There are various theories in regards to marketing and the techniques used out of the various techniques different businesses choose different theories to take on board which depends on the culture and traditions of business. Factors such as legislation and ethical morals might also affect how a business might use market techniques. The following are some of the techniques: Growth strategies Igor Anions created one of best-known descriptions of the strategies available for growing a business in 1957.
He identified four categories for growth. Market Penetration: a Market is group of customers who may purchase a product, so or example if Apple were producing APS for the phone or pod their market would be anybody who owned an Pod or an phone. They can increase the number of people In the market who bought their product. Market development: If Apple already sold APS in the united States, to introduce it to the united Kingdom, they would be marketing to an existing product too new market.
Product Development: This is when Apple markets a new product to the existing customers for example in the States people already bought the Apple phone they may decide bring out a new version of that phone with more functions and facilities. Diversification: Apple may wish bring out a new product completely different from the Pod or the Phone which it will market to a completely new group of people - a new market. 1. 1 Internal planning factors These relate to the events and schemes that are happening inside the business.
These schemes may be designed to help employees learn new skills to developing technologies or train a staff to use a new piece of software. It Is also the method of being aware of the new skills that will be required in the future or the ones that are already required by current staff and how or what ethos could be used to train the staff to acquire these methods. This is also way of measuring the gap space between the skills that are already available and the ones that will be required in the future.
Marketing objectives Marketing objectives will most of the time be different from a businesses objectives. They both will usually be SMART. The objectives will be concentrated more on other issues other than survival and growth. It is possible that in order for the business's overall objectives are to be achieved, the marketing objectives need to be achieved first. Figures. They want to make sure they sell enough products to keep the company going. Once the company is going and running successfully they will no longer require the sale of one product to generate income.
They will have different objectives this will include being the market-product leaders. Jaguar car - F-type: The initial marketing objective would be to sell enough of the cars to make the rest of the customer group aware of the existent of the product. A car may be advertised but its beauty and performance may not be well thought of until they are seen being driven on an every route. Market leadership This is when a product has the greatest market share in a given market for goods and services. This is measured by the number of products sold and the value of these products and services.
Apple phone: Amongst their primary aims throughout the year 2012 is to become the market leader in selling smart phones although Samsung is playing a close battle. They have schemes which will enable them to be the market leader such as continuously year-after-year modifying their product - adding several new designs and features to their product. Adding competitive led features enables them to stay at the forefront of creating a rater and viable atmosphere in the world of smart phone war making sure their rivals have little confidence in presenting their product.
Jaguar car - F-type: The Company has a great reputation in terms of sleek, business- like car designs befitting the personality of their drivers. They endeavor to bring well performing cars to the market. Their primary aims are to provide competitive yet valued cars to the world's motor industry. Every year they aim to bring out a new product which will shake the thoughts and influence the minds of mid-aged drivers to buy their product. Brand awareness Nearly all businesses will attempt to showcase their brand and make sure they are their customers are fully aware of the product.
Apple phone: Apple will always make sure they are making familiar their products to the new and younger generations at the same time increasing the brand awareness. Many other companies have unsuccessfully tried to embed certain features of the Apple design. As the product becomes so much the trend in our society, people will seek the product more and refer to the product by the company's name rather than the product code etc. Apple phone can be considered a brand of its own within the many.
Jaguar car - F-type: Due to the reputation of the firm the general public already refer to the cars by the company name rather than the product name because it provides such lead in that particular market area. Jaguar has inevitably tried and at several cases accomplished to increase the brand awareness. For example during 2009 the company had used a very uncommon (at the time) campaign to raise the brand awareness which was they had themed airports and trains stations with the logo and images of the company all over the buildings and pathways.
Perceptions of customers or users The way the customer perceives a company is very important because it influences what they buy and where they but it. Apple phone: Although Apple is perceived to be very efficient providing quality goods however they carry a price tag that is afforded only by those who have a good level of disposable income. Customers who wish to buy a product will most of the time seek to buy Apples products because they are perceived by the entire society as a company which provides quality goods.
However, people who may not have the disposable income will seek out for the more affordable product which may not be as reliable as Apple's. Jaguar car - F-type: The design, the level of service they provide will influence how customers perceive them. The strategies maintained by them in terms of providing finance services etc will always make them the company to look out for because they don't only sell the car to you, they also sell their services which many drivers will want.
Link between organizational objectives and marketing objectives There should always be a link between the organizational objectives and marketing, at no point should there ever be a contradiction between the two. If one of the objectives is more firm than the other it will help the other develop hat can be learnt. Apple phone: The overall organizational objective of Apple is to make and provide the best of electrical products to the market at the same time make a profit which is sustainable. They have linked this objective with the marketing objective to reinforce the campaigns.
The organizational objective is there to drive the rest of the objectives and motivate those who are working towards achieving such goals. Jaguar car - F-type: The organizational objective of Jaguar is to provide high- performing cars that are at time cost-effective. They are aimed at those who have a good level of disposable income. Marketing techniques available At the start of a new venture businesses will try their best to survive if that is successfully achieved they will move onto a new objectives such as growing the business.
Growing the business will require several types of strategies put into place in order to drive the growth of the business. We will now discuss how Apple and Jaguar use various strategies to grow their business. Apple phone: Market penetration: This is where Apple will try to sell products such as Music from the tunes and Polyester to Apple product owners such as Apple phone, pod pad etc. Market development: Apple markets their product such as Music from the tunes to new group of audience; the product remains the same however the market audience has changed.
Product development: This is where Apple has in the past created a new product and marketed to the existing market. Diversification: Apple in the future is planning to develop a very famous Apple product - the pad - as a mini product and sell it to a new market which they think will diversify the entire Apple market and will make them the market leaders. Strategies and seeks to sell their products such as trees etc to Jaguar car owners. Market development: In the early sass's Jaguar developed their market by selling their existing cars to new audience such as the I-J.
Product development: such as the phone AS, Jaguar has developed cars such as the F-type which they sold to existing audience. Diversification: Jaguar has not yet made commitments to diversify their products whereas Apple has made great achievements and has future plans for diversification. Though their plans for diversification have not been made, I think as a car company to make great changes and diversify their product and audience range will be official and challenging.
Survival strategies Apple phone: Some businesses need to develop strategies Just to survive, however we haven't seen Apple creating any survival strategies in the recent years. During the sass's we saw great level of strategies being developed by the company especially following the departure of the Apple's founder when the company managed to get into financial difficulties. They were forced to cut down on less profitable markets, to make redundant staff and discontinue any loss making markets.
Jaguar car - F-type: currently due to the recession and adverse economic climate, car manufactures like, Jaguar, are in the most difficult financial position. They are being forced to make staff redundant, unable to attract good sales team because they are being forced to offer basic salary which many of the sales are reluctant to take on board. Furthermore, they have to discontinue production lines in order for them to survive. It is highly likely, in my opinion that many car manufactures within the next few years, if the current economic climate continues to make its stabilization, will face shutdowns.
Branding Apple phone: branding creates a unique atmosphere for a business which no other rowing, marketing strategies create. When businesses seek to make themselves standout, they will create a coercive brand name and perhaps a slogan to go with it Over the years Apple evolved their style of marketing and has become very influential in creating a trend of styles amongst generation after generation in the world of personal computing, music portability and now telecommunications.
Jaguar car - F-type: Branding is very important for all business, it doesn't matter what they are trading or sector of the industry they belong to. Branding allows customers to perceive the business in way that the company wants it to be perceived. The importance of branding in influencing buyer behavior The method used to brand a product can exert great level of influence to the behavior of the buyer. A strong and well built brand will stay in a customer's mind for longer with far more effect and helps to link the brand with manufacturer and service provider.
Creating a good brand can determine the overall success of the business. Apple phone: When Apple was initially created, it did not have a very attractive brand name, however as the company started to produce quality reliable goods their reputation was picked very quickly paving the way for their success. Also, it is very hard and time consuming to build brand names, which can be easily destroyed due to a small error and misunderstanding. This was felt by Apple during the latter part of the sass's. It took great efforts to get back to the position they were in.
Jaguar car - F-type: When a brand is well established and is recognized to very high quality, producers can charge a premium. This has been the case with these two subject companies; they are able charge products at a greater rate than any other trading business. Their products are desired by customers more because of their reputation. Brand building and positioning Building a brand can take a lot of time and effort as well as money, however the outcome that is enjoyed by the companies are greater and more privileged.
It's important to identify a brand value and their primary missions and then integrate them with a brand using specific campaigns. Apple phone: Apple maintains a specific and consistent 'house' style when promoting their products, for example, all of the Apple's current products will have the grey/ shiny Apple logo which in the first instance makes the customer know the maker of The use of simple texts and fonts also make their campaigns more appealing and attractive, for example, they use very little text when promoting their products.
Slogans such as "Think differently' and "It's designed to be a better computer" which are very clearly illustrated on the billboards and posters makes the very first impression of Apple's simplicity. Jaguar car - F-type: Because these two companies are at the very high end of the goods and services spectrum, the use of simple and clear texts are very common. Similar to Apple, Jaguar - which uses the animal Jaguar as an icon and logo - promotes their products with stylish and powerful similes. For example, the aiming "Excel with excellence" which promotes the car F-type greatly enhances the level attention given to the campaign.
It is also common amongst these businesses that they use young middle aged people to promote their products which makes it seem 'cool' and perhaps relaxing. They want to make the buyer feel like the way they want them to feel about the product which leads to uneasiness in not buying the product and satisfaction when the product is bought. Another method of positioning the brand is through the use and training of staff to behave in a certain way and present the image of the company in a reputable way.
Brand extension Sometimes some businesses decide to extend their brand when the primary brand is established which allows them to add extra product range under the same brand name. It is much cost effective to start a brand name rather than starting a total new brand name. However, there is a greater risk in carrying out a brand extension, because if the new product range fails it will destroy the total brand name in which case the brand name will struggle to get back to business.
This is because when brand is established people associate good names with good reduces and any errors caused can greatly influence their buying behavior. Apple phone: Apple has not attempted yet to create new brand extension, this is because they believe their primary goal is to present electrical goods in their best and most desired manner. I believe they are correct in making such decision because any move towards other The phone can be considered a brand extension however it can also be considered a product range, either way their focus is on electrical products which preserves their value.
Jaguar car - F-type: Unlike Apple, Jaguar did manage to extend their brand by adding Jaguar Finance. Although, this is to aid with the selling of the cars, it is a brand extension because this is a different industry. This will not create a negative reputation on the business, even though they will be dealing with the customers on a day-to-day basis mainly because, the people who are dealing with them will be highly trained and very professional in their field. It might even create a better status for the business because it provides easiness for the purchasing of cars on credit.
Relationship marketing Relationship marketing is another for businesses to create a better atmosphere in he industry and become the market leaders. Apple phone: Once an phone is sold, the company offers repair and replacement for the customer in case of damage, theft or any other problem. This allows the customer to be in a safe mind and enjoy the product with additional freedom. Jaguar car - F-type: Similar to Apple, Jaguar provides much more desired relationship marketing products such as repairing the product, financing, help and support and obtain other relevant information once the product is bought.
There are additional benefits offered through relationship marketing, for example the ability to buy parts of the car if something is damaged or service the car at the right time of the year to maintain a full service history. The following work does not need to be related to the selected TWO businesses. Limitations and constraints on marketing activities Consumer Law It is important that businesses know the current law and abide by them as if any activities that are not in line with the law might be rendered illegal and prosecuted if found guilty.
The following are the primary laws that any business needs to be aware as they provide a source of limitation for their activities. This was Act was passed to make sure traders sell their product as it is described on the description panels and are of satisfactory quality. This will immediately affect marketing activities because the marketing department will need to become aware of this and market their product with utmost truthfulness and cannot claim anything the product is unable to do or perform. For example, it would - according to this law - illegal to advertise that Apple phone is able change size, because it cannot.
Untruthful description is illegal even if it is for the purpose of advertising. Consumer Protection from Unfair trading regulations 2008 This law sanctions that all customers are treated fairly and honestly by the businesses. This legislation was pretty new and may not have affected many businesses, however was targeted at business that did not treat all customers fairly and honestly. It be doubtful that Apple was affected by the legislation as it is well known that it always treats people very fairly and with due honesty and respect.
This law also prevents businesses from advertising dishonestly and putting promotions or carry out campaigns that do not reflect the actual value of the easiness. Such type of campaigns may include advertising closing down sales and claiming prices have been dropped when actually the business not closing down and the prices have remained the same. Consumer Credit Acts 1974 and 2006 This law applies particularly to Jaguar because they offer goods and services on credit and provides financial services.
Jaguar is licensed by the Office of Fair Trading (OFT) and any complaints made by the customer will be dealt by the Financial Ombudsman Service (FOSS). This limits the freedom enjoyed by Jaguar by far because they are unable to put on leslies which ma go against the provisions of the Act. Furthermore, the Act adds additional burden on the service provider as they are required to give regular updates on the financial circumstances of the individual involved - this may be in the form of an annual statement.
If the customers fall behind in payment, FOSS may decide to extend the period for the payment this further makes it for Jaguar to stay in the appropriate financial state. Consumer Protection (Distant Selling) Regulations 2000 Apple provides distant selling services, therefore the provisions laid out by this legislation greatly affects their activities. Distant selling is where there are no face-to-face contacts between the two parties. Apple has e-commerce website which they operate through and this law greatly affects what information is put on the website and what rights are given to the customers.
The rights this law gives to the customers are as follows: Access to the business's profile Full and accurate detail of the product or services they are selling Appropriate payment method - payment methods should not be limited to cash being sent via post Delivery options Consumer right to cancel the order within a certain period of time. This constrains Apple from being able to provide their own methods (although they can and are - it is limited).
Data Protection Act 1998 This is one of the Acts that affect all businesses in their trading processes whether they operate in a high street or an e-commerce business the manner they store the information regarding the customers are regulated and are subject to this legislation. This law lays the following provisions: The information Jaguar obtains must be through fair and lawful means (cannot be forced or threatened) Used only for the purpose it was obtained for (which has been dated at time of collection) The information that has been obtained must be accurate.
Information cannot be kept for longer than stated (unless stated otherwise) Protected from being transferred outside the EYE Updated at the correct interval throughout the year. This limits how long Jaguar is able to keep the information for and what they can use it for (unless they keep pestering their customers). Furthermore, it may also be costly to store such large amount of information and therefore creating a barrier in reaching their target margins. Voluntary codes advertising practice While there are various law in place to make sure that all of the activities carried out by businesses are accurate and truthful.