This is a solution of Unit 1 Marketing Management Assignment Help in which we discuss Developing business
Marketing is a business management term that helps the organisation in communicating the organisation’s messages to the right customers and it also helps the organisation in gaining the competitive advantages and profit. Basically, the whole concept of marketing revolves around the customers as it helps the organisation in identifying the need of customers; analyses the resources of the organisation so that the customers of the company could get the benefits by satisfying their need from the services and product offered by the organisation. To get the clear views on the marketing principle, the case study of “”Appy Food and Drinks” will be analysed along with the different principles of marketing principles.
1.1 Explain the various elements of the marketing process with suitable examples from Appy Food and Drinks.
Marketing could be defined as a process that makes the organisation able to fetch the exact knowledge and information about the customers and the environment or market to achieve the objective of the organisation. The different elements of the process of marketing in the context of “Appy Food and Drinks” are listed below:
Identify the objectives: before starting the marketing campaign or promotion, it is very important for the “Appy Food and Drinks” to set the objectives as the objective will provide the exact path to the indulged employees of the organisation.
Situation Analysis: this analysis also known as SWOT analysis, this is the analysis that would help “Appy Food and Drinks” in evaluating its weakness, strengths and also will work on opportunity and threats. Under this analysis, the manager of the company can get to know the exact use of the resources they can build on and the challenges that they may have to face (Zhang, 2012). SWOT analysis of “Appy Food and Drinks” is as follows:
Marketing business strategy: After the SWOT analysis, it is very important for Appy Food and Drinks to formulate the strategies according to the information and knowledge of the market fetched by situation analysis. The marketing strategies are the plans that help the organisation in taking the decision on the various aspects such as customers, promotion etc. the Marketing strategies that Appy Food and Drinks can formulate are:
- Segmentation: this strategy helps the organisation in dividing the whole markets into the small segments. All segments are different from each other on the basis of location, age, gender, occupation etc.
- Targeting: this strategy helps the organisation in choosing one or more segments out of all small segments which are divided in the segmentation strategy (Yuan & Han, 2011).
- Positioning: this strategy helps the organisation in attracting the customers by setting a positive image in their minds.
Marketing mix decisions: The marketing mix decisions are the decisions that can help the management of Appy Food and Drinks in various aspects such as the design of product, the price of product, cost of product etc (Schoultz, 2013). Generally, these are known as 4P’s which are listed below:
- Product: helps the organisation to take decisions making on what to produce, in which quantity, how and when.
- Price: the price of the product, total cost of product etc. are answered.
- Promotion: the advertising, public relation, publicity etc. are analysed.
- Place: the distribution channels etc. are analysed.
Implementation, evaluation and control: In the last step, the whole strategies and decisions on the product is implemented in the real world. The management also has to control the factors that may affect the process in any mean.
1.2 Evaluate the benefits and costs of a marketing orientation to Appy Food and Drinks.
By choosing the marketing orientation approach, Appy Food and Drinks would try to address the desires, needs and wants of the customers through the quality of its products. As the research on Millennial Generation suggests that most of the young people now believe in the ethical products, Appy Food and Drinks would have to integrate this in its product development process and then market the process to let the Millennial Generation know about how much Appy Food and Drinks care for their health and ethical concerns (Williams & Chinn, 2010). Marketing orientation would allow Appy Food and Drinks to identify the exact needs of the customers and then earn their loyalty. The overall value perceived by the potential Millennial Generation customers is going to define this era which can be reached through marketing orientation. Some of the main benefits of the marketing orientation approach for Appy Food and Drinks are:
Customer Satisfaction: This approach would make sure that the products from Appy Food and Drinks satisfy not only the needs but also the wants of the customers.
Customer loyalty: Once Appy Food and Drinks earn the customer loyalty through customer satisfaction, it would be beneficial for the company in long run (Wilson, Daniel & Appy Food and Drinks, 2002).
Competitive advantage: Halo Food would have sustainable competitive advantage in the market
There are also some costs to the marketing orientation approach which are:
Cost of engaging the customers: Appy Food and Drinks needs to engage the Millennial Generation in its marketing plan and the company would have to use extensive technology for this purpose which would be costly
Research Cost: Since Appy Food and Drinks would be targeting the stated and hidden needs of the Millennial Generation customers, company would be launching the market research campaigns and survey to understand them.
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