people in business
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A02/A03 Marketing Marketing is about understanding customer and ensuring that products and services match existing and potential customer needs. Also marketing is an approach that puts the customer at the centre of things and is also about looking at ways of influencing the behaviour of customers. Marketing is very essential to the success of any business. Its aim is to enable business to meet there needs of their customers, whether it is for profit or not. If the business marking is successful then you can ensure that the business has a good understanding of the customer needs, they can keep ahead of the competition, working effectively with customers, co-ordinate its functions to achieve marketing aims and be aware of constraints on marketing activities. Marketing research Market research is the process of gathering information about your customers, competitors and market trends. Before undertaking market research, a business needs to consider what type of research is likely to provide the most cost-effective means of producing the answer requires. The business researches any new products that are coming into the business by visiting suppliers, by going to stores near by to check if they have any new products and by speaking to sales reps. They done this by looking for popular products and choosing them. Which should guarantee sales and improve there profits. From this the customers will spend more money and think that the business has better quality products. This will help create customer loyalty and repeat purchases. For example, the business has brought a new product which was offered to them by their suppliers. This product has made a lot of profit because it is meeting needs of customer. After choosing the products that the business wants they promote them through leaflets and point of sales displays to draw attention. For example, for PayPoint the business has Point of Sales leaflets and posters. All of theses will help improve the aim of improving reputation and will show a positive image and will encourage sales.
This will have a positive and a negative affect on the business because if the customer takes this leaflet then they might read it and might stop smoking. This will have a negative affect on the business because the business will not be making money. On the other hand it will have a positive affect to customer because they will stop smoking. refer to appendix 10 for the leaflet This will help the aims and objectives because the business will be selling products by promoting them and making larger incomes. Also this will meet the needs of customer. For example, if a customer around the area receives a leaflet in the post saying they have got PayPoint and that customer has been going to another store that is a long way a way. Then this would meet the needs o the customer because he will only have to travel around the corner to pay his/her bills. Refer to appendix 8 for point of sales leaflets that the business provides. Place Enterprise skills Enterprise skills are skills and personal characteristices possessed by successful business people or entrepreneurs. There are many ranges of enterprise skills whuch enterprising people possess. Here are examples of enterprise skills: - self confidence and motivation - motivation - risk taking - ability to innovte - Indentifying and exploiting market opportunities. Here is how the qualities and abilities affect my business: * Self confidence and motivation - in khera doaba stores all of the enterprising people are clear about their goals. They push themseleves to achieve their goals and don't need other people to make them believe in their own abilitys. this hepls the business because they don't need to waste time with the employee. If they know they can achieve there goals on there own then they don't need to hepl them or push them. This will help meet the abjective of selling more products becuase if a employee has a goal of selling up to 100 cans of beer then he/she will push themshelve as much as they can to meet this aim.
Here is two of the employees working together to stack the shelves Observing On the 17th of October, I went to Khera Doaba stores and spent 2 hours there observing the store. As I was there I found out that the company worked really well as a team, better then one person doing it on there own. As I was writing some notes down there was a customer not happy and came back to argue with the manager. The problem was that her £10 top up did not go onto her phone, so she came in asking what the problem was. As a team the two employees told her that there was a fault at the orange place. They sorted this problem out by telling her that if the money is not on by the next day then she can have her money back, the customer was happy with this and went. Also in my time at the store I found out that the employees were communicating well with the customers and they were working very hard to complete there daily goals. As I was observing I noticed that all the customers were greeted with a happy hello and a thankful good bye. Advertising The little sheet attached to the pages is the leaflet promoting PayPal and Payzone. They also advertise by having posters in the store and having signs out side. They have PayPoint and Payzone advertisements all over the store. Advertising this helps bring customers into the store. By advertising the signs outside a customer could drive past the store and look at the signs and think "they got PayPoint lets pay out bills". Also to help bring customers in they have posters, which are displayed on the doors and windows. Here are some pictures: Refer to appendixes for more posters. To advertise phone cards the business has poster in the door, were prices of all phone cards are displayed and how long you can talk for in what country. Please refer to appendix for posters. ?? ?? ?? ?? Unit 1 - Investigating Business Hardeep Khera A02/A03
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