Tuesday, December 10, 2019

Entrepreneur and Marketing- Free-Samples- Myassignmenthelp.com

Qustions: 1.Find a Non-Profit Organization and how they are using financial Marketing. 2.Find two Companies one for Manufacturing and other from servicing Company See how they are following Financial Marketing. Answers: 1.Non-profit organisations are aimed at improving the society and making it a considerable place for people to reside. These organisations have no profit-making motive and seek support from the Government or any other business sectors. Rizzo (2015) stated that at times, the community in which it is set up also contributes to the cause of the welfare of the society. Thus, non-profit organisations do not have to market itself for any profit-making objective. In this regard, it can be said that financial marketing is also not required in an extensive manner for these organisations. Financial marketing is used to trade securities related to finances, trade, commodities as well as items of value that helps in the balance of supply and demand. According to Mintz and Currim (2013), financial marketing defines the marketing terminology in an efficient manner. This is because even in financial marketing the exchange of services takes place. However, for a non-profit organisation aimed at improving the social, financial marketing may be ineffective in terms of achieving the goals of an organisation. The trading of bonds and stocks are hardly applicable in case of non-profit organisations. However, some non-profit organisations can use the financial marketing in an effective manner than the others. It can be said that non-profit organisations involved with a particular business or Government can make investments in terms of achieving its goals. In this context, an example can be considered in order to understand the ways by which financial marketing can be used by a non-profit organisation. Clean Up Australia is a non-profit organisation that aims to eliminate any waste materials and address the issues that arise due to shortage or excess water and climatic change. Ian Kiernan founded the organisation in 1989 and in collaboration with different business organisations, community and the Government have managed to achieve proper results for the country. The success of the organisation can be attributed to the fact that it is an annual event in the country since its inception (Cleanupaustraliaday.org.au. 2017). In this context, the use of financial marketing by Clean Up Australia can be analysed. As stated earlier, financial marketing is the exchange of stuff between two or more entities. In the case of Clean Up Australia, the exchange of items required for the cleaning of the country can be used as part of financial marketing deal (Ennew, Waite and Waite 2013). This can be done because the company received support from the various profitable business centres as well as the Government. Apart from this, the productive use of the funds can be another important use for this company. This can be done by using the funds for the purchase of the equipment and upgrading them as per the changes in the society. Thus, financial marketing can be used effectively by nonprofit organisations in order to maintain the proper work that is being done in the society. In the case of Clean Up Air, the use of financial marketing is done in an effective and efficient manner. 2.According to Armstrong et al. (2014), societal marketing involves the marketing decisions that are taken by a company keeping in mind the needs and wants of the customers. This, in turn, leads to the assessment of the requirements of the company and the interests of the society. The aim of every company is to satisfy the customers and ensure that the responsibilities towards the society are also maintained keeping in mind the goals of the organisation. However, different industries set about different objectives while implementing the societal marketing concept in the organisation. In this case, the examples of manufacturing company as well as a service company can be taken into consideration. Moose Toys is an Australian toy manufacturing company situated in Melbourne. Brain Hamersfeld set up the company in 1985. The company has its branches in 85 countries and in the modern day is one of the top toy manufacturing companies in Australia (Moosetoys.com 2017). In this regard, it can be said that the company need to keep in mind the requirements of the company as well as the satisfaction of the customers. The target market of the company includes the children of the country. Hence, it is important that the company manufacture products that are safe as well as attractive for the children. On the other hand, the company also focuses on the ways to improve the requirements of the sector. With the expansion into a global market, the Moose toys have employed over 200 employees in countries like Australia, US and Hong Kong. Hence, it is required that the company make ample profit by collaborating with other companies. The licensing of Shopkins and the collaboration of it with McDon alds has resulted for further betterment of the company (Moosetoys.com 2017). Sydney Environmental and Soil Laboratory (SESL) Australia, is a private company that provides lab testing and services for landscape, environment, Government and so on. It offers to collect a sample for testing the sample of soil, water and the ground in various regions of the country. Simone Leake set up the company in 1983 for the sole purpose of providing support to the people of the society and ensuring that the services it provides benefits to the society. It also provides training courses for students pursuing a career in science (Sesl.com.au. 2017). In this regard, the use of societal marketing by this company can also be analysed. The company devotes time for the welfare of the society. Hence, it can be said that the company focuses on achieving the long-term interest of the society as well as maintain the requirements for the company. This can be done by testing for any harmful particles in the soil and water that may exist and cause harm to the people. It also ensures that the resources required for conducting these tests are available to the company. Hence, the focus remains more on the interests of the society and the company rather than the customers. Hence, this is a significant difference when compared with the societal marketing of a manufacturing industry. Reference Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014.Principles of marketing. Pearson Australia. Cleanupaustraliaday.org.au. (2017).Clean Up Australia Day - Official Site. [online] Available at: https://www.cleanupaustraliaday.org.au/ [Accessed 24 Aug. 2017]. Ennew, C., Waite, N. and Waite, R., 2013.Financial services marketing: An international guide to principles and practice. Routledge. Melanthiou, Y., 2016. Messages Not Getting Through: Societal Marketing to the Rescue.Journal of Promotion Management,22(2), pp.195-196. Mintz, O. and Currim, I.S., 2013. What drives managerial use of marketing and financial metrics and does metric use affect performance of marketing-mix activities?.Journal of Marketing,77(2), pp.17-40. Moosetoys.com. (2017).Home | Moose Toys. [online] Available at: https://www.moosetoys.com/ [Accessed 24 Aug. 2017]. Rizzo, T., 2015. Maximising results with data-driven financial marketing strategies.Journal of Brand Strategy,4(2), pp.114-126. Sesl.com.au. (2017).Environmental Consulting Soil Testing | SESL Australia. [online] Available at: https://sesl.com.au/ [Accessed 24 Aug. 2017].

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