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Introduction to Marketing

Extracts from this document...

Introduction

Assignment 1 Task 1 Introduction to Marketing * The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. * Marketing is a societal process that is needed to discern consumers' wants; focusing on a product/service to those wants, and to mould the consumers towards the products/services. Marketing is fundamental to any businesses growth. The marketing teams (Marketers) have the task to create the consumer awareness of the products/services through marketing techniques; if a business does not pay attention to their products/services and their consumers' demographics, the business would not be able to endure longevity. Here I will present three different companies, each one in different sector and I will be talking about their aims and objectives. The companies that I choose are Boots, TFL and Cancer Research UK. Boots Boots is one of biggest companies in UK. They providing health and beauty products, cosmetics, baby products and many more. Boots are one of the best-known retail names in the UK providing health and beauty products and advice that enhance personal well being. * In modernising Boots they are focusing on three areas. Firstly, customers today demand convenience and we want to get into their shops when it suits them, find the product we want and we pay quickly. Secondly, they need to have stores in the places we want to shop. And thirdly their stores need to present the right customer offer. Making Boots more competitive is about more than just pricing. They will focus energy on 3 key areas over the coming years: expert people: differentiating offer through products only at Boots and improving value for money. Their third key objective is to make Boots a more efficient operation in order to capitalise an all the opportunities we see for driving profitable growth. Much of their focus in the short term will be on three important programmes. ...read more.

Middle

offer to the consumer * How much will cost them to make that product * If the competition has such or similar product how much they sell it * The pricing method * At the end - the actual price that they will sell the product to the customers. The companies set their prices by the quality and the ingredients that they used. You can see that usually young people, students and big families with their children are going to McDonald's, because the company provides their customers with high quality food that is also tasty at really affordable prices and satisfies the customer needs. While Pr�t-a-Manger decides what price they will sell their products at by the fact that they are selling fresh organic healthy food, because of that fact their prices are bit more expensive of these at McDonald's * Place - After both companies are well know and both are worldwide, but the difference is that McDonald's has a restaurant in every high street in every city, malls and even you can see it in the freeway with the name McDrive. McDonald's have more than 25000 restaurants worldwide. Pr�t-a-Manger is also a worldwide company but is not that big, they have around 160 stores in the world but they are choosing where to open doors for the customers. Usually they are choosing places that are easy to get to and to be in area where people prefer to buy fresh and healthy food. Both companies are having websites where they explain how they work, information about their products and history. Usually McDonald's open their doors at busy areas, to make sure that the customer will be happy to walk in the restaurant they change their interior. Before used to me yellow walls with colorful chairs and white tables, now is with light colors and the interior is more modern, so the customer will feel more relaxed. ...read more.

Conclusion

But then the PESTLE analysis is also really important because you have to know where your business is in the big picture, also what regulations and laws to keep, so the company to be successful. Task 2 - How to use analytical techniques Weaknesses: I think that the Weaknesses part in the SWOT analysis is the most important because it shows you where you are not that good at and what you have to improve to make sure that your business will succeed. * Strengths refer to the internal features of an organisation that provide a competitive advantage. * Opportunities focus on events and developments external to an organisation. The growing use and acceptance of the Internet to sell products will present some companies with the chance to increase profits by selling directly to consumers. * Threats are developments external to the organisation that could potentially damage overall performance. These threats can originate from new laws, changes in government policy, or social developments such as the trend towards healthier diets. Economics: I think that economics in PESTLE analysis is also really important but it also unpredictable. The managers and especially the owners of the companies have to be really careful, because today they might do really good profit but tomorrow if something goes wrong with the economics and especially the stock trade they might bankrupt. * Political factors affect the activity of business. Political developments are generally out of the control, but it needs to forecast and anticipate change and then react accordingly. * The social environment describes the characteristics of society. The people who live in the society and their values and beliefs. * Many technological developments affect organisation. * The legal climate constantly changes as the government introduces new law through Parliament * Environmental factors can also affect an organisation ?? ?? ?? ?? Anna Draganova BTEC National Business Unit 3 : Introduction to Marketing 1 ...read more.

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