Marketing Management Purchasing and Marketing Management Implications

Question: Discuss about the Essay for Marketing Management of Purchasing and Marketing Management Implications. Answer: Introduction Headquartered in Philadelphia, Comcast Cable serves as a unit of the bigger Comcast Company, a director, engineer and administrator of system cables and designer of all the companys programming activities. Owning a huge market share in 15 huge metropolitan zones, the Company utilizes 50, 000 individuals in six offices and more than 25 million customers. The corporation falls amongst the world's driving cable suppliers, communication , and entertainment services. The organization is fundamentally engaged in administration of cable frameworks by the utilization of its high-branded cables. Through the presence Comcast, the company is further engaged in the creation, advancement, and circulation of news, games, and entertainment administrations for a huge global audience. The paper will explore all the possible channels through which the company utilizes the market to cater for its online audiences. Customers need, wants, product, demand and identification of market of Comcast: Products Comcast Cable TV allows customers to watch TV online and offline, which is seen an improvement to the normal TV coverage whereby the audience has to tune in TV. COMCAST provides a leading and advanced network for TV, phone, and Internet. The customers of Comcast stand a higher chance of benefitting more from the product and service package. Further, customers are offered fiber connections, Telcom services, and various regional area networks. The management of Comcast continues to ensure their clientele that the firm is committed to applying the latest technology and innovation in order to inform, entertain, and connect with people in different ways. Market for Comcast Comcast Company runs fruitful business in the region and globally and with the exact system of marketing, it will present itself as the pioneer in cable television. A portion of the strategies to improve extension are; quality ads for clients, powerful advertising of items and the organization and advancement of extra television channels. Presentation of extra fiber optic cable is vital in promoting the company brand and products in addition to several endeavors meant to give consumer loyalty (Debelak, 2000). The cable is the medium through which COMCAST gives quality entertainment to prospective clientele. Following increased demand, the general masses need to access quality data, information, and entertainment that is being offered by the companys cable. Identification of Market The motivation behind this marketing plan is to examine the execution of Comcast Corporation and make suitable marketing tools that will roll out improvements for further development and extension. The involved marketing procedure will include both local and abroad television clients. The global clients will be reached by online correspondence while a large portion of the neighborhood clients in the nation will be reached through billboard commercials. The procedure will include dynamic support of the marketing office with marketing specialists giving authority in the entire marketing procedure. Demand COMCAST has lately faced lower demand in certain type of television channels as the taste patterns of audiences in their twenties have changed over the years. The focus of the company should not only deal in selling of the customer products but rather creating an enriching experience (Homburg, Kuester Krohmer, 2013).COMCASTs present clientele have taken up an active role in trying direct their experience towards their demand. While considering the client needs, it is normal that they require a decent storyline with some outwardly engaging TV stations, which makes it additionally enticing, and makes the crowds stuck for more hours. The wants of their present customers have also differed. The changes in the value are one of the major factors that is present in the market. There are changes in the way the customers they watch the television programs being televised (Hollensen, 2015). Meeting Clientele Needs The client interest of the age ranging from 20-25 is entirely hard to recognize and the principle explanation behind this is there several interests that interest for different classes of TV arrangement. The interest for TV arrangement are similarly indistinguishable by this portion of group. There are certain angles that the client may request. The products accessible for this scope of clients are assorted. These structures are accessible to the gathering of people in various configurations. Orientation exhibited by the Comcast Company towards the market place Comcast Cable TV is currently confronted with an intriguing chance of giving quality services to customers. Following the quick changes in the business sector occurring regarding the interest, the organization needs to manage the sort of commercial center that they perform. The organization orientation towards the commercial center manages the idea, which Comcast can apply towards the objective business sector. Classes that Comcast needs to consider are the five essential orientations while it wants to expand the interest of the client of the age ranging from 20 to 25 years. The orientation of the organization would include the idea of creation, item idea, the idea of offering, the idea of advertising, and the idea identified with the general public. Production Concept: In this sort of an idea, Comcast sees that there is expansion in the generation of value television series according to the interest of the clients. The idea of creation is systematically getting terminated with the organizations focusing more on the clients (Wilson and Gilligan, 2012). Selling Concept: The idea of offering arrangements significantly affects clients who may not be keen on buying the product unless they are induced (Hutt and Speh, 2012). This is entirely trailed by Comcast, as this will qualify the organization for furnishing the unwilling clients with more TV channels that that are pressed with both excitement and show. Comcast Cable TV further gives religious news and religious affiliations and individuals frame some portion of its imperative business sector fragment. The business society is rapidly developing with the presentation of PC service administrations of new master areas. With mechanical progression, Comcast anticipates giving a superb setting to gatherings and meetings. This change in like manner engages individuals to check email messages and other vital information components. Potential advancement of computerized TV is tremendous and the world is rushing toward a minute that TV link will easily stay accessible as a wireless. Product Concept: The product concept characterizes that the clients will watch entertainment stuff, news, and TV arrangement, which are of better quality as far as the elements and execution are concerned. This idea is entirely championed by Comcast for the focused on age group of 20-25 years. The fundamental purpose behind this is quality is the perspective, which the targeted group watches in films and a decent storyline (Foxall, 2014). Along these lines, the product quality and representation is the thing that matters to the groups of audience and obliging it is the decision that should be accessible for Comcast. Its targeted market includes clients who are searching for access to stimulation and information in a tried, true, and sensible way. The business sector can basically be sub-separated into three groupings. The primary grouping is families with children who acknowledge entertainments and cartoons on various TV channels. The youngsters are the second group who might need to be entertained, while the third group includes older people of medium and senior age. The seniors are for the most part fascinated in review-updated news and network shows. Marketing Concepts: A selling concept is a fundamental idea, which is similar to advertising and marketing. Greatest income will be produced when there is effective advertising. This concept chiefly recommends that the association's prosperity is basically dependent upon the endeavors of marketing and the conveying of the quality proposition. Comcast takes after incorporated marketing activities with the goal that they can fulfill the interest of the business sector more advantageously than that of competition in the business sector (Lee and Carter, 2012). This will help the organization to get more request from the targeted segment. The marketing concept columns relies heavily on the targeted business sector, the requirements that surface from this group, incorporated promoting which includes all the bureau of the organization cooperating for the enthusiasm of the clients and at last the gainfulness. The idea of benefit is the aftereffect of a productive marketing. Societal Marketing: The idea of societal type of advertising triggers a successful drive to Comcast to such a type of concept, to the point that it will help in giving something back to the general public the things that is gotten. The organization is getting sufficient benefit from the public thus the organization is seen to take the measures for profiting the general public (Pealoza, Toulouse and Visconti, 2013). The moral contemplations are taken into contemplations while undertaking the promoting rehearses. Competitive Issues faced by Comcast One of the competitive issues facing Comcast is that, presently, the television distribution is broken and the system denies clientele reasonable choices at very affordable pricing. The acquisition of Comcast of Time Warner Cable made it to perform dismally and was viewed by many as being incompetent. This saw many competitors coming up to take advantage of the Comcast loss of trust to its clients. Analysts report that since then, the company lost some of its trusted cable and television clients to competitors, and the management has been up and down trying to regain them. Comcast Cable Television has been able to get the productive and innovative creators in all its television programs and series. The nature and the level of competition in film industry is prototype, core cultural, oligopoly with high mount of fixed cost, lower costs of reproduction, unpredictability in the demand, scale in economies, portfolio approach (Wagner Eggert,2016). Despite the fact that the organization h as kept up a solid clientele base, its management is worried about competition drawn from other digital television players. Rivalry predominantly comes from Netflix (whose customers can stream television scenes and films) has given the organization different difficulties as far as market ownership is concerned. Comcast concedes to the fact that it still needs to attain a comparative electronic programming strategy. Nonetheless, the organization is endeavouring to make improvements on its client guide by targeting its ipad clients. The organization has succeeded to combat rivalry by propelling an ipad application which permits clients to control and further program their televisions in a remote way. While Viacom, another major competitor, has as of now discharged applications that empower clients to watch desirable channels on the ipad, the company is still thinking of coming up with one as a win-strategy that would maintain all its clients and not lose them to Viacom. Competitors su ch as ATT and DirectTV are capable of attracting its clients by bringing down the cost of services, which essentially turns the incomes of Comcast down. Regardless of the difficulties postured by Comcasts competitors, the competitors keep on telling a vast piece of the overall industry through broadcast of better services and administration of astounding services. Another competitive issue facing Comcast is that the company has been struggling with keeping the legacies of the many firms it assimilated but failed to fully integrate. This issue has led the company incur various mistakes in terms of miscommunication and billing with clients. To this day, the company is working to streamline its major systems, only that this move is still not effective, according to the view of technology experts. Another competitive matter facing Comcast is that, there is stiff competition in high-speed Internet and video services. Some of the media companies, especially from America (key among them, Time Warner) have begun offering both on-demand programming and linear programming via HBO NOW. Such initiatives are bound to cause Comcast Cables video services to start losing longstanding subscribers. In terms of high-speed Internet, Comcast Cable faces competition from the leading Aphabets Google Fiber (GOOG). The latter is increasingly providing high-speed video and Internet services in some of the companys services, and is rapidly expanding into other geographical regions. Comcasts voice services are presently reported to be under intense pressure. This is because, the companys voice clientele tend to prefer Internet-based phone services and mobile phones services including Skype over wireline phones. Segmenting, positioning, and targeting issues related to Comcast Within the cable service providers, five major segments are used to account for industry revenue. These include filmed entertainment segment, advertising segment, cable network segment, broadcast TV segment, and cable segment. The cable segment revenues include phone, Internet, and video services that are rendered primarily to business and residential clients. The broadcast television segment is used to generate revenue from advertising sales on local television stations, broadcast networks, and other digital media platforms. The original content is licensed via programming distribution contracts, video on-demand subscriptions, broadcast networks, and cable networks. Advertising segment proceeds are collected from all the commercials viewed. This is attained by licensing the companys owned programming to enable in provision of network ratings. Filmed entertainment segment is profitably attributed to the worldwide distribution of acquired and produced film titles. The licensing of fil m titles and the sale of original content through DVD, Blue-ray, and high definition and standard platforms have been appreciated to contribute to the overall collected revenue (Cui Choudhury, 2015). The art of segmenting, positioning, and targeting for Comcast is taken seriously. These are the three-phase process. In the first case, it is imperative to distinguish the sort of clients that exist. Second, there is a requirement for selecting for which it is best off when served, and finally it includes the usage of the division so the products/services are enhanced for that specific target groups of audience and after that conveying the decision with the goal that it can recognize the decision that way . At the point when Comcast applies the idea of sectioning, then there is a chance that the organization will not maximize and boost their potential. It may emerge that a brand may gain a lasting relationship with a specific group when it is seen to use the social race, class, and way of life, which would bring inconvenience others to utilize the product (Simkin and Dibb, 2013). Sectioning and segmenting of the audience may prompt potential audiences to move away from their individu al objective. This would prompt the estrangement of the potential clients (Baker et al., 2014). The individual discernments are not considered regarding this. Positioning is vital before the product enters the business sector. The basic issues that surface is that with new offers coming up and with whom it is going to contend. It is essential for Comcast to comprehend that there is a requirement for the client need they are attempting to meet with the product classes that is served. The real gap may not be that simple to interpret and competencies if any should be investigated (Cui and Choudhury, 2015).Thus, positioning is very difficult. Targeting the audience is exceptionally difficult for the Comcast. The target populace of 20-25 years is seen to favor films from all kinds. Recommendations Conclusion The ideal method for completing an examination amongst execution and arranged activities is fundamental in helping oversights and serve as a fruitful technique for controlling the endeavor. In the execution technique, the going with segments that ought to be checked incorporate monthly costs and income by means of acquirement of worth services at moderate expenses. Through customer steadfastness, the association can acquire new customers and expand its yearly incomes. The association of advertising is appeared to be a segment to be found in the execution arrangement. The criticalness of this game plan is to elevate its endeavors to enhance its stake in Cable TV market by enabling customers to fathom the attributes of computerized TV as opposed to satellite TV. It is prudent that Comcast continues with the diversification of its products as a means of ensuring that the organization appreciates a competitive advantage. The audience of Comcast can be expanded through the joining of imag ination of the workers, which help in thinking of the distinctive sort of the services, which does not have any priority in nature and utilization. References Baker, M. J., Parkinson, S. T. (2016).Organizational buying behaviour: purchasing and marketing management implications. Springer. Baker, W. E., Sinkula, J. M., Grinstein, A., Rosenzweig, S. (2014). The effect of radical innovation in/congruence on new product performance.Industrial Marketing Management,43(8), 1314-1323. Bruning, E. Lockoshin, L. (1994). Marketings role in generating organizational competitiveness. Journal of Strategic Marketing (2)3, 123-134. Cui, G., Choudhury, P. (2015). Effective strategies for ethnic segmentation and marketing. InProceedings of the 1998 Multicultural Marketing Conference(pp. 354-358). Springer International Publishing. Debelak, D. (2000). Streetwise Marketing Plan: Winning Strategies for Every Small Business. Avon, MA: Adams media. Diamantopoulos, A., Fritz, W., Hildebrandt, L. (Eds.). (2013).Quantitative Marketing and Marketing Management: Marketing Models and Methods in Theory and Practice. Springer Science Business Media. Foxall, G. (2014).Strategic Marketing Management (RLE Marketing)(Vol. 3). Routledge. Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Homburg, C., Kuester, S., Krohmer, H. (2013).Marketing management: A contemporary perspective. McGraw-Hill Higher Education. Hutt, M. D., Speh, T. W. (2012).Business marketing management: B2B. Cengage Learning. Kotler, P., Keller, K. L., Manceau, D., Hmonnet-Goujot, A. (2015).Marketing management(Vol. 14). Englewood Cliffs, NJ: Prentice Hall. Lee, K., Carter, S. (2012).Global marketing management. Oxford University Press. Lindgreen, A., Hingley, M. K., Grant, D. B., Morgan, R. E. (2012). Value in business and industrial marketing: Past, present, and future.Industrial Marketing Management,41(1), 207-214. Pealoza, L., Toulouse, N., Visconti, L. M. (Eds.). (2013).Marketing management: A cultural perspective. Routledge. Saarijarvi, H. (2012). The mechanisms of value co-creation. Journal of strategic marketing (20)5, 381-91. Stevens, R. Loudon, D. Nykiel, R. (2003). Marketing Your Business: A Guide to Developing a Strategic Marketing Plan. Binghamton, NY: Routledge. Sharma, A., Lambert, D. M. (2013). Segmentation of markets based on customer service.International Journal of Physical Distribution Logistics Management. Simkin, L., Dibb, S. (2013). Social media's impact on market segmentation and CRM.Journal of Strategic Marketing,21(5), 391-393. Tadajewski, M., Jones, D. B. (2012). Scientific marketing management and the emergence of the ethical marketing concept.Journal of Marketing Management,28(1-2), 37-61. Wagner, S. M., Eggert, A. (2016). Co-management of purchasing and marketing: Why, when and how?.Industrial Marketing Management,52, 27-36. Weaven, S., Grace, D., Dant, R., R. Brown, J. (2014). Value creation through knowledge management in franchising: a multi-level conceptual framework.Journal of Services Marketing,28(2), 97-104. Wilson, R. M., Gilligan, C. (2012).Strategic marketing management. Routledge.