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I need to produce a marketing strategy for a new or existing product. I have chosen Centrica/British Gas PLC and I will produce a marketing strategy for its main products: gas and electricity.

Extracts from this document...

Introduction

INTRODUCTION I need to produce a marketing strategy for a new or existing product. I have chosen Centrica/British Gas PLC and I will produce a marketing strategy for its main products: gas and electricity. The marketing strategy will include evidence and information about: 1. How the strategy is based on the principles of marketing. 2. How I used sources of primary and secondary marketing information. 3. How I analysed the impact of the external environment on my marketing decision. 4. How I analysed the marketing context and decided on an appropriate strategy. 5. How I developed a coherent mix of strategies to meet consumer needs. 6. An evaluation of the reliability of the differing marketing models used. "Marketing is 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 objectives". This definition stresses the importance of beneficial exchanges that satisfy objectives of both those who buy and those who sell goods and services. The purpose and objective of marketing are; marketing seeks (1) to assess the needs and wants of prospective customer and (2) to satisfy them. The key to achieving the two objectives is the idea of exchange or the trading of things of value between buyer and seller. Their Brand Centrica/British Gas has changed a lot from the old state owned monopoly, which was privatised in 1986. Over the years, they have established a reputation for doing more than simply supplying gas and related services and putting the needs of their customers first. Their brand is as important to them as it is to their customers. It is valued not only for what it offers, but for the way in which they offer it: There are four key words that summarise the attributes that customers most value in their dealings with British Gas. They are chosen to define clearly and accurately what lies at the heart of the brand. ...read more.

Middle

Below the line advertising - direct mail, telephone calls, face to face contact, Internet, literature enclosed with bills - is used largely to deliver rational propositions which are relevant to individuals or segmented groups within the total customer base. British Gas runs advertising campaigns to ensure the value of the brand is optimised, and to promote new products and services available to all their customers. Before any advertisements appear they have to be cleared by the relevant external advertising authority, to ensure they are legal, decent and honest. The company uses different methods for the customers to pay their bills in order to attract them: * Advanced Payment: customers who pay for a year's gas in, save around 15% against late payment by cash/cheque. * Direct Debit: customers who pay by monthly direct debit, save on average 13% against late payment by cash/cheque. * Prompt payment: customers who pay their quarterly gas bill within 10 days of the bill issue date save around 10% against late payment by cash/cheque. * Cash Cheque: customers can choose to pay quarterly but they do not receive a discount if the bill is not paid promptly. * Prepayment: customers purchase credit in advance. This form of payment usually suits customers wanting to pay for small amount of gas but at frequent intervals. Deregulation of the UK Domestic Energy Market Between April 1996 and May 1998, the British domestic gas market was opened up to competition. Between September 1998 and June 1999 the British domestic electricity market was opened up to competition. Between September 1998 and June 1999 the British domestic electricity market was opened up to competition. This means 24 million homes can now choose their gas and electricity supplier Britain became the first country in the world where domestic consumers have the freedom to choose their energy supplier The opening up to competition means householders can buy their gas and electricity from any licensed supplier rather than just from their local company or what was the incumbent supplier. ...read more.

Conclusion

The low amount of (6%) that were thinking of changing the service was based on the people's attitudes of not bothering to change the service as it would take a certain amount of time to stop the account with Centrica/British Gas and begin with another one. Conclusion Centrica/British Gas could improve its competitiveness thus continuing to lead the market of energy supply if they choose to consider similar suggestions to those expressed above. Centrica/British Gas New Marketing strategy Questionnaire Centrica/British Gas is doing a research regarding their goods and services. They would appreciate if you could spend a few minutes filling in this questionnaire. 1. Are you a British Gas customer? Yes No 2. Which age group do you belong to? 18 - 20 41 - 50 71 - 80 21 - 30 51 - 60 80+ 31 - 40 61 - 70 3. Where did you hear of British Gas? TV Newspaper Friend Radio Leaflet Magazine Internet 4. Are you aware of the services that Centrica/British Gas provides? Yes No 5. Do you get supplied from British Gas with: Gas Electricity 6. Would you prefer to be supplied with both services from thair company? Yes No 7. Are you aware that if you get both services from their company you save more? Yes No 8. Are you kept informed by the company of new changes in their services and products? Yes No 9. Do you think that the price of gas and electricity is reasonable? Yes No 10. What method of payment do you use? Advanced Payment Cash/Cheque Direct Debit Prepayment Prompt Payment 11. Are you aware of the amount their payment options can save you? Yes No 12. Do you pay for your gas by? Key meter Account 13. Is the electricity paid for by? Electricity Card Key meter Account 14. Are you satisfied with their customer services? Yes No 15. Are you thinking of continuing to get supplied with gas and electricity by Centrica/British Gas? Yes No 3 Adelina Krasniqi ...read more.

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