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Describe how marketing techniques are used to market products in Tesco and SONY

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Introduction

P1: Describe how marketing techniques are used to market products in two different organisations 1. Introduction In this task, I will describe how marketing techniques are used in two different organisations; Tesco and SONY 1. Marketing Definition ??Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably?? The Chartered Institute of Marketing ??The management process through which goods and services move from concept to the customer?? http://www.businessdictionary.com Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large American Marketing Association Marketing is a functional department in an organisation, their roles are to find customer?s needs and accomplish them and they?re also charge to advertise goods and products in the organisation. 1. Marketing Concepts Selling The first concept?s selling, selling is very important in business as it help organisation to achieve their goals. Selling concepts is based on the fact ; if products or service is available but no one will buy consume them , then organisation need to use other methods to persuade clients to buy them. Selling concepts can be called advetissement or promotion , buisness will use aggressive methods to attract interest of potential customers. ...read more.

Middle

Recently, they decide to compete with foreign supermarket. Tesco has opened supermarket in Asia, France, Slovakia, Thailand, Japan, China etc. Sony was founded in 1946, it was a small business and in 1960, they expanded the organisation in United States; a new market. Diversification The fourth Ansoff strategy?s Diversification. Diversification happen when a business to change company?s affair completely; they introduce a new product to a new market; companies change completely their aims and objectives. This technique is rarely used compare to other three strategies. Diversification is really hard; business will have to move a new market and they will also have to spend more money. Many businesses did try diversification; Virgin group diversified from music production to travel and phones, and Walt Disney moved from movie studio production to Attraction Park. Sony corporation is electronic business, in 2001 they diversified to financial service (Sony Financial Service; they offer service such as Bank, insurance and more. Tesco has not yet used this method, but they are thinking about diversification. 1. Branding Branding is a marketing technique; nearly all business in the world uses this method. Branding means giving value to a product, a service or company. When a business use a branding methods; they want to create an identity, they customers or peoples to recognize their product straight away, they want to build a strong relationship with peoples. ...read more.

Conclusion

Companies using these techniques, use methods which will benefits customers. This Techniques will benefits companies hugely; they will from repeat business (Repeat business is when a customer returns or comes back to a business. Repeat businesses happen when a customer feels that they have been well treated and well served by the business), Customers coming back to business means more sales so more profit. Sony Corporation use Sony reward as relationship marketing methods to retain customers, when you buy SONY product, you will get more reduction on the next purchase. Tesco?s the most successful retailer in UK, Tesco use relationship marketing; methods used by Tesco are; Club card when customers buy something , they will have more points , more you buy more you get points and those points reduce prices of certain product ; clients will have to come back. 1. Survival Strategies Survival Strategies can also be called Continuance plans or plan B. they are strategies set up by a business in case of unexpected problems. In business world, we never know what might happen; natural disasters, economic crises or disasters. Business must be ready to confront them this why survival strategies is important. Tesco PLC has survival strategies; in case recession; Tesco will have to dismiss some employees and cut unnecessary expenditure. SONY survival strategies are similar to Tesco in case recession; they will cut jobs and costs. 1. ...read more.

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