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Understanding customer needs - marketing principles - report on pepsi

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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.

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