1. Define Marketing and Outline the steps in the Marketing Process?
Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
The steps in the marketing process are: Situation analysis → Establishing objectives → Selecting the target market→ Developing the marketing mix → Implementation and control.
2. Why is it important to have Marketing as part of the Strategic Plan of an entity?
This is because, in reality, nearly all strategic planning questions have marketing implications. In fact, the ...view middle of the document...
View the Case on Harley. How does Harley build long-term customer relationships?
Harley’s marketers spend much time on thinking about customers, their goal is to get as close to their Harley riders as possible as and communicate with them very personally. They want to know how customers are , how they think and feel and why they buy a Harley. In 1990 the Harley Owner Group had 650 chapters and 134,000 members with expected growth in 1991 of 15 percent and an additional 55 chapters.
What is Harleys’value proposition?
Once you have got your Harley, it’s much more than a piece of machinery or a way to get around. In a sense, it actually owns you. It occupies you even when you’re not riding it. It’s part of your life. The company sells a feeling of individualism and freedom. Harley Davidson give consumers much more of a lifestyle than only a product consumption.
How does Harley develop the right relationship with the right customers?
Harley’s marketers get as close to their Harley riders as possible as and communicate with them very personally. They try best to figure out how customers are , how they think and feel and why they buy a Harley. Then they can improve their products and services continuously.
For example: Because of the market of women, Harley Davidson designs bikes that are lower slung and easier for women to ride. For the older buyers, Harley Davidson sell larger motorcycles and enhance safety.
Harley Davidson engages its customer through company-sponsored travel adventures, and other things such as clothes and accessories both for riders and for those who simply like to associate with the brand.
Peter and Donnelly
1. What are some issues that must be considered in the Marketing Plan of a company?
(1)Executive summary and table of contents.
We must give the senior management the main goals and plan’s major thrust. All supporting rationale and operational detail should follow the executive summary.
All the information is used to carry out a SWOT (strengths, weakness, opportunities, threats) analysis.
The product manager defines the mission and marketing and financial objectives.
Financial projections include a sales forecast, an expense forecast, and a break-even analysis.
The marketing plan outlines the controls for monitoring and adjusting implementation of the plan.
2. How does the Marketing Plan at Starbucks continue to evolve over time?
Firstly, they make Starbucks’ market-penetration strategy and helped the company attain a loyal customer base in Seattle.
Secondly, the market-development strategy marked the next phase in Starbucks’ growth: first to other cities in the Pacific Northwest, then throughout North America, and finally, across the globe.
Thirdly, Starbucks sought to increase the number of purchases by existing customers with a...