Unit 3 Marketing Principles Assignment
this Unit 3 Marketing Principles Assignment discuss concept of marketing usees for the organisation. The overall process of the marketing includes the various steps that provide the help to the organisation in the decision making in all the terms. Even with the help of the marketing, the organisation can get the exact behaviour of the customer and the exact need of the customer. In this Paper, I am appointed as a client manager and my task is to have discussion on the different aspects of marketing with the following aspects with Leslie.
a) Outline the type of marketing mix of strategies that Leslie’s business will need if it is to expand the business to break into the lucrative department store market, and explain how these strategies will differ from those used in attracting their normal customers, individual consumers and small retailers.
Marketing mix also known as the 4P’s is used as a business tool for the determination of the product or brand’s price and could helps the Planet preserve for the identification of the suitable strategy related to the price, product, place and promotion of the product offered by the Planet preserve.
If Leslie expands its business by lucrative department store market then the marketing mix would be:
- Product: Planet preserve offers the preserved food item to the departmental store then it need to be hygienically packed and bottles of the pickle, jam and jelly should be in the attractive design and colour so that it can easily attract the customers.
- Place: the positioning of the preserved food should be near the billing counter so that the customer can get the enough time to observe while they are waiting for their tern in queue (Skallerud & Gronhaug, 2010).
- Pricing: for the price of the product offered by the Planet preserve, it could adopt the psychological strategy and competitors based strategy. Psychological strategy means the price should be like $9 or $99 for the product as this affect the mind of customer that $9 is less than $10 and competitors based strategy includes keeping the price low from all the competitors present into the market.
- Promotions: the promotion of the product offered by the Planet preserve could be done with the help of the sales promotion, advertising or through banner outside the departmental store or the display inside the departmental store (Shimp & Andrews, 2013).
Leslie can use the same Marketing Mix for the normal customer, individual customer or for the small retailer which is as follows:
- Product:if Planet preserve offers the preserved food item to the normal customer or the small retailer then the product should be in the attractive design and the and the appearance of the product should be good and tasty and should fulfil the need of the customer.
- Place: the distribution of the product for the Planet preserve should include the direct marketing to the small retailer and the intensive distribution policy for the customer that means the product will be highly available into the market so that the customer is get attract toward the product (Fan & Li, 2010).
- Pricing: the planet preserve may adopt the cost based strategy to set the price that means the cost in manufacturing the product would be calculated then the fixed profit over the cost should be added to this.
- Promotions: the promotion of the product offered by the Planet preserve could be done with the help of the advertisements in newspaper, TV, magazines and through the mouth to mouth publicity.
b) Demonstrate how buyer behavior differs in the consumer markets and the caterer/hotelier market and how it might affect Planet Preserve’s marketing activities, particularly the way it positions itself in the new corporate market.
The consumer and the caterers both have the need of the product offered by the Planet Preserve. But there may be a large difference between the buying behavior of the customer and the caterer as the caterers needs the great quantity of the product offered by the Planet Preserve (Bruwer, 2014). The difference between the buying behavior of consumer market and caterers market and their effects on the marketing activities of Planet Preserve is as follows:
- The numbers of the caterers are few in number but buy the huge quantity of product that is offered by Planet Preserve while the consumer market has the large numbers of buyer but they buy in a very small quantity (Ali, Kapoor & Moorthy, 2010).
- The caterers may increase the volume of the purchased item if they find that the price of the product is going to rise or may decrease the same they predict any fall in price in future. This could not be seen in the consumer market. The marketing activity of the Planet Preserve affects with it as at the time of the bulk buying from the side of the clients they has to increase the level of production.
- The difference in the buying behavior could be seen in the customer if the Planet Preserve changes in its design and style while the development in R&D, technology attracts the caterers most. The marketing activities of the Planet Preserve affects in both cases as the organization need the more marketing research in both.
The new position business strategy that the Planet Preserve could be adopted may be the price based positioning (Ahmad, 2010). As the organization is offering the preserve food such as pickle, jam, jelly etc., there are huge presence of the competitors so the best method to position the product in to the market where the huge competition is present is the price based positioning in which the price of the product is set too low that could create the position into the market and it is also very helpful when the organization is new into the market.
c) Explain how to use new and existing promotional activity to achieve an integrated approach to these new and developing marketing objectives.
The integrated approach of the promotions for the product of the planet preserve includes the combination of the communication tool and the media to spread a promotional massage to the reach of the customers (Kim & Hyun, 2011). The new and existing promotional activities to achieve the integrated approach could include as follows:
- Advertisement and PR:the combination of the advertisement and PR would be very beneficial for the Planet Preserve as the advertisement would help in creating the awareness for the product offered by planet preserve and PR will maintain the relationship with the customer that will create the positive impact on the mind of the customer.
- Thinking outside box: the employee of the Planet preserve need to be more creative in order to create the out of box thinking such as they may offer the some gits and coupon at the time of the selling the product to the customer and they may also health care setting on the bottles of the product. The combination of such activities gives an integrated approach to achieve the best result for the planet preserve (Joseph, 2011).
- Social media: the opportunity of the integrated marketing strategy is given by the social media to increase the awareness of the product into the market. The customer in face book and twitter can be connected and the same blog could be managed by each and every customer.
d) Explain why international marketing differs from Planet Preserve’s experience of domestic marketing.
The international and the domestic marketing could be said dame as both depends on the marketing includes the plan and the policies that is designed to attract the customers (Reinartz, 2010). But still they both have the different aspects when talking about the Planet Preserve experience. The difference between the domestic and international marketing with the respect to the Planet Preserve experience is as follows:
- The culture for the planet preserves would be different if it goes for the international market as in international marketing, the organisation need to expand the business beyond the boundaries of the country while in domestic marketing; the product is marketed inside the boundaries. Hence, the rules and regulation faced by the Planet preserve remains same in the domestic marketing and would be changed in the international marketing.
- The level of the competition would increase if Planet preserve go for the international marketing because the number of the firm will increase Hence the competition would be increased while in domestic marketing, the competition would be same.
- The planet preserve may adopt the international law while adopting the international marketing.
- The degree of the technology would be changed for the planet preserve as it finds the technology advancement into the other countries while in domestic marketing the same strategy or technology could be used (Luan & Sudhir, 2010).
- The grabbed opportunities and the benefits with the domestic marketing for the Planet preserve may be less in the number in the comparison of the international marketing.
- The planet preserve may face the number of barriers into the international market while doing international marketing while there is no barrier is present into the domestic market.
If Planet preserve sell their product to the departmental store then the marketing mix for this segment is discussed above. Besides this, the marketing mix for the individual customer is also described along with the buying behaviour of the caterers and the customer for the product of the planet preserve. The difference between the domestic and international marketing is described. The different approaches of the promotion and the advertisement for the Planet preserve are discussed.
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