Jaymit patel

E1. The Marketing Mix

1A. Promotion

There are many methods I can use to promote Classic Cola. I can use above the line promotion methods, where I can use media to get through to potential and actual customers.

I can also use below the line promotion, such as personal selling.

But I think I will use above the line promotions methods as I think it will be more affective.

I will use television adverts as over 90% of homes have television sets in them.

Also I will have the choice to choose the timings of when I can advertise Classic Cola, as different advertising spaces during the day target different people.

1B. Price

I will have to chance the price of Classic Cola from the current price, which is 64p for a 2-litre bottle.

I have decided to change the price to 55p and lower as time goes.

I say this because I will make sure the production of Classic Cola will benefit from Economies of Scale, which then I can pass the benefits over to the consumers via lower prices.

1C. Place

I will also place Classic Cola in national and international stores, in order for more people to actually know and buy the product.

I say this because not everyone has seen or heard about Classic Cola, so by placing the product nationally and internationally there is more change of people taking an interest in the product, resulting in an increase of sales for Classic Cola.

1D. Production

Classic Cola is a cheap product and I so I think I should produce this product, where they’re cheap labour available.

I have decided to produce Classic Cola in Asia, as labour there is very cheap compared to the UK.

 

Marketing is the management process involved in identifying, anticipating and satisfying consumer requirements profitably.

In order to create my marketing strategy for Classic Cola, I must understand the principles of marketing. In the following paragraphs, I have summarised what each principle involves, as well as describing how I would base my marketing strategy around it. For each principle, I have given realistic examples.

2A. How Classic Cola meet customer needs

Classic Cola would be known as a market-orientated product, as a lot of research on consumers needs was done before actually producing and selling the products.

Classic cola is a J-Sainsbury’s own brand product, which can be bought by all types of consumers.

I think classic cola is for consumers who have low living standards or for consumers who have a low income.

I say this because Classic Cola face competition by Coca Cola and Pepsi, but some consumers cannot afford to buy Coca Cola and Pepsi and so have to buy the cheaper products, which is the Classic Cola.

By having Classis Cola available for consumers, the product is meeting the needs for all types of consumers.

As consumers with a higher income can buy more expensive drinks like Coca Cola and Pepsi, and people with a lower income can buy cheaper drinks like Classic Cola.

2B. Understanding and keeping ahead of competition and keeping ahead of competition is very important for all types of businesses. 

Businesses cannot afford for rivals to gain an advantage over them by offering lower prices or a better services.

For a business to be ahead of competition and successful they have to be one step ahead of their rivals. This can be done by looking at the improvement your rivals have made and further improving it yourself in your own business.

A business can keep ahead of their rivals by coming up with new products, advertising promotions, price alternations and special offers.

Finding out about competitors involves a considerable amount of research. Finding out information about competitors is a very important thing to do as this can identify difference between your businesses and also find out the companies areas of competitive advantage.

If companies continually review all aspects of their products, making sure they still meet the requirements of the customers using the 4 P's, it will help to increase the number of repeat purchases/orders. Repeat purchases and orders go towards showing how successful the product is, and how successfully it is meeting the expectations of the customers

Also it is important for a business to look at how their competitors are dealing with their customers and how they are satisfying customer needs.

In addition J-Sainsbury’s talk to customers in focus groups on topics such as service, value for money and non-foods and also accompany them around the stores to find out what they like and dislike about products, service, availability, price, range, store layout, etc.

Every month, the Customer Insights department talks to over 50,000 people in order to understand and get closer to their customer.

J-Sainsbury’s conduct what we call mystery shops where a trained auditor visits a store and measures standards such as queue length and waiting time, product availability, ease of finding management, interaction with customers at checkout and whether or not the aisles are clear.

2C. Adopting a market research approach

There are two main marketing approaches that businesses use; Product Oriented and Customer Oriented. The product-oriented approach focuses on the product and not the market. It does not take into consideration the views/opinions of the customers. The company may believe that their product is the best on the market, seeing no need for further changes or improvements. However, following the product-oriented approach can lead to the downfall of a company, particularly if they are functioning in a highly competitive and rapidly changing market. The customer-oriented approach involves a company being in a constant state of development; assessing and responding to all changes in the market, in order for them to stay ahead of their competitors. This type of company will have a greatly developed marketing strategy, acknowledging customers' needs and expectations. The main aim of this approach is to find out what customers want; what causes them to buy different products; and what the product or service means to them as a consumer. All decisions are market-led, and realising that the profitability of a product relies on meeting all the needs of the consumers. 

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I think that my marketing strategy for Classic Cola would be mainly customer oriented, looking at how I can improve the product in order to meet customer requirements and boost sales. As I will carry out market research, I can look at what the customers think of the products and then adopt and adapt my marketing approach to help meet their many different needs and expectations.

2D. Communicating effectively with customers to satisfy their expectations

An effective network of communication is essential for any form of promotional activity.

It ...

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