CIM defined “Marketing is a management process responsible for identifying, anticipating and satisfying customer requirement profitably”. According to Dibb et al. (1997), “Marketing consists of individual and organisational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas”. Marketing model consists of identifying target market, market research, product development, market monitoring and marketing mix.
Marketing as a management process involves five key tasks which involves
1. Identify target market
2. Market research
3. Product development
4. Market mix
5. Marketing monitoring
Various elements are involved in marketing process. In Boots marketing process based on customer wants and needs. Boots believe customers deserve good value and quality (Boots-uk, 2014) Marketing mix is the way that Boots can bring their products and services to the market. Boots marketing elements are product, price, place and promotion. Boots retailers sell pharmaceuticals and health and beauty products and services. They are selling their products to affordable prices through their stores and online market to the UK customers. Boots have competitors in the market now a day’s supermarkets also allow selling the pharmaceutical products. Boots promote their products in several ways.
Below the diagram shows different marketing concept in Boots.
Boots is a customer based market oriented company. It is providing wide range of product and services to UK residents. Boots product and services are mainly classified into the groups such as pharmacy and health, beauty, fragrance, mother and baby products, toi...
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... marketing facilitates the organization make decision and designing marketing strategies that are more efficient and effective. Less risk and can able to manage with less financial resources.
International marketing is the sales and promotion of an organizations good and services to customers in global countries. It needs huge amount of finance to run the business. It is a complex process because each countries has own culture, law and legislation and own currency. Global business companies need to follow different marketing strategies based on customers’ needs, wants and demand.
Global marking requires more effort and time and it is have high threats. Due to the globalization international market environment is uncertain. Because of that business organization always be accept the changes. International market needs a high commitment to achieve their success.
Global marketing is defined as marketing on a worldwide scale, or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives. Marketing managers are also tasked with the responsibility of “wringing the pennies out of the activities.” Basically, they are responsible for and add value to their activities that will contribute to a higher value in the mind of their consumers. Managers must understand the role of their salespeople as marketers – they must collaborate and support them. They must work with their supply chain functional managers to accommodate international customer preferences. Communication must flow up and down the chain quickly in order to respond to emerging international marketing threats and opportunities. It is essential to monitor the firm’s global marketing efforts in a global market.
An Analysis of Boots Introduction The business I have chosen is Boots due to my interest in health and beauty products. Boots is a multi-national company. It has branches all over the world including Thailand and Japan. Boots was established by John and Mary Boots. The first ever Boots store opened in 1849 in Nottingham selling herbal remedies for poor city people.
Marketing is a very powerful tool. Unknown to many individuals, the influence marketing has on them is far more than mere visual and audio stimulation. It effects their perception of their surroundings and themselves. Marketing how the power to form our perception of life. A successful company understands this principle and harnesses the power of effective marketing.
In an increasingly competitive market with strong rivals such as Reebok, Adidas, Nike’s latest strategy is offering consumers the shoes they desire. This is done by providing customers with the option of designing their own shoes. At Nikeid.c...
Marketing is the process of searching for options for accumulating profits by identifying the demands of the people and satisfying their needs with appropriate products. In today’s globalized business world, marketing can play a vital role in establishing trade blocks all over the globe with competitive and cutting edge market, research, policies, strategies and activities.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
It is a well-known fact that marketing is a way to get the business off the ground. Without marketing, then no one will know about the goods and services a brand is selling. “Good marketing makes the company look smart. Great marketing makes the customer feel smart.” (Chernov).
Global segment include relevant new global markets, existing market that are changing, important international political events, and critical cultural and institutional characteristic of global market. When company entering the global, it automatically can increasing number of people believe or consumer in the multiple nation and this si...
This means that customers either prefer purchasing a high priced branded product or just any formal shoe that fulfils their basic need. The manufactures of formal shoes has not been able to differentiate their product from the rest of the brands. Approximately 8 to 10 percent of an Indian’s income is spent on accessories and footwear. The young and employed are gradually going for branded footwear from the unorganized sector. Generally, men purchase a pair every 3 months while ladies do as such following several months. Ladies customers normally prefer factors like good color, and design, as well as heel sizes. Men, then again, regularly go for shoes that don't slip, are produced using waterproof materials, and are biodegradable. People now change their shoes in tune with the changes in their clothes. A lot of customers are these days more stressed over looks of shoes over other factors like resilience and ease. This is all the more common amongst office goers, party goers. Thus, the wide variety of options in formal shoe segment needs details marketing and targeting for a brand to grow. Understanding why a customer would choose a particular brand over another will give us clarity on how to direct the marketing activities, pricing or even the product design. There is a huge segment of consumers, who if properly targeted on the basis of their
This project concentrates on the Nike Sports shoe; Nike is one of most significant shoe manufacturing company worldwide. Sportswear manufactured by Nike is known for quality and is most liked brand of athletes. (Daniel, 2011)
Marketing is a vital component in the success of businesses. Smaller businesses rely on business advertising, expenses, knowing if the business is networking with the right people, or joining the best organisations that lead to success (EStartup business blog, 2010). Marketing concentrates on customers and what the customers want. Customers are the source of sales and profits. Many small businesses are faced with remarkable hardships due to not developing the right marketing plan (EStartup business blog, 2010).
According to Kotler (2012), Marketing is about identifying and meeting human social needs, thus it is not only about advertising and promotion it is more than this. It includes setting competitive price, communicating effectively with potential and existing customers and also introduction of new products.
The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits
It involves the vital process of researching, promoting and offering products or services to a company’s target market. Marketing is an important business process where the company can inform, attract and convince people that its products or services are of value to them. Without Marketing, many businesses would be unable to exist or operate well in the market. They could offer the most amazing product or service in the market, but if nobody knows about its existence or understands its value, these companies are unable to make a single sale thus they may have to be out of
According to Blythe (2012), marketing is a management process which identifies and fulfils customers’ needs and at the same time, makes profit. By having appropriate marketing concepts, Charles and Keith manages to develop within few years from an unnoticeable small shoe store to an international footwear brand which occupies a significant place in the industry.