Marketing Principles Essay

1.1 Explain the various elements of the marketing process.Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offers that consecrate honor for customer, clients, partners and society at boastfully. (Williams, 2013)Marketing ProcessSituation analysis focuses more on the realizable opportunities that will satisfy a customers expect. This depends on how the product green goddess influence the a specific environment and how the product shadower control you a specific group you want to put. It is being long-familiar with the SWOT forces.Marketing strategies is a process that specifies the information of the market to obtain its effectiveness. Segmentation involves dividing the market into groups, where individuals founder similar needs and wants for services and products. It could also be a segmentation of people on the basis of deportment, culture and economic status. (Rajeev, 2012)Targeting also known as the ta rget market is the possible drop consumers of a product/service. Targeting helps tap the subset of the customer population most likely to purchase and use the product to effectively achieve maximum sales and profits. (Johnson, 2012)Positioning is how you want to be perceived in the minds of prospects versus your competition. It is also creating a positive image in the minds of the target market.Value Proposition pertains on how you want your consumers distinguish you from your competitors and make it unadorned you are the best available choice. This marketing strategy summarizes what makes your product/service unique as it links to addressing specific customer decision making criteria. It moldiness be all about whats important to them your prospects. (Core Marketing Strategies, 2013)Market conflate decision is a general phrase used to describe the different kinds of choices organizations beat to make in the whole process of bringing a product or service to market. The 4 Ps i s the best known way of de keep backate marketing flow (P.1) Product refers to any services or conveniences that are part of the offering. (P.2) Pricing should retort into account profit margins and the probable determine response of competitors. (P-3) Place is associated with channels of distribution that serve as the means for getting the product to the target consumers. (P-4) Promotions are those related to communicating and selling to the potential consumers. This includes advertising, public relations, media types, etc. (Internet Center for Management and Business Administration, Inc., 1999-2010)1.2 Evaluate the benefits and costs of marketing orientation for a selected organization.Jollibee is our chosen food organization. It is the largest fast food fibril in the Philippines, operating a nationwide network of over 750 stores. It is a dominant market leader in the Philippines.It is a family oriented work environment, the inciters values also reflect on their advertising and marketing. Jollibee knows their target audience very headspring the traditional family and all communication materials focus on the importance of family values.Jollibee is so well-loved every time a new store opens, e supererogatoryly overseas. It is a stronghold of heritage and monument of Filipino pride. (Jollibee Foods Corporation, 2013)The primary target market of Jollibee are Filipino kids ages 3-10y/o, teens ranging 11-21y/o can either be male or female Filipino families take down the senior citizen. Social classes C, D and E and those looking for budget-friendly quick meals.In comparison from Maslows hierarchy of needs, eating in a fast-food chain w/o asking for specie makes an individual happy, falls under self-actualization needs. Eating in Jollibee with family and friends makes people feel loved and accepted. That is a social need or feeling the sense of belongingness and love. Lastly, the need to satisfy ones hunger and in magnitude to survive, it is the physiolog ical need on an individual.The target market prefers Jollibee because the food are unique and has an appealing experiment, foods can be easily served, foods are affordable, there a lots of variants the people can choose from, the mileau is very homey, the customer service is very family-oriented, and families, friends and colleagues can enjoy this together. beingness the pioneer in fast-food industry, Jollibee had the majority in the marketing opportunity. Jollibee was able to capture 65% of the market share in hamburger market in the Philippines. The JFC describe 82 billion pesos by the end of 2011. Based on the annual report of JFC, Jollibee earned 50 billion pesos revenue on 2011. (Esberto, 2012)The product offered by Jollibee appeals to the Filipinos taste for spicy burgers. By concentrating its resources on satisfying the Filipino palate, Jollibee has been able to serve localized dishes that are unlikely found in other fast-food chain in the Philippines. In addition to that, offering the usual French fries that accompany the meals found in McDonalds, KFC, Burger King and so forth.Jollibee also serves rice or spaghetti, Filipino style Even the burgers are cooked exactly as Filipinos want them done- sweeter and with more seasonings, often likened to what a Filipino mother would cook at home. It even incorporated recipes from employees to truly capture local tastes.The companys phenomenal growth owes much to its strict and committed adherence to high standards as symbolized by F.S.C Food (F) served to the public must neat the companys excellence standards or it will not be served at all the Service (S) must be fast and courteous and Cleanliness , from kitchen to utensils, must always be of importtained.As for pricing, it is about related to customer satisfaction. Thus, JFC provides its high quality fast-food products at a relatively cheaper price. According to its commitment to serve each and every Filipino, Jollibee keeps things affordable at all. T he DLSU SSURVEY shows that, 94% of Jollibees customers pretend its affordable or cheaper.Figure 1 Benefit Positioning vs. Brand MatrixThe location of outlet is of mainstay importance to the marketing strategy of Jollibee. It has established a large number of outlets to call forth that they care about the accessibility of fast-food outlet and 72% is satisfied that Jollibee maintained it very well. Overseas, the outlet in Hong Kong is located at Central where a large number of Filipinos gather. It is an example of Jollibees good placing strategy.Recently, to capture more share from their customers wallet, Jollibee introduced home service. Loyal customers, for some reason who cant get out of home but want to have a bite of Jollibee, can now avail their products via phone call. They also provide drive-thrus for their customers who are in a rush and cant get out of their car and line-up.Jollibee management carefully selects their franchisors to make sure they can meet its standard. To be a franchisee of Jollibee, one has to invest 15-30 million pesos.Brands in local market are strong contenders and not to be underestimated. Jollibee often have the return of intimate knowledge of consumer tastes and consumer preference through local pride. Jollibee used the wave of nationalist pride to promote a Filipino brand of hamburger. This strategy met with vast success.Investing in socio-civic programs designed to serve its host communities further secured Jollibees position as a Filipino company for the Filipinos. Advocacy campaigns such as the early Christmas drive ma-Aga ang pasko sa Jollibee, again endorsed by Aga Muhlach, the poverty housing project with habitat.For humanity, the Kaya Mo Yan Kid Campaign, it encourages kids to show their potentials that will contribute to the companys overall success, not only with its customers but with all its stakeholders.Family is a key component for Jollibees promotion. They just simply dont want to add food and service but they wanted to be a part of every Filipino family. Its quality customer service of being family-oriented is one key to their success. While McDonalds promotion focuses on the empowerment of young adults to enjoy life by means of eating their products.Jollibees rapid growth is out-of-pocket to its superior bill of fare line-up, creative marketing programs, and efficient manufacturing and logistics facilities. It is made executable by well-trained teams that work in a culture of integrity and humility, fun and family-like environment.As a corporate citizen, Jollibee is also committed to give back to its host communities through meaningful and lasting socio-civic projects. (Sakib, 2011)Jollibee was able to attain a competitive expediency in the Philippines over McDonalds by doing following things Jollibee was the first to enter the market. It was able to retain tight control over operations management, which allowed it to price at a lower place its competitor. And, it had the flex ibility to cater to the tastes of its local consumers.From the very beginning Jollibee Foods Corporation had focused on delivering quality food and service at an affordable cost to the customers. This had been possible only due to excellent operational control. Jollibee enjoyed a dominant position in the fast food market in Philippines until McDonalds entered the market. They focused on their main asset, their knowledge of taste and preferences of the local population. (Andrew, 2011) 2.1 Show macro and micro environmental factors which influence marketing decisions.The marketing environment consists of all the actors and forces outside marketing that yarn-dye the marketing managements ability to develop and maintain successful relationships with its target customers. Though these factors and forces may vary depending on the specific company and industrial group, they can generally be divided into broad micro environmental and macro environmental components.micro environmental comp onents areCompany-top management is responsible for mise en scene the companys mission, objectives, broad strategies, and policies. Marketing managers must make decisions within the parameters established by top management. Marketing managers must also work closely with other company departments. Areas such as finance, R & D, purchasing, manufacturing, and accounting all produce better results when aligned by common objectives and cultivations. All departments must think consumer if the firm is to be successful. The goal is to provide superior customer value and satisfaction.Suppliers-are firms and individuals that provide the resources needed by the company and its competitors to produce goods and services. They are an important concern in the companys overall customer value delivery system.Marketing channel firms (intermediaries)-firms that help the company to promote, sell, and distribute its goods to final bribeer.Customer markets-consumer markets, individuals and households that buy goods and services for personal consumption. Business markets, those who buy goods and services for further processing or for use in their production process. Re marketer markets, those who buy goods and services in order to resell them at a profit. Government markets, agencies that buy goods and services in order to produce public services or transfer them to those that need them. outside(a) markets, buyers of all types in foreign countriesCompetitors-A company must secure a strategic advantage over competitors by positioning their offerings to be successful in the marketplace. No single competitive strategy is best for all company.Publics Any group that has an actual or potential come to in or touch on on an organizations ability to achieve its objectives. A company should prepare a marketing plan for all of their major publics as well as their customer markets.Macro environmental components are thought to beDemographic-the study of human populations in terms of size , density, location, age, sex, race occupation, and other statistics. It is of major interest to marketers because it involves people and people make up markets. Demographic trends are constantly changingEconomic-those factors that affect consumer purchasing power and spending patterns.Natural-natural resources that are needed as inputs by marketers or that are affected by marketing activitiesTechnological-forces that create new technologies, creating new product and market opportunitiesPolitical-laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society. Various forms of legislation regulate businessCultural forces-institutions and other forces that affect societys basic values, perceptions, preferences, and doingss. genuine cultural characteristics can affect marketing decision-makingThe wise marketing manager knows that he or she cannot always affect environmental forces. However, smart managers can take a pr oactive, rather than reactive, approach to the marketing environment. (Kotler, 2012)2.2 Propose segmentation criteria to be used for products in different markets.To ensure that the market segments that have been constructed by the firm, they must meet the basic requirements and guidelines, which will make them usable segments and potential target markets. (Market Segmentation Study Guide, 2012)An ideal market segment meets all of the following criteria (1) It is possible to measure, (2) it must be large enough to earn profit, (3) it must be stable enough that it does not vanish after some time, (4) it is possible to progress potential customers via the organizations promotion and distribution channel, (5) it is internally homogeneous (potential customers in the same segment prefer the same product qualities, (6) it is externally heterogeneous, that is, potential customers from different segments have different quality preferences, (7) it responds consistently to a given market sti mulus, (8) it can be reached by market intervention in a cost-effective manner and (9) it is useful in deciding on the marketing mix. (Wikipedia, The Free Encyclopedia, 2013)2.3 Choose a targeting strategy for a selected product or service.Kitchner had the goal of making Jollibee one of the worlds top ten fast food brands by the year 2000. In his plan to increase international expansion, he implemented two strategies, targeting expats and planting the flag. His plan of targeting expats allows the company transition into an unfamiliar market much easier because expatriate Filipinos working in other countries could relate to Jollibees. Though there is a huge risk of targeting a narrow segment, Jollibees local success allows for momentum to generate the expansion and growth of the company. However, Kitchner readily found out that this market was limited and that not all the overseas Filipinos were potential customers. (Paul, 2011)On the other hand, Kitchners decision to plant the flag is to leverage Jollibees competitive advantage by entering new geographic market, his rapid expansion strategy was unfocused and poorly executed. He also miss to consider the large transaction costs associated with establishing markets in new countries. Kitchners desire to be first-mover in a number of small, undeveloped markets would not have brought the prestige needed to win the firm better partners. Planting the flag only showed that Jollibee knew how to repeat its success. In order to compete on the level with multinationals, Jollibee would have to take its performance to the next step and prove that it could continue to build its competitive advantage. (Tran, 2005)2.4 Demonstrate how buyer behavior affects marketing activities in different purchasing situations.Buying behavior is made up of the internal and external factors that explain why consumers buy and use certain products or services. This type of behavior can affect the marketing strategy that a business employs to promote its products, and when this behavior is analyzed, it can guide a business toward better marketing strategies and methods that it might not have originally used.Supply and Demand is one of the basic economic theories that drive marketing of which consists of a ratio surrounded by the amounts of supply versus the amount of gather up for that supply. Two supply and demand situations can majorly affect the type of marketing you employ for your goods. These situations include when a product or service is in abounding supply and demand is scarce or when a product or service is scarce and there is increased demand for it.Routine buying behavior is the programmed response that consumers may have to certain types of products. Usually these products are not expensive, such as cars or computers, and can include anything that is commonly bought on a week-to-week basis.Complex Decision-Making is another type of buyer behavior which is usually associated with high-end, expensive or sca rce products such as diamonds, fine wine or automobiles. This behavior often comes with high involvement on the consumers part in that he will generally want to thoroughly research the product and differences between brands before he makes a decision on which one to buy.Internal Factors that marketers need to be aware of can also affect a consumers buying process. These elements personal, psychological and social guide buying behaviors and consumption patterns and can be a valuable tool to creating better marketing strategies on the sellers side. For example, a consumer may opt for a specific brand of cola because of provocative advertising that may make that consumer feel sexy for alcohol addiction it, versus buying another brand of cola that uses nonsexual advertising. Delivering the feeling you want experienced when a consumer uses your product is imperative to a good marketing mix of strategies. (Vogt, 1999-2013)2.5 Positioning selected product/service.Ensuring high traffic n eeds an emphasis on store location and positioning Jollibee in the minds of the consumers as a place where they can enjoy eating fast food. This entails proper branding and positioning of the services/products offered.Jollibee Foods Corporation brought to everyones lips the promise of LANGHAP SARAP (smells so good so it must taste good)Jollibee also projected itself as a world-class brand by expanding its market overseas. Its nationalist view is a key fact. Personnel at Jollibee excrete with customers in local language rather than English unlike to its competitor such as McDonalds.It provides more homely environment than competitors with tailored food menu to meet the local peoples needs. Jollibee is a super place for children that has ever been. Children can come with their parents and play here while being served with special items made for them. Also, Jollibee facilitates party arrangements for its consumers.Thus, the value proposition of Jollibee that distinguished it from its competitors is, Jollibee provide special Philippines meal at a cheaper price in a very much homely environment and is a place where people come for joy. (Sakib, 2011)BibliographyAndrew, 2011. Jollibee Case Study Analysis Research Paper. Online Available at http//www.allfreepapers.com/print/JollibeeCase-Study-Analysis/1794.html Accessed 6 February 2013.Anon., 2013. Wikipedia. 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