Swot Analysis
SWOT ANALYSIS Strengths * Equipped with four-wheel drive for all-weather for all-weather ability which provides the passengers with a safe and secure ride. * Handles like a sports car and is of typical BMW quality. * The acceleration is outstanding for a six cylinder vehicle and has far more superior performance compared to a four speed vehicle. * The interior and exterior styling is excellent. * Responsiveness offers the perfect counterpoint to "truck-like" handing. * Price/value relationship. * The vehicle's responsiveness to traffic on dry and wet roads is great. * The smoothness of the ride and the roomy interior makes local and long distance trips quite comfortable and provides driving enjoyment for all passengers. * BMW manufactures the safest cars in production of any class anywhere in the world. * Outstanding towing vehicle. * Active and passive safety design; engineering and the vehicles leading-edge technology go well beyond standard SUV levels * Great for outdoor activities. * Provides the driver with improved road visibility. * Elegance, sophistication, luxury, beauty, and robustness of the vehicle set it apart from any SUB in the industry. * Equipped with ten airbags for extra driver and passenger safety. Weaknesses * Very limited cargo space compared to other SUVs. * Low gas mileage for a six-cylinder vehicle. * Windshield
Investigating business
Applied Business Unit 1: Investigating Business Contents Page Introduction to Bhs...................................................page 1 Bhs aims.................................................................pages 3 - 4 Bhs objectives.........................................................pages 4 - 5 External Environmental Factors ....................................page 6 Marketing Activities..................................................page 10 In this unit I will choose and analyse a particular organisation with concern to its main aims and objectives, which I will explore. With the use of P.E.S.T.L.E analysis I will also analyse how external issues have contributed to the success of the organisation. I have chosen to analyse a clothing and homeware retailer called 'Bhs' which is also known as 'British Home Stores'. Bhs has grown from a single store in Brixton in South London to a public company in 1931 to a multinational retail company. In 1945 Bhs introduced "a policy of quality and value-for-money that continues today". They are well established as they operate hundreds of stores across high streets nationwide in the UK and also have franchises in Europe, Russia and the Middle overseas. Bhs cater for men, women and children offering a wide range of products at affordable prices. They also offer a website to enable their consumers to browse through their
marketing mix
Task 2 - Marketing plan Business name: Buzz Palace Legal status: Sole trader - A sole trader is a business that is owned by one person. The business will employ several workers but it is owned by one person. This is the most common form of business. An example of this would be a newsagent or a self employed plumber. Marketing strategy is the plan of action for any product or service, this is all based on the research that I have done to achieve my objectives. Marketing strategies are based on goals and objectives. The marketing strategy of a business is the method by which it intends to achieve its objectives. The first stage is setting marketing objectives, this is basically setting deadlines and targets to allow the company to measure the companies achievements. The second stage is specifying the core marketing strategy, this involves targeting certain markets. The third is the implementation of tactics to achieve the main strategy. All companies set themselves objectives, objectives are put together to give a business some direction into where there business is heading. It is also a way of showing success in terms of achievements and it also sets a bench mark of expected achievements and success. If a company is unable to meets its objectives within or around the time limit it is likely to be branded a failure because of its inability to meet expectations. So it is
Marketing Mix.
Tom O'Connor Cyril Rayan MKT/421 September 23, 2003 Marketing Mix Marketing mix is a term used by businesses to promote their products or services. The various elements to the marketing mix are referred to as the four P's: Product, Place, Price, and Promotion (Fastlink). These aspects are how customers learn about a company's products or services. The Product portion of the marketing mix refers to the researching of consumers' product needs and coming up with a product that has the characteristics to accommodate those needs. This is a very important element of the marketing mix because it directly involves creating products and services that satisfy consumers' needs and wants. The Place portion of the marketing mix equation has to do with making the product available when it is desired and at a convenient or proper location. The product needs to be made available in sufficient quantities to satisfy customer needs. Putting the product in the customers' hands can be the factor that makes the sale. The Price facet of the marketing mix is relative to the activities associated with establishing pricing policies and determining product prices. Price is a critical component of the marketing mix because consumers are concerned about the value obtained in an exchange. Price is also an important factor when considering the competition. The Promotion variable relates to
marketing mix
Running head: MARKETING MIX PAPER Marketing Mix Paper University of Phoenix Sustainable Customer Relationships - MBA 570 Marketing Mix Paper The 4 P's, also known as the marketing mix, is a concept created by Neil H. Borden. According to author Laura Lake, "your marketing mix is a combination of marketing tools that are used to satisfy customers and company objectives" (Lake, 2009, ¶ 1). The four variables that make up the 4 P's are Product, Price, Place (Distribution), and Promotion. This paper will further detail each element of the 4 P's and will provide a description of Caterpillar Inc., and how each element of the marketing mix impacts the development of Caterpillar's marketing strategy and tactics. Organizations must understand that creating an effective marketing mix will require experimenting and market research in order to see increased results. By using variations of the 4 P's, organizations will gain the ability to reach a magnitude of consumers within their targeted market. Furthermore, the 4 P's were designed to focus on an organization's target customers to identify the value of the product or service and to determine how well the product or service will be received. Product The first variable, Product can be defined as the products or services an organization offers to its customers. Product is concerned with creating the right product or service for
marketing mix
Running Head: Marketing Mix Marketing Mix Paper Marketing/MKT-421 Marketing Mix Paper Have you ever watched a commercial on TV and wondered how somebody created some of these crazy ideas/schemes to entice people to buy things? Make no mistake about it, it's not just some lucky person developing slogans; it's a specialized team that is highly trained to analyze customer needs and carefully develop a strategy to market their goods/services in the economy. The field of marketing is fast becoming the most effective way for businesses to improve their overall performance to compete in today's global economy. Most successful companies have learned by trial and error that catering to needs of their customers, providing quality goods/services, and providing good customer service strengthens continued sales and profits. Marketing oriented companies are also customer oriented and take into account customer needs by focusing on creating goods and services that will outshine their competition. Conducting research is crucial when attempting to identify specific requirements of both existing and potential customers. Marketers maintain open lines of communication between a company and its customers to ensure the success of any marketing method. Over time, customers become loyal and will buy again-and-again as well as provide free word-of-mouth advertising undoubtedly resulting in
Marketing Mix.
Marketing Mix is the combined elements of the product put together which will determine the success of the product. For example if the product has a very good marketing mix then that product is more likely to succeed it will do this by increasing potential customers and then converting them to actual customers. If the marketing mix is not carried out with long thought then the product may fail eg by not making many any sales and profit and this is why having the correct marketing mix is a vital component when producing and selling a product There are four main aspects when it comes to Marking mix these can be collectively known as the four P's: * Product: this can be further broken down into 3 levels which are the core layer: benefits of the product, tangible layer: the features of that product ie what it does, the augmented layer: any other services or benefits that are obtained when buying the product. * Price: One main factor of the price for the product will depend mainly on competition prices and after the product has made a successful impact on the market then the price will be more influenced by supply and demand. * Place: This is the location of where the product is presented and will then increase or decrease potential buyers. * Promotion: This gets your product noticed and if presented well it will increase the amount of potential buyers for your product.
Marketing Mix.
Marketing Mix The marketing mix principles (also known as the 4 p's.) are used by business as tools to assist them in pursuing their objectives. The marketing mix principles are controllable variables, which have to be carefully managed and must meet the needs of the defined target group. The mix is apart of the organisations planning process and consists of analysing the defined: * Product strategies * Price strategies * Place strategies * Promotion strategies. Product strategies When an organisation introduces a product into a market they must ask themselves a number of questions. . Who is the product aimed at? 2. What benefit will they expect? 3. How do they plan to position the product within the market? 4. What differential advantage will the product offer over their competitors? We must remember that Marketing is fundamentally about providing the correct bundle of benefits to the end user, hence the saying 'Marketing is not about providing products or services it is essentially about providing changing benefits to the changing needs and demands of the customer' (P.Tailor 7/00) Philip Kotler in Principles of Marketing devised a very interesting concept of benefit building with a product For a more detailed analysis please refer to Principles of Marketing by P.Kotler. Kotler suggested that a product should be viewed in three levels. Level 1: Core
Marketing plan.
Marketing plan: Executive summary: The market research has shown that there is a potential market for moulded fibre pet feeding bowls. At the moment the number of units sold by Omni -pac is approximately 1.8 million units. When putting this marketing plan in action the 1.8 million units will be increased with 1.2 million within year 2004. But we need to make some adjustments with the marketing mix for this to happen. First the price need to be put up £ 1 for the FT 25 sold to the RSPCA and £ 4 for the FT 60, this is to make some profit because the selling costs are smaller than the buying costs at the moment. Secondly the products need to be further developed, by putting thick film over the bowls to make them stronger and thicker so they are more stable and durable for moist food and not that easy to break. Thirdly as physical distribution Omni - pac has to use both their existing vans and private transportation companies. The last thing they have to do is to promote the product series through direct mail and putting in ads in magazines to reach their potential customers and thereby increase their sales. Financial summary: Within three years the series of feeding bowls are increased 50% for FT 25, 25% for FT 30 and 25% for FT 60. (These percentages are estimated from the present number of units provided form Roger Davis. See appendix 1). The following shows the
Marketing plan
Marketing Plan A Marketing Plan consists of three main factors these are: * Market Analysis * Market Research * Marketing Mix A marketing analysis is made up of several different ways of analysing the current market activity, each one is just as important as the last as they each look at different areas, for example the SWOT analysis looks at all internal issues, whereas the PEST analysis looks at all external. It is important that you have some idea of the business environment before making decisions about the new business venture. SWOT Analysis A SWOT analysis enables a business to analyse the business internally and make informed decisions on how it would be best for the company to continue. * Strengths - What internal strengths a business has, for example if a business has a strong, loyal employee base, or if their product was particularly cheap. * Weaknesses - Like any other successful business, it must have weaknesses within the business such as bad publicity, the product being particularly unhealthy or bad for the economy. * Opportunities - This is where there is opportunity for the business to expand or increase profits in some other way, possibly by introducing new machinery to cut labour costs. * Threats - this could be anything from large rival companies to critics to a local corner shop, anything that may affect the amount of customers and sales that a