Olympic is global event, it is world participate event and complete world becomes a one community with one ambition. With this event, more people migrate to London while others people are indirectly take part through advertising. More migration brings about increase London population and identical to more money involves London, therefore it creates new marketing opportunity in London and UK. Many of multinational companies invest because of this big task and every company want to increase their sales of creation and services. It generates big competition among the list of same products and providers. Proper marketing plan is vital to attain marketing goal of London 2012. Already government and private sector has spent additional money for the many tasks and improvement of infrastructure facilities, especially Stratford area infrastructure facilities is being improved upon. At finally they have to harvest profits of the event with successful marketing strategies this project transform the City of London into a product to create global interest and marketing places through the delivery of London 2012.
Definition of marketing
The charted institute of marketing (CIM) described marketing as ''the management process accountable for identifying, customer anticipating and gratifying customer needs (requirements) profitably'.
Philip Kotler described marketing as 'gratifying needs and needs through an exchange process'. But P. Tailor described ''Marketing is not about providing products or services it is essentially about providing changing benefits to the changing needs and requirements of the customer''. When comparing all above three dissimilarities there isn't big distinctions, but charted institute of marketing (CIM) identified marketing as management process and responsibility and it is specially mentioned, it should be profitable manner, but according to Philip Kotler definition it refer to as exchange process. When you compare both meanings with P. Tailor explanation it's been defined as providing changing benefits to the changing needs and demands of the client. Finally, compare with above three explanations, common thing of all three definition is 'satisfy customer needs and demands with profitable manner''.
Source: http://www. learnmarketing. net/marketing. htm
Business organizations change using their orientation. You will find four main orientation as creation orientation, Sales orientation, Product orientation and Market orientation. Development oriented business is principally emphasis to create large amount of output and thereby, they may be geting benefits their economies of scale. Sales orientation is principally emphasis to market greater amount of productivity inappropriately of whether the output is required by the client. Product orientation is mainly emphasis with the quality of its own products and service. A company assume that as long as its product was of a high standard, people would buy and take in the products.
Marketing orientation is principally emphasis of the client first and the needs of the business next. The business organizations main ambition is to meet the needs of its customer, which is an outwards aspect of business.
Main Characteristics of Market Oriented Organization
Market oriented organization consider the customers first and they share the normal value of best value of products and services.
Market Oriented Organizational has very easy system and their policies are not very hard.
Market oriented company Strategies are long-term, flexible and participative.
Market focused organizations matter the ambition of the stakeholders before implement any decision
Decision are being considered on superior exterior and inside values
Production efficiency is results of the coordination of resource and requirements anticipations
London 2012 Task is a market oriented organisation or not
London 2010 Olympic project is key will be key function of modern times of London. There are numerous companies are targeting this happenings for increase of the products and services. There may be big competition among same products and service providers, with this conclusion there have to locating solution to conquer each other. All are focusing on same consumers so consumers have many options for their preferences that cause them to select best product and service. When they choose best products or service, quality and price are highly considered, with this situation companies have to recognize customer behaviour and they have to provide more goal for customer satisfaction. This situation create the marketplace oriented business, therefore 2012 London Olympic job is a market oriented Company.
Marketing concept with reference to the Olympic marketing activities
There are various elements of marketing ideas. Olympic is huge situations in the world many organizations joint with this occasions and they make an effort to increase their market tell this event, especially multinational companies will lead in this incidents, almost all of time they are really the main sponsors. With the marketing activities, marketing ideas are very important to achieve their marketing objectives. In here mainly matter about few marketing principles related to Olympic event as fallow:
Target market is Defining exactly who we are targeting allows companies to concentrate on specific customers and reduce marketing throw away. In Olympic game various customers (Sections) will take part, as a one company it cannot target whole customers so they have to identify concentrate on customers in effective and efficient manner.
The marketing mix is generally defined as product, charges, place, and promotion. As a company must specifically decide on its products, the appropriate prices, where and exactly how it'll be distributed, and exactly how it is communicated to everyone. In Olympic occasions, proper products or service recognition is vital, in such special day target customers are definitely more therefore good deal and increased sales concepts is very important when contemplating price. Olympic is big place for marketing but circulation system and way of distribution is induced its success. Proper campaign programme create more customers because it is communicate of customers effectively and successful manner.
Strategy immediately uses planning because strategy is the building blocks for the rest of marketing activities. Along the way of planning, we must design our strategy: who we will target, how we will target them, and how will we keep them as a customer. In Olympic occurrences unique strategy is exhibited by many of companies. Especially transports system of London, it will be expanded because these days population in London will be go up, so regular service is not enough, bank activities will increased with higher money circulations bank sector must implements new strategy relating to that situation.
Customer romance management, advertising and Campaign, Branding and budgeting are others important marketing ideas related to 2012 Olympic occurrences. All those concepts concern is lead to ecological marketing process nowadays celebrating event in London.
Benefits and costs of marketing approach for London 2012 Olympic
When managing such mega incidents Cost is very high and benefits also identical to it, when contemplating cost it is related to various aspects the following:
Big investment for infrastructural facilities
Care must be taken to differentiate spending by residents from spending from non-residents, and to take bill of spending that
Advertising and promotional cost is very high
Environmental air pollution increased
Illegal activities increase
Increase management and recruitment cost
Implement many facilities for 3 weeks duration and sometimes then it can't be used.
Many organizations have to increase infrastructures within small amount of time which is big investment within small amount of time.
Highly pay for entering with government authorities barriers
Benefits of marketing approach
The Olympics provides a increase to tourism and travel to London, through the Olympics and hopefully after Olympic games.
Helps to regenerate the East part of London and this area business Organizations
Encourages sport in the united kingdom, might make the united kingdom have better fitness specifications and less obese lowering demand on healthcare and it lead for success of business company who are including in related to business.
Improve transports sector infrastructure and income.
Within short term, Company can increase their sales
Sports equipments requirements will be increased, and that kind of companies has good possibility to increase with their sales and invention of new products and good opportunity to introduce that
Olympic is world participate happenings, so advertising is major situations and they have big completion. In any manner companies have very unusual opportunity to communicate their therapeutic massage through Olympic game.
Hospitality industry has big chance to develop their service, especially hotels, it offers chance to increase their room occupancy and promote their services and service. And same as textiles industry has big opportunity to expose fashion related to Olympic game.
Task 1. 2
Macro and micro environmental factors which impact marketing decisions of London 2012
There are various factors in the macro-environment that will affect the decisions of the managers of any business. Swelling, recessions, environment air pollution, Tax changes, new laws and regulations, trade obstacles, demographic change and federal government policy changes are all types of macro change. PESTLE model is vital to analyze macro environment of 2012 Olympic game in London. These factors are immediately influence making decision of London 2012.
These concerns to federal government policy such as the degree of involve throughout the market, through the Olympic game 2012 and before that government will create many guidelines for manage it properly. They'll introduce some marketing obstacles and special duty regulations and etc. So these changes affected to any business decision making process. Specially health insurance and safety insurance policies are essential, because in 2012 London society will increased more than present situation and boost the their activities, therefore federal has to concern about these situation plus they have to improve policies regarding to situation. Immigration policies are another regarding area because there is opportunity to entering illegitimate people and illegally sustain in this country. In the movement infrastructure is advanced which will be a big impact for marketing decision.
Government asks to invest to these massive occurrences, big companies have a good possibility to increase their sales and create innovations during this time period. So there are required some drive, it is administration responsibility to motivate them presenting some economical advantages to them as reduce standard bank interest rate, mortgage, taxes benefits and etc. During this period there will happen many opportunities for the investors and folks also ready to spend more income so economically London changes. But still inexpensive recession is is accessible. Financially factor will major effect for decision making process of 2012 London.
In 2012 London society increase more and different geographical differing people across the world should come here. With the population increase, needs and demand will be increased more, and with differing people arriving, different goods and service are demanded. Regarding to above situation, new opportunities and competition enter to market therefore in decision making process is effected public factor more, so organizations have to totally concern relating to this situation when they are getting new decisions.
During Olympic season and before Olympic many organizations are ready to introduce their services. Companies' objective to do technology parallel to 2012 Olympic, specially mobile phone companies, tourism organization, hospitality organization, finance institutions and etc. During this time period technology will do main part of market, because London is a technologically highly improved upon city. With matter all above situation technology influence for decision making process for marketing in 2012 London.
Market must adapt regarding to such situation, because environmental factor cannot be change and solution version matching to situation. Especially during 2012 human population in London increase more same as there is chance to increase environmental air pollution, when decision making process, organizations need to concern about this situation. More textile companies will bring in fashion to market parallel to Olympic game, at that time they need to concern about local climate in London during this time period.
Legal factors are extremely important to proper market control during this period.
Market segmentation is the id of helpings of the marketplace that are different from one another market (products or service). Segmentation helps the firm to better fulfill the needs of its potential clients. Consumer markets can be segmented on in line with the following customer characteristics and behaviours.
Source: http://www. freebizplan. org/business_strategies/marketing/marketing_oriented. htm
Segmentation Conditions for different Products
Company can use different market sections for hair shampoo. When considering gender wise they have two market segments as men and women. It could be further segmented according to age sensible; there are few segments under generation as Children, young, adults and old people. And another portion is family hair shampoo. Shampoo can be segmented according type o scalp of customer as normal locks, dry mane and dandruff hair.
Hair hair shampoo can be segmented more segments further, corresponding to customer income it could be divided three segments as high income, low income and normal, but the majority of shampoos brand is focus on normal income as common income level since it is not really a expensive items as illustrations: Dove, Sunsilk, Pantene, Clear, head and shoulder
If any company needed, it can be further segmented bottom part on activities as Sport players, students, occupied people and standard.
There are different market segments for the shoes. It can be grouped under various standards of segmentation.
There are two Segmentation platform on gender sensible as women and men shoes. Another section is dependant on time level as baby, Children, young, Adult and old people. It could be categorized further portion basic on Activities as Activities ware and Casual ware. There is certainly another segment corresponding to Season as summer and winter. Under the demographic Criteria profession is vital for shoes portion it could be segmented as Professional shoes, Labour shoes and general shoes. Customer income is another practicable segment it is choose social position as high income, low income and middle class (middle income) as examples of Brand for above segments are: Adidas, Nike, Rebook and etc.
Effect of the segmentation factors and financial features to target marketing strategy
When considering above Segmentation criteria organization has to concern its financial features. Big company like multinational brand, they can commit more money because of their production and so they can identify various markets and then creation can be allocated according to those sections. Company like Adidas and Nike have big investment power and high market share in worldwide, therefore they have significantly more strength to treat every single target market. But small enterprise cannot reach every market portion. So such firm should identify the most suitable conditions (profitable and cost-effective)
When they are really purchasing a product there several procedures, which consumers go through? These will be shown below.
Evaluation of different purchase options
Post purchase evaluation
Factors influencing the behaviour of buyers
Consumer behavior is affected by many uncontrollable factors.
Culture is one main factor which effected behaviour.
Other factors like sets of friends, or people they research to result their selection of purchasing a particular service or product.
The customer economical environment also offers an affect on consumer behaviour
Marketing and marketing campaign obviously affect consumers buying behaviour
Peoples social position is impacted their behavior. There are plenty of factors influence on consumer behaviour.
Buying situation of Olympic Branding products of standard sponsors
When considering Olympic sponsors, they are really big company who are working in UK market; they have got good market talk about and good Brand image in UK and beyond UK as well. Olympic is massive event and worldwide people should come to London, start situation, many opportunities will be raised and those customer buying vitality also very high so Brand image is vital factor for buying process. Besides that customer culture and environmental situation in in those days lead to customer buying process, especially considering about English airway they have got good possibility to improve their travel sales. And customer prepared to offer more income for this events because their come to enjoy and get experience in here. Advertising will be motivated customers buying process.
1. 3 Task
How take competitive features of standard sponsors in Olympic game
Olympic is Mega event and worldwide people are associated with this directly and indirectly, but almost all of people are associated with indirectly through the telecommunication, especially internet, television set and through other advertising, it is live occasions. A couple of limited standard sponsors together with Olympic game, but these sponsors have offered big investment for this event for take sponsorship. Through this sponsorship their main target is increase their sales volumes and popularized their brand all over the world. With all these, their final purpose is competing with the competitors and increase sales of products. Taking sponsorship also big conclusion because many organization want take advantage of such considerable event to transfer their therapeutic massage to customer which is world one of best chance of that.
Under same product or service two companies can't be a primary sponsor and one company calls for the chance who offers more for this event. But all the firms need to appear with their brand in this event, so they may be unofficially present using various strategies, but all the problem are legal so no person is permitted to take them off, but public sponsors have significantly more unique opportunities those are not offered for unofficial companies, Like as exhibiting brand name with players wares, fastened with ground decor, joint with formal telecast, get maximum legal authority advantages from prevent unofficial companies treatment of this events and etc. So it is big completive benefits for them so they have to try to properly connect their rub with this sponsorship in any other case their investment will be waste.
Effective syndication network for customer convenience
Companies have to properly plan to transfer their rub to customer in London and all around the globe. So that it should become more effective and successful way. Main thing is create proper rub to copy, some companies create unique therapeutic massage specially targeted for Olympic, time it is like a mission assertion. Companies need to create proper adverts for reach to customers very effectively. With this situations customers demand will be increased regarding to such increment company need to change, especially adequate staff, so they have to plan proper recruitment and selection procedure. Development should be increased so companies have to conform small amount of time more production. Creativity is another main factor, every company try to innovate services and service during this season. With all these create an effective distribution net work, skilled human electric power and technology are essential for proper distribution network.
Prices establish to reveal an organisation's aims and marketing conditions
Price setting is very important factor for competition, opponents are always try to reduce cost and price to handle to completion and make the most, low cost and low price strategy is resulting in market orientation ideas, however they need to concern about quality of products and services. With each one of these, quality, low priced and good deal are big completive edge. When price setting up, cost of whole process is known as, and some companies are planning less profit percentage with an increase of sales, in those days they make an effort to keep less margin of revenue and make an effort to increase sales amounts.
These prices setting up rely upon company objectives, cost of process and marketing environment. Many companies make investments big part of money to promote and promotional programme that will lead to increase cost of process. Especially main sponsors are in Olympic game, they have got invested more money for their sponsorship and promotional programme. Price environment is highly complex process, one company needs to identify rival price and market environment before fix the price. But the majority of customers who participates this event, happy to expense additional money because they are coming to take pleasure from with this event and get experience
Organisation (London 2012) integrates its promotional activities to achieve its marketing objectives
Olympic is huge occasions and it is popular in worldwide and more people joints with this directly and indirectly, therefore when putting into action promotional programme is need to considered more factors. Proper integration of promotional activities is vital, because this rub should go all around the globe, so they need to combine with every single country. Olympic light fixture circulation throughout the world is undoubtedly promotional event. When preparing promotional programme, it ought to be match using its marketing objectives. Creative and effective therapeutic massage transferring is one main step of promotional program, link with entire mass media is another step, but more concern for convenient and effective media selection. Using past Olympic superstar is quite typical promotional strategy, but it is more successful strategy.
Marketing tactical decisions generally categorize into the pursuing four controllable groups
Product 2. Price
Place (distribution) 4. Promotion
These variables categories are known as the marketing combine or the 4 P's in marketing. They are the parameters which marketing professionals can control to be able to best fulfill customers in the mark market. The marketing mixture is exhibiting in the following diagram
Source: http://www. netmba. com/marketing/mix/
Marketing mixes for junk food consumer market Segment
Fast food industry is extremely popular in occupied city like London. There are many ideal companies for junk food as McDonald, KFC, Pizza Hut, Domino, Burger King and etc. Marketing mixes software is very important process of success of any company. Product is very important most of fast foods content meet and bread, and potatoes, especially chicken, burger, Pizza and Potato chips are very popular amonst the fast food since it is convenient to customer and easy to process.
Price setting is vital, because there are many competitors in this industry, especially chicken breast shops offer good deal for customers. Place should become more individuals are moving place, specially city area earn more income, because always people are approaching to way of life and they don't forget to have fast foods. Promotion is supplying massage therapy to customers, when new product development, they have to promote it to customers. Many companies like McDonalds, Burger Kings are doing this with their products innovation.
Differences in marketing products and services to organisations
Selling a service is fundamentally different than selling something. It is different to customers and identical to organization. Service rather than a product, we have to realize that services are intangible, therefore it might be a bit more difficult for market customers. When someone buy something, he or she has something they can actually put palm on, that may be bodily seen and even it can be tested before commit to buying it. Services are much more customized. Services are more difficult and it cannot be offered any one, and it is needed special knowledge buying and selling process. When any group providing service they need to more concern about potential clients, and also service firm is long haul because they have to provide continuous service to customers. As examples: Telecommunication group, Education organization, travel sector and etc.
When considering differences service and products, it's quite common for both of customers and corporation so answer for above question is yes.
C. ) International marketing differs from home marketing with regards to London 2012.
International marketing signify it is exceed the political obstacles, some time it will be one country plus some time it'll be several country or all over the world. But local marketing locate to politics limitations. If any corporation must go international market it must concern domestic country regulation and entering country or countries regulation. In related to 2012 London its marketing is required to concern both domestic market and international market. Marketing strategies for both market may be differ, because exterior and inside factors are change from home market and international market.
When one group is applicable their promotional strategy, its international strategy may be differs to domestic country strategy. Because each country political, legal, economical, interpersonal, Environmental and scientific factors are differ, so customer requirements are differ with these exterior factors. Finally Domestic online marketing strategy and international marketing strategy are needed separately implemented, but it isn't always differ plus some time it might be same.
As an example McDonalds has independent marketing strategy in India evaluation to London
Olympic is considerable event in world, it is world participate event and entire world becomes a one community for one ambition. With this event, more people migrate to London and more people are indirectly take part with press. More migration contributes to increase London population and same as more money comes to London, therefore it creates new marketing opportunity in London and in UK. Proper marketing plan is vital to accomplish marketing goal of London 2012. Already government and private sector has invested additional money for the various jobs and improvement infrastructure facilities. Especially Stratford area infrastructure facilities are being improved. At finally they have to harvest profits of the event with successful marketing strategies.
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