Firstly, the unit looks at the definitions of marketing, and what is meant by a marketing orientation and the marketing process. Next, learners consider the use of environmental analysis in marketing and carry out their own analyses at both macro and micro levels.
Citizens, government and locality of new country Other marketing or advertising agencies Starbucks always believe in maintaining long term relationship with all the stakeholders and believe in mutual growth.
Suppliers Starbucks get its best quality coffee beans from the farmers and they are the major supplier of Starbucks MacDonald, Starbucks has always maintained strong relationship with the farmers.
Buyers Starbucks has strong brand name which has helped in having strong customer base and customer loyalty. Potential New Entrants Entering into luxury coffee market requires lots of money and resources and hence threat from new entrants is very less for Starbucks. Substitute products Substitute products for Starbucks are low-cost coffee makers, restaurants and hotels.
Cost will be incurred on new infrastructure in new country. Advertising and promotional activities also require money. Cost will also be incurred on market research activities and to acquire new partners in the country.
Hiring and recruitment will also require money and time. Raw material cost will also be included in the cost for Starbucks Benefits Increased profit, revenue and market share. Increased brand name and customer loyalty will lead to increase in number of customers.
Starbucks will be able to make strong relationship with the government and locality of new country. Justify your reason for the proposed segmentation criteria. For the chosen strategy discuss how the buyer behaviour affects marketing activities in different buying situations.
Discuss the buyer behaviour in relation to the segmentation criteria you have identified. SWOT analysis helped us in knowing that Starbucks has huge brand name and it has lots of products to be sold to the new market. Starbucks has to sell all the products from its portfolio in the new country and every product can be sold to different target market based on the quality and special attributes of the products Thompson, Brand name will help in increasing the awareness through word of mouth.
The two different segments will be people above 25 years of age and people below 25 years of age. Both the products can be targeted to people between years of age as there is no demarcation between the two segments.
This product will be positioned as healthy and energetic drink. All the customers have different choices and preferences from each other. Marketing and promotion activities depend a lot on the buying behaviour of customers. Starbucks has to hire a market research agency and should do a complete research to the preferences and choices of the customers.
Market research should also focus on knowing the average disposable income of the potential customers where we are thinking of implementing our store.Mar 03, · Unit 4: Marketing Principles Understanding and application of Marketing Principles Learning outcome Assessment In this assessment you will have the opportunity to present Criteria Explain the various elements of the marketing process 1 evidence that shows you are able to: Evaluate the benefits and costs of a marketing orientation for a selected organisation /5(K).
Unit 4: Marketing Principles Jade Pemberton Table of Contents Introduction: 3 LO1 Understand the concept and process of marketing 4 Explain the various elements of the marketing process 4 Evaluate the benefits and costs of a marketing orientation for a selected organization 5 LO2 be able to use the concepts of segmentation, targeting.
Assignment front sheet. Qualification Unit number and title Pearson BTEC Level 5 HND Diploma in Business Unit 4: Marketing Principles Student name Assessor name Documents Similar To Unit 4 Marketing Principles Final (2) Marketing Principles. Uploaded by. Mihai Cotirgasanu.
Marketing Principles. Uploaded by. Roy Peralta. Unit 4: Marketing Principles Jade Pemberton Table of Contents Introduction: 3 LO1 Understand the concept and process of marketing 4 Explain the various elements of the marketing process 4 Evaluate the benefits and costs of a marketing orientation for a selected organization 5 LO2 be able to use the concepts of segmentation, targeting and.
Unit 4: Marketing Principles LO1. Understanding the concept and process of marketing Tesco was founded in by Jack Cohen from a market stall in London’s East End.
Over the years our business has grown and we now operate in 12 countries around the world, employ over , people and serve. HNC Business Unit 4 Marketing Principles This HNC business marketing principles assignment based on Starbucks expanding strategy to other left major countries of the world.
Assignment 1- .