BUS 620 Week 1 assignment

Week 1 - Assignment

AmazonFresh

Read the article: AmazonFresh is Jeff Bezos’ Last Mile Quest for Total Retail Domination (Links to an external site.)Links to an external site..

Amazon has created three elements with how they are approaching the consumer market: fulfillment centers, Amazon Prime, and Amazon Fresh. Analyze how Amazon has captured its consumer’s desire for not only less expensive prices, but faster delivery, and how it has created programs that will satisfy these consumer demands. Determine if Amazon will succeed in its quest for same-day deliver and justify your response.

The paper

· Must be minimum of three to four double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.)Links to an external site..

· Must include a separate title page with the following:

· Title of paper

· Student’s name

· Course name and number

· Instructor’s name

· Date submitted

· You must use at least three scholarly sources from the Ashford University Library, one of which must be peer reviewed, in addition to the textbook.

· Must document all sources in APA style as outlined in the Ashford Writing Center.

Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center

Carefully review the Grading Rubric  (Links to an external site.)Links to an external site.for the criteria that will be used to evaluate your assignment.

Required Resources 

Text

Read the following chapters in  Managerial marketing :

· Chapter 1: Strategic Planning and the Marketing Management Process

· Chapter 2: Value Creation and Customer Satisfaction

Finch, J. (2012).  Managerial marketing  [Electronic version]. Retrieved from https://ashford.content.edu

Article

McCorvey, J. J. (2013, August 5). Amazonfresh is Jeff Bezos’ last mile quest for total retail domination. (Links to an external site.)Links to an external site. Fast Company. Retrieved from http://www.fastcompany.com/3014817/amazon-jeff-bezos

 

Recommended Resources

Article

Day, G.S. (1994). The capabilities of market-driven organizations. The Journal of Marketing, 58(4), 38 Retrieved from EBSCOHost

Ailawadi, K. L. (2013, Jul 21). How companies can get smart about raising prices; marketers too often do precisely the wrong things, alienating customers and getting little return. Here's how they can do it right. Wall Street Journal (Online). Retrieved from the ProQuest database.

Carr, A. (2013, April). What you don’t know about Apple. Fast Company, (174), 35-38. Retrieved from the EBSCOhost database.

Clifford, S. (2012, Jul 13). Conservative Nordstrom to sell trendy Topshop fashions. International Herald Tribune, 15. Retreived from Proquest.

Geron, T. (2013, January 23). Airbnb and the unstoppable rise of the share economy. (Links to an external site.)Links to an external site. Forbes. Retrieved from http://www.forbes.com/sites/tomiogeron/2013/01/23/airbnb-and-the-unstoppable-rise-of-the-share-economy/.

McCorvey, J. J. (2013, August 5). Amazonfresh is Jeff Bezos’ last mile quest for total retail domination. (Links to an external site.)Links to an external site. Fast Company. Retrieved from http://www.fastcompany.com/3014817/amazon-jeff-bezos

Mohammed, R. (2012, Jan 31). J.C. Penney’s risky new pricing strategy. Harvard Business Review. Retrieved from the ProQuest database.

Craven, R. (n.d.). The truth about marketing to women. (Links to an external site.)Links to an external site. Retrieved from http://www.marketingdonut.co.uk/marketing/marketing-strategy/the-truth-about-marketing-to-women

· The authors explore female buying power and how well male-dominated businesses can understand what women really want.

Ziethammer, R. (2006). Forward-looking bidding in online auctions. Journal of Marketing Research, 43, 462-476. Retrieved from EBSCOHost.

Multimedia

Marketing in Action: Marketing Mix. (Links to an external site.)Links to an external site. (https://secure.films.com/OnDemandEmbed.aspx?token=41113&aid=18596&loid=88026&plt=FOD&w=420&h=315&fWidth=440&fHeight=365)

· Basic strategies of marketing include the marketing mix, namely products, pricing, placement, and promotion. Principles can be applied to businesses big or small.

Importance of Market Research Strategy. (Links to an external site.)Links to an external site. (http://searchcenter.intelecomonline.net/playClipDirect.aspx?id=4870EEC7664070BB9D6744FDA7325EE44F626D5471CFAC29F5AE837853B8A15DD5EEB7BB9150D0D13BBD68F50C0036C5)

· This clip explores the importance of marketing and market research for any business. It explains that the most useful market research will assess whether or not there's a need for the product or service in the marketplace, as well as who might be the chief competition.

Week One Lecture

Marketing Management – An Overview

As stated in your text, marketing management uses the four functions of management to strategically implement the four “P’s” of marketing (Mullins & Walker, 2010). In other words, organizations attempt to gain a competitive advantage by using planning, organizing, leading, and controlling efforts to develop products, promotion, pricing, and distribution (place) strategies. These strategies become “a set of integrated decisions and actions by which a business expects to achieve its marketing objectives and meet the value requirements of its customers” (Slater & Olson, 2001, p. 1056).

It is important to remember that the “product” can be many things. Kotler (2000) suggested ten different items that can be marketed: “goods, services, experiences, events, persons, places, properties, organizations, information, and ideas” (p. 3). In addition, also remember that the end-users (or customers) of these products may have varying demand levels. Marketing managers need to develop strategies to address how the company will handle the challenges of marketing products with “negative demand, no demand, latent demand, declining demand, irregular demand, full demand, overfull demand, and unwholesome demand” (p. 6). Think about this for a minute – what products or services come to mind that fit each of these demand levels?

In today’s dynamic business environment, marketing managers must consider the changes resulting from globalization, technological advances, and governmental regulations as they develop integrated marketing and business strategies. Processes must be flexible and efficient. Successful companies are those that can analyze and predict changes and then, proactively meet customer needs better than the competition.

In the coming weeks, there will be an exploration consumer markets and buyer behavior and analyze how this information is used in forecasting and measuring market demand. We will look at identifying market segments and selecting target markets, as well as positioning the market offering through the product life cycle. We will delve deeper into each of the four P’s of the marketing mix. In addition, there will be an evaluation of the opportunities in the changing markets and the role of strategic planning. Finally, all of this information together to analyze how to measure performance. This is a lot of complex information to digest, but I think you will find our learning journey interesting and relevant.

References

Kotler, P. (2000). Marketing management (Millennium ed.). Upper Saddle River, NJ: Prentice Hall.

Mullins, J. W., Walker, Jr., O. C. (2010). Marketing management: A strategic decision-making approach (7th ed.). Boston, MA: McGraw-Hill Irwin.

Perreault, Jr., W. D., & McCarthy, E. J. (1999). Basic marketing: A global-managerial approach (13th ed.). New York, NY: Irwin McGraw-Hill.

Slater, S. F., & Olson, E. M. (2001, November). Marketing’s contribution to the implementation of business strategy: An empirical analysis. Strategic Management Journal, 22(11), 1055-1067. DOI: 10.1002/smj.198