Efficient business, Ben Sherman Company, marketing
Marketing process is an act of carrying out analysis on marketing opportunities, choosing target markets, nurturing the mix of marketing and managing the effort of marketing. Potential customers are usually at the centre of the process of marketing. The process of marketing is composed of the following processes: selecting the target markets, managing the mix of marketing, analysing the opportunities of marketing and managing the marketing effort.
Marketing audit is a detailed, independent, systematic and regular scrutiny of the firm's environment, goals, activities and strategies to determine areas that show potential opportunities and the one likely to exhibit problems. The overall aim of market auditing is to give a recommendation of a plan of action to better the marketing performance of the company. The plan should cover all major components of marketing. The implementers of the plan should not limit themselves to just troubleshooting of problems. For the market auditing to be effective, it should be done by an external party who has a vast experience.
Marketing integration is a series of actions which convert marketing plan into action. This is done with the objective of trying to realize strategic marketing goals. The process of marketing integration tries to address the questions of who,''when,''where' and how.' Actualization of the process would determine whether a company would succeed in its operation or not. Successful integration would mainly depend on the program action that attracts all of the activities and individuals together.
[...] In the year 2007, the theme for the product was 'This Sporting Life' and the marketing theme was 'British music and style.' Concerning price mix, Ben Sherman has to gauge which markets its products are geared to and fix a price to match. There are several pricing strategies that a company can apply for its products, for example, cost grounded pricing where the marketing price is fixed to cater the manufacturing cost and market-based pricing. Ben Sherman yields mostly medium-price array products 5.2 -MARKETING TECHNIQUES There exist a major difference between marketing to the consumer and marketing to business. This is because purchase by a business is premised more on logic. [...]
[...] Chicago: University of Chicago Press Print. Miller, Richard, and Pieter S. K. Jong. Multinational Direct business Marketing: The Methods and the Markets. New York: McGraw-Hill Print. [...]
[...] This explains why many companies are dedicating a considerable percentage of their budget towards marketing. References Everett, Robert F. The Entrepreneur's business Guide to Marketing. Westport, Conn: Praeger Internet resource. Christopher, Martin, and Helen Peck. Marketing Logistics. Amsterdam: Butterworth/Heinemann Print. Kotler, Philip. Ten Deadly Marketing Sins: Signs and Solutions. Hoboken, N.J: Wiley Internet resource. Wittman, Donald A. The Myth of political Democratic Failure: Why Political Institutions Are Efficient. [...]
[...] Any change in the marketing intermediaries would make a firm readjust its marketing strategies. Ben Sherman has adopted an effective way of distributing its products through shipping, road and air. Competitors can also affect how a company market its products. For a firm to remain relevant in a competitive market, its management must have adequate knowledge of the operations of its main competitors. This knowledge would guide the company in deciding which marketing strategy to adopt. For example, Ben Sherman Company has a research team which gathers information regarding its main competitors. [...]
[...] As part of the marketing process, companies usually conduct SWOT analysis. They do this with the aim of prioritizing and evaluating opportunities, strengths, threats and weaknesses. The analysis helps the managers of the firm to know the resources they can depend on and the probable difficulties they could encounter. Weaknesses and strengths are internal factors which an organization is capable of controlling. For example, a nice image of the firm. Threats and opportunities emanate from an external environment, for example, a new payroll tax MARKET ORIENTED APPROACH FOR BEN SHERMAN COMPANY Marketing objective is another component of process marketing. [...]
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