Marketing Concepts And Principles Of Success Of Subway Marketing Essay

Marketing Concepts And Principles Of Success Of metro Marketing Es introduceMarketing analysis consists of finding out the classify of potential nodes or consumers as well as the grocery you atomic number 18 targeting. we need to find out their potential needs how can we get around and modify the product or go to develop their needs. We should also drive in the preferable usage the customer might have for the product or service.We should also be aw atomic number 18 of the competitors operation throughout the market that is their determine policy so that we can be one mistreat forwards of our competitors. We should also be c beful about the statistical distribution of the product and services in order to found sure it sink ines the right target of the market both local and international. This report is written by studying tube-shaped structure a leading sandwich shop in Britain.SynopsisThe fable begins in Bridgeport, Connecticut, USA during the summer of 1965. Fred DeLu ca, an ambitious 17-year-old high school graduate, was looking for for a way to make enough money to pay for his university tuition. The outcome came at a BBQ during a conversation with a family friend, Dr. Peter dollar bill. Dr. Buck suggested to Fred that he open a submarine sandwich shop having seen a sandwich shop in his hometown experience huge success.With a $1,000 loanword from Dr. Buck, the partnership was formed and Petes top-notch Submarines subject in August 1965. The offshoot year was a ch onlyenge and a learning experience for the adolescent entrepreneurs.They opened their second location a year later and quickly realised that trade and visibility were pass to be key factors in the success of the argument the third outlet was in a highly visible location and its still serving sandwiches today. The name was shortened from Petes Super Submarines to SUBWAY and the familiar bright yellow logo was introduced.The next step was to formulate a business plan that ou tlined the SUBWAY irons goals. In an effort to reach those goals, SUBWAY outlets began franchising, giving others the opportunity to pull through in their own business venture. The jump SUBWAY franchise opened in Connecticut in 1974.Literature ReviewCompare alternate(a) interpretations of merchandising.(P1)Marketing is a social and managerial member by which individuals and groups adjudge what they need and want through creating and exchanging products and value with others.(kotler 2003).Marketing is the management process which identifies,anticipates and supplies customer requirements,efficiently and profitably.(Chartered Institute of Marketing).Marketing is the process of planning and executing the conception, pricing,promotion and distribution of ideas, replete(p)s and services to create exchange and satisfy international and organizational objects.(AMA 2004).As far as we can see in the above definitions that all of them is trying to say the same thing that it is a proces s. Some say it is a social process some say it is a planning process. I would define marketing as a way to reach the consumers as well as customers as AMA American Marketing 2004 has the definition that it is the perfect finishing of pricing promotion and distribution of ideas. I retard with that definition.Identify the main characteristics of marketing speckle organizations.(P2)All marketing blot organizations develop their business around the customer.They focus on the environment and make a key factor in their determination makingautonomic nervous systemthere are four main characteristics which explain the marketing oriented organizations. They are-1)Shared values.2)Organization.3)Strategy.4)Stakeholders.3)Strategy-E precise market oriented company should have a groovy dour term strategy. This is because the company will have a target of gaining its eventual(prenominal) goal that is to be a market leader that is why from the first they should have a strong strategy whi ch is understandable and flexible also.4)Stakeholders-Stakeholders are those who has a direct or indirect stake which can be affected by the organisations behaviour or activity.For an organization stakeholders are a very sensitive issue.They should be careful when they make any decisions because the decision must be taken in consideration with the view point of the stakeholders.If the stakeholders are unhappy thus this might affect the organization very badly.3Explain the various elements of marketing concept.(P3)Team work and unified approach to businessProfitabilityCustomer orientationIdentify and pass judgment the benefits and costs of marketing approach.P4autonomic nervous system the cost and benefits of marketing approach are- embody1Regular marketing research-Company needs to do regular market research in order to stay updated according to the market.2)Building excellent services-Company needs to give a good service both with the suppliers and the customers in order to buil d a goodwill for the company.3)distribution-Company needs to be very particular in hurt of the distribution costs.if the distribution cost is high it might affect them in the long run in terms of increasing the total cost.Benefits-1)Profit-A good marketing approach means that it is going to hit the right point which should be the profit.2)Customer allegiance and trust-Customer loyalty should be one of the key benefit. loyalty comes with the trust which is an significant factor. when a customer trusts a company the customer will recommend it to the others. that is howthe company will increase its benefit from the marketing approach.P5Identify and explain macro and micro environmental factors which influence marketing decisions.RELATE INFORMATION TO SUBWAYMacro environmental factors which influence marketing decisions are(P5/M2)Economic EnvironmentIt is best described as having the factors that affect consumer purchasing power and spending patterns (Kotler et al 1998). These factor s include income, directs of employment, inflation, value of the currency and much others.The income is a very valuable factor in terms of macro-environment as any customer because the customer should have the purchasing power to deprave the product. If they have the purchasing power they are most likely going to demoralise at subway. Value of the currency is an important factor. If the value fluctuates then we cannot value the correct value of sub according to the market.Political affableTechnologyMicro environmental factors which influence marketing decisions are-1)Customers-Organisations survive by satisfying the needs, wants and providing the benefits of the customers. For e.g-Subway gives special offers to the customers like the sub of the day.2)Employees-Employing the correct staff and retentivity this staff motivated is a very important part in terms of strategic planning process of the organization. Training and development is an important factor in subway in terms of getting a competitive edge than any other fast food joint.3)Suppliers- retentivity a good relationship with the supplier is a very important factor. Prices of raw materials might increase. A good relationship ensures that they get the products of good quality at a competitive price.P6Propose sectionalisation criteria to be used for two products in different markets.Ans Market segmentation is the fundamental component of a market-based strategy. A market segment is a specific group of customers with distinctive customer needs, purchase behaviours and different descriptive characteristics.(Best 2000).We can talk about the halal stores in subway and the ecumenical store of subway. They are two products in different markets. One is aimed generally. other one is specially aimed at the muslim customers who wants to eat at subway.P7 compend the factors which influence the choice of targeting strategy.Ans targeting strategy is the selection of potential customers to whom the business w ants to target them to sell products or service.Factors influencing the choice of targeting strategy are-1)Markets diversity- Market goes on to take different routes like the case of subway which is diversifying their sandwich products.2)The level of competition-Subway has to ensure their goal beside the level of competition that they are facing. This is why they are targeting health conscious customers by introducing low fat subs like grumbler teriyaki. They also use the slogan called Eat Fresh to target the great unwashed who want to eat out but wants to avoid junk food.8)Explain how emptor behavior affects marketing activities in two different buying situations.Ans Buyer behavior affects marketing activities in many situations. One may be the way the customers lifestyle is. For e.g.-if the customer is an marketing officer he is more likely to buy formal clothes than a pipe fitter who needs informal clothes like jeans because it will be more suitable for him to work with a pai r of jeans.Another situation might be a psychological factors. For e.g-customers of mark and spencer might belief that ms products are very much better than the others. This might influence them to buy that product.