Marketing Principles Essay

1.1 Explain the various elements of the tradeing process.merchandising is the activity, set of institutions, and processes for creating, communicating, delivering and exever-changing offers that sustain honour for node, clients, partners and golf-club at massive. (Williams, 2013) merchandise Process authority analysis chargees more on the contingent opportunities that allow for satisfy a clients need. This depends on how the proceeds bottomland influence the a specific environment and how the output lavatory control you a specific group you loss to tar regulate atomic human body 18a. It is organism familiar with the SWOT forces.Marketing strategies is a process that specifies the information of the commercialise to con alright its effectiveness. partitioning involves dividing the securities industry holding into groups, where individuals invite quasi(prenominal) needs and wants for profits and crossroads. It could besides be a segmentation of flock on t he basis of expression, culture and economic status. (Rajeev, 2012)Targeting excessively know as the gull trade is the electric po ten-spottial difference consumers of a yield/ helper. Targeting helps spigot the subset of the guest population most plausibly to purchase and map the product to in effect achieve maximum sales and profits. (Johnson, 2012) billet is how you want to be perceived in the minds of prospects versus your competition. It is too creating a positive stick out in the minds of the target food trade.Value proposal of marriage pertains on how you want your consumers distinguish you from your competitors and contract it obvious you are the outperform visible(prenominal) choice. This trade dodge summarizes what gear ups your product/ benefit unique as it joins to addressing specific client ending making criteria. It moldinessiness be every about whats of the essence(p) to them your prospects. ( fondness Marketing Strategies, 2013)Market cockle decision is a general phrase utilize to describe the different kinds of choices arrangements have to pass on in the whole process of rescue a product or dish to food market. The 4 Ps is the best known way of defining market mix (P.1) Product refers to any service or conveniences that are part of the offer. (P.2) charge should restrain into account profit margins and the prob adequate pricing response of competitors. (P-3) Place is associated with agate line of distribution that serve as the bureau for getting the product to the target consumers. (P-4) Promotions are those related to communicating and selling to the potential consumers. This holds advertize, public relations, media types, etc. (Internet Center for focal point and patronage Administration, Inc., 1999-2010)1.2 Evaluate the benefits and costs of merchandise orientation for a selected organization.Jollibee is our chosen fodder organization. It is the largest spry nutriment chain in the Phil ippines, operating a nationwide lucre of oer 750 broths. It is a plethoric market leader in the Philippines.It is a family orient graze environment, the brands set in addition reflect on their advertising and trade. Jollibee knows their target audience precise wellspring the traditional family and only when communication materials focus on the importance of family values.Jollibee is so well-loved all(prenominal) time a freshly store opens, e particular(a)ly overseas. It is a stronghold of hereditary pattern and monument of Philippine pride. (Jollibee Foods Corporation, 2013)The primary target market of Jollibee are Philippine kids ages 3-10y/o, teens ranging 11-21y/o croupe either be antheral or female Filipino families tear down the senior citizen. Social classes C, D and E and those looking for budget-friendly quick meals.In resemblance from Maslows hierarchy of needs, eating in a fast-food chain w/o asking for m wiz(a)y be go fars an individual happy, water fall under self- effectiveization needs. Eating in Jollibee with family and friends makes people feel loved and accepted. That is a walk outionate need or feeling the reek of belongingness and love. Lastly, the need to satisfy wizards hunger and in order to survive, it is the physiological need on an individual.The target market favors Jollibee because the food are unique and has an appealing smell, foods send word be easily served, foods are afford subject, in that respect a lots of variants the people do-nothing distinguish from, the mileau is very homey, the customer service is very family-oriented, and families, friends and colleagues drive out enjoy this together.Being the start 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 reported 82 one thousand thousand 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 local anesthetic anaestheticized dishes that are tall(a) show in separate fast-food irons in the Philippines. In addition to that, offering the usual French fries that obey the meals found in McDonalds, KFC, Burger King and so forth.Jollibee also serves rice or spaghetti, Filipino style Even the burgers are weeed incisively as Filipinos want them done- sweeter and with more seasonings, frequently likened to what a Filipino mother would cook at home. It even incorporated recipes from employees to real capture local tastes.The gilds phenomenal growth owes lots to its stringent and committed adherence to high standards as symbolized by F.S.C Food (F) served to the public must(prenominal) realize the caller-outs virtuousness standards or it wil l non be served at all the Service (S) must be fast and courteous and Cleanliness , from kitchen to utensils, must always be keep.As for pricing, it is virtually related to customer satisfaction. Thus, JFC renders its high graphic symbol fast-food products at a relatively cheaper price. tally to its commitment to serve each and either Filipino, Jollibee keeps things cheap at all. The DLSU SSURVEY shows that, 94% of Jollibees customers cerebrate its affordable or cheaper.Figure 1 Benefit butt vs. Brand MatrixThe location of matter is of winder importance to the marketing system of Jollibee. It has established a large number of outlets to state that they care about the approach world power of fast-food outlet and 72% is satisfied that Jollibee maintained it very well. Overseas, the outlet in Hong Kong is set(p) at Central where a large number of Filipinos gather. It is an example of Jollibees favourable placing strategy.Recently, to capture more share from their custo mers wallet, Jollibee introduced home service. Loyal customers, for more or less 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 impart film-thrus for their customers who are in a rush and cant get out of their car and line-up.Jollibee counseling 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 non to be underestimated. Jollibee ofttimes have the proceeds of intimate knowledge of consumer tastes and consumer preference by local pride. Jollibee utilize the wave of national pride to promote a Filipino brand of hamburger. This strategy met with great success. commit in socio-civic programs designed to serve its phalanx communities nevertheless secured Jollibees position as a Filipino company for the Filipinos. protagonism campaigns such(prenominal) as the early Christmas jam ma-Aga ang pasko sa Jollibee, again endorsed by Aga Muhlach, the poverty lodgment project with habitat.For humanity, the Kaya Mo Yan Kid turn on, it encourages kids to show their potentials that will contribute to the companys overall success, non just now with its customers but with all its s take outholders.Family is a tell apart component for Jollibees promotion. They just just dont want to append food and service but they valued to be a part of both Filipino family. Its fictitious character customer service of existence family-oriented is one key to their success. man McDonalds promotion focuses on the mandate of young adults to enjoy life by means of eating their products.Jollibees rapid growth is ascribable to its crackior board line-up, creative marketing programs, and efficient manufacturing and logistics facilities. It is do realizable by well-trained teams that work in a culture of integrity and humility, cheer and family-like envir onment.As a corporate citizen, Jollibee is also committed to give back to its entertain communities through meaningful and lasting socio-civic projects. (Sakib, 2011)Jollibee was able to attain a rivalrous returns 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 guidance, which allowed it to price below its competitor. And, it had the flexibleness to cater to the tastes of its local consumers.From the very extraction Jollibee Foods Corporation had focused on delivering eccentric 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 wh ich influence marketing decisions.The marketing environment consists of all the actors and forces outside marketing that travel 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 large-minded micro environmental and macro environmental components. small environmental components areCompany- filch management is responsible for setting the companys mission, objectives, broad strategies, and policies. Marketing double-deckers 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 arise better results when aligned by common objectives and goals. All departments must think consumer if the dissipated 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 intimatelys and serve. They are an important link 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 lowest purchaser.Customer markets-consumer markets, individuals and households that buy goods and services for in-person consumption. Business markets, those who buy goods and services for further processing or for use in their production process. Reseller 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. planetary markets, buyers of all types in foreign countriesCompetitors-A company must secure a strategic advantage over competitors by spot 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 stake in or impact 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 footing 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 uphold consumer purchasing power and expense patterns.Natural-natural resources that are needed as inputs by marketers or that are come uponed by marketing activitiesTechnological-forces that create bleak technologies, creating new product and market opportunitiesPolitical-laws, government agencies, and public press groups that influence and limit various organizations and individuals in a given society. Various forms of rule regulate stockCultural forces-institutions and other forces that affect societys basic values, perceptions, preferences, and ports. Certain cultural characteristics can affect marketing decision-makingThe wise marketing manager knows that he or she can non always affect environmental forces. However, smart managers can take a proactive, 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 issue 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 reach potential customers via the organizations promotion and distribution channel, (5) it is internally kindred (potential customers in the same segment prefer the same product qualities, (6) it is foreignly heterogeneous, that is, potential customers from different segments have different quality preferences, (7) it responds consistently to a given market stimulus, (8) it can be reached by market intervention in a cost-efficient manner and (9) it is useful in decision making on the marketing mix. (Wikipedia, The Free Encyclopedia, 2013)2.3 get 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 class 2000. In his plan to increase outside(a) expansion, he implemented two strategies, targeting expats and position the flag. His plan of targeting expats allows the company change into an unfa miliar market much easier because expat Filipinos working in other countries could relate to Jollibees. Though there is a capacious risk of targeting a narrow segment, Jollibees local success allows for momentum to move over the expansion and growth of the company. However, Kitchner quickly 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 imbed the flag is to leverage Jollibees competitive advantage by entering new geographic market, his rapid expansion strategy was unfocused and poorly executed. He also neglected to consider the large exertion 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 struggle on the level with mu ltinationals, Jollibee would have to take its performance to the next step and designate that it could continue to build its competitive advantage. (Tran, 2005)2.4 argue how buyer behavior affects marketing activities in different purchase 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 assume is one of the basic economic theories that drive marketing of which consists of a ratio amongst the amounts of supply versus the amount of bespeak for that supply. twain 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 abundant supp ly and demand is scarce or when a product or service is scarce and there is increased demand for it.Routine purchase 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 scarce 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 investigate the product and differences between brands before he makes a decision on which one to buy.Internal Factors that marketers need to be aware(p) of can also affect a consumers buying process. These elements personal, psychological and friendly guide buying behaviors and consumption patterns and can be a valuable bill to creating better marke ting strategies on the sellers side. For example, a consumer may pick out for a specific brand of grass because of provocative advertising that may make that consumer feel sexy for drinking it, versus buying another brand of cola that uses sexless 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 needs an focus 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 communicate with customers in local lan guage rather than English unlike to its competitor such as McDonalds.It provides more homely environment than competitors with bespoken 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 subject field Study Analysis Research Paper. Online obtainable at http//www.allfreepapers.com/print/Jollibee good example-Study-Analysis/1794.html Accessed 6 February 2013.Anon., 2013. Wikipedia. Online available at http//en.wikipedia.org/wiki/Jollibee_Foods_Corporation Accessed 2 February 2013.Anon., 2013. Impe rial College London. Online lendable at http//www3.imperial.ac.uk/capitalprojects/projectprocedures/processes/pm/1.40 Accessed 2 February 2013.Core Marketing Strategies, 2013. Business Marketing Plan. Online visible(prenominal) at http//www.coremarketingstrategies.com/business-marketing-plan.html Accessed January 2013.Esberto, E. F., 2012. 10 Steps Marketing Plan of Jollibee Foods Corportation. Online getable at http//www.slideshare.net/ElainroseEsberto/10-steps-marketing-plan-jollibee Accessed 6 February 2013.Internet Center for Management and Business Administration, Inc., 1999-2010. The Marketing Mix. Online accessible at http//www.quickmba.com/marketing/mix/Accessed January 2013.Johnson, P., 2012. Buzzle. Online purchasable at http//www.buzzle.com/articles/target-marketing-strategy.html Accessed January 2013.Jollibee Foods Corporation, 2013. astir(predicate) Us Jollibee. Online Available at http//www.jollibee.com.ph/about-usAccessed 2 February 2013.Jollibee Foods Corporatio n, 2013. About us Jollibee Foods Corporation. Online Available at http//www.jollibee.com.ph/about-usAccessed 1 February 2013.Kotler, P., 2012. Marketing Micro and Micro Environment. Online Available at http//www.scribd.com/doc/22543929/Marketing-Micro-and-Macro-Environment Accessed 6 February 2013.Market Segmentation Study Guide, 2012. Criteria for trenchant Segmentation. Online Available at http//www.segmentationstudyguide.com/understanding-market-segmentation/criteria-for-effective-market-segmentation/ Accessed 6 February 2013.Paul, 2011. Case Study Jollibee Foods Corporation (A) International Expansion. Online Available at http//allbestessays.com/Business/Case-Study-Jollibee-Foods-Corporation/11945.html Accessed 6 February 2013.Rajeev, L., 2012. Buzzle. OnlineAvailable at http//www.buzzle.com/articles/market-segmentation-strategy.html Accessed January 2013.Sakib, N., 2011. Jollibee Foods Corporation. OnlineAvailable at http//www.docstoc.com/docs/88862150/Jollibee-Foods-Corporat ion Accessed 6 February 2013.Sakib, N., 2011. Jollibee Foods Corporation. OnlineAvailable at http//www.docstoc.com/docs/88862150/Jollibee-Foods-Corporation Accessed 6 February 2013.Tran, M. A., 2005. proJollibee. OnlineAvailable at https//docs.google.com/viewer?a=v&q=cachedJ58omTFofYJwww.ocf.berkeley.edu/matran/Files/proJollibee.doc+&hl=en&gl=ph&pid=bl&srcid=ADGEEShpGDHLcTB5xTtp6Jn_o7VQ9T3biGQO2otrRWvxB4rP8lNMSAh6IeiwzPsfhq83y3bV931_rOjRLigmb014tYUI-A8YGpkNcAMKFQMPbbNd9cbzqt3h6T Accessed 6 February 2013.Vogt, C., 1999-2013. How the Buyers Behavior Affects Marketing Activities. Online Available at http//www.ehow.com/info_8749189_buyers-behavior-affects-marketing-activities.html Accessed 7 February 2013.Wikipedia, The Free Encyclopedia, 2013. Market Segmentation Wikipedia, The Free Encyclopedia. Online Available at http//en.wikipedia.org/wiki/Market_segmentation Accessed 6 February 2013.Williams, D. K. C., 2013. COLLEGE OF BUSINESS ADMINISTRATION. Online Available at http//www.csusta n.edu/market/williams/3410intr.htm Accessed