Marketing Challenges

In: Business and Management

Submitted By bbrethau
Words 1084
Pages 5
Marketing Challenges in a New Economy There is a new trend in today’s economy that does not involve large chain suppliers, retailers or wholesalers. This new trend involves companies that allow owners to rent out their physical assets to increase their income. This new business practice puts the producer directly in contact with the consumer to conduct business. This new trend in the consumer marketplace is known as the share economy. This paper will discuss how this new concept of the share economy has had an effect on the traditional economy and whether the shared economy is creating new value for the consumer or if it is just replacing existing business. The share economy concept involves individuals renting out their physical assets. For example, an individual who is looking to increase their monthly income has the option to increase their income by renting out their home. Another example would be an individual who rents out their car, which would otherwise be unused in their driveway. According to Geron (2013) Forbes estimates that this new economy will generate revenue into people’s wallets that will surpass $3.5 billion this year, with growth exceeding twenty-five percent. This new share economy has been able to grow at a very successful rate and has impacted a stagnant wage market into a disruptive economic force (Geron, 2013, para 9). One element that has helped to drive the share economy is technology. Technology has helped in improving the connection between buyers and sellers. The old ways of placing an ad in the classified section of the newspaper, has been replaced by the use of the Internet and websites. The Internet has allowed sellers to reach their customers faster and also reach a much broader demographic group and area. This new method is referred to as e-commerce. “E-commerce refers to the purchase or sale of products over an electronic…...

Similar Documents

Marketing Challenges in India

...MARKETING MANAGEMENT II REPORT ON “MARKETING CHALLENGES OF INDIA” Submitted to Prof.-S. Anant Ram Submitted bySayona Maitra (2012287) Shafique Gajdhar(2012289) Satakshi Rani(2012276) Shubham Saxena(2012303) Suneet Shome(2012315) Sunil Gupta(2012316) Word Count 6909 Page Count 46 Group no. 8 1 Contents The marketing challenges in India can be 1. Cultural diversity: 2. Differences in purchasing power of consumers in India 3. The layer of Westernization 4. Considering the psychographics and cultural nuances of consumer segments: 5. Retailing complexities6. Indian consumers reflect a range of behaviors: 7. Consistent brand association in midst of price war 8. Penetration levels of branded offerings among consumers are extremely low (5) (6) (7) (8) (9) (10) (11) (12) 9. Symbolism is reflected across product categories (symbolizing status or emotions) can be found in several product categories in today's context. It is a challenge for marketers to achieve symbolism for their products in India. (14) 10. The challenge for marketers is to ensure a judicious mix of traditional values and contemporary thinking for such segments. (16) 11. The presence of unorganized sector in several categories has created challenges to marketers at the lower price ranges. (18) 12. illegal duplicates prevalent mainly in Rural and Semi rural markets pose a threat to reputation of the company. 13. High degree of price sensitivity is a strong cultural trait in the Indian mass market...

Words: 7065 - Pages: 29

Evaluate the Opportunities and Threats Faced by Companies Marketing to Children. in Your Answer Provide Examples of How Firms Are Responding to These Challenges and Opportunities in Their Marketing Strategies.

...bond with a child could lead to significant customer lifetime value to a company. However there are inherent risks in marketing to children bound up in the fact that many feel that it is intrinsically unethical to market to children. As a result of this, companies that market to children and get it wrong face a moralistic and significantly stronger backlash. Applying a PESTLE analysis highlights the external factors companies that market to children face; Political - Changes in government and legislation affect ways in which companies can approach marketing for children and young people. In December 2003, the British Secretary of State for Culture, Media and Sport, Tessa Jowell MP, asked the British Office of Communications (OFCOM) to consider proposals for strengthening the rules on television advertising of food aimed at children, with new restrictions put in place in 2007. Economic - In the US, companies are estimated to spend $17billion a year marketing to children, (1) an increase from the $100 million spent in 1983. (2) A de facto recognition of the great economic value children represent. Social – Marketing to children and young people has become a topic for debate. Societal attitudes regarding this are strong. Campaigns lobbying governments are high profile and regularly call for changes and greater regulation. Technological – Changes in marketing methods through technological innovations are making access to children easier and without the same......

Words: 2189 - Pages: 9

Marketing Research Professional Challenge- Vancouver Symphony

...Marketing Research Professional Challenge Executive Summary Research Objectives The Vancouver Symphony Orchestra conducted a survey to understand what musical selections would increase ticket sales. VSO management conducted the survey at a free concert. 656 out of 2,400 people responded. Goals Determine the musical preferences of non-subscribers and subscribers. Findings Musical Preferences of Subscribers & Non-subscribers (see Appendix A): Classical, twentieth century, pops or Canadian. The ratings for “choice of music appealed to me” increased by 17% from the first survey to the second. The survey did not ask what music the VSO doesn’t offer but attendees want to hear. Being able to hear classical music performed live and international performers was rated as most important by both groups. The purpose of the study is to determine what musical selections subscribers and non-subscribers want to hear in order to increase ticket sales. Survey results yielded no information as to what music preferences would increase ticket sales. But, findings initially indicated that the VSO should focus on ticket prices to increase ticket sales. For example, a cross tabulation of eight pairs of events (characterized by reputation of performer, seating arrangements, and single tickets prices) and subscriber information showed a preference for ticket prices between the range of $8 and $14 for both subscribers and non-subscribers. The original survey indicated......

Words: 1562 - Pages: 7

Prince Sports: Challenges in the Marketing Environment

...Prince Sports: Challenges in The Marketing Environment Brittany Pimpinella Empire State College Abstract Prince Global Sports started out as an unintentional creation of an oversized tennis racquet that Howard Head created all because the thought of simply larger tennis racquet because the game of tennis was too complex to him. His creation launched a money making company later to be known as Prince Sports INC. This company had grown so much they expanded into the footwear, tennis gear, running gear, accessories, sports bags and many more products that had competitors leaving the market. Prince had learned that creating items and selling them wasn't as easy as it was thought out to be, the constant struggle of needing newer product, better marketing skills, and finding loyal consumers were all challenges he faced. Luckily, Prince’s marketing team was able to reach out to the right consumers that had that annual making 64 million in revenue, but only for so long. Prince Sports: Challenges in The Marketing Environment All type of businesses face unique challenges. It is almost impossible to start launch a business correctly without time, effort, and dedication. A business is not built in a day neither is the workers nor product. Most business owners just have the desire to own a business not the drive to do so. They must find a way to start their business off right, by gathering their thoughts. Buying a franchise, an existing business, or looking to others......

Words: 1746 - Pages: 7

Evaluate the Opportunities and Threats Faced by Companies Marketing to Children. in Your Answer Provide Examples of How Firms Are Responding to These Challenges and Opportunities in Their Marketing Strategies.

...JoinSearchBrowseSaved Papers Home Page » Business and Management Evaluate the Opportunities and Threats Faced by Companies Marketing to Children. in Your Answer Provide Examples of How Firms Are Responding to These Challenges and Opportunities in Their Marketing Strategies. In: Business and Management Evaluate the Opportunities and Threats Faced by Companies Marketing to Children. in Your Answer Provide Examples of How Firms Are Responding to These Challenges and Opportunities in Their Marketing Strategies. Introduction Children form a significant consumer group in their own right and, in addition, influence the purchasing choices of their families and friends. They represent a huge market offering significant financial returns to companies. Children are also the adults of the future so building a strong bond with a child could lead to significant customer lifetime value to a company. However there are inherent risks in marketing to children bound up in the fact that many feel that it is intrinsically unethical to market to children. As a result of this, companies that market to children and get it wrong face a moralistic and significantly stronger backlash. Applying a PESTLE analysis highlights the external factors companies that market to children face; Political - Changes in government and legislation affect ways in which companies can approach marketing for children and young people. In December 2003, the British Secretary of State for......

Words: 388 - Pages: 2

Ethical Challenge Integrated Marketing Communications

...Ethical Challenge Integrated Marketing Communications Paper For By Integrated Marketing Communications This paper is a review of the ethical and social responsibility that General Electric (GE) faces regarding New York’s Hudson River. The paper will also detail ethical challenges and efforts taken by GE to address, inform, and relate its standing on the Hudson River topic. Also covered will be the influence of external and internal factors on GE’s IMC as well as reviewing the role of research in the process. Lastly, two ethical questions will be prepared based on the paper. Ethics is defined as “the principles that serve as operational guidelines for both individuals and organizations” (Baack & Clow, 2002, p. 33). In upper New York state GE has a capacitor and arrestor factory located in the city of Fort Edward. GE manufactures electrical distribution and control equipment including capacitors and arresters that used polychlorinated biphenyls (PCBs) as a coolant. For 50 years, the manufacture, sale, use and discharge of PCBs were legal in the United States. More than one billion pounds of PCBs were produced and sold. PCBs were considered a “miracle” chemical because they would not burn and were widely used in electrical equipment installed in wooden factories and school buildings where fire was a constant threat. In fact, some city codes and some insurance companies required the use of PCB-type transformers and capacitors. A description of......

Words: 868 - Pages: 4

Celebrity Endorsement: a Challenge in Marketing Communications

...CweNovember, 11th, 2013 MCA B2000 AWARENESS, RESEARCH & MEASUREMENT Instructor: Belle Frank Celebrity endorsement: a challenge in marketing communications The case of the “100 Years Skincare for Life” campaign of Nivea Submitted by Jacques Epangue BIC Class of 2015 Introduction The reputation of a brand is a key element of its relationship with its consumers. A strong brand reputation and positioning is built on both the brand identity and the brand image, which is the consumer’s perception of the brand. In fact, two thirds of consumers adopt a brand because they feel like they are connected to its image or its identity. Brand identity is what the brand truly represents, the tangible and intangible values that make a brand distinguishable from other brands. Therefore, the challenge of the brand is to preserve its identity while keeping up with marketing trends and strategies. The history of advertising has seen many controversial campaigns, to say the least, in which the brand has kept itself away from its identity involving its reputation. In 2011, Nivea cream-maker of the German firm Beiersdorf and largest skincare brand in the world, along with its business partner, global marketing communications agency Draftfcb rolled out a global campaign entitled “100 Years Skincare for Life” signing up international singing star Rihanna to be the voice of its 100 year celebrations, and the song “California King Bed” accompanied the whole anniversary campaign......

Words: 1201 - Pages: 5

The Overall Benefits, Challenges and Opportunities to New Businesses Using Internet Marketing

...The overall benefits, challenges and opportunities to new businesses using internet marketing Task 1 Access * More frequent individualization and communications to build relationships The main benefits and opportunities of using the above are as follows. When you have a customer’s information you can work out what they might like. With this information you can send them relevant product information and special offers instead of sending everyone the same e-mails which they might get sick of and completely disregard or even choose a different business. Using the information correctly will build a relationship with the customer which in turn will build customer loyalty which is a very important benefit considering the amount of competition. Amazon is good example of a business using customer information correctly and individualization for customer relations. They build relationships with customers by monitoring and collecting a customer’s purchase history and sending out personalized advertisements via e-mail, social media and as soon as a customer logs in tin the website. This makes it more personal. * Use of communications to promote e.g. Special offers, product launches The main benefits and opportunities of using the above are as follows. The use of online communications can save a lot of money in advertising new products and offers which if it is not done online then it would need to be done using leaflets and flyers which need to be delivered as well, which...

Words: 2325 - Pages: 10

Google Online Marketing Challenge

...Welcome to the Google Online Marketing Challenge The Google Online Marketing Challenge is an exciting opportunity for students to experience and create online marketing campaigns using Google AdWords and Google+. Over 50,000 students and professors from almost 100 countries have participated in the past 5 years. With a $250 budget provided by Google, students develop and run an online advertising campaign for a business or non-profit organization over a three week period. The teams that develop and communicate the most successful campaigns win awesome prizes, including a trip to Google for the students and their professor. Students also have the opportunity to participate in the optional Google+ Social Media Marketing Award by maintaining a Google+ Page for their clients over a six week period. The Challenge is open to student teams of three to six members, regardless of their majors. All students must register under a verified professor/instructor at a higher education institution. Visit Discover GOMC to learn more about the Challenge and how to participate. Be sure to follow us on our Google+ page for the latest updates and announcements throughout the year Competition Process For more details on each of the steps, please refer to the sections on the left side of this page. Step 1: Register for the Challenge. Professors register for the Challenge and are verified by Google. Students form teams of 3-6 members and appoint a team campaign. The team captain then......

Words: 2500 - Pages: 10

Coca-Cola’s Marketing Challenges in Brazil: the Tubaínas War

...A12-04-0025 Coca-Cola’s Marketing Challenges in Brazil: The Tubaínas War Introduction For about a decade, the Coca-Cola Company’s Brazilian subsidiary tried to stop the growth of tubaínas (too-bah-ee’-nas). The word tubaínas designates numerous brands of fairly inexpensive, carbonated, and rather sweet beverages sold throughout Brazil. For more than half a century, hundreds of micro, and a few medium-size, manufacturers produced and distributed the so-called tubaínas on a local or regional basis. Brazil was Coca-Cola’s third largest operation and, after Mexico, the company’s second largest international market. Until the mid-1990s, tubaínas’ combined market share did not pose a threat to Coca-Cola. However, in the next decade, due to important environmental changes, tubaínas’ sales steadily grew in Brazil, making inroads into Coca-Cola’s business and jeopardizing the company’s profitability. Rather than the cola war (the name given to Coke versus Pepsi competition in many countries), the real issue for the Brazilian subsidiary of the Coca-Cola Company has been the tubaínas war. Over the years, Coca-Cola attempted different strategies to undercut tubaínas’ growth. Pepsi-Cola, CocaCola’s notorious contender, ranked fourth among the best-selling soda brands in Brazil. However, Pepsi also gained market share, thanks to its partnership with Brazilian beverage manufacturer AmBev and the successful launch of Pepsi Twist in 2003. Background Mr. Brian Smith, a University of......

Words: 8898 - Pages: 36

Challenges

...he introduce us to invited this a big and meaningful meeting . This meeting respectively at Adamson University, San Marcelino, Manila. . The theme is “Power of Taxation Amidst ASEAN Economic Integration” . Though this meeting ,I know that The Council of Economics Educators, Inc. (CECON), in collaboration with its student arm, In an attempt to re-affirm its commitment as a national organization of Economics educators, as well as to respond to recent challenges among others such as the K12 and the ASEAN 2015, CECON will be conducting a Seminar-Workshop on Organizational Development. During the workshop CECON will re-draw its position as a professional organization, and hopefully strategize programs and projects towards development of Economics education, in order for it to become more relevant. The Philippine Council of Deans and Educators in Business (PCDEB) is a professional organization of deans, directors, chairpersons, administrators, and professors teaching business courses such as Accountancy, Business Administration, Marketing, Economics, Travel and Hotel Management, Entrepreneurship, Commerce, Management, and Office Administration in various colleges and universities nationwide. For the past 12 years since its inception, PCDEB has been preoccupied in organizing regional associations and sponsoring fora, seminars, and conventions in Manila and in different regions for the professional growth of members and business students. It is also strengthening its linkages with......

Words: 687 - Pages: 3

Challenges on Marketing

...Challenges and how to overcome them Even during the most downtrodden of economic times and perhaps even more during those times, the dream of starting a new business venture burns brightly in many people’s minds. The advantages of having a small online business range from lower start-up costs than brick-and-mortar operations to more streamlined administration. But successfully running an online business is far from easy. The moment a business decides to enter the online world, the very first challenge is creating a reliable website. A good designer can accomplish this, but a high-quality website is more than just visual attraction; it should also function smoothly and be designed for carrying out business. So the first issue that we faced is lack of computer expertise. We needs to possess more than a basic knowledge of the Internet to do business online. Necessary skills include knowing how to set up a website for business purposes and how to market our business online. Instead of this, we had do observation or google searching and read for relevant article or teaching materials either technology resources or visitor engagement resources. Another issue is limitations of business types. Some types of businesses may not be suited for the Internet, particularly those products involve the use of the senses. For example, if the unique selling point of our product is its pleasant aroma. After we decides to selling snacks online we just realise that we are facing this problem. So......

Words: 8807 - Pages: 36

Emerging Sales and Marketing Challenges in the Global Hospitality Industry

...sales and marketing challenges in the global hospitality industry Author: Rishi, Meghna; Gaur, Sanjaya S Abstract: Purpose - This paper attempts to identify the emerging themes that can shed light on the sales and marketing issues and challenges being faced by global hospitality organizations. Design/methodology/approach - The paper utilizes a multi-method approach for data collection. A thorough literature review, a focus group and personal interviews were conducted to explore the themes and construct a tentative thematic web. Publicly accessible secondary data in the form of customer reviews were drawn from world's leading web site - Tripadvisor.com. A total of 702 reviews of the customers of luxury hotels from the world's top two tourist destinations - France and USA - were analyzed, using thematic analysis. Customers' perspective is juxtaposed with industry's perspective to offer insights on the sales and marketing issues and challenges being faced by hospitality organizations globally. Findings - Marketing challenges, namely personalization/customization of services, service management, creating a strong parent brand, under-utilization of the social media and diverting tourists from heritage properties, are identified as some of the key emerging sales and marketing issues and challenges faced by the global hospitality industry. Practical implications - Analytically identified themes in this research paper provide valuable insights on issues and challenges related......

Words: 489 - Pages: 2

Coca-Cola’s Marketing Challenges in Brazil: the TubaíNas War

...A12-04-0025 Coca-Cola’s Marketing Challenges in Brazil: The Tubaínas War Introduction For about a decade, the Coca-Cola Company’s Brazilian subsidiary tried to stop the growth of tubaínas (too-bah-ee’-nas). The word tubaínas designates numerous brands of fairly inexpensive, carbonated, and rather sweet beverages sold throughout Brazil. For more than half a century, hundreds of micro, and a few medium-size, manufacturers produced and distributed the so-called tubaínas on a local or regional basis. Brazil was Coca-Cola’s third largest operation and, after Mexico, the company’s second largest international market. Until the mid-1990s, tubaínas’ combined market share did not pose a threat to Coca-Cola. However, in the next decade, due to important environmental changes, tubaínas’ sales steadily grew in Brazil, making inroads into Coca-Cola’s business and jeopardizing the company’s profitability. Rather than the cola war (the name given to Coke versus Pepsi competition in many countries), the real issue for the Brazilian subsidiary of the Coca-Cola Company has been the tubaínas war. Over the years, Coca-Cola attempted different strategies to undercut tubaínas’ growth. Pepsi-Cola, CocaCola’s notorious contender, ranked fourth among the best-selling soda brands in Brazil. However, Pepsi also gained market share, thanks to its partnership with Brazilian beverage manufacturer AmBev and the successful launch of Pepsi Twist in 2003. Background Mr. Brian Smith, a......

Words: 8898 - Pages: 36

International Marketing - Discuss the Challenges Faced by Asian Paints During the Process of Globalization.

...this Question paper, contact aravind.banakar@gmail.com www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224 International Marketing Q1. Discuss the challenges faced by Asian Paints during the process of globalization. Q2. “Leveraging the supply chain across the international subsidiaries would yield best results for the company” Comment. Q3. Do you think that globalization needs innovation in technology or HR processes? Critically analyze. Q4. How important is local manufacturing for an international marketer? Q1. Discuss the statement “In the market for biotech products, patents are very important in preserving competitive advantage”. Q2. Learning the “solid state fermentation” technology made Biocon stronger in the Global market – Discuss. Q3. Can India develop as a global hub for biotech in the next twenty years? Q4. “Retention of professionals in Indian firms is not difficult, given the right environment”. Can this statement be supported by the case facts? Q5. On which future product areas should Biocon concentrate? Q1. Focus is the key to success in International Markets. Do you agree? Why or why not? Q2. Suggest some strategies for Indus Fila in the local market. Is there any link between domestic and international growth? Q3. What are the prominent issues that might challenge Indus Fila in a couple of decades from now? Q4. Which new strategies should the company frame for future growth? Q5. Do Joint Venture......

Words: 399 - Pages: 2

Chap 174 | Super Power | Binan Koukou Chikyuu Boueibu Happy Kiss! Binan Koukou Chikyuu Bouei-bu Happy Kiss! (2018)