investigating business
Portfolio Evidence for Unit 1 Introduction . In this portfolio Evidence, I will be investigating two businesses, both based in the United Kingdom, operating in two different sectors and markets. From the research I have done, my aim will be to create a report comparing both businesses, concentrating particularly on the following areas: * aims and objectives * Activities * Location * Functional areas * Communication Methods * External influences I will look at a range of different areas of the businesses and suggest possible ways to improve them. The two businesses I will focus on are Cadbury Schweppes and Richer Sounds, both leading companies in their industry. Activities of Cadbury Schweppes . Cadbury Schweppes Plc is the world's largest confectionary and Beverages Company by sales values, operating in a vast number of countries globally. Its main brands include: Cadbury, Schweppes, Dr Pepper and many more. It operates in the manufacturing (secondary) sector and is the leading company in confectionary and beverages market. The manufacturing sector, particularly the food and beverages industry, employs over 550,000 people and has a turnover of £64 billion, accounting for 17% of the total manufacturing sector. This sector is certainly improving due to population growth and increased consumer wealth. The table below shows the number of companies and the
Introduction to Marketing Research
Introduction to Marketing Research Marketing research aims to take some of the risk out of marketing decisions by providing information that can form part or the entire basis of decision-making. It is applicable to all aspects of marketing-mix decisions and should be an integral part of the process of formulating marketing strategy. Marketing research by definition is the function that links the consumer, customer and public to the market through information- information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing researches specifies the information required to address these issues; designs the method for collecting information; manages and implements the data-collection process; analysis the result; and communicate the findings and their implications. (Source: American Market Association 1987) Divisions of Marketing Research Market research: provide information on market segmentation, brands shares, customer characteristics and motivations, competitors' brands shares. Advertising and promotion research: provide information on the most suitable method of promotion, media, and the effectiveness of the communications in achieving objectives. Product research: provides information on opportunities for new
Knowledge Management
KNOWLEDGE MANAGEMENT Abstract There is the tendency to consider Knowledge Management as yet another buzz-word. It is gaining substantial interest in many differing circles. In order to move away from a buzz-word approach (i.e. "it's just a different name for something we do already") it's important to define what exactly we mean by Knowledge Management, how it is different to Information Management, and suggest some practical approaches to managing the processes and assets of a Knowledge organisation. This paper follows the line of argument through a definition of KM, the reasons it is needed and some ways to approach the task. The What and Why of KM In order to propose a method of Knowledge Management it is important to define what we are considering Knowledge Management to be and outline its importance as we enter the 21st Century. What is it? Knowledge :~ '1.the facts, feelings or experiences known by a person or group of people 3.awareness, consciousness, or familiarity gained by experience or learning 5.specific information about a subject'. Management :~'4. the skillful or resourceful use of materials, time etc.' Management has unfrotunate connotations with firm control. It is more healthy to take the wider view of skillful or resourceful use of knowledge by all the organisations' stakeholders. Knowledge Management is therefore about stakeholders using the
Should Britain join the Euro?
Geoff Campbell 11T Should Britain join the Euro? INTRODUCTION: There are a lot of differing opinions on this subject. I will try to determine whether it makes political and economical sense for Britain to "join the Euro". I have researched into the arguments for and against, then I will explain them and make my conclusion after weighing up each of the arguments. I will research using the internet and search engines to find many differing opinions from a variety of sources. I will also visit the websites of Labouri, the Conservativesii, the Lib Demsiii and the UKIPiv to find out about their policies regarding the Euro. Advantages of joining If Britain were to join the Euro, it would affect many Industries, Businesses and Economies in different ways, whether they are in Britain or not. One example of this is when Businesses' are heavily affected by transaction costsv - they are involved in lots of exporting and importing. For example take a company, which imports its goods. Before they can import these goods they must first buy them, in this case they buy raw materials from France they must first change their Pounds into Euros. This involves a transaction cost - the company must pay another company a commission charge as a percentage of the money exchanged. This loses the Business money and can add up, especially when done with large sums of money. Thus if Britain joined
Should the Uk Join the Euro?
SHOULD THE UK JOIN THE EURO? NIKKI ACTON 13JLB With the change over to the Euro notes and coins now complete across the "Euro-zone", twelve countries that have adopted the Euro as their currency, the debate over whether to adopt the single currency in Britain continues. There will be those who argue that the introduction of the single currency is merely the next logical step in the development of a truly single market, and that by joining, Britain would gain a voice in what could eventually become the world's most powerful economic zone. Others believe that a successful common market is not dependant on the adoption of a single currency, which they see as merely another irrevocable step towards the political union of Europe. But the main focus of the debate centres on the parameters of macro economic objectives. To start, I will discuss the arguments against the UK joining the euro The UK government has 3 major macro economic objectives and 2 on a slightly smaller scale: i) a high, but stable rate of economic growth within the UK's potential ii) high, but stable employment iii) low inflation iv) balance of payments equilibrium and v) fair and equal distribution of income. In order to balance these objectives, governments use policies to control various aspects of the economy, however, in the analysis that follows, it will be shown that the most important of these
Marketing Mix
Principles of Marketing Coursework: The Marketing Mix Sumeera Noreen 07815383 The marketing mix, or the 4Ps as it is most commonly known as, is a "set of controllable tactical marketing tools...that the firm blends to produce the response it wants in the target market." (Kotler et al, 1994, p.48) It consists of four major elements: product, price, promotion and place, which are used in order to satisfy the customers in the marketplace. Getting the mix of the four elements right is crucial in order to successfully market a product. The concept of the marketing mix was first introduced by Borden in 1965, which originally included twelve variables of marketing. McCarthy reduced the model to four elements, that is the 4Ps. These four variables are interrelated; decisions in one area will affect decisions in another. "Marketing mix variables are often viewed as controllable variables because they can be changed. However, there are limits to how much these variables can be altered." (Dibb et al, 1994, p.17) Product refers to any type of good or service that the company wants to sell. The success or failure of the product depends on the product's features and design, branding and packaging. The product is the most important element of the marketing mix because if the product is not good enough and fails to satisfy the needs of the customers, then no amount of promotion,
Marketing mix
Marketing mix Product The product is the most important aspect of the marketing mix. The product can be a service or even a holiday destination. Products have both tangible and intangible benefits. Tangible benefits include benefits, which can be measured such as the top speed of a car. Intangible benefits are benefits that cannot be measured such as the enjoyment the customer will get from the product. It is important that the product is changed as necessary to bring it up to date and prevent it from being overtaken by competitors. I'm going to selling a travel service using air travel. It will be a low cost airline that will fly from a variety of different airports in the UK notably in the north where no low cost airline is available, and to a range of different European destinations. I will be offering customers the lowest prices as well as complete customer satisfaction. Hopefully I will be able to compete with the current cutthroat competition in today's airline industry. The research I acquired from various sources helped me to learn hat customers actually want which is basically hassle-free cheap and quick travel. I also learnt essential tips about starting up an airline, for example the biggest mistake airlines could make when starting an airline service is over ordering too many aircrafts. I will aim to position my product in the minds of the customers by
Marketing Mix
Marketing Mix Marketing Mix: Marketing mix is simply a technique used to promote a product or a service, which can consist of many factors such as advertising, pricing, packaging, labelling, branding and boosting the product/service provided. Marketing mix is applied to most, if not all products and services provided by any company in the private sector, with the aim of increasing sales or demands for a specific product/service. Companies use marketing mix techniques to increase sales on certain products. E.g. they may use "Premium Pricing" on certain products and services. This means that the product or service will have a very high price, however, it will be worth it as the product or service may be unique, luxurious or may have a special designing and etc. Premium pricing is always aimed at higher class people who would be able to afford such products services, and any high street stores would also be located in a posh area. Marks & Spencer is a typical example of a company which uses premium pricing, as their products are considerably higher than other average or unpopular brands. However the quality of their products is also higher, and although the prices more expensive the company still manages to make profits. "Penetration Pricing" is also another technique which helps companies increase sales. This is when a product or service is new or is not very popular,
Marketing Plan
Marketing Plan for 'Zen's Cholesterol Free Chips.' Product The product is a cholesterol free chips which is made especially in the Zen potato field in India. In ensures the best possible quality as it is made in the most natural way as possible as it has only a minimal use toxic fertilizers unlike any other potato farm in the world. This ensures a premium quality raw material to produce the finest chips. In the production process, it is fried in fat free vegetable oil which contains very low cholesterol. The apt choice of raw materials and the hygienic production process makes Zen's Potato chips about 94.98% cholesterol free which also appears to be its Unique Selling Point (USP). The chips will look like any other potato chips and its packaging will be in a cylindrical cardboard box with a very thin sheet of aluminum which will also make Zen's potato chips environmental friendly and easy to recycle. The target customers will probably be people who are health conscious, likely to include teenagers and adults however with its tempting taste it might even appeal to children. The target audience might include working people who have a very hectic lifestyle and yet prefer to be in good physical shape by eating low cholesterol food. The target audience may also include people who suffer from relatively high cholesterol and heart diseases and are in search for something with
Marketing planning.
Intro To help make marketing decisions a business must plan effectively. MARKETING PLANNING is the process by which future marketing activity are systamaticaly planned. Not all businesses have a marketing plan. Some smaller businesses, for example, may make marketing decisions on a short term basis or in response to changing conditions. For example, the Rank Group plc will have an overall corporate strategy. This will influence the plans of its leisure division. Marketing plan A business can only plan where it is going if it knows where it is starting from. Finding out where a business is at the moment involves a MARKETING AUDIT. This analyses the internal and external factors which affect a business's performance. SWOT strengths, weaknesses, opportunities and threats. The objectives provide goals and targets for the business to aim at. They may include such goals as a growth in sales or gaining a certain market share in future. How will a business achieve its objectives? A business must decide how to get where it wants to go. It will have marketing strategies which it will use to achieve its objectives. For example, if it wishes to increase its market share at the expense of a market leader then it may use market challenger strategies. So a company wishing to gain a 10 per cent increase in market share must make sure that it has the the right product, at the right
