Experiential Marketing Essay

Competitive advantage - Nundies is an innovative product which provides an alternative to visible panty lines; no other company produces the same type of product

A. Describe the environment, as viewed by Michael Porter’s model of competitive forces, that Valuejet was trying to compete in. consider competition, suppliers, customers, new entrants, substitute products? The five competitive forces that shape strategy are competition, suppliers, customers, new entrants, substitute products. Michael E. Porter demonstrates how the five competitive forces can be used in any industry. The results from all five forces not only look at the narrow aspect of competition rivals but as well as broader aspect of competitive interaction within an industry. These five competitive forces can also be used in the case of Valuejet. Competition within the airline industry is highly

- The type of working environment I see myself in is one with consistency, but also has room for change and flexibility. Consistency is important to me because I like having at least a basic structure to work with. With marketing being my major I know that there are basic structures and concepts people in the field go by, but outside of that allows for the creativity. I like to think of myself as a creative person. As a college student now I am very innovative with the resources that I have available to me. For example I am a very picky eater, so something that I do for lunch when eating at the school cafeteria is that I’ll pack my own salad dressing, Nutella, and plastic container of mandarin oranges for my salads. That may not mean anything to most people but I have gotten remarks like, “Oh, that’s a good idea!” A different example that relates more to “real-life situations” is that if something appears to be broken and I feel I have the potential to fix it, I will do what I can to at least put it in better shape than it was. One time

3. The policy should be changed and this impact AAA to acquire more Wholesalers and grow their profit margin by allowing the label.

Discuss what is meant by the term “customer orientation”. Illustrate with examples how companies demonstrate their customer orientation by reference to at least two elements of the marketing mix.

Top managers develop long-range plans, called strategic plans that define the company's overall mission and goals. Strategic planning focuses more on issues that affect the company's future survival and growth. To develop strategic plan, top managers also need information from outside the company, such as economic forecasts, technology trends, competitive threats, governmental issues and shareholder concerns.

This document represents The i-Fusions Consultant’s Report on BRITA. The company’s current business situation is analysed and various options for action considered. The report aims to identify a clear marketing strategy for Brita in order to address the current issues facing the company the associated falling sales.

Several facts are changing in today’s marketing communications. Owing to the growing numbers of alternative communication media and promotion, marketing communication does not just primarily focus on advertising and promotion. Organizations and entrepreneurs begin moving toward the process of integrated marketing communication (IMC), which has emerged as a new concept and the major communication development in marketing in the 21th century. More and more companies adopt IMC to convey a consistent message about their brand and products to derive competitive advantage and brand value. In addition, IMC has developed into a beneficial strategy for companies to reach more customers as well as build good customer relationships. Smith et al.

As Jobber(2012) was claiming, the marketing concept is "Achieving corporate goals by meeting and exceeding customer needs, better than the competition". Marketing is the process of telling a true story in an unforgettable manner. As a consequence, it became an essential tool in the competitive business environment. The main objective is to maximize the company 's profit by showing up with stunning adverts. Bearing in mind the development of technology, "It is well known that markets grow by the reduction of unit prices: this is how the computer became a household necessity", this could not be possible without a good marketing strategy (Kapferer 2012, p.205).

This economy is unique. It is built on the perception that the customer is the dynamic participant in the search of experiences that will personally amaze and engage them. (Schmitt, 1999). For a business to be successful, goods alone are not enough (B J Pine II & J H Gilmore 1999). Consumers are tired of standardized products and services – they are seeking those that have been specifically designed for them, based on their perceptions. In the context of this economy, the authors propose to abandon the traditional relationship between the company and customers. Instead, the company should be a “director of impressions" and clients: "spectators" or “guests". The Experience Economy” is the playbook from which managers can direct and control performance, based on the concept: The foundation for economic growth stems

Since the 1950’s, the world’s economy has gone through several changes, from an agrarian economy to an industrial economy, then to a service-based economy and then to the experience economy. “The term ‘Experience Economy’ was first introduced by Joseph Pine and James Gilmore in 1999. The concept is that goods and services are no longer enough for consumers – that businesses must create memorable events and experiences that capture their audience and create experiences that transform their brand’s value proposition.” (Frias, 2014) Despite being introduced in 1999, the concept of the Experience Economy has already existed in some extablishments to gain a large and growing customer base. The Hospitality Industry is an example of this. “For example, on July 17th, 1955, the pioneer of the Experience Economy, as Pine calls him, Walt Disney

When looking to add a new product to the market, traditionally five steps occur in marketing research and lead to marketing actions. Of these five steps, step number three covers the collection of marketing data. Marketing data can be collected through either primary research or secondary research. The goal of this assignment is to describe both primary and secondary research, provide examples of each and determine how the author’s organization could benefit from each. The author will begin with a description of primary marketing research.

The Marketing Concept The marketing concept has evolved over the last years, marketing reflects to a key approach to doing business. An organisations objective is to make profit, to do this they have to consider the marketing concept, in order to satisfy customers. For an organisation to be successful should divert its attention away from particular products and towards the interest of the customers. Customers changing their needs and wants influence an organisations strategies and plans. Meeting customer’s needs is the main key in marketing.

I hereby declare that this project is entirely my own work and that any additional sources of information have been duly cited.

This article focuses on how companies could enter emerging experience economy by looking at the experience characteristics and design principles that could help pioneer customer’s experience.