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Using the case study (Stew Leonard PLC), I will explain how I think he has embraced or adopted the philosophy of the marketing principles.

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Introduction

TERMS OF REFERENCE: 1. To identify and explain the term marketing, also using the case study identify and explain how Stew Leonard has embraced or adopted the philosophy of marketing principles. 1.0 Marketing is the reconciliation between the provider and the consumer in order to satisfy the economic requirements of both parties. Marketing focuses on the satisfaction of customer needs, wants and requirements, future needs also need to be identified and anticipated. In order for a business to succeed, it has to decide what route to follow in its strategic marketing plans, as this will provide direction for activities it needs to follow. When an organisation has developed its marketing plans, it should select its own marketing mix which will include the range of strategies it will use to serve its customers. These are called the seven P's (7 P's): 1. Product 2. Price 3. Promotion 4. Place 5. Packaging 6. Positioning 7. People In order for an organization to achieve its objectives, it needs to check or revisit and use these seven P's (7P's): 1.1 Using the case study (Stew Leonard PLC), I will explain how I think he has embraced or adopted the philosophy of the marketing principles. ...read more.

Middle

1.3 Promotion: This entails various ways/methods a business uses to inform its customers about its products/services. In Stew Leonard's case, customers were mainly attracted to the store by the low prices on offer combined with the showmanship and also the marketing flair used. Stew Leonard offered customers a memorable and pleasant shopping experience at his store. He made sure that he offered his customers low prices, excellent customer services, high product quality, a festive and Disney-like atmosphere. He made his employees to dress like cartoon characters or farm animals and then they would give balloons to children as well as inform customers about various special items in the store. His slogan "the customer is always right" helped him win over customers and therefore increased sales. 1.4 Place: This is where a product/service actually is sold to a customer. In the case study, Stew Leonard's original store was strategically placed in the Norwalk; the Connecticut store attracts 100,000 shoppers a week, some from as far as Massachusetts, Rhode Island, Pennsylvania and New York. The place you display your goods is also important as seen in Stew Leonard's case. ...read more.

Conclusion

The store featured in the book, "A passion for excellence", for being one of the best stores in United States of America. 1.7 People: This involves developing a habit of thinking about people inside and outside of the business who are responsible for every element of the sales, marketing strategy and activities. It includes the ability to select, recruit, hire and retain the suitable employee with the skills and abilities to do the job. This is more important than everything else put together. In the case study, Stew Leonard was looking for a good attitude in all his potential employees. He encouraged individual employee initiatives by giving employees public recognition for their ideas. Outstanding employees are rewarded with plagues, dinners, gift certificates, and recognition in company newsletters. Managers were rewarded through profit sharing. Store walls had framed pictures of employees of the month and also team members whose suggestions had saved the store money. Around one hundred current employees at the store were graduates from the company in-house courses from Dale Carnegie. Stew Leonard did understand that only happy employees are able to look out and ensure customer satisfaction in a business. ...read more.

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