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Unit - 39 Sales Management

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Introduction

In the modern era, marketing has become of one of the most crucial and important aspects for companies operating in any kind of marketing. Furthermore, marketing has also started to play a very vital role in enhancing the long term sales and profitability of a business enterprise. The key reason behind increasing use of marketing among organizations is that it helps in creating awareness among people regarding the products and services which has been offered by a particular firm (Kumar and et. al. 2011).

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Apart from this, marketing also assist in communicating the fact that why services and products of a particular firm are better than those of other market players. The present research report reflects various elements of marketing process along the cost and benefit linked with the concept of being a marketing oriented firm. Other than this, difference between the concept of international marketing and domestic marketing is also mentioned in the present study. This report also includes explanation of how prices can be set to reflect the objective of a particular business enterprise.

Task 1

(a) Various elements of marketing process and proposed segmentation criteria

The main objective of a business behind carrying out marketing of their products and services is to increase sales and profits by attracting more and more customers. However, it can be argued that carrying out marketing is not an easy task and it is required by organizations to take different elements of marketing process into consideration (Marketing Principles that will Never Change, 2015). The key elements which need to be taken care of by Quality Preserve Ltd. are mentioned below as:

Research of market- It can be defined as the first and foremost element of marketing process and it is also considered as very important one. In order to carry our effective marketing, it is required for companies to carry out appropriate research of the market in order to identify the changing need, demand, taste and preference of potential customers (Lilleker, 2013). On the basis of information gathered effective marketing plans can be developed to attract customers.

Defining target customer– Here, businesses are required to define their key customers whom they can target and attract in order to sell their products and services. Furthermore, defining right target customer helps in providing direction to companies regarding long term sales and profitability (Lusch and Vargo, 2014).

Choosing appropriate marketing mix– In this stage, firms are being required to define 4 major P’s of marketing which are product, price, place and promotion. These elements of marketing mix are being defined on the basis of information collected through market research and nature of target customers.

Implementation and control-It is the last element of marketing process, in which the developed marketing process is implemented in order to achieve desired results (Lichtenstein and Johansson, 2011). In this stage, corrective measures are also taken in case if expected outcomes are not attained.

In terms of proposed segmentation criteria which can be used by Quality Preserve Ltd. for their jams and preserved, it can be stated that demographic segmentation is more effective. The selected business enterprise can segment the entire population on the basis of demographic variable such as income level and can target people in middle income group.

Apart from this, the segmentation criteria that can be used for consumer market and caterer/hotelier market will be completely differs from each other (Pheng and Chuan, 2006). The reason behind this is the nature of two markets is entirely different and there is a huge variation in terms of quantity purchase in each market. in order to carry out targeting for consumer market, Quality Preserve Ltd. can make use of concentrated targeting strategy. As per this strategy, the selected business enterprise will be required to design and implement a promotion message that clearly communicates the benefits of using its products to specific people in middle income group.

(b) Marketing orientation benefits and cost

Marketing orientation can be termed as new concept of marketing in which companies make changes in their products and services on the basis of changing customer demand and need at regular intervals.

The concept is considered to be very beneficial as instead of focusing and offering same services and products, changes are carried out by businesses at frequent intervals. This helps in creating sense of satisfaction among customers and also very important role in attracting desired customers in long term. Another benefit to Quality Preserve Ltd. of being a market oriented company is that the selected business will be able to gain competitive advantage over other business in the market place (Naik, Raman. and Winer, 2005). This will directly results in enhancing the sales and profits of organization and will also assist in sustaining in the marketplace.

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On the contrary of this, it can be argued that being a marketing oriented firm is a very complicated task for businesses as it is a very cost approach. The cost incurred in conducting market research and changes in products at regular intervals is very high and thus, operating cost directly gets enhanced. At the time of carrying out its marketing activities, Quality Preserve Ltd. will be also required to take care of the fact that the marketing practises followed are sustainable and ethical in nature. This will help in carrying out smooth flow of all operations and business practises (Lavie, 2006).

(c) Buyer behaviour in consumer market and caterer/hotelier market

It can be stated that different types of market has different types of buyer behaviour which needs to be taken care of by brand such as Quality Preserve Ltd. The rationale behind this is that behaviour of buyer in market influences the overall marketing activities of a business enterprise to a great extent. For example at the time of marketing its jams and preservers to consumer market, Quality Preserve Ltd. will need to take care of customer need and demand (Jobber and Ellis-Chadwick, 2012). Furthermore, the marketing activities will be carried out on the basis of those identified taste, need and demand.

On the other side of this, at the time of marketing its products to caterer/ hotelier market, the selected business enterprise will have to communicate the key benefit which those hotelier/caterers can have after purchasing the products from Quality Preserve Ltd. In terms of positioning itself in new corporate market, it can be stated that the brand will need to take care of its quality and price (Grünig and Morschett, 2012). This is because of the fact that here, price quality approach of positioning is the best and most effective one.

It can be also asserted that in order to establish itself in the new corporate market, Quality Preserve Ltd. will be required to invest wide range of resources and efforts (Lilleker, 2013). Here, marketing message should clearly communicate the profits and benefits which businesses in corporate market can have after buying the jams and preservers of Quality Preserve Ltd. For example at the time of carrying out marketing, it can offer heave discounts, flexible payment terms, special offers and opportunities to have higher profit margin over the above mentioned two products (Key elements of a successful marketing strategy, 2015). These marketing and positioning efforts are going to support Quality Preserve Ltd. in enhancing its sales and profit volume to a great extent.

Task 2

(c) Macro and micro factors affecting business

In the modern era, there are wide ranges of macro and micro environmental factors which directly or indirectly affect the activities of a business enterprise (Nwankwo and Gbadamosi, 2010). Furthermore, in order to sustain in long run, it is required by business such as Quality Preserve Ltd. to take care of these factors. Some major factors along with their potential impact are mentioned below as:

Political factor – It can be stated that the business practises of Quality Preserve Ltd. are affected by the kind of political environment prevailing in the country. Instable environment affects the sales and operations whereas stable political environment in UK helps the business to carry out smooth flow of all its activities (Pomering, 2014). In situations of high tax rates, the company has to take decision such as lowering down its marketing activities to maintain the overall cost.

Economic factor – Quality Preserve Ltd’s marketing decisions are also affected by the economic condition in the nation. This can be justified by the fact that in situations of higher economic growth, the selected business enterprise can take decision regarding carrying out aggressive marketing to attract more and more customers (Lichtenstein and Johansson, 2011).

Social factors- It can be termed as one of the major and most important factor which has its influence of Quality Preserve Ltd. marketing decision. In order to sustain in market and attract desired number of customers, the selected company needs to make regular modifications in its marketing activities (Jobber and Ellis-Chadwick, 2012). For example if people are getting more influenced from internet and social media marketing then the business is required to implement the same.

Technology factors – High and upgraded technology in a country helps businesses such as Quality Preserve Ltd. to carry out desired marketing activities (Ivy, 2008). On the other side of this, low rate of technological advancements in a country force the firm to restrict its marketing practises to a certain extent.

Employee – It is the micro environmental factor which is present within the business enterprise. It can be stated that in situations where highly skilled and productive employees are present, Quality Preserve Ltd. can take decision to carry out marketing as per requirement and latest trends (Goi, 2009). On the other hand, if skilled workers are not present then the company may start facing challenges in conducting desired marketing activities of all its products.

(d) Product development to gain competitive advantage

In simpler terms, competitive advantage can be termed as situation in which people in the market prefer to buy products and services of a particular company over other brands available in the marketplace (Oly Ndubisi, 2007). Furthermore, such kind of situation is desired by every business enterprise as it directly contributes to long term sales and profitability. However, it can be critically argued that getting competitive advantage over other companies is not an easy task and organizations are required to put wide range of efforts and resources in order to achieve the same. In order to gain competitive advantage, Quality Preserve Ltd. can make use of process which starts with generating idea of developing a product which is innovative and unique in its own terms (Cousins, 2005). After this, screening of idea can be done in order to identify whether it is feasible or not.

On the basis of information gathered, process of product development can be started. Furthermore, a test product can be launched in the market with an objective to gain information about the fact that whether people in the market are accepting the product or not (Srinivasan and Hanssens, 2009). At last, Quality Preserve Ltd. can develop and launch its products in the market. Apart from this, competitive advantage can be also gained by conducting effective market research and competitor analysis. This will help identification of market gap by getting information about customer demand and what the key market players are offering. Quality Preserve Ltd. can develop products on the basis of market gap and can get competitive advantage over other companies which deals in jams and preservers.

(e) Carrying out distribution of products for customer convenience

Distribution can be termed as the process through which products and services developed are being supplied and provided to the ultimate consumer of the same. In the last few years, effective distribution has started to play very important role in acquiring higher degree of customer satisfaction (Nwankwo and Gbadamosi, 2010). This is because of the fact that delivering required product/ services on right time helps in developing sense of satisfaction among customers and also encourages people in the market to stay loyal towards a particular brand. Quality Preserve Ltd. is required to take care of customer convenience in order to sustain in the marketplace and for this purpose, it has to lay emphasis on its channels of distribution (Lavie, 2006). It can be stated that it is more beneficial for the brand to focus on direct channels instead of concentrating upon indirect channels for distribution of all its products. Here, both online and offline channels can be used by the selected business enterprise to take care of customer convenience.

The brand can developed its own website and make use of online platform to display and sell its jams and preservers. On the other side, own stores can be opened in different locations of UK so that customers and corporate clients do not face any kind of issue of difficulty in buying its products (Naik, Raman and Winer, 2005). It can be also stated that the use of both channels of product distribution is going to contribute in long term success and growth of Quality Preserve Ltd.

(f) Setting up prices to reflect organization’s objectives

Objectives are very important for a business enterprise as they provide appropriate and right direction towards growth and development. It can be stated that in order to achieve business objectives, it is required by companies to select and implement appropriate pricing strategy (Kuratko, 2013). For a company like Quality Preserve Ltd. business objective is to increase its sales by 10% every year and enhance its existing market share by 25% by the end of coming two years. For this purpose, the selected business enterprise can make use of low price strategy. This is the most appropriate and suitable strategy as per the nature of objectives developed by Quality Preserve Ltd. Low prices will help the selected business to attract more and more customers and create a sense of satisfaction among them.

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Other than this, it will also assist in enhancing the existing market share (Grünig and Morschett, 2012). However, it can be critically argued that selling products such as jams, chutneys, preservers at low prices is not an easy task. It will be required by Quality Preserve Ltd. to always take care of its operational cost and try to maintain the same as low as it can be possible. Along with this, setting up low prices in order to achieve the above mentioned business objective will also encourage the selected organization to carry operate with a relatively low profit margin (Kumar and et. al. 2011).

On the other side of this, if the objective of company is to develop and enhance its brand image, it can make use of high price strategy (Gielens and Geyskens, 2012). The rationale behind this is that the use of high price will force people in the market to start perceiving the fact that jams preservers and chutneys of Quality Preserve Ltd. are really made up of very high quality. This will support in developing strong brand image and achieve the objectives which have been developed by Quality Preserve Ltd.

(g) Promotion activity to achieve marketing objectives

Promotion can be defined as an activity which is used by companies with the objective to make people aware about the services and products which has been delivered by them (Srinivasan and Hanssens, 2009). In the modern era, promotional activities of companies are playing very important and one of the most crucial role in attracting desired customers and earning higher profits. At the time of carrying out such activities, it is required by businesses to choose appropriate techniques which can be based on objectives and nature of product.

The objective of Quality Preserve Ltd. is to gain adequate market share and emerge as a strong brand in the market (Cousins, 2005). For this purpose, it can start making use of promotional techniques such as discounts and special offers on all its key products. This will help in creating need among customers and will also encourage more and more customers to buy the products offered by Quality Preserve Ltd. On the other side of this, the firm can also start making use of activities such as carrying out promotional events near shopping malls and other related public places (Sheth and Sisodia, 2015).

In order to achieve its entire marketing objective, the selected business enterprise can make use of both modern and traditional technique of promotion. For example it can start focusing upon modern techniques such as email, internet and social media marketing. Here, official pages can be developed over social media in order to make mass people aware about the nature, characteristics and benefits associated with the products which have been offered by Quality Preserve Ltd. In order to achieve its marketing objectives, the cited firm can also make use of email and internet (Pomering, 2014). It can be stated that instead of focusing on single promotional activity or tool, it is more beneficial for the company to make use of different tools and techniques to accomplish all its marketing objectives in the best possible manner.

(h) Additional elements of extended marketing mix

In simpler terms, marketing mix can be defined as the mix of different elements which helps a business enterprise to achieve all its objectives. Furthermore, there was a time when marketing mix of companies was used to include four major elements which were product, price, place and promotion. In order to carry out smooth flow of all operations and activities, it was required by companies to lay emphasis on all above mentioned four elements (Oly Ndubisi, 2007). However, it can be critically argued that along with the passage of time, changes has been occurred in the marketing mix elements and now they have extended to total 7 P’s of marketing from 4 P’s. The additional three P’s includes process, physical evidence and people upon which Quality Preserve Ltd. is required to focus.

At the time of carrying out its business practises, the selected business enterprise is required to lay emphasis on the fact that effective process of production has been developed. This will support in developing and delivering the best quality of jams and preservers (Pheng and Chuan, 2006). Furthermore, the brand will be also required to carry out changes and modification in its process as per changing market trends and changes in the field of technology. Apart from this, physical evidence is another major element of marketing mix which needs to be taken care of by Quality Preserve Ltd. The physical evidence of company can be the quality of its products and services which satisfy the need and demand of different people in the marketplace (Nwankwo and Gbadamosi, 2010). Furthermore, it will be required by the selected business enterprise to develop effective quality management systems and make regular efforts for carrying out improvements in quality of products such as preservers, jams and chutneys. Last but on the least element of extended marketing mix is associated with people working in the small business enterprise.

The company is required to ensure the fact that skilled and productive workforce is used to carry out business practises (Naik, Raman and Winer, 2005). Here, Quality Preserve Ltd. can use effective training and development program in order to make its people more productive and efficient. It can be stated that with the help of training programs skill set and knowledge base of employees can be enhanced and this will directly contribute in the long term success of Quality Preserve Ltd.

Task 3

(a) Two different types of marketing mix which can be used

In order to target and attract people or clients from two different market segments, the marketing mixes which can be used are mentioned below as:

Marketing mix for middle income group

This segment of market will consists of people which fall under the category of middle income group. Here, the product can be jams, chutneys and preservers which are manufactured by Quality Preserve Ltd. Furthermore, a moderate price strategy can be used by the selected business enterprise in order to attract people from the above mentioned market segment. Lucrative can be used as the place from where all the related products and services can be offered and distributed to people in the market (Lusch and Vargo, 2014). In terms of promotion, it can be stated that both online and offline channels of promotion can be used by the business. It will help in creating need among people in the market and will also play a very vital role in attracting them to buy the products offered b y Quality Preserve Ltd.

Marketing mix for other retail businesses

It is another potential market segment which can be targeted by the selected business enterprise with an objective to sell its products. Here, the products can be jams, chutneys and preservers in very big quantity or volume (Naik, Raman and Winer, 2005). In context of the pricing policy used, it can be asserted that here a low price strategy is more suitable for carrying out business practises with other small and big firms. This will attract them as they will be reselling the products in appropriate profit margin.

The place from where products and services can be delivered to this market segment can be both online and offline platforms (Lilleker, 2013). The selected business enterprise can offer its products to dealers and other business clients through its online stores and with the help of lucrative stores. Apart from this, email marketing, social media and internet are the different channels which can be used for carrying out promotion of Quality Preserve Ltd. among corporate clients and other retail businesses.

Difference between marketing to B2B and B2C

It can be expressed that marketing products and services to consumers is completely different from that of other businesses. For example in B2C marketing is kind of entertainment and deals driven whereas B2B marketing is driven logically and rationally (Lichtenstein and Johansson, 2011). Other than this, a very detailed content is required for carrying out B2B marketing and this is not the same in case of B2C marketing activities. At the time of carrying out B2B marketing, companies lays emphasis on increasing sales and profits whereas while conducting B2C marketing, the main objective of businesses is to develop and maintain long term relationship.

(b) Difference between international and domestic marketing

The main and most common objective of organizations behind carrying out their marketing activities is to enhance the volume of their sales and profits (Kuratko, 2013). However, it can be critically argued that when it comes to marketing product and services internationally, there are certain areas where marketing concept changes. The key difference between international and domestic marketing is mentioned below in table as:

Basis of comparison

Domestic marketing

International marketing

Definition

In simpler terms, domestic marketing can be defined as a process in which different tools and techniques are used by companies to create awareness among customers in domestic market or a particular nation.

International marketing can be defined as the process in which the use of marketing tools and techniques is carried out to create awareness outside the domestic boundaries of a nation (Kumar and et. al. 2011).

Role of government

At the time of carrying out domestic marketing activities, the role played by government is very less

It can be stated that government start playing important role in context of international marketing activities (Gielens and Geyskens, 2012)

Use of technology

The use of technology in context of domestic marketing can be termed as very limited

In terms of international marketing, the use of technology becomes very essential

Risk associated

The risk associated in carrying out domestic marketing practises is very less as businesses are well aware of market trends and customer needs (Jobber and Ellis-Chadwick 2012)

The risk linked with international marketing is very high as the need of customer and market trends changes drastically.

Conclusion

From the above carried out research, it can be concluded that at the time of carrying our marketing activities, it is required by businesses to lay emphasis on customer need and demand which tends to change at regular intervals. It can be also inferred that in order to sustain in long run and achieve desired profits, companies such as Quality Preserve Ltd. needs to focus upon all the major elements of marketing mix. From the above study, it can be also concluded that the concept of international marketing is completely different from that of domestic marketing. In order to increase its sales and profits, Quality Preserve Ltd. can make use of both modern and traditional marketing tools.

References

  • Cousins, P. D., 2005. The alignment of appropriate firm and supply strategies for competitive advantage. International Journal of Operations and production management.25(5). pp. 403-428.
  • Gielens, K. and Geyskens, I., 2012. 8 The marketing–finance interface in channels of distribution research: a roadmap for future research. In Handbook of Marketing and Finance. Edward Elgar Publishing. pp. 204-224
  • Goi, C.L., 2009. A review of marketing mix: 4Ps or more?. International Journal of Marketing Studies. 1(1). pp.2.
  • Grünig, R. and Morschett, D., 2012. Determining the level of standardization and differentiation of market offers. In Developing International Strategies. Springer Berlin Heidelberg. pp. 273-296
  • Ivy, J., 2008. A new higher education marketing mix: the 7Ps for MBA marketing. International Journal of educational management. 22(4). pp.288-299.
  • Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing. McGraw-Hill Higher Education.
  • Kumar, V. and et. al., 2011. Is market orientation a source of sustainable competitive advantage or simply the cost of competing?. Journal of Marketing.75(1). pp. 16-30.
  • Kuratko, D., 2013. Entrepreneurship: Theory, process, and practice. Cengage Learning.
  • Lavie, D., 2006. The competitive advantage of interconnected firms: An extension of the resource-based view. Academy of management review.31(3). pp. 638-658.
  • Lichtenstein, N. and Johansson, E., 2011. Creating hourly careers: a new vision for Walmart and the country. Rapport pour l’organisation Jobs with Justice.
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