P5 Explain how and why groups of customers are targeted for selected products

Task 8 P5: Explain how and why groups of customers are targeted for selected products The difference between customers, customers and buyers Customers and consumers A customer is a person who buys a product, e.g. you are a customer when you buy any product from a store for example. Whereas a consumer is a person who consumes a product bought for example you are a consumer if you eat a chocolate that has been bought. A customer can also be a consumer sometimes, for if someone buys some sweet and eats them, this person will be a consumers as well as a customer Buyers A Buyer is anyone who has the abilities to buy products or services and since customers are people who buy products, they can be called buyers unlike consumers. Importance of identifying who has influence over purchasing decisions It is really important for marketers to be able to know what customers want by identifying their behaviours because when they know what the customers want then they will be able to target them better and to satisfy customer’s needs with their products. When identifying buyers’ behaviour it is also important to know the needs of the customers because it is what helps to better identify the buyers behaviour. Targeting individuals who have the influence over the purchasing decision, for example for a charismas present for children, it is the parents who will be targeted

  • Word count: 2104
  • Level: AS and A Level
  • Subject: Business Studies
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M2 Explain the limitation of marketing research used to contribute to the development of selected organisations marketing plans

M2: Explain the limitation of marketing research used to contribute to the development of selected organisations marketing plans How PESTLE is affected by Cost Effectiveness Political Political factors can be affected by cost effectiveness in an organisation when the costs the coasts of obtaining information from the behaviour within civil governments and other group interactions such as corporate, academic and religious institutions are not sufficient. This is vital for the business because it is really important that the business obtains good information with right amount of budget. Economic An example where economic is affected by coast effective is when the budget of a business is low to obtain information about the economy. This could result in the organisation having poor quality results and information from their search and could lead to them using inaccurately plan goods and services that are not suited to the environment they operate in. This will cost the business time, money and competitiveness as they will lose out to their competitors who in possession of right information. Social Social factors can be affected with cost effectiveness if it is not used properly, for example obtaining market research about customer behaviour and attitude towards the latest trends, with a low budget can lead the organisation to misleading information about their target

  • Word count: 1022
  • Level: AS and A Level
  • Subject: Business Studies
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Unit 11 M1 Analyse the ways in which relationship marketing activities can be used to support achievement of the strategic aims and objectives of a given organisation.

M1- Analyse the ways in which relationship marketing activities can be used to support achievement of the strategic aims and objectives of a given organisation.- In this report I will be explaining the development of relationship marketing by highlighting the benefits of having a relationship between the customer and the chosen business or between two different businesses. Relationship marketing is where two businesses have a business relationship where they have good communication with each other, for example supporting the other business such as contributing to a future plan the other business has or lending money to the other business if they really need it to get out of debt or run a new project. Relationship marketing relies on respect/honesty, for instance trying to understand the other businesses point of view instead of disagreeing which can lead to an argument; it involves honoring the other businesses view point such as respecting their culture. For example if an American business want to create a partnership with a Chinese business it would be polite for them to respect each other native land and culture because it is polite to understand the other business culture before having any business related discussion because it show you have interest in creating a relationship with that business. The potential benefits of having relationship with other business can lead

  • Word count: 3262
  • Level: AS and A Level
  • Subject: Business Studies
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Research Methodology

Research Methodology (Using appropriate methods of market research) To make sure that I use appropriate methods of market research, I have planned out everything that I am going to do to find out all the information I need to sell my product successfully. I will make a questionnaire about cereal bars to ask people in my area. I will use this questionnaire to find out what people like about cereal bars and all the things that they would like to be a part of a cereal bar; This will give me an idea of what the public want. I need to make sure that all the questions in my questionnaire however, are all relevant to the information that would be useful to me, so then I'm not wasting any time. I will then make some samples of my cereal bar for the public to taste and comment on so I know if my product is tasty enough to be on the market and if it will be any competition for the existing cereal bars on the market. I will then use the internet to research into the other cereal bars that are on the market by looking at their internet websites and asking them a few questions by email or telephone about their marketing techniques. This should help me to understand more about my competition and the biscuit market that I am going to face. After, I will present all the information that I have gathered in graphs, charts etc. So that it is much easier for myself and other people to see my

  • Word count: 1354
  • Level: AS and A Level
  • Subject: Business Studies
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Relationship Marketing

By: Michaela Louise Burnett Tutor: Barry Forrester Understanding Relationship Marketing BTEC NATIONAL DIPLOMA Submission Date: June 2008 Terms of Reference * Set By: Barry Forrester * Produced by BTEC NATIONAL to help us understand the different aspects of setting up your own business, and the different aspects of relationship marketing within an organisation and how this helps achieve business strategic aims and objectives through providing excellent customer service and retaining customers. So in the future, I will have the knowledge to be able to set up my own business if I wish to and understand the importance of building good customer relationships. * Date Due In: June 2008 Procedures I produced this assignment by investigating relationship marketing within a selected business and describing how this could be applied to the organisation. I did this by exploring different loyalty methods that can be used to help attract and retain customers and how effective they were. This report is word-processed using Microsoft word and will be produced in a report format. Contents * SECTION A: RELATIONSHIP MARKETING AND CUSTOMER SERVICE. -Describing and applying relationship marketing to a selected business (P1) -Identifying and describing customer service functions (P2) -Analysing relationship marketing activities and strategies (M1) * SECTION B: CUSTOMER AND

  • Word count: 3971
  • Level: AS and A Level
  • Subject: Business Studies
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Investigating Marketing

Unit 3 - Investigating Marketing (Section A) Contents Page CONTENTS Contents 2 Introduction 3 Brief Background 6 Aims and Objectives 8 Segmentation 10 Target Market 17 Market Research (Identifying the Market) 19 Marketing Mix (The 4 P's of Marketing) 24 Evaluation 28 Conclusion 30 Appendix 31 Bibliography 32 INTRODUCTION All or most successful business/organisations carry out research when launching a new product; this is to ensure that the product is targeted for the right audience and that it does not fail to sell. Various aspects are considered when doing this e.g. the type of customer and his is also considering customers needs and wants. Once they have introduced the new product then they put various messages within their stores to attract that targeted audience. The purpose of this report or marketing objective/report is to create a unique product for Marks and Spencer's stores so it can be purchased by customers. This product should attract a niche market. This new product should be an item which customers may need or want and would like to buy. This objective will attract a wide range of customers and should be an item that is not commonly found in similar stores which are in competition, this should then theoretically improve the sales of the business. Marketing is simply a matter of understanding the customer and ensuring that a certain product

  • Word count: 6041
  • Level: AS and A Level
  • Subject: Business Studies
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investigating business

To: Mr Upal From: Alex Gur Ref: Date: 14/11/08 Report on: A04 explain the roles of both internal and external stakeholders Tesco. INTRODUCTION The organisation in which I have decided to produce a written report on is Tesco's PLC as they are proving to be the most dominating organisation within the supermarket market despite Wal-Mart taking over Safeway's. Tesco's as an organisation is classed as the leading supermarket within Britain, it is also the national leader within the food sector. It is now a global organisation as Tesco stores are available in countries such as Ireland, Asia and Central Europe. The largest Tesco store is situated in Newcastle. In 1997 Tesco's opened their first Tesco's Extra store which has been running successfully for the past eight years. I will be explaining the roles of both internal and external stakeholders in Tesco and showing how their objectives and expectations have changed over time. Stakeholder Stakeholders Tesco Plc has various kinds of stakeholders in their business who do various kinds of jobs suitable for which group there are in. Like any other Plc their stakeholders at least have a say in the business depending their role. E.g. shareholders have a bigger say than the employees who have very little say in the business Tescos Plc have the following external stakeholders in their businesses that play different roles

  • Word count: 2912
  • Level: AS and A Level
  • Subject: Business Studies
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introduction to marketing

BTEC National in Business Unit 3 Pass 2 Introduction: In this part of the assignment I am going to analyse Cadburys Fuse Bar with the promotion within the marketing mix. Marketing Mix includes five P's * Product * Price * Place * Promotion * Packaging Confectionary Consumption in the UK in among the highest in the world. Chocolate confectionary accounts for around 70% of sales value in the UK market, with sales of sweets at around 30%. These figures show that chocolate in UK is very popular snack; therefore the production of it is very important. Because people like the chocolate so much they need different tastes of the chocolate to suit different customers needs. Innovation is very important therefore it is important that old products are being updated from time to time and new products are developed to satisfy customers. By launching of Cadburys Fuse, the company has increased the number of customers and increased market share. The product was so successful, that it helped to achieve Cadburys aim to increase their market share. Product Product is what company sells in order to make money. Good product means higher sales and profit. Successful product may increase market shares and attract more customers to the business. One product could encourage customers to use other products of the business, for example if a customer likes one product he/she may be

  • Word count: 1903
  • Level: AS and A Level
  • Subject: Business Studies
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Introduction To Marketing

Introduction To Marketing For my assignment I will be focused on marketing and Cadburys Schweppes and how they use marketing research. Then for my second task I will be carrying out a market analyses tools and apply them to Cadburys Schweppes. Then for my final task I will do a power point presentation to identify and analyses the marketing strategy used by Cadburys Schweppes and make recommendations on how it could be developed. Definition of Marketing: Marketing is an important part of making sure that the products that consumers want are available. Marketing is the process of planning and carry out the conception, pricing, promotion, and distribution of ideas, goods, services, organisations, and events to create and maintain relationships that will satisfy individual and organisational objectives. Introduction to Marketing is about Principle of marketing, marketing research, marketing information and marketing strategies. Marketing Principles are the goals of marketing: Understanding what the customer wants: Organisation has to constantly look for new products and market opportunities because the market is changing so rapidly. Keeping ahead of the competition: If the competition increases that means a dramatic change on the organisation. Communicating with customers: Even the best product distributed effectively may experience poor sales if the promotional support

  • Word count: 4373
  • Level: AS and A Level
  • Subject: Business Studies
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Introduction to Marketing

Assignment 1 Task 1 Introduction to Marketing * The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. * Marketing is a societal process that is needed to discern consumers' wants; focusing on a product/service to those wants, and to mould the consumers towards the products/services. Marketing is fundamental to any businesses growth. The marketing teams (Marketers) have the task to create the consumer awareness of the products/services through marketing techniques; if a business does not pay attention to their products/services and their consumers' demographics, the business would not be able to endure longevity. Here I will present three different companies, each one in different sector and I will be talking about their aims and objectives. The companies that I choose are Boots, TFL and Cancer Research UK. Boots Boots is one of biggest companies in UK. They providing health and beauty products, cosmetics, baby products and many more. Boots are one of the best-known retail names in the UK providing health and beauty products and advice that enhance personal well being. * In modernising Boots they are focusing on three areas. Firstly, customers today demand convenience and we want to get into their shops when it suits them, find the

  • Word count: 5644
  • Level: AS and A Level
  • Subject: Business Studies
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