Contemporary Issues in Marketing: Enterprise Car Case Study
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This report discusses the importance of marketing, marketing process, marketing mix, and introducing new products/services through the case study of Enterprise Car. It emphasizes the need for effective marketing strategies to gain competitive advantage in the market.
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Contemporary Issues In Marketing Table of Contents
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INTRODUCTION..........................................................................................................................3 TASK..............................................................................................................................................3 Explanation on Marketing...........................................................................................................3 Importance of Marketing.............................................................................................................3 Process of Marketing...................................................................................................................4 Brief explanation on Marketing Mix...........................................................................................5 Introducing Product/Service........................................................................................................6 Conclusion.......................................................................................................................................8 REFERENCES................................................................................................................................9
INTRODUCTION Marketing is very important fororganizationbecause in this business do promotion, selling their products and get their product delivered to their customers.It helporganization to achieve their organization objectives.This enhance their performance level of production of their business operation. The marketing help management to generate profits and expand and grow their business in marketplace. Then management is able to gain competitive advantage in market from their competitors(Balcerzak, and Pietryka, 2019).This report is based on Enterprise Car which was established in UK in 1957.Thisenterprise offer taxi service to their customer in market. This report includes brief explanation on marketing process that how it will impact the business operation and marketing mix for developing their new products/ services in market. TASK Explanation on Marketing Marketing is framework which management need to play their role in theirorganization. In marketing, there are many different activity is involved which management need to perform for theirenterprisegrowth and development. Then only it is possible for theirbusinessthat they able to sustain theircompanyfor long term period in market. In marketing,organizationof management need to proper examine need and wants of their customers in market(Chon and Zoltan, 2019). Then only they able to know about taste and preferences which is changed and management need to choose and manufactured products accordingly in market. The Enterprise Car need to do marketing activities which is very important for business in market. In Enterprise Car, management need to prepare marketing strategy for Enterprise so that they able to beat their competitors for long term period. This able to help management to capture attention of customer in market towards organization. Importance of Marketing In organization, marketing have very big role in business operation because it helps marketing team to developed product according to their customer needs and wants of customer. This help management to sell their product in marketplace and deliver their product to customer. Marketing also help management to do promotion of their products by using different platform like social media platform, Print advertisement, etc. this all cab use to promote their activities of
organization. In Enterprise car, management need to prepare strategy for their organization that it willnotaffectbusinessoperationactivity(Hall,Seyfi,andRasoolimanesh,2022).The management of Enterprise Car need to choose appropriate advertisement activity which will help organization to make their brand awareness more in market. If brand promotion is done on large scale then they will able to capture customer attention towards their organization in marketplace. This will sustain their customer for long term in market and they able to make loyal customer for organization. This help management to grow and expand their business in marketplace. Process of Marketing In marketing process, there are many steps is involved in company which management need to follow and apply infirmto run their business operation smoothly.Let's discuss all process of marketing in brief in below: ď‚·Understand Market Competition:In this,market competition the management must need to proper examine competition level in market.Then management can prepare strategy according to competition level of marketplace.This help Enterprise Car to choose products accordingly and sustain their customer for long term in market. ď‚·Understand customer:The management need to understand their customer need for this they need to do research and development process in organization. This is a responsibility forEnterprise Car that they properly examine market so that they able to know about their needs and wants of customer(Jorge Alberto and Cristian Armando, 2021). Then management need to full fill those needs and wants of customer. So that they gain customer loyalty in market for their company. ď‚·Market Niche:Theenterpriseof management set their different target markets within marketplace according to different market segments such as age, gender, behaviourism, location, etc. Enterprise Car need to set their target market in UK, so that they able to categorised their customers into different groups. It became easy for firm to generate revenue in organization. ď‚·Set Sales and Marketing Goals:This very important for management to set marketing goals and set sales of their organization. The management can measure their success level inorganization. Enterprise Car need to set sales of organization so that they know what to achieve and prepare strategy accordingly. Management of Enterprise Car applied SMART goals in organization for measuring the success level.
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ď‚·DevelopmarketingBudget:Thebudgetisalsoveryimportantfactorwhich management need properly analysed and set budget of each activity of their organization accordingly. This improve performance level of their organization and they try to reduce over budget problem in organization. Enterprise Car need to set budget for their marketing activity. This able to know management about their budget of everything, So that they try to avoid over budget in organization and they work effectively in market. Brief explanation on Marketing Mix The marketing mix is the frame work which is used by the marketing management in organization. In marketing mix the 4Ps is include which help organization when they developed their new products and services. The 4Ps includes the Price, Place, Product and Promotion. This all will required in the firm for manufacturing the product and run their business operation smoothly in the market(KANAGARAJU and BALAMURUGAN, 2021). The Enterprise Car need to apply the marketing mix in their business process so that they able to make effective strategy for developing their new products in the market. Enterprise Car marketing team make effective decision making for their enterprise. Marketing Goal: The management need to set the goals when they are establishing their business in market. Then management will know what to achieve and how they are going to achieved. The management need to prepare effective strategy for organization for accomplishing objectives. The marketing team of company need to perform their duties with more responsibility then only business can accomplished their objectives. The Enterprise car need to set objectives of an enterprise then only marketing team prepare strategy that how they are going to achieved the firm goals(KovalÄŤĂk, 2021). Enterprise car can also measure success level of organization by comparing with objectives of business in marketplace and they also find out the problems which is raised in business so that they unable to accomplished goals. The marketing goals of Enterprise Car is grab customer and sustain their customer for long term in market. Applying 4Ps of Marketing Mix The 4Ps of marketing mix are briefly explained below: ď‚·Product:The product is a thing which is offered in market by organization for sale in market for customer and product help customer to satisfy needs and want of customer. If product will not satisfy customer needs and wants in market then product need to be
changed by enterprise and developed accordingly to customer in market. In Enterprise car, management need to choose product according to the marketing needs and wants of customer in market of UK. This help management to fulfil needs and wants of customer in market(Kumar, 2022). If product is not according to market needs and demands. Then the will not able to run their business operation smoothly in market. ď‚·Price:In market, price which customer is willing to pay for products to satisfies their needs and wants of customer. The price is very important thing in organization which management need to set according to the competition level in market. In Enterprise Car, marketing team need to set effective price for their products which help enterprise to capture customer and able to beat their competitors in marketplace. ď‚·Promotion:The marketing management need to prepare strategy for doing promotion of their organization products. The organization of product sales is based on the promotion, if promotion is done on large scale then it become easy for customer to know about the brand and product(Lien. and Hong, 2020). If promotion is not done properly, then in market customer will not able to recognize brand product easily and customer don't trust on the product. Enterprise Car need to do effective promotion for their organization which will help hem to generate revenue and grab customer attention towards the brand of the products in the market. The company of Enterprise Car use social media platform, Print advertisement, etc. for doing promotion for their organization. ď‚·Place:In market, organization need to choose and select premium location for their organization,sothatitbecomeeasyforcustomertoreachthestoreeasily.In organization, marketing team need to check that the location which is select must have public convenience which help customer to reach their outlet in market. Enterprise Car need to proper examine the place which is easy to find for customer and reach. The location must be premium which they select so there customer is easily reached and if customer don't have personal vehicle then they have public convenience facility to reach the outlet. Introducing Product/Service Enterprise Car, developing the new product in marketplace which satisfy the needs and wants of the customer in market. This is very important for Enterprise Car organization that they need to make changes in their business operation which will make their customer more feel good
and comfortable when they used their services. The service which they provide to their customer while they are using their services in market that management provide Wi-Fi in car because when people travelling they face network issues so they don't used any online services properly and refreshment meal like water bottle, candies, etc. which will help customer to make journey more simple(Liu, and Dong, 2021). This both will easily grab the customer attention in the market and they will able to gain competitive advantage in market. Applying 4Ps of Marketing Mix to their selected products/services: The Enterprise car need to apply the marketing mix for their product or service which they are going to developed in their enterprise. This marketing mix help management to established their new product/ service successfully in marketplace. Explain all 4Ps of marketing in brief in below: ď‚·Price:The price which is followed by Enterprise Car enterprise isthe customer's perception of its value and type of product which will retain their customer for long term (Thanh, and Huong, 2020). The management of Enterprise Car don't charge extra price for their new product/service which they provide to customer in market. ď‚·Place:This new service is available everywhere of the organization of market so that customer will also take the advantage of this new services. This will able to capture more customer in market(Van Esch, Black, and Ferolie, 2019). The customer of different place easily use only Enterprise Car services in market and this will directly impact on the enterprise revenue. ď‚·Promotion:The Enterprise car need to do promotion of their new product/ service so that customer will also aware about their new product/ service which is offered by company in market. Enterprise Car used social media platform and email advertisement for promotion of new product and services in marketing. ď‚·Product:The product which is offered to customer by Enterprise Car must be fulfilled their needs and wants of their customer when they are suing the services(Villi, 2021). Enterprise car provide new services like Wi-Fi and refreshment service to their customers whentheydotravellingbecausewhenpeopletravellingtheyfacedproblemof networking so this will now resolve and customer can easily use online services.
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Conclusion From this above report it has been state that the marketing is very important for organization for gaining competitive advantages in the market. This report concludes the marketing importance that how it will affect business process and it also consist of marketing mix that that how organization is going to apply marketing mix so that they developed new product effectively in market and this will help to gain competitive advantage in market.
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