Write 350 Words On The Main Topic And Respond To The Given A

Write 350 Words On The Main Topic And Respond To The Given Article Wi

Write 350 Words On The Main Topic And Respond To The Given Article Wi

Write 350 words on the main topic and respond to the given article with 250 words. 1) Write 350 words with 3 peer-reviewed references in APA format Select one element of the Marketing mix and discuss how marketing research could help that area. Be specific in your recommendations. Please focus on the following points for main topic and response · Be familiar with the various approaches to Marketing Strategy · Be able to create and implement a Strategic Marketing Plan · Have a working knowledge of Product, Place, Price and Promotion Strategies · Understand the relationship between Marketing and other functional areas 2) Respond to 1st article with 250 words We will have various kinds of components having a place with the advertising blend.

To advance the brand of the organization or to advance item into the market, there will be the utilization of strategies. There will be likewise a portion of the activities which will be utilized by the organization and this will be essentially alluded with the end goal of the showcasing blend. This will comprise of 4Ps. In that initial one is only value, the subsequent one is only the item, the third one is only spot, and the fourth one is only the way toward advancing an item. In this, there will be a spot to highlight deals Promotion takes part in a critical function inside the showcasing blend.

Underwriting ought to support different parts of the showcasing blend. Lacking of this support the six remaining over components of the promoting blend would not be completely improved. A segment of the showcasing blend, advancement involves each movement that involves teaming up with the customer in regards to the produced products and its benefits and attributes. Simply the once a business has handled on the things for utilization and charge factors, it is second to build up a conversation with the purchaser with respect to the produced merchandise (krishna,Alexander, Jacob.(2011)). This includes expanding information all through divergent channels to support retailing, notwithstanding produce and care for trademark unwavering quality.

Strong underwriting is a pivotal element of all flourishing business; until now it's a suffering exertion for various associations. Subtleties provided to the customer at this stage encourage them in delivering obtain decisions about the fabricated products. Routinely, there is liberal rate associated with convincing activities (Dash, Mihir, Havaldar, 2011). By and by from when the result is as often as possible enhances in exchanges or customer loyalty, there is thought to be lengthened expression return on this investment funds. There are various determinations that a firm could endeavor to achieve during a support including however not limited to an increase in exchanges, receipt of new made merchandise, brand respectability origination and trademark spotting, talking competitor deeds and updating.

Throughout support, the partnership plans to polarize the buyer's fixation and give them adequate insights about the curios to elevate satisfactory regard for animate them to obtain. Extraordinary business has differing possibilities from their support activities (Jindal, Pranav, 2019). These possibilities are stretched out into intentions which at that point plot the arrangement and usage of these activities. What so consistently promoting action is regularly arranged in light of an exact target observer? The interest is thus shaped by means of correspondences, signs and in succession that they will act because of.

Logically, the preeminent fragment of a couple of influential spending plans is expected at these exact proposed observers. Throughout the special mix, a company tries to achieve two basic aims. One is to figure the buyer cognizant that the fabricated merchandise and business trademark stay alive. The advantageous is to impact them to basically pick this item over every single one and enduring to obtain it. References Jindal, Pranav, Zhu, Ting, Chintagunta, Pradeep, Dhar, Sanjay. (2019).

Promoting Mix Response across Retail Formats: The Role of Shopping Trip Types. Diary of Marketing. . Run, Mihir, Havaldar, Krishna, Alexander, Jacob. (2011). Setting up and Allocating the Marketing Communications Budget in Indian Organizations. Worldwide Journal of Marketing and Business Communication.

82-88. REQUIRED READING Modular Learning Objectives Keep the following objectives in mind as you work through the material in this module: · Define of cost-volume-profit. · Understand the relationship between variable costing and cost-volume-profit analysis. · Apply and analyze break-even. · Compute break-even in units. · Compute break-even in sales. · Analyze target profit. Required Reading Variable and fixed costs were introduced in the prior module. Now it is time to examine cost behavior in more detail by familiarizing yourself with the following while keeping the above six objectives in mind. Click on the three arrows to explore each topic in more detail.

Check Your Understanding Check your understanding to make sure that you have a good grasp of the background material. If you are not comfortable with the concepts, review some of the material again or go to the optional resource for more examples. Click on the quiz icon for an ungraded, 20-question true-or-false self-study quiz to check your progress. If you are not satisfied with the score, review some of the material again. For more in-depth information, review materials listed under optional reading at the bottom of this page.

Final Thoughts Cost-Volume-Profit (CVP) analysis is a computational method that analyzes the effect of sales and product costs on the operating income of a business. Specifically, it assesses the effect of changes in variable costs, fixed costs and selling price on operating income. Break-even analysis (with or without a target profit) is a common CVP approach. Another definition of break-even is where the total contribution margin equals total costs. A contribution margin income statement shows zero income at break-even.

Several assumptions underlie CVP analysis: · All cost can be categorized as variable or fixed. · Sales price per unit, variable cost per unit, and total fixed cost are constant. · Mixed costs must be split into their fixed and variable component by an estimation process. · Understanding the behavior of costs makes cost-volume-profit analysis possible. Optional Reading For further detail refer to Dr. Walther’s accounting text and videos. Walther, L. (2017). Chapter 18: Cost-Volume-Profit and Business Scalability . LICENSES AND ATTRIBUTIONS

Paper For Above instruction

The marketing mix, often summarized as the 4Ps—Product, Price, Place, and Promotion—serves as a foundational framework for developing effective marketing strategies. Among these elements, Price plays a pivotal role that significantly influences consumer behavior and firm profitability. Effective pricing strategies require comprehensive marketing research, which provides valuable insights into customer perceptions, competitors’ pricing, and market demand elasticity. This research enables firms to set prices that optimize revenue without sacrificing customer satisfaction.

Market research in pricing involves analyzing customer willingness to pay through surveys, experiments, and data analytics. For instance, conjoint analysis can reveal how different features influence price sensitivity. Competitive analysis helps identify prevailing market rates, informing pricing adjustments to maintain competitiveness. Additionally, studying price elasticity offers insight into how changes in price affect demand, allowing companies to tailor their pricing strategies for maximum profit (Nagle, Hogan, & Zale, 2016).

Strategic recommendations include adopting dynamic pricing models to respond to real-time market conditions, such as online and retail environments. Conducting regular market research ensures that firms stay aligned with consumer expectations and adapt to shifts in demand. Furthermore, integrating customer segmentation analysis helps customize pricing strategies for different segments, enhancing perceived value and loyalty (Kotler & Keller, 2016).

In conclusion, marketing research is essential for informing pricing strategies within the marketing mix. It equips firms with data-driven insights to optimize pricing, seize competitive opportunities, and enhance profitability. Together with other marketing elements, well-informed pricing decisions strengthen the overall strategic marketing plan and contribute to sustainable business growth.

Response to the Article

The article underscores the critical role of promotion within the marketing mix, emphasizing its function in engaging consumers and reinforcing brand identity. Promotion strategies, such as advertising, personal selling, and sales promotion, are instrumental in communicating a product's benefits and fostering customer loyalty (Krishna, Alexander, & Jacob, 2011). The article rightly notes that promotion must support other elements of the marketing mix; without effective promotion, the impact of product, price, and place strategies may be diminished.

Effective promotion involves coordinated activities that target specific consumer segments through tailored messages. Utilizing multiple channels—digital media, traditional advertising, or direct marketing—helps maximize reach and engagement. The article highlights that promotional efforts should educate consumers about product benefits, which can influence purchase decisions and foster brand loyalty. Additionally, maintaining consistency across channels enhances brand credibility and recognition (Dash, Mihir, & Havaldar, 2011).

From a strategic viewpoint, integrating promotion with other marketing functions encourages a unified brand message, leading to better market positioning. For instance, promotional campaigns aligned with pricing strategies can enhance perceived value and deter competitors. Moreover, ongoing customer engagement through promotions can support long-term customer relationships, essential for sustained revenue growth. The article’s focus on promotion's support role vividly illustrates its importance in achieving marketing objectives and ensuring overall strategic success.

References

• Nagle, T., Hogan, J., & Zale, J. (2016). The strategy and tactics of pricing: A guide to growing more with less. Routledge.
• Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson Education.
• Krishna, A., Alexander, M., & Jacob, J. (2011). Promoting mix response across retail formats: The role of shopping trip types. Journal of Marketing.
• Dash, M., & Havaldar, K. (2011). Setting up and allocating the marketing communications budget in Indian organizations. International Journal of Marketing and Business Communication.
• Walther, L. (2017). Cost-volume-profit and business scalability. In Chapter 18: Cost-Volume-Profit and Business Scalability.