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University Degree: Marketing
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For my project I am going to design a new range of Alco-pop. I choose this idea as I feel there is room in the current market to introduce a new brand.
However my project is new to the market and the brand name and product is unknown, this will make introducing the product difficult therefore the advertising campaign will need to be effective. The audience I am aiming the product at will be young outgoing eighteen to thirty year olds. This age is the younger age of clubbers that will be more willing to experiment with new products on the market where as the older audience will be more set in there way as to what they drink.
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We found that Market Research takes along time to carry out, so the quicker we started the quicker we can launch our product, and this is how it started. 2.1 Firstly we had to decide which way we should go for Market Research. We had to go the right way about this because as you know there are many different ways to assess the current market. We took all options into consideration; our first option was Secondary Research. We found that Secondary Research wasn't for our companies because mainly it is second hand information and our companies want fresh information,
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The new product has: * 'New blade Technology' - with 3 blades (same as 1999 model) * The ability to shave against the grain * New lubrication strip * A new 15% higher premium price. The 15% higher price is so the market thinks it is a premium product the mentality they are trying to invoke is the higher the price, the higher the quality. The replacement cartridges also carry a higher price; a pack of 8 replacement blades was $19.99 and has risen to $22.99 for the new product. Marketing Strategy Four P's: 1. Product: Mach 3 Turbo 2.
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Marketing is not just about advertising the product. It also includes how it is promoted and the Marketing mix metimes called the 4 Ps.
Do you know of any special offers on Poppets? 7. What kind of special offer would attract you to buy Poppers? 8. Have you ever seen any adverts for Poppets? 9. Do the adverts influence you? 10. How do you rate Poppets to other confectionary? History Of Paynes Paynes was first incorporated on 17th April 1896. Their initial products were mostly blends of tea and coffee, managing to continue making a profit. Their market share increased in 1905 when the production of cocoa increased dramatically.
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* Many people eat chocolate and sweets whilst "on the go". Therefore, it is good to market a new product that can be eaten "on the go". * Masterfoods employ a lot of skilled workers, with a lot of experience and knowledge which is obviously beneficial to the company. WEAKNESSES * The machinery that the company has is often hard to keep up to. * Confectionary is not seen as a healthy product, and so it may suffer in the long- term.
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Big brand names. The looks. The fashion. The style. All these add up to our place in modern day society.
There are quite a number of advantages of wearing a school uniform, it can mean less hassle in the morning when trying to decide what to wear. It can also mean less jealousy and animosity when it comes to designer brands! On the other side there is also quite a number of disadvantages such as uniforms being dull and lifeless. The main colour for uniform is blue. Uniforms can be very dear. For a designer label on a blazer, people can pay up to and over �100!
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The moccasin with metal bit is introduced and becomes another icon product. Guccio Gucci dies in 1953 whilst the company was enjoying a period of great renown. With the opening of the New York store in 1953, Gucci starts to build a global presence. 1960's- Stores open in London, Paris and Palm Beach, bringing Gucci's success to the key markets around the world. Grace Kelly, Peter Sellers and Audrey Hepburn help make Gucci synonymous with Hollywood chic.
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The pricing is also important in the confectionary market, as all products cost roughly the same. Confectionary is generally aimed at younger people with not as much money to spare, and so the price is very important. Confectionary has to be sold in the right place, which is where distribution becomes important. If the product is not readily available, then the impulse buying public would be unable to see the product to buy it. So it is important that confectionary is sold in local shops as well as supermarkets.
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In television, for example, the company ITV are funded through advertising and they are a profit making organization. Although the BBC television and radio company are financed through television licensing: people have to pay a certain amount of money each year for the privilege of watching BBC television programmes. The BBC would present the government with figures of television ratings and would persuade them to introduce television licensing for the public. Advertising is a way of getting a message from the vendor to the buyer. The message needs, as with all communication, a medium to carry it. The plural of medium is media.
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Large organisations such as Nike do not seem to heavily focus on advertising their product features, but instead, focus on their brand image. Products can change, as can features, but brands, if successful, can last decades. For instance if you hear Nike's slogan "Just Do It" you do not think of the high performance plastic used in the making of the trainers, but instead think of how well you could perform in Nike clothing, trainers, equipment etc... Nike has instilled this implicit ideology into its consumer through many advertising campaigns.
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I have chosen to produce a perfume for single woman as I feel that there is a gap in the market in this area.
The amount of products sold can depend greatly on the place that it is being sold at. For example it is no use selling perfume aimed at young people in a city with an entire population of old people as they will not sell. This is just an example of the effect that it can have. The path taken in which the product gets to the consumer (the channel of distribution) is also very important. 'The product' has to also be considered. What does the customer want? What will it smell like? The customer will very unlikely want a perfume smelling like tuna sandwiches or cat food.
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What are the advantages and disadvantages of division of labour in a factory making a large ship, a pair of trousers and a computer?
The jobs are divided up between a lot of people. This has an advantage as specialised people specialise in their own area, which makes the ship of better quality for example a financial advisor would make a bad job of building the ship as he knows about figures and probably has not much knowledge of wood work. This improves the quality of the ship immensely. With many people working to make the product who work as a team the speed in which the ship is made increases. Whereas if a small team worked on things they would approach each part of the making bit by bit which would be time consuming.
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Finally we have chosen posters because we can attract all sorts of people just on where we put them. In our group we decided that near schools, library, parks and shopping centres would be the best because this is where teenagers are most frequent. I think that what we have produced a product that is right for these slots because this is when most teenagers listen watch and where they are. I think our audience will respond quite well to our product, we have tried our best to come up with a catchy slogan and we have written our logo in a graffiti style so it is relevant to our target.
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The integration strategy is divided into two categories; horizontal and vertical. This paper will discuss the advantages that a company can gain through horizontal or vertical integration. Horizontal integration is the combination of two or more companies in the same business, carrying out the same process or production, usually to reduce competition and gain economies of scale. The main advantage involved with horizontal integration is growth. Two or more organization group together to form a larger entity, which in turn, gives them the ability to capture a larger market share. Market share is the proportion of sales of a good or service that is controlled by a company.
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In this presentation, I will be discussing the market strategy (which I have set) for a chocolate company called Chocolicious. The main things I will be discussing are;
If any problems are found Chocolicious will be able to make the necessary adjustments. To make sure the company is successful the product and pricing, place and promotion (marketing mix) is also a key factor making sure the organization does well. The product 'sweet dreams' has to be of a good quality, taste good and look good to make sure the product can sell and compete with big competitors like Cadbury's As the chocolate is aimed to kids/teenagers who on a majority don't work means the chocolate should be affordable .the price has to be affordable and competitive.
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It is in both of their interests to regulate the supply o diamonds to the world, because if too many diamonds became available then the prices of diamonds would be severely reduced. But if both DeBeers and the Russian company
It would also mean that there would be a lot more Russian diamonds on the market as opposed to when moist of the Russians diamonds got leaked to the black market where they could be sold at a much lower price than they should have been. This will mean that the world supply of legal diamonds will become much higher, and because there will not be so much being leaked to the black market that will mean that diamond companies will be able to raise their prices and people will still pay for them, because you would not be able to get them any cheaper any where else in the world.
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The company which I have chosen to investigate is the top end entertainment electronic producer, Bang & Olufsen.
However, Loewe has managed to create a strong upmarket brand. Both company's were founded in the 1920s, and both their main philosophy is focus on core business. Bang & Olufsen's sales are increasing as they are gradually becoming widely recognised. This is shown in the table below: YEAR END NET SALES PRE-TAX PROFIT YIELD (31 MAY) (EUROS M) (EUROS M) (%) 2000 512.1 30.11 1.1 2001 558.2 30.38 2.0 2002 609.5 39.52 2.4 2003E 666.8 48.93 2.9 Source: Company data and Deutsche Bank estimates B&O is active in over 40 countries, like Loewe (over 45 countries).
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Techniques can be simple, testing the expectations of sales staff or looking at previous sales of the same or a similar product, or at competing products. More sophisticated surveys may be conducted, by mail, telephone, or personal interview, with a population sample selected with due attention to age, sex, socio-economic grouping, or geographical location. Advertising is the use of mass media to carry messages for a commercial purpose or to advance a product or service; it can influence the pricing, packaging, design, display, and sales of a product.
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is located in the "detergents" and "laundry" industry. It is mainly targeted at family washing done using automatic washing machines. The people most likely to use it are those with sensitive skins since its non-biological. It also contains a stain-removing preposition. The heavy users use three or more bottles a month, the medium users use two or more bottles a month and the light users use one or less bottles a month. The heavy users are families consisting of mother, father and atleast two children who wash heavily.
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For example Nike sells their products at extremely high prices and sacrifices those people that can't afford the products. The advantage of skimming is guaranteed buyers from wealthy people at the beginning and normal people when the price is dropped. The disadvantage is that it isn't in the mass market so it may not make the expected profit. A further pricing strategy is penetration pricing. This is setting the price for your product initially low to entice customers and then raise the price afterwards. The advantage of this is that by setting it at an initially low price it will promote the product.
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Retailers and consumers must both be willing to accept the larger sizes. To replace smaller packaging with larger is more easily said than done. When stocking, stores tend to place larger than standard products on more spacious bottom shelving. There, near the floor, they sit unnoticed except by informed, motivated customers. Consequently, sales are low and the product fails to meet the stores' turnover targets. Ultimately, the product is doomed to be discontinued -- all because of bottle sizes and shelf placement!
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Maybe they try to convince you that you really ought to be pleased with your inferior product. Maybe they tell you that they wanted to do the right thing, but circumstances prevented it. Maybe they even intimidate you. Sorry, they say. You back away. You take it on the chin and in the pocket book. Or you come out swinging and create such a firestorm that the damage is so much worse than the bad deal that you got. And you're still not happy. The company has made a profit off of you, and you have still not gotten what you paid for.
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* Price/value relationship. * The vehicle's responsiveness to traffic on dry and wet roads is great. * The smoothness of the ride and the roomy interior makes local and long distance trips quite comfortable and provides driving enjoyment for all passengers. * BMW manufactures the safest cars in production of any class anywhere in the world. * Outstanding towing vehicle. * Active and passive safety design; engineering and the vehicles leading-edge technology go well beyond standard SUV levels * Great for outdoor activities.
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An example of this is Rolex watches; the price they cost to make is not even close to what customers pay for it, you are paying for the prestige surrounding the brand. The cost of the advertising and marketing to build up the reputation of the company is expensive but the prices it later allows them to charge will make up for the initial outlay. The next way firms look to gain a competitive advantage is through focus. This involves a business focussing on a particular segment of the market.
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After reading the article, Adolescents attention to beer and cigarette print ads and associated product warnings (Journal of Advertisement 1998); there are several comments that can help us analyze it from different points of view.
"The company places so many advertisements in magazines with ''huge youth readerships,'' like Sports Illustrated and Rolling Stone,"(Winter, 2002) There has been lots controversy when it comes to advertisement campaigns and strategies of alcohol and cigarettes, and determining which their target audience is really when you can find ads on different media. But isn't this purpose of advertising? According to one of many definitions, "Advertising is the non personal communication of information usually paid for and usually persuasive in nature about products, services or ideas by identified sponsors through the various media."
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