Marketing paper

Marketing paper

Table of contents

1. Marketing function
2. Analyzing the global market to identify opportunities to gain competitive advantages through marketing activities.
3. Customer relation management
4. Recommending customer’s relationship management practices for maximizing customer satisfaction and loyalty.

• Evaluating feasibility and profitability

1. Assessing the viability and profitability of new products and services within the organization.
2. Marketing strategy
3. Designing a strategic marketing plan for a new product already in the market.
4. Entrepreneur enterprise
5. Identifying the risk and opportunities for entrepreneurs and enterprise

Introduction

Marketing is an organization that sets the process, which creates communication and delivering values to the customers. It helps the managing customers to have a good relationship, which benefits the stakeholders and the entire organization. Companies that engage themselves in global marketing they focus on sources of global market opportunity and challenges.succcesful global marketers express the relationship between values and the marketing combination. This global company maintains its strategic focus as they pursue competition advantages. Value chain, competitive advantages marketing mix, and attention are always universal into their applicability. However, in global companies that fail to pursue in global opportunities. They have a risk of being set aside by the stronger global competitors. Nowadays, worldwide marketing can be seen in the companies ranking compiled by financial times, fortune, wall street journal, and other publications.

In the agricultural sector, it provides essential products for the global market. Most of the products from farming require to be sold so as for the farmers to earn money. Due to this, most of the farmers end up searching for markets from other countries. As my company is much interested in agriculture, .it has come up with two new products from farming. These two products are fruits and vegetables due to the emerging of these new products the company had to start a global marketing.

Since high technology advancement, it is easier to market the product to the international level compared to the earlier days. This method of using technology will be more comfortable as it has reserved big brand names for all types of companies. The technology whereby it uses computers it will help in advertising and pricing the products. The technology will assist the agricultural company in staying informed on current market conditions.it will enable us to be prepared for both potential opportunities and challenges. The second method to be used was to collect data. The data was to be obtained from the foreign market prices. It was to be done through surveys, interviews, and directly conducts with the potential buyers and representatives. The potential buyers they would provide answers to questions about the company’s needs.

Through the introduction of a new product in the market is the only competitive advantage in marketing. First, this will retain all the old customers, and this will lead to an increased rate of the customer’s interests. Today companies in the global markets do not compete on delivery and prices alone. The primary source of competitive advantage occurs when a new product is introduced in the market.

When setting the global marketing, risks are obvious like to occur.one of the dangers is; economic conditions are always unpredictable, and current marketplaces are highly competitive. The company would avoid these risks by using a systematic and well-structured process to categorize the risks. This will assist it to access and diagnose the causes of the dangers .it also enables them to identify the level of predictability more easily. Another chance would be a poor understanding of the customer’s requirement.aslso will lead to insufficient knowledge of product technology and market. The company will avoid this by making a proper communication channel for the customers.

The customer’s relation management system engages its focus on sales. There are advantages to marketing still. The marketers use the customer’s relation management system as their store for their leads also provide the required information to the management. Also, with marketing mechanization, customer relationship management, and business rules can raise marketing movements. The information in this system assists marketers in targeting their sent messages under this system to the required people. This system of communication can be only be found in this system. They still need the system to address the goals of marketing; engagement lead also passed leads passed to sales. Through shared data will assist in aligning sales and marketing efforts. Most of the sellers in the marking have started their own system. Both customer’s relation management and functionally automation works under one marketing procedure. They operate through a chain of command, social marketing, and commerce capabilities. These tools focus on growing business, only looking at main characteristics. Developed enterprise tries to be inside of best of breed approach,

Distribution channels represent a chain of intermediaries on firms through which the final buyer purchase a good or service. These distribution channels involve the retailers, wholesalers, internets, and the distributors. These channels are divided into two forms; direct and indirect. A direct channel allows the customer to purchase from the manufacturer while the indirect channel enables the customer to buy the goods from the retailer or the wholesale. Indirect channels are characterized as by-products that are sold in mortar stores and traditional brick. In general, in the distribution channel, if the intermediaries are more, the prices of the goods increase.short, or direct channel makes the cost for the consumers to below as they get the products directly from the manufacturers.

As a company is ready to enter in the global marketing, it has to consider such factors. One factor to put into consideration is the environment. Environmental factors play a significant role in worldwide marketing. They can either positive and negative effects on the global marketing strategy.as an example, if you manufacture a good that does hold well subjected continuously to periods of high temperatures, you are to consider the environment before the marketing. In this case, fruit and vegetables are mostly in need during the hot periods. This leads to the company to secure much profit from the sale of the products. Also, you should be aware of the natural affected areas by natural disasters such as earthquakes. The floods may wipe away your customers.

Since it is becoming to source products as more economically from other countries, more small businesses, middle size companies have embraced global sourcing. As this leads to cost-saving and a great choice of materials, it requires more intensive logic management. In this situation, the company runs into limitations. Coordinating all the parts of the supply chain becomes more challenging when the supply chain paths are handled globally. Product quality it’s in a risk when you have a global supply chain as you can’t always monitor what is happening in other countries.

Cost-based pricing is one of the significant rising strategies.in this strategy; the customer’s perceptions are to set the prices. In this strategy, the seller’s cost is primarily considered. Value sets the base of the amount that the company can charge. Therefore, cost-based pricing involves setting prices according to the cost of producing selling, and distributing the product.so as to make a profit, a slight rate of return is included to account for the risks and efforts.

When you are launching a new service or a product, you have to find money to fund your efforts. If you had planned ahead, you should have the money you needed. You  examine phases launching and determine the costs that are associated with each stage .it is done so that you can sustain your efforts until the service or the product pays for its self.

To evaluate your customer’s acceptance of the price set for the new products, you have to find out the reactions of the client. Find if the customers are willing to pay what the service or the product, you have to consider the master reason for market research. In the housing market, the researchers have the potential to contribute to the importance of the company. They have to impress the internal clients and get a lot of praise. If they don’t do it well, many things may go wrong since determining the price is far more complicated than being seen. To have a well up business, you are required to bring products and services that will deliver high competition than that was placed before. Before bringing anything to market, you should first, know your competitor and what they have in the market. This may be done through researching through simple means, which are not costly.

Promotions involve the attempt of the marketers to inform or to remind the consumers of their products. Marketers use various strategies to promote the customers. Creating awareness; this one is putting up a sign through either on social platforms and local radios or televisions to develop knowledge of the new business or the products. Giving an attempt for consumers to try the products, sometimes free samples of the products are provided away to the customers to try the new products. Information provision; an informative promotion may be given to explain the ingredients of the products.

Mass media campaigns are most used to promote the new products in global marketing. They include newspapers and other printed materials, radios, television, etc. Mass media has a significant role in informing and delivering a message to the majority of the population. One medium could be more convenient than the other depending on one country. Social media, marketing is a powerful way for the business of all sizes to reach the customers. The customers interact through social media such as Facebook, Twitter, and Instagram.