The four P’s product
Marketing is about understanding the customer and ensuring that products are meeting existing and potential customer needs. Marketing is a series of tactics, which help to make a business successful. The basics of marketing that still exist. The four P’s – product, price, place (distribution), and promotion this leads onto strategic thinking segmenting, and targeting which can earn a competitive advantage.
Marketing is a process of determining what customers need and want, and then planning how customer requirements and needs can be obtained and then the implementing of the plans can be carried out. For example a business company will still have products, services, and ideas to sell and will still deliver to customers via some means of distribution. Also they will promote and advertise. One of the key factors in marketing is existence and strength of competitors. Organisations must be ready for competitive organisations they must make sure that any rival competitions do not take advantage by offering lower price or goods which are of the same quality. For example MacDonald’s and KFC. Pizza Hut is the marketing orientated of all pizza retailers because they lead marketing however it can change if a new company comes into direct competition with it.
Marketing involves important management decisions because a successful business cannot afford to lose a lot of money on products, which fail to sell. So it is important that the Marketing is well planned and the decisions are right. Identifying the customer’s needs and opinions must be accurate and reliable because it is the customers who are entitled to the new product. In order for successful marketing a business must anticipate well because customer requirements change all the time, for example releasing a product the same time as competitors. A new product must satisfy the customers otherwise it is not going to be successful. If the marketing is successful it will make more profit and will motivate organisations to supply goods to consumers in a market.
I have already carried out my marketing research and using this data I can clearly tell what customers want. I have identified my customer’s requirements and opinions and will build on from this information. My pizza is going to be unique in its appearance and flavouring although it may taste like any other pizza, This time the customers will have their own choice of what kind of pizzas they would prefer which relates to customer anticipation which changes all the time, If there was only one pizza like cheese and tomatoe it will not appeal to many customers therefore the product would not sell that well. I will have to make sure that the promotion of my product which includes advertising is done to a high standard because advertising is vital.
It is essential that an organisation understands its customers needs for successful sales and profit. Understanding customers needs helps to improve a product. My product is a pizza with different sections of different pizzas. It is important that my pizza sells well. I have not made it a pizza where it has a fixed selection of pizzas; this will not make it suitable for the customers so I have left it up to the customers to choose what type of pizzas they would prefer out of a selection of different pizzas. This way the pizza will appeal to vegetarians. Companies must be ahead of competition so that any competitors fail to succeed in the same targeted market.
Every organisation has constraints. Internal constraints may involve having enough money and capacity to achieve objectives. Sometimes a business may have to sell off other assets to achieve its long term targets. External constraints are when consumers are not interested or when organisations lack in consumers expectation it will make objectives more difficult to achieve, also if there is competition that has an advantage objectives will be at risk. The economy and law also can constrain organisations marketing activities. The objectives for my primary research will be to find out what type of pizza will be ideal for consumers. I will need to find out what type of pizza people like. I will include questions based on their favourite pizzas.
The method that I have decided to use to gather information for my primary research is surveying questionnaires. I will use qualitative and quantitative questions to retrieve accurate information. I will sample 15 questionnaires to people completely randomly. This method is quick and efficient and does not cost much. To ensure that the research reaches a representative group I will sample all age groups. Primary Research Analysis The questionnaires were sampled out to 15 people randomly. The data was collected and represented in graphs. Out of the 15 questionnaires were 8 female and 7 were male.