MARKETING ASSIGNMENT

Marketing Assignment



Marketing Assignment

Chapter One

(1) The American Marketing Association (AMA) is the professional association for the people and businesses that are having a value in their work. Their main responsibilities are Connecting, Informing and Advancing. Connecting indicates to the work when the AMA serves as a medium to promote knowledge sharing. Informing refers a term that has relation to providing resources, education, career and professional development opportunities. Finally, the advancing refers to the last work carried out by the professionals in completing their task in the best possible way.

(2) Product-oriented companies keep in mind the adage, Build a better mousetrap and world will beat a path to your door. This strategy assumes that if a seller offers a superior product or service, customers will buy from the seller without having to resort to discounts or other gimmicks. Product-oriented companies work with marketing departments to learn what the marketplace wants, developing or modifying products to meet these needs. A pizzeria that offers pies with real cheese and fresh toppings might not have to offer two-for-one or other discounts if its competitors sell lower-quality pizzas (Achenbaum, 1972, 37).

Case Study

Harmonix

(1) The marketing management philosophy that was used by Harmonix was Marketing Based Management. Market-Based Management helps organizations to earn success for a longer period of time with the application of principles that enables free societies to have a better future. The importance of values such as free speech, property rights, and progress are significant to any developing or developed organization. The application of the instruments of a free-market society which was possible because of marketing management philosophy enabled Harmonix to create a successful business. There are two major mechanisms to MBM, along with ten guiding principles and five magnitudes. The ten crucial principles are vital towards the inner culture of an organization that are integrity, compliance, value creation, principled entrepreneurship, customer focus, knowledge, change, humility, respect, and fulfillment. These principles join together for creating a dynamic and positive culture for the entire organization. An organization's culture is the main indicator of success, and a healthy, flourishing workplace is one of the major objectives of MBM which an organization always desire. Therefore, this was the marketing management philosophy used by the organizations (Alderson, 1957, 75).

(2) Former shareholders in Rock Band developer Harmonix are owed $383 million by MTV parent Viacom, an accountant has determined. Former shareholders in the Cambridge-based company include Colorado venture capitalist Brad Feld, a former Boston entrepreneur. Viacom disclosed the accountant's determination, the outcome of a private dispute resolution process in a regulatory filing on Tuesday. Shareholders of Harmonix and Viacom have battled over earn-out payments agreed to at the time of Harmonix's 2006 sale to Viacom. The sale involved an initial payment of $175 million, and made Harmonix part of MTV. Shareholders had sought an additional $700 million in earn-out bonuses, according to Viacom's filing. Viacom said it has filed suit to vacate the $383 million determination. Harmonix never took institutional venture capital, and raised just ...