Application of Marketing Theories to Practice

Application of Marketing Theories to Practice Introduction This report shows the different field of businesses and the methods that our company was using in SimVenture comparing with theories. Marketing and Sales Our company’s main marketing tool was advertising but we were using different like direct marketing, exhibitions and our website. However, digital marketing is limited only to website in the game, although this is getting more popular these days (Pittsburgh Post-Gazzette, 2006). Digital marketing defined by Jobber, 2007: â€Å"The application of digital technologies that form channels to market (the Internet, mobile communications, interactive television and wireless) to achieve corporate goal through meeting and exceeding customer need better than the competition.† Digital marketing is almost completely missing from the game, it is only limited to website. Network theory studies relationships of all sorts, whether between people, animals or things. Social network analysis is an overlapping tool for learn ing about patterns that develop within social networks and how they influence behaviour. Digital marketing channels such as Facebook, Twitter, Foursquare and Instagram are useful in this regard, as they allow marketers to listen to what consumers are saying, and they allow marketers to leverage the power of influential users to spread messages throughout their networks (Harvard Business Review, 2006.). Generational marketing theory holds that consumers born of the same generation — defined as a 20-year period — have common attitudes and behaviours because of shared experiences that influenced their childhoods and shaped their views of the world. The relevance of generational theory to digital marketing is primarily in the ways in which each generation communicates and the online places where marketers can reach them (Zickuhr, 2010.). The customer research in the game is only limited to where the customers heard about but nothing who they are (age, gender, education, et c.). All in all the game had good opportunities in traditional marketing channels like direct marketing and advertisement but digital marketing part is really limited which makes it less realistic. Operations Efficient operations management is a key element to make a company successful. Without supply network a company cannot exist. A supply network perspective means setting an operation in the context of all the other operations with which it interact some of which are its suppliers and its customers. Materials, parts, other information, ideas and network of customer-supplier relationships formed by all these operations (Slack, Chambers, Johnston, 2004.). The supply network view can also help in decision making about the design. The design activity in operations has one overriding objective: to provide products, services and processes which will satisfy the operation’s customers. During the game our company used ‘Just in time’ method for the production because i f there was more order then our organisation was able to produce then we contracted some out when it was financially possible. Furthermore, in the meanwhile of last year in the game, all of our production was contracted out because the four employees weren’t enough to build the product and to handle other task that were essential to run the company at the same time. High dependency theory is one of the explanation of the ‘Just in Time’ approach to operations management. With high inventories insulating each stage in the production process, the dependency of the stages on one another was low. Take away the inventory and heir mutual dependency increases. The ‘Just in Time’ practice of empowering ‘shopfloor’ staff makes the organisation dependent on their actions (Slack, Chambers, Johnston, 2004.). However, this theory perfectly suits with SimVenture, thus it is realistically show the opportunities and limitations of ‘Just in Timeâ₠¬â„¢ delivery and production because in the first year when financially it was not a possibility to contract out some of the production we bumped into some limitations according to the ‘Just in Time’ manufacture technique.