The report is tasked to take an in-depth look at the marketing environment in which our chosen organization, bskyb operates within. The report is further tasked to identify why complacency should have no place in the complex competitive market in which bskyb operates. In order to address the issues at hand, the report will establish and identify the elements of bskyb marketing mix and outline the necessity to continuously “explore various possibilities of improving their activities towards satisfying the needs and wants of their target market”.
The report will commence by giving the historical background of bskyb- who are they, when did they commence, what their initial core activities were and what their current core activities are. The report will continue by defining the concept of the marketing mix and defining the service sector. It will follow by defining and assessing the seven elements of the marketing mix.
The report will further highlight BskB’s objectives, identify their current market share against their competitors and define their market orientation. The macro and micro marketing environment will be discussed and both a SWOT analysis and Pest analysis will be conducted in order to establish why being complacent with current practices raises concern.
The term marketing mix was introduced by Neil H. Borden in 1965. The marketing mix is a marketing tool which ensures marketers provide the right product at the right place at the right price. The term “marketing mix” rightly gives the indication that the provision of the right product at the right place at the right time can only be achieved if there is a balance in the marketing mix elements, that is Price, Product, Place and Promotion referred to as the 4Ps. Service industries further extend the Marketing mix to 7Ps. They are People Process and Physical evidence. We will now discuss the marketing mix of BSkyB.
Life cycle –make products obsolete.
Google pop ups, tv
• Physical evidence.
The basic concept of marketing mix (description of four marketing mix elements) was published in the article “The concept of the Marketing Mix” in Journal of Advertising Research. Later on concept was expand to seven marketing mix elements, and then to nine marketing mix elements and later additional three elements was added.
Classic concept of marketing mix it is “4P”:
We define a product as anything that is can satisfy customer needs and wants. This definition includes material products and services. Product Life Cycle imposes limitations on the different marketing policies.
Product Life Cycle is usually divided into four stages: introduction, growth, maturity, and decline
1) First is the development stage (introduction stage) the market share and growth is slight. It is possible that substantial research and development costs have been incurred in getting the product in to the market. There are additional costs for marketing and setting up distributional channels. Usually companies do not make big profits at this stage. At this stage, everything is done to ensure success and future growth of the product.
2) The growth stage main objectives are to increase the market share and if product is successful start to develop product under the same brand name. At this point, there are increasing sales and profits levels.
3) The maturity stage at this point growth in sales resign .Competition is could appear, the main objectives is to defend market share as possible longer time period while maximizing profit.
4) Decline stage - as sales are declining the company has more than one potion:
1. Find new market for existing product
2. Extend the product with additional features...