LO1 โ Know the role of marketing organisations P1/M1/D1 You need to research two businesses of your choice and work through the questions below. Organisation 1 Organisation NameCoca-Cola Describe how marketing techniques are used in the marketing of products in this organisation Give real examples of how they have used these techniques {P1} Coca-Cola is the worldโs leading soft drink maker and operates in more than 200 countries around the world. It sells a variety of sparkling and still beverages. It generates 60% of its revenue and about 80% of its operating profit from outside the United States. It has strong brand recognition across the globe. According to business insider, approximately 94% of the world population is aware of the red & white logo of Coca-Cola. The marketing plan is part of the business plan, it is a detailed and complete document covering the companyโs marketing activities. Marketing technique are often used by business organisations for promoting their products and services at marketplace. There ae numerousofpromotionalmethodsusedbyenterprisesthat provides them huge benefits as well in terms of increase in sales performance. Some of the core techniques used by Coca Cola for marketing its products at marketplace are Television, Internet, Billboards and packaging. Usage of these methods helps them in meeting up their sales targets which are described as below: Television Ads:Marketing manager of Coca Cola emphasizes on telecasting their advertisement through the medium of Television for attracting customers in effective manner. Advantages: ๏ทGrab attention of wide targeted audience ๏ทFosters empathy and emotions Disadvantages: ๏ทChangesarehardtoimplementandexpensivefor
company ๏ทCustomer's might misinterpret provided message. Billboards Advertisement Billboardsareoftentermedashoardingwhichdisplayed alongside roads in traffic sensitive areas.For instance:Billboards are often used by marketing manager of Coca Cola in UK as it is helpful medium of advertising product with outdoor advertising structure that covers large group of customers Advantages: ๏ทEffective visibility ๏ทBetter access to large number of Audience Disadvantages: ๏ทCostly method ๏ทNo Feedback Pricing technique refers to the method that is used by business associations to calculate their products and services by providing consideration to several factors like targeted audience, products, PLC, company's further expansion, competition etc. In context to CocaCola,thecompanyuseseconomicpricingstrategyby maintaining very thin margin of profit. The main motive of the company is to raise their market share effectively with low cost products without compromising with quality. CocaColausesdifferentproducttechniquenewproduct, development, product extension etc. at the time of marketing its products at marketplace. Main distribution system of Coca Cola includes bottling partners, distribution operators, wholesalers and retailers.Thecompanymainlytransfersitsproductsto distributors at initiallevel, later these distributors transports it to small level distributors and retailers. Production concept This is the production concept in which a business focuses on
achieving high efficiency at a low cost and mass distribution. The reason for this is because when the business produces a high amount of products then this will mean that customers will want to buy more products. Businesses assume that customers are interested in prices that are low and the availability of the price which attracts customers. Selling concept This is the selling concept in which says if customers and businesses are left along then the business not buy enough of the products which means the business will have to accept a severe selling and promotion effort. It also suggests that the business has a set of effective selling and promotional tools to inspire more buying. Marketing concept This is the marketing concept which is the key to achieving the business's goals, this consist of being more effective than competitors when creating, delivering and communicating with the customers to meet customerโs value. The marketing concepts consist of 7 pillars: place, promotion, price, product, people, process and presentation. The marketing concept focuses on the needs and wants of target markets and tries to deliver value better than their competitors. The marketing concept believes in the pull strategy in which says you need to make your brand strong so customers prefer to use your brand over the other competitors. Product concept This is where the business focuses on creating economies of scale in the production and distribution of a product or service. This is the product concept in which says that customers will favor those
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
products who offer the best quality and performance. The manager focuses on this concept as they focus on making bigger products by improving them over time. Functions of marketing The function of marketing is the role in which helps the company identify and find the potential successful products for the market. The marketing functions that are within a large organisation can include performing market research, producing a marketing plan, product development, strategically managing advertisement, promotion, distribution for sale etc. when it comes to market research itโs very important as you find out which customers make up particular market and how they can use to find out what customers want, where they want it, how they like it and what price. Marketing works closely with production as it helps them meet the wishes of customers so it can help with the new development. Existing market- Market penetration Market penetration is the increasing amount of existing products or tries to promote a new product through strategies such as advertising, lower price, discount. Market penetration is when the company raises awareness for the same products for the existing market. For example, Coca-Cola selling more of Diet coke to the same UK market by selling their products to retailers who are huge multinational businesses such as Tesco, Asda, and McDonald's. Another example would be advertising Coca-Cola in the Christmas season in order to boost its sales in the Christmas season. To advertise its product, the company uses Omni-channels as television, press, radio, internet to promote their products, to
increase the sells and to benefit from more profit. Product development Product development is when they introduce a variety of products within the same market. For example, the Coca-Cola company can introduce new flavors in the UK which aren't sold anywhere else in the World. This will strengthen the relationship between existing customers and the company by satisfying the customerโs needs and wants. New market - Market development Market development is when they target a new audience but with the existing product. Businesses can do this in two ways moving to another country or introducing a new product. For example, it would be Coca-Cola as they expanded their product Coca-Cola vanilla into the UK market from the US market. Another example would be Coca-Cola as not all their flavors are being sold in every shop or retailers which means Coca-Cola can introduce a new market when they introduce these flavors in their market. Diversification Diversification is when the business opens an opportunity across different products and the new market sector. For example, Coca- Cola has decided to go into a new industry which has brought a new sport to drink out which they introduced PowerAde. This helped Coca-Cola as the new product created anew audience which meant more customers meant that Coca-Cola could build on that relationship between the customers. Branding The word brand is associated with the product which is associated
with the business itโs also the identity that can separate yourself from other competitors. An example of this would be Coca-Cola. The reason I say this is because Coca-Cola uses its front and color red to create a warm happy feeling. Coca-Cola has even changed the way, Santa Claus is perceived which is now a happy, warm and jolly man who wears a red suit. Coca-Cola has done this to make people automatically think of their products when they see Santa Claus. Analyse the marketing techniques used in the marketing of products in this organisation {M1} Organisation 2 Organisation NameApple Describe how marketing techniques are used in the marketing of products in this organisation Give real examples of how they have used these techniques From their beginnings in Steve Jobโs garage, Apple today is worth over ยฃ100 billion. This is because they use marketing to their advantage when designing a product. Apple products are made to high quality, build well from robust materials, designing with a clear house style, they are identifiable because of the logo on the back of all products. They are simple in their design to appeal to a mass market, and practical as Apple products are easy to use and very good for working on. With reference to marketing manager of apple, uses various
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
{P1}marketing activity such as Internet and packaging. Both of them are described as below along with their advantages and disadvantages: Internet: Apple uses Internet as its main marketing technique for promoting its range products among customers. Advantage: ๏ทMaximum number of customers are on this mode. ๏ทPerformance of advertisement can also be monitored on Internet Disadvantage: ๏ทHigher competition ๏ทMight become complicated Billboards: Advantage: Grabs attention of maximum people Ease to use this method Disadvantage: Main cause of distraction Costly method Apple uses price skimming pricing strategy for gaining competitive advantage. In this, Apple is providing higher quality feedback with latest features that provides better experience to its every user. Apple uses both the direct and indirect channels for distributing. In this, they initially provides product to customers their iPhone among customers through various mediums like online store, Retail store, Direct sales force and third party wholesalers. The 4Pโs of marketing is a general phrase used to describe a different kind of choices organisations have to make in the whole process of bringing a product or a service to the market.
Basically, the 4P.s are about putting the right product in thr right place, at the right price, at the right time. The term โroutes to marketโ is used to describe how a company distributes their product to consumers. Apple use four main routes to market. This are online through Apple.com, in Apple stores, there are over 175 apple stores all over UK, through intermeditaries such as โStormfrontโ in Bury St Edmunds and direct to customers at technological seminars/trade fairs. Promotion refers to the methods used by a business to make customers aware of a specific product or product range. Advertising is just one of the means a business can use to create publicity. Businesses create an overall promotional mix by putting together a combination of the following strategies advertising, sales promotions, personal selling, direct marketing. When a new product is released, Apple initially launch it a bit at a high price. Apple price their products very well. They set a high price but instead of this initial high price putting customers off it attracts them as they see it as a luxury to be bought. The depth of a product line is basically the amount of products in a product line so the more extensions made to the product line will result in a larger depth of the product line. The width of a company is the amount of product lines the company has so if Apple only had one range, for example the iPhone, they could set up an accessories range for the business and this could be on a different product line. Firms think very carefully about the price to charge for their products. There are a number of factors to take into the account
when reaching a pricing decision: Customer - competitors- costs There are times when businesses are willing to set the price of a product below unit cost. They use this loss leader strategy to gain sales and market share. Every year since 2007, in September, Apple have released a new version, either a new model or an โSโ model, of their most popular product the iPhone. They do this because over summer, iPhone sales begin to slightly decrease, so Apple quickly insert a new model into the market to gain an even larger market share and to boost revenue. This same technique is used for every Apple product range from the early Macintosh computers right through to the iPad. Apple Inc was established on April 1st, 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne to sell the Apple I personal computer kit in Cupertino California. In February 2014, Apple was named as the โmost important global companyโ by Forbes.com and in 2013 Apple Inc generated over ยฃ102 billion. A business can choose between two pricing tactics when launching a new product, penetration pricing that means setting a relatevely low price to boost sales. It is often used when a new product is launched, or if the firmโs main objective is growth. Price skimming means setting a relatively high price to boost profits. It is often used by well know businesses launching new, high quality, premium products. A product portofolio is the range of products sold by a company. Examples of this include Apples iPhone and iPod range of
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
products. Analyse the marketing techniques used in the marketing of products in this organisation {M1} Select one of the two organisations you have mentioned above and recommend improvements to the marketing techniques it currently uses Organisation Name Recommend improvements to the marketing techniques in this organisation {D1} P2 Describe the *legal *voluntary *organisational *ethical Limitations and Principles of marketing lectures for the limitations and contracts of a advertising These principles are quite simple and give realisation for the correct representation of required documents of the lecture and guidelines given through principles of agreement and contract advertisement. These are sort of guidelines for contract and create perfect contractual
constraints of marketing {P2} agreement which cannot be questioned later for infringement and performing wrong details. Legal: the legal provisions and acts have to be adapted by the individuals or any group of advertising so that no such legal issues can be created against them. Consumer Credit Act Sale of Goods Act: this act was created for giving correct guidelines for the company and perform major activities which have to be addressed in the name sake of providing correct and qualitative goods to consumers. This goods act ensures that one person shall perform and give correct products which have passed several tests and all have been through quality test. Sale and Supply of Goods Act this act was created for the security of goods and in case of any dispute or accident they shall be secured under this act. If an person has taken insurance under this act and under the circumstances of contract of anything happens to the goods one can claim the whole money from them in which they have to perform all activities due to which such incident has had happened. Consumer Protection from Unfair Trading Regulations Data Protection Act: under this act if any individual or organization is found performing any such wrong activities they have to be recorded i=under this act and have to give several requirements as per the guidelines given under it. Voluntary: in this one has to perform some tasks without the help of several instincts and give indication onto which one can give guidelines and render free services for organization. Advertising Standards Authority:this authority governs and administers that providing of good and correct quality content to public. Here one has to give several retaliation in the fact that they will be performer all such regularities and guide accordingly for producing
correct product or service. Advertising Codes of Practice:in every organization there are several code of conducts according to which one has to perform and create schemes to achieve the aim of the organization. Codes of conduct or practice of professional associations: in any professional business there are several acts which come under code of conduct while being an professional. Here one has to guide and accumulate the correct workings of such places. Pressure groups:these are made to create and think new schemes in which their shall be correct performance of workings in organization and the proper implementation of such rules & guidebooks. Organizational:in here basic necessities required for the company has to be fulfilled and they shall perform it as per the guidelines in the company. Conflict with other functional areas: in case of several disputes between all department or two specific departments causes several disputes among the work. The working coordination shall become loose and they will perform as per guideline from their leader. Organizational culture:any place has a different culture and according to it one shall create several guides and provisional factors shall be implemented. Ethical: ethically sometimes causes a huge loss in monetary terms which are sometime believed to be useless and worthless in the field of marketing. Children's intervention:in several campaigns where the product or service performed is in favor of children them they are made participants in such camp and advert.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
From special offers that don't exist to closing down sales that run for months and months, some companies use underhand tactics to get a sale. The Consumer Protection from Unfair Trading Regulations provide consumer protection from unfair or misleading trading practices, misleading omissions, and aggressive sales. Consumer protection from unfair trading ensures that the companies do not lie to customers and ensure that they act honestly towards all of there customers, for example, a company could lie to a customer about having a closing down sale which would then encourage the customer to shop with them quickly, however, if this is not true they are breaking the customer protection from unfair trading regulation 2008. Pressure group Pressure groups are organisations that are initially put together to attempt to influence what members of the public think about the business and its environment. Pressure groups are organisations which campaign for changes in the law, pressure groups are often known for having a strong influence on public opinion and who they choose to vote for. A pressure group is able to challenge and also change the behavior of a business by doing things such as writing letters to MPs, contacting the press, organizing marches, running campaigns. Consumerism Consumerism is a social movement that enables consumers to have
some degree of power over businesses. Consumerism leads many organisations taking action to improve the service they give to the customers, they have done this due to the growth of consumerism. Acceptable language The ASA is not a part of the legal framework, however, it is an industry body, and ASA promotes and maintains the code of advertising, sales of marketing, and also direct marketing. These rules that organisations must follow when marketing is to keep within the legal framework, to protect customers from misleading claims and, create an even footing for advertisers. It is important when advertising that all organisations ensure they are being legal, decent, honest, and also truthful, and all organisations should ensure they always keep the consumer and the societyโs best interests when they are advertising a product. Things such as withdrawing the advertisement from TV stations and radio stations can happen when the advert breaches any of the code of practise. For example, a Morrisons Tv advert showing a child removing all the salad items from the burger was banned as it was seen to condone unhealthy eating but the advert was axed. Acceptable language has an impact on many organisations, for example, if an organisation were to advertise a product they sell on TV, they would have to ensure they use acceptable language to make sure they donโt offend any potential customer. The advertising standards authority has previously identified members of the public main concerns in regards to unacceptable language, this includes referral to sex, use strong language and swear words, mocking
religions and people beliefs, offending people on the grounds of gender, race, religion, sexuality, age, or disability. Acceptable language is used to ensure that when adverting, nobody should be offended, for example, when an advert appears on TV, it cannot include references to religion or sexuality, as this may offend some people. Trade description act Consumer protection laws are a form of government regulation, which aims to protect the right of consumers. For example, a government may require businesses to disclose detailed information about products, particularly in areas where safety or public health is an issue, such as food. When a consumer purchases a product, they are entitled to receive goods that are as described, fit for purpose, of satisfactory quality. Consumer protection is to ensure all consumer are happy with what they have purchased, and they have the right to receive products that are as described, fit for purpose and also of satisfactory quality, for example, Tesco was fined ยฃ300,000 for advertising misleading half- price offers on the strawberries they were selling. Tesco was ordered to pay the fine after admitting to misleading customers in 2011 by advertising half-price British strawberries for a longer period than they were sold at a higher amount. Sales of goods The Trade Descriptions Act 1968is an Act of the Parliament of the United Kindom which prevents manufacturers, retailers or service industry providers from misleading consumers as to what they are spending their money on. This law empowers the judiciary to punish
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
companies or individuals who make false claims about the products or services that they sell. The trade description act means organisations selling products must ensure the definition of the goods they are selling are truthful and describe the product accurately, as any other information they give may be misleading. For example, Tesco was offering a discount on washing powder which was advertised on posters displayed in stores. Once they had run out of the lower-priced product the store began to replace it with the regularly priced stock. The manager failed to take the signs down and a customer was charged at the higher price, this is how Tesco breached the trade description act. The Consumer Credit Act regulates credit card purchases but also gives you the protection when you enter into a loan or hire agreement. The Consumer Credit Act 1974 is a legislation that regulates consumer credit and consumer hire agreements, these act ensures that these agreements made include personal loan, hire purchase agreement, store cards, and credit cards. Limitations and Constraints Limitations and constraints are factors that work as a resource that is currently working at its full capacity. Limitations and constraints restrict an organisation from achieving its potential. Examples of limitations and constraints are: Voluntary constraints The Date and Protection Act 2018 is the UKโs implementation of the
General Protection Regulation (GDPR). The Data and Protection Act 2018 controls how your personal information is used by organisations, businesses or the government. The Data and Protection Act is a law that was put into place to protect personal data stored on a computer, for example, if an organisation has information about a client or a customer, the data protection act ensures that the information isnโt given to those who werenโt consented to have the information by the customer. The sale of goods act 1979 is a law that protects consumers and ensures goods are as described, and also os satisfactory quality and fit for purpose. This law means any products sold must be fit for purpose, for example, Tesco breached the sales of goods act when they sold meat that was labeled as beef, however, it was horsemeat, this means that it was not as described, of satisfactory quality or fit for purpose. Distance selling regulation 2000 The Sales of Goods Act 1979 is an Act of the Parliament of the United Kindom which regulates English contract law and UK commercial law in respect of goods that are sold and bought. Consumer protection As of 13th June 2014, the distance selling regulation no longer applies within the UK, the Distance Selling Regulation was the rules put in place to protect the consumer when they purchasing goods from a distance, for example online or over the phone. Consumers have a number of legal rights. One of these is the right to cancel any order you have made over the internet and to receive a full
refund. These rights are known as the Distance Selling Regulations. LO2 โ Be able to use marketing research and marketing planning / LO4 โ Be able to develop a coherent marketing mix You need to research an organisation of your choice and work through the questions below. You will need to describe how this organisation uses primary and secondary research in its marketing plans P3 Name of Organisation Kelloggโs Using examples describe how this organisation uses marketing research to contribute to the development of its marketing plans (You need to describe how the organisation uses both primary and secondary marketing research in the development of its marketing plans. The description should cover the type of research undertaken (primary, Marketing research helps a business to make decisions by understanding the changing of the markets that it sells products in. For example, Kellogโs that wanted to promote their cereal would want to know their target audience, what people want to know about the cereal, and what makes their cereal stand out from others, they may also want to know the best way from them to distribute the product. Primary and secondary research There are two different ways that Kelloggโs can gather research, either primary or secondary. Primary research is carried out by the organisation that the research is being done about, secondary research is gained by collecting data that has been collected previously. There are two types of primary research (internal and external), internal primary research
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
secondary, quantitative and qualitative) as well as the methods used and how the information is used in the planning process.) {P3} refers to data collecting by looking at the businesses' internal database, external primary research refers to data that is collected by finding out opinions that have an outside view on the business. There are also two types of secondary research (internal and external) which are almost the same as primary research except the research has been collected before. Both primary and secondary research have their uses and limitations. The research can be used to make sure that Kelloggโs make the right decisions and to see how they are doing over a certain amount of time. The limitations are a bit more complicated, cost-effectiveness might be a big one for a smaller company this is because the research may not tell them any more than they already know. The data that is collected may not be reliable, also the more reliable the research collected usually means the more expensive it is because to make sure that data is reliable you have to repeat it numerous times. The research needs to be valid also, it is more important for it to be valid because if itโs not valid then reliability doesnโt matter, valid data is data that can be used for its intended purpose. Qualitative and quantitative research Research can be qualitative, quantitative or both. Qualitative research involves an opinion being expressed in a non- numerical method, the research is subjective and allows companies to delve deeper into these opinions to understand them better. Quantitative research is usually objective and is involves numbers and can establish relationship and causation, quantitative research is a lot quicker to understand because all the research is measurable and sticks to the
intended purpose of the research. Kelloggโs are market-orientated meaning that they develop products based on the needs and wants of the market. Kelloggโs carry out market research so they can plan ahead, meaning they can look into what products they should be developing to fill future needs. Carry out market research also means that Kelloggโs can attempt to strengthen its product range to ensure that they beat the competition To develop a new product that is an extension of the Crunchy Nut brand Kelloggโs firstly undertook primary research (focus group) to find out answers to questions to find out innovative trends in the cereal market, they also used secondary research to find this out. The next stage was for them to select the best idea this is to make sure they make the best product to beat their competition, this involved asking groups of people to rate the ideas against a scale (quantitative research). The next stage was for them to create a prototype product which they allowed people to sample and provide feedback in the form of quantitative and qualitative data, the same process also happened for the packaging during this stage. The last stage is called the โhome usage testโ where Kelloggโs can forecast whether the sale of the product is viable if so they will then decide to begin to manufacture the product. This research will be used so Kelloggโs can plan for the future of their market by creating a PESTLE audit, SWOT analysis, and SMART targets. PESTLE audit PESTLE stands for political, economic, social, technological,
legal and environmental influence. Political changes need to be predicted do Kelloggโs can prepare for the changes. Economical changes are to de with the performance of Kelloggโs. Although the performance will vary depending on how strong the economy is. Social factors are to do with how society views certain practices, Kelloggโs could notice and change that opens the market to them and act on it. If Kelloggโs gets a technological development before other businesses do then they are going to have an advantage over them. Legal developments need to be constantly watched to ensure that Kellogs doesnโt break the law, for example, Kelloggโs are not allowed to market fatty and sugary foods to children and if they did it would be pulled from the air and they wouldโve wasted money. Environmental factors can come from pressures in different forms, for example, customers may become aware of companies that are more environmentally friendly than others and will want to buy from that brand or an example that contrasts to the one would be that a company finds too expensive to make changes to their business so they donโt. A PESTLE audit can be created using Kelloggโs market research that they had collected, for example, the focus groups could be used to collect the social side of the PESTLE audit. SWOT analysis SWOT analysis stands for strengths, weaknesses, opportunities, and threats. Strengths are in terms of features of the organisation internally that give the business a competitive edge. Weaknesses are the opposite of strengths, so the internal factors that are a downfall to the business. Opportunities are
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
to do with external events that happen that will help Kelloggโs. Threats are the opposite of opportunities, they are external events that could cause issues for Kelloggโs for example, a competing business holding a large promotional event. A SWOT analysis can be created by Kelloggโs. Kelloggโs would mainly use their primary market research to find out their strengths and weaknesses and use their secondary research to find out their opportunities and threats. SMART targets SMART targets stand for specific, measurable, achievable, realistic and time-related. Specific is talking about how the target needs to be clearly stated and clear. Measurable is to do with the business being able to know if they are hitting the target, therefore it has to be quantifiable. Achievable is making sure that can be done and that it is useful. Realistic is making sure that it is sensible. Time-related is setting a target that has a time scale of what needs to be done. Kelloggโs can set targets based on the research that they had done to create the PESTLE audit and SWOT analysis, to ensure that what they have fund out is dealt with. Kelloggโs will collect research and organise it into a PESTLE audit, this will give Kelloggโs clear areas that need to be changed or developed. Kelloggโs will also create a SWOT analysis to see internal and external areas that need to be looked into that may overlap with the PESTLE audit. After
Kelloggโs has done both the PESTLE audit and the SWOT analysis, they will have clear, obvious areas they need to improve on and will then be able to produce SMART targets to help implement changes. P4/P6/M2/D2 Yourecently set up a new business which will beselling a new mobile phone called the ULTRA PHONE 4and you have contracted a marketing company called โLightening Market Research Ltd.โ to carry out market research on what sort of phones consumer like. Prior to receiving the results of the market researchyou were initially planningon: ๏ทselling the phone at ยฃ450. Your competitors currently charge ยฃ300 for phones similar to yours ๏ทonly having one choice of colour as you currently can only make one choice of colour ๏ทselling the phone only in Europe. Currently there is a shortage mobile phone competitors in Europe but strong demand for variety from consumers ๏ทusing a Windows based operating system software though you have a very experienced technical department who can work with all the operating system software available They have provided you with some market research which you need to use to make plans for marketing the new phone You will develop your marketing plan by carrying out a SWOT analysis and creating marketing mix
Lightening Market ResearchLtd. The research is based on surveys carried out with 6,000 people which is broken down into the following demographics all of whom lived in Europe: Male: 3000 people | Female: 3000 people | Age 13 - 18: 2000 people | Age 19 - 49: 2000 people | Age 50+: 2000 people How much are people willing to spend? 5% of those surveyed would buy a phone that costs ยฃ400+ 20% of those surveyed would only buy a phone that costs less than ยฃ100 50% of those surveyed would only buy a phone between ยฃ101-ยฃ199 25% of those surveyed would only buy a phone between ยฃ200-ยฃ400 What tech specification do people want? 70% of those surveyed have a preference for a Android based operating system software 30% of those surveyed have a preference for a Windows based operating system software When asked to choose between camera quality and audio quality: 67% of people chose camera quality 33% of people chose audio quality What type of advertising grabs your attention the most? 55% of those surveyed said TV advertising 30% of those surveyed said online advertising
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
5% of those surveyed said email advertising 10% of those surveyed said mobile advertising Demographics Age 50+: This group of customers had a preference for a more basic phone available in one or two conservative colours. This group generally had a preference for phones costing between ยฃ101- ยฃ199. This group also had a preference for better camera quality instead of audio quality as they enjoyed taking pictures of their family especially of their children and grandchildren. This was consistent across both the males and females in this group This group had a preference for TV advertising as they spend more time at home than they used to when they were younger and pass time watching TV or listening to the radio This group was split evenly between the Windows and android operating system Age 19-49: This group of customers had a preference for phone in the ยฃ200-ยฃ400 price range and they also make up all of the people who said they would spend ยฃ400+ on a phone This group was split evenly between the Windows and android operating system This group had a preference for having a choice of colours they could choose from. The also mostly had a preference for camera quality overall as a group though males did show a higher interest in audio quality Age 13-18: This group of customers would like many options of phone colour and also very bold colour options. This group of customers had a preference for the android operating system as they were used to this operating system being available in more affordable phone Overwhelmingly the preferred price point for this group was ยฃ100 or less. This is likely due to
age When it comes to a choice between camera quality and audio quality the males in this group had a slight preference for audio quality but the females had a preference for better camera quality This group spends the majority of their time on their phone or online on social media and feel they respond and engage with advertising on these platforms more than any other Carry out aSWOT analysisfor the new phonebased on your initial planstaking the market research from โLightening Market Researchโinto consideration Simply creating a matrix/tale is not sufficient you need to explain each element of your โSWOTโ {P4} Strengths it is split into demographics so is targeting for a specific group more tailored for individual needs and wants. Weakeness age groups of samples are very large so could incorrectly represent the group. Decide on a target customer group and state it here (you can choose more than one target group) {P4} Develop a coherentmarketing mixfor the new phone specific to your targeted customer group taking the โlightening market researchโ report and any changes you have decided to make to your initial plans(if any) into consideration. {P6} Explain why the marketing mix you developed is
relevant for your chosen target group of customers {M2} Evaluate how the developed marketing mix would need to be modified for a new contrasting target group of customers {D2} LO3 โ Understand how and why customer groups are targeted P5 Explain how and why customers are targeted for specific products Use real examples of companies targeting specific customers to backup your answers {P5} Market segmentation is an idea of how is made up of different groups (segments) of people. These different segments include different groups with the same wants, purchasing power, geographical location, buying attitudes or habits. Segmenting a market helps a business to design products that these different segments want to buy to ensure that they can get the maximum profit possible, they can also figure out how much they would be able to sell the product for which would increase demand. There is a typical way that businesses may segment their market and this is by dividing the consumers into geographic, demographic, psychographic, socio-cultural. Geographic is to do with the location of the customers, which is either to do with rural or urban or regional/national boundaries. Demographics are to do with age, sex, race, economic status, and so on. For example, a business that offers rejuvenating cream targets older people.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Psychographic is about the lifestyle or beliefs of its customers. For example, a business can target groups of people that are unable to eat gluten or diary by providing products that do not contain this. Socio-cultural is mainly to do with the class of the customers. For example, people may see trends in what people spend their money on and act on it to ensure that they provide services to all different people in the UK that may have different cultures to one another. Disneyland Paris Disneyland Paris segments its market geographically, socio-culturally and demographically to ensure they can entice as many families as they can. As Disneyland is in Paris they generally market people fromUK, France, and surrounding areas, this is because of people from the UK can easily get there as there are crossings to France from Dover and Folkestone, and people in or near France can easily drive, get the train/coach or fly. Disneyland segments its market socio-culturally by ensuring that it offers deals for lower-income families and different hotel options which have different prices. Demographically Disneyland Paris focuses on families that generally have children aged 4-12 years old, also outside of the school holidays Disneyland Paris needs to keep people coming to the park so they would want people with either younger than school-age children or adults. Disneyland creates an environment that will suit these groups of people that they want to come. They create rides for young children and rides that are suitable for all age ranges. It is mainly promoted as a family holiday park which means that it doesnโt accept disorderliness fro, the older vacations goers.
Thorpe Park Thorpe park segments its market geographically, demographically, psychographically, and socio-culturally. Thorpe Park is located 20 miles away from central London, London is a prime tourist area and is densely populated which means that it is good for any business to be there because it is the biggest market in the UK. people will be happy to travel to Thorpe Park because of the quality of the rides it offers. Thorpe Park generally appeals to 18-35 years old, although it does cater for younger ages their main target audience is older, this is hoe Thorpe Park segments its market demographically. Psychographically is to do with Thorpe Park generally appeals to โadrenaline junkiesโ due to the nature of their rides, people who fear speed or heights may not enjoy going to Thorpe Park at all. Thorpe Park offers deals such as two-for-one for customers that may not be able to afford the tickets, travel and any other expenses the day might incur, this is to ensure that the park isnโt left empty (this is how they segment their market socio-culturally). Saga Holidays for the over 50s Saga wants to be successful in supplying holidays to the over 50s, to do this they need to ensure that the holiday they offer appeals to people of that age. Saga will need to appeal to as many over 50s as possible because they have closed off their market by only offering holidays to that group of people instead of offering holidays to families as well. By segmenting their market like this Saga can attract the over 50s more than a company that offer holidays for all, for example, Thomas Cook. over 50s will more likely want to go on a Saga holidays because they know that it is designed for their age range and that they will be surrounded by people in a similar boat that
want to do similar things. Saga segments its market psychographically and demographically. The psychographic side and demographic side overlap they market only to people of a particular age group (demographic) through ensuring the activities on their cruises are what that age group want to be doing instead of clubs that would attract a younger audience (psychographic). FreeFrom FreeFrom segments its market psychographically. People buy FreeFrom products for two different reasons, either they are enabled to eat dairy, wheat, gluten or egg due to allergies/intolerances, or they have made a lifestyle choice which stops them from eating these certain ingredients. Due to this FreeFrom tries to please both these types of people and aims their product at them. People who are enabled to eat dairy, wheat, gluten or egg are in constant search for alternatives of products that they like but they are unable to eat, FreeFrom markets all these people because there are many of them and it is a niche in the market that FreeFrom has practically taken over. There is no brand that offers food that is FreeFrom dairy, wheat, gluten and egg, the brands that rival FreeFrom mainly offer food that is free from one of these, for example, Genius that offers gluten-free products. Costco Costco is a business that sells wholesale products to other businesses at a cheaper price (because they buy in bulk) so the businesses can then sell the products on for the profit. Costco segments its market geographically, depending on where the warehouses are they will
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
change the stock, if the warehouse is in a hot area/country then they will sell fans and air conditioning units and if the warehouse is in a cold are/country then they will sell shovels and heaters. They also segment theirmarket socio-culturally by considering trends in different markets, there are poor or rich areas in the world and Costco will not stock many luxury items when they know that people in that region will not be able to afford them so instead they would offer items that seem to be value for money, which means that they can offer their products to people all over the world and make sure that they get in on the market that makes the most money in the region. Kent Country Suppliers (KCS) KCS sells all the necessities that schools and offices would need. The customer profile is schools and offices in Kent that require stationary equipment that does not have the biggest budget to spend. They only sell to schools and offices in Kent so their market is geographic. KCS knows that school and offices need a supplier to offer them a wholesale price.KCS is the leading school and office supplier in Kent which means they own most of the market share. Supplying stationary for other busuness is a small niche in the market and KCS probably saw that there wasnโt a particular company that offers wholesale items for schools and offices im Kent and decided that it was a market they could get into. References https://www.coca-cola.co.uk/ Data Protection Act 2018
Data Protection Act 2018 Sale of Goods Act 1979 - Which? Consumer Rights Sale of Goods Act 1979 - Which? Consumer Rights The Sale of Goods Act 1979 has now been replaced by the Consumer Rights Act, but may still apply if you bought f... Consumer Protection from Unfair Trading Regulations - traders: OFT1008 Consumer Protection from Unfair Trading
Regulations - traders: OFT1008 This guidance is principally intended to help traders to comply with the Consumer Protection from Unfair Trading... Welcome to GOV.UK GOV.UK - The place to find government services and information - Simpler, clearer, faster Marketing strategy of Coca cola - Coca cola strategy
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Marketing strategy of Coca cola - Coca cola strategy The Marketing strategy of Coca cola discusses the strategies implemented over time by one of the massive and mos... Home | Kellogg's Home | Kellogg's Discover Kellogg's healthy breakfast cereals and snacks. Find nutritional advice, healthy recipes and Kellogg's ... For Assessor To Complete FEEDBACK Feedback #1 Feedback Date:12th September 2019 Assessor Name: Korsima Lindsay Deadline date for feedback to be actioned: 3rd October 2019 Ana, Your assignment is still in its draft stages and you will need to check your work for
spelling and grammar. It is also crucial that you use the Unitโs guide/help, Unit specification, and the classroom resources/handouts to inform your essay. P1: Criteria Not Met You have not covered any marketing techniques in your answer to P1 for both Coca Cola, and Apple. P2: Criteria Not Met P3: Criteria Not Met P4: Criteria Not Met P5: Criteria Not Met P6: Criteria Not Met M1: Not Met M2: Not Met Feedback #2 Feedback Date: Assessor Name: Deadline date for feedback to be actioned:
Feedback #3 Feedback Date: Assessor Name: Deadline date for feedback to be actioned:
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.