Friday, February 21, 2020
Mazda Positioning a Product Line - Essay Example But over years companies have recognized the importance of being closer to the customers. Marketers identified the importance of emphasizing the process of communication and the channels used for communicating. This led to the emergence of IMC. IMC is all about strengthening the relationship of the brand with the consumers. This is where communication plays the lead role. (Karthik, 2003) Marketing communication is aimed at retaining customers than to acquire customers. A more advanced form involves selecting customers whereby the most prospective customers are identified. (Smith & Taylor, 2004) The importance of marketing communication is evident from the way marketers and management experts view the advertisement. There was a period when advertisements were criticised and portrayed as a social evil. But nowadays, companies approach advertising as a long-term investment. (Stanley et.al., 1992) This marketing report is aimed at analyzing the product positioning efforts done by Mazda. The case is analyzed in detail in the report. The main intention of the report is to study and analyze the various IMC concepts used by Mazda in the various product positioning efforts. The new marketing effort was a very big challenge for the company because it involved changing the total customer perception of a product. Television ads are one of the most effective tools of IMC. TheÃ Internet is another powerful tool for marketing. (Richards & Brown, 2006) A company that intends to establish or re-establish a brand can depend usually on these prominent sources of advertising. (Shimp, 2007) It is necessary that the advertisement should be appealing to the target audience. An ad that is targeted at a particular group should contain those message and information that are appealing to them. MazdaÃ¢â¬â¢s intention of re-branding ProtÃ ©gÃ © was to position it as a car for young enthusiasts. Women usually spend aÃ lot of time in front of theÃ TV. This was the reason why Mazda chose to use theÃ TV for the new ProtÃ ©gÃ © ad. Mazda wanted to place the car in the minds of the customers as a car that can be used for hang out and also for fun drive.
Wednesday, February 5, 2020
Capital One - Essay Example On December 04, 2008, Capital One acquired a well known bank called Chevy Chase Bank. As per the deal, Capital One purchased the bank by paying $445 million in cash and 2.56 million shares of Capital One worth $75 million (Gaithersburg Local, 2008). Companies are directly affected by the external environmental forces that consist of political, economic, legal, social and technological elements. Changes in these external forces directly affect the company which necessitates it to modify the corporate strategies accordingly. In 2008-09, the world economy was shaken by a recessionary turmoil and the financial sector was the worst hit. Functioning exclusively in the banking business, the company is at a high leveraged state. When market conditions are favorable, their revenue as well as profitability increases quite rapidly but when the market conditions are hostile, the company faces a sharp fall in business. The economic condition has revived in the developing countries but the developed countries like UK and US will take more time to come out of this economic shock. Therefore economic condition is one of the vital forces that Capital One needs to consider. In terms of technology, Capital One enjoys a sound position. The political condition is quite stable in US hence this will not be a major concern. After the economic recession in US, the government is in the process of introducing certain changes in its legal framework to exercise a better control on the financial market. Hence, Capital One will need to understand the changes in the legal policies and should make the desired modification. Apart from the above mentioned forces the competitive force prevailing in the US market needs to be taken into consideration by Capital One. The retail banking industry is highly attractive which lures new entrants into this industry. The lenient strategy maintained by the government of US is an added advantage for the new entrants. The new entrants have not only