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The New Marketing Realities:

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals.

Major Societal Forces:Marketing activity are the very important part of the total business structure and interlinking of societal forces that have created new behaviors , new opportunity, and new challeges. For instant a country is made up of a group of people which are identified as the society. A country as a whole is also divided into mini or sub-cultures which reflect the above mentioned forces. Likewise, the USA is one country or one nation with 50 states. The people of the northern states may speak a bit differently as related to accents than those who reside in the southern states. Also; the thinking with regard to certain issues may be different from one state to another which results in cultural differences between states in one country.

Network Information Technology:Stands for "Information Technology," and is pronounced "I.T." It refers to anything related to computing technology, such as networking, hardware, software, the Internet, or the people that work with these technologies. Many companies now have IT departments for managing the computers, networks, and other technical areas of their businesses. The digital revolution has created an information Age. It is about the beginning of the new envoirment in marketting. It was characterise by mass consumption, stores stuff with inventory, everywhere and rampat discounting. This information age provide more accurate products, and more targetted information and relavent pricing. That means the term "IT," already highly overused, is here to stay.

Globalization:Globalization is the system of interaction among the countries of the world in order to develop the global economy. Globalization refers to the integration of economics and societies all over the world. Globalization involves technological, economic, political, and cultural exchanges made possible largely by advances in communication, transportation, and infrastructure. Hence, advanced technology has created different ways of marketting. Technology has improved transportation and communication and made easier to buy products and services from marketers to other countries.

Deregulation:Deregulation is when the government seeks to allow more competition in an industry that allows near-monopolies. For example, in the 1990's, the electric utility industry began to be deregulated to allow competition.

Privatization:Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned enterprises may be lifted. Services formerly provided by government may be contracted out.

Heightened Competition:The brand manufucture facing the intense competion with domestic and foreign brand, this result in rising promotion costs and decreasing the profit marketing . many different companies also provide the same thing in less cost, that is why increasing the competion between the companies.

Industry Convergence:As industry convergence creates new market opportunities, companies are faced with the challenge of getting more out of their sales operations. They have several alternatives: Selectively change various elements. Undertake a comprehensive and continuous improvement.

The first has less risk and less impact. The second has more risk but a leapfrog effect on potential benefit.

New Consumer Capabilities:There is a lot of change in the buying pattern between the past and present consumers. There is a substantial increase in the buying power of the customers ,they have become more aware about products due to the information they gather, the ability to compare on products and services, voice to influence peer and public opinion.

Substantial increase in buying powers:Buyers today are only a click away from comparing competitor prices and product attributes on the internet. They can get answer on the internet in a matter of seconds. They dont need to drive to stores, park, wait on line and hold discussion with salespeople. Business buyers can run a reverse auction where sellers compete to capture the business.

Greater variety of available goods and services:The degree to which a demand or supply curve reacts to a change in price is the curve's elasticity. Elasticity varies among products because some products may be more essential to the consumer. Products that are necessities are more insensitive to price changes because consumers would continue buying these products despite price increases. Conversely, a price increase of a good or service that is considered less of a necessity will deter more consumers because the opportunity cost of buying the product will become too high.

Great amount of information about practically anything:A giant amount of information available in the newspaper. People can read almost any newspaper in any language from anywhere in the world.

Greater ease in interacting and placing and receiving orders:Modern day marketing should focus seriously on customer retention, and this implies giving great customer services. This is the because the new marketing economy has become such that it is very easy to lose customers and thus get out of business.

New Company Capabilities:New forces also have combined to generate a new set of capabilities for todays companies: The ownership structure of companies. The companys competences that are needed to compete effectively in the marketplace. Developing credibility and trust

The design of the management and organization structure. Strategic alliances. Access of professional advisors. Responding to queries about your services or products For use on your website.

Marketing Management Tasks:The core concepts and others provide the input for a set of tasks that make up successful marketing management is given below: Developing Marketing Strategies and Plans Capturing Marketing Insights Connecting with Customers Building Strong Brands Shaping the Market Offerings Delivering Value We will use these concepts to illustrate the marketting management tasks.

Developing marketing strategies and planes:The first task facing Atlas is to identify its potential long-run opportunities given its market experience and core competencies. Atlas can design its cameras with better features. It can also considering a line of video cameras or it can use its core competency in optics to design a line of binoculars and telescopes. Whichever direction it chooses, it must develop concrete market plans that specify the marketing strategy and tactics going forward.

Capturing marketing insights:-

To understand what is happening inside and outside company, Atlas needs a reliable marketing information system; it will want to closely motor its marketing environment.

Atlas's microenvironment consists of all the players who affect the company's ability to produce and sell cameras-suppliers, marketing inter diaries, customers, and competitors. Its macro environment consists of demographic, economic, physical and social-cultural forces that affect sales and profits.

Connecting with customers:Atlas must consider how best to create value for its chosen target markets and develop strong, profitable, long-term relationships with customers. How many households plan to buy cameras? Who buys and why do they buy? What are they looking for in the way of features and prices? Where do they shop? What are their images of different brands? How does the digital segment differ from the 35 mm segment? Atlas also sells cameras to business markets, including large corporations, professional firms, retailers, and government agencies. Purchasing agents or buying committees make the decisions. Atlas needs to gain a full understanding of how organizational buyers buy. It needs a sales force that is well trained in presenting products benefits.

Building strong bands:Atlas must understand the strengths and weakness of the RPL brand with customers. Is it so strongly associated with certain technologies that it could not be used to brand new products in related categories? Is its 35mm film heritage a detriment in the digital camera market? Suppose Atlas decides to focus on the consumer market and develop a positioning strategy. Should Atlas position its cameras as the Royal? Brand, offering superior cameras at a premium price with excellent service and strong advertising? Should it build a simple, low-priced camera aimed at more price-conscious consumers? Should it develop a medium-quality and medium priced camera? After launch the products strategy will need modification at all different stages in the product life cycle: introduction, growth, maturity, and decline. Furthermore, strategy choice will depend on whether the firm is a market leader, challenger or follower. Atlas must also pay close attention to competitors, anticipating its competitors moves and knowing how to react quickly and decisively. It may want to initiate some surprise moves, in which case it needs to anticipate how its competitors will respond.

Shaping the market offerings:At the heart of the marketing programs is the product the firms tangible offering to the market, which includes the product quality, design, features, and packaging. As part of its product offering, Atlas may provide various services, such as leasing, delivery, repair, and training. Such support services can provide a competitive advantage in the global marketplace. A critical marketing decision relates to price. Atlas has to decide on wholesale and retail prices, discounts, allowances, and credit terms. Its price should be commensurate with the offers perceived value; otherwise, buyers will turn to competitors products.

Delivering value:Value may be the most overused and least understood of all words used in professional practice. Clients will fault firms for not living up to their value expectations. Employees will often blame management for not establishing compelling value propositions. Contractors will share their disappointment with the design firms lack of management savvy. Growth and satisfaction in professional practice is not sustainable unless value is delivered and showcased both inside and outside the firm.

Communicating value:Atlas must also adequate communicate to the target market the value emboided by its products and services. It will need an integrated marketing communication program that maximizes the individual and collective contribution of all communication activities. Atlas needs to set up mass communication programs consisting of advertising, sales promotion, events and public relations. It also needs to plan more personal communications, in form of direct and interactive marketing, as well as hire, train, and motivate salespeople. Many people believe that value is part of what you make, that somehow there is such a thing as a natural fair price. We know as consumers this is not true, otherwise we would not pay for expensive spring water that is not as pure as what comes out of our tap. Yes, diamonds have a romantic benefit, but it is all in the mind.

Creatin long-Term Growth:This is the rate of inflation in a conservative investment analysis. The expectation is that company revenue estimates will not surpass the inflation rate into the long term. The strategy should take into account changing global opportunities and challenges. Finally, Atlas must build a marketing organization thats capable of implementing the marketing plan. Because surprises and disappointments can occur as marketing plans unfold, Atlas will need feedback and control to understand the efficiency and effectiveness of its marketing activities and how it can improve them.