Preview

Understanding the Importance of Marketing Environmental Factors, Marketing Mix and Consumer Buying Decision Making Process of a Service Organizations. Essay Example

Satisfactory Essays
Open Document
Open Document
466 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Understanding the Importance of Marketing Environmental Factors, Marketing Mix and Consumer Buying Decision Making Process of a Service Organizations. Essay Example
Submission date : 8th March 2013. TOPIC : Understanding the Importance of marketing Environmental Factors, Marketing Mix and consumer buying decision making process of a service organizations.

By : Mahesh Fernando MBA (ECU)AUS PG. Dip in Mkt. SL CPM Asia (AMF) MSLIM

 

 

Task 01 Select a service organization which is in operations in Sri Lanka and do an Internal , Micro and Macro Environmental analysis. (25 Marks) Task 02 With reference to the selected organization, select one service and carry out a detailed analysis and identify key unique features in its marketing mix(7 Ps) elements. (30 Marks)

 

Task 03 Understanding “Consumer Buying Decision Process” is very important to a marketing oriented organization. Explain the stages of consumer buying decision process with reference to the product/service which you have selected in task two.

Allocation of Marks
Task 01 Task 02 Task 03 Following assignment guidelines Total 25% 30% 25% 20% 100%





Select a service organization and give a brief introduction about the company and its services portfolio. (The student may visit company websites and gather the necessary information regarding the company and its products (product lines, brands, etc.)

Company History

: ABC Pvt Ltd. : 1996 with a staff of 4 and today its a 1 Billion LKR business. Products : ABC diploma program No of services : 03 Service names : ABC Diploma/ XYZ MBA program/ YYH Degree

Do a Internal/Micro and Marco analysis.

Macro Environment
Micro Environment Internal Environment Intra Firm
| People| Culture| Structure | Resources

Customers, Suppliers, Competition, Public, Stakeholders

PESTEEL Factors

Internal/Intra Firm environment


People

: Work towards a collective goal (Customer satisfaction) : Work to rule culture Vs task oriented



Culture



Structure : Customer centric or organization specific Resources : Brands, Financial, Partners etc.





Micro environment

You May Also Find These Documents Helpful

  • Better Essays

    MGMT 522 week3 quiz

    • 2490 Words
    • 10 Pages

    3. (TCOs C, H) What are the five stages in the buying decision process? Briefly describe each. (Points : 5)…

    • 2490 Words
    • 10 Pages
    Better Essays
  • Better Essays

    M1 Unit 4

    • 3521 Words
    • 15 Pages

    The marketing process consists of various elements. Using a working example of your own choice illustrate this. (Outcome1.1)…

    • 3521 Words
    • 15 Pages
    Better Essays
  • Better Essays

    Management is faced with many decisions when considering the environmental factors that affect marketing. This includes global economic interdependence, demographics, cultural differences, social responsibility, ethics, and technology. It is imperative for a company to understand how these factors can greatly affect the outcome of a company’s marketing plan.…

    • 1181 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    BPS 6310 Spring 15

    • 2800 Words
    • 14 Pages

    interests include the effects of regulations on strategic decisions in industries such as the insurance…

    • 2800 Words
    • 14 Pages
    Powerful Essays
  • Better Essays

    Cereal Aisle Analysis

    • 1249 Words
    • 5 Pages

    To understand how the consumer progressed through the consumer behavior process, we must first understand the consumer buying process. It is also important to note that not every consumer goes through all the stages. There are six stages in the consumer buying process: Problem Recognition (need) - in this stage the consumer realizes that they are lacking something, therefor they have a need; Information Search- now that the consumer has acknowledged their need (or want) they start finding the necessary information or taking the necessary actions to fulfill their need; Evaluation of Alternatives- in this stage the consumer knows what they need or they at least have some general idea, and now they are looking at all the options available to them; Purchase Decision- At this point the consumer is now processing all the information from the evaluation of alternatives, and deciding to move forward with their purchase or not; Purchase- this is the stage where the transaction is complete. The need that was previously acknowledged has been met; Post Purchase Evaluation- At this point the consumer decides whether they are happy with their purchasing decision or if they have feelings or remorse.…

    • 1249 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Marketing Chapter Outline

    • 497 Words
    • 2 Pages

    ii. Country culture-entails easy-to-spot visible nuances that are particular to a country, such as dress, symbols, ceremonies, language, colors, and food preferences…

    • 497 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Dawn as the Brand

    • 1801 Words
    • 8 Pages

    References: AIU Online (2011). FAQ: Marketing Sgtrategies and Methods. [Unit Materials]. Retrieved from AIU Online Virtual Campus. Marketing Management: MKT305-1103A-10…

    • 1801 Words
    • 8 Pages
    Good Essays
  • Better Essays

    References: 1995-2012, FedEx. (1995-2012). About FedEx. Retrieved May 17, 2012 , from http://about.van.fedex.com/ R. Kerin, S. Hartley, E. Berkowitz, W. Rudelius (2011): Marketing, 10 th Edition, Mc Graw-Hill 2011 Philip Kotler, K. L. (2012). Marketing Management, Thirteenth Edition. Prentice Hall, Inc. A Pearson Education Company. ENVIRONMENTAL AND FACTOR PAPER 2 ENVIRONMENTAL AND FACTOR PAPER 3 ENVIRONMENTAL AND FACTOR PAPER 4 ENVIRONMENTAL AND FACTOR PAPER 5 ENVIRONMENTAL AND FACTOR PAPER 6 ENVIRONMENTAL AND FACTOR PAPER 7…

    • 2697 Words
    • 11 Pages
    Better Essays
  • Satisfactory Essays

    Question Example

    • 453 Words
    • 2 Pages

    1. Identify and describe the consumer adoption process and its stages. How useful is the consumer adoption process in marketing? Discuss the issues and challenges during…

    • 453 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Envo Factors

    • 376 Words
    • 2 Pages

    Write a 1,050- to 1,400-word paper in which you identify the environmental factors that affect global and domestic marketing decisions. Address the following as they relate to the organization’s marketing decisions:…

    • 376 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Mkx9550 Past Exam

    • 3074 Words
    • 13 Pages

    a) Marketing scholars have developed a stage model of buying decision process. Identify and discuss the five stages consumers pass through using a specific example.…

    • 3074 Words
    • 13 Pages
    Better Essays
  • Better Essays

    Learner name Group 6 Date issue Completion date 10.02.2013 06.04.2013 Qualification Pre‐Master Course (Business Studies)…

    • 4246 Words
    • 17 Pages
    Better Essays
  • Powerful Essays

    The Marketing process is made up of simple concepts that involve lots of research on the part of the marketer. The process begins with understanding the consumer, without knowing what consumers need or want, it would be extremely hard for firms to both develop and sell a product. Knowing that consumers want more green products due to growing environmental concerns is a very important detail. Needs and wants are what fuel consumer purchases and marketers must perform research in order to best serve their customers. Through this research, marketers are led to the next step of the process and can now develop a customer driven marketing strategy. Here, the firm must decide how it will differentiate its product from others on the market. Companies build their marketing strategy in multiple steps and use the Four P’s or marketing mix (Wickipedia, pg 1): Product, Price, Place and Promotion. The “Product” steps has marketers as the questions of; who is your product intended for, what is the benefit of your product to the customer, and how will the product supplier position your product within the market (Learn, pg1). “Price” it’s based on the supply and demand of the product, and must also consider the cost to produce and design of the product (Learn, pg2) as well as the cost to distribute and promote your product (Learn, pg3). “Place” answers the question of distribution and incorporates the idea of right place right time by looking at the different methods or “channels of distribution” (wholesalers, retailers, direct sales and manufacturers) (Learn, pg3). Finally “Promotion” asks how the product is communicated to the consumer – its main focus is to demonstrate the benefits of your product to your “target market” (Learn, pg4). It includes multiple methods including advertising, public relations, sales promotion, personal selling and direct mail (Learn, pg4). Once all of the questions have been answered and the data reviewed, a supplier can develop its marketing…

    • 938 Words
    • 4 Pages
    Powerful Essays
  • Good Essays

    1. Sourabh Bhattacharya (2011) conducted research on “Consumer Attitude Towards Green Marketing In India”. According to him, Marketing is the process which begins with identifying the needs of the consumer and further includes product development, delivering products to the consumer and providing after sales service. The conventional marketing process is not specifically concerned or bothered about environmental safety. The contemporary green marketing concept, on the other hand, analyzes, ecological compatibility of the product. It emphasizes on the formulation of marketing strategies in conformation with environmental safety or protection.…

    • 3154 Words
    • 13 Pages
    Good Essays
  • Powerful Essays

    Green Marketing Examples

    • 2489 Words
    • 10 Pages

    According to the American Marketing Association, green marketing is the marketing of products that are presumed to be environmentally safe. Thus green marketing incorporates a broad range of activities, including product modification, changes to the production process, packaging changes, as well as modifying advertising. Yet defining green marketing is not a simple task where several meanings intersect and contradict each other; an example of this will be the existence of varying social, environmental and retail definitions attached to this term. Other similar terms used are Environmental Marketing and Ecological Marketing. Thus "Green Marketing" refers to holistic marketing concept wherein the production, marketing consumption an disposal of products and services happen in a manner that is less detrimental to the environment with growing awareness about the implications of global warming, non-biodegradable solid waste, harmful impact of pollutants etc., both marketers and consumers are becoming increasingly sensitive to the need for switch in to green products and services. While the shift to "green" may appear to be expensive in the short term, it will definitely prove to be indispensable and advantageous, cost-wise too, in the long run.…

    • 2489 Words
    • 10 Pages
    Powerful Essays