19-06-2017, 08:06 PM
Hi I need a marketing management project on sunglasses.. I am in grade 12
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Marketing Management project
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Hi I need a marketing management project on sunglasses.. I am in grade 12
27-06-2017, 11:46 AM
Marketing management is the organizational discipline that focuses on the practical application of marketing orientation, techniques and methods within companies and organizations and in the management of a company's marketing resources and activities.
The marketing direction uses tools of economics and competitive strategy to analyze the context of the industry in which the company operates. These include Porter's five forces, strategic competitor group analysis, value chain analysis, and others. Depending on the industry, the regulatory context may also be important to examine in detail.
In competition analysis, vendors build detailed profiles of each competitor in the market, focusing on their relative competitive strengths and weaknesses through the SWOT analysis. Marketing managers will examine each competitor's cost structure, sources of benefits, resources and competencies, competitive positioning and product differentiation, degree of vertical integration, historical responses to industry development, and other factors .
When a business is conducting a brand audit, the goal is to discover the strengths of business resources, gaps, best market opportunities, external threats, future profitability and competitive position compared to existing competitors. A brand audit establishes the strategic elements needed to improve brand positioning and competitive capabilities within the industry. Once a brand is audited, any business that ends up with a solid financial performance and position in the market is more likely than not to have a brand strategy properly conceived and executed effectively.
A brand audit examines whether a business's market share is increasing, decreasing or stable. It determines whether the company's profit margin is improving, decreasing, and how much it is compared to the profit margin of established competitors. In addition, a brand audit investigates trends in the net profits of a company, the performance of existing investments and their established economic value. Determine whether the financial strength and credit rating of the business are improving or worsening. This type of audit also assesses the image and reputation of a business with its customers. In addition, a brand audit seeks to determine whether a business is perceived as a technology leader, offering product or service innovations, along with exceptional customer service, among other relevant issues that customers use to decide on a preferred brand.
A brand audit usually focuses on the strengths and capabilities of a business because they are the elements that improve its competitiveness. The competitive strengths of a company can exist in several ways. Some of these forms include expert or relevant experience, valuable physical assets, valuable human assets, valuable assets of the organization, valuable intangible assets, competitive capabilities, achievements and attributes that position the business in a competitive advantage and alliances or cooperative enterprises.
The basic concept of a brand audit is to determine whether the resources of a business are competitive assets or competitive liabilities. This type of audit seeks to ensure that a company maintains distinctive competence that allows it to build and reinforce its competitive advantage. What is more, a successful brand audit seeks to establish what a company capitalizes on at best, its level of experience, strengths of resources and stronger competitive capabilities, with the aim of identifying the position of a company and the Future performance.
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