Unit 2 Marketing Principles Assignment - Perfetto Juice Company
In regard to the Perfetto Juice Company, based on marketing concepts, the consumer is considered as the main characteristic of the Perfetto Juice Company which emphasises that all the efforts is concentrated on the consumer’s requirement scenario. The Perfetto Juice Company is dependent on the market scenario which uses effort in evaluating the consumer’s needs and urges, and then implies research supported by marketing which is supported by the evaluation of the market concentrating on the development of the beverage quality. After the consumer takes the beverage, a re-evaluation is performed to analyse the need off the consumer and the consumer’s assessment about the beverage and if there is any requirement for improvement of the beverage quality. In accord with the highly competitive scenario of the beverage market, appropriate evaluation of the market and development of the beverage quality is a never ending scenario for the Perfetto Juice Company which concentrates on the scenario of marketing point of reference.
(b) Evaluate the benefits and costs of marketing orientation for Perfetto Juice Company.
The Perfetto Juice Company being a consumer based company has certain benefits and costs of marketing orientation that will be discussed briefly.
- Product Benefits – Perfetto Juice Company makes the consumers feel satisfied by providing them with products of good quality which assists the company to grow its sales volume which assists in profit-making for Perfetto Juice Company.
- Service Benefits – By the development in the relationship between the supplier and the consumer it assists in extended transaction method and also helps in promoting the same. The Perfetto Juice Company also has a very good network of distribution that really helps the company in its steady growth process.
- Image Benefits – A better marketing ability as well as providing better quality of product is an essential approach for the creation of a positive image for Perfetto Juice Company in the United Kingdom. The company also tries to keep the staffs satisfied so that they could build a positive image inside the company as well. The company is also eyeing the global market to create a brand that will become internationally famous.
- Relationship Benefits – Perfetto Juice Company has implemented ways to attract consumers and make them loyal towards the brand in the United Kingdom by setting the connections between the consumer and the company.
- Money, time and energy cost – The Perfetto Juice Company tries to accrue income as well as sustain costs by giving assistances for development. The company should take into consideration an important aspect which is ensure that there should not be any misuse of money, time as well as endeavour. Perfetto Juice Company has to figure out the taste and preference of their consumers, take their valuable feedback and do the necessary changes in the product in regard to their liking. This is the price as well as time needed for doing customer research. Moreover, Perfetto juice Company also uses time as well as money for the recruitment of skilled employees. Two significant aspects that Perfetto Juice Company is required to have are consumer research and staff recruitment. The bottom line for doing all this is to have more satisfied consumers who after getting satisfied with the product will recommend it to others as well.
- Psychological cost – When the consumer gets to make the final decision in the buying aspect of the product depending on his wide range of product knowledge, prices and elaborate composition of the beverage then if needed, Perfetto Juice Company may reduce the value of the product. (Lancaster, 2010) (Kokemuller, 2015)
(a) Assess the macro and micro environmental factors which influence marketing decisions for Perfetto Juice.
The successful endeavour of Perfetto Juice Company is dependent on the internal and external aspects of the beverage company, and by concentrating on the research depending on these circumstances the Perfetto Juice Company can be at a better situation. A better beverage company will evaluate the already available scenario and in accord with that assess the adjustments that are needed to be made in regard of which Perfetto Juice Company can be at a advantageous stage in comparison to its competitors in the environment where it is present. The macro and micro environmental factors which persuades the marketing decisions for Perfetto juice are given below,
Macro Environment: - The external scenario that are not in the control of Perfetto Juice Company and the attributes which helps Perfetto Juice Company to administer the macro environment in the scenario that is the best possibility to have more consumers and as a result make the most of the profitability by the Perfetto Juice Company.
Micro Environment: - The internal scenario that are in the opportunity of control of the Perfetto Juice Company and those that the Perfetto Juice Company can use for having more consumers to taste the beverage and as a result make profit for Perfetto Juice Company.
Let us have a brief study on the PESTLE analysis to analyse the different external scenarios that affect the developmental aspect of the Perfetto Juice Company’s macro environment. As a result, through the analysis of the Perfetto Juice Company’s political, economical, social and technological aspects we can evaluate the Perfetto Juice Company’s environments. In support to this, environmental and legal scenarios also impact the Perfetto Juice Company’s environment to a possible scope.
- Political Factors: - The Perfetto Juice Company’s act is based on the governmental variety, regulative and de-regulative patterns, and privatisation of educational institutions, change in the curriculum.
- Economic Factors: - The Perfetto Juice Company’s act is based on the present and expected financial development, economic aid from the government, interest rates, lack of goods.
- Social Factors:- The Perfetto Juice Company’s act is dependent on the development aspect of the population, alteration in the demographical scenario, and possibility for alteration in requirement.
- Technological Factors: - The Perfetto Juice Company’s act is based on the scope of new technologies impacting the matters and the development scenario based on analysis and growth which helps in improving the beverage quality for the consumers.
- Legal Factors: - The Perfetto Juice Company is affected by the different legal factors like the legislation depending on the betterment and safeguard, child safeguard laws, the safety set of laws which they should abide by in respect of evading any legal aspect which may result in negatively affecting their reputation in front of the consumers.
- Environmental Factors: - The scenarios based on the environment and the Perfetto Juice Company’s social tasks are the determinants in this scenario which helps to portray an improved picture in front of the consumers.
Let us have a brief study on the SWOT analysis to analyse the different internal scenarios that affect the developmental aspect of the Perfetto Juice Company’s micro environment.
(S) Strengths – The Perfetto Juice Company has a growing brand image that will attract more and more consumers to buy its product. Also, the brand has an edge over the other competitive brands in regard to its pricing strategy. The compositions of the products are of global standards.
(W) Weaknesses – The Perfetto Juice Company needs to gain more experience in regard to its newly launched products. Also, they need to find useful methods for the retention of the consumers as they are still not being able to create a loyal consumer base.
(O) Opportunities – As the product is more focused towards health, it will definitely attract more health conscious consumers and moreover there are so many Supermarkets in the United Kingdom, therefore it will easier for them to introduce their various products and make them popular.
(T) Threats – The consumers may change their choice of product without any significant reason. A strong competition from other rival brands is also a significant reason that may pose as a threat for Perfetto Juice Company. (Palmer, 2011)
(b) Identify the basis of segmenting the market and propose segmentation criteria to be used for products in different markets
It is a herculean task to concentrate on each and every potential consumer in the market, as a result of which the basic purpose of the Perfetto Juice Company is to aim its beverage at concentrated areas of the market. Therefore, after selecting a definite segment, the Perfetto Juice Company should evaluate its affinity very precisely to assess that they have taken the correct decision. Hence, by not having the total review, if the Perfetto Juice Company starts promoting its beverages then there is a greater scope for failure. Hence, appropriate segmentation aspect is needed to be used which is mentioned as under,
- Segregation of segment: - For evading the confusion of not being able to concentrate on the particular segment of the market, the focused segment should be defined in a very clear way. If this is not done then there is risk of the marketing scenarios to get squandered to various different segments. Hence, the focused segment should be distinguished evidently from the other segments. For example, is a small child and an elderly person give the same reaction while drinking a particular beverage, then there is no need to put them in varied segments.
- Influencing size of segment: - Assessing the size of the present consumer intake in the segment is very much essential prior to considering the research based on it. The Perfetto Juice Company has to evaluate the scenario which is based on the degree of the consumer’s liking and in what ways they are growing in the focused segment.
- Expediency of Segment: - It is the aspect of nearing the consumer’s choices by interacting with them which happens generally through the digital media, television or radio. But, if the focused consumer is not using the various mentioned mediums, then it will be a tough task to get in touch with them. Hence, mistaken marketing communication scenario will not let Perfetto Juice Company to concentrate on the segment which is targeted at and therefore consumers will be not aware of Perfetto Juice Company’s newly launched beverages in the market.
- Suitability of segment: - The Perfetto Juice Company must give importance on the suitability of segment which describes that the consumers who are in the segment should have a taste for the beverages and also have the ability to purchase the beverages.
- Reserve requirement of segment: - In absence of the appropriate resource to gratify the requirement of the segment all the aforesaid aspects will be non-functional.
c) Explain the factors involved in the choice of targeting a market segment for a selected product/service
For Perfetto Juice Company, the following three aspects can be focused on its targeted consumer base which involves tasting the beverage and bifurcating the beverage market into various sections.
- Non-separation marketing: - Non-separation marketing does not concentrate on any particular segment of the market. What the Perfetto Juice Company does is considering a definite scenario which will have a global demand, and its main concentration is to focus on the entire beverage market. The Perfetto Juice Company in its nascent stage used to abide by this kind of marketing analysis when they used to manufacture only one type of beverage but after it has commenced making other types of beverages, it has changed its strategy of marketing to marketing depending on separation. Non-separation marketing is a cost efficient aspect in comparison to other strategies the reason being that there is only one beverage to create, deliver and market and also the company is targeting at various consumer base of the market.
- Separation Marketing: - For focusing on various segments of the market, Perfetto Juice Company will take into consideration the strategy of separation marketing. In this process, the Perfetto Juice Company will take into consideration the aspect of separation marketing which on divided marketing mix aspects for the different segments the Perfetto Juice Company focuses at.
- Concentrated Marketing: - This kind of marketing basically concentrates on the definite segment of the market and the service that will be developed so that the demand of the targeted consumers can get satisfied. It also focuses on the scenario that the Perfetto Juice Company has chosen the correct market segment for its beverage market. (Edward Lowe Foundation, 2015)
(d) Explain your understanding of the concept of consumer buying behaviour and demonstrate how buyer behaviour affects marketing activities in different buying situations.
For Perfetto Juice Company, the below mentioned aspect is required to get employed to analyze the Juice Company’s aiming scenario which is targeting on the beverage usage by the consumers.
- Finding out the need: - It is needed to choose the requirement for the beverage. It may be required when a consumer is trying to find out a selective beverage and to taste that particular beverage the need of the consumer gets increased.
- Searching for data: - After the consumer has found out the requirement for having the particular beverage, he commences the search for the beverage, now the question is which beverage will he select, will he have the Perfetto Juice or something else. For solving this dilemma, he will take the assistance of media and will get affected by it and due to this the Perfetto Juice Company will come up with different scenarios which will encourage the consumers to drink the Perfetto Juice amongst others.
- Evaluation of varied beverage options: - There is a high scope for the consumer to get in the dilemma as to which beverage will he select to quench his thirst and to take care of this situation the Perfetto Juice Company will utilize some marketing aspects such as attractive packaging, and branding to create a brand recall in the mind of the consumers.
- Beverage option: - After the end of the valuation, the consumer is going to take the beverage and if everything happens as desired by the Perfetto Juice Company, the consumer will drink the beverage, but this is a very significant time because at the last moment the consumer may change his mind-set about the beverage, so Perfetto Juice Company should be very particular about branding the beverage so that the consumer does not get dismayed and discard it.
- After drinking behaviour: - After the beverage has been consumed by the consumer, the Perfetto Juice Company should evaluate scenarios to assess the various aspects in which the consumer should motivate his friends t have this particular beverage, in other words the consumer should have a loyalty for the brand, and in regard to this the Perfetto Juice Company is required to have appropriate endorsement attributes which will make the consumer feel proud to have the Perfetto Juice.
(e) Using an example of your choice, briefly explain how a product can be repositioned for Perfetto Juice.
A significant scenario for the Perfetto Juice Company is to analyse in what ways it will position itself in the particular segment of the beverage market. It mainly focuses with the company’s affectivity in distributing the proper knowledge about the beverage to the particular consumer base in the beverage market. In order to do this, the below mentioned strategies are to be considered,
- Developing a positioning based concept: - In order to do this, the significant scenario to be taken into consideration is the evaluation of the beverage market. It should be analysed what is the need of the consumer from the Perfetto Juice Company which needs the evaluation of the same. After doing the evaluation, it is needed to make a list of all the familiar types of beverages as the Perfetto Juice Company and then to find out where Perfetto Juice Company is situated in the target market in accord with its rival beverage companies and then appropriate positioning aspect is required to be used for increase in the consumer strength.
- Growing a final strategy based on positioning: - A strategy that the Perfetto Juice Company wants to display while positioning itself is based on two scenarios, one of it wants to grow a concept which will help it to be in close range of its rival brands so that the potential consumers can do a direct comparison between the various beverage brands or it wants to stay aloof from the rival brands by having certain aspects which are not at all possessed by the competitive beverage brands which may have been analyzed by the Perfetto Juice Company at the time of market assessment by the company.
(a) With reference to the 4P’s of marketing mix explain how they differ in the marketing of Perfetto Juice Company.
Product: - A concentrated step should be taken in regard to the product which will bring more consumers for Perfetto Juice Company in relation with its aspects and preparations. It is evaluated by the Perfetto Juice Company about their involvement in the beverage business.
Price: - When the consumers want to have a particular beverage, the value of it is taken into consideration. The financial plan is prepared by the Perfetto Juice Company concentrating on the amount that will focus on the beverage cost at Perfetto Juice Company. Here, advertising has a significant role to give a better edge over the rival brands.
Place: - It concentrates mainly on the growth of the product, and where it is utilized for getting to the consumers. The main concentration is on the utilization of the product at the required place within a limited time frame without having any adverse effect.
Promotion: - In absence of proper promotion, the Perfetto Juice Company has no way for getting its brand known to the consumers who will be using it. It assists the consumer to get the encouragement to drink the beverage.
(b) Explain the differences in marketing products and services to businesses rather than consumers market.
The differences in marketing products and services to business rather than consumer market are as follows,
Behaviour of the buyer
Business to Business (B2B): In the case of consumers for B2B market the buying decision is less emotional and inclined towards the orientation of task in comparison to the B2C market. The B2B customers are more inclined towards particular attributes of products like cost economy, efficiency as well as value. They also tend to spend more as because the process of purchasing is more difficult and extended.
Business to Consumer (B2C): In the case of B2C markets, the emotional aspects play a very important function. In case of Perfetto Juice Company, this happens to be the case.
Relationship between buyer and consumer
Business to Business (B2B): In the case of B2B marketing, the process of negotiation is more personal and the marketing process takes into consideration various meetings amongst the seller and the buyer prior to the occurrence of a business deal.
Business to Consumer (B2C): The B2C marketing focuses on the extended consumer market with the help of mass media and the traders. In case of B2C marketing, sales person are appointed for the marketing of the product of Perfertto Juice Company to the consumers who takes the final decision in this market segment. The relationship between the buyer and the brand takes place through advertisement, endorsement and so on.
Channels of Communication
Business to Business (B2B): The assessment and the selling aspect for B2B purchases are lengthier and more complicated. B2B marketing also has shorter and straighter delivery channels to target the business consumers.
Business to Consumer (B2C): The assessment and the selling aspect for B2C purchases are shorter and less complicated. They have an extended delivery network to target the individual consumers of the Perfetto Juice Company. (Boundless.com, 2015)
(c) In what way marketing activities in a domestic market differ from those in an international market.
For the potential consumers getting the benefit for having the preferred beverage gives an opportunity for empowerment to the Perfetto Juice Company. There are various attributes as to why the Perfetto Juice Company will focus on exchange internationally which includes:
- International markets are closing the national markets by giving an alternative to improve the beverage quality life cycle in relation to existing cycles.
- Overseas markets include business focused on contrast on various beverage brands which are available in the domestic market.
- Huge individuality is taking place in the Perfetto Juice Company’s beverage brand in comparison to its rival brands. (Shaw, 2008)
A strategy that the Perfetto Juice Company wants to display while positioning itself is based on two scenarios, one of it wants to grow a concept which will help it to be in close range of its rival brands so that the potential consumers can do a direct comparison between the various food and beverage brands or it wants to stay aloof from the rival brands by having certain aspects which are not at all possessed by the competitive beverage brands which may have been analyzed by the Perfetto Juice Company at the time of market assessment by the company.
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