Business Opportunity Analysis to Solve a Business Problem With the Help of Technology

In the context of global expansion and competition of numerous businesses, effective marketing management is one of the key factors of success, playing an essential role in obtaining competitive advantage. Hence, the success of a company is determined by its ability to identify customers’ needs and offering products and/or services to satisfy them.

In summary, marketing is very important for a business to achieve success. Many businesses have a difficult time in this area. With the stiff competition, businesses struggle to stand out among others. Other companies resort in unethical and unfair schemes just to win the competition. But eventually find themselves in great loss and failure. As businesses all over the world enter into a gigantic marketplace, every business owner is faced with convoluted market competition. Nevertheless, any entrepreneur can be different and become successful in this matter. In every product sold and in every service provided, patience and hard work should take precedence to ensure quality. Products and services should be marketed honestly, planning should not be done with evil

Developing strategies in relation to any application of marketing suggest a marketer’s ability to comprehend and align business practices with the need of the consumer and business simultaneously. Strategies present challenges whether domestic or international markets are the emphasis. The ability to set customary prices, have market presence, encouraging advertisements and publicity, understand the competition, develop accurate communication, a complete SWOT analysis including domestic and international markets, and customizing the target market, present boundless opportunity that consumers appreciate and market recognition. At each stage of

The first decade of the 21st century challenged firms to prosper financially and even survive in the face of an unforgiving economic environment. Marketing is playing key role in addressing those challenges. Finance, operations, accounting, and other business function won’t really matter without sufficient demand for products and services so the firm can make a profit. In other words, there must be a top line for there to be a bottom line. Thus

 ReferencesKerin, R. A., Peterson, R. A. (2013). Strategic marketing problems cases and comments (13th ed.). New Jersey: Pearson Prentice Hall

A company needs to create a series of programs to differentiate their product from those from its competitors and to appropriately price the product to achieve the maximum demand, in order to set up the dynamics of its competitive strategy (David, 2007). The competitive strategy of a company is also expected to offer better products or services to its customers, at a reasonable cost. Due to the mass influence of the external environmental on the customers’ preference, it is vital for the company to develop an available competitive strategy to be able to solve a series of problems, and ultimately to improve the company’s performance. Those problems include: how to differentiate its products or service from competitors, how to create market segments to maximize demands, and how to offer a wider range of products or services to better meet the customers’ needs at more acceptable costs (David, 2007).

Choosing a marketing strategy involves making “decisions about price, channels of distribution, product, communications, and customer relationship management” (Winer & Dhar, 2011, p. 36). In order to develop a marketing strategy, the CEO of MM must know “who the customers are, why they buy, how they make purchasing decisions, where they purchase products, and when they buy” (Winer & Dhar, 2011, p. 126). For quarter 4 of 2012, the CEO decided to use a price optimization strategy, which focus on the target market and

One of the greatest frustrations and opportunities in marketing is change—customers change, competitors change, and even the marketing organization changes. Strategies that are highly successful today will not work

Main Idea: This article discusses the transformations of strategic marketing. Marketing is not what one initially assumes it is, and with the technological changes and innovations coming about, marketing has faced several barriers and future impact.

“Marketing strategies can have a broad impact on the business in terms of instilling a marketing orientation among all those in the firm: the way of thinking or philosophy of the whole organization. However, marketing strategies can alternatively be seen as dealing only with the development of competitive advantages directly associated with the marketing function such as customer loyalty and distribution channel control. In the latter case, the domain is sometimes even further restricted by sole attention to the various element of the marketing mix rather than the more general issues of customer and channel relationships. There are two key

Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.

This 308-page book includes a table of contents, 74 references, an index of words to easily be able to locate specific topics, tables and graphs tracking changes in the marketing environment, and suggested further reading. The book discusses changes in marketing outlets and encourages managers to look at marketing in a new light. It also discusses how these changes have come about and what companies might do to apply this new approach to marketing within their organizations. This text is meant to inform. Unless one has a basic knowledge of marketing, the reading is difficult. The targeted audience is marketing managers looking to update a current marketing program. This book accomplishes its purpose of informing the reader of changes to the world of marketing and how to apply a new approach to a marketing program.

In the world of today, the role of marketing within the business community has increased exponentially. Nowadays' consumers are presented with countless purchase opportunities, numerous providers and various points of value. In order to attract and retain their buyers, economic agents devise and implement a wide array of strategic efforts, including the creation of strong and aggressive marketing campaigns.

Marketing has evolved through a change in production and consumption due to the advent of new technology (Ranchhod, 2004). The development of technology has also driven the globalisation of communication. During this period, consumers are facing a variety of choices (Jackson and Shaw, 2009). Thus, companies need to actively embrace these changing factors to grow their business and succeed in the marketplace.

Marketing cost analysis is another important tool of marketing control. In recent years, business firms all over the world have experienced steep escalations in their marketing and distribution costs. They have found, to their dismay, that increased sales do not necessarily bring them increased profits. Containing marketing and distribution costs has