Before you begin selling something, you need to know who you are selling to. When developing a general profile of your customers, you might want to define them by their demographic characteristics, such as:
Canada’s oilsands are getting a taste of their slower-growth future. Husky Energy Inc. on Thursday became the second big oilsands producer to say that it throttled back first-quarter production in response to steeper discounts for Canadian crude.
But what does a marketer do? Unfortunately there isn’t one set job description for everyone in this position. But we connected with marketing pros to give you a sneak peek at three common types of marketing. Taking a closer look at these options will help you determine if this field is right for you.
“Going public” through a process known as an initial public offering (IPO) means that part of the business will be owned by members of the public. This requires the organization as a distinct entity, to disclose information to the public, and adhering to a tighter set of laws and procedures. Most public entities are corporations that have sold shares, but increasingly there are also public LLC’s that sell units (sometimes also called shares), and other more exotic entities as well, such as, for example, real estate investment trusts in the USA, and unit trusts in the UK. A general partnership cannot “go public”.
Marketing professionals must have strong interpersonal and communication skills in order to negotiate contracts and work with clients, while leadership abilities are critical for those who are in charge of a marketing department or lead a creative team. Strong research and analytical skills allow them to organize market research data and provide insights about their findings. Also critical to success in this field are skills in organization, time management and persuasion, as well as creativity and imagination.
Franchises: A franchise is a system in which entrepreneurs purchase the rights to open and run a business from a larger corporation. Franchising in the United States is widespread and is a major economic powerhouse. One out of twelve retail businesses in the United States are franchised and 8 million people are employed in a franchised business.
The functional level relates to departments within the SBUs, such as marketing, finance, HR, production, etc. The functional level would adopt the SBU’s strategy and determine how to accomplish the SBU’s own objectives in its market.
Public relations departments are in charge of managing communications with the media, consumers, and the public. Companies, non-profit organizations, government agencies and educational institutions must all handle public relations to some extent, with each organization’s unique needs dictating the focus and tasks of its public relations department. In general, individuals in these departments serve as spokespeople and liaisons, promote events or newsworthy developments, and generally work to ensure the company or organization maintains a positive image in the eyes of the public.
Convenience, shopping, specialty or unsought good: Is your product something that people pick up regularly when doing their errands (convenience good); is it something they would shop for and compare different brands (shopping good); is it something special they would only buy infrequently, like an expensive gift or luxury item (specialty good); or is it something they don’t really want, but may need to buy (unsought good)? Understanding which category your product fits into will be important in determining how to price it, where to sell it and how to promote it.
CALGARY — Cenovus Energy Inc. says it will consider slowing development of a 50,000-barrel-per-day oilsands expansion project that it started building early last year if there isn’t meaningful progress on increasing pipeline capacity out of Alberta.
This refers to the process of setting a price for a product, including discounts. The price need not be monetary; it can simply be what is exchanged for the product or services, e.g. time, energy, or attention or any sacrifices consumers make in order to acquire a product or service. The price is the cost that a consumer pays for a product–monetary or not. Methods of setting prices are in the domain of pricing science.
Patrick Gleeson received a doctorate in 18th century English literature at the University of Washington. He served as a professor of English at the University of Victoria and was head of freshman English at San Francisco State University. Gleeson is the director of technical publications for McClarie Group and manages an investment fund. He is a Registered Investment Advisor.
Mutually beneficial exchange: In a transaction in the market economy, a firm gains revenue, which thus leads to more profits/market share/sales. A consumer on the other hand gains the satisfaction of a need/want, utility, reliability and value for money from the purchase of a product or service. As no-one has to buy goods from any one supplier in the market economy, firms must entice consumers to buy goods with contemporary marketing ideals.
The Business Manager is a free platform to manage your business with a 2-layer permission model. The two systems of permissions that help businesses securely manage and maintain control of their ad accounts, Pages, and catalogs.
“[Market research] can help organizations uncover any unmet needs customers might have, measure the level of customer satisfaction, estimate price sensitivity, estimate the demand for new products or services or determine if there are any distinct segments of customers that might have an interest or openness to a certain product,” says Tim Glowa, co-founder of Bug Insights.
The Chartered Institute of Marketing defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” A similar concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value. In this context, marketing can be defined as “the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage.”
Depending upon the profession, an aspiring marketer can seek out anything from a certificate to a PhD – and in most cases, these programs can be found not only in brick-and-mortar schools, but online as well. Here’s a rundown of what to expect from each level.
Jump up ^ Blackwell Reference, http://www.blackwellreference.com/public/tocnode?id=g9780631233176_chunk_g978140510254422_ss1-48; Kotler, P., “What consumerism means for marketers”, Harvard Business Review, vol. 50, no. 3, 1972, pp 48-57; Wilkie, W.L. and Moore, E.S., “Macromarketing as a Pillar of Marketing Thought,” Journal of Macromarketing, Vol. 26 No. 2, December 2006, pp 224-232 DOI: 10.1177/0276146706291067; Wilkie, W. L. and Moore, E.S., “Scholarly Research in Marketing: Exploring the “4 Eras” of Thought Development,” Journal of Public Policy and Marketing, Vol. 22, No. 2, 2003, pp 116–146
A distinction should be made between marketing research and market research. Market research pertains to research in a given market. As an example, a firm may conduct research in a target market, after selecting a suitable market segment. In contrast, marketing research relates to all research conducted within marketing. Market research is a subset of marketing research.
The product’s sales/revenue is increasing, which may stimulate more marketing communications to sustain sales. More entrants enter into the market, to reap the apparent high profits that the industry is producing.
“The benefit of traditional marketing is that you can reach a lot of people in your audience via print, radio, TV ads and outdoor advertising,” says Paige Arnof-Fenn, founder and CEO of Mavens & Moguls. She goes on to explain that this form of marketing can be expensive, which is why many companies have resorted to digital marketing tactics.
Marketing encompasses not only determines consumer need, it also helps create consumer need. It really begins with understanding your potential consumer. One well-known 21st-century marketing failure had to do with U.S. companies’ attempts to sell deodorants in China. What these U.S. companies failed to realize is that, biologically, ethnic Chinese do not have the same body odor issues as Westerners. They also failed to take into account that Chinese consumers commonly regard sweating as a healthy activity that — among other things — purifies the system and not, as is common among Americans, as a social problem.
Inside Manulife’s plan for a massive Asian expansion Subscriber content Manulife’s new CEO sees the company’s future growth coming from Asia’s burgeoning middle class. Unfortunately, so do many of his competitors
During the 1940s, the discipline of marketing was in transition. Interest in the functional school of thought, which was primarily concerned with mapping the functions of marketing was waning while the managerial school of thought, which focussed on the problems and challenges confronting marketers was gaining ground.  The concept of marketers as “mixers of ingredients,” was first introduced by James Culliton, a Professor at Harvard Business School.  At this time theorists began to develop checklists of the elements that made up the marketing mix, however, there was little agreement as to what should be included in the list. Many scholars and practitioners relied on lengthy classifications of factors that needed to be considered to understand consumer responses. Neil Borden developed a complicated model in the late 1940s, based upon at least twelve different factors.
Even when the state of the economy fluctuates, the demand for marketing professionals often stays relatively steady. Companies have ongoing needs for marketing experts who can develop sales and advertising strategies, solve complex problems, and generate new ideas to promote products and services. While many marketing professionals obtain a degree in business with a marketing major, it’s not the only way into the field. For example, some larger companies and corporations offer exclusive marketing training programs for college graduates so they can gain hands-on experience in the field and grow with the company.
BubbleUP believes in results-driven marketing. With 13 years of experience serving over 700 clients and a core staff of 20 employees – we understand the value of measuring success, and realizing a return on your investment in BubbleUP’s services.
The CEO of oilsands giant Suncor Energy Inc. says he’s confident new oil pipelines will be built after hosting Prime Minister Justin Trudeau at its newly opened Fort Hills oilsands mine in early April.
“Considering 70 percent of all phones today are smartphones, it’s increasingly important that brands and organizations think about how to connect with consumers on this increasingly important digital device,” Crow explains.
Business process management (BPM) is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients. BPM attempts to improve processes continuously. It can, therefore, be described as a “process optimization process”. It is argued that BPM enables organizations to be more efficient, effective and capable of change than a functionally focused, traditional hierarchical management approach.[who?]
Jump up ^ Kotler, P., Marketing Management (Millennium Edition), Custom Edition for University of Phoenix, Prentice Hall, 2000, p. 9; Quelch, J. A. and Jocz, K.E., All Business is Local: Why Place Matters More than Ever in a Global, Virtual World, Penguin, 2012, p. 4
Sobeys on the rebound: Is Michael Medline’s strategy working? Subscriber content Empire has been bleeding since it’s bungled takeover of Safeway in 2013. One year into his tenure as CEO, Michael Medline has instituted a four-point plan to fix it. Is it working?
A company limited by shares. The most common form of the company used for business ventures. Specifically, a limited company is a “company in which the liability of each shareholder is limited to the amount individually invested” with corporations being “the most common example of a limited company.” This type of company is common in England and many English-speaking countries. A company limited by shares may be a
Individuals with strong planning and communication skills can excel in a career as an advertising manager. Advertising managers are in charge of communicating with clients, mapping out advertising strategies and timelines, preparing advertising budgets, and negotiating contracts for media placement. They often travel to trade shows and conventions, and to meet with clients to negotiate contracts.
Uber’s toxic workplace drama. Google and Facebook’s data privacy woes. The tech industry is under siege. Tamsin McMahon reports from San Jose, Calif., and finds signs of changing attitudes as a new generation looks to reshape business in the world’s capital of innovation
Services marketing needs to account for the unique characteristics of services (i.e. intangibility, perishability, heterogeneity and the inseparability of production and consumption). In order to recognize the special challenges involved in selling services, as opposed to goods, some authors advocate extending the model to 7 Ps for service industries by adding; Process – the way in which orders are handled, customers are satisfied and the service is delivered; Physical Evidence – is tangible evidence with which customers interact and with the potential to impact on the customer’s service experience; People -service personnel and other customers with whom customers interact and form part of the overall service experience. 
Internet marketing presents both marketing practitioners and scholars with special challenges including: customer empowerment, new communication modes, real-time interactivity, access to global markets, high levels of market transparency and difficulty maintaining competitive advantages. While some scholars argue for an expanded marketing mix for internet marketing, most argue that entirely new models are required. 
Jump up ^ Fisk, R.P., Brown, W. and Bitner, M.J., “Tracking the Evolution of Services Marketing Literature, Journal of Retailing, vol. 41 (April), 1993; Booms, B. and Bitner, M. J. “Marketing Strategies and Organizational Structures for Service Firms” in James H. Donnelly and William R. George (eds), Marketing of Services, Chicago: American Marketing Association, 47–51; Booms, B. and Bitner, M. J. “Marketing Strategies and Organizational Structures for Service Firms” in James H. Donnelly and William R. George (eds), Marketing of Services, Chicago: American Marketing Association, 47–51