Marketing Principles Report - Perfetto Juice Company
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Added on 2020-01-15
Marketing Principles Report - Perfetto Juice Company
Added on 2020-01-15
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Marketing Principles
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Elements of marketing process.............................................................................................11.2 Benefits and costs of marketing orientation for Perfetto Juice company..............................2TASK 2............................................................................................................................................22.1 Micro and macro factors which affects Perfetto Juice company..........................................22.2 Segmentation criteria for products in different markets.......................................................32.3 Choosing a target strategy for selected product....................................................................42.4 Affect of buying behaviour on marketing activities in different buying situations..............42.5 Repositioned for Perfetto Juice.............................................................................................54.2 Difference in marketing products and services to businesses rather than consumers...........54.3 Difference between international marketing and domestic marketing..................................5TASK 2............................................................................................................................................64.1 Marketing Mix for two different segments...........................................................................63.1 Development of new product................................................................................................73.2 Distribution strategy..............................................................................................................73.3 Pricing strategy in achieving organizational goals and objectives........................................83.4 Promotional activity in achieving organizational objectives................................................83.5 Understanding additional marketing mix..............................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONMarketing principles refers to a process through which firms can find out the needs andrequirements of customers. All the businesses in the world aim for gaining maximum profit andit is only possible when firms satisfy their services users. There are mainly four elementsinvolved in this process which are product, price, place and promotion (Sheth and Sisodia, 2015).All these four elements are important to carry out research through customers’ needs and wantsthat can be easily. Present report is about Perfetto Juice Company which is a fruit juiceproducing firm. It is a UK based company that provides their services to 15 different countries.This report covers different concepts and process which are involved in marketing. Further, itcovers the use of different concepts which are involved in targeting, positioning andsegmentation. Lastly, it also includes the use of marketing mix at various contexts.TASK 11.1 Elements of marketing processMarketing is a process through which businesses provide information regarding theservices or products developed by organizations (Jobber and Ellis-Chadwick, 2012). As it wasdiscussed above in marketing process there are four elements involved and these elements arevery essential in satisfying customers effectively. Following are the elements of marketingprocess used at Perfetto Juice Company:Environmental scanning: For an organization it is very important to scan the environment as ithelps in identifying the areas in which the firm needs improvement. Various tools likeenvironmental scan is possible through SWOT, PESTLE, Porters five forces, etc. (Jung,Hermann and Phelps, 2013). These tools help Perfetto Juice Company in developing paththrough which they achieve their objectives. Marketing tactics: In order to satisfy the customers, it is very essential to focus on 7Ps (price,place, product, promotion, physical evidence, people and process)Strategies of marketing: Division of people on the basis of gender, salary, age, etc. is veryimportant. It helps in achieving the goals according to the targeted audiences. This is possiblewith the help of segmentation, targeting and positioning. 1
1.2 Benefits and costs of marketing orientation for Perfetto Juice CompanyIt is very essential for Perfetto Juice Company to provide their customers with uniqueproducts so as to be competitive. Through market orientation, firm would be able to satisfy theircustomers effectively. They will be able to attract more and more customers and in gainingprofit (Armstrong, Adam and Kotler, 2014). With the implementation of marketing strategiesfirm identifies potential customers and they would be able satisfy their needs and wantsaccordingly. One of the best tool through which customers could be attracted is by providingthem with low price products but with high quality. Through this strategy organization couldcompete effectively with their competitors. Benefits which Perfetto Juice company get throughmarket orientation are improved customers relationship, profitability, upgraded quality ofproducts, competitive advantages, etc. (Challagalla, Murtha and Jaworski, 2014). In this context,all the Ps of marketing process are very helpful in positioning its services and products in themind of customers. In addition to this, market research and survey are very helpful in knowingthe customer's satisfaction level and in identifying the areas in which they need improvement.TASK 22.1 Micro and macro factors that affects Perfetto Juice CompanyMacro environment includes all the external factors which affect the organization.Following are the factors which affects Perfetto Juice Company:Political factor: Firm gets affected by the change policies imposed by government. Factorswhich affect the organization politically are change in Fiscal policy, tax policies, etc. Economic factors: This change have a direct impact on the organization. It includes inflationrate, change in demand, alteration in customer preferences, etc. (Armstrong Denize and Kotler,2014).Social factors: Taste and preference of countries would differ form other countries. For somemarket it would be favourable but there would market where it won’t be favourable.Technological factors: Change in innovation affect the business environment. To be competitiveit is essential for Perfetto Juice Company to make changes according to the variation orinnovation in technology (Challagalla, Murtha and Jaworski, 2014). Legal: In different countries they have diverse laws related to safety, consumer laws, etc. It isvery important for Perfetto Juice Company to follow all the legal laws and to act accordingly. 2
Environmental factors: This factor depends upon the environmental surroundings like climaticchange, geographical location. Weather, etc. (Marketing principles, 2016).Micro environment involves factors which have direct or high impact over theorganization. Firm could make use of different strategies through which they could makeimprovements. Following are the factors which affect the firm:Customers: They are the main source through which firm get to know whether they are gainingprofit or facing loss (Hastings and Domegan, 2013). It is very essential for Perfetto JuiceCompany to understand their customer's and in providing them products or services which wouldsatisfy them.Employees: They are the one who have direct contact with customers. In other words, they arethe face of organization. Employees should be monitored so that areas could be identified inwhich they lack and accordingly, they should be provided with training so that they couldovercome them.Competitors: There are many competitors for Perfetto Juice Company. These firms use differentstrategies so as to attract more and more customers (Qamar, Habiba and Amin, 2014). In thiscontext, Perfetto Juice Company should be able to use their creativity so that they could competeeffectively. Suppliers: They provide materials to organization. It is very important for them to maintain goodrelationship with them so that firm would be able to develop their products and supply themaccording to demand (Principles of Marketing, 2016).2.2 Segmentation criteria for products in different marketsSegmentation can be defined as a strategy through which targeted audience are dividedinto different subsets. It is helpful in developing strategies through which customers could beattracted easily. Following are the ways through which Perfetto Juice company:Demography: According to this segmentation division is done on the basis of gender, age,income, etc. (Brown, Browne and Browne, 2015) According to the products delivered by thisfirm. As it was discussed above, Perfetto Juice company provide fruit juice and they havemainly targeted to athletes accordingly, age group from 10 to 50 has been targeted. All thecustomers between this age group are provided with their products. Psycho graphic: In this, the division is done on the basis of beliefs, life-style, values, etc. fruitjuice are focused on young people. Preference of customers are different and accordingly firm3
should be able to deliver them products through which they would be able to satisfy theircustomers (Newton, Ewing and Finch, 2013). 2.3 Choosing a target strategy for selected productTargeting is very essential for the organization to develop plan with the help of whichthey focus on achieving their desired goals and objectives. Following are the strategies whichcould be adopted in choosing target strategies:Research and surveys: This one of the effective strategy which helps the firm in to know thepeople would be suitable for setting targets. It is also helps in determining the needs and wants ofthe customers and in developing products which would help in satisfying them (Shank andLyberger, 2014). There are many areas on which research can be conducted like knowingcustomer's satisfaction level, areas in which firm lacks, knowing needs and wants of thecustomers, etc.Differentiated marketing strategy: This strategy is very useful in achieving objectives like brandrecognition and maximization of sales. In addition to this firm can also make distinctiveness oftheir products at each customer segment (Lilien, Rangaswamy and De Bruyn, 2013). Further,they would be able to develop good image among the minds of the customers. 2.4 Affect of buying behaviour on marketing activities in different buying situationsThere are many factors because of which buying behaviour of customers affect.Following are few of them:Pricing: There are many firms which provide same type of products. Many of the organizationreduces their price and as a result customers buying behaviour changes (Wong and Huang,2015). They would shift to that particular product as customers get same product at lesser price. Quality: There are customers who prefer to buy quality products, even if the price iscomparatively high. In this context, the buying behaviour will get affected if firm is notproviding their customers with quality products or services. Promotional activities: Firm should select their target audience and choose the best toolsthrough which they will be able to attract their customers (Ennew and Waite, 2013).Advertisements plays a vital role in affecting customers buying behaviour and attractiveadvertisement would help in developing curiosity among customers and they would tent to buythe product.4
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