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Transcript of MARKETING
Know how marketing techniques are used to market products in
Compare these techniques.
Evaluate the Effectiveness of the use of techniques used in marketing products in one organisation.
What is Marketing?
is the management process that identifies, anticipates and satisfies customer requirement, profitably.
The purpose of objectives is to be able to measure
the efficiency of the company. They can evaluate the performance of the company afterwards, therefrom they avoid doing the same mistakes and make room for more improvements. Also, it provides a specific direction and be able to identify step by step procedures for the business, to ensure success. In order for these objective to work, the staff must be working well together and have an agreement of doing the work with best of their ability. Motivation from the management can help to initiate movements and success to the company, because they would feel more prepared and they know that the company has a trust on them.
Business Orientation in Sports Direct
Sports Direct is market orientated because they make the products affordable and some are visually appealing; this is so they can sell as money product and earn as much money as they could a day. It is also sale orientated as it spend time on advertising on TV, posters, magazines, flyers, creating events, and many more.
But, it is not product orientated because most of its products are not high quality and in comparison to the original brand e.g.Adidas, they are more fragile.
Business Orientation in Barnardos
and this is because they aim to satisfy the wants of the people that are funding the company by providing evidence of positive changes.
-Barnardos is also
- refining and polishing donated clothing, furniture, jewelries, toys etc; branded products; they make it look presentable and appealing to the customers and sell them in a cheaper price.
-less investment on new market research
-no direct information of the product or the market
is the idea or image of a business product or service that consumers forge with, by identifying the name, logo, slogan or design of a business.
The business focuses on partners and customers rather than on the company's product.
-identify valuable customers
-to maintain and enhance relationship
-interpersonal communication (but favors the customers)
The business focuses on "single point of sales"; recruitment of customers for single sale
-maximizing sales rather than relationship with a customer
-oriented in product features
-doesn't focus on customers
-low contact with customers
-aim to seek new customers
- Mike Ashley in 1982
-it owns numerous number of
sporting brands such as Donnay,
Dunlop, Slazenger, Everlast, Kangol,
Karrimor, Lonsdale etc.
-it overtook JJB sports as UK's largest sportswear retailer
-subsequently, SP purchases JJB,
keeping the employees from JJB shops
which saved 550 jobs.
-Thomas John Barnardo
-UK's largest children's charity
-the money they earn, from its
chain of high streets and local retail
shops,directly transfer to Barnardo's
charity; they provide
local support services to the children
and their families
-network of shop such as selling vintage
dress agencies, bridal shops and furniture donation shop.
Business Studies Level 3
enables a brand image and identity to instantly have meaning for consumers and differentiate it from competitor brands.
-Market map/perceptual map
an addition of a new products under the same brand name. It establishes strong identity in a specific market - segmentation strategy.
Effectiveness of the use of marketing techniques to market products in Sports Direct
Sports direct has shown success in using marketing techniques, to generate more sales.
Evaluation of Objective Growth
An advantage of objective growth for Barnardos is that they will come across different people, which they could ask for help or offer help to things such as money donations or things that they dont use anymore that could be sold in their store for additional in come. Also, they will provide service for children and families in different countries, which is one of their marketing objectives, to serve and help children in need. But, they don't get donations and supplies of materials everyday therefore they will need to promote more and plan a strategy to effectively convey the right message that they want people to see.
However a disadvantage of growing this type of business is that there is no assurance in terms of supply of materials and also they have competitors that have already existed before them. This might confuse the customers as they might have that moment of dilemma to which one they should donate to.
-effective market research
-satisfying the customers
Why is branding Important to businesses?
Book: Business Communication companion Level 3 (John Bevan, Helen Coupland-Smith, Rob Dransfield, John Goymer and Catherine Richards)
Teacher’s class notes
A type of growth strategy that helps the business to know its product and target population is the Ansoff Matrix
Market penetration - is where the business sells its product on its existing market.
sells its line of sports wear, for both and men, in different sizes and styles and even had brand extension e.g. selling jeweleries, home wears, travel wears etc.
accept and sell secondhand goods, but also they have added other types of promotional activities e.g. sports events like marathons to attract attention from the public.
Market Development - is selling existing products/services in a new market.
sells its product in geographical locations outside the UK e.g. Greece.The price range varies , depending on what country it is, for example, the prices in the UK might be more expensive than it is in Greece; and this is because they want to match and based it is on the state of its economy, otherwise, it may not be effectively sold.
has established a new distribution channel for the people to donate their money and this is by creating a website, where it is easier and quicker to make donations. Also, they various of social media page e.g. in twitter Facebook etc. and therefore, they have extended their market by being actively social and reach out to the wider population.