• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Understanding customer needs - marketing principles - report on pepsi

Extracts from this document...

Introduction

How we met the Marketing Principles As outlined previously in this report on Pepsi, the definition of marketing is as follows, Marketing is all about understanding the customer and ensuring that products and services match existing and potential customer needs. Marketing is essential to a business and without it a business cannot give its customers what they want. There are five main points to marketing and they are, * Understanding customer needs * Understanding and staying ahead of competition * Communicate with customers to satisfy expectations * Co-ordinate its market functions to achieve its' marketing aims * Be aware of marketing constraints. These points seem very obvious and basic, and yet they are all very in-depth, and very important to a business that is involved in marketing. If a company has its marketing strategy wrong, then it could result in financial hardship for the company. Understanding customer needs In order to anticipate change, Pepsi need to have an antenna that is highly sensitive to changes taking place in the buying population, for example what is happening to, * The age and structure of a population ...read more.

Middle

There are many ways to do this including, * Adverts * Direct mail * Public relations * Sales promotions * Sponsorships * Product presentations * Direct selling Good communications played a large part in my advertising campaign, by advertising on television at times when my target market said they would most likely be watching therefore communicating directly to a large majority of my target market base. The main form of communication with my customers, was through doing my primary research. I asked people the most likely times at which they watch the television, and what types of programmes they watch. From knowing this I can structure the best times to advertise on television. In knowing this I can aim particular adverts at particular people. I can aim celebrity idol adverts at younger customers, and more sophisticated adverts at older people in my target market. In doing this I can effectively communicate in the correct way appealing to all the people in my target market. Co-ordinating marketing functions to achieve marketing aims. ...read more.

Conclusion

The constraints on Pepsi were those listed in the externalities section, such as the ethics of customers, the actions of the government at those mentioned in the PEST and SWOT analysis that I carried out, looking at externalities. There are a few less internal constraints, but they are the most important ones. The most common one is that organisations cannot afford to have a big advertising campaign, and so the product goes on sale without being promoted to many people, and so the product may not do as well in the shops as was hoped. Pepsi have had this problem, they have many various types and variations of Pepsi available but they do not sell well, due to people not knowing about them, and so shops refuse to stock it, as it does not sell well. All of the previously mentioned principles of marketing, go together to make a product successful. The principles of marketing also work in conjunction with the 'Marketing Mix' It is important that the principles of marketing are understood and taken into consideration, as without looking at marketing factors, correct marketing cannot take place, and Pepsi will find themselves eventually loosing sales. Dale Hamill Year 12 Advanced Business ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Strategic Marketing Report - Virgin Trains

    Market Research System- This involves all internal factors of Virgin Trains and places them against the External from the Marketing Intelligence system like a SWOT analysis but this is continuous. Analytical Marketing System- These will use all the information from the above to discover what, how, when, why, where to do with their service.

  2. For this project I have been instructed to come up with a marketing strategy ...

    The market segment that Nokia has chosen to aim is the youth market focusing on students aimed 13-19 as market research has shown that some of the youth market are receiving large amounts of pocket money and most have no real commitments to spend it on and that means they

  1. creating a marketing proposal

    Rubicon has varieties of different flavours for it customers. The product that Rubicon's make was an exotic juice. And the new product that we are launching is peach and passion fruit sparkling twist this flavour for the people who like sparkling drinks.

  2. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    Cost leadership vs. cost leadership Cost leadership - firm attempts to produce similar products to the competition, but at a lower cost so they can sell for a lower price e.g. Tesco Differentiation - firm attempts to provide more benefits than the competition so it can justify selling its products at a higher price e.g.

  1. RELATIONSHIP MARKETING AND CUSTOMER LOYALTY

    promises and convince customers that passive counterparts on th? market to act in ? certain way, but according to th? promises, which maintains and improves th? development of relations. Th? fulfillment of th? promises that were given is just as important as ? means of achieving customer satisfaction, maintaining th?

  2. business functional areas

    Without their bank statements they will fail to produce a cash flow-forecast. Preparing monthly management accounts this is a crucial point for their meetings. This issue will always appear in all the meeting, they will discuss how well they are doing and if they should change their business plan.

  1. This report will define and explain the following marketing terms: Marketing ...

    Marketing plans how what service or product should be advertised to be the best way for the business to make a profit and keep within the budget. The marketing department is also responsible for identifying, anticipating and satisfying consumer requirements to make a profit.

  2. This report will focus on the adult palliative care provided by SAH proposing a ...

    26 - Location Resource Figure 27 - DRIPS Model Figure 28 - The Communications Mix Figure 29 - Services Marketing Triangle Figure 30 - Interactive Marketing "Enabling the Promise" Figure 31 - Cause related marketing Figure 32 - Website Re-launch outline Figure 33 - Marketing Team Re-structure Figure 34 -

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work