The Marketing Concept - Costa Coffee
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Added on 2020-10-22
The Marketing Concept - Costa Coffee
Added on 2020-10-22
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Taking The Costa CoffeeExperience Digital to the nextlevel to achieve a competitiveadvantage
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31 Define the marketing concept..............................................................................................32 Stages of marketing planning process.................................................................................33 Difference between transactional and relationship marketing............................................44 Difference between marketing mix planning for product based and service basedorganization............................................................................................................................55 The role of internet in modern marketing ...........................................................................6TASK 2............................................................................................................................................61 Outline market research system used in gathering and managing market research............62 Define stage of marketing research process........................................................................73 Collect market information to identify new products opportunities...................................74 Identify new market opportunities.......................................................................................8TASK 3............................................................................................................................................81 Define strategic planning process........................................................................................82 Outline segmentation, targeting and position process.........................................................93 Define decision making unit and its advantage and disadvantage......................................94 Describe concept of decision making process for consumers and organization ..............10TASK 4..........................................................................................................................................101 Develop business plan that support achievement of business objectives .........................102 Identify most appropriate marketing tools that meet business and customers needs. ......11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONMarketing management is a process which is used to identify what products and servicesin which customers are interested and what strategies to be used for sale and communicate todevelop business among the costumers and target audience (Akter and et.al., 2016). This report isbased on “Coffee House” company which is planning to be established in United Kingdom andthat offer bakery products and different variety of coffee. The topics covered in this report areConcept of marketing, marketing planning process, role of internet in modern marketing, how anorganisation identify new market opportunities, benefits of marketing management to customersand how marketing management can improve their business performance.TASK 11 Define the marketing conceptMarketing concept refers to the process through which it is describe that success of a firmis depend upon efforts of marketing done by a company and value proposition which they aredelivering as compare to its competitors in the same target market (Doyle, 2013). In other aspect,marketing concept is philosophy through which a firm analyse and evaluate their customers andthen make decision according to it, so they can satisfy their customers needs and wants ofcustomers in better way as compare to their competitors. In current time most of the firms adoptmarketing concept to understand their customers' needs, satisfy them, increase profit, maximisesales and make decision accordingly to beat their rivals. Their are five type of marketing conceptwhich an organization can adopt and execute in their firm, they are - production concept, productconcept, selling concept, marketing concept and societal marketing concept. 2 Stages of marketing planning processMarketing planning process refers to the steps that provide guidelines how to sell andmarket products in the target market within a particular period of time by involving promotionalstrategies. Coffee House adopt marketing planning process to make their business successful andsustain it in future market, which is describe below:-
Illustration 1: Marketing Planning Process , 2018(Source: Marketing Planning Process, 2018)Mission:- In this, Coffee House first develop their action plan, mission and company'sobjective to make their products successful in the market of United Kingdom.Situational Analysis:- In this stage Coffee House will examine their current condition inmarket by analysing and audit target market and doing SWOT analysis. Marketing Strategy:- In this, respective firm will evaluate and develop marketingobjective and marketing strategies which can help them achieve overall company's objective inan effective way. Marketing Mix:- In this step, Coffee House will make plans and strategies on focussingthe marketing mix so that they target right audience and market and develop plan accordingly. Implementation and Control:-In this step Coffee House implement their plan andstrategies and evaluate it as it is correct for the current market trend or not (Garcés, Rivera andMurillo, 2012). 3 Difference between transactional and relationship marketingTheir are several difference in between relationship marketing and transactionalmarketing which are describe below in context of Coffee House analysis:- Basis Transactional marketingRelationship marketingFocusIn this organization's main focus ison making new customers (Grant,According to this, their majorfocus is on customer retention.
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