Marketing Essay Example | Topics and Well Written Essays - 2500 words - 8

Marketing - Essay Example Concept of Marketing The marketing concept can be described as the achievement of corporate goals through meeting and exceeding customer needs and expectations better than the competition or competitors. This can be done by three steps: 1. Customer orientation – the company’s main focus should be on its target market i.e. customer satisfaction rather than solely improving costs and methods for the company itself 2. Integrated effort – fulfilling customer satisfaction is not a one-man job, it requires a management team and workforce with the common motive to achieve this task through production, finance, research and development 3. Goal achievement – for integrated work to run smoothly and successfully, the management must have strong belief in the fact that corporate goals can be achieved through consumer satisfaction. Marketing Mix A marketing mix is a company strategy that helps boost a company customers, profits and innovations with the help of four ste ps (known as the 4 P’s) i.e. product, price, promotion, and place. These 4 Ps are the key decision elements that marketers must follow in order to achieve the wants and needs of their clientele above their competitors. This marketing mix however has been extended to 7 Ps with the three additions of people, progress and physical evidence due to the rapid growth of the service industries. The emphasis of every individual element varies depending on the commodities the organization offers. Product. The product decision includes choosing which goods and services the company is willing and able to produce and supply to its target customers. This includes product creation as well as integration and development where by the products supplied and new and improved with the advancements in technology and taste. This phase also includes the branding image of the company i.e. its name, packaging and promotions and offers. It seems that Britvic seems to rely on the porter’s model o f differentiation to keep its products relevant to the UK’s beverages market. Hence there is more focus on offering the customers a good variety and availability of product, importantly, along with a focus on development of the products to keep the customers interested rather than offer the highest standards of quality (taste) or uniqueness of product and taste. This might be because a large part of Britvic’s business activity consists of distributing drinks of established brands such as PepsiCo and hence the company can choose to rely on provision of quality service to other businesses to maintain relevance to the consumer market rather than on maintenance of quality. Placement. Placement deals with decision making regarding distribution channels. Key management decisions stress upon locations of its outlets, transportation facilities, and inventory levels of stock and stock needing to be reordered. The main goal is to ensure products and services are available in the desired and sufficient quantities, at the desired time durations and venue. These distribution channels consist of organizations such as retailers and wholesalers who act as an intermediary through which commodities pass on their way to customers. Producers need to manage their relationships with these organizations in order for them to provide cost-effective access to that specific firm and the market they belong to. They also need to be familiar with new methods of

ARM Holdings s response to changes in the microenvironment Essay

ARM Holdings s response to changes in the microenvironment - Essay Example The firm that is analyzed in the paper is ARM, the producer of most microprocessors used in mobile devices like mobile phones, smart phones, servers and embedded devices. Intel dominates the manufacture of microprocessors for laptops, desktops, tablets and other computer devices. Though they share a related field in different industries, both firms are different, and each dominates a section of the market that its competitor did not want to venture, until recently. Recent events in the information technology industry have caused a shift towards the mobile industry, and both firms have enough interest to invest in research that will enable them to produce microprocessors for use in the domain of its competitor. ARM intends to shift into building processor architectures for the PC, tablet, and laptop industry while Intel wants to shift to producing processors for the mobile industry. However, this shift is faced with limitations since the two companies are pushing their strengths that had resulted in their domination of their current market. ARM does not build its processors; rather it sells the architecture to firms like NVidia, QUALCOMM, Apple and Texas Instruments that have the necessary infrastructure to build the designs. It charges these companies for up to 2 % of the revenue from the processors for each processor that is incorporated into a device. The ARM processors are characterised by low energy consumption that makes them ideal for mobile devices, and the firm also designs some processor architecture that are incorporated into servers. ... ry has more potential for growth than the PC industry, and that is why Intel has shifted attention towards developing microprocessors for mobile devices. Intel aims at doing this by improving the energy consumption of its processors since their processing power is the best in the world. On the other hand, ARM has already developed processors for use in personal computers, tablets and other devices that use operating systems that are primarily built for computer systems. This will pose a threat to companies like AMD since ARM has the capacity to improve on its technologies since it does not build the processors (BDTi, 2011). Environmental Analysis Industry Cycle The microprocessor industry has reached its maturity stage as it has existed for a long time and firms have already established their niche markets. However, since this is a research, innovation and development-intensive market, the industry has retained the characteristic of an emerging market. In addition, due to the versati lity of information technologies, it is likely to remain so as firms come up with new architectures, forms, and configurations of processors. Therefore, in its strategy, ARM should not only look at current developments, but also anticipate future changes in order to have a competitive edge against leading market players like Intel, and avoid being overtaken by emerging firms (Porter, 2008: 89). Porter’s Forces There are five main environmental forces that ARM has to deal with in its quest to venture into the PC market and retain its competitive edge in the mobile market, three of which are macroeconomic and two microeconomic. The porter forces give an over view of the steps the firm should take in order to achieve its objectives; these changes include: The entry of Intel and other firms