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Marketing Process of British SME - Report

   

Added on  2020-01-07

22 Pages5364 Words180 Views
MARKETING PRINCIPLES

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................................4....................................................................................................................................................................4TASK 1..........................................................................................................................................................51. Various elements of marketing process for British SME – please follow the handouts......................52. Marketing orientation and cost benefits............................................................................................63. Macro and Micro environmental factors have influence on marketing decision................................74. Difference in international marketing and domestic marketing.........................................................85. Development of products to sustain competitive advantage ............................................................86. Distribution of products to provide customer conveniences..............................................................97. How prices reflects the objectives and market condition of organization........................................108. Promotional activities to achieve the objectives..............................................................................119. Additional elements of marketing mix..............................................................................................12TASK 2........................................................................................................................................................131. Segmentation criteria that can be used by Tesco for products in different markets........................132. Main targeting strategies organizations use and suitable targeting strategy Tesco can adopt for a selected product...................................................................................................................................143 Behaviour of buyers that affects marketing activities of Tesco in different buying situations...........154. New positioning for a selected product by Tesco.............................................................................155. Planning marketing mixes for two different segments Tesco caters................................................16For this question I attached an example. You have to delete the bellow text in red and use the table instead. ................................................................................................................................................166. Differences in marketing products and services to businesses in contrast to consumers................17CONCLUSION.............................................................................................................................................18References.................................................................................................................................................19

LIST OF TABLES

LIST OF FIGURES INTRODUCTIONMarketing principles refers to different activities involve in transfer of goods and servicesfrom seller to customer. The activities like pricing, promotion, distribution etc. This term is alsointerlinked for achieving the objectives and competitive advantage to survive in dynamicenvironment. The report will provide the explanation about marketing process that is adopted byBritish SME for marketing and the factors influencing the marketing decision. Further it showshow distribution and pricing strategy helps in gaining the competitive advantage in market alongwith giving clear distinction about domestic and international market. In the other part, the reportwill provide explanation on segmentation, targeting and positioning criteria for Tesco and plan4

the marketing mix of two different segments in the current case. Tesco profits have grown in just13 years by more than four and a half time and it is the largest retail supermarket stores andgrocery department itself have 30.5 percent share that is incredible for the success of the Tesco. TASK 11.1 Various elements of marketing process for British SMEMarketing is the wide platform to interact with consumer and to offer variety of theirproducts and services. It is the process to achieve the desired goals and objectives with assigningright work to right employee at the right time and to provide the product at reasonable price toachieve the competitive advantages. The following are the key elements of marketing processwhich can be used by British SME:Illustration 1: Marketing processSituational analysis- This is important element of marketing process that helps to gain theknowledge about the market conditions and organizational capabilities. By conducting thesituational analysis, organization will able to develop the marketing plan more professionalmanners and achieve their objectives by working on the issues. 5

Marketing strategy- In this, the marketing department has to decide which strategy they have toadapt for their business which is effective in terms of cost and time and provide advantages fromthe competitors. It consists of segmentation, targeting and positioning strategy. British SME hasto select the best of the strategy.Designing marketing tactics- Here, British SME management is required to undertake detailedtactical decisions so that controllable parameters of the marketing mix could be attained. Itinvolves product development, pricing decisions, distribution channels and promotionalcampaigns etc (Alam, 2016). Implementation and control- For achieving the British SME goals, the organisation has tomake such marketing strategy that focus on consumer needs, their taste and preference andaccordingly analysing and designing the products and services. Marketing is important formanaging the resources and utilization of them according to objectives that have significantimpact on the business planning of organization. By using this, element of marketing,organization will able to maintain the effectiveness in the business functions.1.2 Marketing orientation and cost benefitsMarketing orientation is the process of providing product function and product efficiencyalong with customer needs and desires for delivering the product. If British SME will follow themarketing orientation they will get the benefits:Customer satisfaction- Through orientation, organisation will achieve the customersatisfaction that will maintain the efficiency of the business (Albuquerque.et.al. 2012).For achieving the benefits organisation needs to focus on quality and requirement of thecustomer. For example, by providing the support to the customer for their complaint anddoubt about the products and services of British SME organization will able to meet thesatisfaction level of customers. Long term profitability- With marketing orientation organisation like British SME gainthe long term profits by providing quality products and services with the policy ofretaining the customer for the longer time. The use of online services helps to establishthe profits through adequately resolving the customer’s issues to retain them for longerperiod. For example, by having the trust and loyalty in the products and services theorganization will able to retain the customers for longer period of time which will supportto maintain the long term profitability in business. 6

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