Some Good Marketing Funda Essay Example for Free

Some Good Marketing Funda Essay Some good marketing Funda! you can find much more at the link provided in the end.. Do read.. Marketing GD me mast points hai bolneko! When we think of marketing, we often think of Marketings efforts to acquire customers. The world, however, is moving toward relationship-based business, including subscription services and subscription commerce—but also most other business. Consider consumer packaged goods companies that used to have no direct relationship with customers, who bought in box stores. Many CPG companies are now using online and social mediums to build direct relationships with their customers. In this world, customer retention is just as important as customer acquisition. So how do the 7 Ps of marketing apply to customer retention marketing? 1. People are the most important. Retaining customers is about building relationships, and relationships are about people. Treat your customer as a person, and not a customer; start by hiring people who show they care about others. Compare how you behave driving in rush-hour traffic with how you drive down your own street past your neighbors. When you know you will see people again, or if you want to see them again, you treat them better. The whole company needs to care about customers and customer retention, and one executive must be responsible to ensure thats so—hence the rise of the chief customer officer. 2. Product is a very close second in importance to People. If your product is off, you will have a difficult time with the rest of the Ps. However, if the product is on target, you will accomplish the rest of the Ps much more easily. When designing your product or service for maximum customer retention, provide quick time to value, continued value over time, and high quality (those are what Apple does so well). Sometimes there is another P: Packaging. I include packaging as part of the product (or service), and the key to it is polish. 3. Place obviously matters when you are figuring out where to put your physical store, but what about when youre online? Does it matter there? Yes. If I am looking to communicate with my customer and offer them an upsell, I could send them an email or message them right while they are shopping, browsing, or working on my site. The first communication is out of context and has a low chance of response. The second is in context and has a higher likelihood of response. â€Å"Place† is context, and context matters. 4. Price. In any good relationship, people take care of each other. That is now the expectation in the customer-business relationship as well. Our customers assume that we will look after them. That is what they pay us to do. In an e-commerce business, that sort of relationship means providing deals for our recurring customers. In a subscription business, that means rolling new features (some, not all) into the service, over time, without charging more. 5. Promotion. How should you promote your product or service to customers to retain them, upsell to them and keep them for the long haul? Quite differently from how you promote to a prospective customer. Why? Because the person is your customer. You know, or should know, him or her. You know what the customer bought from you or how he or she uses your service. You can use that information to message customers in a more targeted, appropriate, helpful, and effective way. Dont spam them with the same generic info you send to everyone else. Send them targeted emails and in-context messages. 6. Processes. To succeed in all of the previous Ps, and for this success to be more than a one-time fluke, you need good processes, such as monitoring social media and engaging customers there, surveying customers for satisfaction, and implementing marketing automation. My company uses its own customer engagement solution to understand how each customer is engaging with the business. We look for positive or negative patterns and respond accordingly, sometimes by person or email but often right in our application with a targeted message based on behavior. 7. Positioning. If you want to retain your customers, you have to know who you are and communicate that clearly and repeatedly to them so they know who you are as well. Foremost, however, is this: Your actions must communicate your positioning. Those actions are showcased in the people you hire, the product you ship or service you deliver, the price you charge and the discounts you provide, the place and promotions you choose, and the processes you put in place. Combined, your words and actions say This is who we are and what you can expect of us. By acting on the 7 Ps of Customer Retention Marketing, you can keep your customers; make their interactions with your business successful; and in so doing make your business more successful.

Caviar Essays -- essays research papers

Caviar Settlers of America discovered sturgeon to be the most prolific fish of the North American continent. In the beginning of 19th century, the United States was the major producer of caviar in the world and produced 90% of the world's caviar. The American caviar industry got started when Henry Schacht, a German immigrant, opened a business catching sturgeon on the Delaware River. He treated his caviar with German salt and exported a great deal of it to Europe. At around the same time, sturgeon was fished from the Columbia River on the west coast. At one time, caviar was so common in America. It was served in saloons to encourage thirsty drinkers. Hudson River sturgeons were so plentiful that the flesh was referred to as "Albany beef." A nickel could get you a serving of the best caviar available in New York, and many of the most lavish establishments, including the Waldorf Astoria, offered free-flowing caviar as an amuse-bouche opening to an elegant meal. Caviar was also a common food in California during the gold rush days. Recently, the United States has made a strong comeback in caviar production. The U.S. Goverment says that the roe of sturgeon may be called simply "Caviar," whereas the roe of other fish can be called "Caviar" only if the name of the fish comes first. The following is a descriptive list of caviars made from American fresh water fish: American Sturgeon - Sturgeon resemble a prehistoric creature, but they are actually t...

Albatross Unit 3 Assignment

Introduction This case mainly deals with the varying types of operational challenges that Albatross Anchor is currently facing. The pricing is not a major issue for the organization and it is able to sell its products at a consistent market rate; however it is unable to realise its full profit potential due to the presence of a lot of operational inefficiencies. It is evident that if the firm is able to overcome all of these challenges, it can make the same level of profits as that of their competitors and can also facilitate their future growth exponentially. We have also analyzed two possible options which can be implemented and have assessed of which may be the most viable option for the company. We have also reached on a conclusion regarding the benefits the company can reap by implementing the strategies in their operational management plan. Question One Based on the information presented in the scenario/case study discuss Albatross Anchor’s competitiveness in relation to (please address all items in the below list and provide support for your conclusions): 1. Cost ) Cost of Production: Due to the presence of operational inefficiencies, Albatross Anchor is unable to reduce their costs as a result of which they have a lower profit margin. Therefore, they have a cost of production disadvantage as compared to their competitors. b) Economies of Scale in material purchasing: They can enjoy Economies of Scale when it comes to purchasing materials. Buying in bulk means they can get discounts from the suppliers on their purchase. c) Co st of Raw Materials Sitting Idle in the Warehouse: The increased amount of goods stored in the warehouse means that Albatross Anchor also needs to incur higher amounts of holding costs of storing the large amounts of inventory. Holding costs refers to the cost of carrying an inventory and may include costs such as, depreciation, deterioration, spoilage, taxes and insurance to name a few. d) Cost of Finished Goods Sitting Idle in the Warehouse: For the international orders the inventory of finished goods stays in the inventory along with the raw materials since the production is only done in small batches. This ultimately increases the holding cost for both the finished goods as well as the raw materials. 2. Speed of manufacturing process from order to finished product. Since the products are produced in limited quantities all the raw materials can be used more effectively. This also reduces the number of complexities during the manufacturing process. Currently their production is strictly dependent on the amount of demand for their products. 3. Flexibility in filling order(s) The manufacturing process is very constrained and is not flexible enough to house the smooth production of two different types of products. Each individual type of anchor requires their exclusive set of manufacturing line and therefore the time required to switch from one mode to another manufacturing mode requires 36 hours; which is quite a long time. 4. Technology The manufacturing process is deprived of new technology, making the process even more painstakingly slow. They are still using the traditional methods of making the anchors. 5. Capacity and facilities The current plan of their facilities is clearly insufficient for managing their operations smoothly. The space for storing the finished goods and the raw materials is located towards the far south of the entire facility and it takes a considerable amount of time and effort to ship the finish goods from there. If the manufacturing area is moved closer to the shipping area; it will save considerable amount of time in shipping these finished products. The foundry is not a part of the manufacturing department which further impairs the smooth flow of work in the production process. If the foundry is moved towards the manufacturing process it may increase the firm’s ability to cater to international orders more quickly. For having a mixed model of manufacturing process the Focused Factory process can be used. The Focused Factory aims for a narrow range of products and processes; as a result these factories are also small and quite simple and focus on only one or two products. 6. Service to customers Currently Albatross Anchors only sell their products through OEM customers and to the distributors. Apart from this, their products are of superior quality and are available to the customers in two varied forms. This not only gives Albatross Anchors greater choice, but also ensures that it leads to greater customer satisfaction. However, due to its current operational management procedures it is unable to reap the benefits of it as compared to their competitors. Question Two There are many ways that mushroom/bell anchors may be manufactured. Albatross Anchor is considering two new manufacturing processes (Process A and Process B) to reduce costs. Analysis of the information below will help determine which process has the lowest breakeven point (this validates the process is more cost effective). For each process the following fixed costs and variable costs are identified below: Anchor and Process| Process A| Process B| Sale price per anchor| $45. 00| $45. 00| Total Fixed cost | $ 650,000. 00| $950,000. 00| Variable cost per anchor| $ 36. 00| $ 29. 99| Based on the information in the table above complete the table below: Anchor and Process| Process A| Process B| (a) Fixed costs per anchor|   $9| $15. 01  | (b) The total number of anchors to attainbreak–even point for Process A and Process B|   72,222 units|   63,291 units| (c) Based on your calculations which Process (A or B) that you would recommend for adoption (you can select only one). Please make sure to explain how you arrived at your conclusion. Ans. (a)   At Break Even Point: Total revenue = Total cost i. e. p*x = v*x + F                        where, p = Sales Price per Anchor v = Variable Cost per Anchor                                       F = Total fixed Cost x = Total Anchors to be manufactured for Break Even. Since, p*x = v*x + F => (p-v)*x = F => (p-v) = F/x i. e. (p-v) = Total fixed cost per Anchor Now             Total fixed cost per anchor for Process A = (pA -vA) = (45-36) = $9 per Anchor                        Total fixed cost per anchor for Process B = (pB  -vB) = (45-29. 99) = $15. 01 per Anchor Ans. b)   (p-v)*x = F =>          x = F/(p-v)                                 Number of units to be manufactured at break even For Process A: xA = FA/(pA-vA) = 650,000/ (45-36) = 72,222. 22  ? 72,222 units to be manufactured at break even. For Process B: xB  =  FB/(pB-vB) = 950,000/ (45-29. 99) = 63,291. 14  ? 6 3,291 units to be manufactured at break even. Ans. (c)  Process B should be adopted for two reasons: (1) The break-even point for process B is 63291 units which is less than that                                 of process A at 72,222 units, so process B is more cost effective. 2) Process B is also better than Process A in terms of the Operating leverage which can be defined as the change in net income per unit increase in sales volume. Mathematically, operating leverage can be written as follows:                            Operating Leverage = F/(vx*)   where x*  is units to be manufactured at Break Even point. Operating leverage for process A = 650,000/(36*72222) = 0. 25                Operating leverage for process B = 950,000/(29. 99*63291) = 0. 5                Therefore the process B is also better in terms of the operating leverage as opposed to process A. Conclusion Although Albatross Anchors produces only two types of products; it has huge growth potential which still remains untapped. They can surely achieve more than their current growth rate. They can also undertake other important initiatives which can significantly increase their competitiveness. For instance, product diversification, improved operational processes, and greater employee satisfaction may all contribute in increasing their success in marketplace and further fuel their productivity. As clearly evident from the calculations, implementation of process B in the company can prove to be quite fruitful.

St. Augustine s Confessions - 1607 Words

Saint Augustine’s â€Å"Confessions† is an extremely important book, not only for the reason it is the very first, or one of the first spiritual biographies, but because Augustine was and continues to be one of the most important Christian theologians in history. His biography reflects his views on Christian scripture and theology as well as his personal journey on how he came to be a part of the Christian faith. Some noteworthy parts of his biography are; how he becomes a Manichean, when he meets Faustus and Bishop Ambrose, when he repudiates Manichaeism and gives up his career to devote himself to god and finally, how he discusses how Christian scripture can and should be interpreted. â€Å"Confessions† allows people to see Augustine as a man and a human being who had to struggle to find himself just as we all must do. Even one of the greatest theologians and greatest thinkers in history had to find his way in life, intellectually, spiritually and emotionally; all which are demonstrated in his biography. Augustine was attending school in Carthage at the time he became involved with the Manichaean tradition. His studies in school were originally in law but during his studies he found a deep love for philosophy and decided to change his focus in school. His studies in philosophy eventually led him to study the Bible. However, he was not pleased with literary style in the Bible stating in his biography that â€Å"when I then turned toward the scriptures, they appeared to me to be quiteShow MoreRelatedSt. Augustine s Confessions1914 Words   |  8 PagesSt. Augustine was a theologian and philosopher born in Africa to St. Monica. Although he is now known as a an incredibly influential Christian writer and thinker, his early years were defined by rebellion and discord that did not, in the least, reflect Christianity or the values that he is now known for supporting. His early years were freckled with mindless disobedience, wretched behavior, and characterized godlessness that makes his conversion to the faith incredibly remarkable and one that isRead MoreSt. Augustine s Confessions Essay1885 Words   |  8 Pagesexamined in the stories, Genesis, as God creates human beings to live amongst his other creations but to have free reign over the land, the Romans Corinthians, as even Jesus’ faith was to put to the test, and it is deeply explored in St. Augustine’s Confessions. Furthermore, the compatibility of faith and reason is seen in The Book of Matthew as Jesus travels the lands of Israel blessing them with his own faith. Faith and reason would not be attainable if it weren’t for our triune God subtly givingRead MoreJohn Augustine s The Confessions St. Augustine1466 Words   |  6 PagesIn Chapter IV of his Confessions, St. Augustine describes his terrible grief at the death of a friend, and then to the adherence to mortal things, and why he regrets them. He writes that everybody experiences dea th differently, but the death of his close friend made him realize that this life is temporal. He continues saying that he was stricken with grief from the death of his friend and that made him want to move away from his hometown. Everything there brought his friend to mind, and he was alwaysRead MoreSt. Augustine s Confessions984 Words   |  4 Pagesfaith. For St. Augustine, faith provides more questions than answers, but consequently leads to his life as a bishop and eventually sainthood. For some, however, the Bible provides the answers to all the questions that go unanswered by common sense. In St. Augustine’s Confessions, Augustine is able to further understand himself and his faith in Christ by reflecting on anecdotes of his past. Conversely, the Bible’s use of etiology provides spiritual justification for physical realities. In St. Augustine’sRead MoreSt. Augustine s Confessions Essay1534 Words   |  7 Pages greed, and sloth (â€Å"The Seven Deadly Sins,† 1). In Saint Augustine’s Confessions, readers get the chance to learn about sin through Saint Augustine’s experiences of sin confrontations and temptations. For instance, in Confessions, the pear tree is depicted as a sin, a symbol of pleasure—Saint Augustine’s original sin. How so? Well, stealing the pears with his friends is Saint Augustine’s first memory of sinning. Saint Augustine sees a parallel connection between the pear tree and the tree of theRead MoreSt. Augustine s Confessions1233 Words   |  5 PagesSt. Augustine’s Confessions has often been referred to as a book undertaking the subject of conversion. Throughout Augustine of Hippo’s life he underwent several conversions so it is unsurprising that those experiences influenced his books. Although he was baptized as a Christia n at birth, he rejected Christianity until his final conversion at age thirty. After his conversion and eventually beginning a monastic life he became the most important theologian in Christian history until the ReformationRead MoreAnalysis Of St. Augustine s The Confessions 1297 Words   |  6 PagesJake DeLeers Second Four-Page Essay In Books VIII and IX of the Confessions, St. Augustine describes a long and difficult personal spiritual journey to the end of being to accept and receive God’s grace. Augustine finally had to come to terms with his own intellectual and moral pride masquerading as autonomy and independence. He finally realized that his intellect could not serve as a tool to help a will incapable of overcoming his own sin. One useful way to compare Augustine’s spiritual struggleRead MoreAugustine s Confessions And St. Paul Essay1979 Words   |  8 PagesIn Augustine’s Confessions and St. Paul’s First Letter to the Corinthians, both authors discuss the relationship between fleshy temptation and the purity of the spirit. The Confessions is Augustine’s writes of his extensive search for truth and conversion to Christianity, as he struggles against fleshy temptations and his soul to find rest in God. Augustine’s writes of a constant struggle to reconcile between the dualistic notion of the flesh and spirit with a nuanced understanding of flesh. On theRead MoreConfessions : The Role Of Friendship On St. Augustine s Spiritual Journey Essay2131 Words   |  9 PagesCONFESSIONS: THE ROLE OF FRIENDSHIP ON ST. AUGUSTINE’S SPIRITUAL JOURNEY Originally written during the fourth century, St. Augustine’s autobiographical book, Confessions, was among the most influential models for Christian writers over the course of a millennium. As it is arguably Augustine’s most important text, it continues to influence theological discussion even today. Through writing Confessions, Augustine proves himself to be a professional scrutinizer. He analyzes every aspect of his ownRead MoreSt. Augustine s Confessions And Dante s Inferno1746 Words   |  7 PagesIn St. Augustine’s Confessions and Dante’s Inferno, the central characters in their respective narratives are presented a message from which induces distinct reactions. More importantly, their reactions are reflections of their perspective concerning the Christian outlook towards life and passion. In Book VIII.xi (29) the reader finds St. Augustine in a state of despair and anguish because of his ongoing internal struggle between his mind and body. Afterwards, he undergoes a surreal experience