Create a 2 pages page paper that discusses course reveiw. Strategies in Marketing Strategies in Marketing Conflicts’ in production may be due to personalities between workers and managers,if they are not accommodative, production may be slowed, also a case of reduced skills, may lower production that is the engineering department that is concerned with converting raw materials to finished produce and cause termination to the workers, the finance department believes in production of quality products at minimum costs and aim at maximizing their benefits, if this are not met, conflicts automatically arise (Hughes, 1996).
2. Brand is a process that guides markets to promote their products, build their image and personality or help come up with a brand loyalty. The three objectives are, to increase brand loyalty, this targets customer’s interests in the produced product, and can increase customer’s reliability where they are able to purchase the same product over and over.
For branding to be successful, it must assist in promotion, by conducting adverts, personal selling, this works like sales and marketing, they are all done by the use of the brand name. The two mentioned objectives help increase status and prestige of the producer, distributors to the customers and this flourishes the business.
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3. Stages of product lifecycle
Introduction Stage .– a company or business comes up with ways of attracting customers either through adverts or sales and must be committed so as to outdo their competitors. Growth Stage .– this stage targets expansion of sales and pricing with an aim of making profits, with time, the businesses invest more money in the promotion activities to increase the potential of this stage. Maturity Stage .–this is the most competitive time for most products and businesses need to invest in any marketing they undertake. There is need to consider any product modifications or improvements to the production process that might give bring a competitive advantage. Decline Stage .– this stage is inevitable to any type of business and reflects shrinking due to the market becoming saturated or because the consumers are changing to different types of products, but it is possible that companies will make profits by lowering their prices (Mohr, Sengupta & Slater, 2010).
4. Pricing strategies
Bundle pricing common in supermarkets, where promotions are given, if one buys something, they are given another for free. Competition pricing some firms offers a price services that resembles service to what their competitors are offering so as to beat the competition in terms of customers. Skimming pricing a company tends to reduce the price for over 5 years, charging a premium at launch and lowest price near the end of its life cycle. Works like the penetration pricing, where a price is lowered to first attract customers then raises after the market gains stability. Penetration pricing television Satellite Company sets a low price to get subscribers then increases the price as their customer base increases. Premium pricing applies in Harrods, first class airline services, Porsche. the price remains high because the product is quality.
5. An iPad and an apple phone, when the two are compared, the apple tends to have high customer demand and relation because of the key features it has always have for the last few years and it keeps on improving the services to customers like apart from games, face book, it is giving room for siri, where customers are able to communicate freely and listen to audio, mails.
6. Overhead costs do not generate revenues directly, like labor and materials, but are taken to maintain the business operations, examples are, accounting, adverts, interests, rent, repairs, office supplies or tax. They are taken to be fixed costs and act as control. they are not linked to individuals because they occupy largest shares and can burden a company.
7. It incorporates principles of sustainability into each of its .business .decisions, Apple Company when selling the phones. And number two, it supplies .environmentally friendly .products or services that replaces demand for non green products and/or services Satellite Company, tends to modify its produce each year before selling.
8. Customer relationship management refers to the ways in which an organization may use to help keep track of the operations to its customers. The organization can install Dynamics CRM on server running windows, for employees to access and this would help meet the hardware needs, and reduce the environmental footprints, this refers to the idea of moving from one office to the other so as to link with customers. Instead, everything operates under one roof. This in turn allows the organization reduce its costs and produce what is quality to customers (Kostojohn, Johnson & Paulen, 2011). ..
Kostojohn, S., Johnson, M., & Paulen, B. (2011). .CRM fundamentals. Berkeley, Calif.: Apress.
Hughes, A. M. (1996). .The complete database marketer: Second-generation strategies and
techniques for tapping the power of your customer database. Chicago: Irwin Professional
Mohr, J. J., Sengupta, S., & Slater, S. F. (2010). .Marketing of high-technology products and
innovations. Upper Saddle River, NJ: Prentice Hall.