Shanghai University of Finance and Economics
(Outcome covered 1 and 2)
1.0Key characteristics of Marketing Concept3
2.0Micro environment and Macro environment in Relation to Britvic4
3.0Importance of Market Research and Information Gathering5
4.0Marketing Research Information Collection Techniques7
5.0Market Segmentation and Targeting8
6.0Market Mix in Relation to Britvic9
7.0Marketing Mix from Perspective of Services Element11
8.0Marketing Mix in Response to Three Possible Changes in Market Conditions13
Summary and Conclusion13
Britvic Soft Drinks has a long and rich history that extends back to Victorian England and further. The British Vitamin Products Company - from which Britvic takes its abbreviated name - was founded in the mid-nineteenth century in the market town of Chelmsford in Essex. The company was then little more than a home business run from a chemist's shop, not unusual for a soft drinks producer of the time. Britvic’s core superiority is that they have more soft drinks brands in its portfolio than any other UK manufacturer. Britvic’s other strengths is that they have the UK franchises of Pepsi and 7up. The soft-drinks market is structured into main categories-carbonates and stills. Britvic’s weakness is that soft drinks only are popular in summer and more and more people pay attention on health and consider that soft drinks are bad for health. Britvic should improve their sales to reduce costs and increase income and reduce expenditure. In marketing, positioning is the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization. Britvic should establish an opening marketing position by using of competitive advantages.
Key characteristics of Marketing Concept
Marketing is the process of communicating the value of a product or service to customers. (http://en.wikipedia.org/wiki/Marketing) Marketing might sometimes be interpreted as the art of selling products, but selling is only a small fraction of marketing. As the term "Marketing" may replace "Advertising" it is the overall strategy and function of promoting a product or service to the customer.
Marketing concept states that success is achieved by identifying needs and wants of the target market satisfying them better than competitors. The three characteristics are:
i. Customer satisfaction: the firm should identify and define customers’ needs and wants as well as their expectations. All goods and services produced by the firm must satisfy the customers’ needs.
ii. Total company effort: all departments, functions and sections of the business must work together to meet the main objectives of the organization, i.e. satisfying customer requirements.
iii. Profit: marketing concept assumes that profit can only be achieved when customers are satisfied. The customers are entitled to a reasonable product for a reasonable price, while the firm is also entitled to a reasonable profit for a reasonable product.
Micro environment and Macro environment in Relation to Britvic
Micro environment: Factors or elements in an organization's immediate area of operations that affect its performance and decision making freedom. These factors include competitors, customers, distribution channels, suppliers, and the general public. Compared with the internal environment which means the way things are done within an organization and stories that people tell about the workplace developing a mythology...