P1 Unit 3 Market Research
Unit 3- An Introduction to Marketing
Tutor: Phyllis Service
Assignment: P1- P2
P1- Describe how marketing techniques are used to market products/services in two organisations
Introduction
Marketing techniques vary depending on a business. Every Business tends to have a fundamental objective, which is profit. In order to be successful, you should consider taking and using these important techniques in order to make your business be effective and efficient.
Give a definition of marketing
The definition of marketing is "Putting the right product in the right place, at the right price, at the right time"
Source : BBC Bitsize
Morrison 's
Morrison 's Supermarket is the fourth largest chain of supermarket in the United …show more content…
On the Morrison Supermarket Website its states:
"We offer quality and freshness at a price people like. Our famous promotional offers always save our customers money. We don 't just offer value on a few items- our prices are great value across the ranges". This is known as Brand …show more content…
The reason being Red Bull Drink is a worldwide company, whereas Morrison 's is a regional company.
One main thing Red Bull Drink does is that it has a distinctive product. The taste of the product is unlike any other, it also has a functional effect in comparison to other soft drinks. Red Bull uses premium pricing strategy. The product is priced above that of competitor’s products.
Consumers will pay a premium for Red Bull due to the quality of the product and the product 's benefits. This is reflected in the fact that it is the world 's best-selling energy drink.
Marketing Techniques
1- What is Asnoff Matrix?
Asnoff Matrix is a marketing tool created by Igor Asnoff. Igor was a Russian/American mathematician who applied his work to the world of business. His most famous work is the Asnoff Matrix. The purpose of this is to help managers consider how to grow their business through existing or new products or in existing or new markets.
In this way he was helping managers to assess their business and moving it forward. Here is a table of Asnoff
Tutor: Phyllis Service
Assignment: P1- P2
P1- Describe how marketing techniques are used to market products/services in two organisations
Introduction
Marketing techniques vary depending on a business. Every Business tends to have a fundamental objective, which is profit. In order to be successful, you should consider taking and using these important techniques in order to make your business be effective and efficient.
Give a definition of marketing
The definition of marketing is "Putting the right product in the right place, at the right price, at the right time"
Source : BBC Bitsize
Morrison 's
Morrison 's Supermarket is the fourth largest chain of supermarket in the United …show more content…
On the Morrison Supermarket Website its states:
"We offer quality and freshness at a price people like. Our famous promotional offers always save our customers money. We don 't just offer value on a few items- our prices are great value across the ranges". This is known as Brand …show more content…
The reason being Red Bull Drink is a worldwide company, whereas Morrison 's is a regional company.
One main thing Red Bull Drink does is that it has a distinctive product. The taste of the product is unlike any other, it also has a functional effect in comparison to other soft drinks. Red Bull uses premium pricing strategy. The product is priced above that of competitor’s products.
Consumers will pay a premium for Red Bull due to the quality of the product and the product 's benefits. This is reflected in the fact that it is the world 's best-selling energy drink.
Marketing Techniques
1- What is Asnoff Matrix?
Asnoff Matrix is a marketing tool created by Igor Asnoff. Igor was a Russian/American mathematician who applied his work to the world of business. His most famous work is the Asnoff Matrix. The purpose of this is to help managers consider how to grow their business through existing or new products or in existing or new markets.
In this way he was helping managers to assess their business and moving it forward. Here is a table of Asnoff