Materi Untuk Uji Komprehensif Saat Sidang Skripsi

Marketing (Mr.singh)

 Product Life Cycle

What Is a Product Life Cycle?

The term product life cycle refers to the length of time a product is introduced to
consumers into the market until it's removed from the shelves. The life cycle of a product is
broken into four stages—introduction, growth, maturity, and decline. This concept is used by
management and by marketing professionals as a factor in deciding when it is appropriate to
increase advertising, reduce prices, expand to new markets, or redesign packaging. The
process of strategizing ways to continuously support and maintain a product is called product
life cycle management.

How Product Life Cycles Work

Products, like people, have life cycles. A product begins with an idea, and within the
confines of modern business, it isn't likely to go further until it undergoes research and
development (R&D) and is found to be feasible and potentially profitable. At that point, the
product is produced, marketed, and rolled out.

As mentioned above, there are four generally accepted stages in the life cycle of a product—
introduction, growth, maturity, and decline.

 Introduction: This phase generally includes a substantial investment in advertising and

a marketing campaign focused on making consumers aware of the product and its
benefits.
 Growth: If the product is successful, it then moves to the growth stage. This is
characterized by growing demand, an increase in production, and expansion in its
availability.
 Maturity: This is the most profitable stage, while the costs of producing and
marketing decline.
 Decline: A product takes on increased competition as other companies emulate its
success—sometimes with enhancements or lower prices. The product may
lose market share and begin its decline.
 When a product is successfully introduced into the market, demand increases, therefore
increasing its popularity. These newer products end up pushing older ones out of the market,
effectively replacing them. Companies tend to curb their marketing efforts as a new product
grows. That's because the cost to produce and market the product drop. When demand for the
product wanes, it may be taken off the market completely.

The stage of a product's life cycle impacts the way in which it is marketed to consumers.
A new product needs to be explained, while a mature product needs to be differentiated from
its competitors.

Examples of Product Life Cycles

Many brands that were American icons have dwindled and died. Better management of
product life cycles might have saved some of them, or perhaps their time had just come.
Some examples:

 Oldsmobile began producing cars in 1897 but the brand was killed off in 2004. Its
gas-guzzling muscle-car image lost its appeal, General Motors decided.
 Woolworth's had a store in just about every small town and city in America until it
shuttered its stores in 1997. It was the era of Walmart and other big-box stores.
 Border's bookstore chain closed down in 2011. It couldn't survive the internet age.

To cite an established and still-thriving industry, television program distribution has related
products in all stages of the product life cycle. As of 2019, flat-screen TVs are in the mature
phase, programming-on-demand is in the growth stage, DVDs are in decline, and the
videocassette is extinct.

Many of the most successful products on earth are suspended in the mature stage for as long
as possible, undergoing minor updates and redesigns to keep them differentiated. Examples
include Apple computers and iPhones, Ford's best-selling trucks, and Starbucks' coffee—all
of which undergo minor changes accompanied by marketing efforts—are designed to keep
them feeling unique and special in the eyes of consumers.

 Marketing Mix

What is the marketing mix?

The marketing mix is a key foundation on which most modern marketing strategies
and business activities are based. But what is it? What are its components? And why is it so
heavily relied upon? 

The concept of the ‘Marketing Mix’ came about in the 1960s when Neil H. Borden,
professor and academic, elaborated on James Culliton’s concept of the marketing mix.
Culliton described business executives as ‘mixers of ingredients’: the ingredients being
different marketing concepts, aspects, and procedures. 
 However, it’s now widely accepted that Jerome McCarthy founded the concept. After
all, it was McCarthy who offered the marketing mix as we know it today; in the form of The
4Ps of Marketing: Product, Place, Price, & Promotion.

The 4Ps then paved the way for two modern academics, Booms and Bitner, who, in
1981, brought us the extended version of the marketing mix: the ‘7Ps’. The 7Ps comprise
McCarthy’s 4 original elements and extend to include a further 3 factors: Physical Evidence,
People, & Processes. 
As the requirements of customers, markets and products rapidly fluctuate, it’s
essential to consistently revisit the 7P formula. That is... if you want to get ahead of your
competitors and thrive. 

What are the 7Ps of the marketing mix? 

Now that you know the origins of these special little acronyms, let’s go into more
detail about each aspect of the 7Ps of the marketing mix.
1. Product 
The 7Ps begins with ‘product’. This could refer to a physical product, a service or an
experience. Basically... anything that’s being sold. 

Let’s face it, we’ve all been there - you buy a jacket from a dodgy website that looked
amazing on-screen but, when it arrives, well, it's vastly different from what you expected.
What do you do in this situation? Do you send it back and get a refund, complain online,
order a different size in the hope that that’s what the issue was, or simply accept this new
item into your life, shove it to the back of your wardrobe and pretend it’s all okay. 

Either way, this inaccurately advertised item has caused you unnecessary hassle and
left you feeling less than impressed. So no matter what your product or service is, it’s
important that it meets the demands of the market and satisfies, or exceeds, the expectations
of the customer. 

2. Place
‘Place’ signifies where you choose to distribute or allow access to your product or
service. It could refer to anything from a warehouse or a high-street store to an e-commerce
shop or cloud-based platform.

Ultimately, the place in which your business resides or affiliates has to be appropriate
for your brand and accessible for your audience. Consider where your customers will look for
your product (magazines, price-comparison sites), where they spend most of their time
(supermarkets, online stores, regular brick-and-mortar stores), and your sales capacity. You
should also take into consideration how and where your competitors are selling. 
 Where you choose to distribute your products can be dictated by many things, such as
your product type or your budget. But, ultimately, the best way to determine the perfect place
to sell your product is by really knowing your audience; their wants, needs and requirements.
3. Price
How much does your product or service cost? The price you set should reflect your
customer’s perceived value of your product and should correlate with your budget. If your
customer thinks your price is too high, you jeopardise losing a market that’s in it for a
bargain, if your price is too low then you run the risk of losing that all-important profit. 

4. Promotion
Promotion refers to your advertising, marketing, and sales techniques. This could
mean traditional advertising, via TV, radio, billboards, etc., or more modern methods, like
ads within web content, ads on a podcast, email marketing or push notifications.

5. Physical Evidence
When we get down to the brass tacks, it’s important for consumers to know that the
brand they’re purchasing from or interacting with, are legitimate and, well, actually exist in
real life. No Catfishing here, thank you. That’s where physical evidence comes in. 

Physical evidence often takes two forms: evidence that a service or purchase took
place and proof or confirmation of the existence of your brand. 

For example, any services or products received count as physical evidence. As do the
likes of your receipts, packaging, tracking information, invoices, brochures or PDFs, and so
on. 

6. People
Employees. Those people who are involved in selling a product or service, designing
it, managing teams, representing customers... the list goes on. The ‘people’ element of the
7Ps involves anyone directly, or indirectly, involved in the business side of the enterprise. 

There’s no use in creating a great brand, innovative product or amazing social media
presence if you don’t have the right people behind you. It’s integral to the survival of your
business that you make sure that all of your employees, no matter how behind-the-scenes or
customer-facing they are, have fair training and a considerable understanding of their role and
the impact that it has within the company. 

7. Processes
Process. The 7th ingredient in our marketing mix - ‘process’ describes a series of
actions that are taken in delivering the product or service to the customer. Examining the
process means assessing aspects such as the sales funnel, your payment systems, distribution
procedures and managing customer relationships. 

 Segmentation, Targeting & Positioning

What is STP marketing?
STP marketing is an acronym for Segmentation, Targeting, and Positioning – a three-
step model that examines your products or services as well as the way you communicate their
benefits to specific customer segments.
In a nutshell, the STP marketing model means you segment your market, target select
customer segments with marketing campaigns tailored to their preferences, and adjust your
positioning according to their desires and expectations.

STP marketing is effective because it focuses on breaking your customer base into
smaller groups, allowing you to develop very specific marketing strategies to reach and
engage each target audience. 

In fact, 59% of customers say that personalization influences their shopping

decision and another 44% said that a personalized shopping experience would influence them
to become repeat customers of a brand.
 STP marketing represents a shift from product-focused marketing to customer-
focused marketing. This shift gives businesses a chance to gain a better understanding
of who their ideal customers are and how to reach them. In short, the more personalized and
targeted your marketing efforts, the more successful you will be.

Segmentation
The first step of the STP marketing model is the segmentation stage. The main goal here is
to create various customer segments based on specific criteria and traits that you choose.
The four main types of audience segmentation include:

1. Geographic segmentation: Diving your audience based on country, region, state,

province, etc.
2. Demographic segmentation: Dividing your audience based on age, gender,
education level, occupation, gender, etc.
3. Behavioral segmentation: Dividing your audience based on how they interact with
your business: What they buy, how often they buy, what they browse, etc.
4. Psychographic segmentation: Dividing your audience based on “who” your
potential customer is: Lifestyle, hobbies, activities, opinions, etc.

Targeting
Step two of the STP marketing model is targeting. Your main goal here is to look at
the segments you have created before and determine which of those segments are most
likely to generate desired conversions (depending on your marketing campaign, those can
range from product sales to micro conversions like email signups).

Your ideal segment is one that is actively growing, has high profitability, and has a low cost
of acquisition:

1. Size: Consider how large your segment is as well as its future growth potential.
2. Profitability: Consider which of your segments are willing to spend the most money
on your product or service. Determine the lifetime value of customers in each segment
and compare.
 3. Reachability: Consider how easy or difficult it will be for you to reach each segment
with your marketing efforts. Consider customer acquisition costs (CACs) for each
segment. Higher CAC means lower profitability. 

There are limitless factors to consider when selecting an audience to target – we’ll get into a
few more later on – so be sure that everything you consider fits with your target customer and
their needs.

Positioning
The final step in this framework is positioning, which allows you to set your product
or services apart from the competition in the minds of your target audience. There are a lot
of businesses that do something similar to you, so you need to find what it is that makes you
stand out. 
 All the different factors that you considered in the first two steps should have made it
easy for you to identify your niche. There are three positioning factors that can help you gain
a competitive edge:

1. Symbolic positioning: Enhance the self-image, belongingness, or even ego of your

customers. The luxury car industry is a great example of this – they serve the same
purpose as any other car but they also boost their customer’s self-esteem and image.
2. Functional positioning: Solve your customer’s problem and provide them with
genuine benefits.
3. Experiential positioning: Focus on the emotional connection that your customers
have with your brand.  

The most successful product positioning is a combination of all three factors. One way to
visualize this is by creating a perceptual map for your industry. Focus on what is
important for your target customers and see where you and your competitors land on the map.

Benefits of STP marketing

If you aren’t already convinced that STP marketing is going to revolutionize your
business, we’re breaking down the key benefits that STP marketing has over a traditional
marketing approach.

Because STP focuses on creating a precise target audience and positioning your
products/services in a way that is most likely to appeal to that audience, your marketing
becomes hyper-personalized. With personalization:

 Your brand messaging becomes more personal and empathetic because you have

your customer personas and know exactly whom you’re talking to;
 Your marketing mix becomes more crystalized and yields higher return on
investment because you’re no longer wasting budget on channels that your audience
simply ignores;
 Your market research and product innovation become more effective because you
know exactly whom to ask for advice and feedback in the development phase.

Yieldify’s recent research shows that eCommerce leaders are adopting personalization at

an unprecedented rate – 74% of eCommerce sites now claim to have now adopted some
level of personalization strategy. Their reasons?

Fifty-eight percent found that personalization helps increase customer retention, 55%
cited conversion and 45% found that personalization actually helped minimize the cost of
new customer acquisition. 
Economic (Ms.Kartini)

 Law of Supply and Demand

What Is the Law of Supply and Demand?

The law of supply and demand is a theory that explains the interaction between the
sellers of a resource and the buyers for that resource. The theory defines the relationship
between the price of a given good or product and the willingness of people to either buy or
sell it. Generally, as price increases, people are willing to supply more and demand less and
vice versa when the price falls.

The theory is based on two separate "laws," the law of demand and the law of supply.
The two laws interact to determine the actual market price and volume of goods on a market.

Understanding the Law of Supply and Demand

The law of supply and demand, one of the most basic economic laws, ties into almost
all economic principles in some way. In practice, people's willingness to supply and demand
a good determines the market equilibrium price, or the price where the quantity of the good
that people are willing to supply just equals the quantity that people demand. However,
multiple factors can affect both supply and demand, causing them to increase or decrease in
various ways.

Law of Demand vs. Law of Supply

Demand
The law of demand states that, if all other factors remain equal, the higher the price of
a good, the less people will demand that good. In other words, the higher the price, the lower
the quantity demanded. The amount of a good that buyers purchase at a higher price is less
because as the price of a good goes up, so does the opportunity cost of buying that good.

As a result, people will naturally avoid buying a product that will force them to forgo
the consumption of something else they value more. The chart below shows that the curve is
a downward slope.

Supply
Like the law of demand, the law of supply demonstrates the quantities that will be
sold at a certain price. But unlike the law of demand, the supply relationship shows an
upward slope. This means that the higher the price, the higher the quantity supplied. From the
seller's perspective, the opportunity cost of each additional unit that they sell tends to be
higher and higher. Producers supply more at a higher price because the higher selling price
justifies the higher opportunity cost of each additional unit sold.

Seperti hukum permintaan, hukum penawaran menunjukkan jumlah yang akan dijual
pada harga tertentu. Tetapi tidak seperti hukum permintaan, hubungan penawaran
menunjukkan kemiringan ke atas. Ini berarti bahwa semakin tinggi harga, semakin tinggi
kuantitas yang ditawarkan. Dari sudut pandang penjual, biaya peluang dari setiap unit
tambahan yang mereka jual cenderung semakin tinggi. Produsen memasok lebih banyak pada
harga yang lebih tinggi karena harga jual yang lebih tinggi membenarkan biaya peluang yang
lebih tinggi dari setiap unit tambahan yang dijual.
 For both supply and demand, it is important to understand that time is always a
dimension on these charts. The quantity demanded or supplied, found along the horizontal
axis, is always measured in units of the good over a given time interval. Longer or shorter
time intervals can influence the shapes of both the supply and demand curves.

Factors Affecting Supply

Supply is largely a function of production costs such as labor and materials (which
reflect their opportunity costs of alternative uses to supply consumers with other goods); the
physical technology available to combine inputs; the number of sellers and their total
productive capacity over the given time frame; and taxes, regulations, or other institutional
costs of production.

Factors Affecting Demand

Consumer preferences among different goods are the most important determinant of
demand. The existence and prices of other consumer goods that are substitutes or
complementary products can modify demand. Changes in conditions that influence consumer
preferences can also be important, such as seasonal changes or the effects of advertising.
Changes in incomes can also be important in either increasing or decreasing quantity
demanded at any given price.

Frequently Asked Questions

What is a simple explanation of the law of supply and demand?
In essence, the Law of Supply and Demand describes a phenomenon that is familiar to
all of us from our daily lives. It describes the way in which, all else being equal, the price of a
good tends to increase when the supply of that good decreases (making it more rare) or when
the demand for that good increases (making the good more sought after). Conversely, it
describes how goods will decline in price when they become more widely available (less
rare) or less popular among consumers. This fundamental concept plays an important role
throughout modern economics.

Why is the law of supply and demand important?

The Law of Supply and Demand is important because it helps investors,
entrepreneurs, and economists to understand and predict conditions in the market. For
example, a company that is launching a new product might deliberately try to raise the price
of their product by increasing consumer demand through advertising.

At the same time, they might try to further increase their price by deliberately
restricting the number of units they sell, in order to decrease supply. In this scenario, supply
would be minimized while demand would be maximized, leading a higher price.

What is an example of the law of supply and demand?

To illustrate, let us continue with the above example of a company wishing to market
a new product at the highest possible price. In order to obtain the highest profit margins
possible, that same company would want to ensure that its production costs are as low as
possible.

To do so, it might secure bids from a large number of suppliers, asking each supplier
to compete against one-another to supply the lowest possible price for manufacturing the new
product. In that scenario, the supply of manufacturers is being increased in a way that
decreases the cost (or “price”) of manufacturing the product. Here again, we see the Law of
Supply and Demand.

 Microeconomics

What Is Microeconomics?
Microeconomics is the social science that studies the implications of incentives and
decisions, specifically about how those affect the utilization and distribution of resources.
Microeconomics shows how and why different goods have different values, how individuals
and businesses conduct and benefit from efficient production and exchange, and how
individuals best coordinate and cooperate with one another. Generally speaking,
microeconomics provides a more complete and detailed understanding than macroeconomics.

 Fixed Cost

A fixed cost is a cost that does not change with an increase or decrease in the amount
of goods or services produced or sold. Fixed costs are expenses that have to be paid by a
company, independent of any specific business activities.
In general, companies can have two types of costs, fixed costs or variable costs, which
together result in their total costs. Shutdown points tend to be applied to reduce fixed costs.

Human Resource Management (Ms.Eva)

 human resource management (HRM)

Human resource management (HRM) is the practice of recruiting, hiring, deploying

and managing an organization's employees. HRM is often referred to simply as human
resources (HR). A company or organization's HR department is usually responsible for
creating, putting into effect and overseeing policies governing workers and the relationship of
the organization with its employees. The term human resources was first used in the early
1900s, and then more widely in the 1960s, to describe the people who work for the
organization, in aggregate.

HRM is employee management with an emphasis on those employees as assets of the

business. In this context, employees are sometimes referred to as human capital. As with
other business assets, the goal is to make effective use of employees, reducing risk and
maximizing return on investment (ROI).

The modern HR technology term human capital management (HCM) has been used
more frequently compared to the term HRM. The term HCM has had widespread adoption by
large and midsize companies and other organizations of software to manage many HR
functions.
  The importance of human resource management
The role of HRM practices are to manage the people within a workplace to achieve
the organization's mission and reinforce the culture. When done effectively, HR managers
can help recruit new professionals who have skills necessary to further the company's goals
as well as aid with the training and development of current employees to meet objectives.

A company is only as good as its employees, making HRM a crucial part of

maintaining or improving the health of the business. Additionally, HR managers can monitor
the state of the job market to help the organization stay competitive. This could include
making sure compensation and benefits are fair, events are planned to keep employees from
burning out and job roles are adapted based on the market.

 Functions of Human Resource Management

Human Resource Management functions can be classified into the following three categories.

o Managerial Functions,
o Operative Functions, and
o Advisory Functions

The Managerial Functions of Human Resource Management are as follows:

1. Human Resource Planning - In this function of HRM, the number and type of employees
needed to accomplish organizational goals is determined. Research is an important part of
this function, information is collected and analyzed to identify current and future human
resource needs and to forecast changing values, attitude, and behavior of employees and their
impact on the organization.
2. Organizing - In an organization tasks are allocated among its members, relationships are
identified, and activities are integrated towards a common objective. Relationships are
established among the employees so that they can collectively contribute to the attainment of
the organization's goal.
3. Directing - Activating employees at different levels and making them contribute
maximum to the organization is possible through proper direction and motivation. Taping the
maximum potentialities of the employees is possible through motivation and command.
4.  Controlling - After planning, organizing, and directing, employees' actual performance is
checked, verified, and compared with the plans. If the actual performance is found deviated
from the plan, control measures are required to be taken. 

The Operative Functions of Human Resource Management are as follows:

1. Recruitment and Selection - Recruitment of candidates is the function preceding the
selection, which brings the pool of prospective candidates for the organization so that the
management can select the right candidate from this pool.
2. Job Analysis and Design - Job analysis is the process of describing the nature of a job and
specifying the human requirements like qualification, skills, and work experience to perform
that job. Job design aims at outlining and organizing tasks, duties, and responsibilities into a
single unit of work for the achievement of certain objectives.
3. Performance Appraisal - Human resource professionals are required to perform this
function to ensure that the performance of employees is at an acceptable level.

4. Training and Development - This function of human resource management helps

employees acquire skills and knowledge to perform their jobs effectively. Training and
development programs are organized for both new and existing employees. Employees are
prepared for higher-level responsibilities through training and development.
5. Wage and Salary Administration - Human resource management determines what is to
be paid for different types of jobs. Human resource management decides employee's
compensation which includes -  wage administration, salary administration, incentives,
bonuses, fringe benefits, and etc,.
6. Employee Welfare - This function refers to various services, benefits, and facilities that
are provided to employees for their well-being.
7. Maintenance - Human resource is considered an asset for the organization. Employee
turnover is not considered good for the organization. Human resource management always
tries to keep their best performing employees with the organization.
8. Labour Relations - This function refers to human resource management interaction with
employees represented by a trade union. Employees come together and form a union to
obtain more voice in decisions affecting wage, benefits, working conditions, etc,.
9. Personnel Research - Personnel researches are done by human resource management to
gather employees' opinions on wages and salaries, promotions, working conditions, welfare
activities, leadership, etc,. Such researches help in understanding employee satisfaction,
employee turnover, employee termination, etc,.
10. Personnel Record - This function involves recording, maintaining, and retrieving
employee-related information like - application forms, employment history, working hours,
earnings, employee absents and presents, employee turnover, and other data related to
employees.

The Advisory Functions of Human Resource Management are as follows:

Human Resource Management is expert in managing human resources and so can give advice
on matters related to human resources of the organization. Human Resource Management can
offer advice to:
1. Advised to Top Management
The personnel manager advises the top management in the formulation and evaluation of
personnel programs, policies, and procedures.
2. Advised to Departmental Heads
The personnel manager advises the heads of various departments on matters such as
manpower planning, job analysis, job design, recruitment, selection, placement, training,
performance appraisal, etc.