Principle Of Marketing Analysis Essay Example

very vast.

The concept of marketing can't be possible to explain in an assignment or in a report. It concept area is very vast and very important. In shortly, we say about marketing concept that to gain competitive advantage in proportion with competitors and to achieve organization goal and objective, business organization helps to marketing. Various marketing researchers define marketing elements in many ways. If we sort out various element, we make a conclusion that marketing element compile with 4(P). Product Price Place Promotion Product is very important element. The producers should manufacture product with the want of consumers.

In this assignment, we discuss Boots Company and their production methods, which are influenced by customer demand. They incorporate various facilities into their products to enhance convenience. Price setting is an essential factor, and the marketing manager must consider market conditions when making pricing decisions. Price can be set to retain market share or to maximize profit. The concept of "place" refers to the location where buyers and sellers agree to conduct transactions. It is crucial to determine a place where buyers can easily purchase the product.

Promotion involves improving the company's current position. If a company remains stagnant for too long, it may fail and be forced to close. Therefore, every company strives to promote its current position. The benefits and costs of a marketing orientation for Boots need to be evaluated. Evaluating the marketing objectives of Boots involves assessing their effectiveness for the organization. To measure this, the company undergoes an evaluation process.

The evaluation process includes examining Boots' sales figures to determine if they are increasing.

By assessing a company's sales, the organization can

easily determine if its marketing objective is feasible or not. The satisfaction of customers is crucial for the success of a business, as affirmed by Boots clients who consider consumers to be the heart of the company. If the customers respond positively to the company's advertising or promotional activities, it indicates that the company is on the right track. In cases where there is no direct response, certain actions need to be taken to increase public feedback. It is important for Boots to advertise in the appropriate media channels, such as those frequented by coffee consumers. Utilizing a hotlist service can help address any product-related issues and provide solutions. The company should utilize multiple communication channels like Facebook, email, phone calls, and website interactions. The networking activities of Boots can open up new opportunities for its customers, making networking crucial for organizational success. Failure to communicate effectively can render all efforts in vain, reinforcing the need for an efficient networking system. Checking the sale conversion rate of Boots is essential and can be done by examining historical records to determine if improvements have been made. [Skinner, T. And Bernhard, K. (1983.]The discussion focuses on how marketing objectives help Boots in developing their marketing strategy. By evaluating these objectives, the company can identify their target market. This knowledge then enables the Boots marketing manager to easily devise a marketing strategy. Additionally, evaluating marketing objectives allows the Boots Company to determine the execution of external and internal activities. Various tools are utilized during this evaluation process to create an effective marketing strategy.

One advantage of evaluating marketing objectives is the contribution it makes towards benefiting the cost. Another

advantage is improving customer satisfaction through information collected from customers. By implementing customer suggestions, the company is able to meet their needs and desires. Furthermore, by understanding product aspects from their customers' perspective, the Boots Company can produce goods that align with customer expectations and desired quality.

Evaluating marketing strategies also contributes to relationship marketing as the marketing manager must communicate with different individuals involved in the process. To conclude, the concepts of segmentation, targeting, and positioning are essential in this discussion.The macro and micro environmental factors that influence marketing decisions for Boots are crucial for the company's success. Understanding these factors is essential in order to remain competitive. As a leading company, Boots must have thorough knowledge of the macro and micro environmental influences on its marketing decisions.

In terms of micro environment, which refers to factors closely related to the company, Boots focuses on winning the hearts of its customers. This is achieved through a marketing policy that takes into account the preferences of individual customers. Boots also aims to outperform its competitors by carefully examining products from various angles before introducing them to the market. Additionally, Boots ensures that its products are easily accessible to customers by distributing them strategically. This is exemplified by the company's extensive network of over 16,706 stores, which allows customers to find their desired coffee product conveniently nationwide.Macro Factors: The environment that primarily impacts Boots' marketing policy includes the following factors: Technological and Political. Technological advancements have led to significant changes in the marketing strategies of Boots. In today's era, known as the technological age, Boots has developed a strategic approach to incorporate technology. This includes providing an

online shopping system for customers to easily purchase their products. The political environment also plays a crucial role in shaping Boots' marketing policies. As an international business, Boots formulates its marketing strategy based on the rules and regulations set by different political parties in different countries. It also considers domestic political factors. Additionally, the economic environment influences Boots' marketing strategy. They adapt and modify their approach based on economic conditions, such as providing compensation to farmers during times of economic crisis. To solidify its position in the market, Boots should prioritize these micro and macro elements when creating their marketing strategy.

2. Segmentation Criteria for Boots: Segmentation is the process of dividing a market into smaller sub-groups based on defining characteristics of customers. Marketing managers use various criteria for segmentation. After evaluating all factors, two segmentation criteria are most applicable for Boots:

- Technological Segment: Given the significance of technology in shaping Boots' marketing policies, segmenting the market based on customers' technology preferences would be effective. This can involve targeting customers who are tech-savvy and prefer online shopping systems.

- Political Segment: As politics play a significant role in Boots' marketing strategy, segmenting the market based on political factors would be relevant. This can involve targeting customers who align with specific political parties or values that Boots supports.

By utilizing these segmentation criteria, Boots can better tailor their marketing efforts and effectively reach their target customers.Organizational Size: The category of organizational size is a critical factor in segmenting the Boots Company. They operate in numerous countries worldwide.

Consequently, they must determine which countries are most profitable and where they should primarily conduct their business. This decision should be

informed by a thorough evaluation of both the macro and micro environments, as these environments significantly impact organizational success.

Benefit Segmentation: Benefit segmentation, which refers to the discrepancy between a product's cost and the satisfaction derived from it, is another crucial segmentation aspect for Boots. The company consistently endeavors to provide maximum benefits to their customers by offering desired products.

A Range of Products and Services Offered by Boots: One targeting strategy employed by Boots is product discounting. They offer a 10% discount on their products, increasing sales. Additionally, customers who purchase multiple items receive one or two free products as an incentive to buy more. The company identifies loyal customers and provides them with extra discounts, helping to cultivate customer loyalty. Satisfied loyal customers serve as advocates for Boots products, influencing others to make purchases.

The best targeting strategy for the Boots Company is analyzing its customers and the factors that influence their buying decisions. One important factor is customer treatment, where proper service from company employees inspires customers to purchase their products. Customers who receive friendly and cordial treatment are more likely to buy from the company. Another factor is store design and layout, where an attractive display of products encourages customers to make a purchase. Creating a nice environment and using appealing posters outside the coffee shop can entice customers to buy their products. In proposing a new positioning, it involves determining the problem or opportunity of the product or service and informing customers about its features and attributes through advertising and promotion.

When a company positions a new product, it is crucial to inform customers about its features. Another important task is

identifying the problems and opportunities for the product, which requires mandatory marketing research. Through research, Boots Company can determine the problems with their new products and make decisions on how to address them.

There are six basic strategies for product positioning: by attribute or benefit, by user, by use or application, by product or service class, by competitors, and by price or quality. Understanding the individual elements of the extended marketing mix is essential.

Products development is a key factor in sustaining a competitive advantage. If a company fails to produce demanded goods or products, other strategies will be ineffective and the company may lose its competitive advantage to its competitors.

Competitive advantage means achieving a leading position in the market by offering superior goods or products at a lower price than competitors while differentiating them in terms of size, quality, or standards. Boots can develop its products by obtaining customer feedback to understand their preferences and produce products that meet their needs.Then Boots can strive to differentiate its products and offer them at a lower price than its competitors. The company can introduce new products that cater to the needs of customers, particularly in the skin care department. Giving importance to the research department, Boots can also gather products from its competitors and study them in order to create products that provide greater value to customers at a lower price. By engaging in these activities, Boots can enhance its existing products and gain a competitive advantage over its rivals, allowing it to dominate the market.

The success of an organization depends on how it distributes its products to customers. Distribution involves providing products to customers at the right

time and in convenient locations. To ensure customer convenience, Boots arranges its distribution in the following way: products are organized based on their nature and customer type. For example, there are separate selling units for healthcare and pharmacy products, making it easier for customers to find and purchase what they need.

Boots also utilizes modern technology in its distribution system. It offers online selling, allowing customers to place orders through the internet.Boots focuses on providing home delivery to its customers, prioritizing customer convenience. To ensure easy access to their products, Boots has expanded its outlets with more than 1400 pharmacies in prime locations across the UK. In addition, Boots may utilize skilled middlemen and direct selling methods in their distribution process to further enhance customer convenience.

The pricing system is an important aspect of the marketing mix, as it determines the amount customers will pay for products or services. To achieve profit objectives, the company sets prices based on economic factors and the current market situation. Since pricing greatly influences customer purchasing decisions and most of the profits come from sales, Boots can assign the responsibility of setting prices to the marketing and sales departments instead of the financial department.

These departments have direct contact with customers and possess knowledge of the current market conditions. Thus, they are better equipped to establish a pricing system that satisfies customers while aligning with the organization's objectives. Additionally, Boots can consider competition in determining its prices. If there are no other market players, Boots has the freedom to set prices according to its own discretion.But Boots has been facing increased competition from various areas of the market. Boots needs to consider

its pricing strategy carefully, as setting high prices could result in losing its current position to competitors. To combat this, Boots can implement a value-based and affordable pricing strategy, showing that it is willing to offer products at reasonable prices to customers. This will help build customer loyalty and maintain the company's reputation. Ultimately, this will help Boots achieve its organizational objectives and succeed in the market. Promotional activities are essential in achieving marketing objectives and supporting marketing efforts. These activities aim to inform consumers about the products and their quality. The company engages with both suppliers and consumers to target specific market segments effectively. Mass media, public relations departments, and other sources can assist the company in disseminating information.

In Boots' promotional activities, it utilizes advertising, publicity, personal selling, and sales promotion to inform customers about their products. They use newspaper, cinema, television, and mass media for advertising purposes. Their goal is to raise awareness among customers. Publicity aims to capture the attention of the public towards the company's products. Personal selling is important to maintain good relationships with customers by training employees to cater to customer demands. Sales promotions such as discounts, free gifts, and samples are also used to increase product sales. These promotional activities are aimed at achieving Boots' marketing objectives and goals for targeted markets. In addition to these activities, Boots utilizes additional elements of the extended marketing mix for a competitive advantage.

Boots aims to retain its position by ensuring customer satisfaction and having customer-oriented employees. To achieve this, Boots has implemented various strategies including employing customer and patient-focused staff, providing standard and unique uniforms for easy identification, and employing

part-time employees to better serve consumers. In addition, Boots follows different processing policies to maintain its trusted heritage and unique characteristics in the eyes of consumers. They also prioritize the physical aspects of service by offering clean outlets, providing product sales receipts, and having an information desk for customers to seek guidance on suitable drugs or skincare products. The appearance and attitude of employees also play a significant role in shaping consumer perception of the products. Moreover, marketing mix assists Boots in effectively targeting and serving different consumer segments. For instance, Boots could plan marketing mixes specifically tailored for the elderly's healthcare needs as a new market segmentation approach.Most companies focus on the young generation, but there are only a few companies that operate in this field. The second market segmentation involves distributing pharmacy products in underdeveloped rural areas. Boots can plan their marketing mix for this by developing new products for the elderly based on their needs. They can also utilize their existing popular products for this segment. For pricing, Boots can set reasonable prices that are easily affordable for the targeted customers. In addition, they can offer drugs in different sizes and prices based on the purchasing power of customers in the rural areas. Boots also needs to make their products easily accessible to customers by storing them in outlets. Finally, promotional activities such as advertisements or leveraging their reputation should be implemented to inform customers about the products.If Boots successfully implements these new segments, it will create new opportunities for itself. This will result in satisfied and loyal customers who will receive exceptional service and products beyond their expectations.

Illustrating differences in marketing

products and services to businesses rather than consumers can be seen as a business-to-business activity. The main task of the company is to deliver products to other organizations. On the other hand, marketing to the ultimate consumers for whom the products are produced is considered as business-to-consumer marketing.

There are significant disparities between marketing products and services to businesses and consumers. In business-to-business marketing, organizations prioritize promotional activities and create diverse strategies to gain a competitive advantage over competitors, government entities, and small organizations.

In this approach, companies produce standard products and offer them at lower prices compared to their competitors for other business organizations. In contrast, when marketing to consumers, companies prioritize consumer demands and consider consumers as the final decision-makers who will use the products.In this marketing strategy, the company aims to communicate and negotiate with the consumer, applying their demands in the entire market to achieve its goals and objectives. International marketing differs from domestic marketing, as customer needs and demands vary across different countries due to demographic changes, behavior, and culture. Therefore, the company must formulate different strategies in international marketing to cater to these diverse needs. Additionally, in international markets, organizations must comply with regulations such as exchange control, customs duties, and international market rules.The organization develops different strategies in international marketing compared to domestic marketing. As a global player, Boots also creates distinct marketing strategies. For instance, Boots merges with Alliance Niches, its rival, in order to successfully operate in the international market. In conclusion, a strong marketing strategy is crucial for profit-making. Therefore, as a leading company, Boots must develop its marketing strategy and integrate various marketing tactics to handle

the current market conditions, dominate the beauty and healthcare market, and satisfy customers' demands.