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Assignment on Physical Evidence
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Added on 2021-07-09
Assignment on Physical Evidence
Added on 2021-07-09
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Table of ContentsIntroduction.......................................................................................................................................2PART A............................................................................................................................................3I. What is 7Ps?..................................................................................................................................31. Product......................................................................................................................................32. Price...........................................................................................................................................33. Place..........................................................................................................................................34. Promotion..................................................................................................................................35. People........................................................................................................................................46. Process......................................................................................................................................47. Physical Evidence.....................................................................................................................4II. Apply 7Ps in Burger King............................................................................................................4III. Apply 7Ps in DANANGO..........................................................................................................6IV. The difference tactics between 2 organizations..........................................................................6PART B.............................................................................................................................................81. Introduction...............................................................................................................................92. Marketing Plan Theory..............................................................................................................93. Overview of Danang Go...........................................................................................................9a. Establishment and Development...........................................................................................9b. Mission Statement:................................................................................................................9c. SWOT:...................................................................................................................................9d. Marketing Objectives..........................................................................................................104. Target Market:.....................................................................................................................105. Initiative and strategy..........................................................................................................106. Plan Omission’s...................................................................................................................117. Budget..................................................................................................................................118. Evaluation............................................................................................................................11Conclusion......................................................................................................................................13References.......................................................................................................................................14
IntroductionMarketing is the activity, collection of institutions, and procedures for developing, conveying,delivering, and exchanging value-added solutions for consumers, clients, partners, and society asa whole. [ CITATION Ama17 \l 1033 ]Marketing is an effective method of engaging customers.Marketing Aids in the Development and Maintenance of the Company's Reputation. MarketingAids in the Development of Relationships Between a Company and Its Customers. Marketing is achannel of communication used to inform customers. Marketing Aids in Sales Growth. MarketingAids in Providing Information About Your Company. Marketing Aids in the Retention of YourCompany's Relevance. Marketing generates revenue opportunities. Marketing Aids Managementin Making Informed Decisions. [ CITATION Has19 \l 1033 ] The marketing mix is the set of actions,or techniques, that a firm does to sell its brand or product. A basic marketing mix consists of thefour Ps: price, product, promotion, and place. However, in today's marketing mix, other Ps suchas Packaging, Positioning, People, and even Politics are becoming increasingly important.[ CITATION Eco21 \l 1033 ]The author has been appointed as Da Nang's new marketing executive in Da Nang Go. The goalhas been set for the author to conduct research on other organizations and create a marketing planbased on his findings to help the organization's marketing objectives. This task is divided into two sections. Part A begins with a comparison of how two differentorganizations utilize the various parts of the 7Ps marketing mix. This will be submitted to themarketing team as a briefing document. The briefing paper will assess how the marketing mix isused to achieve business objectives in the two selected organizations. Part B entails creating amarketing plan to fulfill marketing goals and objectives. A tactical action plan and metrics formonitoring and assessing progress and fulfilling goals and objectives should be included in themarketing plan.
PART AI. What is 7Ps? Marketing is a constantly dynamic field, and as such, organizations might find themselves fallingwell behind the competition if they remain stagnant for too long. The fundamental modificationsto the core Marketing mix are one illustration of this progression. Whereas there were formerly4Ps to describe the Marketing Mix, it is now widely agreed that a more developed 7Ps gives amuch needed extra layer of depth to the Marketing Mix, with some theorists going even farther. Simply said, the Marketing Mix is a technique used by businesses and marketers to assist identifythe offering of a product or brand. Since its inception by E. Jerome McCarthy in 1960, the four Pshave been connected with the Marketing Mix. 7Ps is a mix marketing model with 7 elements: Product, Price, Place, Promotion, People, Process,Physical Evidence. [CITATION Ngu19 \l 1033 ]1. ProductA product is an item that is built or manufactured to satisfy the needs of a certain group of people.The product in 7P marketing can be intangible or tangible as it can be in the form of a service or agood. The product you design and manufacture must meet the needs and trends of the market youare targeting. It's important that you find ways to improve your product to stimulate more demandwhen it reaches a period of decline. Besides, you also have to create products with combinations.You can expand your existing products by diversifying & or increasing the depth of your productline. [CITATION Ngu19 \l 1033 ]2. Price The price of the product is basically the amount the customer has to pay to use it. Product price isan extremely important factor that defines the Marketing Mix. Pricing in the 7p marketing modelis also an important component of your marketing strategy as it determines the profitability andsurvival of your company. Adjusting product selling prices will have a great impact on the entiremarketing strategy. At the same time, it also greatly affects the sales and demand of the product.[CITATION Ngu19 \l 1033 ]3. PlaceThe place or Channel of Distribution – an important part of the Marketing Mix definition.Position and distribute the product in a place that is easily accessible to the potential target. Thisoften requires a deep understanding of the market. [CITATION Ngu19 \l 1033 ]
4. PromotionPromotion is a very important component of marketing as it can increase brand awareness andsales. Promotion in 7P includes various elements such as:-Sales organization-Public Relations-Advertisement, promotion-Sales promotion-..... [CITATION Ngu19 \l 1033 ]5. PeoplePeople include both the target market and the people directly related to the business. It isimportant and you must recruit and train the right people whether it is someone in the supportdepartment, customer care, copywriter, programmer, etc. Well recruited and trained employeeswill contribute to the growth of the company. business development for enterprises. [CITATIONNgu19 \l 1033 ]6. ProcessProcess in marketing 7P is one of the important elements of marketing. Organizational systemsand processes that affect service implementation. Process refinements and improvements cancome later to help businesses minimize costs and maximize profits. [CITATION Ngu19 \l 1033 ]7. Physical EvidenceBecause the specificity of the service industry group is an abstraction, the business needs"tangible" evidences so that customers can easily imagine the service provided. In addition, thephysical evidence in 7p marketing is also related to the branding of businesses and their productsperceived in the market. It is physical proof of the presence and establishment of a business. Oneconcept of this is branding. [CITATION Ngu19 \l 1033 ]II. Apply 7Ps in Burger King Burger King is one of the most well-known fast food corporations in the world, with 40,000employees and a revenue of 190 million USD in 2008, accounting for 28.4 percent of the fastfood industry. all throughout the globe To achieve the present level of success, it is vital to notethe rigorous 7P marketing mix approach, as well as the efforts of the leader.[CITATION nha15 \l1033 ]1. Product: Personalize the product
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