What are the marketing practices and how do they apply to your organization or an organization that you are familiar with?
There are few things that are considered as the vital and indispensible part of an organization that is the marketing practices. The marketing practices of an organization are important in order to enhance and behold its position in the competitive environment of the industrial domain. The marketing practices of an organization includes the customer relationship management, human resource management, along with managing all other aspect of an organization in order to gain more profit and survive in the competitive environment. The marketing practices of Starbucks coffee can be cited in this regard which is situated in Seattle. The marketing strategies of Starbucks coffee are being exercised by keeping the fact of customer satisfaction as the most primary object of the organization. The mentioned organization adapted an effective strategy in relation to customer relationship management which has placed the organization in the leading position in the US (Dorn et al. 2016).
In this part the marketing skills and the capability to manage an opening day for a new business generated by the blisters hardware store in west Sydney would be discussed. As the manager have a budget of $ 30,000 for the concerned occasion, there has a need for marketing practices to be implemented in order to make the new business prominent in the industrial competitive market. The manager of this particular company could follow the marketing strategies of Starbucks coffee that has opened outnumbered outlets in all corners. The main purpose of the implementation of such strategies is to attract as much as eyes to the activities and existence of such business. There would some sizzlers and other food items in so that it would look like some kind of festival which would be able to attract the attention of people. In this regard the media needs to be involved in order to it could take the form of promotional and publicity activity. The most important principle in marketing strategies is the capability to manage crisis, for instance, if the budget will exceed there should always be a contingency plan that would help the organization to overcome the split second crisis. In this regard the example of TESCO can be cited as the organization has evidently reacted to the risks, competition and complexities related to the marketing strategies. Therefore, the planning and the managing skills regarding the marketing practices of blister hardware stores could be implemented by assessing the strategies of the previous success stories in the industrial region.
In order to review the effectiveness of the marketing practices it is important to obtain a clear concept about the practices actually means. Practices regarding market strategies can be referred to strategies, methodology, techniques of implementing strategies and tactics or approaches. Hence it is a vital point in this regard to identify the effectiveness of the practices of in order to have an appropriate insight about the success rate of an organization. There are various methods in this regard that can be mentioned like; the assessment of the marketing needs, implementation of more efficient programme design, revisiting the activeness of information systems and most important the market survey. Organizations like Starbucks and TESCO yearly conducts marketing survey in order to gain a proper idea about the effectiveness of their marketing strategies and customer relation strategies and also to improvise them if needed in the succeeding period (Turok and Taylor, 2006).
The implemented marketing strategies and the processes in which, has been exercised in an organizations needs to be recorded for the comprehension about the improvement or the degeneration of the position of such organization in the industrial market. The documentation of such things can be made with the help of the implementation of information technology or software aided technology. The process documentation of organizations like Starbucks and TESCO are implemented in order to acquire and share the planning, project information as they are being developed so that the organization are able to take informed decision and adapt new strategies without revisiting the old information in this regard (Ungan, 2006).
It is very important for an organization to obtain a clear concept about the market position and the effectiveness of the marketing strategies in relation to the reaction of the customers and individuals related to the concerned field. In order to generate a proper research method it is very important to have a clear understanding about the learning skills that includes the process of collecting information about the concerned organization and also what other thinks about such marketing practices. In this regard the market survey of the organizations likes TESCO and Starbucks has presented research methods that include the quantitative and qualitative data collection from the market survey along with information related to other marketing practices. In this process the information are being gathered by conducting interviews with customers and employees or individuals acquiring proper comprehension about that particular field (Sindhwani and Ahuja, 2014).
Each and every organization needs to form strategies that address the growth and development of the organization and a targeted group of customers or audience can prove to be the effective tool in this regard. For instance, the leafleting system regarding some information or to introduce some new offers on commodity can attract a particular group of audience. Each and every organization possesses a target group that are prone to any kind of deals and offers and this could draw desired benefit to the company. In this context the example of Starbucks coffee can be given as it has successfully attracted a large amount of customers instead of its high price. The leaflets that explain various deals and upcoming outlets of the coffee shop are able to attract a targeted group of people who does not expressed any previous interest in this regard. Therefore, it can be said that producing leaflets as a part of the marketing practices can be beneficial to an organization (Miocevic and Crnjak-Karanovic, 2012).
This is an evident fact that with all the positive outcomes of the implementation of effective marketing strategies, there comes some difficulties which could be handled by an efficient practice of problem solving skill. For example, if any issues regarding the ethical practices during the course of market survey of an organization would arouse therefore, it could be solved by convincing the participants or the individuals that no unethical practices regarding this particular activity would be allowed to maintain the comfort level of the participants helping in the survey. In this context example of TESCO can be given that the participants who are participating in the market survey have been assured that the information provided by them will not be disclosed to any third party along with their names and other information. In this regard any form of written assurance can be provided to the participants if needed (Lindon, 2009).
In order to provide a place in the market to a product ant organization needs to identify a particular market segment that will more likely to buy the product. The identification of a target group of customers will help in adapting new strategies that would help in gaining more profit in the future to the organization. The marketing strategies of TESCO are represented based on the target group customers who are not well aware of the functions of the retail industry. On the other hand the same thing can be said about the marketing practices of Starbucks coffee that also concentrated on the target group customers. Therefore, it is evident that identifying a particular targeted customer segment would surely help in rebuilding an organizations place in the competitive market (Dibb, 2010).
The definition of the marketing mix can be described in terms of putting the right thing in right place at an appropriate time. The concept of marketing mixed is mainly based on the 4ps namely, price, product, promotion and place and all the four activities are being exercised with the circle of target market. The marketing process consists of three elements segmentation, targeting and positioning. In case of Starbucks and TESCO the market segment is being conducted based on the geographic and demographic aspects along with the economic background? The market segmentation is being employed in order to grab a strong hold in the competitive market. The targeting also can be included in the marketing mix process in which targeting particular segment of the market can encompass all the essential elements of marketing mix and the marketing strategies can be designed in accordance with the marketing mix elements. Finally the positioning can be defined in terms of injecting a particular product within the targeted group of customers with the help of market segmentation and effective implementation of bandwagon theories in this regard (Goi, 2009).
In conducting and running a successful business it is important to maintain few rules and regulation within the legal framework for an organization. In this regard it is very important to mention that Starbucks coffee is fully committed to the laws and regulation of the country in which it is operating that has generated few laws regarding the marketing practices within the domain. Starbucks it very much flexible in relation to maintaining laws and regulation accelerated by the government. The legislative aspects in an organization are being employed in order to avoid unethical practices within the organization (Pattersonet al. 2010).
The implementation of marketing policies has appeared to be the most vital part to generate effectiveness in the marketing strategies of an organization. In this context the marketing policies of Starbucks can be depicted. The marketing policies includes,
Target market
The Starbucks outlets in the many corners are being visited by the business minded peoples are the main objective to target such group is generate the desire for Starbucks coffee rather than just to have it.
Market trends
The company has recognized that contemporary market trends that are able to attract more customers as it has emerged with an customer friendly organization while it is providing music books and Wi-Fi connectivity in all its outlets to the customers.
Marketing objectives
The main objective of Starbucks coffee is to present the brand globally.
Marketing strategies
The Starbucks coffee has implemented effective strategies with little more improvement in it.
Marketing budget
The company has made an investment a large amount of the total budget only in the improvement and adaptation of new marketing policies in recent years.
Marketing mix
The marketing mix includes the 4ps which are being actively exercised in promoting the brand image.
Along with these marketing policies the Starbucks coffee has employed other policies like competitors, strength review, detecting the weaknesses of the marketing strategies and the most importantly the reassessment of the techniques and process on a monthly basis (Haskova, 2015).
The products and services of the Starbucks coffee can be described in this regard. The Starbucks coffee is one of the leading coffee shop outlets in US. It is providing the quality coffee to its customers. The customers are getting attracted more day by day instead of its high price. But the Starbucks is not only providing its customers with coffee but also with such a place where customers are able to enjoy a quality time of their own. It has generated effective marketing strategies with producing customer friendly outlets with quality ambience, music, books and internet connectivity. These marketing strategies have placed the organization on the top of the coffee industry in US (Everything but the coffee: learning about America from Starbucks, 2010).
References
Dibb, S. (2001). New millennium, new segments: moving towards the segment of one?. Journal of Strategic Marketing, 9(3), pp.193-213.
Dorn, M., Messner, C. and Wänke, M. (2016). Partitioning the Choice Task Makes Starbucks Coffee Taste Better. JMB, 1(3-4), pp.363-384.
Everything but the coffee: learning about America from Starbucks. (2010). Choice Reviews Online, 47(08), pp.47-4511-47-4511.
Goi, C. (2009). A Review of Marketing Mix: 4Ps or More?. IJMS, 1(1).
Haskova, K. (2015). Starbucks Marketing Analysis. CRIS – Bulletin of the Centre for Research and Interdisciplinary Study, 2015(1).
Haskova, K. (2015). Starbucks Marketing Analysis. CRIS – Bulletin of the Centre for Research and Interdisciplinary Study, 2015(1).
Lindon, J. (2009). The skills of problem solving. Child Care, 6(8).
Miocevic, D. and Crnjak-Karanovic, B. (2012). The mediating role of key supplier relationship management practices on supply chain orientation—The organizational buying effectiveness link.Industrial Marketing Management, 41(1), pp.115-124.
Patterson, P., Scott, J. and Uncles, M. (2010). How the local competition defeated a global brand: The case of Starbucks. Australasian Marketing Journal (AMJ), 18(1), pp.41-47.
Sindhwani, P. and Ahuja, V. (2014). A Study of Online Co-Creation Strategies of Starbucks Using Netnography. International Journal of Online Marketing, 4(1), pp.39-51.
Turok, I. and Taylor, P. (2006). A skills framework for regeneration and planning. Planning Practice and Research, 21(4), pp.497-509.
Ungan, M. (2006). Standardization through process documentation. Business Process Mgmt Journal, 12(2), pp.135-148.
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