Marketing Report: Analysis of 7-Eleven's Marketing Strategies

This report provides an analysis of 7-Eleven's marketing fundamentals. It begins with an introduction to the company, highlighting its vision and core values. The report then delves into the marketing concepts and processes employed by 7-Eleven, emphasizing their role in maintaining a competitive edge. It further examines the marketing environmental elements, with a particular focus on socio-cultural factors and their impact on the company's profitability and efficiency. The report uses PESTLE analysis to assess market risks and opportunities. Recommendations are provided to address socio-cultural factors and enhance sales and revenue. The conclusion summarizes the key findings, reinforcing the importance of marketing strategies in 7-Eleven's success. The report also includes a list of references used for research.

7 Eleven Marketing fundamental

Marketing fundamental
Table of Contents
Introduction...........................................................................................................................................3
Answer 1 marketing concept and processes...........................................................................................3
Answer 2.Markting environmental element...........................................................................................4
Answer 3. Recommendations................................................................................................................4
Conclusion.............................................................................................................................................5
References.............................................................................................................................................5
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Introduction
The main motive of this paper is to discuss the significance and role of marketing
concepts and process. 7 Eleven is a Japanese owned American chain of convenience stores
that has been selected in the task. The company was originated in 1927 with it’s headquarter
is located in Chiyoda, Tokyo. The company’s iconic products are a big and effective part of
the American culture. Further, the paper also explains that how socio-cultural factors may
affect the profitability and efficiency of the firm. More detail of the task has been detailed
below.
The main vision of the company is to be the best retailer by providing effective and
unique products to the customers in the marketplace. The core values of the firm include
understand, simplify, solve and connect. In addition, diversification strategy is used by the
company to capture the entire market globally (7 Eleven, 2018).
Answer 1 marketing concept and processes
The marketing concept and processes play an empirical role in each and every
company to stay in the competitive market. The marketing concept may be defined as a
strategy that the company initiates to satisfy the customer needs, maximize profitability,
increase sales and beat the rivalries. In other words, it is a science and art of creating,
exploring, and rendering value to satisfy the needs and requirements of a target market at a
profit. Along with this, marketing identifies and measures the unfulfilled desires, wants and
needs. On the other hand, marketing process can be defined as a process of evaluating the
opportunities in the global market, selection of the target market and expansion or
development of the marketing mix and administration of the marketing efforts and roles
(Boone & Kurtz, 2013).
After the various analysis it is stated that Seven eleven Company initiates the
marketing concept and process to cope up with the rivalries worldwide. The marketing
concept and process is initiated by the company to improve the quality of the products and
services. The marketing gives a finishing touch to business activities and performance.
Beside this, marketing promotes and enhances the strong and heavy competition among the
manufacturers (Papadopoulos & Heslop, 2014). It also leads to a better and effective
utilization of scarce resources. In addition, marketing concept also helps in increasing Seven
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eleven Company profitability and satisfaction of the customers. By using marketing concept
and process, the organization has been able to produce the products according to the choices,
tastes and preferences of the customers (Baker, 2014).
Answer 2.Markting environmental element
It is noted that environment affect the progress and goals of the company adversely
and positively as well. No company can survive and grow its business without identifying
and analysing the macro environment. 7 Eleven company needs to measure and identify the
macro environmental factors in order to compete with competitors in the global market.
Pestle analysis is done by the organization to identify the risks and challenges of the market.
Furthermore, it also helps in measuring the threats and opportunities of the market. Socio-
cultural is one of the biggest and unique macro environmental factors that can have direct
impact on the efficiency and effectiveness of the organization (Van Wormer & Besthorn,
2017).
The socio-cultural factors include custom, beliefs, attitude, values, and behaviour of
the consumers. The purchasing power of the consumers is an effective and dynamic factor
that can influence the growth rate of the firm. The other social factors include education,
lifestyle, and cross cultural communication that could also influence the outputs and
efficiency of 7 Eleven Company. The social element and cross cultural communication play a
vital role in international and universal market. Sometimes, social factors can become an
issue in managing and handling the local labor force and marketing issues and concern. The
success and growth of 7 Eleven company depends on the socio-cultural factors that can help
the firm to beat the rivalries in the marketplace. Marketing research or survey is done by the
firm to analyse and identify the purchasing power of the consumers globally. In this way, 7
Eleven Company has been able to make a dynamic and unique image in the minds of the
customers (Labov, 2011).
Answer 3. Recommendations
It is noted that socio-cultural factors is one of the biggest factors for the company to
increase and enhance the sales and revenue of the company. The company should focus and
analyse the socio-cultural factors to overcome the competitors and to accomplish the desired
targets and goals in a hassle free manner. To manage and handle the socio-cultural factors,
firstly 7 Eleven Company needs to focus on the buying behaviour of the consumers in the
universal market. Along with this, 7 Eleven Company also analyse and measure the culture,
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values and beliefs of the people in different countries. If the firm analyses and identifies the
culture and values of the people in different countries then it makes easy to carry out the
business activities and operations in various countries (Kotter, 2008). 7 Eleven needs to make
unique and innovative marketing strategies, policies and plans to beat and hit the competitors
in the marketplace. Aside this, the organization should also initiate the marketing campaigns,
research and survey to promote and enhance the products of the company. It will further help
in reducing socio-cultural differences in the global market. Training and development
sessions and seminars shall be held by the firm to improve and enhance the talents,
capabilities and skills of the workers so that they easily focus on the target market globally. 7
Eleven cannot expand and flourish the business internationally without using marketing
research or survey. In this way, the organization can control on the socio-cultural factors
effectively and smoothly (Rothaermel, 2015).
Conclusion
It has been concluded from the above mentioned analysis that 7 Eleven company is a
leading company that provides food products to the customers across the world. The above
analysis shows that how the organization uses marketing concept and process to compete
with rivalries in the marketplace. In addition, environmental analysis is done by the
corporation to maximize the outputs and minimize the risks and threats of the market.
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References
7 Eleven. (2018). About us [Online], Retrieved from http://corp.7-eleven.com/corp/about
Baker, M. J. (2014). Marketing strategy and management. Macmillan International Higher
Education.
Boone, L. E., & Kurtz, D. L. (2013). Contemporary marketing. Cengage learning.
Kotter, J. P. (2008). Corporate culture and performance. Simon and Schuster.
Labov, W. (2011). Principles of linguistic change, volume 3: Cognitive and cultural
factors (Vol. 36). John Wiley & Sons.
Papadopoulos, N., & Heslop, L. A. (2014). Product-country images: Impact and role in
international marketing. Routledge.
Rothaermel, F. T. (2015). Strategic management. McGraw-Hill Education.
Van Wormer, K., & Besthorn, F. (2017). Human behavior and the social environment, macro
level: Groups, communities, and organizations. Oxford University Press.
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