Marketing Concept – Britvic Essay
Question 1 Recognize three key characteristics in the marketing strategy. ‘Marketing strategy is a philosophy that an business should try to supply products and services that satisfy customer’s needs through a coordinated pair of activities that also allows the enterprise to achieve their goals’ (Dibb, 2012: 18). According to marketing principle customers must be at the centre of all the organisations activities. For that reason all departments of organisation are responsible to get customer satisfaction and later in that way company goals could be achieved.
Relating to Drucker, the aim of advertising is to produce selling unnoticed, is to know and be familiar with customer so well that the products or services fits them and markets itself. Marketing puts customers in central of all organization activities, finding out what clients wants, conference customer requires, supplying these people more efficiently and effectively and creating and maintaining profitable relationships. Adding the customer in the middle of all company’s operation permits Britvic to get one of the biggest brand name soft drink businesses in UK. Britvic supplies fresh, bottled fruit juices with source of Vitamin C. Question 2 Make clear Btitvic’s mini and macro environment.
Ambito forces of promoting environment could affect all organisations operating in industry. External marketing environment consists of six types of forces: political, economical, social, technological, environmental and legal (Dibb, 2012: 76). Individuals forces will be uncontrollable and frequently called INFESTATION or PESTEL. Generally, businesses can prepare for the unpredicted by using PESTEL analysis.
Such as a new laws of television set advertising of food and drink to children has resulted in the use of low – tv set campaigns i. e. sponsorship and superstar endorsement just like Wimbledon or British pantomimes play a crucial role in Britvic’s online marketing strategy. Micro environment factors will be factors near to a business which have a direct impact on its operations and accomplishment. These elements include rivals, customers, circulation channels, suppliers, employees, media, shareholders and the general public. Businesses cannot usually control micro environment elements but they ought to endeavour to handle them along with macro environment.
Environmental forces are dynamic although the future can be not very expected, marketers may estimate what will happen and alter their sales strategies to the new environmental instances. Britvic try to minimize their competitors simply by supplying many to 200, 000 stores across UK, possessing the licensed distributor of PepsiCo brands in country, and becoming the number two branded fizzy drinks business in britain. Question a few Explain how come market research as well as the information obtained are important to an organisation just like Britvic.
According to American Marketing Relationship ‘marketing studies the function that links consumer, client, and general public to the internet marketer through data used to recognize and determine marketing options and concerns, generate, refine, and assess marketing actions, monitor marketing performance, and improve understanding of marketing being a process’ (www.marketingpower.com). That information must be appropriate, reliable, timely, relevant and affordable. There are five standard steps of planning promoting research: locating and understanding problems or perhaps research concern, designing the research, collecting data, analyzing and interpreting studies, and credit reporting research studies (Dibb, 2012: 264).
Advertising research will help businesses like Britvic to recognize consumer’s requires, competition, industry segments and size of industry. They are also accustomed to determinate firm goals, costs strategy or perhaps reduce likelihood of putting a cool product onto the market. Question some Explain just how Britvic may collect and use researching the market information.
Britvic may gather for its goal secondary (information compiled inside or beyond the company) or perhaps primary (information gathered initial hand) data, or the two. Primary study can be categorized as both Quantitative or Qualitative. Quantitative methods are accustomed to discover something which can be assessed. They ask questions such as: how many, where, when, what.
These strategies includes: study (a approach to questioning by way of post, Internet, telephone or personal interview), observation and experimentation. Qualitative research looking for the answers to the questions why or perhaps how people feel which is very difficult, in the event not difficult, to be found out through a review or a customer survey. This data is often named ‘soft’ as it is often difficult to quantify statistically. Methods incorporate in-depth interviews or concentrate groups.
Pertaining to Britvic goal, which is to check out customers’ personal preferences, thoughts and feelings according to the new product (Tango Clear), more sufficient might be a personal interview (quantitative method) and a focus group (qualitative method). Issue 5 Make clear the process of marketplace segmentation and targeting and benefits of segmentation and focusing on to Britvic. Market segmentation is the technique of grouping customers into more compact, more similar or homogeneous segments. Is it doesn’t identification of target customer groups by which customers will be formed into groups with similar requirements and buying characteristics (Dibb, 2012: 212).
Thus market segmentation is the method by which customers with different requirements can be arranged into smaller sized, more identical segments. Among the basic strategies to consider portion is to segment the market by geography, population analysis, psychographic or socio – cultural factors. Britvic distinguishes between core brands and seed brands. Core brands are the central point from the business and include Pepsi, Robinsons, J2O, 7Up, Fruit Blast and String. Seed brands are the ones that are believed to have potential for expansion in the future including Gatorade, Versus Water, Drench.
Once sectors have been discovered, decision regarding which and exactly how many consumer groups to target can be manufactured. There are several options to consider for businesses like Britvic. The choice must be made between concentration on an individual segment with one item and a single marketing programme and offering a single product and marketing programme to a number of sections (Dibb, 2012: 215).
By launching new ‘Tango Clear’ Britvic features targeted a slightly older industry than traditionally. Business like Britvic by creating independent offers for every single segment provides customers a more sensible choice; retain buyers who might switch to competitive products and brands. Thus using market segmentation Britvic can reach customers more effectively and at a lower expense.
List of sources: American Promoting Association (2004) Definition of Advertising, available by www.marketingpower.com/aboutama/pages/definitionofmarketing.aspx (last seen on 29th 12 , 2012) Dibb Sally, Simkin Lyndon, Take great pride in William Meters., Ferrel To. C., (2012) Marketing Ideas and Strategies 6th edn, Hampshire: Cengage Learning EMEA