I am a Marketing Director; my marketing agency has gained two new clients, Alton Towers and Cadburys. This means that I will have two new marketing assistants which will both help each company market their products and make the individual businesses as successful as you can. I will include a new training pack which will give information on the marketing techniques used by both these companies, this will include how they already market their products and services, as well as what techniques they use when doing so with different types of products available. What we need to know is that a market is a group of potential customers who may buy your product or service, a strategy is an overall plan of a business, one of the most common objectives of a business is growth, this could be done by using promotional offers on products such as BOGOF (Buy One Get One Free), changing products and developing customers, opening new stores, creating a new product, etcetera.
The three main marketing concepts in a business are production, marketing-orientated and sales. All these individual marketing techniques are used in different instances, which would benefit the business more. You will have to decide on what you think is the best concept to do when you work with your businesses.
Production marketing is when the business focuses on creating economies for scale in production and distribution; this basically means that they make a mass amount of a product which they hope to sell to their existing market. This then gets sold for a cheaper price due to a higher order being made off the supplier. This kind of technique would best be used for a company such as Cadburys or most other food/drink based companies, as their products are wanted by a large market. Cadburys aims are probably to sell the highest quantity of products at the cheapest possible price for the entire public, as they also aim to be the most popular chocolate based company globally.
Marketing-orientated marketing is when the business does some research on what the market actually wants, and assesses what they prefer, rather than making a big bulk of a certain item and hoping that your customers would like it. This takes some time to do as the marketing department of the business would have to ask their customers what they would like, and what they wouldn’t. Techniques such as questionnaires, survey’s, etc. are used in this process. The marketing concept is the better option out of the three as it suits everybody’s needs more efficiently.
Finally, the sales concept is the ‘hard to sell’ style of sales, this is where a company makes expensive goods, e.g. double glazing windows, and do specific sales techniques to try and persuade people to buy it, techniques such as door-to-door salesmen, cold calling via phone, or other techniques which involve a big amount of persuasion.
Marketing and corporate objectives
Marketing objectives are goal/goals that were made by the business to achieve within a given time frame. One example of a marketing objective is to increase popularity and awareness of a certain product that the business are promoting, this could be anything from a smart phone to a chocolate bar, by using certain promotional techniques and persuading techniques, decided on by the marketing department within the business. This further links in with corporate objectives, which are goals, set by the whole company with a time frame, which are set to improve the business and assess it at the same time. These goals are often very realistic, e.g. an owner of 5 grocery stores might have an objective to open another new store within 6 months.
Ansoff’s Matrix is a tool in business that is used to help them make decisions when coming up with a marketing strategy. This tool helps businesses develop new ideas, products or combinations which may well help them in the future when deciding on making a new product for their market; this is…