Marketing & Entrepreneurship

Question: Discuss about the Marketing Entrepreneurship. Answer: Marketing in NPO cThe urge for gathering financial aid to complete the respective missions has been the prime priority of a non-profit organization. Various academic fields have recognized the importance of marketing approaches and techniques for these organizations.(NUCB Global Nonprofit Management Team, 2013) There are many researchers who have agreed with this viewpoint that non-profit sectors should provide more importance on market orientation. There are different approaches which have been used by the sector such as customer centred approach. As these organizations are becoming global they acquire techniques of marketing depending on the region and culture as well. Hence, non-profit sector has become a global market and marketing techniques are being used extensively by this group(Harrison Shaw, 2002 ). Charity: Water is one of the non-profit organizations which have been using content marketing strategy. They have completed five successful years and during their fifth anniversary, they introduced a campaign in which they would be thanking their supporters and well-wishers who had helped the organization to collect $42 million. This fund was being indulged in more than 4,200 water projects which were being rendered to two million people. As a marketing strategy, they have created a video which was handled by their own staff. Thus, they offered an innovative method to display contents of an organization. This visual form of content would act as a long-lasting material for charity: water. They followed a strategy by engaging their employees in publishing content. This campaign helped them to encourage their supporters and raise more funds for new water projects(Dolnicar Lazarevski, 2009). Billabong Billabong has created a revolutionary impact in the field of sport goods. It has begun with a humble start in 1970s in Australia and has now covered various regions in the world. It can be stated that billabong has got the status of a global household name during its years of journey. The team of billabong have always adopted a customer centred approach when it comes to business. The brand has expanded its territories in this digital age according to the needs of the customer. Billabong has an aim of targeted audience and tries to focus on their targeted audience in terms of marketing and advertising(Williams, 2015). They have always tried to streamline their mode of communication. It means that they focus on a particular genre of customers and build relationship with them. This customer centred approach has provided them worldwide fame in terms of sports such as surfing and skiing(Billabong, 2016). They have always maintained their brand value by relating it to the recent fashion prevailing in the industry. The company has always tried to endorse sport activities and link their products with these activities and stories. One of the strategies of Billabong is to endorse their products through stories. Storytelling has been proved as a powerful strategy for the company as it engages their customers and makes them captive. They cleverly link an inspiring story with their product and endorse a lifestyle through the medium of a product. In this way, Billabong connects to its customer in an emotional way (Billabong, 2016). FMCG Fast moving consumer goods companies are such companies whose products are consumed by people over daily basis. Fast moving consumer goods companies such as Nestle, Proctor Gamble, and others are some of the biggest companies in the world(Nagarjan Sheriff, 2013). Various marketing strategies are used by such companies and these strategies decide their performance and ranking. Three such companies are taken as examples and their performance is evaluated in this section(PwC, 2015). Proctor and Gamble: PG has been serving various sectors worldwide since many years. There are nearly 300 brands which have been endorsed and marketed by PG. PG has been into various sectors such as food, healthcare, skin-care and others. According to the statistics of 2014, the company had net sales of $83 billion. The net profit of the organization has increased to $11.6 billion in the year of 2014. The company is widespread across 180 countries and is number one in FMCG companies. Over 90 percent of the business is focused on its 50 brands. The diversification in terms of sectors helps the organization to tackle down economic instability and can be considered as one of the main reasons of its endurance for a long term. The organization generally uses mass marketing strategy as it is into different sectors. As an organization, PG just needs to prioritize its techniques according to the sectors and regions it is into. The divergent nature of the brand will always help it to sustain ( PwC, 2015; Mbaskool, 2016). Nestle S.A: The organization which is headquartered in Switzerland is the second top most company in the field of FMCG. It is located in 194 countries and with a good brand reputation in the market. Various products such as KitKat, Maggie and Nescafe are famous worldwide. The company has marketing strategy concentrated or narrowed down to confectionary and food business. The tag line of the company "Good Food Good Life" shows the interest of the organization and its approach towards its business. The organization has been stated as number one in the list of most profitable companies of 2011 made by Fortune magazine. Nestle began its journey in 1866 with milk chocolates and baby food. It has grown into 8000 brands conquering sauces, soups, nutrition, infant foods, coffee, and other food products. Recently, news about the compromise in quality in India was considered as one of the setbacks for the organization. Quality is a parameter which should be checked by the organization. Moreove r, Nestle should increase its presence in various sectors (Mbaskool, 2016; PwC, 2015). Unilever: The organization is British-Dutch and is ranked as third in the sector of FMCG companies. The company is headquartered in London and Rosterdam. The company markets products such as Ponds, Dove, Knorr, Lux, and Lipton. The company was started in 1929. The company focuses on personal care, cleaning agents, beverages, and food. It operates 400 brands and majorly focuses on personal care. Unilever should introduce more innovative marketing methods to increase market presence due to present competition with other organizations such as PG(Mbaskool, 2016). References Billabong, 2016. Billabong. [Online] Available at: https://au.billabong.com [Accessed 20 August 2016]. Dolnicar, S. Lazarevski, K., 2009. Marketing in non-profit organizations : an international perspective. University of Wollongong Research Online. Harrison, P.J. Shaw, R.N., 2002. Intra-Organisational Attitudes to Marketing and the Implementation of the Marketing Concept in Nonprofit Organisations. ANZMAC Conference Proceedings. Mbaskool, 2016. Top 10 FMCG Companies in the World 2015. [Online] Available at: https://www.mbaskool.com/fun-corner/top-brand-lists/13470-top-10-fmcg-companies-in-the-world-2015.html?limitstart=0 [Accessed 20 August 2016]. Nagarjan, G. Sheriff, D.J.K., 2013. Emerging Challenges And Prospects Of FMCG Product Development in India. International Journal of Marketing, Financial Services, Management Research, 02(01), pp.41-52. NUCB Global Nonprofit Management Team, 2013. Exploring a New Marketing Strategy for Nonprofit Organizations: An International Perspective. International Journal of Marketing Studies, 05(06), pp.8-14. PwC, 2015. Global Top 100 Companies by market capitalisation. IPO Centre. Williams, A., 2015. How Billabong keeps its brand relevant in the digital age? [Online] Available at: https://www.cmo.com.au/article/580354/how-billabong-keeps-its-brand-relevant-digital-age/ [Accessed 20 August 2016].