P1 - describe how marketing techniques are used to market products in two organisations’
Marketing is the activity and process for creating, communicating, delivering, and exchange a product or service; which has values for the customers/clients. Overall it is an integrated process which builds customer relationship and creates an identity for their customers and themselves.
However, marketing can be separated into submarkets – Business to Consumer marketing and Business to Business marketing.
Business to Consumer Marketing:
This is the process by which companies create a value for customers and build a strong customer relationship. Importance of creating a customer relationship is for the business to capture a return value
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2. Developing The Market Strategy
This is the next step after collecting data from analysing the market and competition and also understanding the market’s needs and wants. Next steps are to refine the distribution; so what would be the best way to deliver the product or service to the target customer. The firm at this point identify their objectives and choose the right path to exploit any opportunities seen during the research stage.
3. Determining Actions and Controls
Final stage is when you implement the strategy. So to implement the strategy; the organisation has to analyse the financial costs by creating a budget and evaluate the costs. After having this data calculated, the marketing strategy is then put into action and during the period of the activation of the strategy the firm will continue to evaluate the effectiveness of the strategy and either start planning for a new one or extend if there may be any faults in the recent strategy.
Now looking at the two businesses given; Brodie’s Beer and Cadburys plc; they both are private sector businesses with Brodie’s Beer having aims to survive and maximising profit and Cadburys plc’s aims is to increase growth in market share and maximising profit.
Cadburys Plc
One of Cadburys’ products called Fuse was being developed and Cadburys had an objective set while working on their new product. Their objectives were:
To grow the market for chocolate confectionary.
To increase Cadburys’
Marketing – The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.
There are several steps to strategic plan. Interviews should be conducted with stakeholders to develop action plan. An environmental scan should be performed. A review of the history of the organizations structure, resources, strengths, and weaknesses should be evaluated as well as their major competitors. The organization should find opportunities expand their market. Finally, a strategy needs to be developed for the organization to compete in the marketplace (McDermott
There are six stages based on this strategy: Stage one consists of the development of an operational statement of the problem. It is an initial assessment and is like a foundation of other stages. State two of determination of what is known through the literature based on scientific research.Stage three deals with the quantification of the problem. Stage four involves the development of policy or
Marketing differs between business to business and business to consumer in a few different ways the main one is the emotional experience of the buyer. The marketing programs are the same, which includes: events, direct marketing, internet marketing, advertising, public relations, word of mouth and alliance. The difference is how each marketing program is executed, what is said in the program, and the outcome.
Business to business marketing is the sale of a product from one company to another. This segment type is not specific to one industry; companies such as Cox Communications, Sprint Mobile and other service providers all have Business to Business as a large part of their sales. Although many of the techniques of Business
Development of an Approach to the Problem.- This step occurs when they identify the information that they needed to make their objective (demonstrating the usefulness of marketing research) or theoretical framework come true, and make hypotheses.
The next step will be to prepare the operation plans. The operation plans should also reflect the scope and goals of the business, and they should consider several elements like competition in the market, infrastructure and many things that can be fundamental in ensuring the business gains a competitive advantage. The last step is to integrate plans. It is important to make sure that the plans have been properly balanced so that they can be able to support one another. The plans should be clearly communicated to the people implementing them. It is also important to review the plans from time to time to make sure that they in line with the trends in the business environment.
Marketing involves a range of specific information areas designed to be researched and analysed in order to make effective decisions about the future of the business. It involves marketing research; This related to finding out about The Customers – their ages, sex, social groups, income level and lifestyles; The Market – what customers are buying and how much they are willing to pay for that products and/or service; The competitors – they research their
Mission: At first the marketer has to know that why he is doing that business. What is his sole purpose regarding this business. Moreover they have to know what they want to achieve in future.
Marketing is to communicate a product to consumers/customers in order to sell it to them through different means such as social media, viral videos, newsletters or direct marketing.
Marketing is the link that connect customers with the organisation as it is the only department who knows the holistic nature of customers through it activity, such as market research.
Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.
Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (American Market Association, July 2013).
This stage includes planning, finding resources and applying them to materialize the vision. It is full of chaos, strategies are not formed yet and there is no set direction. Priorities keep on shifting as the goals are usually short term.