Unit 1 Business Communication And Development
This assignment will discuss and summarise key issues and elements of the Marketing process. It generates the strategy that underlies sales techniques, business communications, and developments. It is an incorporated process that can be modelled in a sequence of steps: the situation is analysed to identify opportunities, the strategy is formulated for a value proposition, tactical decisions are made, the plan is achieved and the results are monitored.
- Explain the various elements of the marketing process
Marketing is the social process by which individuals and organisation obtain what they need and want through creating and exchanging value with others. (Kotler & Armstrong, 2010). The marketing process of accompany typically involves identifying the viable and potential marketing opportunities in the environment, developing strategies to effective utilise the opportunities, evolving suitable marketing strategies, and supervising the implementation of these marketing efforts. (M. Patidar, 2012).
- Discuss and summarise key issues and element of the process
Sainsbury’s which is one of the most prosperous companies in the world has been chosen for case study. There are four key elements of marketing process, environment analysis, and strategy development, the choice of the marketing mix and implementation and control.
The Marketing Process
Marketing process has several steps and these steps are summarising below:
1 – By analysing marketing opportunities, Sainsbury’s has the opportunities to find out about the current and future market trends, current resources and capabilities, and internal and external environment. Research project into the environment defines the strengths and weaknesses of the Organisation, the competitive forces at work and the macro forces that affect business and what the market actually wants.
2 – The next step element is choosing of target customers for its products and services. Sainsbury’s will segment the whole market in different parts based on different aspects and select the best one for its products and services.
3 – Sainsbury’s has to develop marketing strategy after selecting the target market and marketing strategy that consists of value proposal, targeting, segmenting and positioning of services and goods. Marketing strategy is composed of segmentation, targeting and positioning. It also gives Sainsbury’s the general vision of achieving goals or where it wants to be.
4 – The Marketing mix decisions is tactical tools used to attract customers, beat competitors, increase sales, and provide a better value for its customers. The 4Ps- Product, Price, Place and Promotion are the key issues and elements, of the marketing process and this include: what a company is going to produce; how it is much it is going to charge; how it is going to deliver its products or services to the customer; and how it is going to tell its customers about its products and services. As marketing become more highly developed and complex, a fifth “P” was incorporated which was (People), and recently, two further “P” were added, mostly for service industries and they are Process and Physical evidence. There are now considered as the 7Ps of marketing.
5 – Implementation and control is the fourth elements of the marketing process. It allows organisations like Sainsbury’s to assess whether they had planned and performed diligently throughout production in order to satisfy customer needs and had brought to market the right marketing approach and mix.
(Hitesh Bhasin, 17 may 2012)
Unit 1 Business Communication And Development
- b) Evaluate the benefits and costs of a marketing orientation for a selected organisation
Production orientation is when a business makes products that are affordable and available. It is useful for management in order to make sure that the organisation is as efficient as possible in production and distribution techniques.
Product orientation believes that the consumers are mainly interested in the product itself, and they will buy base on the product quality; as the consumers want the highest level of quality for their money.
Selling orientation is when an organisation structures its business by focusing on needs that are required for selling to the market. This means the organisation is more interesting on selling rather than customer needs. It is the opposite of customer orientation.
Societal orientation is a business perspective by which a company operates in interest of the society as a whole. For example, a company operates sells food items with ingredients that are sustainably farmed.
Marketing orientation is a business model that focuses on delivering products designed according to customer desires, needs, and requirements. Sainsbury’s can develop products based on either product oriented approach or a marketing oriented approach. The marketing oriented approach means Sainsbury’s reacts to what customers want. Marketing orientation is the best orientation Sainsbury’s can adopt because Market orientation has the benefits of focusing and meeting the stated or hidden needs or wants of customers; or it express a marketing perception which put the customer’s needs in the core of all firm’s activities, according to Dalgic (1998). Therefore, Sainsbury’s benefits from decisions based on customers’ needs and wants rather than what Sainsbury’s thinks is right for the customers. In general, organisations follow market approach because market oriented approach brings some benefits and costs to Sainsbury’s. Further benefits of market oriented approaches are: this process is customer centric and Sainsbury’s gives importance on the customers’ demands and needs; Sainsbury’s reacts with customer demand, this process helps Sainsbury’s to create buyer value that increase customer loyalty and frequent shopping; as Sainsbury develops products and services that gives competitiveness over its competitors.
A marketing orientated approach means that McDonalds must spend to develop what customers want, and the decisions are taken accordingly to the information based on customers ‘needs and wants, rather than what the business thinks is convenient for the customer. McDonald’s market – orientated approach needs investment in the right products or service as customers require more variety and better quality. For that reason, the businesses need to invest constantly in marketing and be more sensitive to their customers and market needs otherwise they will lose sales to their competitors. Order Now