Marketing Accountability and Strategic Marketing Process

[pic] EXECUTIVE MM PROGRAM MAJOR IN STRATEGIC MANAGEMENT MMKT-723 – STRATEGIC MARKETING Faculty Member : Prof.DR.Ignas G.Sidik Student : Anton Latief ID : MME 153082025 Class Summary Topic 1 MARKETING ACCOUNTABILITY AND STRATEGIC MARKETING PROCESS CUSTOMER FOCUS AND PROFITABILITY Business that have a strong market orientation are constantly in tune with customer’s needs, competitors’ strategies, changes in the business climate, and emerging technologies, and they seek ways to continuously improve the solutions they bring to target customers. This process enables them to move with, and often lead, change. The major benefit of a strong customer focus is long-run survival. Business with a strong customer focus†¦show more content†¦The job of a market-based management team includes not only tracking customer satisfaction but also encouraging dissatisfied customers to complain. Only by learning the details of a customer complaint can a business take corrective action. The relationship between customer satisfaction and customer retention is intuitively easy to discern. Different competitive conditions, however, modify this relationship. Business with no or limited competition have high levels of customer retention despite any low level of customer satisfaction. In highly competitive markets, even high levels of customer satisfaction may not ensure against customer defection. Customer satisfaction and customer retention are important linkages to market-based strategy and to profitability. The ultimate decision of any marketing strategy should be to attract, satisfy, and retain target customers. The customer as a critical component in the profitability equation is completely over-looked in financial analysis and annual reports. It is an asset that businesses have yet to quantify in their accounting systems. A market based management business sees customer as their lifetime partner. Customer life expectancy increases exponentially with customer retention. Another key determinant of customer loyalty is customer conviction. When customers recommend a service or product, they undoubtedly have the utmostShow MoreRelatedPrimary Benefit Of A Marketing Plan826 Words   |  4 Pagescustomers and the organization. The strategic management planning process is an ongoing effort of evaluating all aspects of an organization’s status, values, needs, and how these factors relate to the desired future visions. Strategic planning provides an organized method for gathering data from both internal and external sources used in the formulation of realistic objectives and goals for the agency. 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Marketi ng is defined as â€Å"the action or business of promoting and selling products or services, including market research and advertising† (Oxford). Marketing is an industry that implements several tactics and strategies to entice consumers to use or purchase a certain brand or product. Several marketing tactics include persuasion through physiological, emotional, and logical appeal to make products and services seem more glamorousRead MoreHow Does An Organization Combine Its Mission And Vision With Its Environment Essay1294 Words   |  6 Pagesits environment analyses to develop a strategic plan? For most organizations, the principal representation of their strategic dimension is their written strategic plan. The plan articulates the organization mission, vision, values, goals, and objectives and the motives behind its decisions and actions. However, written plans should be used as strategic guidelines not as a blueprint that has to be followed. Although there are many ways to construct a strategic plan, to be useful and effective it must

Warren Buffet s Life Story - 1485 Words

WARREN BUFFET Rightly called as the â€Å"Oracle of Omaha†, Warren Buffet is the guru of investments and one of the wealthiest and revered businessmen in the world. With a net worth of $72.7 Billion, he is the third richest man in the world as of 2015. Warren Buffet is an out and out self-made man. He is the epitome of discipline and wisdom in the investment arena. So how did he reach this pinnacle? His life story shows he has grown from a boy with a simple childhood to a teen who learnt from his mistakes; then to a man with successful entrepreneurships and ultimately to a magnanimous business magnate. He was born Warren Edward Buffett on August 30, 1930, in Omaha, Nebraska to a father who was a stockbroker a U.S. congressman. Ever since†¦show more content†¦Soon with the profits of the single pinball machine, he could buy 8 more and installed it in other barber shops. Instead of lavishing on the profits, Buffet was wise enough to re-invest and garner more profits. Through his education in University of Pennsylvania, University of Nebraska and Columbia school of business, he learnt a lot of things for life. He developed a penchant for economics investments. After working for 2 years as an analyst in Graham-Newman Corp. under his mentor, he started his own firm Buffet partnership Ltd. at Omaha in 1956. With his most noted skill of lifting undervalued companies, he uplifted many small scale businesses and soon became a billionaire. One such company was Berkshire Hathaway which he acquired slowly by buying its shares. Soon he expanded his empire across various arenas such as media, insurance and oil by buying companies such as The Washington post, Geico and Exxon respectively. In recent times, Warren Buffett pulled off his biggest deal ever in August 2015, when his Berkshire Hathaway agreed to pay a record $37 billion for Precision Castparts, a maker of aerospace and industrial parts. Lately he s also teamed up in various ways with 3G Capital-a firm run by several Brazilian billionaires-in deals for Kraft Foods, Heinz, Burger King and coffeehouse chain Tim Hortons. Buffet has also made heads turn by making the biggest ever charity in American history towards

DDT and Pesticides Directions Free Essays

American School of Guatemala Secondary SectionDate: 08/31/2012 APESTrimester 1 Activity # 1- DDT and Pesticides Directions: read carefully each statement and answer it. Watch the following video – DDT and Pesticides, and write a short reflection paragraph about the topic. If you want to see again this video, you can find it on the following direction. We will write a custom essay sample on DDT and Pesticides Directions or any similar topic only for you Order Now http://www. youtube. com/watch? v=LQ64sV0nSVU This video shows how DDT was used in the world to help humans. Later on people started to notice that this pesticide was very strong that was able to kill plagues and insects rapidly that they started using DDT even more. Even though it was helpful in some way it was also harmful. It was harmful because it had a chemical that was not bonding and was the one that made the harmful changes like in frogs that had 5 legs and in humans the harm that was caused was that it created cancer and mutations on people like the boy that was born without eyes. DDT may change in a way some people’s life but it really affects humans and their genes. Go to the following address and watch Biocides: Rachel Carson. http://www. youtube. com/watch? v=vbtp2B-IFmw. Go to the following address and DDT: Weapon Against Disease – Documentary Film (1945) http://www. outube. com/watch? v=RmeqHs4svbQ and write a short paragraph for the most important aspects covered on the video. In the video above it shows the creation of DDT. This particular product is characterized by a white insecticide and was formulated in many forms, it tells that DDT is taseless and almost odourless. It was first created in 1874 and used with gr eat success during World War II in order to control malaria and thyphus within civilians and U. S troops. DDt was also used in agricultural insecticide and later its production. It shows how people were taking advantage of DDT without knowing the harm it would cause. On the following address http://www. naturalnews. com/DDT. html you would be find some articles about DDT and its relation with human health. Choose two articles, read it write a short paragraph. Study shows DDT to be toxic to nervous systems of babies: This article talks about how Africa used DDT to fight malaria spread by mosquitos. It tells how a link between chemicals and the development delays in infants that were in utero when their mother were exposed. An important fact is that despite that DDT was transferred by breast milk, children who were breast feeding developed more normally even though the mother had high levels of DDT. It proves that it is not clear that DDT has ever killed anyone but they are still investigating DDT ‘s effects on humans. High levels of DDT still present in fish: Waters in the U. S still possess high levels of DDT contamination. This shows that the pesticide is still found with high levels in fish caught near Los Angeles area. It is also told that it’s associated with increase risk of liver cancer, and affect the human reproductive and nervous systems, and toxic to many animals, specially aquatic life. All this means that the amount of DDT in fish has not decreased by the last years. It concludes with how many companies have released a large quantity of DDT in water systems. On the following address http://www. epa. gov/aboutepa/history/topics/ddt/01. html you would be find some articles about DDT and its relation with human health. Choose two articles, read it write a short paragraph (Just Read) A sweet relaxing time for you on this weekend, if you like the video games go to the following direction and play it. Write your score. http://www. mofunzone. com/online_games/pest_attack. shtml 7,500 Vocabulary: write the definitions. Bioaccumulation: The accumulation of a substance, such as toxic chemical, in various tissues of a living organism. Takes place within an organism when the rate of intake of a substance is greater than the rate of excretion or metabolic transformation of that substance. Biomagnification: The increasing concentration of a substance, such as a toxic chemical, in the tissues of organisms at successively higher levels in a food chain, As a result of biomagnification, organisms at the top of the food chain generally suffer great harm from a persistent toxin or pollutant than those at lower levels Example of the DDT on food chain How to cite DDT and Pesticides Directions, Essay examples