MARKETING CONCEPTS IN PRACTISE Theseus

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Lahti University of Applied Sciences,Degree Programme in International Business. GR NHOLM TARU Marketing concepts in practise,Case Company X. Bachelor s Thesis in International Business 41 pages 4 pages of appendices. Autumn 2012, The purpose of this thesis is to study what are marketing and business concepts. how marketing and business concepts can be used in designing concept changes. and how the concepts work in practice The thesis is comissioned by Company X. In the theoretical part the thesis covers areas of marketing concepts and business. concepts Marketing concept includes the marketing research market. segmentation and marketing mix The business concept includes business. strategies strategic renewal models brand image and operational concepts of. service business briefly, The empirical part of the thesis consists of a qualitative case study In the study. the case companys concept change was studied under the models introduced in the. theoretical part Data was collected by unstructured interviews. The study shows that marketing concepts are still used in designing new concepts. Key words Marketing concept marketing mix concept change. Lahden ammattikorkeakoulu,Liiketalouden koulutusohjelma.
GR NHOLM TARU Marketing concepts in practise,Case study Company X. Bachelor s Thesis in International Business 41 sivua 4 liitesivua. Syksy 2012,TIIVISTELM, T m n opinn ytety n tarkoituksena on tutkia mit markkinointi ja. liiketoimintakonseptit ovat kuinka markkinointi ja liiketoimintakonsepteja. voidaan k ytt konseptiuudistuksen suunnittelussa ja kuinka konseptit toimivat. k yt nn ss Opinn ytety on Yritys X n hankkeistama, Teoreettinen osuus k sittelee markkinointi sek liiketoimintakonsepteja. Markkinointikonsepti osuus sis lt markkinointitutkimuksen segmentoimisen. sek markkinointimixin Liiketoimintakonsepti osuus k sittelee. liiketoimintastrategioita liiketoiminnan uudistamis malleja tuotekuvaa sek. lyhyesti palvelullisen alan operatiivista konseptia. Opinn ytety n empiirinen osuus koostuu laadullisesta tapaustutkimuksesta. Tutkimuksessa tutkitaan kohdeyrityksen kokemaa konseptimuutosta teoreettisen. osuuden kuvaamien mallien pohjalta Tutkimustiedon keruu suoritettiin. ep muodollisilla haastatteluilla, Tutkimus osoittaa ett markkinointikonsepteja ja markkinointimixi voidaan. k ytt konseptiuudistuksen suunnittelussa, Asiasanat markkinointikonsepti markkinointimix konseptiuudistus.
1 INTRODUCTION 1,1 1 Background of the thesis 1,1 2 Study objectives and research questions 1. 1 3 Limitations of the thesis 2,1 4 Theoretical framework 2. 1 5 Research methods 3,1 6 Structure of the thesis 4. 2 MARKETING CONCEPTS 5,2 1 Marketing strategy 5,2 2 The marketing concept 5. 2 3 Marketing research 5,2 4 Market segmentation 6.
2 5 Marketing mix 6,3 BUSINESS CONCEPTS 15,3 1 Business concept 15. 3 2 Business strategy 15,3 3 Strategic renewal 16, 3 3 1 New core business vs a face lift of the old 16. 3 3 2 Blue Ocean Strategy 17,3 4 Brand image 18,3 4 1 Positioning 19. 3 4 2 Brand identity prism 20,3 4 3 Brand crystalising 20. 3 5 Operational concept of service business 20,4 SHOE RETAIL INDUSTRY 22.
4 1 In Europe 22,4 1 1 Consumption 22,4 1 2 Buying habits segmentation and trends 23. 4 2 In Finland 24,4 2 1 Consumption 24,4 2 2 Buying habits segmentation and trends 26. 4 2 3 Competitors 27,5 CASE STUDY COMPANY X 32,5 1 Company X chain in brief 32. 5 2 Company X in brief 32,5 3 Towards the concept change 33. 5 3 1 Target customer groups 34,5 3 2 Product range 34.
5 3 3 Store outlook face lift 35,5 3 4 From design into practise 36. 5 3 5 Marketing procedures 36,5 3 6 Online store 36. 5 3 7 Competitive advantages of the new concept 37. 5 4 The concept change in Company X 38,6 CONCLUSION AND RECOMMENDATIONS 39. 6 1 Conclusion 39,6 2 Reliability and validity 40,6 3 Suggestions for future research 40. 7 SUMMARY 41,REFERENCES 42,LIST OF FIGURES,FIGURE 1 Research framework 2.
FIGURE 2 Structure of the thesis 4, FIGURE 3 The 4 P s of marketing Adapted from NetMBA 2010b 7. FIGURE 4 Intergrated marketing communications 12,Adapted from on Anttila et al 1993 236. FIGURE 5 Value Innovation BOS 2012b 18, FIGURE 6 Shoe sales in Finland 2011 PTY 2012 33 26. LIST OF TABLES, TABLE 1 EU consumption of footwear 2004 2008 million millions of pairs. CBI 2010 6 23,TABLE 2 Shoe sales 2006 2011 25,Adapted from PTY annual reports 2007 2012.
TABLE 3 Hypermarket SWOT analysis 28,TABLE 4 E commerce SWOT analysis 29. TABLE 5 Shoe retail stores and chains SWOT analysis 31. 1 INTRODUCTION,1 1 Background of the thesis, Marketing concepts are built and developed to satisfy the needs and wants of. customers In the competitive fashion industry companies are forced to put more. effort and thought into their marketing plans and means of attracting the. customers in the first place, The fashion industry has grown massively in the past couple of years Younger. generations are grown in an era where appearance is seen as an asset People are. constantly in touch with fashion Magazine stands are filled with fashion. magazines and television is filled with makeover shows where people with bad. appearance are groomed to be more attractive As media feeds us with laws of. looking good people are spending more money on their own appearance As the. target markets have grown so has the industry, As competition has become harder businesses are forced to get back to the basics. business and marketing concepts The importance of functioning marketing has. raised its head partly due to stiffeningcompetition and partly to tightening. economical situation Identifying target customers and their needs is crucial for. both the customers and the businesses wallet, Work as a sales assistant in Company X has caught the author s interest to.
conduct a study related to the footwear industry in Finland and to study the. importance of business and marketing concepts in today s markets. 1 2 Study objectives and research questions, The scope of the study is to recognize what marketing and business concepts. consist of and how those concepts can be used and utilized to meet changing. customer preferences more effectively, The main study objective is to analyse the steps taken in the concept change. carried out in Company X in accordance with the marketing and business concept. Research questions asked are,What are marketing and business concepts. How can marketing and business concept be utilized by companies. How do the concepts work in practice,1 3 Limitations of the thesis. The thesis does not include economical matters related to marketing and business. concepts in general nor in the case companys case Figures budgets costs. profits concerning the conceptual changes carried out in the case company are. also not studied The thesis mainly concentrates on the steps taken in the process. of renewing and building a new business concept,1 4 Theoretical framework.
The thesis includes theory of marketing and business concepts Figure 1 shows the. research framework for the theoretical part of the thesis It describes the. relationship between basic concepts, Market knowledge Business knowledge Customer satisfaction. research strategy,segmentation strategic renewal Competitive. marketing mix brand image advantage,FIGURE 1 Research framework. In addition to marketing and business concepts the theoretical part of the thesis. briefly covers the footwear industries in Europe and in Finland. In the theoretical part of the thesis written sources of books and articles as well as. internet sources are used as references in the research process. 1 5 Research methods, The empirical part of this thesis consists of a qualitative case study of a shoe retail. store Company X The study is deductive in nature as the case company is studied. on the grounds of the common marketing and business concept models. In this study unstructured interviews and conversations were used to obtain a. wider picture of the concept change and the means taken to conduct the change in. the case company In addition as the author is an employee at the case company. participant observation could also be used as a data collection method. Unstructured interviews are direct interactions between the researcher and the. respondent Although the researcher may have some initial guiding questions or. core concepts the researcher and the respondent may freely move the. conversation in direction of interest However the data collected through. unstructured interviews may be harder to analyze as every interviewing situation. is different and conversation topics can vary Trochim 2006. Participant observation is one of the most common and demanding methods of. qualitative methods In participant observation the researches becomes a natural. part of the group culture and context observed With participant observation a. clear picture of a natural phenomenon can be obtained However usually this. takes years as it is hard for the researcher to become a natural part of an existing. group Trochim 2006, In this study however the researcher is already a part of the observed group as.
the researcher has worked in the case company for nine months Before working. in the case company the researcher worked at former Andiamo Trio in Lahti. present KOOShoes Karisma Lahti for 11 months The researcher has been a. part of the concept change process in both stores In addition to unstructured. interviews and participant observation chain handbook was used as a source. 1 6 Structure of the thesis, The thesis consists of seven chapters as shown in Figure 2 Chapter 1 is an. introduction to the thesis followed by the theoretical part in chapters 2 3 and 4. Chapter 5 begins the empirical part of the thesis with an introduction to the case. company followed by the study of the new concept of the case company Chapter. 6 consist of the the conclusions and suggestions of the study followed by Chapter. 7 which concludes the thesis as a summary,Chapter 1 Introduction. Background Objectives Research questions Limitations Research methods Structure. Chapter 2 Basic concepts in marketing, Marketing strategies Marketing concepts Marketing research Segmentation Marketing. Chapter 3 Business concepts, Business concepts Business strategies Strategic renewal Brand image Operational. 3 concepts,Chapter 4 Shoe retail industry,Industry in Europe and in Finland.
Chapter 5 Case Company X, Company X chain in brief Company X in brief Towards the concept change From design. 5 to practise,Chapter 6 Conclusion and recommendations. Conclusion Reliability and validity Suggestions for future research. Chapter 7 Summary,FIGURE 2 Structure of the thesis. 2 MARKETING CONCEPTS,2 1 Marketing strategy, Marketing strategy beholds businesses all marketing goals Marketing strategy is. ideally built around market research to create an ideal product mix to achieve. maximum profit potential Business Dictionary 2012a Marketing strategy is. stated in businesses marketing plan which can be product specific market specific. or company wide plan Organizations market plan illustrates activities to be taken. in achieving the businesses marketing objectives in a specific timeframe First. step to market plan is to perform a market research to identify specific customer. needs and steps to fulfill them while generating profit Analysis of current market. situations action programs budgets sales forecasts strategies and financial. statements are also included Business Dictionary 2012b. 2 2 The marketing concept, The marketing concept is a philosophy which states that the key to achieving.
goals is to determine the needs of the target customers and to satisfy those needs. more efficiently and effectively than competitors The marketing concept does not. target to maximize profitable sales volumes but to generate profits through. customer satisfaction Therefore the emphasis is not solely on selling products. but on selling satisfaction Chopra 2012 239 240 The marketing concept resorts. to marketing research which defines the market segments the size of segments. and the needs of the segments In order to satisfy the needs of the target markets. the marketing mix can be used to create a strategy NetMBA 2010a. 2 3 Marketing research, Marketing research is a method of obtaining a wide range of information and. activities necessary to run a business Marketing research covers gathering. recording and analysis of information about transfer and sale of goods and. services from producer to consumer The objective of marketing research is to. offer analyzed facts and knowledge in order to over come problems and to make. the right marketing decision at a right time Every company must research its. markets customers and competition in order to go in the right direction and be. profitable Continuous monitoring is the key in staying in the right course as. markets can change rapidly and customer preferences and needs may shift away. from the previous results Chopra 2012 242,2 4 Market segmentation. A market holds a large number of individual customers who have different needs. preferences and buying habits and capacities Market segmentation is the division. of this total market into different customer groups Each customer group has. GR NHOLM TARU Marketing concepts in practise Case study Company X Bachelor s Thesis in International Business 41 sivua 4 liitesivua Syksy 2012 TIIVISTELM T m n opinn ytety n tarkoituksena on tutkia mit markkinointi ja liiketoimintakonseptit ovat kuinka markkinointi ja liiketoimintakonsepteja voidaan k ytt konseptiuudistuksen suunnittelussa ja kuinka konseptit toimivat

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