FAU Marketing Intangible Advantages Innovation and Standards Discussion

1 and 2 are pertaining to marketing 

1- Strategic marketing planning is a creative method for itself. Management and business teams aim to develop and execute practical marketing policies to ensure a stable business flow for a company. Strategic marketing plans focus on the setting that an organization wants to set up for its customers to do business. Plans encompass ideas such as market segments and geographical and demographic target markets. Business plans describe methods that businesses plan to streamline their resources, participate in manufacturing and even deal with their customers. Above all, sound company plans contain strategic marketing plans.

Marketing’s intangible advantages–improvement and brand awareness, education of clients and perspectives on product advantages and strengthening stakeshare–make it a perplexing and difficult process to measure its economic effect. Ideally, the measurement of marketing results should be a logical expansion of the pre-financial year planning and budgeting exert. The objectives that are established should be measurable and relevant to each marketing role in a company. Companies use different methodologies to evaluate and achieve marketing efficiency. Marketing performance metrics or main indicators of performance are not only helpful to marketing experts, but also to non-marketing managers. The Senior management team requires marketing KPIs, from the Chief Executive Officer to the Vice-President, to measure how marketing and expenditure influence the company’s performance. This is especially crucial because businesses are susceptible to cut marketing budgets in financial downturns, decreased size and combinations. Marketing performances measures are helping to assess the degree to which marketing expenses contribute to profit, as marketers face increasing pressure to demonstrate a return on investment. With companies aiming at running slower, more marketing professionals are tasked with showing how marketing produces revenues and adds to the company objectives of company. Marketing measures provide framework for public relations professionals, brand executives and marketing executives to assess marketing efficiency and support their marketing plans and policies. The numerical data not only enables marketers to justify their attempts but also highlights the direct link between commercialization and greater corporate objectives. And thus the marketing plan achieves its strategic goals and objectives.

                                                                               References

-Marketing Management: Knowledge and Skills 15th edition, Kotler and Keller, Pearson, 978-0-13-385646-0

-Publication Manual of the American Psychological Association, 6th edition, American Psychological Association, 978-1-4338-0561-5

2- Hello Dr. Ritter & Classmates!

This year been hard for all of us due to the pandemic, thank God we made to the final week of this course. I wish everyone happy holidays and may God keep blessing us hopefully seeing you guys for another academic year.

I choose to do my marketing on credit repair. As we all know that services that offer credit repair to consolidate credit debt has become an independent and self-sufficient industry. The last recession in the United States has shown a drastic increase in credit repair services industry (Smith, 2012). The rise in unemployment and loss of income has resulted in the need and demand for credit repair services. Add the rise of debt to the equation and payment on bill falling it is a becoming delinquent and it is easy to see why this industry has grown so much.

According to Smith, before the period where people and businesses made less money, many companies saw money owed by people increase to a higher-than-normal causing consumer saving to reach record lows (Smith, 2012). Therefore, the way the world is going, the credit repair industry is looking at funds that will be sure to continue to increase rather than decrease. The main reason for this increase in money owed by people was due to banks giving out home loans to more people, regardless of their ability to repay. Therefore, when the burst of the housing bubble occurred, the ball of money owed started rolling. This has caused for many people to look for alternatives to meet their financial obligations; credit repair services being the most attractive alternative.

The goal of the company will be to hold responsible to the highest standards explained in detail by laws in order to meet client needs in an exact and complete manner. The conditions that the company will create is one that provides a human approach for clients to make sure that are able to continue to prosper in life. The clients that we help grow will always come first in everything, and this will be guided by values and the belief of doing only right by customers. Credit Repair Solutions will offer the highest standards of professional credit repair services to all individuals and companies.

Objectives and Issues

While we are aware that there are many other competitors in the credit repair industry, we have decided to hire some of the best professionals in the business to handle our sale and marketing. We have a strong belief that our marketing any related activities is the lifeline of any business, including ours. As an organization, we will enforce the highest codes of ethics in the workplace. The goal for Credit Repair Solutions is to build a credit repair organization that is the first point of contact for all people and small businesses. We would love to be available, effective, clear, open, and honest to our clients and show them that we want to put their credit back to a healthy status they approve of. To accomplish this, we would need to have some sort of watching and following system in place as well as constant contact to manage any emails sent out.

Reference:

Smith, G. (2012, May 24). Credit Repair Services in the US Industry Market Research Report Now, Available from IBISWorld. Retrieved from http://www.prweb.com/releases/2012/5/prweb9535605.htm

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