Q1:
Ans:
The term marketing concept consists of following key characteristics:
1- Identifying
2- Anticipate and satisfying
3- Profit
These characteristics are illustrated as follows:
1- IDENTIFYING
Identifying is probably the most important task that generally involves the location and identification of needs and demands of the public and to gain the knowledge of competitors in the market. This process can be done through market research and public surveys about what products and services people want from the producers, then plan to produce and fulfil the customer requirements keeping the prices in mind.
2- ANTICIPATING AND SATISFYING
A key character of marketing is to provide the services and products what
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- Economical
- Recession
- Unemployment
- Salary restraints
These factors will cause people to spend less money on soft drinks.
- Social
- Sport association
- Helping poor community
- Sponsorship of celebrities and sport tournaments
- Health departments
These can help britvic in its promotion of drinks and increase its sales.
- Technological
- Modern machinery
- Moderns means of advertisement like radio, television, internet etc
These all show external factors for Britvic which are beyond its control and these factors affect Britvic’s sales and goals.
Q 3
Ans:
MARKET RESEARCH
Market research is the set of steps taken by an organisation in order to collect information about the markets current position, competitors, services, economical changes and customer demands etc.
The importance of market research to Britvic
This phenomenon can help britvic to develop:
- Business plans
- Introduce a new product
- Niche market
- Provide excellent services in the way customer wants -Expand its current marketing strategy
- Have information on public demand in a particular market place
- Develop strategy to advertise, etc.
- Increase its sales
Britvic being such a huge globally recognised soft drink brand will also need and must undergo market research at regular intervals.
All the above mentioned points are benefits for britvic as a result of
▪ Special screenings with access to a premium food and beverage menu for VIPs only
Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim
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felt that in order to truly identify a market a company would have to go through the process of
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Market research is the method of gathering and analyzing information about customers, competitors and the market. Market research is used when companies want to focus on things like market trends, customer habits and lifestyle, what price customers will pay for a product and what competition exists. This type of research assists companies build an idea on how competitive the market is also business owners can price their products efficiently with the understanding of the current market research.
Discuss what is meant by the term “customer orientation”. Illustrate with examples how companies demonstrate their customer orientation by reference to at least two elements of the marketing mix.
This document represents The i-Fusions Consultant’s Report on BRITA. The company’s current business situation is analysed and various options for action considered. The report aims to identify a clear marketing strategy for Brita in order to address the current issues facing the company the associated falling sales.
A comprehensive market research allows you to systematically manage business opportunities. Our team will develop these researches in different countries for you based on a quantitative analysis of trade history, potential costs, competitors, customer profiles and local government policies. This analysis will allow you fully understand the prospects of target markets and ensure your sales force uses its limited resources for the most profitable effect.
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