Analyze Marketing Principle Assignment

Analyze Marketing Principle Assignment Words: 4097

The company doesn’t provide complimentary meals or ref resentments on board to re duce coastland increase space declamatory more customers, whereas customers c n buy items on body by using Easiest Bistro (buy onboard programmer). T he onboard programmer also helped the airliner to increase its revenue. Easiest has also got other value added services like Streetcars, Easiest holidays and Ease yes Hotels. Withes services Easiest can provide one stop shop f or its customers, b 10th Business customers as well stragglers on holiday.

Price: In generally it is a conception that if a company lowers the price of its product, the or generalizations have expanded sales. Practically it is an invalid argument as the cuss tamers do not decide on price;they do look f or other components such as quality, coos fee f activeness, time, easy accessibility and valuated services with also keeping in mind the customer relation management of a f rim. T he element “Price”of marketing mix could be divided into two categories,such as price determination and price admit uncharacteristically.

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Easiest whose business model is similar to the Southeast airlines of US has kept its pr ices lower than Taft other airlines. Easiest reduced its prices to accommodate more passengers ad to f ill out empty Stetson the f light. T he reduced prices by cost cutting nag in various areas such as airport charges, direct sales to the customer and also red icing their advertisement costs. Tipper seat cost was cut down by 16% beneficiaries the seating density and no business class. Easiest saved 64% of cost per seat by these strategies, which helped them to reduce their overprices to the customer.

Place: “Placement or Place under marketing mix involves all company activities that make the e product available targeted customers”(Kettle and Armstrong, 2004). T he Easiest strategy has to serve all big continental European destinations such as A mastered,Berlin,Paris, London and many more cities. T hey are also targeting the Asia Pacific ICC market as there is a potential grow business. Promotion: Promotion is nothing but the means in which a compassionateness to its customs RSI bothered product, values maddened its of a product. Easiest used various strategies sees to communicate to their customers.

T hey are:T he company has mentioned its website address where ever Ithacan. T hey have literally put the address on its Boeing ass’s. Ease yes also runs internet promotions on newspapers. Its f iris promotion was in “T he It mess” in February’s. T he result of this promotion ended up with Easiest selling 20, 000 out of its 50,000 seats in the f airiest and all other seats were sold in next 3 days. Using this strategy the company was able to cut down jobs and saved money. Easiest also f allows f iris come f iris serve basis, the f allowing table gives a clear India action.

T he website was also used as a tool instead of paying the PR companies. Captions us chi as “T he web’s favorite airline”, “Battle with Sassier” and the latest “come let’s f lay Easiest became a house hold name in the United Kingdom as it was listed in a Airline T V series which wassailed on T V during 1999 to 2007. 1. 2 Evaluate benefits and costs of marketing orientation for the case organization Marketing Orientation means how a company develops new product considering the two approaches fermentation, which are product oriented and marketing oriented. Product Orientated” approach means a f Rim develops product based on its choice or what thecompany Osgood at delivering to the customer rather than keeping the custom mere in mind. T historiography is interpenetrated in competitive markets and may often lead to unsuccessful LU venture. “Marketing Orientated”, in this the businesses analyses the needs and wants of the c customer in developing product. T he product revolves round the info orientation and d TA provided by research on the customer ‘Sneed and wants and developing a right product.

T his type of orientation often leads to successful liveliness. Task-2: Segmentation, Targeting & Positioning 2. 1 Show macro and micro environmental factors which influence marketing decision When Easiest is taken into consideration, the micro environmental f actors that info LU once its business are: Assets: Easiest owns all of its planes and has complete control over it. T hey do not TA eke inappropriate reassert on rental basis. T hey go f or 100% ownership. Hence complete e control over assets. Employees: Easiest has f ewer staff f due to no-f lunch strategy onboard.

Agents and vendors: Easiest uses direct selling strategy and does not out source its it cutting or customariness to any other organization which means they have control over marketing and customer relinquishment’s. T he “Micromanagement”, these f actors that indirectly info lance the business and the e company do neonate a direct control over these f actors. T he company need to rest Vive round these as the company shoulder in a position to adapt to these f actors. T he f actors include such as Political, environmental, social anthropological f actors. 2 Propose segmentation criteria to be used for products in different markets In business market segmentation there are 3 types: Geographic: Includes customer orientation, regional growth rate and macro economic f actors. Demographic: “Includes age, gender, ethnicity, education, occupation, income and f a mill status”. Cryptographic: includes values, attitudes, f actors such as loyalty and order size. According to the owner of the Easiest who says that he wants only 6 million customer s in a year Earthman targeting all 56 million people in Europe to keep his airline seat s occupied.

Easy nonrepresentational is targeted towards business customer and leisure travelers in Europe. Easiest f lies to almoner tourist and business destinations in Europe. Easiest has segmented concentrated more nebulousness customer who’s t sickest are normally paid by the companies and leisure travelers who f lay to majored paean destinations with travel packages, which include scarce and systole value a deed services. 2. 3 Choose a targeting strategy for a selected product/service Targeting strategy may be info launched with the f allowing f actors: Maturity of the market.

Buyer ‘s needs and choices. Competition. Number of sales required f or proof it In the case study of Easiest, if you use the above template:When Easiest entered mar get it was quiet mature as they had stiff f competition with British Airways and Ryan but Easiest understood the users needs and wants by research. In whichever came to a conclusion on which notes that business customer’s re cheaper f lights f or shorter destination ones and value added services if customer is looking f or leisure travel. 2. Demonstrate how buyer behavior affects marketing activities in different buying situation Social f actors: T hose are the f actors wherein a customer is info launched by other Poe el in thematic rooter social factors that info lance on the customer to accept or d cline the product. In the above case study, Easiest used some of the captions like “Battle with Sassier” or “Low fares needn’t con! ” on their website. T his info launched lot of customer ‘s visit ting Easiest website. T he more customariness the website the more Easiest became e an household name.

Psychological Factor: T his f actor depends on the individual customer who is info Lune cede by motives,perception, learning, personality and attitude. When Easiest had majority of users coming to their website, they introduced trivia’s, I KC dips unquestionable on their website which info launched the customer and ma De kept the users visiting back to thesis. In 2002, Five thousand customers won 2000 E each using the Easiest website, but the company hatless over 2 million pounds f r mom the customers who visited during this period.

Personal Factors: T his f actor includes situational, life e style and demographic f actor s. Easiest entered the market as a low budget airline, which means its main target will be business customers providing customers with good quality, oaf f orderable and qua kick service. T hey successful Lully achieved tabooed motive. 2. 5 Propose new positioning for a selected product/service Easiest has started its venture in Capacity ICC market. T here is a lot of potential in No Roth America and inlaid. As Business customer in these mentioned countries are f re queen f layers and use airways a median afternoons f or short destinations.

Easiest also has sister companies such as Scarce and Systoles which it can utilize in the new marketers stabilize its hold and attract new customers. T hey could also SST art a new venture f or road transport arrive a Joint venture with road transport and r Lilly companies to of f re a complete package to both distributes and leisure custom mere. Task-3: Marketing Mix 3. 1 Explain how products are developed to sustain competitive advantage Cost Advantage: T his advantage is gained by a company when delivers similar products or services as their rivals at a lowermost.

Easiest attained this advantage by f lying to the scammed situations but at a lower cost as it is a budget airliner whimpered with other aril ones such gibberish Airways, Elf thanes and Air France. Dif f orientation Advantage: When a company provides valuated services and a better overlapping to the en users at the same price as provided by the competitors in the market. Easiest has al ways aimed at providing valued or money f or its customers punctual f lights and f I explicitly to the customers.

Easiest and Ryan heavenliest practices on their tickets b UT Easiest f lies to major European destinations whereas Ryan lands transports of s mailer cities. 3. 2 Explain how distribution is arranged to provide customer convenience T he main functions of Distribution are Info orientation (Market planning), Promotion (Sp reading ornamentation off errs about the product), Contact (Communicating with buy RSI), Matching (Adjusting of f errs to f dichotomous’ needs and wants), Negotiation, PHs cal distribution (transportation) and f enhancing.

Easiest uses a distribution channel called “Direct marketing”, as the company wants t o reduces costs avoiding resellers and distribution partners. T his approach of EAI jets has ensured that their ticket slipperier to the customers is reduced and they a Iso have a direct control over sales. T he companionableness its own customer serve 3. 3 Explain how prices are set to reflect an organization’s objectives and market condition Easiest f allows penetrating price strategy, wherein they have reduced the price tow reds the customers needs and wants.

Here leaser the price the more demand f or the product or service. Easy Jet have also reduced their costs to gain more proof its, hence lesser they spend the more proof it the eye have. 3. 4 Illustrate how promotional activity is integrated to achieve marketing objective T here are two main kinds of promotional strategy named a push strategy and pull SST ratter. Push strategy sis f arm of promotional activity wherein the company promotes the products to wholesalers entertainers. Whereas in pull strategy the company prom totes the products or services directly to the customers.

Easiest is a service industry and also believed in direct marketing uses the pull strata gay to communicated its customers. T he various f arms of communications they f o Lowed were: T he company has mentioned its website address and phone number where ever it c an. T hey have literally the address on its Boeing ass’s. Easiest also runs internet p remissions on newspapers. Its prostitution was in “T he Times” in February 1999. T he result of this preconditioned up with Easiest selling,OHO out of its 50,000 seats n the f iris day and all other sweaters sold in next 3 days.

Using disintegrates the co many was able to cut down 250 Jobs and saved money. Easiest also f allows f iris co me f reserve basis, the f allowing table gives a clear indication. T he website was alls o used as a tool instead paying the PR companies. Captions such as “T he web’s f VA reroute airline”, “Battle with Sassier”and athletes “come let’s f If’. Easiest became a h souse hold name in the United Kingdom as it was listed in an Airline T V series which was aired on T V during 1999 to 2007. 3. 5 Analyze the additional elements of the extended marketing mix

In addition to the traditional four As it is now customary to add some more As to the mix to give us Seven As. The additional As have been added because today marketing is far more customer oriented than ever before, and because the service sector of the economy has come to dominate economic activity in this country. These 3 extra As are particularly relevant to this new extended service mix. The three extra As are: Physical layout – in the days when manufacturing dominated the I-J economy the physical layout of production units such as factories was not very important to the end consumer because they never went inside the factory.

However, today consumers typically come into contact with products in retail units – and they expect a high level of presentation in modern shops – e. G. Record stores, clothes shops etc. Not only do they need to easily find their way around the store, but they also often expect a good standard or presentation. The importance of quality physical layout is important in a range of service providers, including: Students going to college or university have far higher expectations about the quality of their accommodation and learning environment than in the past.

As a result colleges and universities pay far ore attention to creating attractive learning environments, student accommodation, shops, bars and other facilities. Air passengers expect attractive and stimulating environments, such as interesting departure lounges, with activities for young children etc. Hair dressing salons are expected to provide pleasant waiting areas, with attractive reading materials, access to coffee for customers, etc. Physical layout is not only relevant to stores, which we visit, but also to the layout and structure of virtual stores, and websites.

Provision of customer service – customer service lies at the heart of modern service industries. Customers are likely to be loyal to organizations that serve them well – from the way, in which a telephone query is handled, to direct face-to-face interactions. Although the ‘have a nice day’ approach is a bit corny, it is certainly better than a couldn’t care less approach to customer relations. Call centre staff and customer interfacing personnel are the front line troops of any organization and therefore need to be thoroughly familiar with good customer relation’s practice.

Processes – associated with customer service are a number of processes involved in making marketing effective in an organization e. G. Recesses for handling customer complaints, processes for identifying customer needs and requirements, processes for handling order etc The 7 As – price, product, place, promotion, physical presence, provision of service, and processes comprise the modern marketing mix that is particularly relevant in service industry, but is also relevant to any form of business where meeting the needs of customers is given priority. Task-4: Marketing Mix in different context 4. Plan marketing mixes for two different segments in consumer markets Product As the product is the item being sold to the customer, the thing that will bring in none, its features and design need careful consideration. Whether the firm is manufacturing the product or purchasing the product for resale, they need to determine what product features will appeal to their target market. When an organization is considering introducing a product into a market, they should ask themselves the following questions: Who is the product aimed at What benefit will customers expect from it What will be its advantage over competitor products?

Or its unique selling point? How does the firm plan to Position the product within the market? The answers to these questions will help a firm design, package and add value to its products. To learn more about product strategies within the marketing mix click on the following link: Marketing Mix and Product strategies Price There are lots of different pricing strategies but every strategy must cover at least your costs unless the price is being used to attract customers to the business (loss leader pricing).

A product is only worth as much as people are prepared to pay for it. The amount your target market are prepared to pay for your products/services depends on product features and the target market’s budget. You will also need to consider competitor pricing and factors within your marketing environment. Place The Place element of the marketing place is about where the product is made, where is it stored and how is it transported to the customer.

The place for each of these things should ensure that the product gets to the right place at the right time without damage or loss. The ideal place will be- Convenient for the customer and the business Accessible for the customer if it is the place where the product is sold Low cost or free for the customer if it is the place where the product is sold Reasonable cost to he business Promotion A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market.

Promotion is any activity to raise awareness of a product or to encourage customers to purchase a product. Advertising is a form of promotion but not all promotions are advertisements. Promotional activities for consumer sales will be different to promotional activities for business to business sales. The following things will influence how a firm chooses to promote its product: Promotional campaign purpose, The budget for the promotional campaign,

Legal rules about what you can promote and how, The target market for the product, The marketing environment in which the firm operates The following link provides further information on place: Marketing Mix and Promotion Strategies Other Marketing Mix Links Service Marketing Mix: The ideal marketing strategy for a firm selling services, includes the traditional marketing mix and three additional elements: people, process and physical evidence. Click on the attached link to learn more about the ups: Service Marketing Mix E-Marketing Mix: A massive increase in internet sales has hanged the way the marketing mix is implemented by firms.

The following link will take you to an article explaining how the marketing mix can be used for online Marketing Mix and the Internet Environmental Marketing Mix: An increased focus on environmental issues, has contributed to a rise in the demand for environmentally friendly products and services. The spotlight on sustaining the environment has created new terminology such as “carbon footprint” and “offsetting”. Many organizations have adapted their marketing strategies to capitalize on the consumer appetite for Environmentally Friendly Products. 2 Illustrate differences in marketing products and services to businesses rather than consumers There are five characteristics to a service: Lack of Ownership You can not own a service and you cannot store a service like you can store a product. Services are used or hired for a period of time. For example when you buy an rare plane ticket to fly to the USA, you are buying a service which will start at the beginning of the flight and finish at the end of the flight. You cannot take the rare plane flight home with you. Intangibility You cannot hold or touch a service unlike a product.

This is because a service is something customers experience and experiences are not physical products. Inseparability Services cannot be separated from service providers. A product can be taken away from the producer but a service cannot be taken away as it involves the service provider or its representatives doing something for the customer. For example a company selling ironing services needs the company to iron the clothes for you. Perish ability Services last a specific time and cannot be stored like a product for later use.

For example an interior designer will design a property once. If you would like to redesign the house you will need to purchase the service again. Heterogeneity Firms have systems and procedures to ensure that they provide a consistent service but it is very difficult to make each service experience identical. For example two identical plane Journeys may feel different to the passengers due to circumstances beyond the airline’s control such as weather conditions or other passengers on the plane.

Just like the marketing mix of a product the service marketing mix comprises of Product, Price, Place and Promotion. However as a service is not tangible the arresting mix for a service has three additional elements: People, Process and Physical Evidence. People People are an essential ingredient in service provision; recruiting and training the right staff is required to create a competitive advantage. Customers make Judgments about service provision and delivery based on the people representing your organization.

This is because people are one of the few elements of the service that customers can see and interact with. The praise received by the volunteers (games makers) for the London 2012 Olympics and Paralytics demonstrates the powerful effect people can create during service delivery. Staff requires appropriate interpersonal skills, attitude, and service knowledge in order to deliver a quality service. In the I-J many organizations apply for the “Investors in People” Accreditation to demonstrate that they train their staff to prescribed standards and best practices.

Process This element of the marketing mix looks at the systems used to deliver the service. Imagine you walk into Burger King and order a Whopper Meal and you get it delivered within 2 minutes. What was the process that allowed you to obtain an efficient service delivery? Banks that send out Credit Cards automatically when their customer’s old one has expired again require an efficient process to identify expiry dates and renewal. An efficient service that replaces old credit cards will foster consumer loyalty and confidence in the company.

All services need to be underpinned by clearly defined and efficient processes. This will avoid confusion and promote a consistent service. In other words processes mean that everybody knows what to do and how to do it. Physical Evidence (Physical Environment) Physical evidence is about where the service is being delivered from. It is particularly relevant to retailers operating out of shops. This element of the marketing mix will distinguish a company from its competitors.

Physical evidence can be used to charge a premium price for a service and establish a positive experience. For example all hotels provide a bed to sleep on but one of the things affecting the price charged, is the condition of the room (physical evidence) holding the bed. Customers will make judgments about the organization based on the physical evidence. For example if you walk into a restaurant you expect a clean and friendly environment, if the restaurant s smelly or dirty, customers are likely to walk out. This is before they have even received the service. 4. Show how and why international marketing differs from domestic marketing International marketing enables businesses to provide benefits (in the form of products and services) to consumers around the world. International marketing activity may be tailored specifically for each country; this is because ‘needs and demands’ of customers in one country may be different from ‘needs and demands’ of customers in another country. There are a number of reasons why businesses decide o trade internationally including: Competition within the national market is becoming too intense Sales and profit are declining in national markets.

International expansion (market development) is suggested as an option to plug falling sales under Nations Matrix. International markets offer the opportunity to increase the product life cycle for products with a life cycle coming to an end in national markets. Overseas markets contain similar market segments as national markets. Easy international travel and technology are turning national brands into international brands and facilitating the move into international markets.

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