Part 1: understand the concept and process of marketing
At the beginning of the part the elements of the marketing process are discussed. There are different elements for the marketing process. All those elements are equally important. Cost and benefits of marketing are also important to know.
1.1 Explain the various elements of marketing process
Generally the marketing process consists of four steps. These are
(1) Targeting: targeting means focusing on the type of customers we are going to offer our product. And divide the customer sections into parts. Our desired customer and who are not. There are some factors to be considered when targeting the people, these are- economic factors, demographic factors, social factors, cultural factors …show more content…
We will discuss here micro and the macro environment factors, segmentation criteria, targeting strategy for the product, buyer’s behavior and different marketing positioning for the firm.
2.1 show micro and macro environment factors which influence marketing decision.
Micro Environment: Micro environmental factors influence the marketing decision of the Tesco. Factors are customers, suppliers, shareholders, employees, media, and competitors.
Customers: They are the core center point for the Tesco PLC. Customer choice, customer preferences play significant role in the production of the firm
Suppliers: Another important factor for the Tesco. The success of the firm depends on the quality of the materials provided by the suppliers (Goodfellowpublishers.com, 2014). Tesco has to make good communication with its suppliers.
Employees: They play important role in the development of the firm. If employees are not skilled production will not be satisfactory. So employees should be given proper salary, promotion and other …show more content…
Macro Factors: These are –
Demographic: includes profession, age level, address of the customers.
Economic: It includes the financial capability of the customer for buying the desired products (HOWELL,2011).
Technological: Whether Tesco is up to date with the modern technology, machine etc.
Natural factors: The natural
At the beginning of the part the elements of the marketing process are discussed. There are different elements for the marketing process. All those elements are equally important. Cost and benefits of marketing are also important to know.
1.1 Explain the various elements of marketing process
Generally the marketing process consists of four steps. These are
(1) Targeting: targeting means focusing on the type of customers we are going to offer our product. And divide the customer sections into parts. Our desired customer and who are not. There are some factors to be considered when targeting the people, these are- economic factors, demographic factors, social factors, cultural factors …show more content…
We will discuss here micro and the macro environment factors, segmentation criteria, targeting strategy for the product, buyer’s behavior and different marketing positioning for the firm.
2.1 show micro and macro environment factors which influence marketing decision.
Micro Environment: Micro environmental factors influence the marketing decision of the Tesco. Factors are customers, suppliers, shareholders, employees, media, and competitors.
Customers: They are the core center point for the Tesco PLC. Customer choice, customer preferences play significant role in the production of the firm
Suppliers: Another important factor for the Tesco. The success of the firm depends on the quality of the materials provided by the suppliers (Goodfellowpublishers.com, 2014). Tesco has to make good communication with its suppliers.
Employees: They play important role in the development of the firm. If employees are not skilled production will not be satisfactory. So employees should be given proper salary, promotion and other …show more content…
Macro Factors: These are –
Demographic: includes profession, age level, address of the customers.
Economic: It includes the financial capability of the customer for buying the desired products (HOWELL,2011).
Technological: Whether Tesco is up to date with the modern technology, machine etc.
Natural factors: The natural