Marketing - 2050 Words

1 °) How would you explain the Guinness pricing strategy and the underlying assumptions about consumer behavior when Diageo reports for 2005 that in the UK and Ireland the Guinness sales volume fell by 3 per cent, but a value growth of 4 per cent was achieved in both markets, mainly due to price increases? 2 °) Motivated by the success of this pricing strategy, should Diageo continue to increase the price of Guinness? HOW TO EXPLAIN GUINNESS PRICING STRATEGY ? - Pricing: Not just a financial and commercialization part = belongs to marketing and sales strategy - Pricing affects : - sales - market share - revenue - profit = Right pricing : a direct implication to the product success in the market = The†¦show more content†¦|Pro’s |Con’s | |†¢ rapid turnover growth |†¢ A short-term solution | |= Reinvestment in marketing, advertising, development strategy and | | |product development |†¢ Loss of their youth market share. | | | | |†¢ enable them to become a premium brand |†¢ Damaged brand image | |= Regarding the consumers | | |= Regarding the competitors |†¢ High risk of losing their consumers to competition |Show MoreRelatedMarketing Analysis : Marketing And Marketing966 Words   |  4 Pagesreflect back over these last five weeks I now have a clearer view of marketing and how it affects not just the consumers of the world and the companies with their marketing managers, but how it affects me. Yes, I am a consumer who clips coupons, budgets my finances, and looks for sale items and this marketing class has taught me that marketing is more than selling or advertising. Marketing managers have a difficult job, as marketing involves identifying, meeting and satisfying the needs of customersRead MoreMarketing Analysis : Marketing And Marketing1486 Words   |  6 Pagesthis day and age, marketing plays a pivotal role in the business environment. Marketing is dynamic, complicated and challenging. The basic concept of marketing is to identify t he need of human and society, and research how to satisfy and create those need. According to American Marketing Association (AMA), defining that marketing is the processed activity which communicate and exchange valuable offerings to customers (AMA, 2013). To be more precise, the main mission of marketing is choosing targetRead MoreMarketing Concept Of Marketing : Marketing1651 Words   |  7 PagesMarketing concept Marketing plays a major function in any business organisation. The essence of marketing is about designing and managing a product and generating exchanges of value from where both the customer and the organisation can attain benefits. Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large (Solomon, Marshall Stuart, 2009, p.13). MarketersRead MoreMarketing Functions Of Marketing And Marketing1229 Words   |  5 Pagestrends, the marketing function is used as a measure in the business-to-business practice, to capture and place varied products in a market place (Kono, 2004). 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By using the marketing concept companiesRead MoreMarketing Orientation : Marketing And Marketing1450 Words   |  6 Pages A wide range of companies today prefer to adopt the marketing orientated approach to sell their new products rather than using product orientation before.In fact,marketing orientation also helps such companies to earn more profits in the long time.According to Jobber and Ellis Chadwick (2013),marketing orientation focuses on customers need as the primary drivers of organizational performance.However,this is not always the case. Product orientation still be used by some senior executives and thisRead MoreMarketing : Marketing And Relationship Marketing Essay1359 Words   |  6 PagesIntegrating Marketing With the shift in the external marketing environments, Apple has also shifted its marketing strategy. It personalizes marketing through experiential marketing and relationship marketing. â€Å"Experiential marketing promotes a product by not only communicating a product’s features and benefits but also connecting it with unique and interesting consumer experiences† (Strategic Brand Management, P. 181). Customers can easily experience a sense of community every time they walk in intoRead MoreMarketing Analysis : Marketing And Marketing1770 Words   |  8 PagesWhat is Marketing? A plethora of individuals seem to be misinformed about marketing. Several of these individuals believe that marketing is just advertising. Others will tell you that marketing is all about sales, insinuating that all marketers are just salesmen. Now these beliefs are both right and wrong. â€Å"How can they both be right and wrong at the same time?† you may be asking yourself. Well they are right, because marketing encompasses both advertising and sales. They are both wrong by assumingRead MoreMarketing Mix Of Marketing And Marketing1001 Words   |  5 PagesIn The cutting edge world of marketing dated back in the late 1950s, the four Ps were called the marketing mix, meaning that a marketing plan is a mix of four components. A company who has adopted 4P approach focuses on product, whereas company who has adopted the value approach focuses on value to the consumer. One of other marketing mix is the Value approach. This approach concentrates on delivering value to the consumers or customers, the 4Ps approach is evidently concentrated not on customersRead MoreMarketing Analysis : Marketing And Marketing1878 Words   |  8 PagesIntroduction Marketing research is the process that associates the consumers, customers, and end users to the marketer through information — information used to classify and describe marketing prospects and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and development understanding of marketing as a process. Marketing research identifies the information required to address these issues, designs the method for collecting information, manages and implements