Understand the principles and practice of marketing. Assessment Criteria An appropriate research question is clearly identified. A detailed participant section which has a clearly defined sample frame and appropriate sample size is identified and justified.
Citizens, government and locality of new country Other marketing or advertising agencies Starbucks always believe in maintaining long term relationship with all the stakeholders and believe in mutual growth.
Suppliers Starbucks get its best quality coffee beans from the farmers and they are the major supplier of Starbucks MacDonald, Starbucks has always maintained strong relationship with the farmers.
Buyers Starbucks has strong brand name which has helped in having strong customer base and customer loyalty. Potential New Entrants Entering into luxury coffee market requires lots of money and resources and hence threat from new entrants is very less for Starbucks.
Substitute products Substitute products for Starbucks are low-cost coffee makers, restaurants and hotels. Cost will be incurred on new infrastructure in new country.
Advertising and promotional activities also require money. Cost will also be incurred on market research activities and to acquire new partners in the country. Hiring and recruitment will also require money and time.
Raw material cost will also be included in the cost for Starbucks Benefits Increased profit, revenue and market share.
Increased brand name and customer loyalty will lead to increase in number of customers. Starbucks will be able to make strong relationship with the government and locality of new country. Justify your reason for the proposed segmentation criteria.
For the chosen strategy discuss how the buyer behaviour affects marketing activities in different buying situations. Discuss the buyer behaviour in relation to the segmentation criteria you have identified. SWOT analysis helped us in knowing that Starbucks has huge brand name and it has lots of products to be sold to the new market.
Starbucks has to sell all the products from its portfolio in the new country and every product can be sold to different target market based on the quality and special attributes of the products Thompson, Brand name will help in increasing the awareness through word of mouth.
The two different segments will be people above 25 years of age and people below 25 years of age. Both the products can be targeted to people between years of age as there is no demarcation between the two segments.
This product will be positioned as healthy and energetic drink. All the customers have different choices and preferences from each other. Marketing and promotion activities depend a lot on the buying behaviour of customers.
Starbucks has to hire a market research agency and should do a complete research to the preferences and choices of the customers.
Market research should also focus on knowing the average disposable income of the potential customers where we are thinking of implementing our store. We have seen the promotional offers and discounts always attract customers. So in the first month Starbucks has to give discounts or combo offers to increase the awareness.
It should also implement these promotional strategies during weekend and special occasions like festivals, public holidays etc. Social media is also very helpful in knowing the behaviour of the customers. Youth can give their feedback in these sites and even Starbucks can get its questionnaire of market research filled from the users if these social networking sites.
Users of these sites are majorly youth which are potential target customers of Starbucks.
Suggest a range of positioning options for your selected product.BA /HND/HNC ASSIGNMENT TEMPLATE. ASSIGNMENT BRIEF- BE (UNIT 4) Course Title EDEXCEL BTEC LEVEL 4 HIGHER NATIONALS IN BUSINESS Unit Name & Number: Unit Code Learning outcomes MARKETING (UNIT UNIT1) M 1: Investigate the concept and E-mail process of marketing 2: Explore the concepts of segmentation, targeting and positioning 3: Identify and analyse the individual .
The unit looks at definitions of marketing and what is meant by marketing orientation and marketing process. distribution options and the promotion mix.3 This unit aims to provide learners with understanding and skills to the fundamental concepts and principles that underpin the marketing process.
Edexcel BTEC HNC and HND learners is to the second or third year of a degree or honours degree programme. On successful completion of these qualifications, learners. HND Business: Marketing Principles Unit 4. Below is a table showing you how parts of Learnmarketing may help you achieve the Pass criteria for the BTEC HND in Business Marketing Principles Unit 4.
HND Marketing candidate information. The HND Marketing is designed to equip you for a wide range of marketing careers. It will enable you to develop the skills to enter junior /trainee roles in private and public organisations, where there are job opportunities in both in-house departments and specialist marketing, market research, selling and promotion agencies.
Key Benefits. Gain a high knowledge of business studies in a practical way. Gain a nationally recognised qualification. Progress from the HNC to HND or final year of a University Bachelor degree in Management, Marketing or Accounting and Finance.