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MKTG 205 Principles of Marketing
MKTG 205 Principles of Marketing
Order ID 53003233773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
MKTG 205 Principles of Marketing
May 3, 2014
Abstract
The article’s focus is on how marketing laundry tablets and home dry-cleaning kits have reported success in spite of the past failures. It addresses the aspect of product differentiation through combination of a fabric softener and the laundry sheets as one of the best strategies to overcome various market forces.
Market Forces and Strategies to Overcome Threats and Capitalize on the Opportunities
Introduction
Marketing managers have a key role to play in marketing different products within the industry of their focus, and the strategies they implement to overcome various marketing forces matter the most. This paper will focus on marketing forces to overcome and strategies for overcoming them, as well as threats and strategies to capitalize on the opportunities based on the laundry detergent product described by the article selected from the industry.
Market Force 1: Political and regulatory forces
Different states have a set of rules and restrictions that regulate the manner in which businesses in any industry conduct business, primarily for the purpose of protecting consumers, the environment, and other businesses. For example, according to the article selected, marketing managers have raised their concerns over the ban on some powdered detergents by authorities in some states citing environmental concerns. Nonetheless, the laundry industry will launch more concentrated powders that are environment friendly, as well as shift to more concentrated liquid laundry detergents. This strategy is expected to decelerate the decline of the powder and liquid detergents. Also, compliance to the set rules and regulations will help marketers in the long-term (Ferron, 2011).
Market Force 2: Competition
Product marketing requires a marketer to play a winning game against the competitors in the industry, essentially when their products are targeted on the same population. Additionally, producers of competing brands and the producers of substitute products must come up with strategies to overcome this marketing force so as to capture a fair market share. As much it’s quite evident that competition is often beneficial to the consumer in terms of quality and choice, producers of the competing products must always come up with strategies to overcome the competition. Neff, 2010, cites that intense product marketing and promotions, such as shifting spending on conventional marketing to the use of online ads will suffice to increase the awareness about a product, as well as its demand and consumption (Ferron, 2011). Other strategies include development of strategies based on your cost or product strengths, such as outsourcing manufacturing to a lower cost producer if a producer cannot reduce its own cost base. This strategy will help a business in the detergents industry to overcome price competition. Introduction of new detergents will also guarantee marketing success (Neff, 2010).
Market Force 3: Technological forces
New technologies are not only bound to help improve the quality of laundry detergents, but also increase the amount of the product produced to complement the increasing demand in the industry. New technologies can transform the marketing mix in another significant manner: they alter the way businesses market their products. Neff, 2010, asserts that producers in the detergents industry must capitalize on technologies that bring about product differentiation like the introduction of new form power gels.
Strategies to Overcome the Threats
Regardless of how long a business has been in the laundry detergents industry, looking out for marketing strategies to handle threats is key. According to McCoy, 2012, product enhancement, distribution realignment, rebranding and pricing work best for nearly every company in all industries.
Strategies to Capitalize on the Opportunities
Businesses in the laundry and detergents industry are often presented with great opportunities that can be helpful circumstances over and beyond the ordinary rules of competition. For instance, watch for promising startups, assessing the competition for gaps in production and marketing of laundry detergents, as well as the assessment of the company’s web-based marketing opportunities are some of the best strategies that help businesses to capitalize on the available opportunities (Neff, 2010).
Conclusion
Essentially, marketers are more like the pillars of success in nearly every industry since they must come up with strategies to overcome various marketing forces and threats, as well as strategies on how to capitalize on the existing or anticipated market opportunities. Product differentiation through the use of advanced technology will help businesses in the laundry detergents industry.
References
Ferron, Y. (2011). Laundry Upgrade. ASHRAE Journal, 53(11), 44-50.
McCoy, M. (2012). Selling Detergents One Load At A Time. Chemical & Engineering News (00092347), 90(4), 15-19.
Neff, J. (2010). New laundry forms helping marketers clean up. Advertising Age, 81(21), 4.
MKTG 205 Principles of Marketing
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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