Assignment #1: Marketing Model
Marketing 506 (Intergrated Mkt Communication)
Oct 23, 2012
1. Develop an argument regarding the significance of marketing to organizational success in the 21st century.
Marketing plays an important role in creating a the solid position in the competitive market.
Organizations are also able to build competitive advantage through effective marketing strategy.
The importance of marketing for the business to be successful is so that firms can make
appropriate strategies to ...view middle of the document...
It has been analyzed that marketing is vital for the prosperity of
the business organizations. Marketing can be done through both wireless means of advertising,
electronic media and print media (Jenster, Hayes & Smith, 2005).
Organizations have to adopt advertising strategies according to its product and services
(Harrison & Lock, 2004). Lets take Coca Cola target the global customers, it made
advertisements and promoting statement by considering their target market of different age
groups. While we have Johnson and Johnson Company that produces the infant specific
products, thus it advertise the product to target and get the attention of mothers, fathers or legal
guardians of children. In addition to this, financial success of the company also depends on the
combined efforts of the financial strategies and marketing efforts. Marketing is also useful in
capturing the large part of market share in international market. Business cannot survive
without the marketing of product and services, as marketing create awareness among
consumers about the features of products. It is very important for every business firm to adopt
marketing in the 21st century.
2. Assume you are charged with establishing a marketing campaign for a product that is in a
mature stage of the product life cycle. Review the 'Marketing and Promotions Process Model'
and decipher which part of the process would be the most difficult for you as a marketing
expert to implant. be sure to provide the rationale for your position as well as how you would
address the difficulties you identified.
In order to introduce new product in the market, business firms have to follow the product
life cycle. Marketer has to make campaign of the product that is in a mature stage of the product
life cycle. Marketing and Promotion Process Model is focused towards introducing the new
product in the market, as it assists the management to plan and develop marketing strategy.
Developing of the marketing program requires an in depth analysis of the overall market
situation. Marketing research is helpful in developing the marketing strategies in regard to
pricing, product, distribution and promotion decision. In order to make the promotion of
product at the maturity stage, marketing planning program development is the difficult task
(Belch, 2008). Organizations have to decide, which type of marketing and promotion activity is
suitable in order to grab the large part of customers. In addition, marketing expert should have
appropriate efficient amount of knowledge about the current trends and culture in the external
environment, so that the advertisement and taglines can be created as per the culture and values
of the target market, which is helpful to create positive impact (Harrison & Lock, 2004).
It is difficult to identify the promotional program at the maturity stage of the...