Oyun -20820014

Successful marketing on a limited Budget.

When a small business is starting up it usually does not have sufficient capital to market the product or service. That`s why I wanted to know about how marketers handle the challenges of marketing with limited funds. As I read the articles and make some research according to this issue I have obtained some conception and ideas.
There are only two real challenges to marketers faced with limited funds - mental challenges and intellectual ones. If you've got a big budget you can afford to think big. If you haven't, you need from necessity to think small.
As well as, you need to be creative and responsible with every penny you've got.
Marketers with big market can afford to take risks, make guesses about many aspects of their campaign, use mass media, and accept that some amount of wastage is inevitable. In complete contrast, successful marketing on a limited budget is all about getting 'down and dirty' with the detail.
According to the article , the sole purpose of marketing is to 'create a sale'. And the business owner must remember to make sure that their method reaches to the target market effectively.

There is a good news to create a transaction between potential customers and marketer through digital world in other words by the internet.
In recent years customers are increasingly coming to online purchasing. To purchase your product or service through online, obviously you'll need a web site, If you've got a fantastic website with everything a buyer needs you will be a huge success. But the cost of entry is tumbling and you can now get more functionality for your money.
So, you'll need a good web statistics package and a well structured database so that in the fullness of time you can build a CRM campaign to understand your customers' needs and then meet them. Moreover, you can test the market by paying for key words or sponsored links.
. Online advertising is still cheap as a medium, and creative costs can be much lower than traditional ways.
Even though I have learned many things from these articles, i still have a question.
I read the statement that is not clear in my mind.
- DO NOT make your bids ridiculously low because you don’t want to blow your budget.

Is that statement right? Why? I

References:

http://www.canadabusiness.ca/

http://www.wnim.com/

www.google.com

http://uberaffiliate.com

Bayarmaa 20820007

Adidas, Samsung partner on mobile phone MiCoach

My run, My Rhythm, miCoach

Product:

Adidas and Samsung are working together. Today as a result of their cooperation they offer us a quiet new brand- mobile phone that can coach. Doesn't it sound good? There are 220 different programs (losing weight, marathon) from where you can choose your plan according to your level of training to achieve certain goals. Also MiCoach include a 2-megapixel camera, 1GB MP3 player, Bluetooth, and quad- band connectivity. Therefore it gives you much information such as heart rate, distance covered, and speed of your running. Besides, you can listen to the music that fits to your tempo of running. One disadvantage of MiCoach is not bright display, in the sunny day it can cause some problems. . The companies said this mobile will work with Addidas shoes. Gears you need from Adidas are top and sneaker.

Price:

Pricing have not set yet but in Europe MiCoach will cost 304$ - 608$ depending on services that customer will choose. In North America price does not set yet. Price is expansive because it includes many features. Also you can choose your Micoach from variety of colors such as Dark Gray, Tech Silver, Pink, Red, Blue and etc.

Place:
In the retail stores MiCoach will sell in Europe from this month and in United States by 2009.

Promotion:

As it is a new product you can find some latest articles in the newspaper and if you are looking for more information you can visit http://www.micoach.com/ . I hope very soon we will see the new MiCoach’s ad on TV.

My opinion:

Now days mobile phones are one of the most important part of our daily life almost everybody have their own mobiles. I think it is a good idea-MiCoach. If my mobile contains this kind of features and plus ‘Coach’ it is amazing. Maybe many people agree with me. I think it can attract many customers not depending on their age and gender satisfying their needs and wants. According to the text book that is what Marketing is- satisfying customers needs and wants. In case of Mongolia many people like luxury mobiles with many functions and unique style. Probably they will buy it.

References:
http://lfpress.ca/newsstand/Business/BusinessMonday/2008/03/10/4958781-sun.html
http://www.google.com/
http://www.micoach.com/

Paul Kim 20501005

Starbucks’ 5p marketing mix

After reading chapter 1 in my book, I could comprehend the overall concept of marketing 4P mix and Value-based marketing. Searching a company that has successful case in marketing, I found Starbucks’ 5P mix that was very interesting to me. According to my book, 4P mix consists of product, price, place and promotion. However Starbucks has one more P which is ‘People’. I wondered why!! Several questions came to my mind. “Why did Starbucks put one more P to marketing 4P mix?” “What kind of marketing plan made Starbucks so successful?” etc… Let’s check these out!

Product: The main point of product strategy is identical coffee taste in all Starbucks stores throughout the world. In order to keep the same taste, they use special cups which have several check points so that baristas can control the amount of water and also customers can customize their coffee up to their preference.
% Barista(Italian): People who make coffee in the bar.

Price: As you know, Starbucks’ coffee has quite high level of price, but it also has high quality. Targeting career women in their twenties and thirties, Starbuck has been keeping price high as well as quality. At first Starbucks began its business in Korea, many people might have thought the price was too expensive. Despite that price which is even more expensive than the price of a meal, it made such a great selling record. From this fact, I could notice that many customers seem to have willingness to pay for coffee with high price as long as it has high quality and satisfies their needs.

Place: As I mentioned, Starbucks’ main target is career women in their twenties and thirties, so it launched many stores at the places where many women are working and passing. For instance, there are more than four stores in Samsung dong, Kang nam, where many targets are.

Promotion: I have never seen any Starbucks’ ad in a TV. Starbucks uses spread marketing (from mouth to mouth) which does not need money. Actually, Starbucks did not intend to use spread marketing. The reason why they had to use that kind of marketing was because they just didn’t have enough money to put an ad in a TV. Anyway, it was so successful and Starbucks has realized that spread marketing is very effective.

People: In my opinion, this is mainly related to customer service. This looks one that only Starbucks’ marketing plan has. But I guess many other companies today might also consider it as an important element. I think Starbucks wanted to strongly emphasize the importance of service and staff education. That might be why they use 5P marketing mix which has one more P(People).

To sum up, Starbucks has been really successful. Behind that there is a critical reason which is Starbucks has been considering customer service its top priority and offering coffee at high quality. In other words, Starbucks has been customer-oriented. Starbucks exactly knew the importance of customer service and satisfaction. I am sure that would be the key to success today.

References
http://www.seri.org/
http://search.businessweek.com/Search?searchTerm=starbucks&resultsPerPage=20
http://en.wikipedia.org/wiki/Starbucks

20500356 Jinbyeong Yang

LG cyon phone, can It be the leading brand of cell-phone market?The worldwide cellphone market is now in rapid change. Apple launched iphone with big issues and Motorola has been thinking about withdrawal from the market. In the circumstance, can LG survive in the cellphone market? I’ll write my post from article about LG’s new cameraphone, by using the concepts from chap.1.LG started to make cellphone later than others, and its business could hardly make a good result. So LG decided to make a new value of cellphones, of which the strategy called ‘black label’.That brought a great success to the company. Now lg is earning lots of money from the market, and has became one of major companies of the market. I want to say LG’s cellphones using 4p and the value.ProductIn tradition, the concept to cellphone was just a handheld phone. It was no more than another electric tool that enables people ubiquatas life. It was no long time ago that conversance movement included cellphone mp3, camera, and other multimedia functions.Lg focused on design. They founded that cellphones could have fashionable values. They launched ‘black label’ phones like Chocolate or Shine, which has great design and figures that could touch consumers emotionally such as touchpad, stainless-shining product.And they could catch up the trend. In the time of year 2005, RAZR of Motorola had made an incredible success in the market by its design. LG sold 13millions of chocolate. They continuously have done great successes.PriceOne of the reason that Lg’s cellphone had great success is their reasonable price. Their ‘black labeled’ Cellphones had targets to young customers of 10~30s, and the price wasn’t to expensive. It’s because they had another phone targeted the rich users, named PRADA phone. It was over $800, but with the price and branding with prada, the price made their image to their needs.PlaceI couldn’t understand the concept ‘place’, so I didn’t write about that.PromotionThey gave the consumers not just a cellphone, but an item which could be good accesaries, by which they could do many multimedia activities. But in korea, I think it has not succeed so much. In korea, anycall is the best phone of the market because of its image and the product itself, and lg cyon has not hurdled it up yet. They not have the belief to customers like one of Samsung anycall.original article address:http://www.businessweek.com/globalbiz/content/aug2007/gb20070829_110479.htm