CONTEMPORARY MARKETING

Contemporary Marketing

Contemporary Marketing

Introduction

Contemporary Marketing develops products or services to satisfy customers demand, or equivalently, the products can be conceived as a set of satisfier. The current design marketing strategies of brands and communication based on consumer psychology, marketing is a concept, a marketing symbol. In fact, the marketing, to set up their business proposals, not only handles physical properties and attributes, tangible (products/ service), but mainly cognitive benefits and symbolic representations (images of marks) (Shama, 2005, 695). The customer's relations with the product/service, is not direct and immediate, but indirect and mediate. The most important causes of failure in the international market are insufficient preparation and information. Marketing research is "a systematic and objective approach taken in the development and acquisition of information for decision-making process of marketing management."

Marketing is applied to other cultures or different realities beyond our environment, and thus, must take into account multiple factors in the development and introduction of products. The producer should try to design and produce goods that meet consumer needs. Marketing has many more functions that must be met before beginning the process of production, among them; include market research and design, development and testing of the final product (Melewar, 2002, 29). The paper is going to focus on contemporary marketing in which we shall be discussing micro and macro issues of hiring an international student; further positioning strategy that the university should adopt shall be discussed. Marketing mix and other tools and methods shall be discussed in order to successfully run marketing program of the university.

Discussion

Macro/Micro Environmental Issues Influencing Overseas Market

"The result can be achieved through the use of opportunities, not the way to solve problems. Themselves the same results should occur from the use of opportunities: to find the correct paths and actions and to focus on their resources and efforts”.

“P. Drucker”

Today the interest in the problems of strategic management exacerbates the unexpected changes in the environment that require rapid and appropriate response of the company to maintain and strengthen its competitiveness (Albaum , 2004, 161). The environment, in which university is operating, it is qualitatively different: the increased competition in a saturated market leads to a higher degree of uncertainty and, therefore, there are unforeseen risks. It is obvious that management priorities have been shifted with the change management.

Swot

Strength

Strong reputation with stakeholders: Government (e.g. UKTI; DoH), funders (e.g. HEFCE), and students

Financial stability and management

Rising home and international student demand and recruitment

Technology Park and CUE

Cultural and linguistic diversity of staff/ students/City

Increasing the quality and amount of applied research

Weakness

League table position

Student retention, satisfaction and graduate employment on some courses

Poor adaptability of processes to changes in demand. Unnecessary bureaucracy

Tightly constrained city centre site. Old buildings not meeting current requirements for energy and space efficiency

Opportunities

Government and HEFCE commitment to employer based HE

Increased international recruitment to Coventry; delivery of programmes overseas

Use of subsidiary companies to drive diversification and innovation

Sites available for new build and low long-term interest rates

Framework 7 and other EU ...