Marketing PrinciplesUnit Code:
6th March 2013
Andrei OlariuStudent ID:
John HeatherInternal Verifier Name
Mephisto Products Ltd
Mephisto ltd raised from form the idea of an engineer James Watkinson which married the daughter of the owner of a detergent manufacturer, where also realised hi can improve the work in the chemical industries and make it more qualitative and much safer. He started first to manufacture safety devices for his father-in-low and then grow wider because he believed in his product and he introduce it on the market focusing on chemical industry only, but for that needed a plan to penetrate the market. Because the customers did not know about his product and they were not aware of such a device might be needed for their mechanisms a team of salesman’s took the product and successfully sales it over the country. Also started to do some advertising and promotions from some parts of his profits, for a while there were some discounts for larger orders to make potential customers buy the product but Watkinson’s philosophy was: ‘If they want the product badly enough they will wait for it’, as well as: ‘Why offer discounts for larger quantities – if they did not want that many they will not order them.’ During for five years the business was very successfully, but unlikely its market share dropped drastic when on the market new competition arrived with more innovative products. Now Jim Bullins the senior executive at Mephisto decided is time for a new marketing director to come aboard. What Mephisto Is looking to accomplish with a new marketing director is to establish, expand and maintain relationships with customers and partners. Defined by (AMA 2007):
"Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers,...