New Marketing Realities in Business-Free-Samples for Students

Questions: 1.Consider the three key forces driving the new marketing realities. How are they likely to change in the future? What other major trends or forces might affect marketing? 2.What brands and products do you feel successfully speak to you and effectively target your age group? Why? Which ones do not? What could they do better? Answers: New Marketing Realities The products and services are purchased from the market by the consumers. The new market realities can be discussed by taking into consideration the three key factors: Technology Marketing is one of the essential parts of the business. If proper marketing is not considered by the company, then it can be difficult to survive in the competitive environment. Latest technology helps the company to conduct the activities in an efficient and effective manner, so that the organization can easily attain the goals and objectives. Technology has given enhancement in the working pattern of the individuals. The latest technology helps the organization to enhance the productivity level and also the profitability of the business. If the company gives focus on new technology, then the positive impact can be attained in the business. It assists the organization in the field of transportation and also promotes the products and services in the market. Competition Competition is also considered as important new marketing realities in the business. The competition level is enhancing day by day, so it is essential that the company should give focus on promoting the products and services by taking into consideration new marketing strategies. There are many companies that face a high level of competition in the market. It is seen that the competition level gives direct impact on the sales of the company. To survive in the competitive environment it is seen that the company can attain goals and objectives by having proper marketing strategies. To minimize the competition level it is essential to have a proper understanding of the strategies so that the activities of the organization can be smoothly conducted (Sivakumar and Shyamala, 2017). Globalization Globalization is also considered as one of the new marketing realities that have given an increase in the profits of the organization. It is concerned with the change that takes place worldwide and also it is evaluated that the consumers are attracted towards the online shopping they purchase the items through online nowadays (Vibhuti and Pandey, 2014). Change in future Technology Technology will make the process easy for the organization to purchase the items by sitting anywhere. It is seen that latest technology helps the organization to promote the goods and services in an effective manner. It is the companies face the issue related to communication with the customers. By adopting latest technology the company can easily communicate in a proper manner. Technology brings drastic change and makes the activities easily to be conducted for the organization. Competition Competition brings change in the marketing strategies of the company. If the marketing strategies of the company are not effective, then it can give negative impact on the overall performance of the company. So by having a high level of competition in the market, it can bring a change in the activities of the company (Sheth and Sisodia, 2015). Globalization Globalization assists the companies to increase its marketing and also to accomplish the profitability. By having latest technology the company can easily conduct the activities on the international level. Globalization brings change in promoting the products and services in the market. The company can only attain the satisfaction level when the products are promoted in the international market (Baker, 2014). Forces that affect marketing Competition Marketing is important so that the company can compete in the competitive environment. By taking into consideration latest technology it helps to satisfy the needs and wants of the consumers. With the latest technology company can promote the products through advertisements. Like Cadbury promote its variety of chocolates by taking into consideration attractive taglines and slogans that attracts the interest customers towards the products. To compete with other companies and also to enhance the sale it is important to consider proper marketing strategies so that the objectives and goals can be accomplished. If the business has many competitors in the company then also the effect is seen on marketing (Schap et al., 2014). Economic Factors By taking into consideration current economy it is analyzed that it can give direct impact on marketing, as it is concerned with the spending pattern of the customers. There are four stages in the economic cycle like prosperity, recession and also recovery. The consumers spend more at the time of propensity stage and then the depression stage is taken into consideration (Hunt, 2014). Social Cultural Factors There are many changes in the social-cultural environment and it directly gives impact on marketing, if the marketers are not prepared. It is considered as a relationship between the culture and marketing. The examples of social-cultural factors are a rise in the consumer activism and also enhancement in the use of social media (Solomon, 2014). 2.The brands and products are Maggi and Apple I phone. It directly targets the people who belong from the age of 15 to 45. It is seen that products like Maggi and Apple I Phone satisfy the needs and wants of the consumers. It directly gives a positive impact on the profitability and sales of the consumers. The age group that is taken into consideration is from 15 to 45. Due to the taste and quality, the products have attained success in a proper manner. Quality and taste are only the factors that induce customers to avail the services and products in an effective manner. First, the discussion should be made on the Maggi product. It is loved by every age group and t is one of the successful product that is in the demand between the all the age group people. Due to the taste people are so much attracted towards the product that they like to eat at any time. Also, the marketing of the product is done in an effective manner that induces customers to purchase the item. There are many flavors introduced by the company so that the satisfaction level of the consumers can be enhanced in an effective manner. The marketing strategies help the company to promote the product in the market (Chaffey and Ellis-Chadwick, 2016). Next is Apple I Phone it is also one the successful brand among the people of the age 20 to 50. By purchasing the item people feel satisfies and they also think that it gives direct impact on the personality of an individual. The price of Apple I phone is high, and then also the consumers are attracted and wait for the new launch of the model. The company introduces new models and all the models are successful in the market and customers are attracted by the brand name only. It is seen that by having high demand in the market, the company can easily enhance the profitability and can accomplish the goals and objectives (Pandey and Puntambekar, 2016). The company gives emphasis on targeting the teenagers and also the company has changed the mindset of the people. The promotional strategies that are considered by the company are so attractive that it induces customers to buy the products and services of Apple Company. The company gives focus on the teenagers, as it can be easy to enhance the sale of them. If the company give particular focus on the target then it can be easy to accomplish the goals and objectives of the organization. It is seen that to enhance the sale of the product the company should give emphasis on a particular group of the segment so that the image can also be maintained in the market (Arndt and Ewe, 2017). The products of Nike and Puma like shoes or the clothes are not so successful between the age group of the people on which the focus is given. It is seen that they target the teenagers but they are not in the position to purchase the item on their own. The products are costly so they purchase it for one time but in the second time they give a second thought to purchase the products. (Lusch and Vargo, 2014).The company should give focus on reducing the cost of the product so that it can be availed or purchased by the consumers. The company can also take into consideration attractive strategies so that customer gets attracted towards the products offered by the organization. To make the product successful the main focus should be given on reducing the cost of the products or the emphasis should be given to introducing the offers in the market. The target of the company is on the teenagers and on the business class people. But For teenagers, it can be not possible to purchase the items (Hollensen, 2015). So, to be successful in the market the company should consider proper marketing strategies so that the products and services can be availed. In the competitive environment, it is important to consider proper strategies to promote the products and services in the market. If the company wants to promote the products then the emphasis should be on cost and also on the giving advertisements in the newspaper or in magazines. Like Maggi introduce a variety of flavors by taking into consideration the needs and wants of the consumers. If needs and wants are not analyzed then it can give negative impact on the company. References Arndt, H.K. and Ewe, C., 2017. Analysis of Product Lifecycle Data to Determine the Environmental Impact of the Apple iPhone. InAdvances and New Trends in Environmental Informatics(pp. 3-13). Springer International Publishing. Baker, M.J., 2014.Marketing strategy and management. Palgrave Macmillan. Chaffey, D. and Ellis-Chadwick, F., 2016.Digital marketing. Pearson. Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education. Hunt, S.D., 2014.Marketing theory: foundations, controversy, strategy, and resource-advantage theory. Routledge. Lusch, R.F. and Vargo, S.L., 2014.The service-dominant logic of marketing: Dialog, debate, and directions. Routledge. Pandey, M. and Puntambekar, G.L., 2016. Maggi Noodles Sales Trend: Before and After Controversy.International Journal of Multidisciplinary Approach Studies,3(3). Schap, T.E., Zhu, F., Delp, E.J. and Boushey, C.J., 2014. Merging dietary assessment with the adolescent lifestyle.Journal of human nutrition and dietetics,27(s1), pp.82-88. Sheth, J.N. and Sisodia, R.S., 2015.Does marketing need reform?: Fresh perspectives on the future. Routledge. Sivakumar, A. and Shyamala, M.S., 2017. Brand image of Maggi noodles before and after re-launch with special reference.IJAR,3(3), pp.346-350. Solomon, M.R., 2014.Consumer behavior: Buying, having, and being(Vol. 10). Upper Saddle River, NJ: Prentice Hall. Vibhuti, A.K.T. and Pandey, V., 2014. A case study on consumer buying behavior towards selected FMCG products.International journal of scientific research and management,2(8), pp.1168-1182