Key questions from this lesson: - What is effective marketing? What is the purpose of marketing What is the difference between consumer and business to business marketing? The Marketing Process Marketing Definitions Marketing is about supplying the right products, to the right customers, at the right price, in the right place, at the right time. Devise/Analyse marketing strategy Re-assess consumer reaction/sales levels Monitor consumer reaction/sales performance The basic function of marketing is to attract and retain customers at a profit Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organisational objectives. The purpose of ‘Marketing is to establish, maintain and enhance long term customer relationships at a profit, so that the objectives of the parties involved are met. This is done by mutual exchange and fulfilment of promises. If necessary adapt marketing strategy Effective Marketing will have certain features; ü A process ü A business philosophy ü Building relationships with customers Levens Farm is a fruit farm in Sussex. It allows customers to ‘pick your own fruit’. But increasingly it is selling to retailers, encouraged by the news that Britain is fast becoming a nation of berry lovers. Sales of British strawberries, blackberries and raspberries broke records in 2007 and many suppliers were struggling to keep up with demand. The soft fruits, which are credited with staving off cancer, saw sales of £204 million in the UK. ‘It’s because people are becoming more aware of the health benefits of eating fresh fruit, especially berries’, said Laurence Olins, the chairman of british Summer Fruits (BSF), which represents nearly all of Britain’s soft fruit growers. Strawberry sales accounted for £165 million, a 5 per cent sales increase for the previous year. In comparison, sales of blackberries shot up by 31% to £4 million while raspberry sales were up 26% to £35 million. Such is the demand that none of Britain’s home-grown fruit is exported. And in July and August, when demand was at its highest, berries had to be imported from Europe. (a) Explain why Levens Farm is selling to (i) consumer markets and (ii) business to business markets. (b) Explain how the information in the article might help Levens Farm to; (i) identify customer requirements, (ii) anticipate customer requirements; (ii) make a profit. Research Task - Choose one business and complete some research into their marketing strategies. Detail how they have anticipated and identified consumer requirements, satisfy their customers, compete effectively and make a profit Produce a report on the brand using the above as guidance.
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