MGM630-0804B-04 Applied Managerial Marketing - Phase 2 Discussion Essay

MGM630-0804B-04 Applied Managerial Marketing - Phase 2 Discussion Board - Essay Example The company deals with a variety of items and is well spread across the three state region in around 1 ten stores. The company has been in this business from 1992 and has not been very inclined towards brand building. The company dealt mainly with only importing and selling of home dà ©cor and gift items and is now looking at moving into house ware items as well. Efforts are being made to improve the brand awareness and also the product portfolio of the company. There are a few issues that the company might face in the case of increasing the brand awareness. Since the company has been in the industry for such a long period and has always used brown bags to wrap their products, there has been very little or almost no attention that has been given to the GGI. It is not known if the company even has a reputation in the market at all. Also as the company is just starting to move into a new product line – House ware, it is obvious that the brand has no awareness for this portfolio of products. Also with the declining sales in the whole sale business and the store business remaining flat, it is obvious that the company is lacking a lot of marketing. To resolve these issues it is essential that steps are taken to correctly market the company and increase brand awareness. To do this it is firstly essential to understand the role of marketing in a society and how it affects a firm. The next section will deal with understanding this in brief. As already mentioned earlier, marketing plays a very important role for every business. It is a process of identifying, anticipating and satisfying the customer requirements. Marketing can be done using a number of different tools like advertising, branding, direct marketing, publicity etc. It is essential that all firms understand one simple concept, that societies do not require marketing and can exist