This means that a company should create a brand after acknowledging the influence of economic forces on any given marketing environment. In the contemporary business environment characterized by economic forces created by free enterprise, a company’s brand has proven to play a substantial role in ensuring accomplishment of marketing objectives. Therefore, modern managers should develop reliable skills of initiating and developing a company’s brand. In the context of Phil Company, we will strive to create a brand that deems appropriate for the company’s marketing strategy. From a theoretical perspective, creation of a brand starts at the definition stage whereby a manager defines what a company’s brand should mean to all the interested stakeholders. Upon defining a company’s brand, the responsible manager determines clear objectives meant for that company (Julian, 2011). Based on the business profile of Phil Company and the prevailing marketing forces in the electronics manufacturing industry, Phil can develop a concrete brand by articulating marketing research information into their decision making processes. Research information helps in brand creation because it highlights the key stakeholders and their respective expectations with respect to the company’s marketing practices. In the context of Phil Company, research findings show the expectations of selected market segments. After an accurate definition of the brand, the next step should involve specifying the intended objectives of that brand to the interested stakeholders. A typical brand should communicate the intended message to the target audience(Peter, 2004). A brand should create a vivid perception of a company’s products’ qualities and uniqueness. Phil Company emphasizes the need to differentiate their product with respect to the element of competition in the industry. As a result, the brand developed will influence the target audience at an emotional level. The content of the created brand should achieve a feeling of connection to the consumers. In addition, Phil can achieve loyalty among the consumer population by engaging in the house of brands. In order to reach all its target audience, Phil Company will engage in active brand positioning, both at the domestic and the international market environments. Brand positioning can be achieved through the use of advertisement channels like the media, both television and print, or through the internet. Employment of these modes of advertisement will facilitate substantial positioning of Phil’s brand in both markets (Peter, 2004). Product pricing is another essential element in marketing. In a competitive environment characterized by the typical forces of free enterprise, product pricing is influential in a company’s marketing process. A business environment enjoying the economic aspect of free enterprise allows easy entry and exit from any product industry. In this regard, the electronic products industry in the US and at the international level has numerous competing manufacturers. Therefore, Phil has to consider the influence of pricing during the development of their marketing strategy. Phil chooses to adopt three pricing strategies that can facilitate the development of comprehensive pricing principles. The first pricing strategy adopted by Phil is
PHIL COMPANY II Name: Course: Tutor: Date: This essay entails the development of a comprehensive marketing plan. At this stage, we will evaluate the final steps required of an effective marketing strategy. Marketing comprises of numerous interrelated activities all aimed at developing a concrete distribution and retail strategy…
Ford Motor Company (Ford) is touted in amongst the largest automobile manufacturers’ world over. The company owns brands like Ford, Lincoln, Mazda, Mercury and Volvo, is present in six continents round the globe and has its presence in 200 countries. Here we analyze some of the strengths and weaknesses of the company The Strengths of the Ford Ford has a very strong brand portfolio from which it draws most of its competive advantage.
Ford Motor Company, which was established in the year 1903 by Henry Ford in Detroit, meets the requirement. Ford Motor Company, is the second-largest automobile company, and represents $164 billion international business domain. This leading international company has 224,000 employees worldwide and has 90 plants globally.
Therefore, the core dynamics of Toyota’s marketing which consist of its supreme quality testing, innovation, and its supreme ability to attract a solid customer base. One of the main components of Toyota’s marketing strategy is to focus on supreme quality testing.
All these companies in the electronics industry produce almost similar products. Therefore, the aspect of marketing determines the competition of the limited market share, both in the US and overseas (Julie & Claire, 2011). Phil has to employ effective marketing strategies in order to acquire a substantial market share.
Currently, the company boasts of exponential growth realized over the years, attracting millions of consumers in more 17000 locations in more than fifty countries across the globe. The company’s logo gets its inspiration from the sea. The logo features a twin-tailed siren from the mythology of the Greeks.
One of its latest innovations includes “New Water Management Program for Netherlands” as on Jun 25, 2013. The company has its business operations flourishing in more than 170 countries, and it also has 70 branches and subsidiaries in total. The branching out of the company leads to international geographic allocation of profits for IBM.
The largest and most recent merger was with Northwest Airlines in 2010. Richard H. Anderson is the CEO of the Delta, and Edward Bestian assumes the role of company president. The company is headquartered in Atlanta, Georgia, United States.