Our project report is on the AK-QI-03 Akyga Wireless Charger Pad, which was released in 2019 (Q3) but was not able to achieve a strong market position. We will evaluate the Marketing & Communication strategy for this Akyga wireless charger model (Wireless charger pad AK-QI-03) via this article.
Akyga Wireless Charging Pad AK-QI-03 is an advanced tool that puts an end to customer uncertainty when their cell phone batteries are empty. It allows easy phone charging anywhere, anytime. Generally, Akyga wireless chargers are not too heavy and do not need a number of chargers to be transported; hence it is easy to bring around anywhere.
This project will examine the shortcomings of the existing approaches and establish a strategic marketing and communication strategy for the wireless chargers of the Akyga company and especially for the Akyga wireless charger pad AK-QI-03.
It is obvious that it will take time to settle in the market for the Akyga wireless charger pad AK-QI-03 to be a fairly new product launched on the market.
Our project focuses on intergrating different marketing approaches (eg. SWOT analysis (Abdi, M., et al., 2011) and PESTEL analysis (http://fernfortuniversity.com/term-papers/pestel/nyse4/693-international-paper-company.php)) that will help to boost the product’s market share and shape a market place in the times ahead (Poolton et al., 2006).
About the Akyga company
The Akyga company was introduced in the market in the year 2004, during the assembly production of LCD monitors and other computer accessories, such as keyboards, mice, card readers and hard disk cases.
The company began to dynamically expand its product offer since 2007. Its Computer cases have been a great success on the European market, which has resulted in the expansion of the company’s permanent offer.
In subsequent years, other product groups were added to the offer, such as AV cables, USB cables, mains power cables, as well as surge protectors.
The direction of development resulted in 2013 of a wide range of power adapters for notebooks, tablets and other mobile devices etc.
At the beginning of 2015, a new product group of uninterruptible power supplies UPS, as well as the first models of power banks appeared in the offer.
Since 2016, Akyga has a unique power supply compatibility search engine, which significantly facilitates browsing the offer in terms of specific requirements.
However, when Akyga’s wireless charger pad AK-QI-03 was launched, it was a new brand in the market and slowly and gradually people have started understanding its quality. We believe the product is currently in its growth stage, although the sales volume is currently small, but the demand it will cater for in the upcoming times is big (https://www.akyga.com).
Marketing managerial issue
We choose Akyga wireless charger pad AK-QI-03, because it is a new product that helps customers solve immediately the problem that occurs with their phone batteries when they are empty. It allows easy phone charging anytime and anywhere. Also, it is known that smart phones have revolutionized our way of life and we get addicted to technology. However, heavy battery usage while using a smart phone cause the battery to die out faster than normal. Also, there are not so many public charging points.
Thus, wireless chargers are very helpful in easy charging of cell phones (https://www.computerworld.com/article/3235176/wireless-charging-explained-what-is-it-and-how-does-it-work.html).
However, the Akyga wireless charger pad AK-QI-03, launched in early 2019 (Q3), did not provide the results as expected at product launch. In this project report, we will examine the shortcomings of the existing approaches and then build a general strategic plan for wireless chargers of the Akyga company (https://www.akyga.com).
Our goal is to establish an integrated strategy based on marketing and marketing communication theories and combination of pracices to promote the purchasing of Akyga wireless charger pad AK-QI-03 by a larger number of customers.
Marketing literature review
Marketing literature provides a wide range of recommendations on how to do marketing and communication (Weinacht, S., 2015).
Communication, as a term in organisations, is called the manner of their employees of sharing and transferring their thoughts and sentiments. So marketing contact is a mechanism process in which marketers attempt to communicate their message about a product with the targeted clients. In other words, marketing and communication is the total of direct or indirect attempts to inform, persuade and remind their target customer about the products (Dawar and Niraj, 2004. https://businessjargons.com/marketing-communication.html).
Moreover, communication efficacy is measured by the thoroughness of the communication and having an unbiased response from the intended recipient. So many companies focus primarily on strategic communication through integrated marketing tools (Popescu, 2002).
Here are the most important theories and approaches concerning marketing and communication literature:
1) Integrated marketing communication (IMC), Market Orientation (MO), Brand Orientation (BO)
There are several research publications that discuss advances in integrated marketing communication and the increasing importance of its component processes that affect marketing managers (Pitta, D. A., et. al., 2006).
For the advertisement of products the IMC is also tested over time and through category classifications for services and physical goods (Grove, S. et. al., 2007).
Moreover, it is studied the rise of IMC as an important example of marketing discipline evolution. It has influenced thinking and acting among all types of companies and organizations confronted in an open economy with the realities of competition (Holm, O., 2006)
In addition, the result of IMC is a development and combination of recent and aged marketing strategies. IMC combines all forms of communication and message marketing (Manik H., 2017).
Market orientation (MO) also determines an organization’s background by accepting a marketing concept and the systems or procedures that motivate market orientation (Harris, 1998. Manik H., 2017).
Brand Orientation (BO) refers to well-designed brand strategies that preserve the relationship between customers and third parties at all levels. (Bridson, K., Evans, J., 2004).
Figure 1: Intersection of IMC, MO and BO
(Source: Manik H., 2017)
2) SWOT Analysis marketing method
SWOT analysis is a very popular marketing planning method. SWOT is an acronym for strengths, weaknesses, opportunities and threats faced by business organisations (Humphrey, A., 2005. Abdi, M. et al., 2011. Madsen D., 2016. Emet, G. & Merba, Tat., 2017).
SWOT analysis is used effectively to build organizational strategy and competitive strategy. According to the System Approach approach, businesses as a whole interact with their environment and consist of various subsystems. In this sense, the organizations exist in two environments: one environment includes the internal factors of the business (strengths and weaknesses) and the other the external factors (opportunities and threats). Therefore, it is necessary to examine and analyze these factors (Emet, G. & Merba, Tat., 2017).
igure 2: SWOT Analysis
(Source: Alipour, M., https://www.researchgate.net/figure/Scheme-of-SWOT-analysis-see-online-version-for-colours_fig1_322190145/download)
3) PESTEL analysis marketing method
PESTEL analysis consists of a market’s political, cultural, social and technical features as a deeper approach to the marketing environment. A more prolonged form of this study is called PESTEL, combining the legal and environmental aspects that affect the marketplace (https://PESTELanalysis.com/PESTEL-and-swot-analysis/).
Marketers uses PESTEL analysis as a tool in order to analyse and notice the external marketing environment (macro-environment). As it is known macro-environment in such companies has a great impact on their functioning and mainly in planning and implementation of their strategic marketing plans (Dockalikova, I., Klozikova, J., 2014).
PESTEL Analysis may properly be called an in-depth view of the external environment in which an organisation works. SWOT analysis is, on the contrary, a study of the company’s internal environment based on its goods etc. (https://www.professionalacademy.com/blogs-and-advice/marketing-theories—pestel-analysis). Thus, the results of PESTEL analysis is used to identify the SWOT analysis of a company.
In Figure 3 are shown the macro-environmental factors in turn.
Figure 3: The macro-environmental factors of PESTEL-ANALYSIS
4) Stage of product life cycle
Product Life Cycle (PLC) is the process of managing the entire lifecycle of a product from its growth to decline. Product Life Cycle has four (4) stages:
- Research and development
(https://courses.cs.washington.edu/courses/cse466/03au/pdfs/lectures/L12-ProductLifeCycle.pdf. https://transportgeography.org/?page_id=4276. Rink, D. R., Swan, J., E., 1979).
igure 4: Product Life Cycle
Application of Literature review
In this section, we will try to choose and combine some of the theories and approaches concerning marketing and communication, as described above in order to meet the learning outcomes.
Situation analysis of the company
1) SWOT Analysis for the Akyga company:
– Akyga is a brand name that has set out to provide a wide and professional offer of high quality products in the field of power supply and development of consumer electronics. Many years of presence on the Polish and foreign market have resulted in gaining experience that has allowed to gradually optimize and improve the brand’s products (https://www.akyga.com/).
– Akyga has an excellent R & D team, customer service and after sales provision.
– The Akyga wireless charger AK-QI-03 do not use batteries that may explode and also might pose a threat to the environment. It is certified with ROHS (Restriction of Hazardous Substances).
– Akyga has a very limited online presence in the market as compared to its competitors.
– The growing demand for smart phones and netbooks in all age groups makes Akyga ‘s market more expandable.
– Οther companies like Samsung, Huawei and Xiaomi have ventured into this segment selling much more expensive power banks.
– A lot of companies that have entered the market pose a threat to market share for the company.
The target groups of Akyga
First of all, it is important to estimate the target market that we serve. The target markets lead us to estmate the desires, requirements and aspirations of people on the market. For example, the requirements of a youth is tottally different from those of the olders. Therefore, knowing the unique target audience that we are aiming for is key.
The main target groups of Akyga company are:
– Akyga will target the users of smart phones, who are always on the move or travel a lot and have no time to sit and charge their phones or to find charging points everywhere.
– Individuals who want their devices in working condition all the time because of their occupation or addiction to smartphones often fall into this group.
The main objectives of Akyga
- To penetrate the market in an aggressive way by promoting the products it produces. - Το convince the market that it has quality products. - To gain market share by having a well-known Brand name.
2) PESTEL Analysis for Akyga:
PESTEL analysis for the Akyga company is discussed as follows:
a. Political Factors
This are all about how a government intervenes in the economy, and to what degree. This could include – government policy, overseas market political stability or uncertainty, international exchange policy, tax policy, labor law, environmental law, export controls, and so on.
It is clear from the above list that political issues also influence organizations and how they do business.
Organisations must be able to adapt to current and expected future laws and change their marketing strategies accordingly.
The political factors may therefore be interpreted as to the degree to which the government interferes with the operation of a company (https://www.professionalacademy.com/blogs-and-advice/marketing-theories—pestel-analysis).
Thus, the international borders, obedience to rules and regulations, government policies or taxes can also prove to be a challenge for this joint venture to work in the future.
b. Economical Factors
Economic environment involves the variables that are directly influenced by any economic adjustments, such as inflation levels, government monetary policies, exchange rates, interest rates, bank rates, etc (https://www.professionalacademy.com/blogs-and-advice/marketing-theories—pestel-analysis),
The Akyga company obtains the elements and the paramaters to be one of a key players in the wireless charging markets.
c. Social Factors
Social influences include the cultural aspects of an economy, such as population development, age distribution and general aspects. In Akyga’s case, the age group catered to are the people who can not see their phone batteries going dead and want an immediate backup of the batteries.
d. Technological Factors
Technological factors include aspects such as making use of the latest technological developments, R&D in the said sector. In case of Akyga, provides the latest technology in this field whereas wireless charger pad AK-QI-03 has a position of providing financial support and aggressive marketing.
e. Environmental Factors
- External factors include such issues as climate change, weather and other external factors that can influence an organization’s functioning. In case of Akyga’s wireless charger AK-QI-03, as is is said above, it do not use batteries that may explode and also proect the environment as it is certified with ROHS (Restriction of Hazardous Substances).
- This is one of the biggests issues of many companies that relies on thw usage of batteries and proper disposal of batteries in order to protect the environment.
f. Legal Factors
Regulatory considerations include-health and safety, fair opportunity, fairness in advertising, consumer protection and regulations, drug labeling and food safety. It is obvious that companies need to know what is and what is not legal for successful trade. If an company is trading internationally, this is a very difficult area to get correct as each country has its own set of laws and regulations (https://www.professionalacademy.com/blogs-and-advice/marketing-theories—pestel-analysis). In the case of Akygas company, it must ensure that workers operate in a healthy environment and are not exposed to some kind of substance that can cause any chronic disease.
Marketing program activities used by the competitors concerning the applying Standards
The companies apply three Standards: Qi, PMA and A4WP. The biggest commpetition is between PMA and Qi. They are three dfiferent technologies.
Akyga applies Qi Standard to its devices. Also, there are more than 200 industry members, such as Nokia, LG etc.
Qi is no less capable than PMA. However, when it comes to driving infrastructure projects the consortium is going tit-for-tat with PMA. Qi has good end-user support, too.
So the questions are: Who is going to win this? Who loses in all this?
Finally, the following Table shows the differences between these technologies.
Table 1: Comparison of Qi, PMA and A4WP
- Conclusion, Recommendations and Future work
Wireless charger such as Akyga Wireless Charging Pad AK-QI-03 is a relatively new product on the market. As the product was launched in 2019 (Q3), the product and its details are not known to many people, which is why the product has not earned much profit. Every new product launched onto the market takes time to grow and shape perception among consumers.
Akyga AK-QI-03 target group is people who can’t ”survive” powerlessly on their cell phone. It helps the customers simply tap on the power and start the charging device.
Akyga AK-QI-03 is an induction charger which looks good on your desk. It is easy to use because this device allows to charge the battery without a cable, making it an ideal solution for broken sockets or to reduce wiring. This device allows you to use the phone case while it is charging. Three coils enable charging the phone in both vertical and horizontal positions. Thanks to the Quick Charge technology the charge time advantage up to 75% than regular chargers with a 5V 1A and 38% more efficient than Fast Charge (https://www.akyga.com).
The AK-QI-03 charger is compatible with mobile devices which have Qi induction charging technology. It is equipped with two USB ports for charging the phone and two additional devices at one time. Start and the end of the charging process is indicated by a two-color LED. The device has a microUSB input for connecting to a network charger or power bank with the included USB cable.
Technology is now becoming a major part of our daily lives. It’s hard to think of just going around without music, sport, social networking or reading e-mails. It’s not unusual to see kids in cafes, theatres, airports or train stations, gymnasiums or any other location we could think of glued to their smartphones.
With such a heavy use of smartphones, the battery life decreases very rapidly and it’s typically hard to find a place to charge your phone in public. Additionally, one would have to wait before charging the phone which is an absolute waste of time. So, with a portable charger, this problem can be solved quickly, which is not hard to carry around either.
No doubt the product has not done well since its launch but through proper marketing strategies and more product promotion we can create awareness in people’s minds about the uses and benefits of the said product.
From the point of view of the company, it is important to understand the needs and demands of the customers and every attempt should be made to meet the demands of the consumers. On the other hand , the company will also seek feedback from its existing customers to find out what the users like and dislike about the product, as well as more innovations to R&D and make the product better to cater for a broader audience.
According to above analysis, our recommendations are:
The first method that we can use is advertisement:
a. Online Advertising / Online Marketing:
Online marketing is the practice of using Web-based platforms to transmit a message to potential consumers about a company’s brand, goods, or services. Online marketing approaches and strategies include email , social media, display ads, search engine optimization, Google AdWords and more. The aim of marketing is to reach potential clients across the platforms where they spend their time reading, searching, shopping and online socializing (https://www.optimizely.com/optimization-glossary/online-marketing/).
Internet marketing varies from conventional marketing, which traditionally included outlets such as newspaper, billboard, TV, and radio advertising.
Finally, it optimizes Return on Investment (ROI).
Also. the key tools for developing and sustaining a strong online marketing programme (https://www.optimizely.com/optimization-glossary/online-marketing/):
– Social Media Marketing (Facebook, Instagram, Tweeter, LinkedIn)
– Search Engine Optimization (SEO)
– Display Advertising
– Search Engine Marketing (SEM)
– Events & Webinars
– A/B Testing & Website Optimization
– Content Marketing
– Video Marketing
– Marketing Analytics & Automation
– Customer Relationship Management (CRM)
– Content Management System (CMS)
– Pay-per-click (PPC) Advertising
– Affiliate Marketing
b. Outdoor Advertisement: Stadiums, subways, taxi’s, interactive billboards, public places, lamp posts, bridges, guerilla advertising, point of sale displays, retail advertising and stunt advertising (https://penji.co/types-of-outdoor-advertising/).
2. Direct Marketing
Direct marketing is a method of campaign advertisement that tries to cause a response from a particular target audience. This could be anything like e-commerce visits or just fill out an data request form on a landing page (https://www.cyberclick.net/marketing/direct-marketing).
Examples of direct marketing are: catalogues, direct mail, sending messages via cell phones to people to make them aware of the product, shopping channels, websites, fliers, telemarketing, coupons, prizes, promotional letters and other promotions such as special discounts etc.
3. Public Relations (PR)
Examples of PR are: press conferences, special events, interviews, industry awards ceremonies etc.
4. Sales and customer service
Optimized customer helpdesk, brochures, billing, returns and repairs.
Furthermore, the Akyga company will also target end users of cell phones, those who are on the move and who have little time to charge their phones. People who want their devices in working condition all the time because of their occupation or smartphone addiction frequently fall into this category.
Theory and concepts for our management plan
For our marketing plan, there are three (3) basic elements for discussion:
The Akyga brand trademark appeared for the first time in 2004. Currently, the brand, using its many years of experience, focuses on improving its products quality and following technological development to always provide a modern offer. As a result, the sale of professional electric car charging equipment started in 2019, and a year later also chargers for other electric vehicles, such as bicycles and scooters. The brand’s assortment also includes power supplies with 80 PLUS certification, which testifies to very good efficiency and high quality of devices. The company’s constantly expanding offer, attention to product quality and pro-ecological attitude are currently its greatest adventages strengthening its position on the market (https://www.akyga.com).
It is critical that marketers recognize and communicate the needs and requirements of the target markets. Communication can take the form of online discussion forums, telephone calling, direct mail, radio and other means that help the customer understand what the company has to offer and help the company understand the needs and needs of its potential customers.
Only the word of mouth contact may attain a wide market share for a company. It is easy to build or destroy the reputation of a company from what the customer feels right about the product. The word of mouth contact is transmission of information from person to person. If current customers are satisfied with the use of the product, they will certainly talk well for the product, but if the company does not make any attempt to address the issues that the customers are facing then then it is likely that it will have a detrimental impact in the minds of the consumers to whom the knowledge will be spread further.
– Decision making process
Communication often represents a two-way operation. A rational consumer never buys any product without having to undertake a proper market survey. For this purpose, it is important that the company communicates with its consumers and makes them aware of the product, its uses and advantages, so that more and more people become aware of the product.
In addition, it is critical for organizations to obtain appropriate input from current users of the product in order to enhance the actual product. Companies will also take care of the after sales service in a comprehensive manner so that in the event that a customer encounters some form of problem when using the product, his needs and concerns are promptly addressed (Elbanna, S., 2006).
For a future work we could suggest to try to find approaches and new methods to remove some created gaps between strategic development and strategic outcomes, and also organizational project management that involves the portfolio, the program and the project management.
We could try to find new processes and modern methods, innovative ideas and principles that will help the marketers to apply more flexible approaches for their managerial issues (https://www.liquidplanner.com/blog/seven-future-trends-in-project-management/).
For example we could try to apply the Agile approache (Audin, S., Yasarol, L., 2018. Burgio, R., 2017) or the Kanban method especially with the aid of a software tool (Ahmad, M. O., 2013. Rajat B., et al., 2015) as a more visual and workflow-based project management methodology or apply Fuzzy cognitive maps and Fuzzy decision maps for PESTEL Analysis (Váquez, M., et al., 2018).
Our thoughts on this project have changed greatly during the writing process. As part of this project, we had to write our marketing and communication project. At first we thought it wouldn’t be so difficult, as we have already taken similar courses to the subject of this study. We understand the way to do research, so we didn’t think such a project would be so difficult, because, it wasn’t the first time we’ve been required to write a something similar.
First of all, we realized that we should find a suitable company and then define the objectives of this project. Furthermore, we searched deeply for the ideal methods of marketing and communication in order to faciliate the interpretation of the directness of our findings.
Fortunately, we had many chances of communicating with our supervisor and obtained practical support regarding various aspects of the work. We clarified together our expectations from this experience and we discussed took about the issues of choice of the company and choosing of marketing methods. We received detailed feedback for all the chapters of the research. Also, discussions were held about analysis of the company and its product associated with the study project.
We must admit that we encountered some difficulties searching for literature review of the study, which we were confronted with stubborn and methodical work, under the guidance and support of our supervisor.
So, we feel proud of ourselves having set the aims of our study, found the suitable company and marketing methods and having done a thorough job describing exactly how the project would be built.
However, after the feedback, our pride hurt. Obviously, in our study were missing some basic factors. At this point in time, we must admit that we felt a little like a fool for describing in a deficient way some parameters in the Section Situation analysis & planning methods or in the Section of Recommendations & Approaches of communication. It was clearly ill-informed. We needed to take a step back and re-assess.
We also needed to develop endurance, perseverance and self confidence as we could not afford to have our pride hurt every time we receive feedback. So we had fallen into writing with strength exactly what it required.
Also, we suddenly understood that we had tackled the problem with the eyes of a marketer rather than a researcher. We needed to focus on the research question and methodology.
It occurred to us that we had two distinct and disjoint views of the project, one as a marketer and one as a researcher. We needed to be clear when we were acting in one role versus the other. The basic question was: Could we really be marketers and researchers, simultaneously on the same project?
The given advice by our supervisor were very helpful in terms of increasing the quality of the project and equipping me with knowledge of effectively conducting similar studies in the future in general. Moreover, our project mentor was not only highlighting the shortages that were associated with our project, but also were giving detailed explanations why these changes were desirable in a passionate way.
Furthermore, we found the communication with our supervisor as a motivational and informative experience, because it increased the level of our personal interests in marketing topics.
Moreover, we have demonstrated our interpersonal and communication skills at various stages of doing similar projects.
Our interpersonal skills have also played a positive role when we asked some of our trusted colleagues to present them our project. We believe that following this strategy o presenting our project to our friends has enhanced the quality of our project.
However, our communication skills have played a crucial role in terms of succeeding in making the presentation effectively. We have learned from our experiences within and outside of academic settings that communication skills play the most crucial role in terms of succeeding in personal and professional lives.
For instance, an individual may possess a deep knowledge about a certain area. However, if the individual lacks competency of communicating his or her ideas, knowledge and feelings in an effective manner, the overall competency of the individual and the level of his or her contribution to the organization will always remain compromised.
Therefore, in our opinion, regardless of the field, industry or type of organisation, communication skills can be specified as a compulsory attribute for an employee in order to be considered an a competent. In our case in particular, our advanced level of communication skills have enabled us to do our project effectively which has resulted in positive acclaim from our peers and mentor.
Although, such an approach to work seemed to be very challenging and confusing during the writing process, we appreciated the value of critical analysis once the final work was completed. The skills of critical analysis that we have developed and applied in project can easily be applied when real business issues would need to be resolved by us in the future in our professional capacity.
Therefore, the skills we developed during the process of completing this research can be used in order to successfully manage other health projects in the future.
Moreover, our writing skills have also been greatly improved as a result of engaging in research and project. Despite the popular opinion that with the increasing importance of information technology the practice of writing reports or projects are being replaced by alternative means of business communications, the value of writing a project for the business managers will always remain important.
From this point of view engaging in research report or project was a very beneficial experience for us on a personal level. Specifically, writing this project of about 4,500 words in total, including this reflection statement, has made us better prepared to join the full-time workforce once our studies are completed.
Lastly, as a result of preparing the research study our professional interest on the issues associated with marketing and communication has been enhanced. Moreover, we are planning to continue studying similar issues and that knowledge would benefit us in the future as a marketer.
Also, this experience has increased the level of our motivation for studying, making bold plans for our future career and implements necessary measures and initiatives in order to accomplish these plans. The level of our self-confidence has also been increased, because we could complete the project in time.
The paramount importance of self-confidence for an individual is an indisputable matter. Self-confidence allows us to set ambitious plans and utilize all the available resources efficiently in order to achieve these plans.
Our time-management skills have also been improved. This is because there was a specific deadline for this project, so se had to adopt some principles related to time management in order to be able to submit our work on time.
These principles included setting specific deadlines for each step of our work, and above all, dramatically cutting the amount of time we used to browse social networking sites on the internet. We can highlight this fact as one of the most substantial gains. This is because prior to the research experience we used to spend several hours a day browsing a set of social networking sites with no real benefit whatsoever. However, once the priority was given to the project, this bad habit was dealt with effectively and irreversibly.
To summarize, completing this project of marketing and communication, has increased the level of our preparedness to join the full-time workforce and successfully utilise our energy and knowledge and collaboration.
In our opinion the biggest benefit we received is that completing the project we believe more in our skills and capabilities and they have also awoke our desire to approach studying as a lifelong process.
Moreover, we have obtained a set of professional and personal gains as a result of completing the project that include the development of a critical mindset, improvement our writing and time management skills and enhancement of the level of our self-confidence.
Finally, now that our project has been submitted, we are looking forward to having now freed ourselves of methodological constraints.
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