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Business Market and Global Business - Report
13 Pages3082 Words112 Views
Added on 2020-05-28
Business Market and Global Business - Report
Added on 2020-05-28
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Running head: GLOBAL BUSINESS MANAGEMENT OF FORTNUM AND MASONGLOBAL BUSINESS MANAGEMENT OF FORTNUM AND MASONName of the StudentName of the UniversityAuthor Note
1GLOBAL BUSINESS MANAGEMENT OF FORTNUM AND MASONExecutive SummaryThe report has talked about the business market and global business distribution of Fortnum andMason products. Fortnum and Mason are one of the biggest companies in the UK so their wine,tea, cakes all these are collected from this company. The innovative touches in all those productsmake them rich in terms of product quality. Better revenue generation is also expected form thecompany, in this reason marketing strategy like 7Ps' of marketing strategy has been used toanalyze the product and price format. Market segmentation has been done and age groupdifferentiation for wine also states a new dimension in culture. Their income, taste, culture allthese are different form demographics people and that is the reason better strategic planning isneeded in that situation.
2GLOBAL BUSINESS MANAGEMENT OF FORTNUM AND MASONTable of ContentsIntroduction......................................................................................................................................3Marketing mix of Brand..................................................................................................................3Market segmentation, Target market, and Positioning....................................................................6Consumer behavior and facility.......................................................................................................8Importance of market research........................................................................................................9Recommendation.............................................................................................................................9Conclusion.....................................................................................................................................10References......................................................................................................................................12
3GLOBAL BUSINESS MANAGEMENT OF FORTNUM AND MASONIntroductionFortnum and Mason, an up market departmental store established in London in 1707, hasrapid growth in their production. They have varieties products and the company has focused oninnovative upgradation of products. In case of better business management, company can makebetter decisions that encourage better productivity as well (Fortnumandmason.com 2017). Arefreshing environment has persisted in the hotel that also encourages people to understand thequality that Fortnum and Mason deliver to their customers. In case of demonstration and socialresponsibility customer involvement and better product deliverance are the key factors of thecompany have analyzed for their better revenue generation. As per the focus of activeemployees’ demography, 15.2% of employees’ engagement has been noticed in the UK and thisculture produces have impacted more engagement in terms of better management. Marketing mix of BrandThe marketing mix is a strategic change in marketing basically depends on the traditionallimitation of product enrichment. There are lots of marketing strategies and all those strategiesare implemented in product marketing and promotional policy (Ferraro and Briody 2017).Classic marketing form is applied to the modern business scenario then market position of thecompany become stagnant, so better implementation of process and marketing association isneeded for better marketing process. 7Ps of marketing strategy used over this brand so thatproduct flow and better revenue generation can be sustained.The first section is dealing with Products. There are lots of products in Fortnum andMason and all those innovative products are very attractive to people. They have products likecakes, biscuits, pastry, chocolate, mincemeat, Florentine. All these products are good in quality
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