Marketing Management

Answer 1

In the present era of globalisation, it is very important for the organisation to analyse the departmental activities and data coordinator to conduct core business processes. Successful firms not only see how all departments perform but also see the activities that are undertaken by departments. Four core business processes are comprises of

1. Concept to product,

2. Market to the consumer,

3. Order to cash

4. Demand to supply.

These four processes are needed to be considered by the organisation as it enhances the productivity and performance of the organisation. Concept to product refers to the differences in the understanding and dynamics of the product best quality of services that covers maximum features in the product and satisfies the needs of the customer (Brown 2019). It is important to know the target audience of the organisation and then look into the product concept before marketing any product towards the audience. Market to consumer refers to the understanding of purchaser needs and responding to the market pressures.

It also increases the interaction with customers along with digital innovation cycle. This can be done by conducting market research through the use of methodologies. Surveys are conducted in order to know the choices and preferences of the customers. Order to cash refers to the process that involves setting up business operations for receiving and processing consumer sales. The recent concept in the business which involves pre-sales process marketing etc is the ERP system software variants of order to cash procedure.

Demand to supply is the amount of material that is needed to fulfil the needs of the customer within a wide range of products. This is very important for the organisation to deliver the proper amount of products to the customer within wide range so that they can choose the particular options that fit into their requirements (Sangalang et al. 2017). These are the four business processes that need to be considered by the organisation to accomplish all the predefined goals of the organisation.

Answer 2

Qualitative research is one of the most powerful research tools which gives a full insightful and descriptive data rather than predictive data. Qualitative research helps the organisation to know the preferences and the choices of the customers. It gives a clear picture of the customer behaviour and choices which is important for the organisation to fulfil their needs and demands. There are various methods through which qualitative research is conducted such interviews and various focuses groups. It important for the organisations to conduct many marketing tasks such as planning, marketing, SWOT analysis, branding, pricing etc. Qualitative research is very valuable for the development of the product and upcoming market strategies for the organisation (Ramadhani and Mahendrawathi 2019).

Insightful information is gathered through this mode of research and this is done by taking one to one interviews, focus groups, ethnographic research, record keeping etc. There are various disadvantages and limitations of qualitative research as the technique through which data is collected has their observation and can subtly alter the information. It is a very time-consuming process and the interpretations are minimum. It takes several weeks or months to collect the data and sometimes focus groups lead the discussion on the deviated path.

This research is not verified because the resources are open-ended and the respondents have more control over the content of the data gathered (Sangalang et al. 2017). Therefore, this data is not analysed through any proper method and judgement and opinion is considered as the final result. It is considered as the perspective based approach. However, this research is very important to know present choices of the customer through face-to-face interaction which gives more insightful information. This method is highly used by the organisation for market research.

Answer 3

In the present era of globalisation, the choices and preferences of the customers are changing very fast and the purchasing behaviour of the customer is also changing. Now everything is speeding up and the organisation needs to match that speed and put on different strategies that meet the customer needs and demands (McLaughli 2016). The online presence of the companies is the most effective approach that maintains interaction between the customer and the organisation. It is represented that in 2020 consumers will be very demanding as well as concern about the product quality. Organisation uses different strategies on online platforms to connect properly with the customers and resolve their queries in a minimum amount of time.

Brands started making fan pages; Facebook account set c and share the content of the organisation and engage customers (Sangalang et al. 2017). Strategies embraced by the customers and the customer started following many brand pages. However, this strategy is not acceptable after some time as most of the consumer wants to passively follow branch and only want to interact with new brands. Now the consumer became the part-time marketers and they understand the marketing style of the organisation and expect the brand to be honest.

The full attention of the organisation is demanded from the customer and quick action from the organisation is needed in case of query or issue. The answer should be fast, personal and offer a proper solution to the problem. These changes are due to the evolution of the mobile phone in which everything is embedded. Various online platforms are present today which makes the customer compare the price and every feature while shopping (Hampson 2018). Each and everything is done through mobile phones. In upcoming years, the only thing that anyone needs is the smartphone. It is becoming the basic need and indeed it is. Present customer is becoming very active and fast while conducting any shopping or investing in anything.

Answer 4

In terms of family categorisation, it is very important for the organisation to know the consumer buying behaviour in family members. Organisation categorises family into segments that are age and gender. These groups highly impact the buying behaviour of the customers. Organisations must be well aware of the gender which they are targeting for the product. If the organisation is targeting a specific gender then the organisation focuses on the age of the particular group. The gender is categorised into male and female and organisation make their mind clear about the gender segmentation while targeting any audience. Therefore, it is important for this organisation to attract and fascinate a particular segment of the audience before making the products.

The next is the age segmentation in the family. Organisation segments the family based on age such as infant, youth and older ones (Roper and Users’Manual 2020). The organisation needs to cover a particular age section of the audience before launching or preparing any product. The organisation needs to choose a particular age people to target them and sell their products and services. After selecting the particular age of the customers then the organisation needs to make a strategy that fulfils the needs and requirements of the particular age peoples. Next to make implement the strategies that fulfil the needs and requirements of the customers. Therefore any organisation needs to focus on family categories on buying behaviour which impact the performance and productivity of the organisation. Gender and each is the two main family categories need to be a focus by the organisation (Sangalang et al. 2017). These two categorisations have a high impact on the buying behaviour of the customers.

Answer 5

Part A

Tesla is one of the most recognised companies in the world. The latest marketing strategy adopted buy Tesla resulted in becoming the household names. The message state is entirely different from the traditional approach of print social and video advertising that most companies employ. The organisation focuses on word of mouth advertising and referrals (Roper and Users’Manual 2020). The organisation spends much less than its competitors on marketing and advertising. The organisation had a $0 social advertising budget. The marketing strategy adopted by Tesla that is the successful launch of Elon Musk Falcon Heavy rocket which is for his private space flight company SpaceX. The performance was being watched across the world for everyone to see this SpaceX which make them zero investment in social marketing platforms.

Part B

The target audience is the people who can invest in premium products. Segmentation of customers is based on geographic, demographic, behavioural and psychographic segmentation is conducted by the tesla(Aaij et al. 2016). The geographic segmentation acquired people of North America Asia and Europe while the demographic segmentation belongs to people of age 30-65. The organisation target audience which can easily invest in the premium products of the organisation.

Part C

The growth of the organisation is crystal clear in the path of success and advancement. The organisation sale is growing immensely and widely accepted in the world. The organisation in the leading part of manufacturing electric cars which acquired immense support from the customers. The organisation highly acquired the leading position in the market and innovative product producer (Roper and Users’Manual 2020). Due to the innovation and modernized thoughts of Elon Musk, the organisation will achieve immense heights and development in the market. However, there are various on-going projects in the organisation which are already in highlights in worldwide.

References for Marketing Management

Aaij, R., Amato, S., Anderlini, L., Benson, S., Cattaneo, M., Clemencic, M., Couturier, B., Frank, M., Gligorov, V.V., Head, T. And Jones, C., 2016. Tesla: an application for real-time data analysis in High Energy Physics. Computer Physics Communications, 208, pp.35-42.

Brown, P.J., 2019. Exploring information literacy in the context of the attention economy: a heuristic-based framework for attitude certainty. In Proceedings of the International Annual Conference of the American Society for Engineering Management. (pp. 1-10). American Society for Engineering Management (ASEM).

Hampson, D.P., Grimes, A., Banister, E. And mcgoldrick, P.J., 2018. A typology of consumers based on money attitudes after major recession. Journal of Business Research, 91, pp.159-168.

Mclaughlin, C., 2016. Source Credibility and Consumers' Responses to Marketer Involvement in Facebook Brand Communities: What Causes Consumers to Engage?. Journal of Interactive Advertising, 16(2), pp.101-116.

Ramadhani, F. And Mahendrawathi, E.R., 2019. A Conceptual Model for the Use of Social Software in Business Process Management and Knowledge Management. Procedia Computer Science, 161, pp.1131-1138.

Roper, L.D. and Users’Manual, T.M.Y., 2020. Tesla Model Y.

Suardi, W. And Yusuf, S., 2017. Program Sertifikasi dan Komitmen Guru: Aplikasi Regression Discontinuity Design (RDD). Jurnal Ekubis, 1(2), pp.1-18.

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