How the 4P’s will influence the marketing of an establishment Essay
An appropriate combination of these four variables will help to influence demand. The problem facing small businesses is that they sometimes do not feel able to sufficiently control each of the four variables in order to influence demand as much as they would like to. This is what can be offered to a market for attention, acquisition, use or consumption. Strategies determine the benefits that customers will secure from their purchase. These strategies can be categorized into two headings, product growth strategy and competitive product strategy.
PRODUCT GROWTH STRATEGY Normally intended at producing a better or different product to increase the establishment’s opportunities for increased market potential, by attracting either a new or different customer. The corporate objective of this strategy is to either improve sales figures or to achieve greater profit contributions. COMPETITIVE PRODUCT STRATEGY this aims to retain current customers by off setting activity with either a different or improved product. The place is where the final exchange occurs between seller and customer.
Decisions have to be made about distribution channels and whether or not these enhance the products image, the wrong distribution channel can have a market effect upon the perception of quality, therefore, the goods have to be
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The term marketing research has gained favor in the past and is an all embracing phrase to include product research, promotion research and price research. Research into customers is rightly called market research. Market research data, from whatever source is invaluable to the manager in providing a sound base on which effective marketing decisions can be made. All small businesses need feedback from their customers and many will want to know why people are not using their facilities but prefer what a competitor is providing.
It is the job of market research to provide such data in as objective form as possible (with no bias). Not all market research is a costly or complicated affair. Small businesses will constantly get informal feedback from their customers on their opinions of the products and service level and will then make the necessary adjustments With the proposed business in mind an amalgamation of product and market orientated research should be carried out.
As there are already well-established coffee and sandwich bars within the lace market it is crucial that the business has the right idea of what the market wants, they must investigate existing products in order to find a gap or niche in the market. This would give the business a chance when it comes to attracting customers and maintaining a loyal customer base. The use of secondary and primary research would allow the business to analyze the existing market and what is going on within it.
Face to face campaigning on the chosen ideas will also give a specific idea as to whether customers could be persuaded to visit the business. The town and country planning act imposes control over the use to which land and property are put. Control is vested in local planning authorities, which are under a duty to ensure that all land and property within the area is used for the best possible purposes in view of the shortage of land and the needs of the community. The act relates to the development of the land, which encompasses buildings etc.
or any material change in the use of land or building. Developments like this cannot be started without permission being granted by the local planning authority. Planning permission is required for internal and/or external alterations that change the function of the premises. When planning permission is required an architect must be instructed to draw complete plans of the proposed work. The plans are then submitted to the local authority officials who will check if the work is being carried out according to the plans.
If planning permission is not sought prior to work commencing, an enforcement notice will be served requesting that the developer return the building to its original condition. Where the premises include listed buildings or are situated in a conservation area, there is a separate system of control in place. This control system imposed by the Planning Act 1990 states that advice must be sought from a solicitor before any demolition or alteration commences.