A Report on Marketing Management

Table of Content
Topics Introduction Executive summery Literary review Key theoretical issues Observation of the key elements Key critical observations Conclusion Executive summary on group endeavors Listing of the action points References and Bibliography Page No. 3 4 5 6-10 11-13 14-16 17 18 19 20

1.0 Introduction
Marketing management is the application of the firms marketing strategy and review of the firms monetary funds and activities. Application of marketing management is highly dependent on the size of the firm, its activities and operating policies. Marketing management ensures the effective use of firms recourses to increase the customer base, customer loyalty and make the customer permanent one where the customer advocates the product. The concept of marketing management is also deals with selecting a proper target market, making market segmentation and positions the product in the mind of the customers. It actually implies to the effective operation of a business for fruitful marketing. Firms with good financial resources take the strategy of above the line promotion for marketing the product where the product gets the maximum media coverage. Firms can also use concept of selecting an opinion leader and sponsor events as a promotional strategy. As internet is widely available nowadays the concept of vital marketing is emerging where the profit of the firm gets maximized.

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Executive summery
1.1 HI TEC a sports shoe manufacturing company is developing a new product and applies different approaches for the promotion of the product. The different marketing strategies are positioning, segmentation, unique value proposition, above the line promotion, below the line promotion and Liquid mountaineering. 1.2 We show a real life example of HI TEC Company to apply these different marketing concepts. The application of the marketing strategy in real life is known as marketing management 1.3 Marketing management is actually discussed throughout the report 1.4 Positioning the product in respect to its unique value proposition is the key of success in the todays business world. By the policy a company can differentiate itself from others. Market segmentation is the segmenting a market by using the input from marketing research about customers demand. Most of the companies follow a marketing process to serve the product to the customer. Marketing mix is related with the product price, place, and promotion related with the product. 1.5 Customers after observing some circumstances decide to purchase the product. In case of above the production strategy huge recourse is needed and the responses are quite certain from the customers. In case of below the production less resource is needed but the customer responses are not certain. Now-a-days internet is highly used for marketing the product. 1.6 Brand is the presentation of the specific quality of a product. Branding creates particular image in the mind of the customers. By using unique selling proposition one can market its product. Above the line production has some advantages over others but it needs much money. In case of Liquid Mountaineering internet is widely used 1.7 Brand identity is the basement of other strategy. It can increase profit and can also reduce cost. For setting value proposition business have to have the knowledge about target market. For vital marketing a firm should have a web site of its own.

3.0 Literary review

In a report titled, E-marketing and e-mail distribution by Aj. LerluckBoonlamp (2008) explain different issues relating to e-marketing and e-distribution. In the report, e-marketing advantages, process of online customer segmentation, six-sigma are discussed. The ways of getting the support of the online marketing is discussed in brief in the article. Using some e- marketing software is discussed in the article. The paper concludes newsgroup, discussion group and chat room can be used for marketing. In a report titled, Marketing of Library and Information Services by Dinesh K. Gupta explained that marketing is also applicable in information liability. It shows marketing to be related with the whole organization structure. Marketing as a liability service is explained to bear the responsibility for the execution of all activities. Actually marketing is getting developed all over the world and in this paper these emerging issues are discussed. In a report titled What Really is Retention Marketing by iMakenews (2004) explains the strategies for the retention of the customers. In the paper creating long term relationship is encouraged for the betterment of the organization. Online marketing has become a vital issue in the situation. The psychology of the customer is also emphasized in the report. Some new technologies are also discussed in the report.

4.0 Key theoretical issues covered in the case

Positioning means how the customers would feel when they think about the product. Actually it is the position of the product in the mind of the customers. In todays marketplace there are different kinds of competitors of a product. In the era of competition, how a particular product takes place the imagination of the customers is positioning. For better positioning generally business creates a distinctive marketplace. It is the way by which a business can differentiate its product from competitors to get competitive advantage. Actually business tries to aggregate the unique features and attributes of a product in a single brand image. HI TECS in the process of new product development gives a slogan like- inspired by life, happy holiday feet, and feet fell free for position their product. Market segmentation is the process of segregating a market in accordance with the need of the related segments. Business usually segments the market for better providing the product in the area where it is demanded. HI TEC has 500 styles in the market. The business firm segments the market by using different bases like- price of the product, quality of the product and so on. HI TECS market segmentation according to product and shown is as follows:

Junior market
Street shoe Atticing by price

Outdoor sports
Water repellant quality Peretration pricing

Specialist Items
Niche marketing

Unique value proposition is the representation of a value proposition which represents the firm commitment to provide better product. Its a kind of strategy that makes the customers believe that the product offers something of value. HI TEC unique value propositions are delivering something more and of unique nature from the competitors, delivering promise with the delivery of the product, creative product for the best solution of the problem and a desire to improve the quality of the products.

Uniqueness

Inproved quality

USP of HI TEC

Delevery of the promised goods

Creativity

Marketing research is a means of analyzing the current position of the product in the market in relation with others, demand of the customers, demanded quality of the product. It has an overall effect in the development of product, improving the quality to satisfy the market demand. Hi TEC by making the marketing research wanted to launch a new product. The Marketing Process: Actually marketing process is the strategy to provide quality product that customers wanted. The marketing process takes from marketing research. HI TECS marketing strategy is as in the following page:

Initiation of new brand Creating exitement amang customers Getting maximum response Creating the customers satisfied
By the above four process the firm creates value of a new product. Marketing mix is the combination of product, price, promotion and place to make the product reachable with the desired quality and price that the customers want. The marketing mix of HI TECS is as follows:

Innovation productss to attact customers

promotion by adopting penetration strategy

Merketing mix

Pricing

Placing product in retainlers

Customers purchase a product after observing different stages. Actually the customers at first getting aware of the product learn about its price and quality and then purchase it. HI TEC explains the concept by using AIDA model:

Creating awareness Awareness encourage the interest of the customers

Customers build a desire of the product

Finally purchase
HI TEC use a strategy where it the customers are used as an agent of the firm. When the customers become gets delighted by using the product they become delighted. The delighted customers share their good feeling of the product with their relatives. As a result customer base gets increased. In case of above the line promotion different media like TV channels, print media, and internet are used for marketing its product. In the case the product gets the maximum media coverage. By adopting the strategy business can learn about the responses of the customers. But the strategy is very costly. By adopting below the production strategy business usually brand the product by creating an opinion leader. The opinion leader can be a celebrity who actually markets the product. In the strategy the business firm sometimes sponsors events.

By using internet business now market their products. This is a faster way than of marketing where advertisements are placed in the popular websites. Here customers are mailed by the business. Customers act an employee in the case. Vital marketing is a strategy of marketing by advertising in the web sites. In case of HI TEC, a video of the liquid mounting is placed in you-tube. Customers see the exiting video and get aware of the product. Here the video is prepared in such a manner that excites the customer about the product. Using the strategy is cost effective than those of others. Its return is several times more than other strategy as well. Liquid mountaineering strategy in the HI TEC case as vital marketing is presented as follows:
An exiting vedio related with the product ids set but brand is not stated

Massage in the vedio is scientific

Vedio is uploaded in several popular web sites

After getting the impression a press release is made

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5.0 Observation of the key elements in the question set:

5.1 Brand is the representation of the specific idea or image of a particular product that customers perceive by observing the name, logo, slogan or design of the particular product. Branding is creating some sense in the mind of the customers by which he perceives about the product when any product similar to the product comes to him. Branding is an important part of the marketing because it works to keep a product in the mind of the customers. So by branding a product a customer: 01. Retain a particular position in the mind of the customers 02. Create a view of the product when customers experience something else 03. Brand value helps to commercialize the product further 04. Brand is regarded as an asset of the firm, which represents good reputation (VanAuken 2011) 5.2 Unique selling proposition is the value proposition offered by the firm. This actually creates a sense among customers when using the product. 01. For creating unique selling proposition the business must at first create a value of the business 02. Creating value proposition need careful analysis of the market and compare with the competitors 03. To create value proposition business must put itself in the position of the customers 04. It requires careful study of the psychological characteristics of the customers. For example: Price has very less effect in customers buying behavior 05. Analyzing the differentiating characteristics of the product over others (entrepreneur.com 2011) 5.3 Above the line promotion is more effective for HI TEC in the following ways: 01. A good media coverage can be get which helps embedded the product in the mind of the customers 02. Advertising in television raises more awareness among the customers 03. Customers can get the product directly from the online shop
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04. Advertising in the popular web sites. Advertise the product sharply 05. For the niche billboards can be used So using above the line promotion strategy helps the business to public the product more rapidly because it gets the maximum media coverage. So the strategy is fruitful. But if we compare it with the Liquid Mountaineering viral marketing strategy then it is regarded as more costly.

5.4 In case of Liquid Mountaineering viral marketing strategy the firm only prepare an advertisement which represents the features of the product. In HI TEC Liquid Mountaineering viral markets strategy brings the following benefits: 01. Less costlier than traditional marketing strategy 02. Yields several times more return for the business 03. Advertisement can be set in the self blogs 04. Getting the attention of huge number of people in a short span of tine 05. In the video the working process of the show can also be shown 06. The technology can directly relate the customers with the online shop 07. Positive feedback of the competitors can be get easily

Actually the companies promote one product by combining both on the doctrine. If the firm wants to use the above strategy for other divisions then: 01. The firm should build video clips in accordance with the features of the of the product that excites the customers 02. Place the video in the popular web sites 03. Creating own websites for placing the video Actually the company can builds relationship among the promotional strategy the by creating a blog of its own. In the blog both the three strategies can be placed. Say a blog named HI TEC blog is prepared for the firm.

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Strategy to link the promotional strategies

In the following presentation, it is shown how we can avail both the three promotional strategies in business by using a blog of the company:

Above the line promotion

Using banners in the blog Advertisement like billboards sre placed

Below the line promotion

Direct mail to customers from the blog Exibit product features in the blog Share the post in the external web sites

Liquid Mountaineering
Vedio clip is presented in the blog Share information for online shopping

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6.0 Key critical observations and commentary within the questions that have been asked
6.1 Critical issues for branding are as follows: 01. A brand is the intrinsic identity of the firm for the outsiders. The image the brand creates id termed as brand identity 02. For creating brand identity the firm must have to analyze the mission, vision carefully 03. Creating brand identity is involved with the commitment of the organization towards goal 04. Brand identity is the foundation of the organizational strategy 05. HI TECs branding strategy is based on higher quality and its huge sales volume 06. Innovation is also used for branding the HI TECs product. For examplemountaineering campaign with the application of semi scientific methods. 06. Brand reduces cost and brings higher profit (synthesispartnership.com 2010) The more clearly a firm can identify its brand identity the more it can be able to unify the organizational strategy to pursue its goal. A brand identity can direct the firm to the right way where the institutional strategy is set towards the achievement of the goal. (brickmarketing.com 2010) 6.2 Unique selling proposition is the value proposition of the firm which the product offer to the customers. The propositions are something more than serving a product. Value proposition can create loyalty among customers where the customer has become an advocate of the firm and advocates the product to others. (Gregory 2009) 01. Unique selling preposition are unique for each product which gives the firm a competitive advantage over the competitors 02. Actually it is very much related with the positioning of the product : Water

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03. By offering products at a lowest possible price the firm can get unique value proposition 04. By offering the highest possible price an organization can create value proposition 05. By offering the best customer care value proposition can be created 06. By giving an array of choice of the product mix value proposition can be created 07. Providing guarantee for products creates value proposition 08. For creating unique selling proposition business have to learn the target market well 09. The firm should arrange the benefit of the firm, and upon the biggest benefit the proposition should be set (The Economist 2009)

value proposition is given

Customers gets loyal

The loyal customers works as an advocate of the firm

6.3 Above the line promotion is very costlier. Here the main advantage is the firm usually gets the reaction of the customers. The decision strategies are: 01. For firms having good financial resources can adopt the strategy 02. Firm having a huge array of product should adept the strategy to target all types of media
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03. Firms with popular web sites should adopt it 04. One weakness of the strategy is that it can reduce profit as here expense is much more

6.4 Benefits of Mountaineering viral marketing strategy are described in the previous portion. In the position we would say to use it effectively: 01. The business firm should have a web site and that should be popular 02. A video clip must be prepared which is related with the feature of the product 03. The video clip must be exiting and represent value proposition 04. The response of the customer would be numerated 05. A prospective way to reach the potential customers. For example-Young generation We suggested a web site of the firm can be build which will link the different promotional strategy of the firm.

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7.0 Conclusion
Each firm has unique value proposition which distinguish the firm from those of others. The value proposition is set by analyzing the features of the product and selecting the best one. The value proposition yields the firm a competitive advantage. When the customers get the value proposition of the product, its get positioned in the mind of the customer. Poisoning has a long term effect in the life of the product. The firm should segment the market of the product in accordance with the bases like- the quality of the product, its value or so on. Segmenting the market is very crucial because it involves segmenting the market of the product according to the needs of the customers. To segment the market effectively market research is very important. It paves the way of segmenting strategy by analyzing the customers demand. In the process of marketing a product the first thing is creating awareness about the product among general mass then creating an excitement in customers by providing exiting advertisement and then customers purchase the product. If the customers get delighted in using the product he becomes the advocate of the product. In case of above the line promotion product gets huge media coverage and the business can measure the response of the customers by using the strategy. On the other hand, below the line promotion strategy use the concept of using an influential person as ambassador, sponsor different events but in the case direct response from the customers can not get instantly. Now internet is widely used for advertising products and in the process customers responses can be obtained directly. It is termed as liquid mountaineering vital marketing strategy. A firm can get the service of both the three services by developing a web site.

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8.0 Executive summary on group endeavors

As this is a group report, we together have tried to endeavor the strategies of the marketing management. 8.1 In the report we learn about different strategies of marketing like- market positioning, segmentation, marketing research, penetration strategy, unique value proposition, above the line promotion, below the line promotion and liquid mountaineering. 8.2 Most importantly we learn the application of the above marketing strategy in practical fields which is the subject matter of marketing management. As we know application of the marketing strategies are termed as marketing management 8.3 In case of above the line strategy we found how a farm market its product by examining the real example of HI TEC. Here the cost is very high but the product gets maximum media coverage 8.4 Below the line production is cost effective which uses personal marketing strategy and event sponsoring but here response is not obtained directly 8.5 Liquid mountaineering is an ideal strategy for HI TEC where a stimulus advertisement is made in accordance with the exiting features of the product. 8.6 A firm use get the advantage of both the above the line strategy, below the line strategy and vital marketing by developing web sites.

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9.0 Individual contribution on the group presentation and the listing of the action points included in the presentation
The report is prepared based on secondary data. Secondary data is collected from internet. Different articles, magazine topics, and web page reports are used in the preparation of the report. We individually get the understanding of the topics of the secondary data and then aggregate the idea in the report. We prepare a presentation based on the topic. The action points covered in the presentation are as follows: 01. What is brand 02. Benefits of branding 03. Branding HI TEC 04. Unique selling proposition 05. HI TEC unique selling proposition 06. Above the line promotion 07. Below the line promotion 08. Why above the line promotion is best for Hi Tec 09. Benefits of Liquid mountaineering campaign for HI TEC 10. Some other promotional strategy

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References and Bibliography

brickmarketing.com 2010, www.brickmarketing.com, viewed Sunday July 2012, <http://www.brickmarketing.com/define-branding.htm>. entrepreneur.com 2011, www.entrepreneur.com, viewed Sunday July 2012, <http://www.entrepreneur.com/encyclopedia/term/82480.html>. Gregory, A 2009, www.sitepoint.com, viewed Monday July 2012, <http://www.sitepoint.com/how-tocreate-unique-selling-proposition/>. synthesispartnership.com 2010, www.synthesispartnership.com, viewed Monday July 2012, <http://www.synthesispartnership.com/critical09/>. The Economist 2009, 'Unique value proposition', The Economist. VanAuken, B 2011, brandingstrategyinsider.com, viewed Monday July 2012, <http://www.brandingstrategyinsider.com/2011/03/what-is-a-brand.html>.

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