The aim of the paper is to analyse macro and micro analysis in regards of Fuel Angel to help the company formulate their marketing campaign in the UK market. It aim to conduct PESTLE and micro analysis in regards of highlight the potential barriers and advantages for the company in the UK market that should be highlighted before planning a marketing strategy for their product.
Overview of the Product
Fuel Angel is an automobile product by Dragons Den in the UK market that help the automobile owner to save their vehicle from misfuelling that might further affect the working of their vehicle and cost them a huge amount of money to repair the damage. There are only a few cars companies like BMW, Ford and others that have built-in system to prevent
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Legal Factor
• The restriction and ethical awareness among people regards pollution in the UK market should be evaluated before formulating the marketing campaign for the product.
• Violating of any environmental law because of the use of Fuel angel might affect the company legally and economically (Grünig & Kühn, 2015).
Micro Analysis
Apart from the PESTEL factors, it is also important for the company to understand the working market, their potential customers and competition that the product might face in the UK business market. Therefore, it is important for Fuel Angel to conduct micro analysis of the UK market in regards of market, customers and completion in order to formulate their marketing strategy more appropriately (Cross, et al., 2015).
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The average class people that have limited resources and budget should be the market target of Fuel Angel while formulating their marketing strategy as they usually look for the product that might help them to limit their budget in regards of spending. Focusing on average class market might help the company to increase their sales and business in the market. Moreover, it will also help the company to increase the knowledge of their potential product among people that will further help the company to expand their working area in the UK market (Cross, et al.,
Market research provides information to help unravel marketing obstacles that businesses face in today’s business climate, an essential part of the business planning process. As shown in the example certain strategies such as segmentation or differentiation are almost unattainable without relevant market research.
The abovementioned process is influenced by the commoditisation of products and blurring of consumer's own perceptions of the companies' offering. In order to differentiate and position their products and/or services today's businesses employ advertising which is sometimes considered not only of bad taste, but also as deliberately intrusive and manipulative. The issue of bad advertising is topical to such extent that organisations like Adbusters have embraced the tactics of subvertising - revealing the real intend behind the modern advertising. The Adbusters magazine editor-in-chief Kalle Lason commented on the corporate image building communication activities of the big companies: "We know that oil companies aren't really friendly to nature, and tobacco companies don't really care about ethics" (Arnold, 2001). On the other hand, the "ethics and social responsibility are important determinants of such long-term gains as survival, long-term profitability, and competitiveness of the organization" (Singhapakdi, 1999). Without communications strategy that revolves around ethics and social responsibility the concepts of total quality and customer relationships building become elusive. However, there could be no easy clear-cut ethics formula of marketing communications.
As stated in the case, “the market for energy drinks was growing; between 2010 and 2012, the market for energy drinks had grown by 40%. It was estimated to be $8.5 billion in the United States in 2013 [and] forecasts projected that figure to reach $13.5 billion by 2018” (pg 5). However, much of this market’s revenue -- 85% in fact -- is dominated by five major brands, while the remaining 15% is split between approximately 30 regional and national companies. (pg. 5). With this saturated market, it might not be best for Crescent Pure to enter as a completely new product to the industry, as there is the possibility that it will be squeezed out of the profit shares by more established brands -- especially if it is not properly secure in its identity. In addition, while the market for energy drinks appeared to be growing at an exponential rate compared to the market for sports drinks -- which increased only 9% in five years and would be at approximately 60% of the rate for energy drinks in 2017 (pg 6) -- the consumers appeared to be wary of partaking in the market for several reasons, which would potentially harm the reach of Crescent Pure. These concerns included rising news reports discussing the safety of energy drinks (pg. 5). Taking into consideration the data provided in the case that concerns reasonings of why consumers choose specific drinks over others, there
For over 100 years, the automobile industry has relied on gasoline as its main source of fuel. Gasoline is a colorless, highly flammable substance used in internal combustion engines. It is a fossil fuel made from crude oil, a natural gas formed from the remains of ancient plants and animals (Webster‘s Dictionary). Gasoline has positively influenced our way of life by providing convenient, on demand transportation. It has created a global economy that moves people and goods faster and more easily than ever imagined (Povey 12). Although a seemingly perfect substance, it has unprecedented flaws. The tremendous political, environmental, and economic problems resultant from the excessive use of gasoline leads to the conclusion that the automobile industry should not continue to rely on this source of fuel.
The marketing mix, which is basic to any organization, can be considered the ‘controllable’ variables that every business encounters. These controllable variables can be modified based on the uncontrollable variables (external factors found in Environmental Scan) that directly affect business operations. A company focuses on four elements in the marketing mix: Product, Price, Place, and Promotion, which are managed and coordinated through marketing programs in efforts to appeal to their target market. Marketers strive to understand what motivates consumers to purchase certain products. The marketing mix helps to break down some of these questions: What will consumers buy? How much will they spend? Where will they buy? And will they buy again?
Small beverage companies in US are following different marketing strategies to attract potential customers. Many rivals are emerging and coming up with new brands with specific niches. The main success factors of Energy Drinks includes
Having both marketing strategies and both products analyzed and the history of the important marketing decisions made and techniques used by the company written down, it will be interesting to perform a critical analysis of how the market and business realities made an impact on the marketing of Tesla Motors, why it happened and what was the effect. The presence of the CEO and the impact he makes on the public and investor confidence will also be critically reviewed. Based on the results, a list of recommendations will be composed for both representatives and marketing specialists who work in the same or similar
· The Right Marketing Mix – Is the product right?, Is it sold in the
With a strategic focus on a specific target audience, problems with expansion as well as threat of new entrants within the industry are at high risks. A prime example of the industry’s weakness is displayed through Red Bull. Although Red Bull has strong market strategies, its set focus on the younger generation, athletes, and an active community poses threats. Younger generations feeds off risks and new experiences. However, fast pace and risky lifestyles aren’t for all audiences, posing problems on whom expansion should be targeted towards and how to execute expanding without losing its original focus. Also, while expanding its market, Red Bull must ensure that current consumers remain loyal as companies such as Coke and Pepsi present their own “energy drinks.” New entrants increase competition within the market and possibly rivalry amongst
The 'Secondary' Create your marketing strategy and goals. Retrieved October 20, 2007, from http://www.cd http://www.businesslink.gov.uk/bdotg/action/layer?topicId Lucozde.com (2007). The. Retrieved October 20, 2007 from http://www.lucozade.com/energy/. Perreault, W., & McCarthy, J. a. The adage of the adage of the adage Basic marketing: a global managerial approach.
Some advertising messages most times brings ethical issues especially when it comes to international marketing. Due to cultural and language differences between different countries, regions and areas in the world, a single marketing messages will not work because of this global difference, therefore marketers needs to be aware of these differences before launching any form a marketing communications. Lots of marketer engage in unethical marketing strategies and tactics just to gain an unfair advantage over other businesses in same industry by intentionally exalting their products with words that are not true concerning the products putting their own higher at the detriment of competing
In order to generate sales, marketers often promote aggressively and uniquely, unfortunately, not all marketing advertisements are done ethically. Companies around the globe spend billions of dollars to promote new products and services and advertising is one of the key tools to communicate with consumers. Conversely, some methods that marketers use to produce advertisements and to generate sales is deceptive and unethical. Ethical issues concern in marketing has always been noted in marketing practice. According to Prothero (2008), ethics itself has a profound, varied and rich past. It emphasizes on questions of right and wrong or good and bad.
The factors that have a great influence on marketing management, marketers’ business decision-making, and their relationship with customers include macro- and micro-environment, and the latter in turn includes the concept of so-called “4 P’s” (i.e., product, place, promotion, and price). Micro-environment is also referred to as “immediate environment” and stands for the factors that are literally “close” to a certain company: its suppliers, customers, intermediaries (e.g., advertising agencies), and competitors (“Marketing environment,” n.d.) Four P’s are also called “the marketing mix,” and their most widely used interpretation belongs to McCarthy (Blythe, 2008). The marketing mix indicates the four aspects of how to make your business profitable and yourself proficient as a marketing specialist. As Cannon (1992) pointed out, “The marketing mix is the set of controllable variables that the firm can use to influence the buyer’s response.” First, the business person needs to understand what the product of consumer’s desire is. It is obvious that “an undesired product” will not be sold. Producers, however, may invent something that consumers even did not expect to have but really wanted, at least, unconscious...
The more experience you have putting these tips into practice, the more they will become instinct. And by making informed decisions and ensuring that the product’s claims are accurate, you can feel good about the choices you make and their positive impact on the environment. If more greenwashing means that marketers are increasingly responding to the demand for sustainable products, this could be a positive trend. If left unchecked, greenwashing creates significant risks. Consumers will give up on marketers and manufacturers, and give up on the hope that their spending might be put to good use. Recent developments suggest companies should be prepared for the new wave of measures. Greenwashing has become a buzz word for consumers and the media. Unfortunately, the rules are not always clear when it comes to responsible environmental marketing.
Young, D. (2012). Green Marketing & Marketing Ethics, Room 009, Block 17, Middlesex University Dubai. (25th March, 2012)