This is a solution of Unit 1 Marketing Assignment Help in which we discuss Developing business
Marketing is one of the most important processes of the organisation as it increases the success rate of the product produced by the organisation by identifying the exact need of the customers present in the market. In the other words, the term marketing principle is basically a form of communication between the customer and organisation in which the organisation wants to sell the product to customers for the purpose of gaining profit and customer wants to buy the product to satisfy his or her needs. The main concept of marketing is to communicate the right message to the right customers so that they can purchase the goods or services according to their needs. The process of marketing includes various concepts such as buying behaviour, segmentation, targeting etc. For the better understanding of the concepts of marketing and its principles, I am taking the case study of “Appy food and drinks”.
Task 1 Process of Marketing
1.1 Explain the various elements of the marketing process with suitable examples from Appy foods and drinks.
Marketing is a term that helps the organisation in satisfying the exact need of the customers and this can’t be possible without a deep analysis and research on the market and customers. Thus, the process of marketing includes the following steps:
Setting of objectives: this is the important step of the marketing process as it defines the main motive of the organisation to be in the market as in the case of Appy foods and drinks, the main motive of the organisation is to keep the children and families happy and healthier.
Situation Analysis: Once the objective is defined, then it is very important for the organisation to analyse the situations and conditions of the market with the help of market research project (to identify the capabilities of market), customer analysis (to identify the need and wants of customers) and competitor analysis (to identify the strength of competitors) (Huang & Sarigollo, 2012). Following are some other analyses that are also included in situation analysis:
- SWOT Analysis: SWOT analysis done by the McDonald is explained in the following diagram:
· Products are low calories and low in sugar.
· Healthy for families and children as it does not have any artificial stuff.
· Absence of snacks etc.
· Millennial generation
- PEST Analysis: PEST analysis of the organisation includes the political, economical, social and technological factors. These factors will be discussed afterward in this report in detail.
Marketing strategy: Marketing strategy are the actions that the organisation takes after analysing the environment of the business. In the context of Appy food and drinks, the marketing strategy includes:
- Segmentation: the marketing strategy that divides the markets into the various segments. Appy foods and drink also has divided its segments into various sub-segments according to behavioural, geographical, and psychographic basis.
- Targeting: the marketing strategy that helps the organisation in choosing the best segment from the various sub-segments. The selection of best segments highly depends on the available resources and the capability of the organisation.
- Positioning: the marketing strategy that can help Appy foods and drinks in creating a positive image of the product in the mind of customers (Kim & Hyun, 2011).
Marketing mix decisions: these are also known as 4P’s. These are the decisions that Appy foods and drinks have to take on the products launched by the organisation. These decisions include:
- What to produce that can satisfy the targeted customers, how to produced, design and quality of the product (PRODUCT)
- What price the targeted customers willing to pay, the cost of product, (PRICE)
- The place where Appy food and drink can distribute the product (PLACE)
- Advertising, public relation, campaigning etc (PROMOTION)
Implementation and control: this is the last step of marketing process that enables the organisation to implement the actions or strategies and also helps the organisation in controlling all the factors that can influence or affect the process.
1.2 Evaluate the benefits and costs of a marketing orientation for Appy foods and drinks.
The marketing orientation is a concept that works on the exact need of the customers and tells the organisation about the valuable information system about the customers such as their needs, wants, spending power, nature etc. Earlier the production concept was in prevalent where the main focus of the organisation was on the production unit but nowadays most of the organisation is using these concepts and gaining the success into the market.
“Appy foods and drinks” company is also using the marketing orientation concepts by offering the products of low calories and sugar as now days most of the beverages companies are targeting youths and offers the refreshment drinks for them. These refreshments are high in calories and sugar and these products also have artificial stuff that could be bad for the customers. “Appy foods and drinks” recognised the need of the products that are low in sugar in calories and also don’t has artificial stuff. Thus the company is offering a range of foods and drinks option for the children and families. Benefits, “Appy foods and drinks” can avail from the marketing concepts, are mentioned below:
- Customer satisfaction: the customer keeps the customer’s satisfaction first in its priority list and marketing orientation strategy always tries to meet the level of the satisfaction to the customer by the products offered by companies (Liou, et al 2011). If the product is strongly fulfil the need of the customer then the customer will buy the product by paying double in money. This has been proved in the recent research done by Boston Consulting Group in USA; the millennial would like to choose healthy options like organic food, in spite of tougher economic conditions.
- Customer loyalty: the customer satisfaction brings the customer loyalty for the organisation. If the customer is getting the product what is satisfy their need and under the spending range for them, they will buy that product only for sure. The marketing orientation brings the loyalty to the organisation.
When the marketing orientation concept enables the organisation to catch the maximum numbers of the customers, then obviously the cost of the strategy would be high. In other words, the cost of the marketing orientation is very high because the whole process of marketing orientation includes:
- Researches and finding.
- Interviews of experts.
- Recruitment etc.
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