Marketing Data Marketing data is often used to enhance various aspects of products, including pricing, promotion, development, sales, and related strategies such as promotion and branding. Most organizations often use data such as social media activity, browsing patterns, and purchasing behavior, among other metrics, to understand the market and focus on effective marketing efforts. According to Beesley (2016), marketing data serves as the main core of a successful marketing strategy in any company. Organizations can use marketing data to optimize their brand communication and predict consumer needs, demands, and future behavior. Such data can also be used to develop personalized strategies in order to achieve the highest ROI (return on investment). Marketers often use marketing trends to explore various predictive analytics by analyzing behavioral data of past consumers to predict purchase decisions of future consumers. Marketing decisions on patterns of sale can be made through the application of data to identify various points of failure or conversion. For instance, people who visit the website or click on adverts without making purchases can show a point of failure or conversion. When…
Marketing Distribution Channels Marketing distribution is the process of making available a product or service to the consumer in need of the service or the good. To make available the service or goods, the goods or service provider can either directly or indirectly provide for the service. The manufacturer and the consumer interact directly in a direct distribution channel. The intermediaries, on the other hand, connect the manufacturers and the end-user of a service or a good. A marketing distribution channel is the means or the avenue through which a good or service provider utilizes to ensure that the good or service reaches the customer. Distribution channels comprise of wholesalers, retailers, distributors, the internet as well as the end-user who is the final consumer of the good or service. The internet has emerged as a top distribution channel in marketing, especially by catering to specific topics such as health. Marketing distribution channels are important as they provide the link through which goods and services reach consumers. In most cases, the manufacturer of products and service providers are in one place…
Impacts of Organizational Motivation Strategies on Employee Performance Background In any business entrepreneurship, labor is essential because it is a factor of production, just like land and capital. Employees play a critical role in business organizations; they are involved in hands-on operations in the production of goods and offering services. At the dawn of the industrial revolution, just after World War II, many people that included the baby boomers begun to settle for employment in production industries. Some companies realized that the only way that they could increase production is if the employees were motivated to work more intensively. Since then, employee motivation strategies have significantly evolved; new motivational strategies are still evident. As motivational strategies change with time, business management strategies also change. Some business organizations have not realized that some motivational strategies have little impact on employee motivation, and yet they invest a lot of money and time implementing them. Such businesses must come up with better strategic plans that will help in understanding the necessary changes in employee needs. Some of the requirements cannot be realized…
Company name-Amazon Inc Mission statement: The vision of Amazon is to be the earth’s most customer-centric company to a place where the people come to find out what they want to buy online. Vision statement; The vision statement of the organization is to become the best eCommerce organization in the world. Amazon’s competitors are – Walmart and eBay. Walmart Mission statement: The mission statement of Walmart is to help people around the world to save money and live better. Vision statement: The vision statement of Walmart is to make everyday life easier for busy families. eBay Mission statement: the mission statement of eBay provides a global online marketplace where anyone can trade practically, enabling them to provide economic opportunity. Vision statement: The vision statement of eBay is to become the world’s most favorite destination to discover great value and unique selection. Amazon inc prefers to become the most favorite destination for shoppers across the globe, establishing it as a customer-friendly company. On the contrary, the goal of Walmart and eBay is to become a cost-friendly organization. Moreover, unlike eBay and…
Target Customer and Customer Experience Target Customer IKEA is a European international group that makes and sells out the ready to assemble furniture, homeware, home accessories, some valuable goods, kitchen appliances, food products, and other home services as well (IKEA, 2020). IKEA has a wide target market where the company targets middle-class customers and also fashionable and young people, particularly those who love modern accessories and furniture. The core values of IKEA are to offer quality products at a low price in different forms performing different functions, and that maintain sustainability. The customers of IKEA seek to get their high-quality products/services at a low price. Customer Experience The customers of IKEA have a positive experience throughout the customer journey with the company as they found IKEA as their first choice to shop the furniture because of its modest price offering. The customers find them-selves more convenient and happy to use the services/products of IKEA as the company does their best to make customers happy and satisfied by delivering their service/products in an effective way (Consumer Affairs, 2020). The customers also get a…
Explanatory Factor Analysis and Principal Component Analysis Similarities and differences in the exploratory factor analysis and principal component analysis Many similarities exist between the explanatory factor analysis and principal component analysis. Both tools assume that the measurement scale is interval or ratio level. Also, the explanatory factor analysis and principal component analysis agree that there is a linear relationship between observed variables and normal distribution for every observed variable. In addition, in the two analyses, every pair of observed variables enjoys a bivariate normal distribution. However, the analyses vary in many ways. First, the objective of the principal components analysis is to illuminate the majority of the total variance in as much as possible. In contrast, the goal of the explanatory factor analysis is to illuminate the correlations between the variables. Second, in explanatory factor analysis, the original values are described as linear combinations of the aspects, whereas in principal components analysis, the components are computed as linear combinations of the original variables. Third, the principal components analysis is used to decrease the data into the small number of components,…
Targeting Global Customers Any firm that intends to move its business into the global market must understand the taste and preferences of its target customers. The tastes and preferences of the consumer help the firm produce products that meet the needed of the consumer. A firm gets to understand its target customer by researching on their culture. Consumers’ culture helps the firm understand what kind of products the consumers will buy. A firm also studies on consumer buying behavior. The buying behavior of the consumer helps the firm in deciding what products to sell to the consumer and what rate. A fir also gathers information on the trending products in the global market. Through providing products that are trending, the firm succeeds in targeting its global market. A firm also succeeds in marketing its products on online sights. Firm research on sites that the current consumer visits often and markets their products in those platforms. Through marketing their products online, they reach out to more consumers, and the consumer becomes familiar with the firm products. For a firm to succeed…
Marketing Automation Marketing Automation is the new technology that propels your business into a new era of relationship-based marketing with quantifiable results. Learn how this quote proves to be truthful for your business via this blog. What is Marketing Automation? To keep ahead of your competitors, every digital marketer needs software that helps in simplifying their tasks such as engaging potential customers, fetching new ones, knowing user’s feedback, tracking key metrics- conversion rates and revenues, and so on. Marketing Automation software helps you do all this and more. But for a clear understanding of what it is – Let’s define it first. “Marketing automation is a type of software that enables companies to target customers with automated marketing messages across channels including email, websites, social media, text messages to generate sales lead.” The purpose is to remove the chaos of repetitive tasks and increase the efficiency of workflow. Features of Marketing Automation Software : Enables data analytics of a marketing campaign to drive more user engagement further. AI applications such as chatbots enable you to redirect users to your landing…
Marketing:Starbucks in Africa Question 1 One of the main features of the market is the influx of investment in major cities in South Africa. As such, locating Starbucks in Johannesburg, which is one of the posh cities in the country, has helped in increasing product sales. People from different parts of the continent shop in the city, thus, expanding its market. Secondly, the city infrastructure is also well-developed concerning roads, which have led to an increase in retail business in the region, therefore the number of customers. Question 2 Slow economic growth in South Africa poses a challenge to Starbucks. Its growth rate is characterized by a very minimal range of 0.1%. Nonetheless, the country has been experiencing inflation. The country’s currency has been trading strikes in quite low as compared to the British pound and US Dollar. As such, the consumers have less money to spend on sweeteners traded by Starbucks. Question 3 Due to inflation and slow growth rate in South Africa, Starbucks should use purchase situation analysis in their research (Longbottom, David & Lawson 115). Such will…
Media Analysis on gross violation of social values https://5050campaign.files.wordpress.com/2008/09/turkey-past-campaign.jpg?w=420&h=538 Introduction From antiquity, gender identities have always been subject to society’s constructions. By using various elements, mostly drawn from subjective opinions and ideas, society has defined and redefined gender identities. Some of these ideological identities have been propagated to maintain certain positions in society. Some have been used to demean and degrade certain genders. Over the years, without controversy, the female gender has received the greatest attention, as far as construction is concerned. These identities have made their lives difficult and despondent. Most women have suffered (and they still do) abuse and oppression on account of these constructions. Some have even been put to death on the same grounds. As such, it is unmistakable that the female gender has borne the brunt of gender identity constructions. In this paper, therefore, I will argue that, in the political arena, the societal construction of the female identity has blocked their participation in politics and reduced their democratic representations in parliament. To support my argument, I will draw my shreds of evidence from…