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Hearl Tackett

1. Hearl Tackett

Wednesday Aug 5 at 10am

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According to our text, author J. Finch(2012) defines marketing as a customer focused philosophy of business that provides the basis for competition in most business to business and business to consumer markets. Marketing management is defined by Finch(2012) as a set of management processes aimed at anticipating and satisfying customer requirements, consistent with the profit goals of the company.

Understanding consumer's wants and needs is at the heart of marketing's role in the creation of customer value. With the increasingly global markets becoming more competitive, market research is more important than ever. Companies must be able to adapt and change their marketing strategies according to the changes in the markets that happen so quickly. That is an essential function of a successful company.

It makes sense to me that in the years following World War II that the focus of marketing was simply production of the product and selling of the product. That was because of the lack of competition as manufacturers transitioned back to their products from the war effort. But, as more competitors entered the markets, the more companies had to do research to differentiate their products to reach their intended consumers or target market. In fact, market research is what was done by the new companies entering the market because that research yielded data that showed that there was a niche in the market that wasn't addressed or that they felt they could address it better than the competition.

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

2. Isaleny Delgadillo

Thursday Aug 6 at 8:12pm

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Marketing is form of introducing products to consumers and increasing revenue. In todays world of technology marketing has changed in many ways. Social media is now becoming the number one source to get your products out there. Marketing is very important in any organization and or business. Without proper management and structure it's unlikely to have a successful business along with a work environment. Marketing management is an essential part of the business; they have to strategize ways to ensure business is earned and kept. A good marketing management team is imperative within all organization. Marketable products and services is what intrigues consumers which turns investment into earnings.

This text focuses exclusively on the processes of effective marketing and marketing management from a business decision maker's perspective. In this regard, the practice of marketing can be defined as "the management process responsible for identifying, anticipating, and satisfying customer requirements profitably" (Chartered Institute of Marketing, 2011). More specifically, marketing management can be understood as "a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders" (American Marketing Association, 2011). Reference: CharteredInstitute ofMarketing. (2011). Retrieved from http://www.cim.co.uk/resources/understandingmarket/definitionmkting.aspx (Links to an external site.) (Links to an external site.) Finch, J. (2012). Managerial marketing . Retrieved from https://ashford.content.edu (Links to an external site.)

3. Isaleny Delgadillo

Thursday Aug 6 at 8:12pm

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4. Hearl Tackett

Thursday Aug 6 at 6:24pm

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This was a very difficult exercise for me. I really didn't think of Marketing as an analytical profession. Boy, am I going to learn a lot in this class! The product that I chose was the most obvious to me and that is the Nike Air Jordan's that I purchased about three weeks ago.

	Product	Price	Place	Promotion
Generic Market Strategy	Product Differentiation	Market Focus	Product Differentiation	Product Differentiation
Market Segmentation	Athletic Shoes	High End(Expensive)	Sporting Goods	Elite Athletes
Product Differentiation	Air Cushion, Leather	Collectors	not found in Walmart	Air Jordan
Brand Positioning	Nike	Elite Athletes	Most stocked	Name recognition

The generic market strategy most used, in my opinion, was product differentiation because Nike really tries to set themselves apart from all other athletic shoes. The only reason I chose the Market focus under the price heading is because they are primarily focused on the upper to upper middle class consumer as their prices are pretty expensive.

The market segmentation strategy is such that they are in a broadly defined mas market like athletic shoes, but they have a high end price, only found in elite sporting good stores and are promoted to elite athletes.

The product differentiation strategy is Nike's focus because they gain their competitive advantage by being able to differentiate their product from competitors by quality like leather and air cushioned soles, by price with it being the most expensive shoes on the market, their placement by not being able to find the top selling shoes in the big box stores, and they hardly need promotion due to name recognition.

Nike definitely has some haters as well. They are stylish and expensive so it creates animosity and jealousy in schools when the lower income children are unable to afford them. Consumers in lower income families will, most likely, do their school shopping in the big box or discount stores so Nike may not be on their shopping list. Athletic shoes serve a purpose for comfort and agility, but there are some that don't wear them at all but collect them as investments each time a new model comes out. If Nike decided to change their strategy to a pricing strategy, their volume may increase but the profits may not increase and being a publicly traded company, pleasing the share holder is the mission of the company.

5.Katherine Olivera

FridayAug 7 at 5:57pm

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The Marketing Mix
	Product	Price	Place	Promotion
Generic Market Strategy	Nike Women's React Infinity Run Flyknit	Market Focus	Product Differentiation	Product Differentiation
Market Segmentation	Running Shoes	High End – 160$	Nike.com, Sporting Stores	Experienced Runners
Product Differentiation	Prevent injury prone to running long distances	Specialized for long distance runners and only product tested for prevention of injuries	Only found online or dedicated nike products stores	Flyknit Infinity Run. Run longer with less injuries
Brand Positioning	Nike	Experience Runners	Mainly stocked	World Wide known name

The products I bought a few months ago were the Nike Women’s React Infinity Run Flyknit.

The matrix is very useful to all managers because it allows them to see how each element of the marketing mix contributes to the strategic objectives established in the lelt-hand column (Finch, 2012). Nike, is a well established organization that has aligned their elements well with the categories. Generic market strategy Brand recognition is a key factor that helps promote an increased price of their products. The objective of the 4Ps is to make the market greater in value than the competitors can offer, and I do agree that the four P’s contributed to each objectibe column. Personally, I do not run like an athlete but I do average 100 miles a month. Because I knew my legs would eventually wear down if I didn’t use the right type of shoes, I decided to buy these to give them a try. They have definitely improved my running overall. These new improvements and research attached to the new shoe has brought profits in sales to increase. Currently I do not see any room for improvement, however I do believe as technology continues to increase and more research is conducted more running shoes could be produced to help runners.

Reference:

Finch, J. (2012). Managerial marketing. San Diego, CA: Bridgepoint Education, Inc