Thursday, December 23, 2010

define trade

noun, verb, trad·ed, trad·ing, adjective
–noun
1.
the act or process of buying, selling, or exchanging commodities, at either wholesale or retail, within a country or between countries: domestic trade; foreign trade.
2.
a purchase or sale; business deal or transaction.
3.
an exchange of items, usually without payment of money.
4.
any occupation pursued as a business or livelihood.
5.
some line of skilled manual or mechanical work; craft: the trade of a carpenter; printer's trade.
6.
people engaged in a particular line of business: a lecture of interest only to the trade.
7.
market: an increase in the tourist trade.
8.
a field of business activity: a magazine for the furniture trade.
9.
the customers of a business establishment.
10.
Informal .trade paper 
11.
trades.trade wind ( def. 1 ) .
–verb (used with object)
12.
to buy and sell; barter; traffic in.
13.
to exchange: to trade seats.
–verb (used without object)
14.
to carry on trade.
15.
to traffic (usually fol. by in ): a tyrant who trades in human lives.
16.
to make an exchange.
17.
to make one's purchases; shop; buy.
–adjective
18.
of or pertaining to trade or commerce.
19.
used by, serving, or intended for a particular trade: trade journal.
20.
Also, trades. of, composed of, or serving the members of a trade: a trade club.
21.
trade down, to exchange a more valuable or desirable item for a less valuable or desirable one.
22.
trade in, to give (a used article) as payment to be credited toward a purchase: We trade in our car every three years.
23.
trade off, to exchange something for or with another.
24.
trade on / upon, to turn to one's advantage, esp. selfishly or unfairly; exploit: to trade on the weaknesses of others.
25.
trade up, to exchange a less valuable or desirable item for a more valuable or desirable one.

Tuesday, December 21, 2010

World Markets

World Markets

Asia

*Daiwa's Information Bank The Daiwa Securities Group now provides a new Worldwide Web page to summarize first-half financial reports of listed and OTC Japanese companies. This new service is part of Daiwa's Corporate Information Bank (CIB) and will summarize midterm financial reports on the day following their release. It will also provide updated company forecasts of fiscal-year results.
*Daiwa Institute of Research
*Asia Inc., Online Covers business in Asia with audio, graphics and text and provides daily financial statistics and commentary.
*Nomura Project Finance International

North America

*Bank of Canada Currency Museum
*Canadian Financial Network provides a window on Canadian financial markets.
*Great West Life Assurance - Canada
*KPMG Canada. This page describes services of one of Canada's leading accounting organizations and lists a variety of business links in Canada.

Europe

*International Financial Encyclopeadia
*MATIF. MATIF is the French futures & options exchange and offers investors products such as Stock index, interest rate , foreign exchange, and commodities. The web site has historical data and statistics.
*ABN-Amro Bank
*Directory of Russian Banks
*Union Bank of Switzerland Technology Lab
*Finnish Finance Network
*FMS - FMS is a Frankfurt-based money newsletter reporting each week on Bundesbank, German interest rates, and European Monetary Union.
*Internet Securities. Internet Securities is a leading provider of on-line financial, market and economic data for investors in selected emerging markets of Eastern & Central Europe and Russia.
*Italian Stock Prices

Australia

*Australian Department of Finance
*Australian Stock Market and Historical Data Page

Africa

*East African Financial Markets Newsletter

# # Stock Market & Financial Markets Overview

Stocks

Americas

INDEX VALUE CHANGE % CHANGE TIME
DOW JONES INDUS. AVG 11,533.20 55.03 0.48% 16:30
S&P 500 INDEX 1,254.60 7.52 0.60% 12/21
NASDAQ COMPOSITE INDEX 2,667.61 18.05 0.68% 12/21
S&P/TSX COMPOSITE INDEX 13,365.20 171.87 1.30% 12/21
MEXICO IPC INDEX 38,230.90 255.38 0.67% 16:06
BRAZIL BOVESPA INDEX 68,214.90 951.26 1.41% 12/21

Europe, Africa and Middle East

INDEX VALUE CHANGE % CHANGE TIME
Euro Stoxx 50 Pr 2,876.99 37.77 1.33% 12/21
FTSE 100 INDEX 5,951.80 60.19 1.02% 11:35
CAC 40 INDEX 3,927.49 42.41 1.09% 12/21
DAX INDEX 7,077.99 59.39 0.85% 12/21
IBEX 35 INDEX 10,203.40 207.30 2.07% 12/21
FTSE MIB INDEX 20,736.60 362.94 1.78% 12/21
AEX-Index 356.14 2.99 0.85% 12/21
OMX STOCKHOLM 30 INDEX 1,166.00 11.82 1.02% 12/21
SWISS MARKET INDEX 6,558.17 36.92 0.57% 12/21

Asia-Pacific

INDEX VALUE CHANGE % CHANGE TIME
NIKKEI 225 10,364.00 -6.51 -0.06% 19:11
HANG SENG INDEX 22,993.90 354.78 1.57% 12/21
S&P/ASX 200 INDEX 4,777.60 5.70 0.12% 19:31

Stock Futures

Americas

INDEX VALUE CHANGE OPEN HIGH LOW TIME
DJIA INDEX 11,464.00 -7.00 11,473.00 11,473.00 11,462.00 19:19
S&P 500 1,249.60 -1.10 1,250.30 1,250.20 1,249.20 19:07
NASDAQ 100 2,231.50 -3.75 2,231.25 2,232.50 2,230.50 19:15
S&P/TSX 60 759.00 10.80 749.60 761.20 749.60 12/21
MEX BOLSA 38,610.00 293.00 38,495.00 38,730.00 38,415.00 18:00
BOVESPA 69,301.00 893.00 68,700.00 69,430.00 68,700.00 12/21

Europe

INDEX VALUE CHANGE OPEN HIGH LOW TIME
DJ EURO STOXX 50 2,873.00 35.00 2,856.00 2,881.00 2,850.00 12/21
FTSE 100 5,907.00 50.00 5,861.00 5,920.00 5,857.00 12/21
CAC 40 10 EURO 3,928.50 40.00 3,911.00 3,940.00 3,903.00 12/21
DAX 7,088.50 51.50 7,065.00 7,105.50 7,059.00 12/21
IBEX 35 10,132.00 211.00 10,000.00 10,172.00 9,964.00 12/21
FTSE MIB 20,764.00 362.00 20,500.00 20,795.00 20,500.00 12/21
AMSTERDAM 356.25 2.80 355.80 357.20 355.20 12/21
OMXS30 1,167.00 13.00 1,159.00 1,168.50 1,159.00 12/21
SWISS MARKET 6,483.00 24.00 6,503.00 6,503.00 6,461.00 12/21

Asia-Pacific

INDEX VALUE CHANGE OPEN HIGH LOW TIME
NIKKEI 225 10,350.00 0.00 10,360.00 10,370.00 10,340.00 19:11
HANG SENG 22,960.00 262.00 22,758.00 23,067.00 22,691.00 12/21
SPI 200 4,772.00 6.00 4,767.00 4,787.00 4,762.00 19:23

Commodities

VALUE CHANGE % CHANGE TIME
Nymex Crude Future 90.06 0.24 0.27 19:22
Nymex Henry Hub Future 4.08 0.02 0.52 19:12
Gold 100oz Future (USD/t oz.) 1,387.90 -0.90 -0.06 19:21
UBS Bloomberg CMCI 1,581.66 10.99 0.70 12/21

Currencies

CURRENCY VALUE CHANGE % CHANGE DATE/TIME
EUR-USD 1.3104 0.0004 0.0267% 19:32
USD-JPY 83.8050 0.0598 0.0713% 19:32
GBP-USD 1.5463 -0.0007 -0.0446% 19:33
USD-CAD 1.0174 0.0003 0.0253% 19:32

Rates & Bonds

Government Bonds

COUPON MATURITY PRICE/YIELD PRICE/YIELD CHANGE TIME
US 10-Year 2.625 11/15/2020 94-05½ / 3.32 0-04 / -0.015 19:29
Australia 10-Year 4.500 04/15/2020 92.32 / 5.57 -0.403 / 0.057 19:32
Brazil 10-Year 10.000 01/01/2021 896.56 / 12.51 0.552 / -0.317 12/21
Germany 10-Year 2.500 01/04/2021 95.83 / 2.99 -0.163 / 0.020 12/21
Japan 10-Year 1.200 12/20/2020 100.15 / 1.18 0.062 / -0.007 19:32
UK 10-Year 4.750 03/07/2020 109.71 / 3.51 -0.204 / 0.024 12/21

Key Rates


CURRENT 1 MO PRIOR 3 MO PRIOR 6 MO PRIOR 1 YR PRIOR
Fed Funds Rate 0.21 0.20 0.23 0.21 0.12
Fed Reserve Target Rate 0.25 0.25 0.25 0.25 0.25
Prime Rate 3.25 3.25 3.25 3.25 3.25
US Unemployment Rate 9.80 9.60 9.60 9.70 10.00
1-Month Libor 0.26 0.25 0.26 0.35 0.23
3-Month Libor 0.30 0.28 0.29 0.54 0.25

Easy Forex


Incubated with the efforts of a group of forex experts and bankers, Easy Forex came into being with the aim to launch a forex trading platform that any level of end user would love to use because of its simplified functionality. With an assumed market maker position, liquidity providers of Easy Forex are no other than The Royal Bank of Scotland (RBS) and UBS (in Switzerland).
Headquartered in Cyprus, customer support centers and FX trading rooms of Easy Forex are available in several different countries. This broker was the first ever to provide no-download proprietary software platform to its traders. German, Greek, Chinese, English, Arabic, Polish and Hebrew are the languages in which this software can be accessed.
To add on more to the charm of the Easy Forex is their advanced technological approach that allows iPhone users to take advantage of almost all their services over the phone. Although this is not a complete trading platform that allows you to perform trading activity through your phone only, still you can check your Easy Forex account status, or the standing of the forex market via their amazing iPhone application.
Registration process and deposit of funds with Easy Forex is a cake walk. All major credit cards and Paypal are accepted for the deposits. Withdrawal process is also very simple, though you will have to talk to the company executive on phone before your first withdrawal. Provide the executive with an ID as well as your legitimate bank account details (to avoid any money laundering risks) and you are all good to go.
If you have the fundamental knowledge of the forex market terminology, there is no reason why you would face any difficulty in execution of deals with Easy Forex. Easy Forex provides extensive guidance and tutorials on their website for easy dealing in the Forex market via their software.
As soon as the registration is done, an account manager contacts every user to take them swiftly through the initial dealing stages. Account manager can be reached during the local working hours; however dealing room is open 24*7 for any technical assistance. Usually, Easy Forex lays a great emphasis on the customer service, which is evident from the fact that each trader is provided with their own account manager for quick and focused guidance. 
Advanced training for better trading and for optimum usage of the system is made available for the prominent members. What kind of account you wish to set up with Easy Forex depends on the amount of money you wish to put at stake. Get started with as less as $12.5 for a mini-account. Platinum, Gold and customized Import-Export account are some other account choices that are available. The selected account type also determines the spread that are offered. 10 pips are diced for a mini-account, 7 pips for the gold accounts, 5 pips for platinum accounts, and 3 pips are provided for the customized accounts. 
Apart from spreads, there is no other source by which Easy Forex earns, as no commission is charged for deals made on their system. The only exception is the renewal fee, which is charged to roll over positions from Day Trading over to the next trading day.
Any deal performed via products offered by Easy Forex can be adjusted easily to the market trends. Such adjustments can be made in the “My Position” section where all the deals can be controlled and monitored by the trader. Every trading account activity is recorded in the system as well as informed via an automatic email.
There are several other helpful sections provided by Easy Forex, like you may track your current balance, withdrawals, credit card charges, and all deposits in the “My Account” Section. The results of all closed deals can be seen in the “History” Section. For better and more lucrative decisions, traders are given easy access to Reuter’s world news feature, to know if there are any events that may affect the foreign exchange market. Useful and easy to understand charts, analytical tools and financial calendar are also made available to allow traders make informed forex decisions.
Considering the cordial customer support all through as well as an extensive understanding and guidance of forex offered by Easy Forex, it is pretty simply to trade with this system. All the features and trading tools are extremely user-friendly and very useful. With so many positives to count on, Easy Forex is definitely one of the best picks amongst forex brokers.
The simplicity of the Easy Forex system is reflected in the minimalistic feel of their website. But as you navigate a little, you get all that you want for successful trading, be it tools, support or information. Trading experience with Easy Forex is definitely a simplistic yet lucrative affair.

L'euro repart en baisse, les finances de l'Europe visées par les agences

L'euro est reparti en baisse mardi face au dollar, effaçant les gains engrangés plus tôt dans la journée après de nouvelles alertes sur la solidité financière de la zone euro lancées par les agences de notation.

Vers 22H00 GMT (23H00 à Paris), l'euro valait 1,3093 dollar contre 1,3126 dollar lundi vers 22H00 GMT, après être monté brièvement au-dessus de 1,32 dollar.

La monnaie européenne reculait face à la devise nippone à 109,69 yens contre 109,95 yens lundi soir.

Le dollar s'est stabilisé face au yen, à 83,76 yens contre 83,78 yens lundi soir.

La devise européenne s'était offert un court répit, soutenue par une remarque du vice-Premier ministre chinois Wang Qishan. Il a indiqué que Pékin aiderait certains pays membres de l'Union européenne (UE) à combattre la crise de leur dette souveraine, mettant en avant "l'intérêt fondamental de la Chine et de l'UE de renforcer leur coopération", selon l'agence Chine nouvelle.

Mais le soutien chinois "peut difficilement nourrir un retournement de tendance", car "la Chine ne peut apparaître comme une option alternative à une solution à long terme de la crise des dettes en Europe", a tempéré Ulrich Leuchtmann, de Commerzbank.

Le redressement de l'euro a été "étouffé dans l'oeuf", selon les analystes de Brown Brothers Harriman, alors que l'agence de notation Moody's a annoncé qu'elle plaçait la note du Portugal sous surveillance, réfléchissant à un possible abaissement d'un cran ou deux en raison de l'impact de son plan d'austérité sur son économie.

Par ailleurs, l'agence, qui a menacé la semaine dernière de dégrader la note de l'Espagne, a abaissé mardi les notes de deux régions espagnoles.

L'agence de notation Fitch Ratings a elle fait part de la possibilité d'abaisser la note de la Grèce, actuellement fixée à "BBB-" pour la dette long terme, ce qui relèguerait ce pays membre de la zone euro parmi les émetteurs considérés comme peu fiables.

"Les notes des dettes publiques de la zone euro sont des cibles mouvantes, avec des budgets et des chiffres de la dette amenés à se détériorer encore en 2011", ont estimé les analystes de Brown Brothers Harriman.

L'euro est en conséquence retombé à son plus bas niveau depuis deux semaines.

"Les acteurs de marché spéculent sur la possibilité pour le Portugal et l'Espagne de partager la mauvaise fortune de l'Irlande", a noté de son côté David Song, analyste de la société Daily FX, selon qui "les échanges devraient se montrer instables dans des volumes peu importants avant les vacances de Noël".

Signe de la prudence des cambistes, l'euro a touché mardi un nouveau plus bas historique face à la devise helvétique, considéré comme une valeur refuge, qui est montée jusqu'à 1,2545 franc suisse pour un euro.

Vers 22H00 GMT, la devise helvétique avançait face à l'euro à 1,2550 franc suisse pour un euro, comme face au billet vert à 0,9581 franc suisse pour un dollar.

La livre britanique se stabilisait face à l'euro à 84,63 pence pour un euro, et reculait face au billet vert à 1,5469 dollar.

La monnaie chinoise a terminé mardi à 6,6590 yuans pour un dollar contre 6,6725 yuans la veille.

----------------------------------

Cours de mardi      Cours de lundi

              22H00 GMT            22H00 GMT

   EUR/USD            1,3093             1,3126
   EUR/JPY            109,69             109,95
   EUR/CHF            1,2550             1,2662
   EUR/GBP            0,8463             0,8461
   USD/JPY             83,90              83,78
   USD/CHF            0,9581             0,9644
   GBP/USD            1,5469             1,5506

The marketing mix

The marketing mix

In order to achieve your marketing objectives you need to have a strategy that includes different elements - the various parts of the marketing mix. Calling it a mix reminds you to try and get the balance right between the different elements. It is easy to assume that one part of the mix is wrong, when in fact it is another. For example, if take-up of a newly-priced service is poor, it could be that the answer is to change the service, or to deliver it in a way that is more convenient to the user, or to improve the quality of the promotion (rather than to cut the price).
McCarthy identified the four P's of the marketing mix:
  • Product Defining the characteristics of your product or service to meet the customers' needs.
  • Price: Deciding on a pricing strategy. Even if you decide not to charge for a service, it is useful to realise that this is still a pricing strategy. Identifying the total cost to the user (which is likely to be higher than the charge you make) is a part of the price element.
  • Promotion This includes advertising, personal selling (eg attending exhibitions), sales promotions (eg special offers), and atmospherics (creating the right impression through the working environment). Public Relations is included within Promotion by many marketing people (though PR people tend to see it as a separate discipline).
  • Place or distribution. Looking at location (eg of a library) and where a service is delivered (eg are search results delivered to the user's desktop, office, pigeonhole - or do they have to collect them).
There are two ways to impress bluffers.
You can extend the number of P's - the two which are usually seen as useful additions for services (including information services) are:
  • People Good information services are not likely to be delivered by people who are unskilled or demotivated;
  • Process The way in which the user gets hold of the service (eg the way in which a document or a search can be ordered).
The second way to show your marketing knowledge is to dismiss the P's as being as old fashioned as the 1980s For example, there are the C's developed by Robert Lauterborn (1) and put forward by Philip Kotler:
  • Place becomes Convenience
  • Price becomes Cost to the user
  • Promotion becomes Communication
  • Product becomes Customer needs and wants
These C's reflect a more client-oriented marketing philosophy. They provide useful reminders - for example that you need to bear in mind the convenience of the client when deciding where to offer a service. Some would argue that the marketing mix is too product-oriented, and that modern marketing should not focus on it. However, it does provide a handy framework for marketing analysis. The C's are also not nearly so memorable as the P-words, and marketing texts still tend to use the latter to describe the elements of the mix. If numbers less than 10 don't impress you, you can go for Evert Gummesson's 30Rs of relationship marketing (2), from Relationship one ("the classic dyad: the relationship between supplier and customer") to Relationship 30 ("the owner and financier relationship").

1. Lauterborn, Bob. (1990) "New marketing litany: four Ps passe: C-words take over." Advertising age. 61 (41), 26.
2. Gummesson, Evert. (2002) Total relationship marketing 2nd ed. Oxford: Butterworth-Heinemann.
Super-bluffers can dismiss McCarthy and Kotler , and reinvent the P's or C's as (for example) the S's or the D's. If you can think of appropriate words and phrases, all beginning with the same letter, you probably deserve to be a marketing guru. On the other hand, you could take a quantitative approach and try to find 101 words beginning with the letter 'P' that all have some relationship, however tenuous, with marketing.

Developing Your Marketing

Your marketing mix is a combination of marketing tools that are used to satisfy customers and company objectives. Consumers often call the marketing mix "the offering." Your offer is controlled by the following variables often referred to as the four Ps in marketing:
  • Product
  • Price
  • Place (Distribution)
  • Promotion
By using variations of these four components you have the ability to reach multiple consumers within your target market.
Creating a successful marketing mix that will increase results often takes experimenting and market research. There are many methods that can be used, both in person and the use of impersonal presentations. The key is to not always depend on "one" mix always explore other avenues. The combining and coordination of these elements will be more effective than depending on one.
You must coordinate all elements so that the prospective consumer is not being sent mixed messages that can cause confusion. Do all of your elements contain the same message? Take for example the following scenario:
We are a company that specializes in marketing services and we cater to physicians, however the products we offer fulfill the needs of lead generation for lawyers. Our price is geared an enterprise budget and our magazine advertisements and promotions are being placed in magazines that have a subscription base of senior citizens.
Do you see a problem with this? While in this scenario it is very obvious, I guarantee that by looking at your marketing mix you may find discrepancies that surprise you. Always make sure that your marketing mix has a message that speaks in unison.
For instance make sure that if you have a practice that caters to a niche market that your product is geared towards the need of that market, your price is within the budget of that market, you are distribution your product or service where it will be seen by that market, and gear your promotion to solve the problems that they are encountering.
If you remember one thing from this article it is that one of the main keys to the success of any marketing program is the ability to work effectively in shaping marketing mixes that meet the nature and needs of your specified target market.

The Marketing Mix

The Marketing Mix

(The 4 P's of Marketing)


The major marketing management decisions can be classified in one of the following four categories:
  • Product
  • Price
  • Place (distribution)
  • Promotion
These variables are known as the marketing mix or the 4 P's of marketing. They are the variables that marketing managers can control in order to best satisfy customers in the target market. The marketing mix is portrayed in the following diagram:

The Marketing Mix



Product
 

Place
     
   

Target
Market

   
     

Price
 

Promotion



The firm attempts to generate a positive response in the target market by blending these four marketing mix variables in an optimal manner.

Product

The product is the physical product or service offered to the consumer. In the case of physical products, it also refers to any services or conveniences that are part of the offering.
Product decisions include aspects such as function, appearance, packaging, service, warranty, etc.

Price

Pricing decisions should take into account profit margins and the probable pricing response of competitors. Pricing includes not only the list price, but also discounts, financing, and other options such as leasing.

Place

Place (or placement) decisions are those associated with channels of distribution that serve as the means for getting the product to the target customers. The distribution system performs transactional, logistical, and facilitating functions.
Distribution decisions include market coverage, channel member selection, logistics, and levels of service.

Promotion

Promotion decisions are those related to communicating and selling to potential consumers. Since these costs can be large in proportion to the product price, a break-even analysis should be performed when making promotion decisions. It is useful to know the value of a customer in order to determine whether additional customers are worth the cost of acquiring them.
Promotion decisions involve advertising, public relations, media types, etc.

A Summary Table of the Marketing Mix

The following table summarizes the marketing mix decisions, including a list of some of the aspects of each of the 4Ps.
Summary of Marketing Mix Decisions
ProductPricePlacePromotion
Functionality
Appearance
Quality
Packaging
Brand
Warranty
Service/Support
List price
Discounts
Allowances
Financing
Leasing options
Channel members
Channel motivation
Market coverage
Locations
Logistics
Service levels
Advertising
Personal selling
Public relations
Message
Media
Budget

The Marketing Mix

The Marketing Mix
(The 4 P's of Marketing)


Marketing decisions generally fall into the following four controllable categories:
  • Product
  • Price
  • Place (distribution)
  • Promotion
The term "marketing mix" became popularized after Neil H. Borden published his 1964 article, The Concept of the Marketing Mix. Borden began using the term in his teaching in the late 1940's after James Culliton had described the marketing manager as a "mixer of ingredients". The ingredients in Borden's marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as the 4 P's of marketing, depicted below:

The Marketing Mix

The Marketing Mix


These four P's are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response.

Product Decisions

The term "product" refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made:
  • Brand name
  • Functionality
  • Styling
  • Quality
  • Safety
  • Packaging
  • Repairs and Support
  • Warranty
  • Accessories and services

Price Decisions

Some examples of pricing decisions to be made include:
  • Pricing strategy (skim, penetration, etc.)
  • Suggested retail price
  • Volume discounts and wholesale pricing
  • Cash and early payment discounts
  • Seasonal pricing
  • Bundling
  • Price flexibility
  • Price discrimination

Distribution (Place) Decisions

Distribution is about getting the products to the customer. Some examples of distribution decisions include:
  • Distribution channels
  • Market coverage (inclusive, selective, or exclusive distribution)
  • Specific channel members
  • Inventory management
  • Warehousing
  • Distribution centers
  • Order processing
  • Transportation
  • Reverse logistics

Promotion Decisions

In the context of the marketing mix, promotion represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Marketing communication decisions include:
  • Promotional strategy (push, pull, etc.)
  • Advertising
  • Personal selling & sales force
  • Sales promotions
  • Public relations & publicity
  • Marketing communications budget

Limitations of the Marketing Mix Framework

The marketing mix framework was particularly useful in the early days of the marketing concept  when physical products represented a larger portion of the economy. Today, with marketing more integrated into organizations and with a wider variety of products and markets, some authors have attempted to extend its usefulness by proposing a fifth P, such as packaging, people, process, etc. Today however, the marketing mix most commonly remains based on the 4 P's. Despite its limitations and perhaps because of its simplicity, the use of this framework remains strong and many marketing textbooks have been organized around it.

Physical evidence as part of the marketing mix

Physical evidence as part of the marketing mix

Physical evidence is the material part of a service. Strictly speaking there are no physical attributes to a service, so a consumer tends to rely on material cues.
There are many examples of physical evidence, including some of the following:
  • Packaging.
  • Internet/web pages.
  • Paperwork (such as invoices, tickets and despatch notes).
  • Brochures.
  • Furnishings.
  • Signage (such as those on aircraft and vehicles).
  • Uniforms.
  • Business cards.
  • The building itself (such as prestigious offices or scenic headquarters).
  • Mailboxes and many others . . . . . .
Mailbox A sporting event is packed full of physical evidence. Your tickets have your team's logos printed on them, and players are wearing uniforms. The stadium itself could be impressive and have an electrifying atmosphere. You travelled there and parked quickly nearby, and your seats are comfortable and close to restrooms and store. All you need now is for your team to win!
Football Players Some organisations depend heavily upon physical evidence as a means of marketing communications, for example tourism attractions and resorts (e.g. Disney World), parcel and mail services (e.g. UPS trucks), and large banks and insurance companies (e.g. Lloyds of London).

social media

http://smartblog.files.wordpress.com/2008/05/social-arena-marketing-prep.jpg

Marketing Plan

http://www.novamind.com/planning/mind-maps/marketing-plan.png

MARKETING: INTRODUCTION

A Closer Look at Business Education
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
JANUARY 2007
: MARKETING
INTRODUCTION:
In recent years, attention to social and environmental issues in product marketing has become a
mainstream practice and offers opportunities for firms to differentiate themselves in the market. Popular
examples abound: organic produce, hybrid cars, and fair trade coffee, to name just a few. While business
coursework is quickly following practice in the field, our data show that a critical examination of the
social impact of marketing is limited in some instances to issues of legality and ethics. When ethical
concerns are raised, they are commonly discussed in the context of avoiding harmful marketing practices,
especially prohibitive product pricing and deceptive advertising. On the other hand, international
marketing classes do a good job of discussing socio-cultural considerations in the analysis of new target
markets.
It is noteworthy that a handful of MBA programs offer courses specifically addressing “social
marketing”; that is, using concepts from commercial marketing, such as the traditional “four P’s”
marketing mix (i.e., Product, Place, Promotion, and Pricing), to bring about social change. Also,
academic research has highlighted the use of, and further potential for, social marketing for environmental
causes.1 A few of these forward-looking strategic marketing courses are highlighted in the “notable
coursework” section below.
THE BOTTOM LINE:
■ According to Dr. Bruce Hutton, several years ago topics related to the environment and
social issues were considered “add-ons” and were included at the end of marketing texts.
Now, these issues are better integrated throughout such texts.
■ There are many social impact management topics in marketing that are worthy of
inclusion into coursework. Examples include the impacts of product development,
design, and pricing decisions on both consumers and business sustainability, as well as
the impacts of “niche marketing” on both target markets and sustainable competitive
corporate strategy.
A FACULTY POINT OF VIEW:
Dr. Bruce Hutton is a Professor of Marketing at the Daniels College of Business at the
University of Denver. He has also served as Dean and Chairman of the Marketing Department in
his twenty years at Denver. Additionally, Dr. Hutton is a co-founder of the Colorado Ethics in
Business Awards, a unique grassroots effort to recognize individuals, companies, and nonprofit
organizations for ethics and socially responsible actions.
On cutting-edge issues in marketing: “Every aspect of the traditional marketing mix is being affected by
the opportunities provided by the expansion of marketing thought to include social and environmental
issues in the development of marketing strategy. New ways of greening the supply chain, pressuring
suppliers to be environmentally sensitive and have ethical practices with regard to labor and human rights
provide ways of differentiating brands. Engaging in partnerships with civil society organizations as well
as government is providing access to new markets and resources. Perspectives, such as those presented in
1 For example, see Edward Maibach’s “Social Marketing for the Environment: Using Information Campaigns to
Promote Environmental Awareness and Behavior Change”, Health Promotion International, Vol. 9, No. 3, 209-224.
Oxford University Press, 1993. Additionally, Oxford University presented, “Social Marketing for the Environment:
Using Water Wisely”, a conference in November 2006. See http://www.conted.ox.ac.uk/cpd/env/courses/social.asp
for the announcement.
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Prahalad’s book, The Fortune at the Bottom of the Pyramid, are opening up heretofore ignored markets
and are leading to new innovations in meeting the needs of the poor.”
On student interest in environmental, social, and ethical issues in marketing: “Students respond very
positively to such topics when they are presented in the context of the overall marketing process, so they
can see the linkage between these practices and the creation of firm value, customer satisfaction, brand
reputation, innovation, competitive advantage, etc.—and the fulfillment of the marketing concept. It is
also true that, increasingly, students come to the business school seeking training in such issues and
wanting to go to work for socially responsible companies and make a difference, as well as a living, in
their careers.”
NOTABLE COURSEWORK:
The following course descriptions are drawn exclusively from Beyond Grey Pinstripes, a
research survey conducted biennially by the Aspen Institute.
■ ESADE Business School
Managing Marketing from Global HQ (Core Course)
Instructor: Josep Franch
“The course on ‘Managing Marketing from Global HQ’ presents cultural and environmental impact
as an element to be taken into account in the strategy of internationalization. The course is principally
concerned with the application of a genuinely global perspective from headquarters: it insists on the
need for taking the cultural values of each region into consideration in order to design marketing that
respects these values; furthermore, it examines issues concerned with the social reputation of the
company as a result of its contribution to the development of an emerging country, its social investing
and its environmental policy. Moreover, marketing strategy is also planned with reference to socioeconomic
criteria, seeking to favor depressed areas through the implementation of lasting
entrepreneurial projects.”
■ Asian Institute of Management
Marketing Management (Core Course)
Instructors: E.M.P. Santos and A.V. Concepcion
“Marketing Management is a core subject in the two-year Master in Business Administration (MBA)
program. It is given on the first year of the MBM program to introduce students to the concepts and
theories of Marketing Management with focus on ASEAN business systems. It aims to help the
students learn a comprehensive and systematic approach to strategic marketing process and to learn to
think critically (ask intelligent questions) and strategically. Also, it aims to develop an appreciation
and understanding of marketing's roles and social responsibilities in a global society.”
■ Boston University, School of Management (2003 data)
Marketing Social Change (Elective Course)
Instructor: C.B. Battacharya
“Corporations have recently shown tremendous interest in corporate social initiatives by supporting
social causes and non-profit organizations. Many companies now have social responsibility managers.
Phrases such as "cause branding," "strategic volunteerism," and "enviro-preneurial marketing" have
infiltrated the mainstream business vocabulary as companies look for ways to integrate social
perspectives into their marketing strategy. This course trains students to be leaders who will catalyze
this management revolution.”
■ The University of North Carolina at Chapel Hill, Kenan-Flagler Business School
Legal and Social Environment of Marketing (Elective Course)
Instructor: Paul Bloom (now at Duke’s Fuqua School of Business)
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“Students become familiar with various topics, including the design of more effective campaigns for
socially- or environmentally-beneficial behaviors (for instance, a “stop smoking” or “don’t litter”
advertising campaign). Students also learn about corporate societal marketing initiatives that earn
profits and promote social welfare, antitrust issues, and public policies that protect consumers from
making poor marketplace choices and encourage vigorous competition for customers. Students
acquire skills and an improved ability to market socially and to assess government and corporate
social initiatives.”
■ Stanford University, Graduate School of Business
Global and International Marketing (Elective Course)
Instructor: Wasim Azhar
“This course addresses the opportunities and challenges associated with the development and
implementation of marketing strategy in international markets. It aims to develop frameworks and
knowledge that will enable future managers to better formulate and effectively implement marketing
plans in different regions of the world. Topics covered include global brand management; analysis of
various international market structures; market entry strategies in developed and emerging markets
including country selection and marketing program design based on consumer, country and
competitive analysis; international marketing mix strategies including the globally standardized
versus locally adapted marketing program debate; and international pricing, advertising and
promotion strategies.”
■ Georgetown University, Robert E. McDonough School of Business
Social Marketing (Elective Course)
Instructor: Alan Andreasen
“This course gives students a set of frameworks and tools valuable in bringing about socially
desirable behavioral outcomes beyond the economic marketplace. We consider the need for structural
change as well as changes in behavior by those carrying out undesirable practices. We discuss
challenges of raising issues on the public, media and political agendas, developing strategies to
influence legislators, business leaders, community leaders and the media to bring about social change.
Many of the examples discussed in class are in public health, violence prevention and economic
development.”
For additional courses on related subjects, search 1,672 descriptions at Beyond Grey Pinstripes.
NOTABLE TEACHING MATERIALS:
Materials referenced are meant to represent the diversity of related teaching resources available
at Caseplace.org. Most are available as free downloads to registered faculty members.
■ Case Study: Procter & Gamble and Population Services International (PSI): Social Marketing for
Safe Water
Source: INSEAD, 2006
PuR, the water purification product sold in small sachets, had suffered a string of failed market tests,
but the public health benefits of the product had been demonstrated repeatedly in bottom of the
pyramid (BOP) markets where finding clean drinking water can be a daily calamity. As part of its
global CSR (corporate social responsibility) expansion initiative, Procter & Gamble (P&G) move the
product from the commercial to the corporate sustainable development (CSD) unit, which took the
pressure off PuR brand managers to meet market sales projections. This move created new pressures,
however, for those managing CSR initiatives - to take the product global on a philanthropy budget.
Partnering with Population Services International (PSI), the global NGO (non-governmental
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organisation) with offices in over 65 countries, and expertise in social marketing, P&G would play a
supporting role. Building a sustainable social market for water treatment, in places like Haiti and
Uganda, presented challenges, but also presented unexpected benefits, measured in terms of P&G's
stakeholder engagement.
■ Suggested Reading: Marketing that Matters by C. Conley and E. Friedenwald-Fishman (Berrett-
Koehler Publishers, 2006)
Many business leaders view marketing as the crass, ugly side of business. This new book proves that
"marketing" isn't a dirty word — it's the key to advancing both business ideals and the bottom line.
Written by two down-to-earth, experienced entrepreneurs, Marketing That Matters is an in-thetrenches
guide to building a marketing plan that embodies personal values instead of exploiting them.
This compact volume provides overworked entrepreneurs, who want to match their mission with their
values but who lack the time or training to develop a strategy, with the steps needed to incorporate
effective marketing into their business plan.
■ Concept Paper: “What Research in Marketing Can Teach Managers About Improving Corporate
Social Performance” by Dr. Paul Bloom, Fuqua School of Business at Duke University
This paper presents an overview of the research undertaken by marketing scholars concerned with the
social impact of marketing practices. The author outlines the field and discusses: the recent research
focus to help managers to improve their company's performance; the study of harmful marketing
practices; the legislative and judicial treatment of certain marketing practices; the study of macromarketing
issues; the identification of practices which hinder and promote corporate social
performance and key questions which animate this research.
ONGOING QUESTIONS:
■ What type of academic collaboration is necessary for useful metrics to be developed that
effectively measure the impact of social and environmental marketing?
■ Are the expectations of corporate recruiters of marketing professionals changing at a
similar pace to changes in corporate practice itself?
■ What will the 2007 Beyond Grey Pinstripes survey results reveal about curricular shifts
over the past two years in marketing courses?
RESOURCES:
BeyondGreyPinstripes.org – World’s biggest MBA database, including detailed records on 1,672 courses,
1,730 extracurriculars, and 216 research articles at 128 schools on six continents.
CasePlace.org – A free and practical on-line resource for up-to-date case studies, syllabi, and innovative
teaching materials on business and sustainability. Created for the educators who will shape our next
generation of business leaders!
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A Closer Look is a monthly series of briefing papers on topical issues in MBA education, based on the research and programs of the
Aspen Institute. The Aspen Institute Business and Society Program works with senior corporate executives and MBA educators to
prepare business leaders who will effectively manage the financial, social, and environmental impacts of the private sector.
􀃆 Contact Justin.Goldbach@aspeninstitute.org to order reprints or to offer feedback.