Marketing Plan Phase 2

Marketing is essential for every business, be it a small household business or a large multinational group. All businesses depend on marketing in one way or the other. Setting of goals according to entrepreneur’s visions marks the starting o f the plan. It is better to do proper research and documentation before launching a product in the market or else the results will not be according to one’s thinking. Raymond Morose is the owner of Pet Palace and has been running this business for the last 44 years (Manta, 2010). Raymond Morose is running the business with a small staff but is very clear about his goals, as he has set his goals according to SMART approach. SMART stands for specific, measurable, achievable, relevant, and time-based and

This paper will provide in detail researched information regarding marketing plan as it relates to the Mammography Cup. Ideas and information consists of the segmentation criteria, target market, organization buyers and consumers, factors that influence purchasing decisions, and the current competition.

When evaluating Gatorade’s Drive energy drink, the product lifecycle will continue to change as the product reaches different stages in the cycle. As a result, Drive energy drinks will go through an introductory cycle, a growth cycle, a maturity cycle, and then show decline as the product becomes faded by the introduction of competitive products. As a result, Gatorade must continue to alter the company’s marketing mix.

Insurance is as ancient as Babylon. The first policy dates back to 2100 B.C.; specifically, it is the Code of Hammurabi. A loan from a trader made certain his valuable cargo traveled safe from the harm of thieves or storms (Marples). The

The Sono-Stick’s strengths are to replace the current CD-Stereos we have in our vehicles. Rather than a CD player, it would read storable static memory cards, like the ones in cameras and cell phone. Currently consumers are carrying around cables and external speakers because they can 't find the needed connections. The Sono-Stick would solve that problem with its small size and fast data transfer speed. The Sono-Stick’s weaknesses may be the size. It can easily be misplaced.

In order for a company to establish the correct balance between their risk-retention and risk-transfer they must first complete a risk-retention analysis. This analysis allows an organization to establish their maximum level of risk retention. This is accomplished through a combination of the traditional analysis of principles based on investment and decision, along with pricing according to the insurance industry. The results of this analysis show the cost-effectiveness and trade-off of savings on premiums versus the increased risk of a higher retention level. Now that the company has successfully established the basic parameters of being self-insured ,with assistance from their actuary, "an individual that specializes in the measurement and management of risk"(www.soa.org) and their commercial insurance broker; the most cost-effective type of risk retention must be established. Commercial insurance companies often dictate clients that are self-insured as to what type of risk-retention the company will assume. This occurs because once the self-insured clients maximum limits have been reached it is at this point the commercial insurance company assumes responsibility for any remaining amount of a claim. There are several types of strategies of risk-retention that companies can assume when self-insured that fall within the established boundaries of the commercial insurance market. Each self-insured company has its own unique risk-retention capacity specific to their

Insurance is a method for lessening your potential monetary misfortune or hardship. It can take care of the expense of unforeseen occasions, for example, theft, property harm or illness. Insurance can likewise give your friends and family a money related installment upon your death.

One of the most recent policies offered by Prime Insurance is a liability policy that provides coverage for a number of marijuana growers and dispensaries. Prime Insurance is one of the only insurance companies that has been willing to accept and write a policy for this type of risk. Because of the innovative ideas and creative thinking at Prime Insurance they can avoid fighting for customers in the standard market and create new markets where there is no competition. Many companies end up purchasing insurance through Prime because no other carrier will insure their risk. The owner often tells prospective insureds to search the market for a company that will insure their business, when they can’t find someone to insure their risk then come

Insurance is a multi-billion dollar per year business, and a sizable portion of that money is spent convincing you that the insurance company works for your benefit. Catchy slogans and memorable representatives combine with teams of adjusters, agents and claims personnel to portray the notion that they are just waiting to leap to the rescue of customers, if and when they are needed. This is not necessarily the case, especially when you are dealing with someone else’s insurance company after having sustained an injury in some type of accident at work, on someone else’s property or while driving or walking down the street.

The insurance industry is a highly competitive market. The market is shared by individual’s agents and companies both competing for the same customers. In this industry one critical success factor for Allstate Corporation is changing the way it conducts business. The more technical savvy the customers are and the more popular the use of the internet is becoming. This is allowing customers the ability to obtain instant quotes online. The internet is a powerful marketing tool that gives the insurance industry the opportunity to grow and increase revenue by reaching the market completely.

There are over 1.1 million men and woman amateur and pro bodybuilders alone in the United States. The IFBB has competitors age ranges from as young as 16 years to as old as 83 within a range categories for competition, The NutiBullet Pro is a necessary tool to assist the competitors in preparing for competitions fulfilling a need for a quick, convenient and easy way for bodybuilders to create their protein shakes, whey smoothies or one of their required 6 to 7 meals a day.

McDonald’s mission is, “To be our customers’ favorite place and way to eat” (McDonald’s Inc., 2012). Since 1955 McDonald’s have been building a multinational and multicultural international business that satisfies customer’s Worldwide (McDonald’s Inc., 2012). McDonald 's is the leading global food service retailer with more than 64 million people

Reversely, the listed issues can be used to improve the risk control. The risk of unconsciously selling the wrong product to customers is strongly related to the risk of wrong or incomplete information for customers. On the one hand, salesmen do not receive clear instructions or are not properly informed about the products they sell. On the other hand, customers failed to double-check policies they take out. This is due to misleading of salesmen, regardless whether unconsciously or not; individual sales material, which ought to be replaced by official display material of RA; and the total trust into salesmen. This risk is hard to control since it would indirectly suppose that RA’s salesmen are not trustworthy. The impact of occurrence is rather low and its likelihood is medium. RA was dedicated to “selling the right product, to the right client, in the right way” (p.1. case RA Insurance Company). In addition, RA assures its customers of “financial security and peace of mind”(p.1. case RA Insurance Company). However, RA did not fully live up to those promise statements. As mentioned before, salesmen were forced to resell life insurances to

Insurance companies sell services in the form of risk coverage. Therefore, their services are their products.

Looking at the cut-throat competition in the insurance market, it becomes a challenging task to tag your company policies as the run of the mill stuff. After all, today’s consumer is smart enough to make the perfect choice for them.