About 'ctu college online'|RIP Colonel Raymond True
Cooperative marketing is the collaborative efforts of two or more companies working together in advertising and promotional efforts to reach the same goal. This is sometimes referred to as co-op advertising, but is also not limited to the advertising arena alone. Typically this is seen when a manufacturer supports the efforts of a retailer, but can also be used by multiple businesses looking to pool their resources to defray costs for advertising and promotion (DiBona, 2009). There is plenty of value to participating in these types of relationships. First, ad costs will be divided between the partnering businesses. For example, when different stores of the same business band together to order product or merchandise, the costs are cheaper for the business and the individual offices. Ordering in bulk usually gives a larger discount. For example, purchasing one mattress for sale at a particular location is most likely going to be more expensive than purchasing ten mattresses for sale. The production of the mattresses would be cheaper if they are made at the same time and shipping would likely be lower if more items are shipped at the same time reducing the initial shipping cost and allowing the delivery to make one stop rather than ten (West, 2008). There are challenges to be considered when approaching a cooperative marketing situation. Both companies must be on the same page when it comes to ideas, promotions, and cash to be made. The marketing purpose must serve both companies accurately and efficiently, as neither brand wants to be compromised by conducting this cooperative effort. Furthermore, there is a certain element of trust and information sharing that must be respected when participating in cooperative marketing efforts. Because the businesses are working together they are seen in the customers eyes as one entity. Trusting one another business to conduct themselves ethically and fairly to customers and employees is an important part to working with one another. For example, if one company involved in the cooperative scheme creates a product that is defective or harms the user, both companies would be labeled as harmful to customers (West). Besides advertising, there are many other creative ways companies can engage in cooperative marketing. Ideally, the creative marketing team is trying to understand how their target market lives and to understand their lifestyle. For example, Old Spice has a target market of men ages 16-24, so their creative positioning includes sponsoring college sports and motor sports. This way, their name is positioned at an event where their target market will be. It doesn't have to necessarily promote a specific product, but the name recognition is strengthened. Activities that reinforce the perceived images of the brand are great ways to have your brand noticed. Disney partners with Hallmark cards to have their characters and icons placed on cards. The pictures stir emotion in customers and motivate purchases and at the same time, Disney icon recognition becomes stronger (Kotler & Keller, 2008, pp. 521). The best way for Global Gadget Imports (GGI) to decide with whom to partner in joint marketing efforts is to gain a clear understanding of the target market and the customers needs. After this has been established, partners can be chosen based on their reputability and compatibility with GGI. Some examples of successful partnerships include the Visa and Marriott travel promotion in 2003. Visa and Marriott recognized that their target marketing included people who enjoy similar things such as travel and upgraded hotel packages. In 2003, the two companies joined up to offer Visa cardholders a 20% discount on Marriott room rates and packages. As a result, Marriott booked more rooms and Visa cardholders made more purchases. The co-op promotion was a success (Visa, 2003). In special cases, products without like qualities have been known to team up for the best effort in marketing or promotion possible. Unilever UK ran a promotion to give free admission tickets to the local Zoo's when the customer purchased a bottle of Persil laundry detergent. This helped the business by reinforcing the value factor for Persil and by bringing admissions into the Zoo with ticket sales (Talking Retail, 2008). Some of the effective cooperative marketing ways that GGI could use in this project include partnering with other companies and businesses with the same goals or similar objectives. My suggestion for cooperative marketing in this case would be to create some kind of partnership with Project (RED). This corporation, established in 2006 partners with many other well-known brands to create a product that will meet the customers needs and help to fund research in Africa to fight AIDS. The brand makes its partnership known by labeling products with their (RED) logo stamp. GGI is a producer of houseware and gift items and could partner on several items such as a cookbook called Flavo(RED). Other items can include a unique red handheld blender which would be similar to the while handheld blender made by GGI, but would make contributions to the Project (RED) campaign (Red, 2008). In conclusion, it is my belief that GGI would benefit greatly from a partnership with Project (RED). This project is recognized by consumers around the United States and the world for offering similar or like products used by many consumers with the additional contribution to the fight against AIDS in Africa. Since GGI is positioning their product to be one that is "green" and helpful to the environment, there is a similar interest between GGI and Project (RED) customers. References: CTU Online. (Ed.). (ca. 2008). Phase 3 Course Material [multimedia presentation]. Colorado Springs, CO: CTU Online. Retrieved April 28, 2009, from CTU Online, Virtual Campus, MKT630 - Applied Managerial Marketing: 0902A. Website: https://campus.ctuonline.edu/MainFrame.aspx?ContentFrame=/Classroom/course.aspx?Class=23719&tid=39 DiBona, J. (2009) Co-op marketing yields more bang for the buck. Retrieved April 29, 2009, from http://www.sandiego.org/article/Media/267 Kotler, P. and Keller, K. (2008) Marketing Management. (13TH ed.). Pearson/Prentice Hall: Upper Saddle River, NJ. Red. (2008) Join Red Homepage. Retrieved April 30, 2009, from http://www.joinred.com/Shop.aspx Talking Retail. (2008) Unilever UK runson-pack Persil promotion. Retrieved April 30, 2009, from http://www.talkingretail.com/products/product-news/11217-unilever-uk-runs-on-pack-persil-promotion.html Visa. (2003) Visa and Marriott offer the Visa escape summer travel promotion. Retrieved April 30, 2009, from http://www.visaeurope.com/pressandmedia/newsreleases/press153_pressreleases.jsp West, T. (2008) Cooperative Marketing: Is it for you? Retrieved April 30, 2009, from http://ohioline.osu.edu/cd-fact/pdf/Cooperative_marketing.pdf |
Image of ctu college online
ctu college online Image 1
ctu college online Image 2
ctu college online Image 3
ctu college online Image 4
ctu college online Image 5
Related blog with ctu college online
- www.doughroller.net/... strictly a distance and online school, with an enrollment...25,000 students. The college focuses on associate of... University (CTU) offers accredited...
- seattleducation2010.wordpress.com/....” In official Pearson PLC reports available online, Susan Fuhrman, President of Teachers College-Columbia University is listed as a non-executive director...
- seattleducation2010.wordpress.com/...on the Charlie Rose website . This week I’ll leave you with the Education Radio program on online learning titled The Reality of Virtual Schooling . Here is...
- worldranking.blogspot.com/... Health Education Programs (CAAHEP). * Next: Strayer University Online MBA Programs
- studentmatchnetwork.wordpress.com/...top-notch education. Selecting a college to attend online can be a harried process, especially...our lists each and every time: CTU, University of Phoenix, and Kaplan. ...
- annadevine.blog.friendster.com/...Angelo been daniel pic Vines abu katiefeymovie matt Michele Lori New amkingdom … College Dardanelle, … bird message pamela what lesbian Local bg shootyz syd masterbating daniel Daniel. daniel...
- aliyakhair.blogspot.com/...nerd), study (nerd. Nerd is great actually), read al-Quran (alhamdulillah), chat, go online, more chatting, taking nap, chat, discussing things, chat...
- johnharmstrong.typepad.com/john_h_armstrong_/...everything for the nation and Jack was it. An agent of the Counter Terrorism Unit (CTU) Jack seemed normal enough in Season One, with his devotion divided between...
- illinoisreview.typepad.com/illinoisreview/...IEA), the American Federation of Teachers and the Chicago Teachers' Union (CTU) have all donated to a significant number of Illinois Republican ...
- gpjanz.wordpress.com/...dubious-mandate-for-its-asset-sales-programme/ NZ – WORKRIGHTS CTU: Fall in ACC levies shows harsh treatment of claims unjustified http...
Related Video with ctu college online
ctu college online Video 1
ctu college online Video 2
ctu college online Video 3
0 개의 댓글:
댓글 쓰기