Marketing is the process of identification and prediction of customer needs, the main goal of which is providing appropriate expectations/needs/wants of consumers in advertising and production sphere of company’s performance in order to increase the number of sales and maximize profit (Anderson, 2004). Also the term marketing can refer to the human activity that is aimed to meet the needs and wants through the exchange. Marketing management is it is a process that consists of an analysis, planning, plans implementation and monitoring of measures aimed at establishing, building and maintaining mutually beneficial exchanges with target markets for the purposes of the enterprise (for profit, sales increase, market share, etc.)
Strategic marketing management is a concept of marketing strategy creation, examination of its main components and their integration/relationship. It tends to answer at two key questions: which customers would be served and how the value of company would be created. The first question consists of segmentation and targeting components. They are used in order to understand who the customers of produced goods are. Segmentation is the process of defining who your potential customers are and what needs, tastes, they have. It can be grouped by demographic, age, behaviour, etc. characteristics. The segment is measurable part of people who will consume company’s product. Targeting is a process of defining main group of people from the chosen segment. The second key question of strategic marketing management consists of positioning and differentiation. Positioning refers to the process of creating the products’ identity/impression in people of the target market of the company. Differentiation is the process of competitive advantages creation and development. They help to develop strategy that would help to separate products of definite company among the same products of others’ firms. It is very important to have clear answers on the key questions of the strategic marketing management as they help to create clear understanding of the company’s consumers and to build up the unique features of the definite product.
Survey methods refer to the process of gathering information by talking with people, asking them question in order to find out the needed information. Respondent of these surveys are asked questions about their opinion, experience, wants, needs (Sandhusen, 2000). The main purpose of the survey is to collect quantitative and qualitative data about the definite product, company, service, etc.
There is a range of types of the survey methods that would be discussed further. In-home personal interview is one type of survey methods. It is help by the visiting respondent at home. Advantages of theses type are high quality information found, quick analysis of the obtained information and quick respond. A lot of expenses on the interviewers travelling and living costs, huge time consuming are the main disadvantages of this method. The next type of survey methods is mall intercept interviews. This kind of survey is made by the contacting with the consumers in the area of supermarkets and malls. Advantages of this method are: the ability to get quick response from the customer and if it is needed to ask about detailed information, to understand the point of view of the client, brief questionnaires only with the most valuable questions. Disadvantages are very costly because of mall space renting, hard to understand who refers the needed target group. The third type of survey methods is computer-assisted interviews. They are available in two kinds: personal and self-interviewing. The fist one is held with the assistance of interviewer and other – by the person without any help. Advantages of these methods: middle costing, quick to analyse. Disadvantages: no possibility to understand details, middle quality of the got information (Alreck, 1995). The next technique refers to the telephone interviews. It is the process of telephoning people and asking them needed questions, for example, from call centre of the company. Advantages: cheaper than personal interviewing, quick information analysis, detailed information is also available. Disadvantages: time costing, can be very expensive.
Case study.
TIX4U.com is a rapidly growing company that successfully performing on the business sphere of sport and concert ticket realisation. At first company have to define “Where is it†and “What does it have to work withâ€. This means that Randy have to identify, examine and analyse the recent history of the company, its organisation, programs, everything that would help to assess current position and situation of the company. The second question is related to the SWOT analysis performing. It would help to understand advantages and disadvantages of the firm, its strength and weakness and would help to concentrate on strength and improve weak sides of the company. The next step that should be done preliminary the main company’s strategy development is to determine “Where does the company want to be?â€. This step is the one that prevent for clear vision building and main goals setting. It also assumes the clear mission of the company creating. The clear mission is the primary key in the process of goals setting, because it shows what is the most valuable for the company. The desired long-term goals setting will help to build effective and efficient plan that would demonstrate where company is going, what it wants to achieve and when it will be achieved. Than the means that would help to reach all set goals should be identified, analyzed and grouped. These were the preliminary steps of the successful strategy development for the TIX4U.com.
The term vision refers to the identification of the desirable outcome and state that company is willing to achieve. Otherwise, mission is the statement that shows what company does, who it is performing for and how it does what is does.
Vision of the TIX4U.com can sound like this: “People are living in the world where they can receive the best online ticketing service of sport events and concerts ticket supplying by the TIX4U.comâ€. The mission statement of the company can sound like this: “TIX4U.com Company’s mission is to provide our customers all our services in the excellent way with continuous improvement that would change their views on the ticketing servicesâ€.
Assignment
The big companies and corporations have a huge impact on what is going on in the country. This is because they have big earnings where the part of them they pay to the government as taxes. Sometimes, government may want to adopt some laws in order to protect customers or their health that would have a negative impact on the performance of corporations that are working in the definite sphere. In order to avoid such laws, some companies may practice extensive lobbing. Lobbyists are the people that work for public relations of the companies, public interests groups, etc. They play a huge role in the companies’ performance as they are being a strong communicator that influences views in favour of the company. They may work in order to change public relation to the company or to lobby extensively some laws to make the company’s performance easier. For example, corporation may extensively lobbying the government to have a subsidies in the distinct sphere in order to decrease the tax pressure on the company or to receive the needed materials for the production in the lower price.