Introduction to PEST analysis
Added on 2019-12-28
10 Pages3620 Words167 Views
INTRODUCTION TOMARKETING
Table of ContentsIntroduction......................................................................................................................................3P1. )Describe how marketing techniques are used to market products in two organisations .....3P2 Describe the limitations and constraints of marketing...........................................................4P3 Describe how a selected organisation uses marketing research to contribute to thedevelopment of its marketing.......................................................................................................5P5- Explain how and why groups of customers are targeted for selected products....................5P6 Develop a coherent marketing mix for a new product or service...........................................6References........................................................................................................................................9
IntroductionMarketing is used to create the customer, to keep the customer and to satisfy thecustomer. With the customer as the focus of its activities, it can be concluded that Marketing isone of the premier components of Business Management - the other being Innovation. Nike is anAmerican multinational corporation that is involved in the design, development and worldwidemarketing and selling of sporting equipments such as running shoes, tracksuits etc. Nike alsosells accessories and unique footwear that attracts the eyes of so many people includingcelebritiesP1. )Describe how marketing techniques are used to market products in two organisationsDiesel And Kellogg's use various different marketing techniques to market their products.They use the same techniques but in different ways.Ansoffs MatrixThe Ansoff Matrix is a growth strategy used by businesses to decide on their product and howthey are going to expand. The Ansoff Growth Matrix is a diagram that helps businesses grow inthe right direction.Diversification Product diversification is a form of corporate strategy for a company. It seeks to increaseits profits through greater sale volume obtained from new products and new markets.Diversification can occur either at business unit level, or cooperate level (Schröder andMcEachern, 2005). At Business level, it is most likely to expand into a new segment of anindustry that business is already in. At cooperate level, it looks at the overall scope of theenterprise, while taking stakeholders expectations into the businessMarket DevelopmentMarket development is when a business sells its existing products into new markets, thiscan be done geographically, which means exporting existing products to other countries, theycould also create newpackaging and different pricing policies. Kelloggs use this strategy withtheir products, theyenter into new markets by having products for kids (Coco Pops, Moons andstars), cereals and cereal bars for the health conscious ( Special K, Bran Flakes), and sweetssuch as fruit winders. They also have family size packs, and mini cereals for travel. By doing thisthey are increasing their customers as they are exploring new markets. Diesel enter newsegments of the market, by selling products other than clothing. They have bough our several
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