production capacity. b. Changes in supply and demand due to excess / surplus This situation would result when there is excess supply of milk in the product either because the capacity of the companies is high or because people have stopped buying milk ( a situation which is quite unlikely but never the lees can exist. Here the government could step and provide support by way of • acreage allotments • food stamp program • Food for peace program • a government buyout of dairy herds • export promotion each of these actions would result in price support to the producers / farmers . the food stamp program would help people to buy more of the milk and thus sustain the consumption .similarly the food for peach program would also help in a big way in making sure that the consumption pattern is maintained. The government can also purchase the product and keep in its stock for distribution to people at a later date when the supply is reduced The government can also provide support for export by giving incentives so that the excess produce is exported and the companies can generate profit



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Brand extension and flanker branding are common strategies for large corporations. Access the following websites; identify the various brand extension strategies and flanker brands used by each co...
Posted On: Nov. 3, 2017
Author: Shipra


Marketing Brand extension and flanker branding are common strategies for large corporations. Access the following websites; identify the various brand extension strategies and flanker brands used by each company. Brand extension and flanker branding are two most common strategies adopted by large and established organizations to take advantage of the established brand name. In brand extension, the company uses the brand name of the established product and launches a new but a bit different product in the same product category. In flanker branding, the company launches a new brand in the market in the same product category where an established brand already exists. It competes with the existing brand but aims to achieve a larger total market share for its products. a. Marriott Hotels (www.marriott.com) Residence Inn Miami Aventura Mall and Residence Inn Orlando Altamonte Springs/Maitland are examples of brand extension where the amenities are the same but there is a price difference between the two. Residence Inn St. Petersburg Clearwater and the Ritz-Carlton, Amelia Island are the examples of brand extension strategy. b. Proctor & Gamble (www.pg.com) Tide is a very successful brand in the product category of laundry detergent. To appeal to people who desire a low- cost detergent , P & G introduced Cheer which is a slightly a product of slightly lower quality at a value price. Sale of Tide dropped slightly with the launch of this new brand but combined sales of Tide and Cheer went up. (Example of flanker branding). Crest is a trusted brand of tooth paste. Under this brand name P & G has tooth pastes by the names Crest Cavity Protection Toothpaste and Crest Cavity Protection Gel Toothpaste, which is an example of Brand extension. The product category is the same but by bringing change in composition of the ingredient; the company has been able to introduce a new variety of the same brand. c. Sara Lee Corporation (www.saralee.com) Sara Lee Delightful and Sara Lee Smooth are examples of flanker branding. Sara Lee Hill Shire Farm Beef Hot Links and Sara Lee Hill Shire Farm Baked Honey Cured Ham are the examples of brand extension. d. VF Corporation (www.vfc.com) Lee and Rustler are examples of flanker branding strategy. While Lee is expensive and caters to high end customers, Rustler is for price conscious customer. Wrangler Hero and Wrangler are examples of brand extension. 2. How can a label support an IMC program or advertising campaign? A label is defined as an item used to identify something or someone. It could be a small piece of paper or cloth attached to an article to designate its origin, owner, contents, use, or destination The purpose of label is to indicate several things such as brand name, price, and size of the packing. It also helps as a protective device and is used for protecting the contents of the item being sold. It creates awareness and communicates brand identity. It also communicates each brand uniquely to distinguish it from the rest and create a niche target segment. It helps in creating a brand recall value. At every stage label is a part of communication design. Use of a label goes a long way in helping the advertising a product and increasing its appeal to the target customers. (Schultz et al.1993) 3. For each of the following goods or services, identify the various benefits that consumers may derive from the good or service. Can you think of an advertisement or other marketing communication that has used the benefit as the central part of its appeal? a. Seafood restaurant— Customers can get a relaxed feeling by visiting seafood restaurant and enjoying the food in a cozy atmosphere. (seafood - fresh fish/catch) b. Auto insurance---- in case of accident or damage, consumers can lodge a claim and minimize their losses to a large extent. (Your safety and well being is our concern.) c. Optometrist or eye care clinic-----A good optometrist would help you in providing a suitable pair of spectacles for protection of your eyes which is not only useful for eyes but fashionable to wear (eye care at your door step.) d. Soft Drink===A drink which quenches your thirst. It also helps in digestion (soft drink - feel good factor) e. Aspirin or other pain reliever------ looks for a pain reliever which gives you quick relief from all types of pains and also does not have any side effects. (Just one is enough to down your worries.) 4. What is GIMC? Why is it important for multinational firms? The world is converging and becoming a global village. The demands for standardized products and services are increasing. Due to travel/exposure people are aware of what is happening in the rest of the world. All this makes people aware of what they want. This also gives a boost to the knowledge to a global consumer. It puts the MNC on their toes to design a suitable communication programs to convey the correct message to their target customers. (Baker et al. 2007) So, GIMC helps retain the same brand personality and identity to communicate to similar consumer segments world wise. It is also more cost effective as the same method of communication can be used for different market segments. A small amount of change may be necessary to suit the local market conditions. 5. What generational cohorts have marketing experts identified? A generational cohort is defined as "the group of individuals (within some population definition) who experience the same event within the same time interval". The concept of a group of people bound together by the sharing of the experience of common historical events developed in the early 1920s. The chosen target segments are grouped together and identified for marketing activities. (Meredith et al.2002) For example for the baby boomers, the commonality is the desire to try newer things. With this common aspiration, marketers make an all out effort to seek the best for their business. This is done with the objective of taking care of target customer’s needs The generation X and the generation Y have different need. They are more inspirational. They are not satisfied with older models or styles. They need newer things to try out. Marketers identify this need and have become more innovative in their approach. But now of late - new segment that is identified and very crucial is gen D, which is digital generation. This generation was born and brought up in the digital era. They have experienced new technology which fast, and user friendly. Marketers are coming up with latest gadgets with newer features such as i-pods or i- phones and digital cameras to satisfy the need of such people. References http://europa.eu/legislation_summaries/consumers/product_labelling_and_packaging/index_en.htm accessed on July 14th 2011 http://www.multimediamarketing.com/mkc/marketingcommunications/ accessed on July 14th 2011 http://www.ehow.com/facts_7304408_global-integrated-marketing-communication.html accessed on July 14th 2011 http://www.uiowa.edu/~nrcfcp/training/documents/Participant%20Packet%20Intergen%20Dynamics.pdf accessed on July 14th 2011 Meredith G.E. Charles D. Schewe, Janice Karlovich 2002. Defining markets, defining moments: America's 7 generational cohorts, their shared experiences, and why businesses should care USA. 1st Ed. John Wiley & Sons Schultz D.E. Stanley I. Tannenbaum, Robert F. Lauterborn 1993. 1st Ed. USA. Integrated marketing communications McGraw-Hill Professional Baker M.J. Susan Hart. 2007. The Marketing Book 6th Ed. UK. Butterworth-Heinemann



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Integrating sports sponsorship into the corporate marketing function: an international comparative study The Authors
Posted On: Nov. 3, 2017
Author: Shipra


Integrating sports sponsorship into the corporate marketing function: an international comparative study The Authors Francis John Farrelly, Monash University, Melbourne, Victoria, Australia Pascale G. Quester, The University of Adelaide, South Australia, Australia Richard Burton, University of Oregon, Eugene, Oregon, USA Abstract While sports sponsorship has attracted strong interest and increasing investment from marketing professionals, the literature seldom investigates empirically the process by which sports sponsorship decisions are made. Using a survey of sponsorship decision makers in North America and Australia, presents a number of interesting differences with respect to the sponsorship practices of the two samples. Examines the manner in which corporations integrate sponsorship into the broader marketing function at different levels of the organizational structure, and their inclination to do so. Considers managerial implications and the directions which future research in this area should take. Article Type: Research paper Keyword(s): Australia; Decision making; Management; North America; Sponsorship. Journal: International Marketing Review Volume: 14 Number: 3 Year: 1997 pp: 170-182 Copyright © MCB UP Ltd ISSN: 0265-1335 Introduction While the growth of sponsorship is undeniable - worldwide sponsorship expenditures currently exceed US$10 billion and are expected to exceed US$15 billion by 1997 (IEG, 1996) - the extent to which it is accompanied by a calculated, synergistic integration within the broader communication and marketing function needs further examination especially as empirical research in the area is lacking (Quester, 1997). Although there are signs of an increasing integration of marketing communication planning and implementation generally (Poiesz and Robben, 1994; Varadarajan, 1986), the extent to which sports sponsorship contributes to this synthesis is unclear. What is apparent is the need for more research investigating what has been coined “sponsorship-linked marketing” (Cornwell, 1995), which includes the deliberate attempt to utilize sports sponsorship as the foundation for the selling proposition and the basis on which marketing activity is developed. There is also a need to consider the incidence and impact of sponsorship integration into the different levels of organizational hierarchy. Numerous theorists (Shanklin and Kuzma, 1992; Turner, 1987; Witcher et al., 1991;) have suggested that the level of attention and aptitude devoted to sponsorship is commensurate with the level of its hierarchical integration. With the above in mind, this international study investigates the current level of integration of sports sponsorship into the broader marketing function from both the organizational and communication perspectives. Consideration is also given to its likely integration in the future. A comparison of two countries, North America and Australia, was undertaken to produce findings of international relevance and applicability. The study also tested an assumption made by the authors that North America is a more mature market than Australia in respect to sponsorship application, and examined whether this would translate into a greater degree of management sophistication, and in particular, a greater degree of integration within the organization and the broader marketing effort. Factors constraining the advancement of sponsorship integration There has been a proclivity on the part of practitioners to analyse and evaluate sponsorship, including sports sponsorship, exclusively in advertising terms (Farrelly and Hirons, 1995; Harris, 1993; Hulks, 1980; Meenaghan, 1983; Mescon and Tilson, 1987; Parker, 1991; Sparks, 1995; Vavra, 1990). This comparison has often been detrimental to sponsorship, leading to its under-utilization, particularly in conjunction with other communications tools. Hastings (1984) noted that sponsorship and advertising differ in many aspects, including objectives and evaluation techniques, and stated that sponsorship has unique characteristics which demand recognition and understanding before it can be purposefully integrated into the marketing function. Specifically, Witcher et al. (1991) suggested that functional control of sponsorship had an impact on the objectives utilized and the level of management and measurement effectiveness applied to the medium. Their hypothesis was that the closer sponsorship is to the marketing function, the more detailed and realistic the sponsorship objectives become, and the more stringent the evaluation criteria for judging its performance are. Some researchers even suggest that sponsorship management is neglected because of the place it has assumed in the organizational hierarchy. According to Gilbert (1988), the corporate sponsorship function has not traditionally been the province of the marketing department due to its philanthropic origins. Developments in the sponsorship planning and integration process While sponsorship is a potentially powerful attitude-forming technique, companies seemingly pursue only a limited range of objectives with it (Gilbert, 1988). Many sponsorships appear to be entered into without any clear, formal objectives in mind, and as little was known about sponsorship, the objectives set are often inappropriate or deficient (Otker, 1988). Furthermore, and despite the increasing commitment of funds in recent times, companies (Australian ones in particular) continue to engage sports sponsorship with limited formal planning and integration. Hirons (1990) surveyed 30 Australian companies and noted that while 52 per cent of respondents had made an attempt to formalize the sponsorship process in some way, only 9 per cent made their sponsorship policy a part of the marketing or brand plans. Polonsky et al. (1995) carried out a study of the use of sports sponsorship by small businesses in Australia and found that the investment was not well integrated into the firms’ overall marketing plans. These findings were also similar to some of the responses uncovered in the exploratory research carried out as part of this study. In-depth interviews were conducted with managers of ten large North American and Australian organizations, focusing on sponsorship management issues, including the incidence of sponsorship integration into the marketing function. These interviews, each lasting approximately one hour, were conducted by one of the authors over a period of one month in 1996. On all occasions, the initial interview was followed up by a second interview conducted either by telephone or in a face-to-face setting, in order to clarify any issues deemed important in the context of the study. The research revealed somewhat mixed management opinions about the expected gains to be derived from sponsorship and its integration into the marketing function. While there was indication of management proficiency and attention to detail in terms of integrated application, there were also examples of large investments made with limited knowledge of the nature of the communication process involved. In these incidences minimal synchronization of the medium with other marketing tools takes place. A clear rationale for involvement in sponsorship also appeared to be lacking for a number of respondents and translated into limited planning and objective setting. This contrasts with the view suggested in the literature that marketing action should be borne out of a knowledge of the market and the medium (Meenaghan, 1983; Otker, 1988; Shanklin and Kuzma, 1992; Sleight, 1989). However, these initial interviews also revealed that some deliberate integration of the communications elements around the sponsorship programme did occur, as described by Cornwell (1995). While not necessarily placing sponsorship at the forefront of their communications programme, three of the respondents stated that they took considerable action to integrate the sponsorship with other communications activities. Study methodology and sample The in-depth interviews provided the foundation for the development of a questionnaire which was further tested with three sponsoring companies in North America and two in Australia. The questionnaire probed sponsorship management responsibility, selection and review process, sponsorship planning procedures including objective setting, integration and evaluation, and the amount invested in related marketing activities, as well as future sponsorship activity. Minor amendments were made on the basis of the comments received and a 21-item questionnaire was finalized and mailed, along with a personally addressed cover letter, to 400 firms (200 each in North America and Australia). Non-respondents were followed up four weeks later with a telephone call in an effort to reduce non-response bias (see Appendix 1 for full question details). Meenaghan’s (1991a,b) definition of sponsorship was spelt out at the beginning of the questionnaire in order to establish clearly the meaning of sponsorship as intended in the survey: Sponsorship is an investment, in cash or in kind, in an activity, person or event (sponsee), in return for access to the exploitable commercial potential associated with that activity, person or event by the investor (sponsor). This paper examines the fully completed responses from a total of 116 companies, made up of 80 Australian and 36 North American companies. Table I shows the breakdown of respondents by sector of operation, with the majority of respondents in both samples derived from the fast moving consumer goods (FMCG) sector which includes beverage, food and confectionery manufacturers. The overall response rate was 29 per cent which is in line with most reported studies of this kind. The relatively poorer North American response rate was expected, and can be explained by the greater frequency of such surveys in the United States and lesser interest on the part of respondents. Findings Sponsorship management experience Experience with sports sponsorship management was measured by the length of time an organization had been involved in sport sponsorship as well as by the number of sports sponsorship programmes undertaken in 1996. The study revealed that 63.9 per cent of North American companies and 41.3 per cent of Australian companies had been involved in sports sponsorship for more than ten years and that 22.2 per cent of North American companies and 25 per cent of Australian companies had been involved in it for a period of five to ten years. Of the Australian respondents, 13.8 per cent of companies had less than two years experience in sports sponsorship, while none of the North American respondents indicated experience of less than two years. Furthermore, as indicated in Table II, a larger percentage of North American respondents undertook a greater number of sports sponsorship programmes in 1996, a statistically significant result (t 114 = -3.17; p = 0.002). This and the previous finding confirmed the authors’ expectation that the North American respondents have a greater experience of sports sponsorship management than their Australian counterparts. The extent of management experience was also investigated in respect to the incidence of expenditure related decision making at various levels of the organizational hierarchy. This was also examined according to the nature of the management task. The results are presented in Table III. Independent sample t-tests showed statistically significant differences between the North American and Australian samples in the level of involvement in expenditure related decision making. The number of North American respondents indicating that the marketing department was involved in proposal assessment was significantly greater (t 79.13 = 2.40; p = 0.019) than in the Australian sample, suggesting a greater degree of delegation among the North American firms. North American advertising departments were also significantly more involved in proposal assessment (t 52.18 = 1.69; p = 0.097) and in implementation/ evaluations (t 51.49 = 4.04; p = 0.000), than their Australian counterparts. Furthermore, North American product/brand managers were significantly more involved in proposal assessment (t 56.70 = 2.70; p = 0.009), implementation/ evaluation (t 56.90 = 2.42; p = 0.019), and in renewals (t 52.21 = 2.21; p = 0.031) than were Australian product/brand managers. The increased involvement by advertising departments and product/brand managers in the North American firms suggests stronger integration by way of more cross-functional communication. Current sponsorship planning and integration practices Respondents were asked to select which factors were most indicative of their planning approach. For the purpose of this study, the level of integration was measured according to the importance allocated to related factors such as “fit with the corporate plan” and “contribution to corporate image”. It was felt that consideration of the corporate marketing plan during the initial sponsorship planning process demonstrated its role as integral to the wider communication mix, in turn, to the overall marketing mix. Issues such as competitors’ sponsorship assessment, review of past sponsorship performances, and the establishment of measurement details and schedules were considered less significant. On the whole, those activities that were more likely to indicate greater integration of sponsorship into the marketing function at all levels of the organization featured more in both countries than other planning activities. Moreover, independent sample t-tests were conducted and statistically significant differences were found between the North American and Australian samples. “Assessment of fit with the corporate plan” was rated highest, with North American respondents finding this element significantly more indicative of their planning process than did Australian respondents (t 90.81 = 1.87; p = 0.065). This was followed by “assessment of contribution to brand or corporate image”, which was significantly more characteristic of the planning process of the North American respondents than of the Australian respondents (t 97.26 = 2.18; p = 0.032). In percentage terms, North American organizations placed more emphasis on “assessment of fit with the corporate plan” (+13.6 per cent) and “assessment of contribution to brand or corporate image” (+15.1 per cent) than the Australian organizations. In the Australian sample, objective setting as a characteristic of the organization’s sponsorship planning process was significantly correlated with the establishment of measurement details and schedules (r = 0.3498; p = 0.001), and with the use of evaluation and performance audit activities (r = 0.2724; p = 0.014), while for the North American sample no such relationship was evident. As would be expected however, the use of evaluation and performance audit activities was significantly correlated with the establishment of measurement details and schedules for both the Australian (r = 0.4642; p = 0.000) and the North American (r = 0.5547; p = 0.000) samples. It was expected that a greater “top down” delegation of the sponsorship role previously (especially in North America) would have translated into an increased understanding of the medium and into more integration into the communications plan. Despite this, there was little difference to be noted in the results of the two samples. It may have been that integration into the communication plan was taken for granted as a consequence of the assessment of sponsorship at the corporate level, and that, consequently, respondents (particularly North American) did not feel the need to mark it down on the questionnaire. Overall, however, our results support the proposition that sponsorship is perceived as a more strategic tool in North America than in Australia, with evidence of greater North American attempts at devising sponsorship programmes that are synergistic with broader corporate goals. Future sponsorship management and integration An indication of what sponsors were looking for in future sponsorship projects was examined by asking respondents to assess the relative importance of 12 criteria when determining the worth of a sponsorship proposal (see Appendix 2). Figure 1 and 2 graphically illustrate the findings. The criteria deemed important by respondents in assessing the worth of a sponsorship proposal were similar for North American and Australian firms. For both samples, the strategic fit of the proposed sponsorship programme with the brand or corporate image was the most important criterion (88.9 per cent and 81.3 per cent respectively), followed by access to specific target media or event audience (83.4 per cent and 80.0 per cent respectively). These two variables were shown to be significantly, if weakly, correlated in both the Australian and North American samples (r = 0.3105, p = 0.005; and r = 0.3109, p = 0.065). Complementarity of the sponsorship programme with other communication tools was considered by 61.3 per cent of the Australian sample and 52.8 per cent of the North American to be important in determining the worth of a sponsorship proposal. Criteria such as client entertainment value (66.7 per cent and 66.3 per cent neutral or not important for North American and Australian companies respectively) were rated significantly lower, which at least in the case of the Australian companies, was a departure from the findings of previous research. Scott and Suchard (1992) surveyed 132 Australian firms and found that client entertainment was considered a most important aspect of sponsorship as it was deemed to improve company and product awareness, and to bolster market share. The Australian results in this study tended to be more uniform across all criteria, whereas there was more distinction made between factors by North American respondents, possibly reflecting an increased ability to distinguish and prioritize critical success factors which in turn could be linked to the greater familiarity with the sponsorship function. Respondents were also asked to estimate (in percentage terms) the amount of time today’s sponsorship manager would spend on various sponsorship-related activities, as well as to provide a similar estimate for a sponsorship manager engaged in a year’s time (see Appendix 3). The activities stated were: proposal evaluation, creating and finalizing deals, attending events, evaluating performance, integrating with other communication areas, and planning. The North American sample generated the highest expected percentage (+14.1 per cent) in relation to the time spent integrating sponsorship with other elements of the communications mix. In Australia, it appears that more time is spent on evaluating proposals and creating and finalizing deals than planning, with integrating with other elements of the communication mix afforded the least amount of time next to attending events. In other words, while both samples suffer equally from a lack of integration of sponsorship within their communication strategy, only the North American firms appear to expect this situation to be redressed in the foreseeable future. Possibly, the existing inclination to integrate sponsorship into the corporate plan in North America makes it more apparent and likely that a similar integration should occur at the marketing level as well. Sponsorship-related activities According to North American respondents, for every dollar spent on sponsorship, an average of between $1.00 and $2.00 was spent on related activities such as advertising, sales promotion, PR and client entertainment. At the same time, 72.2 per cent of respondents indicated that less than 10 cents was spent, for every dollar, on performance measurements of specific sports sponsorship. For the Australian sample, an average of between 50 cents and $1.00 was spent on related activities for every dollar spent on sponsorship, and 55 per cent of respondents indicated that less than 10 cents was spent, for every dollar, on performance measurements of specific sports sponsorship, with 18 per cent spending between 10 cents and 50 cents. These results differ substantially from those suggested by Eisenhart (1988) who estimated that for every dollar spent on advertising another five were spent on sponsorship-linked marketing type activities, and come closer to those suggested by Gilbert (1988) whose recommendation was that double the initial sponsorship fee is needed in support communication. It may also indicate that the sponsorship is not fully used as a foundation for the communication initiative. Conclusions and managerial implications Limitations which must be borne in mind when interpreting any survey results include the non-response bias associated with a response rate of around 30 per cent. Nonetheless, a number of managerial implications can be drawn from the study. It is encouraging to think that currently those activities which facilitate greater integration of sponsorship into the marketing mix, featured more in both countries than other planning related activities, yet before any real credit can be attached to the activity, there must be greater effort made to measure its outcomes. There is a distinct need for management to continue to research the role of sponsorship in the strategic plan, the communications mix, and its place in the organizational hierarchy. An aim of this research should be to sharpen the ability to set “medium” sensitive objectives, performance indicators and evaluation scales, and to clarify (in detail) these expectations, before funds are committed and effort is taken to integrate sponsorship into the broader marketing effort. Only then can a meaningful assessment of sponsorships existing or future contribution be undertaken. The results clearly reveal that sponsorship management priorities are different between Australian and North American firms. At the corporate level, North American firms seemed more prone to looking at sponsorship as a strategic, rather than a solely communication focused tool. Australian firms, on the other hand, were significantly less likely to do so. Moreover, whereas North American firms anticipate that greater efforts will be devoted to integrating sponsorship with other elements of the communication mix, Australian firms appear unaware of this opportunity, which may retard the effectiveness of sponsorship management and likely gains in the future. The need to address this, and other issues raised in this paper, becomes crucial when one recognizes that while sponsorship activities surrounding an international event of the magnitude of the Sydney 2000 Olympic Games will provide unprecedented opportunities to influence global target markets, they will also present the occasion for costly mistakes and poor investment decisions. Furthermore, although on the whole North American firms appear to be working towards applying sponsorship in a more deliberate, strategic manner, the benefits of this are not clearly evident, given their lack of attention to performance measures. Directions for future research Future research needs to be conducted to confirm or refute whether the level of attention and aptitude in application is proportionate with the degree of hierarchical integration. More consideration should be given to the possible counter-productive effects of excessive hierarchical integration which may result in inefficient decision making as too many managers have input in the process. Specifically, research should investigate whether an increased level of hierarchical integration may result in the dilution of sponsorship effectiveness, perhaps as a result of middle management conflict about the nature and degree of effort to be devoted to planning, the amount of budget allocated to it rather than to other elements of the mix, and so on. It would also be worthwhile to explore the internal communication processes that lead to decision making delegation in order to establish whether they impact the extent of synergistic interplay among practitioners, and the overall corporate objective and strategy. It may also be important to assess the motivations of sponsorship selection by lower levels of management, based perhaps on their perceptions of what they believe senior management will accept, rather than what may generate optimal return on investment. The authors believe that it will be important to replicate this study in two to three years’ time with the same sample to assess whether the level of integration, which appears correlated with the degree of corporate experience with the medium, has changed, and if indeed the change has resulted in a better profit performance. It may be that “top down” delegation becomes detrimental to sponsorship performance if management fails to see the “big picture” (an outcome most likely among multinationals serving numerous international markets), and in particular, the valuable strategic contribution sponsorship can make by way of consistent corporate and brand positioning. As mentioned, the lack of performance assessment, particularly by the more experienced North American organizations, is an issue for concern and one that warrants continued research attention. The results in this study go against the reference made by Meenaghan, who in commenting on the findings of a Mintel report (1992), notes: “Their are indications, however, that sponsoring companies are becoming more sophisticated in all aspects of sponsorship management, including the evaluation of program effectiveness” (Meenaghan, 1994). Finally, international studies such as the one presented here are essential in this field as sponsorship continues to be a positioning tool of choice for international marketers seeking to communicate on a global scale. Future research needs to explore the conditions under which corporate sponsorship is most effective in the international arena. Differences in company and country culture, industry type, market maturity and so forth, may also need to be considered. Table ISample description by sector and country Table IINumber of sports sponsorship programmes undertaken in 1996 Table IIIDegree of expenditure- related decision making across management levels according to nature of management task Figure 2Percentage of respondents ranking assessment criteria as important or very important - North American sample Figure 1Percentage of respondents ranking assessment criteria as important or very important - Australian sample References Cornwell, B. (1990), Sponsorship-linked Marketing, . [Manual request] [Infotrieve] Cornwell, B. (1995), "Sponsorship-linked marketing development", Sport Marketing Quarterly, . [Manual request] [Infotrieve] Eisenhart, T. (1988), "Sporting chances zap competitors", Business Marketing, January, pp.92-7. [Manual request] [Infotrieve] Farrelly, F., Hirons, M. (1995), "Assessing the worth of corporate sponsorship", Business to Business Review, August, pp.22-4. [Manual request] [Infotrieve] Gilbert, D. (1988), "Sponsorship strategy is adrift", Quarterly Review of Marketing, Vol. 14 No.1, pp.6-9. [Manual request] [Infotrieve] Harris, T. (1993), The Marketer’s Guide to Public Relations, John Wiley & Sons, New York, NY., . [Manual request] [Infotrieve] Hastings, G. (1984), "Sponsorship works differently from advertising", International Journal of Advertising, No. 3, pp.171-6. [Manual request] [Infotrieve] Hirons, M. (1990), "Sports sponsorship", Syme Department of Marketing, Monash University, Melbourne, unpublished thesis, . [Manual request] [Infotrieve] Hoek, J., Gendall, P., Saunders, J. (1993), "Sponsorship management and evaluation: are managers’ assumptions justified?", Journal of Promotion Management, Vol. 1 No.4, pp.53-6. [Manual request] [Infotrieve] Hulks, B. (1980), "Should the effectiveness of sponsorship be assessed and how?", ADMAP, December, pp.623-7. [Manual request] [Infotrieve] IEG Sponsorship Report (1996), "Sponsorship spending in North America", IEG, Chicago, IL., . [Manual request] [Infotrieve] Kuzma, J., Shanklin, W., McCally, J. (1992), "Make corporate sponsorship more effective with promotional support", Journal of Promotion Management, Vol. 1 No.3, pp.95-103. [Manual request] [Infotrieve] Meenaghan, J.A. (1983), "Commercial sponsorship", European Journal of Marketing, Special Issue, pp.1-73. [Manual request] [Infotrieve] Meenaghan, T. (1991a), "The role of sponsorship in the marketing communication mix", International Journal of Advertising, Vol. 10 No.1, pp.35-47. [Manual request] [Infotrieve] Meenaghan, T. (1991b), "Sponsorship - legitimizing the medium", European Journal of Marketing, Vol. 25 No.11, pp.5-10. [Manual request] [Infotrieve] Meenaghan, T. (1994), "Ambush marketing, immoral or imaginative practice?", Journal of Advertising Research, September, pp.77-88. [Manual request] [Infotrieve] Mescon, T., Tilson, D. (1987), "Corporate philanthropy: a strategic approach to the bottom line", California Management Review, Vol. 29 pp.49-61. [Manual request] [Infotrieve] Mintel (1992), Special Report on Sponsorship, Mintel, London., . [Manual request] [Infotrieve] Otker, T. (1988), "Exploitation: the key to sponsorship success", European Research, Vol. 26 No.2, pp.77-86. [Manual request] [Infotrieve] Parker, K. (1991), "Sponsorship: the research contribution", European Journal of Marketing, Vol. 25 No.11, pp.22-30. [Manual request] [Infotrieve] Poiesz, T., Robben, H. (1994), "Individual reactions to advertising: theoretical and methodological developments", International Journal of Advertising, Vol. 13 No.1, . [Manual request] [Infotrieve] Polonsky, M., Cassey, M., Murphy, S., Portelli, K., Van Velzen, Y., Sandler, D. (1995), "An exploratory investigation of sports sponsorship by small business in Australia", 7th Bi-Annual World Congress Proceedings, Melbourne, Australia., . [Manual request] [Infotrieve] Quester, P.G. (1997), "Awareness as a measure of sponsorship effectiveness: the Adelaide Formula One Grand Prix and evidence of incidental ambush effects", Journal of Marketing Communications, Vol. 3 No.2, . [Manual request] [Infotrieve] Scott, D., Suchard, H. (1992), "Motivations for Australian expenditure on sponsorships", International Journal of Advertising, Vol. 11 No.4, pp.325-32. [Manual request] [Infotrieve] Shanklin, W.L., Kuzma, J.R. (1992), "Buying that sporting image", Marketing Management, Spring, pp.59-67. [Manual request] [Infotrieve] Sleight, S. (1989), Sponsorship: What it is and How to Use it, McGraw-Hill, Cambridge, MA., . [Manual request] [Infotrieve] Sparks, R. (1995), "Rethinking media evaluation: tobacco sponsorship messages and narrative conventions in motorsport telecasts", 7th Bi-Annual World Congress Proceedings, Melbourne, Australia., . [Manual request] [Infotrieve] Turner, S. (1987), Practical Sponsorship, Kogan Page, London., . [Manual request] [Infotrieve] Varadarajan, P. (1986), "How consumers react to advertising", International Journal of Advertising, Vol. 8 pp.261-73. [Manual request] [Infotrieve] Vavra, T. (1990), Aftermarketing: How to Keep Customers for Life Through Relationship Marketing, Business One, Irwin, Homewood, . [Manual request] [Infotrieve] Witcher, B., Craigen, G., Culligan, D., Harvey, A. (1991), "The links between objectives and function in organizational sponsorship", International Journal of Advertising, Vol. 10 pp.13-33. [Manual request] [Infotrieve] Appendix 1 Which of the following are characteristic of your sponsorship planning process? • Review of past sponsorship programmes performances • Competitor’s sponsorship assessment • Assessment of fit with corporate plan • Identification of strategic relationships/alliances • Market research and benchmarking • Objective setting • Assessment of contribution to brand or corporate image • Analysis of consistency with overall communication mix • Establishment of measurement details and schedules • Evaluation and performance audit activities • None of the above • Other (please specify)______________________ Appendix 2 Please indicate the importance of the following criteria in determining the worth of a sponsorship proposal using a scale from 1 (not important at all) to 5 (very important): • Budget • Opportunity for differentiation • Access to specific target media or event audience • Strategic fit with brand or corporate image • Client entertainment value/client relations • Employees’ morale • Media coverage/publicity opportunity • Exclusivity • Naming rights • Executives’ personal preferences • Opportunity for long-term association • Complementarity with other communication tools • Other (specify) Appendix 3 If a sponsorship manager was hired today to take over all sponsorship-related activity currently undertaken in your organization, how would that person’s time be divided (please allocate percentages)? • Proposal evaluation • Creating and finalizing deals • Attending events • Evaluating performance • Integrating with other communication areas • Planning



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Name: Date: MARKETING -- TEST #1 Chapters 1-9 Total points – 100 Short Answer: Please indicate your answer to the following eight questions
Posted On: Nov. 1, 2017
Author: Shipra


Name: Date: MARKETING -- TEST #1 Chapters 1-9 Total points – 100 Short Answer: Please indicate your answer to the following eight questions. 1. Discuss the micro-macro dilemma and the importance of social responsibility as they relate to marketing Macro marketing is a social process that makes the products flow from the manufacturers to the end user. It has a tremendous effect on society which in turn, also affects the producers. The objective of macro marketing is to make sure that the mismatch between supply and demand for products and services are reduces to make sure that the societal objectives are met with. This objective is in a direct conflict of the primary objective of the companies which is to generate profits for its stakeholders. According to micro marketing viewpoint, organization’s goals are make profit. But as per macro marketing viewpoint, companies have to strike a balance between the two, viz. generate revenue and meet objective of helping society. When the two objectives i.e. macro and micro marketing objectives clash the companies end up in a dilemma. This is based on the assumption that what is good for the company and the consumers may not be good for society as a whole. For example, consumers want a product that is cheap and affordable. The company makes an effort to make them reasonable for customers to buy and in the process uses material that is harmful to the environment. So the company is failing in its obligations to society to maintain environmental balance. 2. Discuss the four basic types of marketing opportunities (chapter two) a firm might pursue and illustrate your response with an example of your choosing. a firm has several opportunities to pursue its mission. for example in the case of women clothes, it can make clothes that are trendy and target fashion conscious women it can also use a strategy of making the clothes available to a wider population of women thereby increasing its market share. or it can use the strategy of being exclusive thus focussing on a very small niche market and also charge a high price, thus increasing its revenue. Brand conscious people would patronize them 3. List and discuss the four components of the marketing mix as they would relate to a specific target market of your choosing Taking example of specific target market viz. women we can determine the four components of the marketing mix. Basically the four components are price, place, product and promotion. We have already chosen product as clothes. These clothes can be trendy or casual. Assuming we chose trendy clothes say, tops, we have several varieties to choose from. To be more specific, we shall target young women of age between 16 to 24. The price for the product shall be in accordance with the status of our target market that is wealthy. We can use skimming pricing as our product is unique and can be sold easily. The items shall be sold in boutiques and special stores. For promotion, we can use celebrity to endorse our product that would create a good impression on the minds of young women. 4. Discuss three dimensions for segmenting markets and illustrate your response with an example. The three dimensions of segmenting market involve STP viz segmenting, targeting and positioning. Segmentation has to be done first that would focus on the chosen market. The segment has to be in line with the company’s vision. Once segmentation is done it has to be analyzed to find out if it is large enough to be profitable. We target this market with strategy that is suitable for them. We position the product in such a way that it meets the requirement of the target market. 5. Describe the scientific method as it relates to marketing research Marketing research involves studying the target market and finding out solutions to the problems related to marketing. A scientific method would help us in collecting data that is useful and easy to analyze. For this we have to prepare a good research design, select a sample that is reasonably representative of the target market and prepare an exhaustive questionnaire to get answers from the sample. We have to make sure that there is no bias in collecting the information. Results once obtained, should be analyzed using analytical tools so that the presentation of solution can be made without any ambiguity. 6. Briefly discuss the four types of product classes and their importance to an understanding of marketing. Product classes can be categorized on the basis of types of customer.so one can have consumer products of business products. The former type of products is purchased for consumption by self or family and friends. Examples include convenience products ( customer is not interested in spending time and effort in purchasing them), specially products ( for which customer spends more time in looking for what suits him and is willing to pay a higher price). Business products are used for making products or for using in the final products. Demand for business products is derived from consumer products. 7. Describe how you might use the new product development process if you were thinking about offering some kind of summer service to residents in a beach resort town Planning for new product development process starts with idea generation. If we have to offer summer service to resident in a beach resort town, we have to find out what kind of service they are looking for. This can be found out by conducting marketing research where we will be able to get ideas from customers themselves. This could generate an idea such as providing a place where people can relax and have a drink. This idea can be tested in house or with a sample of target market. Once the results are obtained, we can modify and then come up with final solution. After doing test marketing we can commercialize. 8. Your best friend owns a small children's consignment store (clothing store where the store will sell your "used clothing" and will share the proceeds with you) located in the downtown area of a community of 50,000 citizens. Business has been slow the past year due the construction of several new strip malls and a new Wal Mart store (Increased competition). She recently discovered you were taking an online marketing class and has asked you for your advice for ideas that will increase her sales. Use the concepts you learned in chapters 1-9 and illustrate their application in your response to your friend. Selling used clothing will be tough in view of the fact that there is a stiff competition from Wal Mart Store and other new strip malls located nearby. One will have to use a unique idea such as social marketing and guide people to the children’s consignment store. The store can organize and event to attract crowd and do buzz marketing also.



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Name: Date: MARKETING -- TEST #1 Chapters 1-9 Total points – 100 Short Answer: Please indicate your answer to the following eight questions. 1. Discuss the micro-macro dilemma ...
Posted On: Nov. 1, 2017
Author: Shipra


Name: Date: MARKETING -- TEST #1 Chapters 1-9 Total points – 100 Short Answer: Please indicate your answer to the following eight questions. 1. Discuss the micro-macro dilemma and the importance of social responsibility as they relate to marketing Macro marketing is a social process that makes the products flow from the manufacturers to the end user. It has a tremendous effect on society which in turn, also affects the producers. The objective of macro marketing is to make sure that the mismatch between supply and demand for products and services are reduces to make sure that the societal objectives are met with. This objective is in a direct conflict of the primary objective of the companies which is to generate profits for its stakeholders. According to micro marketing viewpoint, organization’s goals are make profit. But as per macro marketing viewpoint, companies have to strike a balance between the two, viz. generate revenue and meet objective of helping society. When the two objectives i.e. macro and micro marketing objectives clash the companies end up in a dilemma. This is based on the assumption that what is good for the company and the consumers may not be good for society as a whole. For example, consumers want a product that is cheap and affordable. The company makes an effort to make them reasonable for customers to buy and in the process uses material that is harmful to the environment. So the company is failing in its obligations to society to maintain environmental balance. 2. Discuss the four basic types of marketing opportunities (chapter two) a firm might pursue and illustrate your response with an example of your choosing. a firm has several opportunities to pursue its mission. for example in the case of women clothes, it can make clothes that are trendy and target fashion conscious women it can also use a strategy of making the clothes available to a wider population of women thereby increasing its market share. or it can use the strategy of being exclusive thus focussing on a very small niche market and also charge a high price, thus increasing its revenue. Brand conscious people would patronize them 3. List and discuss the four components of the marketing mix as they would relate to a specific target market of your choosing Taking example of specific target market viz. women we can determine the four components of the marketing mix. Basically the four components are price, place, product and promotion. We have already chosen product as clothes. These clothes can be trendy or casual. Assuming we chose trendy clothes say, tops, we have several varieties to choose from. To be more specific, we shall target young women of age between 16 to 24. The price for the product shall be in accordance with the status of our target market that is wealthy. We can use skimming pricing as our product is unique and can be sold easily. The items shall be sold in boutiques and special stores. For promotion, we can use celebrity to endorse our product that would create a good impression on the minds of young women. 4. Discuss three dimensions for segmenting markets and illustrate your response with an example. The three dimensions of segmenting market involve STP viz segmenting, targeting and positioning. Segmentation has to be done first that would focus on the chosen market. The segment has to be in line with the company’s vision. Once segmentation is done it has to be analyzed to find out if it is large enough to be profitable. We target this market with strategy that is suitable for them. We position the product in such a way that it meets the requirement of the target market. 5. Describe the scientific method as it relates to marketing research Marketing research involves studying the target market and finding out solutions to the problems related to marketing. A scientific method would help us in collecting data that is useful and easy to analyze. For this we have to prepare a good research design, select a sample that is reasonably representative of the target market and prepare an exhaustive questionnaire to get answers from the sample. We have to make sure that there is no bias in collecting the information. Results once obtained, should be analyzed using analytical tools so that the presentation of solution can be made without any ambiguity. 6. Briefly discuss the four types of product classes and their importance to an understanding of marketing. Product classes can be categorized on the basis of types of customer.so one can have consumer products of business products. The former type of products is purchased for consumption by self or family and friends. Examples include convenience products ( customer is not interested in spending time and effort in purchasing them), specially products ( for which customer spends more time in looking for what suits him and is willing to pay a higher price). Business products are used for making products or for using in the final products. Demand for business products is derived from consumer products. 7. Describe how you might use the new product development process if you were thinking about offering some kind of summer service to residents in a beach resort town Planning for new product development process starts with idea generation. If we have to offer summer service to resident in a beach resort town, we have to find out what kind of service they are looking for. This can be found out by conducting marketing research where we will be able to get ideas from customers themselves. This could generate an idea such as providing a place where people can relax and have a drink. This idea can be tested in house or with a sample of target market. Once the results are obtained, we can modify and then come up with final solution. After doing test marketing we can commercialize. 8. Your best friend owns a small children's consignment store (clothing store where the store will sell your "used clothing" and will share the proceeds with you) located in the downtown area of a community of 50,000 citizens. Business has been slow the past year due the construction of several new strip malls and a new Wal Mart store (Increased competition). She recently discovered you were taking an online marketing class and has asked you for your advice for ideas that will increase her sales. Use the concepts you learned in chapters 1-9 and illustrate their application in your response to your friend. Selling used clothing will be tough in view of the fact that there is a stiff competition from Wal Mart Store and other new strip malls located nearby. One will have to use a unique idea such as social marketing and guide people to the children’s consignment store. The store can organize and event to attract crowd and do buzz marketing also.



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EVALUATION OF PUBLIC RELATIONS PRACTICES Introduction Public relations are normally linked with the activity of communication and are so
Posted On: Oct. 31, 2017
Author: Shipra


marketing EVALUATION OF PUBLIC RELATIONS PRACTICES Introduction Public relations are normally linked with the activity of communication and are so designed that message is conveyed to the target market in an effective way. The objective is to maintain an organization’s positive image and also relationships with its publics. The precise boundaries between public relations, advertising, and marketing communication activities have become blurred. The reason for the same is due to the fact that role of organizational public relations has expanded tremendously and also due to ever changing business environment. Another reason is decline in customer trust and support by top management of the organization. The recession and economic slowdown is also a major factor in convergence of communication involving public relations. However it makes sense to continue efforts to maintain good relations because it would be useful in the long run. Building public relations is a continuous process and requires patience and innovative skills. There are several ways of building and adapting public relations practices. It is very well established that building and maintaining a genuine relationship with the media is necessary for all PR professionals One of the ways of dealing with media is to make them aware of the fact that as a representative of the company, your job is to help them carry out their tasks easily. While pitching an idea to the medial, it is essential to be concise and come to the relevant point as quickly as possible (FitzGerald 2000). It is important to make sure that right person is contacted and the news that is being requested to be published is also exciting and worth publishing. Further good client service will always do well in the field of public relations. It is important to be straightforward and honest in dealing with media. For example, if a promise is made to send a story, it should be kept at all costs. It is important to go the extra mile for clients and matters quite a lot in building public relations. It is very important to know the benefit of different PR tools and use them judiciously. One should not jump at holding press conference at the slightest pretext, unless there is something really big to announce. It is better to wait for media to ask for holding a press conference. One should also not force a press release unless it is really critical for the company. Being a good PR professional means one should strive to stay at the top of the news. Additionally, it is good to know the best practices prevalent, including current trends, and techniques in vogue in the industry. One should continuously monitor best practices, trends and technologies. Web sites and social media (i.e. MySpace, YouTube, blogging, etc.) have become very popular and have also form a very important tool for communication. The importance of good writing skills cannot be undermined. It is most essential part of the PR profession. It is helpful if the PR professionals have a strong background in journalism or media. Peers suggest that PR professionals should first start their career in journalism and gained experience therein. This would help in being more receptive to PR agencies. There are several reasons as to why it has become important to measure relationships in public relations. Several public relation professionals are of the view that the primary aim of public relationship is to build and then enhance the long- term relationship with and organizations’ important constituencies (Watson et al 2007). Several tools and techniques for measuring and evaluation of short term results of specific public relations programs, events and campaigns and their outcomes are available. However, there is a dearth of methods for measuring the success (or failure) of long term public relations and it is almost non- existent. The outcomes are normally the immediate results of a particular PR campaign and represent what is visible at that particular moment, which may be misleading. The invariable measure how well an organization presents itself to publics, or the extent and the amount of attention or exposure that the organization receives. Organizations normally focus on measuring if the target audience has actually received the message directed at them, or whether they have paid attention and understood to the built in message being conveyed to them and if the message has been retained in their memory or not. The other factor that they try to assess if whether the material used for communication and the messages have been disseminated properly and intended opinion have been formed or not. It also measures the attitude or change in behavior on the part of those targeted publics. While it is important for an organization to measure PR outputs and outcomes, it is equally or even more important for an organization to measure relationships. The main reason for this is that most of the organizations measure outputs and outcomes that provide only information about the effectiveness of a specific PR program or campaign that has been conducted. The PR professionals need to identify and also present to the top management the overall benefits and value of public relation to the organization as a whole. For this purpose, one needs to use different tools and techniques. It has been observed that the outcomes of an organization’s longer term relationships with publics can best be measured by focusing on certain very specific elements or components of the relationships that exist. Control Mutuality is one such parameter which is an indicator of a natural, steady relationship that an organization and publics each have over the other. The other factor is Trust that one party has over the other and its willingness to be open with the other party. Trust has several dimensions viz. integrity: the belief that an organization is fair and just …dependability: the belief that an organization will do what it says it will do …and, competence: the belief that an organization has the ability to do what it says it will do. Satisfaction is another equally important parameter and is an indicator of the extent to which each party feels favorably toward the other. This is because then positive expectations about the relationships are reinforced and built. A relationship can be called satisfying in which benefits have more weight than the costs involved. Commitment to the agreed terms leads to building long term relationship. The idea relationship is that of Communal Relationship in which both the parties provide benefits to one another as they are equally concerned about their welfare, without any expectation. . For most public relations activities, developing communal relationships with key partners is much more important to achieve than developing any other form of relationships. One of the popular methods of measuring the outcomes of an organization’s relationship with its key partners is to focus on specific elements (as listed above) and measure the same on a Likert’s scale. This would indicate the extent to which the public agree or disagree on the elements and describe the relevance of relationship with that particular organization. Brand name of a company has several variants. Brand is defined as a name, term, design, symbol, or any other feature that identifies one supplier‘s good or service as distinct from those of other supplier. A brand is much more than just program, displays and includes all those things that build an organization’s reputation, culture and core values (Betteke et al 2008). It is not confided to just advertising or marketing activity only. Branding is in existence from time immemorial and is known to convey messages that help the business reach their pre- determined goals. It includes promotion of all the salient points of an organization. Primarily brand intends to create a level of quality and satisfaction and helps in making the promotion successful. It is also possible to use the brand as an organization‘s spokesperson as part of that organization‘s search for authenticity. The brand has direct relation to the attitude and perceptions of a consumer toward its product and service. This is more applicable to public relations toward the organizations products. It is equally applicable for – profit and not-for – profit organizations. History is witness to brands increasing the value of products in several areas including sports, politics, culture and segments which were hitherto untouched and unheard of. Branding and marketing are not synonymous terms. Marketing is termed as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. The role and concepts of marketing have remained unchanged even in the current business environment. However, the manner in which businesses communicate with their customers has completely changed. This perception is based on the fact that marketing communication the current business environment is now a two-way process. For example social media greatly encourages and facilitates this manner of communication. The rapid expansion of the Internet and associated social media platforms are a witness to this changed phenomenon. These social media and web sites offer greater opportunities and avenues to publics and also needs to be monitored carefully. It is important to know what people are saying online about their brand. There is an increasing expectation from a large part of consumer about the brand being propagated by organizations. They are no longer termed as just attributes only The role of organizational public relations is expanding with the changing times and it is not just focused on the product but also helps in developing strategies. Brands are now being measured and assessed in real time itself and one cannot get away from this fact or happening. It is for this reasons that businesses are joining the conversation in social media, which turns out to be a mission perfectly suitable for the activities of PR professional. It is with this line of logic and reasoning that experts suggest that role of public relations in managing brands is two faced, one, as an architect of narrative, or the conversation and second, as the supplier of the medium to smoothly facilitate the conversation, which basically includes the social media. The current business environment is filled with pessimism and loss of trust and confidence of consumers. A lot of people are of the opinion that advertisers pay to have products placed or featured in magazine articles. This attitude is different from what was believed earlier when media placement was viewed by consumers as more credible and lacking deception. One of the reasons for this downfall is the focus on transparency. Reputations of businesses have become more fragile than ever. The importance of word-of-mouth in the brand conversation has given an impetus to the social media. It is quite common to discuss consumer-related and product-related issues freely among consumer communities of interest in the independent blogs. So, the concept and practice of business authenticity has become even more important to the success of the business. In fact the authenticity to elevate a brand should come from public relations. There is a direct relation between authenticity and storytelling. Storytelling has a role in almost every aspect of the organization and it is proved that it is also important in the narrative in branding. The fact is that public relations profession has a legacy in storytelling. The stories provide a medium of communication to customers and it has resulted in a growing organizational use of stories as a public relations and marketing tool. Further the narrative is increasingly recognized as essential in branding. The objective of branding is to communicate who the organization is and requires a story that is usually told by the product or service itself, or by the customer word-of-mouth or by a credible third party (Moss et al 1997). This has resulted into brand story telling. It has resulted in blending the branding value of advertising, the credibility of public relations and the measurability and return on investment. The narrative has become a powerful communication method that has always been a public relations competency and public relations. It is also vital in the art of storytelling. The general belief is that public relations role in branding is more commercialism than journalism. However in practice it is not so as it involves organizational storytelling, which itself is a form of journalism. Storytelling fits the traditional public relations role of creating connections with its publics through relationship and trust building. Social media provides the communication medium for connections with public o occur. Several extraordinary advances in technology of communication are transforming the nature, reach, speed and loci of human influence (Wilcox 2003). Therefore having a meaningful dialogue with customers is crucial to the success of the business. The public relations profession traditionally used a sender-oriented approach to communications by addressing publics through the traditional mass media outlets of television, radio, newspapers, and magazines. In the digital age, however, unrelated individuals are linked by communication technologies, such as social media, in a social network where mediated interaction leads to mutual sense making The growth and popularity of social media has also changed the game for advertisers and marketers. Because social media is receiver-oriented and involves having two-way conversations, it is diametrically opposite of the traditional one-way, sender-oriented concept of advertising and marketing communications. This source- or sender-oriented communication focuses attention on the sender‘s own communications needs and intentions as opposed to recognizing the needs of the sender‘s publics. Specifically, sender-oriented communication theory assumes that message design is the key to communications success and that the communication of the message occurs because the sender intends it as such. In the traditional one-way, sender-oriented marketing and advertising communication protocol, communication occurs because the sender intends it to occur, that message design is the key to successful communication of the message, and that communication has not occurred if the receiver does not understand the meaning of the message. There is increasing social consciousness among consumers who now place more emphasis on what an organization is about rather than simply what that organization produces in the form of services or products. Moreover, widespread consumer cynicism and loss of consumer trust and confidence driven by events of the past decade have forced businesses to reexamine their marketing and advertising communication strategies. One outcome has been the integration of the public relations department into organizational branding initiatives. Given its relationship and trust building acumen, storytelling heritage and social media proficiency, public relations is positioned to significantly contribute to brand management. Accordingly, public relations play a key role in establishing the trust and authenticity necessary for a successful branding messaging. To illustrate the above, P & G is now looking to become better in tune and is engaging in having a dialogue on social media. The journey has just begun and it is a matter of time to really start exploring with consumers. Being one of the largest companies, P &G has the capabilities in place and is also quite open to taking risks .Since it had been involved in traditional methods of public relations activity, it has become crucial for P &G to make the platform of social media as the integral part of brand – building activities. P&G is continuously rolling out campaigns and targeting the main issues that are important to its loyal customers. The anti- bullying campaign launched was focused on teens and young girls and was a great success. This resulted into fantastic increase in share of the products in the market. About two years back Proctor & Gamble was plunged into crisis management as a result of negative backlash from the launch of a new diaper that gathered enough attention to spill over from social media to the mainstream. After the crisis broke, experts suggested that P&G should apologize to consumers. However the company did not do any of this. It had a responsibility to maintain that the product was safe. Initially the company’s first tactic was insisting that there were no examples to support allegations. This was treated as a guilty response and the company had to shift its PR course of action. Its representatives communicated with parents on a personal level, as parents themselves. They noted that, as moms and dads, they’d be the first people to pull a product from the shelf if they believed there was any danger to their children. This strategy worked wonders in pacifying the customers. Conclusion It is important to have a human angle while communicating with publics. The brand must engage in a two-way dialogue and seek to put a human face on the people behind its product. The underlying message is to communicate; this communication is not restricted to own staff but stretches to supporters, fans, critics, and also with the consumers as well. By reaching out to concerned parties, and involving them, it becomes easy to solve the problem and arrive at a workable solution. It removes the attention of the media and also gives a boost to the reputation of the company. It demonstrates the willingness of the company to cooperate and learn from crisis. Such an action is greatly appreciated by public at large. References FitzGerald M. (2000) Marketing Communications Classics: An International Collection of Classics and Contemporary Papers Cengage Learning Watson T., Paul Noble (2007) Evaluating Public Relations: A Best Practice Guide to Public Relations Planning, Research & Evaluation Kogan Page Publishers Betteke van Ruler, Ana Tkalac Vercic, Dejan Vercic (2008) Public Relations Metrics: Research and Evaluation Routledge Moss D., Toby MacManus (1997) Public relations research: an international perspective International Thomson Business Press Wilcox Dennis L. (2003) Public relations: strategies and tactics Allyn and Bacon http://www.pg.com/en_US/index.shtml accessed on April 8th 2013



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