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The society should provide humans’ welfare; company should pay attentions to profits and consumers want the satisfaction. Customer satisfaction is very important. Through the satisfied customers, they can achieve the organizational goals. As long as all functions are responsible for the consumers, and they can get the customer satisfaction. Exercise: 2 Explain Britain’s micro and macro environment. The actors and forces outside marketing have an effect on building the marketing management’s abilities and the customers’ maintain successful relationships, they re included by the marketing environment.
The marketing environment has been divided into three sides -??Internal Environment, The Micromanagement and The Micromanagement. According to this, it is quite important for Britain’s micro and macro environment. The micro environment will directly affect the Britain’s immediate environment, supplies, customers, distributors and competitors are the main factors. The supplies are one of the important factors, they should be treated like partners because they can take the resources to the producers so that the manufactures can reduce goods and these can provide customer value.
Another important factor is the competitors, the competitors such as Coca-Cola and Pepsi must position their offerings against Britain’s offerings so that they can gain strategic advantage. The Britain’s improvement’s is composed of external forces. Forces like political, economic, legal and social may affect the organization but are beyond the control. In a given society, laws and government agencies, and pressure groups that limit various organizations and individuals.
The factor that can have an influence on customer purchasing power and spending patterns is economic environment. In year 2008, it saw a decline in soft drinks sales because of the economic environment-??the uneconomic downturn. So we need pay more attention on it. Exercise: 3 Explain why market research and the information gathered are important to an organization like Britain. Marketing research is an important method; it is a series of design and analysis. Britain can make decisions on their markets and both online or offline business operations by the data relevant reports.
For example, according to the survey about he customers’ wants and needs, Britain made a decision that they should produce the still drinks and it made customers feel satisfied, so it became the number one supplier in the UK. Because of identification of new markets system, companies can gather plenty of important information. This useful information can help firms like Britain to provide the right goods Just like their still drinks in the right place the I-J, and last but not least, that is at the right time.
It can also help the firms to determine the required resources. According to this information, it can decrease the companies’ skis into minimum value. Exercise: 4 Explain how Britain might collect and use market research information. Include one quantitative and one qualitative research technique in your response. During the marketing research process, it usually has four steps. The first one is to clarify and definite problem and make a study on the objectives. Then, we should gather some relevant information. After that, we can analyze the data.
At last, we can draw the conclusions and provide the report. There are two kinds of the main resources about marketing research data, they are secondary data and primary data. The first one of the data is the information that has already existed somewhere, it is speedy and inexpensive. And the second one is the information that has been collected for some special objectives, this way maybe a little expensive but more useful. In order to get the primary research, here are two different kinds of ways: qualitative and quantitative.
Qualitative research refers to collect the information which can be useful for a firm. Another way is quantitative research, this way need a plenty of the information which is about the establish statistical information and this babe use a the subject matter. An example to qualitative, Britain can take a discussion about the new kinds of beverage in group discussions. An example to quantitative, according to the surveys about the customer’s wants and needs, they may make a new plan about the drinks.
Exercise 5 Explain the process of market segmentation and targeting and the benefits of segmentation and targeting to Britain. Due to different people want different mix of benefits from products and services, the companies want more efficient and effective products and services to match customers’ unique needs. They will take a method to divide large heterogeneous markets into small markets, and this is market segmentation. The process of market segmentation and targeting can be divided into three main steps.
First of all, the companies have to identify the requirements and characteristics of the market, then, they can use the behavioral or geographic method to put the customers who have similar characteristics into the same groups, after that, the companies can take some choices about the markets as their targets. Britain selected the drink market as it’s argue because it found that consumers love still drinks and carbonates, Britain developed differential marketing strata gees and improved strategic planning. Although it might get some threats but also the opportunities. Exercise 6 Exiling marketing theory in relation to each of the ups.
Explain the factors that would affect how Britain might decide on their choice of each of these items. Answer: Marketing mix is divided into four parts, they are product, place, price and promotion. Product is anything that might be satisfied with a need or want for the market. It includes attention, acquisition, consumption. Britain’s product mix has a particular seller offers for sale, and it also pay attention on the set of all product lines. It has different kinds of drinks and it has different groups of customers. When a firm produces a new product, it can earn profits for the firm.
However, it has a limited time, after that it may be less value for the firm because of less interest to the market. And that is the product life cycle. It is very important to the market, it can improve our needs of new product, so it may have an influence on the future new reduce development. A company can try to develop a new innovation or copy a product from a competitor’s product. Place is also an important role in the marketing mix. In this role, the marketing channel is quite indispensable. The particular set of interdependent prolongations are the marketing channel.
It is involved in the process of a product or service available for consumption. By bridging the major time, place, and possession gaps, channel members can also add value. There are some different distribution channels here,such as the wholesaler and retailer. The wholesaler is the firm engaged armorial in wholesaler make all the activities be involved in selling goods and services to those buying for resale or business use. It usually sells to retailers or industrial consumers and even sells to other wholesalers. Retailer is anther distribution channel. Retailers are businesses whose sales come primarily from retailing.
While talking about retailing, it includes all activities in selling products or services to the consumers directly, and it’s not for business use. It can be done in stores and also can be done out of stores. There are many ways like telephone and dialogs can be used. In Britain, regions can be affected on their choice of distribution channel, because their costumers have a wide reach, so they need to pay attention to different regions of people who have different requirements on the drinks, and once they got enough useful information, they can select different wholesales to help them sell the products to different regions.
Another factor is the competitor-??coca-cola, the selections of the distribution channels they choose may affect Britain’s. The consumers exchange the sum of the values for the benefits of using the products r service is called price. The only element in the marketing mix is price decisions so that all the rest are costs. So, setting the right price is quite important. And firms have a lot of choices about the price decisions.
Penetration price is one of these methods, it always make a product enter into the market at a lower price in the short term, the purpose is to accelerate market growth at the expense of high margin, in order to obtain higher sales and market share, resulting in significant cost benefits, costs and prices can be lowered. Price does not mean cheap, but the value is relatively low. Price skimming is another pricing strategy, while the product is in a high price, in the early stage of the product’s life, before competitors developed the similar products, the company may recover investment as soon as possible, and achieve a considerable profit.
So, while Britain make a decision about the pricing strategy. It may be affected by some internal factors and external factors. They should consider about the costs of the drinks, and competitions like Coca-cola may have some influences on their pricing decisions. Promotion element of the marketing mix consists of advertising, public relations, arsenal selling and direct-marketing tools. It is the business of communicating with customers, and it also can build customer relationships. Advertising is one of the methods.
It is at low cost per exposure, it can reaches masses of geographically dispersed buyers, and from the advertising, the seller can repeat this message many times. While Britain choose the advertising, the seller can tell more and more customers about Britain by the advertising, then the brand of Britain can be familiar with the customers. During the buying process, personal selling is a good method cause this can build buyers’ preference, actions, convictions and while Britain choose to use this tool, it can develop customer relationships.
Exercise 7 In marketing a service, explain the importance off b c. The marketing of services should include process, people and physical environment. In the quality of service provided, process of a service are playing important roles especially in a restaurant. Process includes the procedures, mechanisms and flow of activities in a service delivery. A customer come into the restaurant and he can order something for a dinner, and the waiter provide the food for him, then he can pay the none for this dinner. This whole flow is the process.