Disadvantages Of Big Bottom Market

Course Description This course involves an integrated analysis of the role of marketing within the total organization. Specific attention is given to the analysis of factors affecting consumer behavior, the identification of marketing variables, the development and use of marketing strategies, and the discussion of international marketing issues. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents:   University policies: You must be

DIBB, S. SIMKIN L, L. PRIDE, W.M. and FERELL, O.C. Marketing: Concepts and Strategies. Fourth European ed. Boston: Houghton Mifflin, 2001

How is marketing defined? What is its importance in a company’s success? This paper will discuss and explain different definitions of marketing along with a definition of author himself. In addition, this paper will elucidate the importance of marketing by giving three examples where marketing was adapted with few mistakes resulting in disaster.

Marketing basically involves a series of processes that focus on determining customers' wants and then providing the necessary product to them. This process can also be regarded as the procedure of developing and implementing initiatives that are geared toward identifying, expecting, and satisfying the wants and demands of customers in a way that also generates profits. Marketing not only contains several important principles but it also consists of four major elements that are commonly known as the 4P's. The four main elements of marketing that are also known as the marketing mix are product, pricing, promotion, and place. Through the marketing process, the major goal of all marketers is to establish more value for customers. In order to create such value to customers, there is need for managers to understand the marketing principles that are crucial for effective marketing strategies and practices.

Shareholders want results and returns immediately while management knows it would take strategic planning to take the investment forward, it can lead to an agency cost. The project is a risky venture because it can bring many disagreements between managers and stockholders putting aside the company’s long-term objectives and goals to increase the value. Financial decisions in marketing are to increase sales and demand, therefore it helps to improve return on equity. As said before a market research is necessary for each designated location and to learn about the mass market they are about to enter. Finance helps to fund and implement marketing strategy which is crucial in the future to generate loyal customers, the most profitable customers for a company. The product mix is going to grow in its all four dimensions and would take financial decisions from the marketing managers to see what products are convenient for the customers. Financial decisions in operations deal mainly with the supply chain. To keep customers satisfied is necessary to invest heavily in logistics, technology, and inventory. Finance keeps track of every monetary move made by the company, like paying bills and collecting money generated. In other words, it assists to cut unnecessary operating costs and seek ways to improve the business operations by measuring performance.

I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledge and disclosed in the paper. I have also cited any sources from which I used data, ideas of words, whether quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.

Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.

Strengths/Weaknesses: One of the biggest strengths of opening in-store restaurants is that some percentage of shoppers will remain inside the doors of Target stores for longer periods of time. While that does not necessarily mean they will purchase more bigger ticket items, they may in fact purchase more products that are classified under “impulse buying.” Possible weaknesses/disadvantages include the “give-up” of space that could be used to put more products on the shelves, as well as potential liability issues related to the restaurant business (e.g. customer spilling a drink and someone slipping on the wet floor before it gets cleaned.)

Despit the owners of the resturants wanting to make more profit well so do there servers. Some things they could do would be slighlty raise the price of all foods. Shorten every hours to eight hour shifts, and raise the income to regular non tipped minimum wage an let them recive tips. In the end of the year make it were they dont have to pay taxes on tips.

Organizations must continuously improve their processes and increase efficiency in order to stay afloat in a globalized economy. Fortunately, American businesses can become sustainable organizations capable of competing in a global marketplace, by implementing a variety of cost reduction techniques and making business process improvements to increase operational efficiency.

Marketing is a management function which involves creating, communicating and delivering value for an organisation’s customers (Kotler, Brown, Burton, Deans & Armstrong (2010). Although many earlier academics define marketing as merely a process of satisfying customer needs in order to gain profits, more recent developments of the definition include its inherent connection with delivering superior value to customers in order to maintain ongoing relationships (Webster, 1992).

One of the key operational ingredients to make them successful is their hours of operations. The restaurant is only open from 11a to 2pm and from 5pm to 10pm. This could by far be one of the best strategies for them as it allows them to focus on the lunch and dinner seekers in the neighborhood. These hours of operations make it very easy to find part time employees helping keep payroll and benefits at 15% compared to 26.9% for the average limited menu restaurant. Being a buffet style restaurant and priding themselves on the freshness of their food, the owners have managed to run operations that allow them to reduce waste to mainly what the customers don’t finish eating. This also allows them to keep their

Marketing is perhaps the most important activity in a business because it forms the communication bond between the customers and the company, and it’s a key aspect of communicating the value of the product.

“There are four main elements to our business model – product, distribution, communication and price. Our job is to do such a fantastic job on the first three that people forget all about the fourth.” (Bernard Arnault, CEO of Moët Hennessy-Louis Vuitton. Taken from

Marketing has been defined as “…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” (American Marketing Association, 2004) and “…a total system of business activities designed to plan, price, promote, and distribute want-satisfying products to target markets in order to achieve organizational objectives” (Etzel, Walker, Stanton, Pandit, 2010: 7). Based on these definitions one can assume that Marketing is referred to those actions that firms must take to create value and exchange it with potential customers, and in this regard Marketing plays a strategic role in the organization (Silk, A J, 2006: 3). Marketing research on the other hand is “…needed before a product is introduced to the market and on a regular basis throughout its life. Research is not limited to products; it is conducted to answer questions about potential market segments, entire stores, brand names, advertising, prices, and every other aspect of marketing.” (Etzel, Walker, Stanton, Pandit, 2010: 181)