Company Being More Effective Competitors †Myassignmenthelp.Com

Question: Discuss About The Consists Company Being More Effective Competitors? Answer: Introducation The marketing concept holds that the key to achieving its organizational goals (goals of the selling company) consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers.(Kotler 2000). The example of a non-profit organization that I took is the Make-a-Wish foundation that grants the wishes of children with life-threatening diseases such as cancer, leukemia etc. to come true. A lot of other non-profit organizations also ask for donations for children with such diseases but the Make a Wish foundation has an edge over the others. Billabong is a website comprising of a lot of information about surfing, skating and skiing. Videos, articles and images of people wearing billabong merchandise can be seen. Even though the website is filled with content relating to the above, there is comparatively lesser information provided about billabong products. Scarcity of product information on any social platform these days can be a cause of annoyance in the target customer. If a person has to search a lot for the information on a product that he wants and your website is not providing the same, chances are the customer will not come back again to the site any time soon. While the Billabong website does an amazing job at providing tons and tons of information about surfing in the form of articles, videos, blog posts and images, it lacks product description. However, the site can improve the same by making slight changes to the site and targeting the right customers. Nestle is a well known brand across the globe. They provide a wide range of good quality products. The aim is psychographic, demographic as well as behavioral segment of the market. Nestle promotes its products as nutritious, therefore, targeting people who are health-conscious. Nestle has a whole range of baby products that are promoted as having all the vitamins, minerals and nutrition a toddler needs, thus targeting mothers and future moms. An example of targeting psychograph segment is how they promote coffee. Coffee is usually regarded as a rich peoples drink. By providing a quality product at an affordable price to their customers, they influence their lifestyle. Nestle also promotes their brands worldwide, thus targeting geographic segmentation. Geographic segmentation is done using the spatial location to segment the market(Udas 2014). It is a global brand, selling in a number of continents and countries. Nestle will definitely be successful in its brand promotions and campai gns as they are targeting all the segments of the market that a brand can. Having been in the marketing for so many years, Nestle has built a name for itself and its customers know that they get quality products at affordable prices. As with any process of estimation, the process of determining the income distribution by a company in New Zealand will require a lot of research and study of country wide statistics, trends and influences. New Zealands economy has changed a lot over the years and there has been a major increase in the gap in low income households and high income households. The company can begin the process by segregating the income of household into different categories. This will help in determining further the different trends and influences. By segregation of such categories, one can further analyze the increase, decrease or steadiness in the income on an individual as well as household level within the categories. By further analyzing income after taxes levied and disposable income of the households, one can understand the different patterns and trends arising. This also helps in analyzing unemployment trends as well as current job opportunities. There has been a significant shift in the female workforce participation as more and more number of women has started earning. Categorization should be done in all possible manners, based on age, gender, income etc. to truly understand the changes, trends and influences in the income distribution. The Fast Moving Consumer Goods industry covers the household items that you buy when shopping in the supermarket or a pharmacy.(What is FMCG 2015). The first example of FMCG I have chosen is Coca-Cola. Coca-Cola has a segmented approach when it comes to their marketing strategy. Their main target is the age-group of 10-35 years. They are very often seen promoting their brand in collaboration with well-known celebrities. Coca cola also came up with their diet coke which targeted people above the age of 40 and those who prefer less sugar or are diet conscious. The second example of FMCG is Johnson Johnson. This company also has a segmented approach in its marketing as its products mainly deal in baby-care, oral-care and womens health and beauty among others. Gender and age groups are their main targets. Johnson Johnsons Baby Care franchise contributed ~15% of the companys total segment sales for 2016. (Benson 2017). Along with that, Johnson Johnson is a global brand and has grown worldwide in the past years. Their products are sold in over 175 countries and accounted for worldwide sales of $65 billion in 2011.(What is FMCG 2015). The last example of FMCG is Nestle which also uses a segmented approach in marketing itself. It targets a wide variety of customers with varied demographics, belonging to different age groups and having different lifestyles. There has been a major change in the global demographics the past few decades. Demographic trends can be defined as the characteristic changes or newer trends occurring in the human population. According to the recent changes in the global demographics, there is a rise in the number of older people as compared to the youth. By around 2040, there will be more elder citizens than children(Now 2014). This figure will double by the following decade. As the number of elder people increases, industries manufacturing and retailing items that are required by elder people such as medicine and healthcare industry will benefit. This will also indicate an increase in job opportunities for the youth in the scientific research as well as the healthcare sector. People have also moved from rural areas to urban areas and from developing countries to developed countries, mostly because of availability of better opportunities. As the Baby Boom generation heads toward retirement, growth in the nations working-age population will be driven by immigrant(Anthony Cilluffo 2017). Following this shift in the demographics, a rise in the GDP of countries as a whole is expected to be seen. The structure and growth affect the worldwide economy, changing patterns of demand and supply in the marketing industries. Expanding on Activity 1 2 As discussed above, the Make a Wish foundation is now a globally recognized non-profit organization. By applying the marketing concept, the make a Wish foundation grew immensely and came to be recognized internationally. In todays world the customer has immense number of choices. Therefore, it is imperative for any organization to bring something different and unique to the table that the customers may not find elsewhere. This is exactly how the Make a Wish foundation grew manifolds. It needed to let volunteers know that they are the heroes, so more would want to join (Steimer 2017). Granting wishes to children with life threatening illnesses means arranging for experiences involving meet-ups with celebrities and what better way to market a brand than by collaborating with well-known people? Big-name sponsors like Disney, Frito-Lay, 3M and Amtrak soon started lining up to help with those efforts once word started getting out that Make A Wish was conducting a national campaign(Tod 200 7). People donating money to this charity get an inner satisfaction that they contributed to a lifetime experience of a child with a deadly disease. It is evident that the make a Wish foundation applied the marketing concept to develop and promote their brand. The second part of activity 1 talks about The Billabong Company which is an Australian website that has a lot of content relating to skiing, skating and surfing. By visiting their website, one can deduce that providing appropriate information to the target customer is essential in building a brand/business. Thus, one must be aware and analyze the information he/she is putting up on the internet about their brand and determine beforehand if the content is going to be attracting the target customers or driving them away. In this activity, we discussed about market segmentation by Nestle. Brands use market segmentation as a strategy to promote themselves. This helps them to understand consumer behaviors and psychology, which they utilize to better understand their needs and then provide a better product to the customer. Based on their site, the company has a lot of new promotional campaigns going on. These target customers eating habits and aim at providing better products to the consumers, enhancing their lifestyle. On top of it, Nestle regularly introduces trade discounts and various tactics to keep the channel motivated(Bhasin 2017). The company has been in the business for so many years. Over the years, Nestle has learned to segment the market and meet the demands of one and all. Targeting people of all ages, Nestle has products ranging from chocolates, instant noodles and packaged milk to coffee and juices. This is they indulge themselves in demographic segmentation of the market. As mentioned ea rlier, because Nestle has a range of products that are mainly consumed by children, such as chocolates, milk, baby food etc., Nestle promotes itself as a brand that is conscious of the nutritional value of consumer goods they produce. They want to be known as manufacturers of nutritious food, target mothers and parents who want healthy food for their babies. Thus, we can conclude that Nestle uses the market segmentation very well as it has expanded its business globally and continues to flourish. Reference Unsupported source type (InternetSite) for source Placeholder1. 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Steimer, S 2017, The Content Audit that Saved Make-A-Wish, viewed 19 august 2017, https://www.ama.org/events-training/Conferences/Pages/make-a-wish-engages-donors-through-storytelling.aspx. Tod, C 2007, The Make A Wish Foundation attracts donors with first national campaign, viewed 16 August 2017, https://www.dmnews.com/marketing-strategy/the-make-a-wish-foundation-attracts-donors-with-first-national-campaign/article/98416/. Udas, S 2014, Nestle Slim Milk: Segmentation, Targeting and Positioning, viewed 16 August 2017, https://surabhiudas91.wordpress.com/2014/09/26/nestle-slim-milk-segmentation-targeting-and-positioning/. What is FMCG 2015, viewed 17 August 2017, https://jobs.telegraph.co.uk/article/what-is-fmcg/.