Fundamentals of Marketing for Starting a Business

This document discusses the fundamentals of marketing and how it applies to starting a business. It covers topics such as company proposals, evaluating the external environment, competition, and target markets.

Starting a business and
fundamentals of
marketing

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Company proposal proposed ......................................................................................................3
Evaluate external environment....................................................................................................4
Illustrate the competition along with competitive advantage.....................................................6
Proposed target market................................................................................................................7
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

INTRODUCTION
The concept used to make financial profits that rely on a single service or good applies to
corporate ides. It is worded so that it answers, drives revenue, is special and should be
revolutionary, issues which dominate the market (Baines and et. al, 2017). The contractor tends
to launch a new company with goods developments, leading to better revenues for them. This
challenge is focused on the firm Penny drums which would be a greater provider in the industry,
but which creates a clear picture of creativity in its logistics. They may elect to use robots to
ensure consistency of certain services. This study covers the company model, external
conditions, competitiveness and its target audience.
MAIN BODY
Company proposal proposed
Penny drums Business is a UK company that offers electronic trading, wholesale, as well as
industrial supply chain transportation, logistics solutions. The company is a global company that
offers its services in different ways. They looking at before delivering a creative service to excite
large audiences and develop their good brand profile. The business is about to offer its products
in transportation, but because there are still solid players, it is critical that its services are so
special and creative (Belew and Elad, 2017). They have also preferred to make use of the new
developments as they grow fast and provide businesses with tremendous benefits. They are
looking very much forward to robotic technologies throughout their research with regard to
Penny drums Business. It should be the research and engineering division that requires the
planning, function, installation and use of robotics and computer networks to monitor apply
knowledge and gain sensory input. Robots would be responsible both for travelling and
responding depending on the feedback development of computer networks. Logistics virtual is
the machine with the new capacity and also the transport of goods to shape the distribution
network. The organisation prefers to have them in the factory to supply warehouses. This will
encourage Penny drums Company to do manual work that will increase efficiency and
profitability. They will use their store and return storage systems for transporting merchandise
AGVs (Automated Guided Vehicle) (Cadotte, 2016). These will work through predefined paths
and transfer all shipping and storage goods. This ensures that the costs involved with either the
simplification of the distribution chain would be minimised. In addition, robots are also used in

transportation for personality cars. By applying it diligently and accurately to improvements on
streets or challenges, Penny drums are able to increase safety and also to avoid errors made by
people drivers. This allows the business to improve safety. It will serve to minimise costs arising
from traffic collisions for the company. Higher performance is achieved as convoy contact
between vehicles is streamlined and also greater speeds are achieved, which reduce costs and
carbon impact. Furthermore the driver double role would be performed, so the machine is then
used to execute other similar tasks.
Evaluate external environment
External environments are known as the climate, which contains all external influences that
generate impacts and market practises. In order to do that, they must respond or behave in such a
way as not to restrict the flow of certain activities but they should provide their services in
compliance with strategic plans (Hong and Son, 2017). Companies have little influence over the
macro climate, but may take suitable steps to mitigate effects. Penny drums Company will use
PEST control to analyse these causes. It will help them better assess the potential effect on the
resources rendered by the company. The following is shown:
PEST analysis: The management approach used by businesses is called pest assessment in
order to gain success in the industry by providing access to the big external factors that influence
their activities. It includes political, technical, economic and cultural forces which have an effect
on organisational operations (Melovic and et. al, 2017). This is a strategy approach which Penny
drums Business will use to ensure that they can generate massive returns through the supply of
sufficient facilities on the United Kingdom. The below are the following factors:
Political factors: In defining the variables which influence Penny drums in areas such as
product methods and feasibility, they perform an important role (Melovic and et. al, 2017). When
they provide facilities in various countries, workers are subject to various political regimes. To
do this, you have to broaden the structural risks until enter the business and evaluate those
variables. Since the user is planning forward to use self-driving cars, it is obligatory to guarantee
that robots are driving or have sufficient authorisations. The study of the political stability needs
to be carried out along with threats due to military intervention, IP, trade partners, market
regulations, involvement of state and regulations on consumer safety. By maintaining that these
influences only enter the customers, else the State may interfere in the supply of equipment
products that can lead to losses (Mitchell, Madill and Chreim, 2016). It requires different things

such as rules, legislation and others. Political peace is often known as an important factor.
London is now a geographically prosperous city in the United Kingdom. Where national
relationships with countries remain successful, the establishment of Penny drums London will be
beneficial for advance machine. This will however have an experienced understanding of the
basic forms of tax rates, duties as well as other goods which would allow Brexit to function
properly.
Economic factors: These contain items such as inflation rate, investments, bank deposits,
inflation and also economic cycles to assess overall demand and also economic activity. In
addition, rivalry also has an effect on the strategic advantage of the use of robotics during its
work (Hong and Son, 2017). While this is the process, high efficiency is used. In order to predict
trajectory progress, Penny drums can evaluate the growth of variables such as manufacturing
products and service sectors, customers' expenditure, etc. The resilience of the UK and currency
markets, high prevalence, the level of educational manpower, and competitive advantage of host
countries in relation to the supply chain must be established (Nelson and Tyson, 2019). The UK
is advantageous in case of trade as well as higher GDP and a huge network, which says that
small companies will be more profitable. The order to enter the penny drums is also necessary,
since there are many openings mostly on U.K market. Economic conditions will therefore
promote the development of the selected organizations on the marketplace.
Social factors: The society's atmosphere and how the activities take place has an influence
on the organisation's functioning. Both conduct and collective belief have a significant role to
play in Penny drums view of consumers. This helps you to decorate your items as appropriate.
To that end, an overview of the skills, the structure, class through power system of societal,
society nature, the desires and the culture prevailing within is essential. It will help you gain
knowledge into how you deliver your services.
Technological factors: automation is really the world's most increasingly disruptive sector
and logistics are the right example. As the company Penny drums uses robots, it will have a clear
market advantage (Rowles, 2017). But to do this they needed to consider the effect of financial
services in the United States. Business must take into account, cost base, supply chain effect,
technical propagation pace and the effect on existing goods' offerings.
By examining these factors, it is obvious to Penny drums that they are highly productive and
player throughout the logistic market by providing products in which region.

Illustrate the competition along with competitive advantage
As the industry is rapidly changing with technical changes, the main players on the market
must be established. This will allow them to consider and sell their offerings in comparison to
what they provide on the market (Skripak, 2016). If the Penny drums business aims to offer its
services in transportation by means of robotics, it needs to recognise its rivals and put them on
the market. This means that they devise their properties related and excel with defeating the
dominant actors, but their facilities get a high degree of precision, pace and accuracy. The
following table shows the business peny drums and their key industry rivals.
Feature/ Company Penny drums
Company
YODEL TRANSCOR
Strengths Robotics will be used
for the distribution and
operation of their
storage facilities (Baines
and et. al, 2017). This
encourages their
workers to spend some
time in many other tasks
to have a beneficial
result. This would
remove the mismatches
that arise during human
workers, such as
injuries.
They offer every
company and client
using internet
platforms through
your international
distribution solution.
In about 200 countries
all over the world,
they advertise their
services. Using social
networks to make a
difference.
It's indeed local 3PL,
which offers
transportation,
storage, cargo
brokerage and storage
throughout the world
by supplying
consumers with
solutions to the
essential problems of
the production
process. Special focus
is placed on safety
and accurate
operational efficiency.
Weaknesses There is little use of
social networks.
It deals rarely with
clients and only picks
up and delivers the
package again from
store.
Word is structured,
and not easy to use.
Social Media They use Twitter and As they use blog Each portal is active

Instagram also blog the
updates.
entries. to educate its
consumers of the
services they offer.
Proposed target market
Penny drums model STP could be used to outline and simplify correlated through product
differentiation, which really is a wide-ranging system (Belew and Elad, 2017). Segmentation
means consumer recognition focused on a number of segments, including demographics,
psychograph and globalization. Targeting refers to the selection of more desirable segments.
Process is the final stage wherein the businesses like Penny drums can reach and place a strategic
advantage mostly on market.
Penny drums have selected trends to factor in the fact millennial investors. The explanation
for is that they're more optimistic but look at before community development. The goal is to
offer services efficiently and reliably to new businesses as Penny drums hires robotics. Young
businesses also pursue such distribution solutions from which their profits can be improved and
minimum profits can be obtained. In comparison, the chances of mis-appearances are therefore
equal to marginal self-driven cars (Cadotte, 2016). The respective company would thus place
them firmly mostly on marketplace.
Conclusion
It can be inferred from beyond that creativity is an essential aspect that allows companies to
incorporate something new into the industry and differentiate themselves from established
competition. However in order to do that, it is important to make sure that perhaps the
philosophy behind corporations is original and offers organisations and individuals different
benefits. This would boost the client base. The consumers can be provided through the use of
accurate robotics and timely facilities. In addition, an analysis of the world wherein they perform
their products is needed in order to evaluate the variables alongside their effect on the fulfilment
of orders. In order to be transparent on whom products are suggested, the targeted audience must
be taken into consideration.

References
Books & Journals
Baines, P. and et. al, 2017. Fundamentals of marketing. Oxford University Press.
Belew, S. and Elad, J., 2017. Starting an online business all-in-one for dummies. John Wiley &
Sons.
Cadotte, E. R., 2016. Creating value in marketing and business simulations: An author’s
viewpoint. Journal of Marketing Education, 38(2), pp.119-129.
Hong, D.U. and Son, J.S., 2017. A Study on the Effects of Support Service of Gyeonggi-do
Cultural Contents Area Business Incubating Center on Corporate Performance: Focusing
on the Business Validity of Business Start-Up Items. Asia-Pacific Journal of Business
Venturing and Entrepreneurship, 12(4), pp.47-60.
Melovic, B. and et. al, 2017, April. Green (ecological) marketing in terms of sustainable
development and building a healthy environment. In Energy Management of Municipal
Transportation Facilities and Transport (pp. 1265-1281). Springer, Cham.
Mitchell, A., Madill, J. and Chreim, S., 2016. Social enterprise dualities: implications for social
marketing. Journal of Social Marketing, 6(2), pp.169-192.
Nelson, B. and Tyson, E., 2019. Starting a Business All-in-one for Dummies. For Dummies.
Rowles, D., 2017. Mobile marketing: how mobile technology is revolutionizing marketing,
communications and advertising. Kogan Page Publishers.
Skripak, S. J., 2016. Fundamentals of business. Virginia Tech.