Customer Satisfaction And Profitability Marketing Essay

Marketing is not difficult thing. Client satisfaction and success are the key purposes in marketing concept. Because of these exact things people can be outmatched their business. If a company satisfies their customers better they don't really have any issue about their business. And also customers attract to the business. Because of the successful marketing business and employees can get more benefits like financial benefits and self-satisfaction. There area so many posers have to face to the businessmen huge competition, environmental factors (global warming, shipment threat, environmental pollution). Therefore the marketers should modify for these things. Most of the people area thinking the marketing is buying and selling concept. It's simply a part of the marketing. All of the entrepreneurs should identify the customers need and wants. And they should provide high quality products as well as the producers should effective charges their products. Involving these exact things the marketing is,

Needs

Demand

Wants

Market

Goods & Services

Cost, Quality & Satisfaction

Relationships

Exchange & Transaction

Figure 1 Center idea of marketing

2. 1. 1 Components of marketing process

Marketing environment

Segmentation

Positioning

Targeting

Marketing mix

2. 1. 1. 1 Marketing Environment

Marketing environment consist of performers and makes outsides marketing and have an effect on the marketing management capability to develop and preserving relationships with the customers. Micro environment can be divided in to 2 teams.

Micro environment

Micro environment

Micro environment

There are five components in micro environment factor.

The company

Suppliers

Competitors

Intermediaries

SuppliersCustomers

Intermediaries

Competitors

The company

Customers

The company

It can be an inside environment factor. Three are various types of management levels and departments in the company. They are top management, money, research and producing, manufacturing, accounting. The company designs the marketing plans to reach their objectives and goals.

Accounting

Manufacturing

Finance

Purchasing

Research & Development

Top management mnt

The company

Top management is placing company vision, objective, objectives and insurance policies. The company marketing manager should work with other departments very tightly to get good results and reach the goals and targets. Al these departments must think about the customers and how to gratify their customers.

Suppliers

Suppliers are the most crucial factor in a company. It really is an external factor. They provide the raw materials to produce the merchandise in the firms.

Intermediaries

It helps to promoting, selling and distributing the business products to the clients or the buyers. You will discover resellers, physical circulation businesses, marketing service firms and financial intermediaries in this factor.

Reseller: - It's a distribution channel, it can help to find the customers and sell the products on their behalf. Retail and whole sale are the reseller.

Physical distribution firm: - It helps to stock good from other opinions of the foundation to their locations.

Marketing service agencies:-It really helps to promote the company. (Marketing, advertising companies)

Financial intermediaries:- It can help to financial deals.

Customer

Customers are the primary priority of a company. Company should identify the customers' needs and needs and also company should fulfill their customers. The customers expect high quality products with good deal from the business. You will find five types of customer market segments.

Consumer market: - It markets the products and services for their own or family uses and bought by individuals. Consumers have lots of choices. So the company should target the various kinds of consumers' alternatives.

Business market: - Business marketers must prove how their products will help these clients achieve higher income or lower costs. The companies providing goods and services to well-trained and well- particular buyers. Because they are skilled people in assessing competitive offering. Business market is similar to consumer market.

Reseller market:- Resell at a a profit

Government market: - Federal government market involves colleges, government office, army and other authorities departments. In order to produce open public services.

International market: - All the types of purchasers in foreign countries.

Competitors

Competitors are the key factor in micro environment. Every companies aspect huge range of rivals.

Macro environment factors

Macro environment factors are influencing from exterior to the company. There are six macro environment factors with PESTEL examination.

The factors are,

Technological

Demographic

Macro environment factors

Political

Economic

Cultural

Natural

Economic factor

This factor influence to consumers purchasing electric power and spending habits. Inflation, economic expansion rate, unemployment, interest rates, taxation changes are affect for the economical factor. Inflation rates influences to the price. An raise the sum of money generally. When discussing the unemployment if folks are unemployed less people have to pay fees or have money for spending. Unemployment is affect for the economic. If people are unemployed they don't really earn money and they don't buy anything. Interest is sum of money need to pay. It's a percentage by way of a lender to a debtor for the use of investments.

Natural environment factor

Natural environment factor has geographic and ecological factors. Environment, whether, environment pollution, global warming they are the natural factors. These are impacting on to the so many sectors.

Demographic factor

There are so many demographic factors.

Population size

Income level

Age level

Growth rate of population

Educational level

Religion

Density

Occupation. etc.

If take income level, job, family size, age level, they are affect to demand goods and service. When these factors are increasing the companies can increase their earnings through high sales.

Political factor

It has close romance with economical system and economic policies. Business legislation has been ratified for range of reasons.

To protect companies

To protect consumers

To protect and interest societies

Technological factor

Technologies are extremely important things for the firms to produce the merchandise. Numerous companies make an effort to produce their products including new technologies. Online shopping, barcoding system area the technologies improving the business enterprise.

Cultural environment

There are so several parameters in ethnical factor, society's benefits, prices and norms.

2. 1. 1. 2 Market segmentation

What is segmentation?

Dividing market in to unique group of clients based on needs, characteristic, or habit who might be require independent products or marketing combination.

The segmentation principle has recognized by Smith in 1957'. He grouped the clients in terms of these needs. Segmentation has so many advantages.

Advantages

Explain about the advantages

Customer analysis

When segmenting, that may be identifying the best customers and customers' level.

Competitor analysis

It recognizes the competition each companies. When segmenting companies can identify the competitive companies products qualities.

Expanding the market

Expanding market is a best feature in a business. Because they can identify the new customers. The business can increase their sales.

Strategic market planning

The planning is the procedure of developing and keep maintaining a tactical appropriate in a business to attain goals and targets.

Effective resources division

Company scarce resources can be essence more efficiently over a few customers, alternatively than pass on thinly through the people.

Segmentation variables

There are so many ways to segment the marketplace. The major segmentation parameters are,

Geographic segmentation

Psychographic segmentation

Behavioral segmentation

Demographic segmentation

Geographic segmentation

It can be divided in to several unites. They are countries, cities, areas, states, region and also customers living place like climate places or not. The natures of products apply and then people living within a particular area. For good examples if take clothing company they sell heavy-weather clothes for cold coastal areas. And in addition solar system that product difficult to market upcountry people because that folks can't store more sun rays. Some companies target the young people to market their products. So they try to reach universities towns because teenagers recurrent in these places.

Demographic segmentation

Demographic segmentation can be divided in to various unites. Age group, gender, income, profession, family life cycle, region, nationalityetc.

Psychological segmentation

Physiological segmentation classifies consumers regarding with their personality. It could be divided in to three unites. Friendly school, Lifestyle, Personality characteristics.

Behavioral segmentation

Behavioral segmentation can be handy and consistent way of segmenting. Consumer knowledge, attitude, respond to a products will be the unites of behavioral segmentation.

Effectiveness of segmenting

Money

Degree to which market is segmented

Number of the unites sold per mind of total population

Cost of adopting product

Premium consumers will pay

2. 1. 1. 3 Market Targeting

When dividing the marketplace in tom segments, company managers must make a decision which segment will be nest someone to target. The professionals should select profitable segment. The procedure of choosing a portion to a company is called concentrating on.

2. 1. 1. 4 Positioning

Positioning is the place a product occupies in confirmed market as intended by the relevant group of customers. Consumers build-up a posture for something based on what they expect. The product position has perceptual map of the market. Sometimes the positioning process led by the marketers or by the consumers.

Perceptual map

High quality

Cowboy brand High grade brand

Low quality High quality

Economic brand Bargain brad

Low price

Positioning can be divided into several types.

Low price- Some companies' position is offering goods & services with good deal.

High price- That is opposite of the reduced price strategy.

Quality- Some companies make an effort to produce high quality products and services than the other competitive companies.

2. 1. 1. 5 Marketing Mix

There are four factors in marketing combine. It's called 4Ps.

Price

Product

Place

Price

Discount

Incentive

List price

Allowence

Product

Quality

Variability of goods

Design

Brand

LabelingPromotion

Target customers

Place

Transporting

Warehousing

Promotion

Advertising

Personnel selling

Sales promotion

Public relations

Direct marketing

Price

What is price?

An sum of money incurred for goods and services.

There are several labels of price these are, rent, tuition, fee, fare, rate, interest, and prime. Price is very importance to the economics.

Importance of pricing

Maximizing profit

Maximizing revenue

Maximizing sales

Survival

Facing competition

Market skimming

Internal and external factors of price

Internal factors

Business goals: - When campaigning reason for maximizing sales, it will be deciding the costs.

Marketing strategies: - When pursuing promotion strategies the companies are deciding a higher price for the merchandise.

Cost: - It can be divided in to two types. These are resolved cost & Variable cost.

External factors

Nature of the demand: - The marketers should identify the relationship between prices & demand.

Competition: - THE BUSINESS should identify the costs of competitive companies.

Government insurance policies:-

Economics situation: - Inflation, awaking of economics, fluctuation.

The means of pricing

The company can give a law price or a higher price because of their products. If get a high price, demand will be dropping. If get a legislations price, demand will be increasing. Mentioned bellow the factors of deducing price.

Consumer price

External & interior factors

Competitive cost

Production cost

Law price

No profit

High price

No demand

The factors of deducing price

There are pricing stages.

Cost-based pricing

Buyer based pricing

Competitive established pricing

Cost-based pricing

Cost plus pricing

Ex: - Permanent cost=Rs. 500, 000

Variable cost= Rs. 10

Unites of sales=100, 000

=10+5

=RS. 15

Marketer expect to get 20%profit, then the computation is,

Price= 15/0. 8

=Rs. 18. 75

Break even pricing

The more developed companies are using this prices. The main goal gets more profit from their investment.

Ex:-

=500, 000/8. 75

=57142. 85=57, 143

Total revenue

Break-even point

Fixed cost

Pricing strategies

Skimming price

Penetration price

Product blend price

Price adjustment price

Competitive price

Skimming pricing

Skimming pricing is When deciding the price because of their products they determine a higher price than the other completive products. Here the company tries to say they have high quality products. The customers are planning that company has high quality products because of the high price. When introducing a fresh product to the marketplace, marketers are third, method.

Penetration pricing

Here, the marketers make a decision law price with their products than the other competitive products. So the customers want to buy the products to experiment. The primary purpose of penetration costing is motivating and bringing in the customers because of their products.

Competitive pricing

Most of the businessmen are using this strategy. Here, the marketers decide same price when comparing the other competitive products.

Product combination pricing

It uses when producing a range of good for the market.

Price modification strategy

The marketers determine the price taking into consideration the characteristics of consumers and the marketplace.

Place/Distributing

The place is the marketplace which is to sell the merchandise and services.

There are three main factors when deciding the ways of distributing goods and services from developer to the customer.

The market

The product

The producer

Under the marketplace company should identify, who will be the customers? Where are they? How much do they buy?

Under the merchandise company should identify, the way they qualify the merchandise, what is the purchase price, what exactly are the top features of the products, what the services company should supply are, and the type of pave to identify. Product life pattern.

Under the designer, there are so a lot of things have to recognize. They are do they have warehouse services and move services, do they have enough money and what are they producing.

Distribution channels

Manufacture

Wholesaler

Retailer

Customer

Distribution route functions

Providing the info: - Providing the research and intelligent information to the company and herald to the customers that are in market.

Promotion:-Developing and spreading the goods and services for the customers like the benefits. (Special discounts, allowance)

Negotiation: - Getting and an arrangement on price and other period of the offer so that possession or possession can be moved.

Risk taking: - It helps to get more profits.

Strategies of distributing

Strategies

Products

Price

Intermediates

Incentive

Convenience goods

Law price

Wholesale, retail and Representative

Selective

Shopping goods

Law & high price

Limited retail seller

Exclusive

Special goods

High price

Specialized retail sellers

Integrate

Special goods

High price

No wholesaler and dealer, direct producer

The means of distributing channels

Consumer goods

C

U

S

T

O

M

E

R

P

R

P

D

U

C

E

R

Wholesaler

Wholesale

Jobber

Retail

Retailer

Wholesaler

Technical or professional goods

Distributor of professional goods

Representative of producer

Representative of producer

Distributors of professional goods

P

R

O

D

U

C

E

R

B

U

S

I

N

E

S

S

M

A

N

N

3 Promotions

What is campaign mix?

Informing the clients about the merchandise availableness and benefits, and motivating to choose the products.

There are five factors in marketing combine,

Advertising

Personal selling

Public relations

Direct marketing

Sales promotion

Advertising

It helps to persuading the customers for the company products and services. The firms should purchase the advertising medias to market their products. There are so many advertising ways,

Medias (printed out media, tv, radio), Social networks (websites, internet), Bannersetc.

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Purpose of advertising

To inform

Persuade

Remind

To inform- There are so many ways to see the clients. Companies have to inform about their products and the assistance to the customers. These are,

Informing about the new products

Informing what are the great things about the products customers can get.

About the prices

Informing functions of the merchandise.

Persuaded- The main purposes of the persuaded are,

Incentive to choose the products and services.

Introducing the brand new products to the market

Providing benefits like, special discounts, allowancesetc.

Remind-This is one of main goal in advertising.

Reminding what exactly are the places that the customers can get the merchandise.

Company should remind their products feature for the client.

They should identify tips when the business selecting an advertising advertising for advertises their products. These are occurrence, impact. If take rate of recurrence it is very important when advertising, because the customers can care about the merchandise and also impact is very important thing for advertising.

Public relations

Companies should have a good romance with the other companies and the customers. Because of that company can build up favorable attitudes.

Ex: - Discussing, conference

Direct marketing

Companies try to deliver their products with no intermediates.

Ex: - Tele-marketing, Direct-mail, E-commerce

Personal selling

Also it can help to develop the good human relationships. There are various names to recognize the folks who are doing sales

Sales people, sales agent etc.

Product

Products can be divided in to three types.

Tangible

Durability.

Goods and service

Goods and services also can be divided in to two groupings.

Consumer products

Industrial products

Company products and services should have three major features theses are,

Quality

Feature

Design

Product life cycle

C:\Users\KANISHKA\Desktop\470_1304106. jpg Product life cycle

There are 4 stages of PLC.

Product developments stage-There are no any sales in this stage. Here company can create the new ideas plus they can form these ideas

Introducing level- Sales are increasing little by little. No profit margin.

Growth stage- Normally sales will increase but the cost heading down. So displaying high earnings.

Maturity stage-Here sales expansion will decrease slowly and gradually. Because of the buying products by the potential buyers. Earnings will be lower.

Decline stage- Sales will decrease in this stage. Also income will lower.

2. 1. 2 Benefits of the company

Ceylon biscuit limited (CBL)

Sri Lanka's first biscuit factory is William's Biscuit manufacturing plant, managed by Mr. Williams. He has made name as a small size handmade biscuit project. In 1939, this stock was achieved by Mr. Simon Arthur Wickramasingha (1902-1984, introducing 'Williams Confectionery' with just 10 employees. This manufacturing plant was dehumanized in 1957 with Baker Perkins lines from the UK

CBL's commercial procedure in the 1980's received highest growth rates in virtually any industry in Sri Lanka. CBL required heart and soul into India bond up manufacturing crops and procuring related companies while also procuring several companies in the food industry and thereby building CBL Foods

The group's new technology make range, high quality specifications and aggressive marketing strategies likewise have made chances for many of CBL's brands to be the marketplace leaders in their particular categories, while empowering an ever before expanding global existence.

With throughout 40 years of quality experience, advancement, technology, quality and preference are the guiding ideas behind everything, CBL do in obtaining their vision is to be the No. 1 biscuit, chocolates and confectionary company and marketer in Asia, while amplifying a global presence and recognition

Products of the CBL

http://www. muncheelk. com/images/biscuitss. jpghttp://www. muncheelk. com/images/desserts. jpg

Biscuits Jelly

http://www. muncheelk. com/images/cakess. jpg

http://www. muncheelk. com/images/chocolates. jpg

Cakes Chocolate

http://www. muncheelk. com/images/soyproducts. jpghttp://www. muncheelk. com/images/cereals. jpg

Cereal Products Soya Based mostly Products

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Soups Natural Products

Task 03

Marketing mix strategy adapted to one of the CBL products is Munchee biscuits.

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3. 1 Product strategy

There are so many biscuit products in CBL.

Super cream cracker

Munchee tiffin

Hawain cookies

Munchee nice

Chocolate biscuit

Lemmon puffetc.

They refer the products elements. They are, Quality, brand, styling, safe practices packaging and guarantee. They are employing eye-catching presentation which is ability to keep the food stuff for a long time.

3. 2 Distributing strategy

CBL Company has so many companies which are mounted on their distributing. They spread their products through 60 businesses and 400 traders in Sri Lanka and their products can be purchased in over 80, 000 sales opportunities in Sri Lanka. The products are producing in Ranala & Pannipitiya. CBL exports their biscuit products to abroad countries like Australia, India, Guana, China. etc. As well as have various types of transportation programs. These are transport and cargo services and air lines

3. 3 Prices strategy

They are employing several costs strategies. These are retail price, bundles, general price and special discountsetc. The complete munchee biscuit products have the same price levels when comparing the other competitors (Malian, Maam). They don't really target upper level classes in culture. CBL is targeting complete customers in Sri Lanka (Top, midsection and lower). So CBL Company proceeds their prices with competitors and escalates the quality of the biscuit products.

Promotion strategy

CBL (Munchee) has various varieties of promotion promotions. They are sales promotions, pr, advertising and publicities. They are using print press and victuals to advertise their biscuit products. They are really doing some of welfare services like scholarships, granting, education equipment to the students and donating to the religious cores and colleges improves and have the goodwill with their brands

3. 5 Expanded marketing mix

3. 5. 1 People

Ceylon biscuit limited using appropriate recruiting and training options for their workers. After recruiting they give about fourteen days training curriculum to inside people before working. They may be organizing leisure programs. These are entertainment (munchee with ridee reyak), annual outings, musical shows. The corporation provides medical facilities insurance (life & health) for their people.

3. 5. 2 Process

CBL offers a very productive providing service to every city in Sri Lanka and other countries using their transport firms.

3. 5. 3 Physical evidences

Physical information is important in supervisory potential buyers of intangible services through the choices available to them. Ceylon biscuit company retains their factories and distribution places that have so many machineries cleanly and friendliness manner for employees.

04 Task 4

4. 1 Planning to introduce a fresh product with two segments

CBL has recently created cakes. But those cakes include the eggs. Some people don't like to eat cakes because of the eggs. So CBL make an effort to introduce a fresh product, it is also cakes but without eggs. Name of the merchandise is Swiss spin cake.

Segments are,

Existing Swiss spin and egg free Swiss roll.

There are no age limits for the cakes. 60 some people don't like eat eggs, because of the case they don't prefer to eat cakes.

4. 1. 1 How to affect marketing blend for the new product

Product

The first level in building an affective blend is to understand the market. The prospective of the product is a lot of people are can't stand to cakes as a result of eggs. So CBL tried to produce this product to be familiar because of this people. The business improved the merchandise to make far better and more customer friendly. If take packing new product packing is comparable to existing product packaging and flours are vanilla, delicious chocolate and strawberry. There are various varieties of sizes of the product. Large load up size is 300g. For healthiness of the clients company create small packets of cake with legislations price (Rs. 20). Existing product ingredients are, Flour, sugar, salt, eggs, margarine, various flavors,

Price

There are so many factors affect end price of a product. Including the business must maximize earnings or sales. The merchandise price needs to offer value for money on the market and attract customer to buy.

There are so many prices strategies a business can use:

Cost based pricing - this may either essentially cover costs or include an element of revenue. It emphases on the merchandise and will not take profile of consumers.

Penetration price - An initial low price to ensure that there is a high volume of acquisitions and market show is rapidly acquired. This strategy promotes consumers to build up a habit of shopping for.

Price skimming - A short high price for a distinctive product uplifting those who want to be 'first to buy' to pay reduced price. It can help a business to gain maximum income before a competitor's product influences the market.

Our new product has various prices

300g-Rs. 200/=

175g-Rs. 125/=

30g-Rs. 20/=

Place

Our company aspires all the customers in Sri Lanka. Specially unlike people for the eggs. This product can buy shops like super marketplaces or high street shops.

Promotion

Promotion is vital method for new product. Because it helps to market new product easily. There are so many campaign programs like Medias (published media, Television set, radio), social networks, banners. . . etc. CBL uses the campaign campaign to market this new product to the marketplace. Also give a big advertisement through television set.

4. 2 Dissimilarities in marketing products and the services.

Marketing products and services have so many similarities as well as variations. Products advantages from adding reliance and name popularity into the marketing materials, but products can be desire purchases whereas services need time for delivery. There are so many dissimilarities between marketing products and services, most of which focus on relationship building.

explanation

Time

When selling something there is time invested to create the product and sold again without further time spent. Time is vital part of marketing.

Deliverability

When marketing something marketers can get customers a delivery night out estimate. These are purchasing online or through web sites. The marketers can go out the door with the merchandise in hand. Service can offer following the customers' purchased.

Relationships

When services build-up the customers must have trust and trustworthiness.

4. 3 How and why international marketing differ from domestic marketing

What is international marketing?

International Marketing is the performance of business activities that direct the current of any company's goods and services to consumers or users in several country for a profit.

What is domestic marketing?

Domestic marketing is the fact that the company has to market its products within the national authority of the country without considering the ramifications of global competition.

Factors

Domestic marketing

International marketing

Social and ethnical factor

Working with relatively.

Rules of the inclined.

Purchasing habits are similar.

Split market

Rules are divers. It will be able to change and unclear.

Competitive factor

Here companies can identify the rivals' products, price strategies and costs.

There are so many rivals. But some information can get about these strategies.

Political and legal factor

Relative flexibility from government interface

Participation in countrywide economic plans

Technological factor

Use of typical creation and measurement software.

Training and international workers and maintain equipment.

Economic factors

It has secure business environment.

Unchanging financial climate

Multiple business environment

Variety of financial climate

It differs so many ways as interpersonal & ethnic. Economic, competitive factors, technical and political.

Ceylon biscuit limited has a best home and international market. They have got about 60% domestic market shares. CBL exports their products over 45 counties on the globe.

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International market in CBL

Also We Can Offer!

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