Service Marketing Essay Example | Topics and Well Written Essays - 2500 words - 2

Service Marketing - Essay Example Apart from the consumption part the employment sector is getting a huge boost as many graduates and employable individuals are being recruited in the sector. The salaries are quite impressive and this definitely is improving the economy as a whole. As a matter of fact a few educational institutes have introduced retail management courses which enable the students to get a detailed training in this field. The sector is no longer a matter of buying and selling; it has changed into a thorough research area. Scholars and managers are trying to understand the nuances of this industry and trying to figure out the consumer behavior, the factors affecting the sector, the government regulations, pricing and sales promotions. From the consumers point of view it not only sells their necessities but also provides them a social platform to interact. For some it is the only source of social activity. If we look at the broader spectrum, we will see that the retail industry has crossed the borders and is now part of the global economy. The major retail players have taken full advantage of cross border trades and opening up of economies. This has not only created economies of scale but the marketers can now realign their supply chain management in a global way. They have the advantage of sourcing goods from the developing countries which offer competitive products at a lower cost. In the operations part the sheer volume is making the profits soar high, in spite of price cuts. The advantages apart, there are a few shortcomings which makes retailing not an easy job. When the matter of global trade arises one must understand that the economy, society and political environment of each country will differ. Every country or region has its own economy, which is affected by multiple reasons. It could be political, technological, social or any other external factors. The

BSBMKG501A Evaluate Marketing Opportunities Essay

BSBMKG501A Evaluate Marketing Opportunities - Essay Example In any organization, there are some tangible and intangible assets, which are used as resources, when company is searching and evaluating various opportunities. Basically marketing activity focuses on assessing and satisfying customer needs, with in the organization; management is responsible for establishing these goals. These are certain resources i. e., key people groups, forces outside the organizations, channels, brand values, relationship, partnership, suppliers, buyers etc. apart from physical resources like technology. In search of opportunities skill of the people working with in the organization always play's a crucial role, opportunities lies in best marketing research to know about innovative product requirements its time and cost well in advance and to exploit these requirements. Best marketing research need more strong financial background and personal skills. Shortage and delay in adopting, technologies plays crucial role in searching opportunities. Intangible like bra nd plays major role in exploring opportunities. When a particular brand already exists in the market and it launches some product in the market, needs lesser advertisement and hence needs less cost investment, but if brand is new and it is to be launched, needs more expensive and exhaustive promotional campaign. In present era, where consumer needs are changing continuously and fastly meeting consumer needs and preferences always cost heavily on the company. Firms spend billions of dollars annually in search of new opportunities on marketing and technical research to add to brand value and product improvement. For example, Hot Pockets, especially formulated meat and cheese, microwavable sandwiches and more than 20 varieties have been introduced but in 2002, after Nestle acquire chef America, it has added its marketing muscle to promote the brand, ability to invest in technologies, training to enhance skills of its employees, upgrading the skill of an employee are few of the resource s which could limit the search for the opportunities by the company. In any company search of opportunities needs financial resources, skill of its employees, its brand value, its technologies adoption, its organizational capabilities, and its ability to conduct market research as nearer to actual. Now as a marketing manager, one has been assigned a vital job is that of recognizing the nature of competition, the potential threats competitors may represent and development of opportunities response strategies. Michael Porter (1980) has proposed that competitive threats can be classified into five major steps: The threat of other producer firms already operating within the market sector (Kotler, 2003). The threats of customer moving up stream to also become producers and / or using their purchasing power to dominate terms and condition for purchase. The threat of supplier moving downstream to become a producer or using their control over critical resources to dominate terms and condition of sale. The threat of a substitute entering the market always been seen carefully. Finally the threat for new entrant who was not previously a major player in the market has to be analyzed properly. To avoid head on competition with competitors, Marketing manager has to opt certain initiatives, w hich must be strategic, cross functional and bottom-line oriented. Marketing manager