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Marketing and the Competitive Environment do my history assignment: do my history assignment
Marketing and the Competitive Environment
Marketing objectives and approaches
Marketing focuses on the identification of the needs of the customers and working towards meeting these needs. Marketing activities involves primarily looking out for the customers needs and ensure that they convince the customers the business offers what will meet their particular needs and wants. The main objective of marketing is to ensure that the company promoters the idea that it offers the right product at an appropriate price, where they are needed and with the use of appropriate promotions. Marketing ensures that the benefits of the product are made known and not just the particular feature of what is being sold. For instance, a company can use an advertisement in the media to showcase the prices of the items they are offering. Another aim of marketing is to ensure that there is a barrier of entry by competitors.
Marketing objectives are for the company to be a leader in the market and to be recognized as the trusted and most recognized brand in a particular industry (Samuels, 2010).There are various marketing approaches these can be consumer marketing which is aimed for the general public who will be the final users of the product being marketed. This approach ensures that the products meet the needs of a buyer on a personal level. The other marketing approach is business to business marketing. This marketing is aimed for businesses that buy products to re-sell them. This approach contains a small number of customers. This makes it easy for direct communication with the customers so as to establish market trends .this can be achieved through offering free samples to the customers alongside what they buy so as to make them aware of what their products. If an organization has its marketing objectives in place it will determine the most appropriate marketing tools to realize these objectives.
Portfolio analysis and globalization in marketing
Portfolio analysis involves a comparison between the portfolios goods and services a company intends to produce so as to determine the most investment that is promising and well deserving. It also aims to make a decision on the particular investment that will be discontinued. There are companies that have strategic business units in place .The portfolio analysis are conducted with models that give a two dimensional matrix of the market of the product and SBUs. One dimension represents how attractive the market is and the other one determines the product or service strength when it comes to its competitive position. Product portfolio analysis ensures that marketing managers make decisions on what particular products they should channel the organization’s resources, which of the products are to be eliminated .It also offers knowledge on existing opportunities of adding new products so as to achieve a balance of the products. For example, Portfolio analysis can be done when a company has wide range of products in its production line and it is difficult to make a decision on the product they should concentrate on.
Marketing today is quite different from what was there before due to the changes of economy in the world as well as developing of a very fast knowledge distribution network. Marketing has become more challenging now due to globalization, these challenges can either break or make a business and therefore new strategies should be implemented that will help in coping with the global market that is undergoing evolution.
Portfolio analysis and globalization affect marketing promotions through their influence on particular changes that can be made in marketing promotions. These are the types of changes that will ensure the marketing objectives of the organization are met. Globalization creates a need for business to align their marketing practices according to other countries. A company might require adoption of some marketing strategies that are used by other countries so that it can remain relevant in the global market.
Public relations in marketing techniques used top foster public relations
Public relation refers to efforts that are planned and sustained that lead to maintenance of a mutual understanding and good will between the organization and the public. There can be a wide variety of public that an organization has to build good will and maintain good relations. This public includes customers, employees and other stakeholders who are vital assets to any organization. The role of public relation in marketing is identification of the relevant public for the organization. It is also important as it helps to reinforce the opinions from the public which is relevant and useful for the company. Public relations should be an integral part of the marketing process (Schorah, 2002).
There are various techniques and strategies that public relation can be applied for an effective marketing process. These strategies are such as consumer communication which involves procedures such as customer press release that will ensure constant communication between the organization and customers. There can also be promotional videos used to foster a strong relationship between the consumers and organization. The organization can organize events to launch their products. Through these events the consumers and the entire organization can interact and any issues raised by the consumers during the events can be dealt with accordingly (Schorah, 2002). The organization can also create websites where the consumers can freely interact with the staff in the organization and get all necessary information they need or even assistance with any issue they raise. The public relations on business levels can be fostered through websites where the companies can interact with other businesses. They can also use direct mails to businesses where they ask questions on the company’s performance and get feedback on what the changes thy need to make. They can also give businesses their product as well as company videos that will be used by the businesses to acquire knowledge on the company.
Relevance of product placement in marketing
Product placement is advertisement that involves goods or service that have been branded being placed in a context that is devoid of advertisement. An example of product placement is running of an advertisement within a movie, TV show or even on popular social sites. These advertisements are not part of the video or show but are just incorporated to pass a promotional message. These product placements are very important in the marketing, particularly those related to e-commerce. This is because the placements capture people who did not expect to get the particular advertisement probably when they are internet. Therefore product placement reaches very many people at a particular time (Miranda, 2012).
Control strategies associated with product placement
There are control strategies that can be associated with product placement. This is because some of the placements can be termed as being destructive or lead to making decisions without thinking. These strategies can be such as restricting the number of placements that can be used in a particular context so that they are not too much to overwhelm a person. Another strategy is allowing only specific product placement in a context which are not too flashy and hence do not cause destructions. For instance a company can be allowed to use only dull colors in their placements and short messages that will not otherwise cause destructions. Companies should be aware of the control strategies in place so that they can avoid their placements from being denied.
Role of research and development in competitive strategy development
Research and development is aimed at discovering new manufacturing processes or products which is done in order to adopt the crucial developments that are needed to satisfy the needs of the market. A company might come up with a completely innovative product that no other company has produced before through research and development. Through this a company will develop a competitive advantage. This is through various ways such as providing selling points that are unique and hence marketing a product in a competitive environment. If from the research the resulting product needs patenting then a company will be a monopoly and therefore there will be no competition on the product.
Critical path analysis objectives and provide examples
Critical path analysis objective is carrying out analysis on the appropriate resource use to be applied in a specific period of time. This is an appropriate technique that is used by many industries. Critical path analysis is an effective way of the encouragement of forward planning. This leads to control of costs as well as efficiency in operations. An example of critical path analysis involves carrying out a particular activity the precedence and time required to complete the activities.
Relevance of market conditions to competitive strategy development
There are various market conditions that can exist within a market. These market conditions are perfect competition, monopolistic competition, oligopoly and monopoly. These conditions are relevant when it comes to competitive strategy development. For instance in perfect competition and monopolistic competition it is easy for other organizations to enter the market. This means that the organizations that exist in these market conditions should have come up with a competitive strategy development that will ensure they are not through out of the market. In monopoly and oligopolies entry of other businesses is very hard and therefore organizations in this market conditions should not be worried when it comes to development of a competitive strategy since the likelihood of facing any competition is very low. Therefore the knowledge of a particular market condition that a company exists in can be useful in the development of its competitive strategy.
Management study guide. (2012).Tools of Promotion – Advertising, Sales Promotion, Public
Relation & Direct Marketing. Retrieved April 23, 2013 from http://www.managementstudyguide.com/tools-of-promotion.htm
Miranda, K. (2012). Product Placement Strategies. Retrieved April 23, 2013 from http://smallbusiness.chron.com/product-placement-strategies-1684.html
Samuels, D. (2010) Marketing Aims and objectives. Retrieved April 23, 2013 from http://smallbusiness.chron.com/marketing-aims-objectives-60412.html
Schorah, K. (2002). The Role of Public Relations in the Marketing Mix. Retrieved April 23,2013 from http://www.bizcommunity.com/Article/196/18/575.html
Online Marketing Advantages Case Study african history assignment help
I believe that online marketing is an effective tool in 2014. There are several reasons for this. The first is that as a marketer you have to go where the eyeballs are. Exposure is important, and people today spent hours every day on their computers, tablets and smartphones. There are ample advertising and promotion opportunities with these media, so there no excuse for having a presence online. The reach is incredible, too much to pass up.
The second reason is that online marketing is data-driven. This means that it is easier to hit target markets than older forms of media. Even niche products can gain exposure to their target market. Remember that all advertising has a target market, but you pay for a certain level of exposure. This means that there is always some spillover, where your advertising is reaching an audience that is not part of the target audience. With online marketing, you get close to your target, which means that your marketing dollars are more efficient. Online marketing does this through the use of massive data sets, even greater than what you see with other media forms. This efficiency is important for marketers working on a budget.
Another benefit of online marketing is that social media market is a different form of marketing from the typical model where advertising is a one-way communication from company to market. Social media represents a two-way dialogue with customers. This allows for different types of marketing to take place, which can be powerful. In additional social media is a form of marketing where the company controls the costs, and the costs are generally low. Even with online advertising, the company is basically a price taker with limited bargaining power, but social media is generated by the company and consumers volunteer to receive communications from the company.
There are a number of online channels available for marketing, but whether any deliver competitive advantage is a matter of what industry the company is in. Competitive advantage only exists when a company does something, or does it better, than the competition. Online marketing is not exactly a new story, so most firms already engage in it. However, not all firms engage in it equally well. In a vacuum, not knowing what the industry or the competition is, a company simply needs to focus on being as good at online marketing as possible. Advertising is not that place. The reason is simple — the gatekeeper for online marketing is Google, and Google has the bargaining power because they have the data and the technology to reach the market. That means that your competitor is also dealing with Google. They have access to the same data, and Google tends to charge just a shade below marginal benefit. What you pay Google is going to be profitable for you, but only a little bit, because you’re a price-taker. So while you have to be in the game, this is not where you find competitive advantage.
Social media is the main area where competitive advantage can be derived. The reason is simple — the company controls the social media. Companies can deal with social media any way they want, and there will be considerable differentiation in how that happens. Therefore, a company that excels at social media will be able to gain competitive advantage over any competitor that does not excel at social media. By creating lively and active social media channels, and generating active and positive engagement with the customer base, a company can create significant exposure and goodwill. Further, when social media channels are successful, a company will have a lot of information about its customers, and it can use that information when buying ads elsewhere, in product development or to enhance its customer service. There is a lot of power in social media marketing in particular.
Issues with comparative advantage and Say’s law do my history homework: do my history homework
Say’s law is that “production is the source of demand” (Investopedia, 2015). The idea is that when an individual produces a work, they receive payment for it, and then use that payment to purchase other goods and services. Say’s law conveniently ignores savings, but even more importantly assumes that all goods have equal demand, and that demand will arise from nowhere for any good on the basis that it has been produced.
Say’s law would fail to hold on these accounts. While there is some argument that Say’s law may hold in the long run, in the short run there are all kinds of issues with its logic (EconLib, 2015). In a monetary economy, savings is certainly going to be one of those problems. Savings represent a drain on the economy, in that money is not being put into productive use. In the modern era, savings might be put into investments, the capital markets, and that would not represent a diminishment of Say’s law. However, any money that is basically taken off the table is money that has been earned but is not being spent. If someone puts their paycheck under the mattress, proverbial or otherwise, that is a drain on capital that Say’s law does not reflect. Banks have done this, too. For example, in 2009 and 2010, even when the Federal Reserve was pumping money into the economy like a sailor on shore leave, banks were not lending at pre-recession rates. They simply held back more money, which took that money out of the economy. Say’s law does not adequately account for savings.
In addition, Say’s law assumed the production equals sales. This has long been a bone of contention with the theory — one cannot simply produce any old thing. People need to produce things for which they can earn. Arguably, in the long run everybody will need to do this in order to finance their ongoing existence, such that while people can indulge themselves in the short run on unproductive ventures, in the long run they must gravitate towards that which will pay — allowing Say’s law to hold in the long run. But there is still a drag any time someone produces something for which they do not earn — such production does not inherently create demand.
2. Comparative advantage definitely has some limitations. The theory is used as an argument in favor of free trade, because it illustrates economies without barriers. In the real world, there are always barriers, transaction costs, transportation costs and other factors that can erode the value gained from trade between two nations. The profit from trade under comparative advantage might be marginal, and subject to costs that erode the profit.
Another issue with comparative advantage in the real world is that not all countries are created equal. Comparative advantage is supposed to hold, but absolute competitive advantage matters in the modern world. Transaction costs in the modern world are actually quite low — many nations no longer have tariffs on trade between them, and transportation costs are becoming very low. As a result, comparative advantage is less important. An example is that China has such strong competitive advantage and is so well-connected with the rest of the world that it dominates trade in many consumer goods, and seems to be increasing the goods in which it dominates. Nauru, or Chad, lie at the other end of the spectrum, offer little to the rest of the world. They have competitive advantage at nothing, which means that they are nobody’s first choice in trade. Say you want to sell Nauruan coconuts to Canada, which needs coconuts, in return for Canadian oil, as Nauru has no oil. Canada might simply decide that Nauruan coconuts are not plentiful enough, and are much more expensive than Cambodian coconuts. Nauru has nothing else to trade, so it becomes left out of the global economic system — Canadian oil might be expensive but there are no shortage of takers.
So comparative advantage looks great on paper, and has not fared too badly in the real world. But it is limited, in that is does not apply to all countries and regions equally. Furthermore, comparative advantage as a theory has certain assumptions, such as no transaction costs, that often do not hold in real life, and the theory is therefore constrained in practical application by the fact that some of the underlying assumptions do not hold.
EconLib (2015). Jean-Baptiste Say. Library of Economics and Liberty. Retrieved May 14, 2015 from http://www.econlib.org/library/Enc/bios/Say.html
Investopedia (2015). Say’s law of markets. Investopedia. Retrieved May 14, 2015 from http://www.investopedia.com/terms/s/says-law.asp
UEFA Regulations of Competitive Balance a level history essay help
UEFA Regulations of Competitive Balance
The UEFA Financial Fair Play proposal due to be implemented in 2012 will have far-reaching effects on European sports. The Proposal itself completely retools the financial restrictions and obligations of soccer teams across Europe in hopes of creating a more balanced and equally competitive league. The debt burdens borne by many of the league’s most successful teams will be eliminated, yet the argument for increased competitive balance will likely go unrealized and perhaps even greater imbalances between teams will be created. There have been many different opinions regarding this move by the UEFA, some coming from fans others coming from sports economists. Certainly there will be both negative and positive effects stemming from this policy action, but what kinds of bi-products it will likely produce is still open for discussion.
Essentially, the new UEFA Financial Fair Play rules would help to keep European soccer clubs out of debt, forcing them to stop spending more than they have to transfer players in hopes of reaching some of the more prestigious and often ultra-lucrative Champions League games. The competitive balance of the league’s teams, according to the President of the UEFA, will be improved, allowing for a much more exciting, fair playing field for teams large and small. Interestingly enough however, much of the European public and many of the players are against these coming regulations which promise to take the UEFA soccer league to the next level of play after the 2012 season, at least in terms of fiscal responsibility.
The New UEFA regulation would require teams to be deficit free by 2017 (Conte, 2010). To achieve this goal, several benchmarks have been set for teams to begin reducing their debts starting in 2012. The first of the two, three-year periods of debt reduction would actually come during the 2011 season and last until 2014. In this period, clubs will only be allowed to have a maximum deficit of 45 million Euros. This is achieved through a series of strict audits as teams will likely need to begin budgeting for this period as soon as practical. Teams will have a bit of leeway during each of the two periods, since they will be able to flex their deficits within each period. For example, if a team is 100 million Euros in debt during the first year and earns 65 million Euros during the second and third years of the first period, they will have effectively met the cut off of 45 million Euros by 2014. These periods are inclusive and allow for cumulative debt to be erased through cumulative gains.
The second of the three-year transitionary periods will occur from 2014 to 2017 (Conte, 2010). In this period, teams will be required to have a deficit of no greater than 30 million Euros. This period, like the first, will also allow for cumulative debt and revenue flexibility, which shows that while the UEFA is trying hard to eliminate teams’ debt by 2017, they are allowing for some leniency in the specific path toward fiscal responsibility that each team chooses to take. However, teams will need to be extremely careful about how they handle their finances during each of the two periods since mismanagement at the beginning of either period could spell disaster as teams try to play fiscal “catch-up” during the next two years within each debt reduction period.
For over a half century, sports commentators, enthusiasts, and even economists have argued that competitive disadvantages occur at every level of sports and that the many, often conflicting interests and incentives that each committed party within the league has for themselves tends to destroy any sort of comprehensive, cohesive, one-size-fits-all sort of competitive balance regulation. But certain regulations, according to authors Sanderson and Siegfried (2003), tend to take hat very same incentivized system and distort or dilute it. Players, like in any other labor market, are a commodity. Once the money supply is tightened and players are no longer being paid what they’re often worth, their incentive to continue playing within that league or on a specific team is diminished. Sanderson and Siegfried (2003) argue that this in turn negates the potential positive results associated with more stringent competitive advantage regulation. They feel that talent will not be valued at the same degree as it once was, since teams can no longer pay the same exorbitant amounts of money for the star players. This form of sports “socialism” hurts league revenues in the long run according to these same authors. Many of the UEFA teams’ debts are hidden away from the official balance sheets, which represents a real problem for this sort of regulation (Conte, 2010). The new UEFA regulations state that a team cannot spend more than they earn in that particular season, but when many of the teams’ financial resources are undisclosed or shrouded by book keeping tricks and personal bribes or donations, this sort of regulation is likely to have a very negative impact on league play. These authors also argue that reducing certain competitive imbalances hurts fan sentiment.
Fans in the U.S. are famous for wanting to support the “underdog” in a sports contest. This feeling of enthusiasm for the “little guy” is not unique to the U.S., and the Europeans will have to rid themselves of this sort of sentimental sport reaction after the 2017 season if each UEFA team is going to operate under the same rules (Sanderson, 2002). League talent will have no place to move upward, and as each team begins to rebalance its books financially, their rosters will begin to look more and more alike in terms of sheer talent for the money. Extremely talented and therefore valuable players may even opt to play in different leagues or even on different continents, where their skills can be properly compensated.
The draining of talent from the pool of UEFA players could also be a significant negative side effect of the new regulations that will come into effect in 2012. As players see that teams will likely be cutting back in order to get their books straight, few will be able to realize the same compensation as before, especially with teams that do not have the same resource pools to draw from financially (Conte, 2010). This brings up yet another enormous potential problem with the new UEFA regulations- the fact that the restrictions are based on revenue, and that a debt free team does not equal a competitively balanced team by any means. Certainly competitive balance will be affected by the new regulations, but possibly for worse.
The largest teams in the UEFA league often spend hundreds of millions of Euros for the best players and operate in the best facilities where fans pay hundreds or even thousands of Euros for tickets. In fact, during League of Champions play, some clubs see revenues soar well into the hundreds of millions of Euros. But even if each team achieves debt-free status by 2017, in no way is each team equal in their ability to generate revenue through their fan base. Just as Rottenberg (1956) argued, the teams that have the largest fan and media bases will likely do better than those hailing from smaller cities and towns. This applies to the UEFA without question. The most successful and popular teams in the league currently are generating revenues many times greater than the smallest and least successful (Ducrey et. al., 2003). Certainly some of this has to do with revenues as a product of debt leverage, but once the debts are erased, the larger more popular teams will still have the ability to generate huge revenues due to their consistent popularity. In turn, they will be able to attract the most talented players as long as they are able to properly balance their books. But not all competitive balances and imbalances are created by revenues and money (Sanderson, 2002). Much of the imbalance comes from access to resources and revenues as well as the facilities that already exist in many of the most popular teams’ hometown. Some of these imbalances will likely hurt teams outside of the UEFA as well.
The report entitled “UEFA and Football: A New Governance” (2003) points out yet another interesting potential bi-product of the new UEFA regulations that will come into effect in 2012. The report recognized that allowing teams to share revenues and spend their own proportion of the revenue pool on talent may hurt other soccer leagues, not just the UEFA. Other European and international leagues could be devastated by teams such as Manchester United, on of the UEFA’s most popular and most successful, as they build teams to compete in both the UEFA and the League of Champions. Authors of the report use the example of automobile racing, where star driver Michael Schumacher is allowed to race in multiple different leagues at once, both the F1 and the F3 leagues (Ducrey, et. al., 2003). This actually creates a further imbalance of talent and potential revenue growth and sharing both within the league and outside of it, further threatening other leagues in different continents. The impact of the UEFA implementation of the Fair Play Financial Regulations could have a ripple effect that hurts soccer teams around the globe.
The Zimbalist article entitled, “Sport as Business” (2003) also brings up a good point about the socialization of sports leagues. Before the UEFA regulations take effect, the league operates in a relatively capitalist manner. Certainly many of the monetary imbalances that exist are not readily apparent when officials audit the books of the different teams, but as a business model, the new UEFA regulations may very well hurt the revenues of the entire league, not just certain teams specifically (Zimbalist, 2003). This would occur as club owners looking to turn a profit would be severely limited by financial restrictions put in place that force owners to stay debt-free. Owners will have less opportunity to attract talented players, especially owners of teams whose revenue is rather small. And as the gap between the richest and poorest teams widen, this problem will become exacerbated with time. But at the same time, the owners themselves will be pleased that they will no longer be legitimately able to offer their most talented and most expensive players the same exorbitant salaries afforded to them before. The owners will undoubtedly be happy that less of their revenue will go to salaries and more of the profit will be returned to the club as a business. This very same result occurred in the MLB leagues in the United States after salary caps were introduced to try to create a more balanced league relative to competitive advantage.
Certainly the current UEFA teams are by no means operating on equal footing. Many of the most popular and most profitable teams have a distinct advantage over smaller teams, yet the larger teams’ deficits continue to soar as more and more money is demanded by top players. The new UEFA regulations will help to reduce the direct debt obligations of the league’s teams, but in fact, the regulations will hurt the league in many ways, and these effects will likely not be limited to European soccer alone.
Conte, Niccolo. 2010. “UEFA’s Financial Fair-play and why we should care.” Soccer Lens
Homepage. Found Online August 15, 2010 at < http://soccerlens.com/uefas-financial-fair-play-and-why-we-should-care/52314/>.
Ducrey, Pierre; Ferriera, Carlos Edward; Huerta, Gabriel; and Kevin Tallec Marston. 2003.
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of Sports Economics. Vol. 4, No. 4. Pp. 255-279.