RUNNING HEAD: Marketing Question
Researching Marketing Question
University of Phoenix
Researching Marketing Question
The gap between sales and marketing is slowly closing. The rate at which a company can generate demand as well as attracting clients in such a busy world would soon set apart the firms growing rapidly from those maintaining the status quo. It is critical for a company to establish its brand and market their services so as to enable the sales team to make the best out of the limited resources (Smith & Raspin, 2008).
It is advisable for a company to focus on integrated digital marketing services that in return integrated more aspects ranging from lead nurturing to marketing automation. These help in creating high demand and growing brand awareness (Hague, Harrison, Cupman & Truman, 2016).
Following the major increase in revenues from top customers such as ABC Corp, Fish Limited, and Delta Alliance, the company should, therefore, spend time on the activities which generate high returns. When it comes to customer class, Commercial records the highest revenues in both YTD (7,195,592) and QTD (3,719,525). It is followed closely by INTL with 1,535,905 in YTD and 868,634 in QTD.
Municipal takes the third position recording $1,634,643 in YTD and 814,624 in QTD. Education continues to be among the last generating an income of 154,662 in YTD and 84,981 in QTD. From the business growth overview report, it is evident that revenue and growth are directly proportional hence a growth.
To ensure continued growth in such revenues, the marketing cooperating should work on improving the set in place strategies for the high generating income companies since their performance is profitable. For instance, on Customer Rank, Top customers, and customer class. In addition, the marketing analyst should work tirelessly on how to grow the revenues in the bottom firms. For instance, they should revise their strategy or even come up with new strategies and objectives since the ones set don’t work towards the set goals. For the global breakout, the firm should major on the domestic production since it seems to generate more revenue (12,0135,187) than the INTL (1,558,936). Regarding customer Rank, Acquire takes the lead.
However, with such trends, the bottom line firms are likely to pick and generate huge profits in the end. This would be due to the advanced technology, digital marketing, and the company balancing between the bottom line and top line companies to ensure a uniform growth.
Being the SVP, I would gladly build marketing goals a strategy plan. Developing marketing goals is most useful in the discovery phase, which in return helps to shape a business strategy, and guides their idea creation – product, service and brand development. It also takes their most valuable customer insights and transforms them into strategic innovation areas (Kotler, 2013).
It is through the building of marketing goals and strategies that would help one perform a Feasibility that contributes to discovering the customers’ expectations about a particular concept. Secondly, setting strategies and marketing goals helps in Go-to-market: when a company develops a positioning for their product, client insight will contribute to bringing the great ideas about what the target consumer segment expects when launching an individual product and service.
Samsung Electronics is an electronics and information technology company. Samsung is a multinational company with its headquarters in Suwon in South Korea, and its flagship company of the Samsung Group. According to Forbes (2016), Samsung Electronics was founded in 1969 and the CEO of the company is Oh-Hyun Kwon. Samsung Electronics continues to be the second largest electronics company by revenue after Apple. Samsung’s website is www.samsung.com. Samsung Electronics is located in over 80 countries worldwide with their assembly plants and sales networks. Samsung Electronics primary SIC code is 5731 which stands for radio, television and consumer electronic stores while the primary NAICS Code is 443142 which stands for electronic stores. Samsung has circular ownership. According to Forbes (2016), Samsung employs over 235,999 employees worldwide. Samsung Electronics has always been a major company of electronics such as televisions, monitors, printers, refrigerators, washing machines and medical devices. Samsung also manufactures handheld products such as mobile devices, communication systems, computers, and digital cameras.
Samsung Electronics dropped to second in the worldwide smartphone market with shipment declining to 5.2% compared to previous years. According to IDC (2017), in 2016 Samsung shipped about 311.4 million smartphones worldwide, which was down by 3% from previous years. Recent challenges of a recall of Samsung Galaxy 7 caused the Samsung’s worldwide market shares to fall below 20% for the first time in over 4 years. Even with a setback in market shares, Samsung Electronics continues to have profits of $16.52 billion with revenue of $177.29 billion and assets at $206.54 billion. Samsung Electronics continues to be the largest manufacturer for handheld devices and televisions worldwide.
Hague, P. N., Harrison, M., Cupman, J., & Truman, O. (2016). Market research in practice: An introduction to gaining greater market insight.
IDC. (2017, February 01). Apple Tops Samsung in the Fourth Quarter to Close Out a Roller Coaster Year for the Smartphone Market, According to IDC. Retrieved February 05, 2017, from http://www.idc.com/getdoc.jsp?containerId=prUS42268917
Kotler, P. (2013). Marketing insights from a to z: 80 concepts every manager needs to know. Hoboken, N.J: Wiley.
Samsung Electronics on the Forbes Global 2000 List. (2016, May 01). Retrieved February 05, 2017, from http://www.forbes.com/companies/samsung-electronics/
Smith, B. D., & Raspin, P. G. (2008). Creating market insight: How firms create value from market understanding. Chichester, England: John Wiley & Sons.
Click following link to download this document
MKT 571 Week 1 Assignment Researching Marketing Questions.docx