Table of Contents
Identify and elaborate the market entities from reading materials One and Two.
b) What are the ways Apple used to retrain her customer?
Introduction of Apple Inc.
Friendly employee and friendly environment Apple Store
a)Review L’Oreal’s brand portfolio. What role have target marketing, smart acquisitions, and R&D played in growing those brands?
Research and Development
b)What’s next for L’Oreal on a global level? If you were CEO, how would you sustain the company’s global leadership?
What are some of the things IKEA is doing right to reach consumers in different markets? What else could it be doing?
Introduction, History if IKEA
Taping into global market.
a) Identify and elaborate the market entities from reading materials One and Two. Marketing is the process to fulfill customer’s needs and is about identifying and meeting human and social wants. To cater the customer needs every company does something; “The integrated process by which company interact with customer and build good relationship in order to capture the return value from them. Marketing in other word, a short definition is; “meeting need profitably”. Marketing entities are the fundamentals that marketed and delivered during the process of marketing, Marketers market 10 main types of entities is; good, services, event, experiences, persons, places, properties, organizations, information, and ideas. There are 7 market entities found in reading materials 1 and 2. The first entity is: Goods
The most basic thing which gets marketed is goods. Most of the companies look at mass production and Marketing of goods. Physical good constitute the bulk of most countries’ production and marketing efforts, example of market entity, such as Industrial Chemicals, machine, watches and other mainstays of a modern economy. Services
As economics advance, a growing proportion of their activities focus on the production of services. It can be related to hotels, air lines, maintenance and repair, accountants, bankers and all others professional services. Sometimes some large corporation hire management and business consultant with high pay as one of the marketing effort. Many market offerings mix goods and services, and this two entities have very close link together. Example of mix goods and services is Dell Inc. They offer laptop maintenance services after purchasing their product. Events
Marketers promote time-based event because the marketing of event is now fetching a good amount of profit in terms of brand to the companies. Example of events such as major trade shows, artistic performances, and company anniversaries. Sometimes, some global event promote aggressively to both companies and fans.
Most of the firms are looking to build themselves as a Corporate Identity in terms of branding and Image. They are marketing themselves in such a way to build reputed public image. The purpose of doing this is that to sustain long term in competitive market and also to create a unique image in the minds of their target publics. Ideas
Every market offering includes a basic idea. Products and services are platforms for delivering some idea or benefit. Most of the marketing ideas come in the form of advertisement. Sometimes this marketing ideas can be slogan that come together with the company logo. Properties
Properties can be either financial or real assets. Properties can be both tangible and intangible to the company. Financial properties such as bonds and stocks and real estate properties such as land, this properties are intangible rights of ownerships and can be trade. While these trade require marketing, for both individual or institutional. Information
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* P. Kotler, S.W.Ang and S.M L, 1999. Marketing Management an Asian Perspective 2nd ed: Singapore: Prentice Hall
* Kotler Keller 2012, Marketing management 14ed,Pearson Education Ltd, England.
* KOTLER, P & KELLER, KL, 2011, Marketing Management, 14th edn, Prentice Hall, Ney Jersey
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