Companies practicing the marketing concept strive to satisfy customers' needs while achieving the organization's objectives at the same time. From a managerial point of view, Marketing is the process of planning and executing the concept, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Because consumers are constantly seeking quality products and services, companies continue to seek how to meet customer expectations. Businesses today face a number of challenges and opportunities including globalization, the effects of advances in technology, laws, and regulations.
The marketing strategy will present consumers with a line of fine quality imported or domestic foods or products. The marketing strategy will also include the introduction of a loyalty program in which will reward consumers with perks and savings for their continued support. In order to create such a program that will become popular with consumers, data will need to be collected and analyzed. This is where the marketing department will be spending a lot of time on. The expansion of the company will require additional market research in interested regions.
This information is valuable in enhancing your advertising to better reach your concentrate on group. Customer Fulfilment is a great technique which gets to present clients as well as potential buyers in your potential audiences. Assess do it again income to see if present clients are buying more of their products after Coca-Cola’s marketing have begun. Creating a positive marketing concept can also immediate present clients to feel a sense of guarantee in their company that can result
Adding products to certain stores to reflect the geographic, demographic, behavioral segmentation market target in that specific area along with its regular items that can be found in each of its stores. Kudler Fine Foods stores reading material mentions they carry Asian products. Additional market research will illustrate to the company that along with Asian products consumers are also looking for products from across the world as North America is home to many nationalities. Such activities brought about through the results of marketing research will assist Kudler Fine Foods to build and maintain the company's relationship with the customers and how much the customer values the store and the product and services it renders. This is beneficial to the company, its shareholder, and society.
In this assignment I will be describing and comparing marketing techniques used to market products in two organisations, Walkers and Costa Coffee, I will then evaluate the effectiveness of these techniques. Marketing is the management process through which goods and services move from concept to the customer or the development and implementation of a promotional strategy. A number of different marketing strategies can be used to promote a product or service to consumers. Branding Branding is the process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.
Development of the product’s size, quality, design, brand name, and packaging are important when trying to match with customer’s needs and wants. An organization should explain how their product’s features benefit the customer. Place: Where the customer meets the product. The question is how does the customer get to that place? An organization needs to make sure the product or service they are offering is in the appropriate location where its target markets can reach it.
Market research should be done on a continual basis to keep up with trends in the market and keep a competitive edge against competitors. It can be used to identify potential customers which can answer who are going to use their product/service? Are they male or female? Etc. It’ll allow the company to understanding existing customers.
(www.sainsburys.co.uk) 1. B. Explain a few various marketing concepts and evaluate the cost and benefits of adopting marketing orientation in your organization. To improve a good marketing and to have a orientation every company is using their marketing orientation: Product orientation of marketing is focuses on high quality products to satisfy the customers’ wants and needs. Production orientation is a business orientation who believes in reduction costs through mass production which will reduce costs and maximise profits.
Such information would assist the development of products that focus on buyers preferences. Ben & Jerry’s could produce flavors to seasonal changes, help with concentration of advertising, and design attractive packaging to get the attention from buyers. Ben & Jerry’s could attain information that will help forecast increase or decline of products due to seasonal changes and adjust production and distribution in the different areas. 2. To create a detailed data base, Ben & Jerry's would need a very large number of files.
It also provides customer support in the form of consulting to these customers. HubSpot has reached a point where the company can provide limited service to a diverse set of customers thus needs to consolidate and target a specific group which can provide highest utility for its efforts. HobSpot should consider the expected Consumer Lifetime Value while selection of the target markets and should consider various ways to maximize it. Key implication of narrowing the target market is better service to the customer which will result into increased retention rates. As we know increase in retention rate in the customer segment has a significant positive effect on the CLV.