Marketing

A value proposition is basically a service, a feature and or an innovation that has the sole intention of making the products of a certain company very attractive to the intended consumers. The value proposition of Caterpillar earth movers is the assurance of having high standards than the normal competition. Caterpillar Company uses the latest technology in terms of the solutions they have which in return have a positive impact on the objects used in earth movement solutions in every corner of the world (Armstrong et al., 2015).  The machinery used for drilling applies the latest technology also and which are computerized to ensure that they have good and quality results. Apple iPod device is a device that delivers flexibility and quality when it comes to entertainment. Compared to other devices, Apple iPod has the best in terms of workability and the technology behind the manufacturing part of it is attractive.

Customers are pulled towards the products due to its affordability and the idea of the product being of high quality. Facebook has the best when it comes to connecting to billions of people around the world today. The site can be used as a business platform to reach millions of customers all around the world and it is all free. McDonald’s hamburgers are products that are consistent when it comes to satisfying customers making it easier and attractive to have the products anytime. Customers are attracted to the essence of having the best from the best company (Armstrong et al., 2015). FedEx overnight service delivery is convenient to its customers through being fast and very precise when it comes to delivering urgent requests. The company spends less time on delivery therefore convenient for its customers.

Samsung is one of the greatest companies in the world that offer quick and reliable solutions when it comes to mobile devices and the home appliances. Samsung as a company has invested a fortune in understanding the elements of value chain making it a reliable company that serves millions of people around the globe (Michell, 2010). Understanding customer requirements is essential for a business. Research and development have enabled the company to grow significantly. Getting to understand what customers want from a simple device is very important for success. The design of the products manufactured by Samsung is very attractive and market oriented. The products developed must be of high quality whereby they are tested, well defined and sent out into the manufacturing plants for production. Finally, Samsung has invested in making sure that the products sent out into the market are of quality standards and desirable to the users (Michell, 2010). Marketing of the products is done to specifically assure the customers that the products are user-friendly and this makes the products demand rise. Marketing at Samsung is done aggressively making it known to many compared to its closest competitors who do not do an aggressive marketing of their products.    

Managers should engage both the big and small m in their marketing plan. Both of these elements assist in making sure that one is equipped with the needed elements in the market. In every business, the small and big markets matter most since the small markets will soon rise and grow into big markets which will create a pull of resources for the current managers to succeed in the marketing plan. The strategies used should not harm the level and the capability earning of the company (Armstrong et al., 2015). Use of the best tactics such as entry into the market through the small markets is a successful tactic that will enable the growth into a bigger market. Strategies tend to push the cost of production to higher levels if not well planned. Also, it is expensive not to use the best tactics to enter the market. Delayed and low returns will be the outcome of investing in tactics.

A firm that is a prospector in the market today is, for example, the 3M Company. 3M uses the Prospector strategy to its benefit by being the most innovators in the world of major corporations. Creativity is highly encouraged in order for the company to remain among the first companies in the world. BIC Company is a good example of a company that uses the defender strategy. Protecting the innovations the company made in the past decades has been the main concern for the company. The biro pens developed by this great company have been used over the years and the company is working on improving the customer satisfaction on a daily basis. IBM has been operating for many years and has heavily invested in analyzing its products. The already developed computers are always improved in terms of quality and the customers are provided with ways of improving from the old systems to new systems (Shoham and Lev, 2015). A reactor strategy kind of market strategy is the one used by International Harvester company which never invests in research and development but shifts according to the demand making it a poor strategy. International Harvester applied this strategy but never anticipated for the demand of its products making it lose out in the market.   

The introduction of many other theme parks in Orlando will greatly affect the company economically since it will create competition and therefore the more the choices for the customers the lower the demand for specific parks. Political instability is an example of a step that is most likely to impact the entertainment levels at the park. Instability always calls for lack of peace and freedom, therefore, impacts negatively on the parks (Lillestol et al., 2015). Social factors, for example, the growth of the demand for improved services will affect the company. Society in the near future will be full of new and motivated individuals who want nothing but innovations.   The current technology at the theme parks will need to be improved in the future to accommodate more people and similarly make it more interesting for the customers. The legal framework is also very likely to affect the park. For example, as the park grows the taxation rate will also increase significantly.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References

Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Pearson Education.

Lillestol, T., Timothy, D. J., & Goodman, R. (2015). Competitive strategies in the US theme park industry: a popular media perspective. International Journal of Culture, Tourism and Hospitality Research, 9(3), 225-240.

Michell, T. (2010). Samsung Electronics and the struggle for leadership of the electronics industry. Singapore: Wiley.

Shoham, A., & Lev, S. (2015). The Miles and Snow Strategic Typology and its Performance Implications. In Global Perspectives in Marketing for the 21st Century (pp. 214-220). Springer, Cham.