Marketing Strategy - Case Study of Google As many of you might already know that Google started with a set of few intelligent rules. Growing from there, it has developed into a new business, which has made it the world's largest search engine. They have also developed applications such as Google Earth, Gmail, Google Video, and Google Map, which have also won different awards. Google Inc. is a company that has started from scratch, and now has won over the previous leading search engines like Yahoo, Lycos, AltaVista, and Excite. Not to forget they have also won against a giant company Microsoft. Case Study : Business and Marketing Strategy of Nike Nike is a sports brand that has builds its reputation over the years. May it be a school-going child who plays a sport or a professional athlete; everyone would want to wear it. If you conduct a survey that how many of the people own something from the nearest Nike store then the majority of them will respond positively that they have something from the brand. If from the people who have ever used Nike you inquire that how the product was they would always give you a positive response about it. Marketing and Business Strategy of Amazon All of us know that Amazon is an online shopping forum and they bring the sellers and buyers together through this forum. The main aim that was behind this online portal of shopping was to make shopping easy, through this the customers can help the consumers choose and go for the product that they see online. Sample of Business and Marketing Strategy - Toyota Case Toyota Motor Corporation, which is abbreviated as TMC, is a Japan based company that deals in automobiles and has its headquarters in Aichi, Japan. In 2010, Toyota was declared as the largest manufacturer of automobiles in the world in terms of production. It is a tremendously successful company. Key Elements of Marketing Management Market analysis, market planning, plan implementation and the market control complete the process of marketing management in a circle and allows the manager to evaluate and analyze every stage of the campaign by completing surveys and viewing the feedback of the customers which allows him to make amendments to the previous marketing techniques employed. These techniques must always be refreshed in order to give a new look to the brand especially when it has become old and tested. Some brands do not need much of a new look because of their popularity but if they are brought out in a new face then people will naturally feel more attracted towards it. Case Study : Business and Marketing Strategy of IBM International Business Machines Corporation, abbreviated as, IBM is an America based technology company, which has its headquarters in Armonk, New York. IBM deals in computer related machinery or technology which includes both software and hardware. IBM offers consulting too. With all the success this company has bagged, one would wonder what marketing strategies this company uses. While the entire marketing strategy is a vast affair and cannot be covered in a mere article, this piece would struggle to highlight the core of it all. Case Study : Business and Marketing Strategy of Microsoft Bill Gates and Paul Allen grew up together, as childhood friends; both shared the same passion for computer programing. They wanted to be successful, and create a completely new world with their skills. As many of you already know, Microsoft Corporation is a multinational company, with its headquarters in Redmond, Washington, United States of America. They develop and manufacture an extensive range of products. Marketing Mix and Strategy A marketing strategy outlines the manner in which the marketing mix is used to attract and satisfy the target market(s) and accomplish an organization's objectives.Specifically, marketing strategy is developed by considering the following factors. Marketing Strategy - Case Study The concept of marketing as building an organization in order to satisfy the customers’ needs and gaining profit from it has enabled big names to rise to the peal and achieve unimaginable growth in the competitive market. For this, a firm needs a marketing strategy that is well developed. How to Develop Smart Pricing Strategies? The success or the failure of a specific business venture largely depends on numerous factors. One of these factors is the proper implementation of pricing strategy. This is about the good old curves of demand and supply. If the price will be too high, consumers tend to look for an alternative service or product. What are the Contents of A Good Marketing Plan? The business document that is written to define the terms of engagement with the potential customers and describe the current market position of a business and the strategies related to marketing for a specific period is known as marketing plan. It is widely used to determine that who will be affected by the changes brought in the shape of new marketing strategies and what concerns are most likely to arise from each group. However, it is always best advised to emphasize on the positive outcomes that your organization would get because of the proposed changes. Steps in Developing the Promotion Mix Because there are four distinct promotion mix components (advertising, personal selling, promotion, and publicity or public relations), each with its own unique strengths and weaknesses, developing an effective promotion mix is difficult. To facilitate this task, most companies follow a five-step decision process, which is discussed below. Types of Marketing Research Applications Marketing research is the gathering, recording, and analyzing of data that relates to a specific problem in marketing products or services. While this definition implies a systematic approach to marketing, marketing research is often performed as a reaction to a problem that occurs. Marketing research efforts, therefore, often are undertaken for specific projects that have set beginning and ending points. Creating Great Marketing Plan A marketing plan, like a business plan, is unique to the company it serves. There are few hard and fast rules that guide its creation and implementation. A marketing plan needs to be as flexible as its market allows and as firm as is required to accomplish its goals. Despite all that, there are a few key components critical to the successful development and application of such a plan. Principles of Managing New Product Development A key task of managing new product development is linking it to an organization's strategy. This linkage occurs through the typical situation analysis that provide the basis for developing strategic options (for example, assessing strengths, weaknesses, opportunities, and problems). Such analysis begin with recognizing major global forces with pervasive trends (such as economic systems, demographics, or technology) that lead to complexity and rapid change, a major source of uncertainty. Nine Winning Marketing Practices Besides winning business practices, is there a set of winning marketing practices? One frequently hears of one-liner formulas that promise marketing success. Here are nine of the more prominent one-liners. First, Win Through Higher Quality. Everyone agrees that poor quality is bad for business. Customers who have been burned with bad quality won't return and will bad-mouth the company. But what about winning through good quality? Product Development Stages The new-product planning process involves a series of steps from idea generation to commercialization. Idea generation is a continuous, systematic search for new product opportunities.It involves delineating sources of new ideas and methods for generating them. Types of Market Research Data Another type of primary data of interest to marketers is the subject's psychological and life-style characteristics in the form of personality traits, activities, interests, and values. Personality refers to the normal patterns of behavior exhibited by an individual. It represents the attributes, traits, and mannerisms that distinguish one individual from another. Key Factors in Developing New Products An empirical research by Robert Cooper found three key factors that distinguish winning projects from the losers. Factor 1: A High-Quality New Product Process. Does your business have a superb new product process or roadmap to guide and speed new products from idea through to launch? The top performers do. Merely having a process does not make the difference, however. It is the nature of that process, and whether it possesses key success ingredients, that makes all the difference. Three Levels of Marketing Performance The boldest level of marketing occurs when a company introduces a product or service that nobody asked for and often could not even conceive of. No one in the 1950s asked for a Sony Walkman, a Sony Betamax, or a Sony 31/2-inch disc. Yet Sony, under its brilliant founder and chairman, Akio Morita, introduced those and many other new products that since have become everyday staples. Marketing Communications Plan for New Product The starting point for the advertising plan is the setting of objectives. The statement of objectives would follow the same format as the overall marketing objective. It would include what to communicate to whom and with what results. Should the advertising generate sales, produce leads, or enhance an image? To whom must the message be communicated to make that happen? What will be the result of this communication? $X revenue? Experiential Marketing The concept of experiential marketing comprises of five core elements : sense, feel, think, act, and relate. SENSE marketing appeals to the senses with the objective of creating sensory experiences through sight, sound, touch, taste, and smell. SENSE marketing may be used to differentiate companies and products, to motivate customers, and to add value to products. Creating An Effective Advertising for Service Products Experts agree that while some aspects of advertising are the same for goods and services, the special characteristics of services require additional strategies to make advertising of services most effective. These include the following: 1) Present vivid information. Advertisers should use information that creates a strong or clear impression on the senses and produces a distinct mental picture. Using vivid information cues is particularly desirable when services are highly intangible and complex. Developing Product for Service Sectors What are the keys to developing successful new services? The following descriptions identify the critical success factors in day-to-day new service development. These are the activities that occur within projects that differentiate winning new services from losing ones. Exploratory Marketing Research Exploratory research can be effectively used to develop insights and understanding about a marketing problem or issue. While exploratory research is applicable in numerous situations, it is extremely useful for understanding a problem, screening alternative solutions, and discovering new ideas. We will discuss these three applications in this section. Pricing Strategy A marketer should understand the relationship between price and consumer purchases and perceptions. This relationship is explained by two economic principles : the law of demand and price elasticity of demand and market segmentation. Category System of Consumer Goods There are three-category system of consumer goods : convenience, shopping, and specialty goods.Convenience goods are those purchased with a minimum of effort, because the buyer has knowledge of product characteristics prior to shopping. Advertising Variables There are some variables or factors that need to be considered when creating an advertising. These factors are waste, reach, frequency, message permanence, persuasive impact and clutter. Waste is the portion of an audience that is not in a firm's target market. Because media appeal to mass audiences, waste is a significant factor in advertising. Adoption Process of New Products The growth rate and total sales level of new products rely heavily on two related consumer behavior concepts: the adoption process and the diffusion process. The adoption process is the mental and behavioral procedure an individual consumer goes through when learning about and purchasing a new product.