Unit 3 P1 P1 – describe how marketing techniques are used to market products in two organisations. Overall concept: The main thing behind marketing in a business is finding the customer’s needs and produce the product/ services to satisfy their needs, this way the customer can choose what they would want included in their product/ service. A business that follows this rule is market-orientated. There is alternatives orientation for businesses, these are; The production concept: This is where the business produces in large quantities and distribute in bulk, this is so the customer/ business get the products cheaper as they will be bulk buying. A business that would do this is Walkers. They make thousands of packets and then sells …show more content…
Brand awareness is the NHS’s number one objective, they want all of Great Britain’s public to know what they do. Brand awareness may be an individual product or the whole business itself. Tesco may advertise their Tesco club card so people are more aware of the club card you can get when you sign up with them. Perceptions of customers A customer’s perception of a business or a brand often affects their purchasing decision. An example of this is a business might have a lot of brand awareness but their products might not be of the highest quality. This will make the customer not want to come back into the store as they are paying for a cheap quality product. Tesco has a reputation of selling goods a cheap price to everyone, if they start selling their products higher than their competitors then they are likely to lose out on customers and sales which are why they try keep their prices as low as possible. People may also decide to shop at Oxfam for clothes rather than buying clothes from the high street as they know their money goes to good use. Techniques: Growth strategies Businesses grow through their products/ services every time they put a product on the market more and more people will find out about the product. For example Tesco have been using growth strategies as they are expanding with their services, such as Tesco Money, you can now have a credit card with Tesco which people who may don’t
Marketing- Infilling a market lead ethos thought out, researching on external opportunities to understand current and potential customers, developing the marketing plan and strategy. Managing budgets and market success.
Marketing is a very unique process that enables limitless methods or variations for an entity to appeal to a particular target market as well as to deter from a particular market. Marketing is used in more than just business; The kinds of clothes an individual wears and the attitude a person portrays can be used to market him or herself to the public for many reasons: Maybe to attract a woman a man is attracted to, possibly to impress the president of a company a person is interviewing for, and even to just create a base of his or her character in which other people will judge him or her by. Marketing is everywhere from the business side of the spectrum to relationships people have
Marketing is about understanding and acknowledging the needs of customers and leaving an impact on developing the absolute best product to meet their needs by the business. Marketing comes into account for any business and how they can develop to be the best and deliver the best customer satisfaction.
Marketing is the action or business of promoting and selling goods or services. A person who works in advocating for the good or service is called a marketer (Meerman, 2011). The main and most valuable purpose of marketing is to create awareness of a good or service to increase its sale. A customer is the most valuable business asset so marketing is mainly aimed at attraction of customers. It is therefore important for any organization to have a marketing plan. There are very many advantages of marketing in a growing an established business organization. Marketing helps the organization management to identify the different needs of the consumers. This is because a marketing plan should involve direct consultation with customers to know their
Growth strategies – It is the strategy which always aims high and tries to get as larger shares in the market as it can.
Good value products, means that the product is worth the money paid. This is the minimum expected from any business, whether it be through a products or service. This means that we expect a better quality product/service, for a higher amount of money. An example of this is you would expect a better quality TV if you paid £400; than if you paid £50. The top
Competition in the local areas – As stores are in rows joined onto other businesses it is predictable that someone else in the area is selling the same or related product therefore it puts pressure on the business to overcome rivals and attract more customers.
NBCUniversal, a media and entertainment company, will launch the streaming-video landscape with the a large-scale systematic plan of a comedy-focused subscription-video service dubbed as SeeSo.
Marketing is one of the most important aspects of a business. According to Peter Drucker “There will always, one can assume, be need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customers so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available.” (Peter Drucker, Marketing Management, Philip Kotler).
Marketing is the link between an organization's product and its customers. It helps an organization establish name recognition, distinguish itself from competitors, communicate its value proposition, and most importantly sell more products! Through proper marketing, an organization can develop a trusted "brand identity" and consumer awareness which builds important long term relationships with customers and results in repeated sales and increased profitability for the organization.
Marketing is a strategy that all organizations use in today’s society. In one way or another, business’s today need to market their purpose of existence. Although the strategy of marketing may be different in every industry, the basics of marketing are often times the same.
Marketing is used all the time with every business, from local corner shops to International supermarkets. Marketing is the process of promoting and selling a business’s products or services, it consists of four main elements: product, price, place and promotion. The marketing objectives of a business are the goals set by an organisation while promoting its product or services to potential customers.
When a company grows it achieves economies of scale, it increases its market shares and thus wipes out competition. A company starts making more profits and can use these in constructive ways such as employing specialist workers and improving the variety and quality of products, by delving more into research and development. These are only some of the
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.
In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and