Marketing Management Concepts

This assignment delves into core marketing management principles. It requires students to analyze various texts covering topics like the service-dominant logic of marketing, STP marketing, data mining techniques, and international marketing. The focus is on understanding key concepts from renowned authors and applying them to contemporary marketing challenges.

Marketing Case Study

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Analysing the decisions that need to be implemented in creating an integrated marketing
communication plan....................................................................................................................1
TASK 2............................................................................................................................................4
Evaluating ways to measure the effectiveness of a B2B IMC plan............................................4
TASK 3............................................................................................................................................6
Four key perspectives developed in balanced score card and their importance in developing
business strategies.......................................................................................................................6
TASK 4............................................................................................................................................8
Importance of STP process in B2B marketing for Viking office products.................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing refers to commercial activities that are associated with buying and selling of
product and services in potential market. Through this management process the company is able
to communicate with its targeted audience. Business to business marketing is another branch of it
where sale of one enterprise product or service is conducted with other. The concept is little
different from consumer marketing as here the buyers make purchasing decisions on price and
profit potential alone. In order to evaluate the impact of integrated marketing communication on
B2B marketing the business operations of Viking office products will be examined closely. It is a
global company established in 1960 and is the largest suppliers of office stationary in the world.
The services provided by concerned company relies on sophisticated computerized mailing
systems to send catalogues to its potential clients (Churchill and Iacobucci, 2010).Viking avails
its services widely to small and big business enterprises therefore it adopts B2B marketing
concept.
TASK 1
Analysing the decisions that need to be implemented in creating an integrated marketing
communication plan
Advertising and promotion are essential techniques to attract new and existing customers
towards a product. In today's modern world, marketing team of any organisation does not
concentrate on only one channel of marketing technique. It is essential for business enterprises
to promote their brand in order to increase awareness among individuals and eventually rising
their sales. Viking office products first identify individuals that best suit to purchase goods and
services, then effective communication take place to influence their purchasing power. It uses
different modes like advertising, direct marketing, personal selling, sales promotion, social
media and many more.
Integrated marketing communication refers to integrating different methods of brand
promotion to promote a particular product or service among target customers (Zeithaml, Bitner
and Gremler, 2010). It makes extensive use of all aspects of marketing communication channels
for increased sales and maximum cost effectiveness. There are various components of integrated
marketing communication that helps to achieve set marketing targets:
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 Foundation stone: According to this element, at first Viking office products makes
detailed analysis of both product and target market. It is important for marketers to
identify and understand the brand, its offerings and end-users. The focus on determining
needs, attitude and expectations of target customers (Kotler and Armstrong, 2010). They
also make proper study of competitors strategies and policies to sustain in the market. Corporate culture: The concerned organisation has its own vision, mission, goals and
objectives that are set to attained. Top level executives prepare various strategies to
undertake these operations. Although it is important for marketers to keep in mind their
vision before designing products or services. It helps to balance business operations with
that of its own corporate culture. Brand focus: It refers to reflecting corporate identity of the brand in potential market. It is
an initiative to make products and services popular among the end users. Various
marketing campaign will be conducted to attract new clients along with existing ones
(Jobber and Ellis-Chadwick, 2012.). The major focus will be lead on developing
commodity as a brand which will enhance customer loyalty towards organisation. Consumer experience: Another element of integrated marketing communication is to
determine and monitor consumer experience about product. Marketing team and sales
representatives take feed backs from potential clients in order to understand their
expectations and what efforts need to be made to improve their experience. The products
should meet and exceed clients expectations is the primary objective. Communication tools: Effective communication act as a tool for company to exchange
new ideas and concept of product to targeted individuals. Marketing team uses various
modes of communication like advertising, direct selling or promotion through social
media (Hair Jr and Lukas, 2014).It also helps to resolve various queries related to product
and its use. Promotional tools: Viking office products focus on strengthening their relationship with
customers and external clients. Trade promotion and personal selling are two eminent
modes of promoting goods and services. It helps to create awareness about product and
its usage among target customers. Sometimes, brand ambassadors are also hired to seek
attention of clients towards commodities.
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 Integration tools: Companies are required to keep a regular track on customer feedbacks
and reviews. They should posses specific software like customer relationship
management that helps in measuring effectiveness of various integrated marketing
communication tools (Malhotra, 2010).
In order to understand role of integrated marketing communication in expanding business
of Viking office products a case study is referred. It is entitled as IBM/Wimbledon business
model. According to which, Wimbledon is world's most prestigious annual tennis event that
draws millions of visitors to its official website. So, to handle rush of online visitors for short
span of time, authorities hired IBM for its help. The concerned multinational company provides
business, security and storage solutions in global market. Wimbledon needed a cost effective
means of rapidly scaling up its services for rush of visitors during ten days (Homburg, Kuester
and Krohmer, 2013). IBM played crucial role in delivering smooth and swift online services to
Wimbledon fans during whole event. Its major function was to merchandise online Wimbledon
shop without slow downs or hiccups in services.
Adoption of IBM's on-demand e-business model helped authorities of Wimbledon to take
advantage of a vastly scalable IT infrastructure equipped with the latest technologies. As the
sports authorities required IT services for just two weeks, IBM expertise and innovation provided
perfect solution to it. The event became successful with corporation of services availed by IBM.
Wimbledon fans were able to access its website for latest updates of sports event.
IBM/Wimbledon business model is also appropriate for functioning of Viking office products.
The organisation is availing stationeries and other office related services to both small and
medium size businesses (Lovelock, Patterson and Wirtz, 2014). It was founded as small
California stationary store although later it performed various mergers and acquisitions that
improved its technique to operate.
Now it uses sophisticated database management system that contained eight IBM AS/400
computers, It uses specialised software that keep track of every sale that is made by company.
The system monitored how much is cost to attract each customer, products that clients typically
ordered and total amount of business customers. With passage of time, number of clients has
increased for the concerned company and in order to manage operations successfully it needs to
adopt integrated marketing communication. Through which it will be benefited to follow both
conventional and modern approach of marketing. Marketing team will operate marketing
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campaign thorough various mediums like telephonic conversation, television, newspaper,
magazines, radio and internet. It can build strong relationship with small and medium size
business entities through these channels (Lovelock, 2011). In order to implement integrated
marketing communication, Viking office products need to undertake following decisions for
proper execution: Targeted customers: The concerned business entity will first identify and determine
potential customers for the company. It will focus on both small and medium sized
enterprises to avail its office products. School, colleges, corporate and government
offices are the key institutions that require office supplies at regular interval. It will
basically operate in business to business concept. Budget for conducting operations: Another most important area to be discussed is funds
required for execution of integrated marketing communication. Finance is an essential
component to undertake different operations (Gummesson, 2011). They will decide what
sources of funds will be used to perform various marketing campaigns. Mode of communication: As the concept states company follows both traditional and
modern modes of communication. They will make use of telephonic conversation,
internet, radio, television, newspapers and magazines to communicate with targeted
clients. It will constitute a team to regulate marketing campaign in very effective manner.
 Duration for each marketing strategies: They will also decide time scale to perform each
advertising and promotional activity. For instance, potential clients will receive mail of
customized catalogues in starting week of marketing campaign. Then they will publish
advertisements in newspaper and magazines on regular basis. Apart, they will also make
use of radio and social networking websites to establish contact with individuals.
All these decisions will help to create awareness among target audience and influence
them to purchase office supplies to business firms.
TASK 2
Evaluating ways to measure the effectiveness of a B2B IMC plan
Business to business marketing involves building valuable relationship to guarantee
lasting customers. It is marketing plan focused on delivery and broad application of products. As
the buyers are trained professionals who care more about the quality of product their cost saving
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and revenue producing benefits (Wilson and et.al., 2012). This calls for need to adopt integrated
marketing communication plan by concerned company that provides detail characteristics of
products manufactured. It is a basic principle that repetition of certain activities in different
manner raises interest of clients to purchase products. They are able to seek attention of small,
medium and big enterprises towards commodities of the company. As business are usually more
concerned with cost, value and revenue potential than customers. The effectiveness of B2B IMC
plan in Viking office products can be evaluated in following manner: Sales and redemption rates: It is considered as short term outcomes where the company
determines its financial status in the market. They make use of sales, redemption rates
and profit margins figures to determine increase or decrease in concerned business entity. Brand awareness:Viking is a leading office supplier company and in order to maintain its
brand image its adopts integrated marketing communication. It makes business firms
aware about what type of office products are manufactured by company. Customer loyalty and equity:Another parameter to monitor effectiveness of B2B IMC
plan is customer loyalty towards cite organisation (De Mooij, 2013). When the firm
satisfies needs and expectations of business firms ultimately it results into customer
loyalty towards the company. Product specific awareness: Integrated marketing communication helped Viking to
create awareness about its available products. The company used sophisticated
computerized mailing system to send customized catalogues to its potential buyers. It
provided each and every detail related to a commodity.
 Corporate awareness:IMC process helped to build corporate awareness among business
units of same industry. The marketing team of Viking are able to take competitive
advantage in the market. They are able to study strategies, plans and techniques used by
their rivalries and then modify their own marketing plans.
Through adoption of B2B IMC plan business firm like Viking office products can
evaluate their current market position and customer loyalty towards its products (Czinkota and
Ronkainen, 2012). This helps to frame future strategies and policies in more effective manner.
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TASK 3
Four key perspectives developed in balanced score card and their importance in developing
business strategies
Balance score card framework is management system that maps organisation's strategic
objectives into performance metrics. It considers four dimensions of performance that is
financial, customer, internal process and innovation. As the business entity like Viking office
provider are responsible to different stakeholders groups their operations need to be evaluated.
Every stakeholder has certain wants and demands just for instance, staff and employees of cited
company rely on basis of employment opportunities availed to them (Balanced Scorecard basics,
2016). While, shareholders depend on an organisation to maintain their investment. Therefore,
in order to measure how well an organisation is doing in view of competing stakeholders the
concept of scorecard is developed (Terpstra, Foley and Sarathy, 2012). The four major
perspectives addressed by Viking office products marketing team to conduct balance scorecard is
described as follows:
Financial perspective
The mentioned business entity need to make timely and accurate funding data analysis
for better results. The company will make use of financial performance measures such as income
and return on investment. It will provide common language for analysing and comparing cited
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Illustration 1: Four perspectives of balance
scorecard.
Source: (McKenzie-Mohr,, 2013)

organisation with its competitors. Properly designed financial measures will provide an
aggregate view of organisation success. In order to prepare sound financial measurement the
managers of Viking will make sure that data includes three major types of information I.e.,
historical, current and future data. Through financial measure an organisation is able to keep
score of how well it is doing at creating wealth.
Customer perspective
According to this perspective of balance score card, managers of Viking office products
will identify customer and market segments in which business unit will compete. The concept
includes several parameters to measure client influence. Some of them are customer retention,
market share, client acquisition, customer satisfaction and profitability (Hartley and Claycomb,
2013). Market share reflects proportion of business in a given market that mentioned
organisation sells. Customer acquisition reveals rate at which firm attract and win new clients for
business, either in absolute or relative terms. While, customer retention tracks rate at which
Viking office products sustain and satisfies its existing clients. Moreover, customer satisfaction
and profitability measure net profit and satisfaction level of customers along specific
performance criteria within value proposition.
Internal business process perspective
The principle states that key to an organisation's excellence is control of its processes to
produce reliable and consistent products and services. The process and operational measures are
leading edge to measure that are more short term focused. In order to achieve consistent high
performance cited firm is required to control its inputs. The concept provide data that is needed
to predict and control quality of products and services (Hollensen, 2015). When production team
of Viking office product meet up a problem, the cause is usually found by looking at process
data. The concerned organisation set standard goals based upon benchmark availed by business
entity and clients requirement.
Learning and growth perspective
Last parameter of balance scorecard is learning and growth perspective. It focuses on
capabilities of people undertaking various operations of Viking office products. Here, the
company focuses on evaluating skills and abilities of managers. The key measures used for
ranking managers' performance is employee satisfaction, their retention and productivity. Human
resources are valuable asset for cited company and employee satisfaction is given keen
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importance. It focuses on improving productivity, quality, customer satisfaction and
responsiveness to conditions. Viking is interested to sustain skilled and qualified workforce to
maintain its productivity (Linoff and Berry, 2011). Effective incentive system rewards managers
who promote high employee satisfaction, low employee turnover and high employee
productivity.
TASK 4
Importance of STP process in B2B marketing for Viking office products
The acronym STP stands for market segmentation, targeting and positioning. It is a very
important concept of marketing that demonstrates links between overall market and how a
company chooses to compete in that market. Segmentation refers to process of classifying or
splitting potential market into small groups within similar products needs or identifiable
characteristics (Wilson, 2011). Targeting on other hand, is proactive selection of a suitable
market segment with the intention of focusing marketing activities towards this group of related
consumers. While, positioning determines target market's perception that provides competitive
advantage to the firm.
STP process plays crucial role in B2B marketing strategy of Viking office products in
several manners which are specified below:
 It helps to determine and design pricing strategy of products. First of all marketing team
classifies market into several segments depending upon common interest of consumers.
The classification also undertakes on grounds of income level and purchasing power of
targeted consumers. So the marketing team needs to focus on financial and economic
scenario of clients. Viking deals in business to business concept where enterprises laid
major focus on their own profit margins. The concerned company is benefited to provide
office stationary and other commodities at reasonable price (Lusch and Vargo, 2014). It
should provide discount and offers to existing business firms in order to gain their
customer loyalty.
 The marketing team is able to determine appropriate product pricing through STP
process. There are different pricing policies like skimming pricing, penetration pricing
policy or psychological pricing. The concerned organisation have different options to
choose that depend upon current scenario and market conditions. The marketing team
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makes proper study of target market and then determines appropriate product pricing
policy for cited organisation.
 Another advantage of STP process is it prioritize new product development efforts.
Managers of Viking office products often plans to introduce new product in the market.
For this it makes extensive use of advertising and promotional tools essential for new
product awareness in the market. Segmentation, targeting and positioning help to
establish value of commodity in the market. The cited company focuses on specific
potential market and try to differentiate its brand with similar commodity.
 STP process helps to create specific product features among potential clients. Viking
provides several stationary items to corporate and business entities. In order to attract and
influence purchasing power of new clients the company is required to popularize and
create awareness about product features (Kokemuller, 2016). Product differentiation
helps organization to sustain its position in existing market contrary to rivalry firms.
Highly competitive world, demands for differentiating features and attributes of certain
commodity in comparison with other firms present in the market.
 The company is able to determine optimal distribution strategy for the products. The
company largely takes its order through online platform. In order to provide continuous
and frequent flow of goods and services the marketing team of Viking office products
make use of strong distribution channel. Corporate firms who are its major client always
require constant flow of commodities. Organisations are able to conduct their operations
in proper manner.
These above mentioned benefits of STP process highlights its significance in much better
manner. The company is able to design proper pricing policy and appropriate product pricing. It
prioritizes new product development efforts that are essential to create brand image in potential
market. Viking office products makes effective use of STP process in order to achieve set
marketing goals and objectives.
CONCLUSION
Viking direct is a global company providing office supplies to small and medium size
enterprises. The organisation makes extensive use of integrated marketing communication plan
to promote its products in the market. The report taken in consideration IBM/Wimbledon
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business model in order to understand significance of IMC in B2Bmarketing. Further, the
company adopts balance scorecard principle to develop business strategies in effective manner.
The four perspectives that are finance, customer, internal processes, learning and growth
perspective are taken into consideration. At last, STP process is critically evaluated for sucessful
marketing operations of Viking office products.
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REFERENCES
Books and Journals
Churchill, G.A. and Iacobucci, D., 2010. Marketing research: methodological foundations.
Czinkota, M. and Ronkainen, I., 2012. International marketing. Cengage Learning.
De Mooij, M., 2013. Global Marketing and Advertising: Understanding Cultural Paradoxes:
Understanding Cultural Paradoxes. Sage Publications.
Gummesson, E., 2011. Total relationship marketing. Routledge.
Hair Jr, J.F. and Lukas, B., 2014. Marketing research. McGraw-Hill Education Australia.
Hartley, R.F. and Claycomb, C., 2013. Marketing mistakes and successes. Wiley.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Homburg, C., Kuester, S. and Krohmer, H., 2013. Marketing management: A contemporary
perspective. McGraw-Hill Higher Education.
Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing (No. 7th).
McGraw-Hill Higher Education.
Kotler, P. and Armstrong, G., 2010. Principles of marketing. pearson education.
Linoff, G.S. and Berry, M.J., 2011. Data mining techniques: for marketing, sales, and customer
relationship management. John Wiley & Sons.
Lovelock, C., 2011. Services Marketing, 7/e. Pearson Education India.
Lovelock, C., Patterson, P.G. and Wirtz, J., 2014. Services marketing. Pearson Australia.
Lusch, R.F. and Vargo, S.L., 2014. The service-dominant logic of marketing: Dialog, debate,
and directions. Routledge.
Malhotra, N.K., 2010. Marketing research: An applied orientation (Vol. 834). New Jersey:
Pearson Education.
McKenzie-Mohr, D., 2013. Fostering sustainable behavior: An introduction to community-based
social marketing. New society publishers.
Terpstra, V., Foley, J. and Sarathy, R., 2012. International marketing. Naper Press.
Wilson, A., 2011. Marketing research: an integrated approach (No. 3rd). FT Prentice Hall.
Wilson, A., Zeithaml, V.A., Bitner, M.J. and Gremler, D.D., 2012. Services marketing:
Integrating customer focus across the firm (No. 2nd Eu). McGraw Hill.
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Zeithaml, V.A., Bitner, M.J. and Gremler, D.D., 2010. Services marketing strategy. John Wiley
& Sons, Ltd.
Online
Balanced Scorecard basics. 2016. [Online]. Available
through:<http://balancedscorecard.org/Resources/About-the-Balanced-Scorecard>.
[Accessed on 21st April2016].
Kokemuller. N., 2016. What is STP Marketing. [Online]. Available
through:<http://yourbusiness.azcentral.com/stp-marketing-1769.html>. [Accessed on 21st
April 2016].
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