Saturday, June 22, 2019

Marketing Essay Example | Topics and Well Written Essays - 2500 words - 8

Marketing - Essay ExampleConcept of Marketing The marketing concept can be described as the achievement of corporate goals by meeting and exceeding customer needs and expectations better than the competition or competitors. This can be done by three steps 1. Customer druthers the gilds main digest should be on its target market i.e. customer satisfaction rather than solely improving costs and methods for the discovery itself 2. Integrated effort fulfilling customer satisfaction is not a one-man job, it requires a government team and workforce with the common motive to achieve this travail through production, finance, research and development 3. Goal achievement for integrated work to run smoothly and successfully, the management must have strong belief in the fact that corporate goals can be achieved through consumer satisfaction. Marketing Mix A marketing mix is a company strategy that helps boost a company customers, profits and innovations with the help of four steps (k nown as the 4 Ps) i.e. product, price, promotion, and place. These 4 Ps are the key decision elements that marketers must hail in order to achieve the wants and needs of their clientele above their competitors. This marketing mix however has been extended to 7 Ps with the three additions of people, progress and tangible evidence due to the rapid growth of the function industries. The emphasis of every individual element varies depending on the commodities the organization offers. Product. The product decision includes choosing which goods and services the company is willing and able to produce and supply to its target customers. This includes product creation as well as integration and development where by the products supplied and new and alter with the advancements in technology and taste. This phase also includes the branding image of the company i.e. its name, packaging and promotions and offers. It seems that Britvic seems to rely on the porters model of differentiation to grasp its products relevant to the UKs beverages market. Hence there is more focus on offering the customers a good variety and availability of product, importantly, along with a focus on development of the products to keep the customers interested rather than offer the highest standards of quality (taste) or uniqueness of product and taste. This might be because a large part of Britvics business activity consists of distributing drinks of established brands such as PepsiCo and hence the company can choose to rely on provision of quality service to other businesses to maintain relevance to the consumer market rather than on maintenance of quality. Placement. Placement deals with decision making regarding distribution channels. Key management decisions stress upon locations of its outlets, conveyance of title facilities, and inventory levels of stock and stock needing to be reordered. The main goal is to ensure products and services are available in the coveted and sufficient quan tities, at the desired time durations and venue. These distribution channels consist of organizations such as retailers and wholesalers who act as an intermediary through which commodities pass on their way to customers. Producers need to manage their relationships with these organizations in order for them to provide cost-effective access to that specific firm and the market they belong to. They also need to be familiar with new methods of

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