Definition of Marketing
This is a process where a product moves from concept (advertising and development of the product) to a customer. Marketing is a business that introduces new products into the public with the aim of selling the products or services and making profit. This process is mostly about understanding customers and therefore everything needs to match customer requirements. Although each business has to follow a certain set of rules in order for their project/product/service to be successful. This is putting the product/service into the right sector and plan and follow the product life cycle. Introduction
There are three different purposes of marketing, firstly there is the public sector, this is for such as the government and Police, the aim in the public sector is to make profit. Secondly there is the Private sector i.e. Tesco and Audi the private sector is there to make sure the public receives high standard services. Finally, the last sector is a Voluntary sector and this is for Charities, the aim is non-profit as the sources go into People with illnesses, poor people/children abroad or Hospitals. Product Life Cycle
When a company makes a product and it is launched, it automatically enters a product life cycle (PLC) The first step in the product life cycle is the introduction. This process starts off very slowly with low sale numbers as the public needs to accept the product before they purchase it. If the product receives acceptance by the market the introduction/launch numbers in sale start increasing and the product now has a large amount of customers this is called growth. This can be achieved by advertising e.g. internet, radio, television etc. The following stage is the most important as this shows how many people are eager to purchase the product this is called Maturity. People have more knowledge on the product therefore they are willing to purchase it if they have heard positive feedback about the product. If the product achieves a high rating in sales in the process of Maturity, other companies will want to interfere in order to make a similar product and large sale numbers this is called Saturation. This means there will most likely be competition and the first product can get a big decrease in sales as another company could out take them. If other companies get in the way and out take the original product it can cause a large decrease of sales as the public are no longer willing to purchase the product as there are other copy products in the industry. They are no longer making any profit, this is called Decline. When the public/customers decline to purchase the product it will automatically get withdrawn this will cause the product to go off the market therefore they will need to create a new plan for a new product, this is called Withdrawal. Ansoff Matrix – This progress consists of Growth Strategies: Diversification, Market Penetration and Product Development. It identifies growth strategies within a business.
Introduction to British Gas British Gas is an enormous energy supplier company that provides for United Kingdom and North America. Although British gas is in a top 30 of FTSE100 (This is an index of 100 most providable companies within Britain) it’s also a part of Centrica. Centrica is a large British utility company that’s located in Britain but also has great interests with North America and within Europe. The principle aim of Centrica is to provide gas and electricity, the company is known as the largest supplier to Uk customers. The name ‘British Gas’ operates in UK where as Scotland operate under ‘Scottish Gas’. British Gas is a part of...