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How the 4P's will influence the marketing of an establishment.

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Introduction

How the 4P's will influence the marketing of an establishment The Marketing mix is concerned with four variables: * Product * Place * Promotion * Price An appropriate combination of these four variables will help to influence demand. The problem facing small businesses is that they sometimes do not feel able to sufficiently control each of the four variables in order to influence demand as much as they would like to. Product This is what can be offered to a market for attention, acquisition, use or consumption. Strategies determine the benefits that customers will secure from their purchase. These strategies can be categorized into two headings, product growth strategy and competitive product strategy. PRODUCT GROWTH STRATEGY Normally intended at producing a better or different product to increase the establishment's opportunities for increased market potential, by attracting either a new or different customer. The corporate objective of this strategy is to either improve sales figures or to achieve greater profit contributions. COMPETITIVE PRODUCT STRATEGY this aims to retain current customers by off setting activity with either a different or improved product. Place The place is where the final exchange occurs between seller and customer. Decisions have to be made about distribution channels and whether or not these enhance the products image, the wrong distribution channel can have a market effect upon the perception of quality, therefore, the goods have to be in the right place at the right time. ...read more.

Middle

If planning permission is not sought prior to work commencing, an enforcement notice will be served requesting that the developer return the building to its original condition. Where the premises include listed buildings or are situated in a conservation area, there is a separate system of control in place. This control system imposed by the Planning Act 1990 states that advice must be sought from a solicitor before any demolition or alteration commences. Change of use If the business premises bought were to be converted say from a factory to a restaurant even if the alterations are only internal then planning permission is required due to a change of use. Where a change of use occurs the local planning authority is concerned with the intended use to which the premises are to be put, in order that the character of the locality may be maintained in accordance with other development schemes. Before the planning permission is required the change of use must be a material change. J Hodgson gave clear suggestions of the way in which the judiciary approach the issue of use and change of use from one class to another * Arrive at an actual description of the actual use * See as a matter of description, whether that description fits into a use class * See whether the ...read more.

Conclusion

The sole trader must display their name and address prominently at the business premises and at any place customers and suppliers have access. The means of controlling the success of the business It is imperative for the owner of a small business to retain complete control over the business in order for it to thrive. They need to make certain there are adequate funds to cover overheads until the business breaks even and starts to run in a profit. Selection of the correct staff to suit the business is vital and the qualities they posess should include, reliability, honesty and hardworking with a positive attitude in helping the business to ducceed Retaining good members of staff and encouraging good morale. They must guarantee customer satisfaction. Reputation will spread by word of mouth therefore it is important to make first impressions last. Why such a business could fail There are several reasons as to why this particular business enterprise could fail this includes: * Over estimating sales * Underestimating how long it takes to achieve sales * Underestimating costs * Failing to control costs ruthlessly * Losing control over cash (too much stock, allowing to long a credit period) * Failing to identify the market due to inadequate research Sadie Penniston HND Hospitality Management Small Business Assignment 2 Ian Gregson 25/04/07 1 ...read more.

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