I am going to explain about the main objective of the Library’s and the influence over the marketing objectives. The library’s in Manchester’s main objective is to get younger age groups to come to the library. They offer kids fun over the summer holidays, homework clubs and audio books. A marketing objective for the Manchester library is that they aim to open a library in Beswick by the 13th September.
Marketing is a way to promote a business or a product using various different ways. For example an advert or a poster. There are three different concepts. The first concept is marketing concept; this concept keeps the customer’s views involed with research. Most business’s use surveys or questionnaires. The second concept is the production concept is concentrated on the more products you sell the cost of production will fall. This concept is very demand driven by availability. The last concept is the sales concept. This involves large products that are created to sell on to potential customers. Sales people will use aggressive selling techniques to convince these customers to purchase a product. Mc Donald’s is a production concept. This is because they keep the price low so lots of people eat there. The Manchester library has neither concept because they do not sell anything.
In Marketing, Third European Edition, Concepts + Strategies by Dibb Simkin and Pride Ferrell it gives its own definition of marketing. The definition is ‘Individual and organisational activities that facilitate and expedite satisfying exchange in relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas’.
Each business has a growth strategy. There are four growth strategies’, they are market penetration, market development, product development and diversification. These strategies were thought up by Igor Ansoff in 1957. Market penetration is when a business try’s to promote a business further in the same market. They may try to offer existing customers a deal or reduce the price of the product. Market development is when a business try’s to sell an existing product in a new market. For example a market varying different age groups. Like have a kid’s size version of the product or a family size.
Product development is creating a new product but using the existing market in the company. Like updating the product and making it more advanced but it is still aimed at the existing customers. There are two types of diversification; they are related diversification and unrelated diversification. Related diversification is when the business enters a new market but still stay in the same industry. Unrelated diversification is when a business enters a new market and a new industry.
Mc Donald’s growth strategy is market penetration. I think this because they promote the existing products through advertisement. They also hand out offers in certain areas. Though they do sometimes bring out new products and promote them. When they do this its product development. Mc Donald’s main growth strategy is market penetration which is the same as the Manchester library. They have event going on which promotes the library and gets more customers to come. However this is there only growth strategy.
Each business has its own survival strategies that they use. They just do what is best for the business and try to keep the business profitable. It can be from pulling out of unprofitable markets to changing suppliers. The Manchester library tries to cut any unnecessary expenses. For example only buying new books when needed and spacing out events to promote the business. The way that Mc Donald’s uses survival techniques are pulling out of less profitable markets. If they think that a certain product is not doing well in most of the areas a Mc Donald’s is stationed at they will cut it.
Branding is really useful to have on all products. This is because it makes the brand look better and the business seem more important. Brands seem official and it puts an influence onto the customer. Brands are useful because they tend to stick in a customers mind more than the brand name. Having a brand gives a competitive advantage because it gives the business an identity, so having a strong image helps.
The Manchester library uses the Manchester council’s logo. This is because the Manchester council are in charge of the library. They put the logo on the books and the cards that people use to take books out. Mc Donald’s logo is a big yellow M. The M is a really useful branding as everyone remembers it, this helps out the business. If they remember the logo they are sure to remember the business. Another branding technique that Mc Donald use’s is the Mc in front of certain product’s, for example Mc Flurry.
Relationship marketing is when a business is focusing on long term customers. If a customer likes something they will come again or if they have a card to the store where they get points if they shop there again. They could also use email marketing and SMS marketing. The Manchester library has a card to take books out and with that card you can reserve books online. With a card customers get more out of the trip to the library. Also the library sends an email when the book is back at the library. Mc Donald’s hands out vouchers which will get more customers to come. If they like the meal they will come back again. This will get a repeat purchase.
