After relocation ACL should consider conducting a market and environmental analysis to determine the nature and behavior of customers, level of existing competition , purchasing trends of the customers, operations of other competitors and the prepare a cost benefit analysis. Market and environmental analysis to determine if the competitors are providing differentiated products. ACL should consider gathering information on the level of loyalty that customers attach to the products and services. It will also be vital because they will familiarize themselves with the culture of customers and how other stable companies are able to maintain good relationships with the potential and existing customers. Environmental analysis will be vital for establishing their strengths and weakness which through these establishment opportunities can be secured and threats eliminated or avoided for the success of the company. Determining the needs of customers and their preferences in terms of quality of the product and its performance will be essential in ensuring that the company remains on top of others (Doole & Lowe, 2008).
In its marketing process, it should consider fixing marketing targets. Identification of the customer base is essential since it will provide ACL with the clear framework on how to produce, distribute and provide after-sale-service to its customers. It will be able to understand the customers it is marketed products for. This will pave way for formulating better marketing strategies.
MARKETING PRINCIPLES: ACL CASE STUDY
Task 1
1.1 Elements of a marketing process
After relocation ACL should consider conducting a market and environmental analysis to determine the nature and behavior of customers, level of existing competition , purchasing trends of the customers, operations of other competitors and the prepare a cost benefit analysis. Market and environmental analysis to determine if the competitors are providing differentiated products. ACL should consider gathering information on the level of loyalty that customers attach to the products and services. It will also be vital because they will familiarize themselves with the culture of customers and how other stable companies are able to maintain good relationships with the potential and existing customers. Environmental analysis will be vital for establishing their strengths and weakness which through these establishment opportunities can be secured and threats eliminated or avoided for the success of the company. Determining the needs of customers and their preferences in terms of quality of the product and its performance will be essential in ensuring that the company remains on top of others (Doole & Lowe, 2008).
In its marketing process, it should consider fixing marketing targets. Identification of the customer base is essential since it will provide ACL with the clear framework on how to produce, distribute and provide after-sale-service to its customers. It will be able to understand the customers it is marketed products for. This will pave way for formulating better marketing strategies.
The marketing process will consider also setting both long-run and short-run plans which will provide focus and direction for the company. This will incorporate the companies targets, aims, objectives and goals in providing quality products and services to the customers, community and various shareholders and at the same time be in a position to maintain returns.
It is vital that the marketing process the company considers the marketing mix. The product provided to the new market of Essex region should meet all safety and quality standards and should be able to satisfy the customers and deliver its expected performance. The price should be affordable and competitive to be able to attract, retain and convince customers that the price is as per the quality of the product provided. The company should also conduct product promotion through the available promotional tools in Essex region and reach its potential customers. Promotion methods can be similar to what other companies are using into the market. Place is important since it will help the company to be easily accessible to its potential customers. Therefore locating the products close to customers will be vital for the success of the marketing process (Doole & Lowe, 2008).
Market control will demand that ACL guides its marketing efforts within specific set parameters which are established by internal resources and external environment. This will ensure that the company follows its marketing objectives and ensure that performance standards are adhered to. The company shall ensure that it compares results obtained against standards and make necessary informed corrections to be able to remain competitive and marketable to the customers.
1.2 Costs and benefits of marketing orientation
Marketing orientation for ACL will focus on the needs and wants of consumers, research outputs and products that can be developed to suit the customers, and the entire process of customer satisfaction. The company will therefore be involved in extensive market research, development of new products, product innovation,and supplementary services directed towards customer satisfaction. It's important that the ACL market orientation process be geared towards customer advantage. Market orientation process is costly for any company approaching a new market like Essex. Extensive research is required with expertise in market analysis to be able to determine the best way to deliver services to the customers. Costs to be incurred will be on finding the best promotional tool, designing the products to suit customers preferences, innovations and on improving its existing products. Investment in market research is costly and mostly needs market intelligence that is powerful to be able to respond to demands accurately and on time (Singh, 2004). Constant modification of the products by ACL will cut into its capital making market orientation costly. However, market orientation benefits for ACL are several considering the fact that they have a new market and they are the only ones providing quality products. Also it will be important to help them stay in front of marketplace responsiveness by providing quality products demanded by customers and delivering them at the right time. They will be able to have constant improvement of the products with changes in customers' preferences making the business more sustainable. They will be able to understand the level of external influence and the best way to cope up with to guarantee returns on investments
1.3 Environmental factors
Factors that have a direct impact on ACL operation include: customers, employees, suppliers, competitors, shareholders and media of which the company needs to address to operate effectively in the market. ACL decision will be affected by customer in that all its activities will be customer centered. This will be towards satisfying their needs and wants. Employees will be required to have relevant skills and essential experiences which will help in efficient operation and customer service. They will also need to be trained and developed to meet the objectives of the company and at the same time achieve a competitive edge. Suppliers are essential because they keep ACL in business by providing materials both needed for product creation and running of the business. The ACL decision on suppliers will be based on reliability of their services, capacity, ability to deliver on time and maintaining of supply and quality of materials. Competitors operate under product differentiation in the Essex region. ACL will need to understand their capabilities, activities, opportunities, and how responsive they are to market changes. Shareholders are important since they will demand returns on their investment hence they will need to be considered (Leadley & Forsyth, 2004). The community will need preservation of the environment and improvement of social amenities. Others like the government will be concerned with adherence to regulatory policies and quality of standards provided hence it will be essential for ACL to determine the best mix of its strategies to keep all the factors balanced.
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- Citation du texte
- Martin Jole (Auteur), 2010, Elements of marketing, Munich, GRIN Verlag, https://www.grin.com/document/269798
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