Aspects Of Contract And Negligence For Business
Marketing is one of the most important processes of the organisation as it increases the success rate of the product produced by the organisation by identifying the exact need of the customers present in the market. In the other words, the term marketing is basically a form of communication between the customer and organisation in which the organisation wants to sell the product to customers for the purpose of gaining profit and customer wants to buy the product to satisfy his or her needs. The main concept of marketing is to communicate the right message to the right customers so that they can purchase the goods or services according to their needs. The process of marketing includes various concepts such as buying behaviour, segmentation, targeting etc. For the better understanding of the concepts of marketing and its principles, I am taking the case study of “Appy food and drinks”.
Task 1 Process of Marketing
1.1 Explain the various elements of the marketing process with suitable examples from Appy foods and drinks.
Marketing is a term that helps the organisation in satisfying the exact need of the customers and this can’t be possible without a deep analysis and research on the market and customers. Thus, the process of marketing includes the following steps:
Setting of objectives: this is the important step of the marketing process as it defines the main motive of the organisation to be in the market as in the case of Appy foods and drinks, the main motive of the organisation is to keep the children and families happy and healthier.
Situation Analysis:Once the objective is defined, then it is very important for the organisation to analyse the situations and conditions of the market with the help of market research (to identify the capabilities of market), customer analysis (to identify the need and wants of customers) and competitor analysis (to identify the strength of competitors) (Huang & Sarigollo, 2012). Following are some other analyses that are also included in situation analysis:
- SWOT Analysis: SWOT analysis done by the McDonald is explained in the following diagram: