Marketing: Strategic Innovation in Globally Diverse Markets

4464 words 18 pages
Show More
Praxis II: Marketing in the 21st Century

Marketing: Strategic Innovation in Globally Diverse Markets
December 23, 2012

Abstract
This paper will explore the potential evolution of the role of consumer marketing. I will examine the role of the retailer and the consumer on the Internet and the vital changes retailers must incorporate to stay competitive in the marketplace. In addition, I will discuss the role of personalized marketing, traditional advertising versus online advertising, changes in the marketplace attributable to globalization, the implications of interpersonal communications, and management of the 5Ps.

Personalized Marketing
Personalized marketing (sometimes referred to as one-to-one marketing) is the …show more content…

Retailers need to understand who their customers are, understand their behavior, and execute seamlessly across those channels (Beasty, 2006).
Online retailing is the fastest growing channel in which consumers purchase products. Integrating online retailing with offline retailing comes with numerous problems. The consumer may see a product in the store for one price and see that same item online at a different price. Retailers compete nationally and locally on prices and products. Someone in Florida may not want to purchase the same products as someone in Washington D.C. or you may have a retailer located in California, but the company’s web site can be accessed by anyone that can utilize the web.
According to study by Beasty, (2006), you mainly see this problem when consumer purchasing is based primarily on price. For example, a PlayStation is a PlayStation no matter where you purchase it, but saving $20 makes a big difference to customers. Another example is a few years ago Circuit City gave one price online, another price in their ad, and a different price in the store, all for the same item, without any explanation as to why (para. 6). This leaves the consumer frustrated, confused and a lack of understanding.
Francis, (2007) studies states that one size does not fit all in the Internet retailing

Related

  • Cocacola Strategic Management
    6212 words | 25 pages

    INTRODUCTION A global perspective is a matter of survival for businesses. Strategic management is the process of specifying an organization's objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. The Coca-Cola Company (Coca-Cola) is a leading manufacturer, distributor and marketer of Non-alcoholic beverage concentrates and syrups, in the world. The company owns or licenses more than 400 brands, including diet and light beverages….

    Show More
  • Hr Practice of Unilever Bangladesh
    9688 words | 39 pages

    assigned us to prepare a report on “HR Practices in Bangladesh” as related topic on Human Resource Management course. We have selected our report topic as “HR practices of the Unilever Limited”. After complete our MBA program we will be going to job market and competing with other universities’ graduates for getting a suitable job. For….

    Show More
  • Mg 495 Week 3 Case Study
    4367 words | 18 pages

    product market for over 160 years with virtually 99 percent of all consumer products in households within the United States. However, in order to promote growth and diversity while maintaining a steady profitability rate of 3-5 percent per year, the company has expanded uses of sodium bicarbonate products so that it….

    Show More
  • Dell Computer Corporation – Strategy and Challenges for the 21st Century
    16122 words | 65 pages

    for the 21st Century | | Table of Contents INTRODUCTION 4 1.1PC and Laptops – Cash Cow 6 1.2 Storage Solutions - Cash Cow 6 1.3 Servers and Networking - Cash Cows 7 1.4 Services - Dogs 7 1.5 Peripheral - Dogs...................................................................................................7 2. ANSOFF’S GROWTH MATRIX 8 2.1 Market Penetration ...............................................................................................9 2.2 Market Development….

    Show More
  • Carlsberg's Strategic Analysis
    15968 words | 64 pages

    situation at the Carlsberg Company? * How is Copenhagen beer, as a part of light drinks SBU, performing on the market? * What strategic plan is Carlsberg implementing to reduce the decrease in beer consumption? * What is the current situation at brewery industry? * What are the potential competitors of Carlsberg and how do they influence decision- making in strategic planning? * What are the most significant factors influencing consumer’s behaviour while choosing beer? * How….

    Show More
  • Marketing Management 14th Edition Test Bank Kotler Test Bank
    173938 words | 696 pages

    Marketing Management, 14e (Kotler/Keller) Chapter 1 Defining Marketing for the 21st Century 1) Which of the following statements about marketing is true? A) It is of little importance when products are standardized. B) It can help create jobs in the economy by increasing demand for goods and services. C) It helps to build a loyal customer base but has no impact on a firm's intangible assets. D) It is more important for bigger organizations than smaller ones. E) It is seldom used by nonprofit….

    Show More
  • Education response
    43207 words | 173 pages

    A progress report by the Independent Reviewer on Social Mobility and Child Poverty October 2012 University Challenge: How Higher Education Can Advance Social Mobility A progress report by the Independent Reviewer on Social Mobility and Child Poverty October 2012 University Challenge: How Higher Education Can Advance Social Mobility Contents Foreword and summary 1 Chapter 1 Introduction 11 Chapter 2 Access all areas 19 Chapter 3 Making the grade….

    Show More
  • Management and Study Unit
    41797 words | 168 pages

    Topic 2 relates to managing the supply base, and focuses on purchasing and supply strategy and policies, specifically targeting the strategic sourcing and outsourcing processes. It examines suppliers, particularly the various purchasing and sourcing decisions of suppliers, the performance evaluation and selection of suppliers, supplier certification and the various purchaser/supplier relationships….

    Show More

Popular Essays