Diverse Activities Carried Out in the Marketing Departments of Business
Proper understanding of diverse activities of marketing departments of business needs to know to ensure better management of marketing activities. The marketing concept is the philosophy of dealing with customers’ needs and makes the decision of choosing the best way to satisfy them with produced goods and services and taking care of the delivery system. It is a method by which a firm or company can identify the customer’s need for interchanging and creating value for both of the parties. Marketing is the process of creating and offering value to customers for achieving organizational goals. It is a combination of different kinds of activities to create value for ensuring customer satisfaction. Marketing is an ongoing development process of introducing new products and services to serve the existing and potential customers as per their requirements.
Hayles Fruit Farm is a family run business started their marketing from 2015 in the UK. The main purpose of the business is to produce the best quality fruits and juice and meet up consumers’ needs for a fresh feeling. Now the company is well known in the UK so they are very concern about their marketing sector. They tried to segment their market on the basis of marketing research and demand for their products. In this report, all the methods of marketing and e-marketing methods are discussed for the wellbeing of the company (Farm, 2016).
Hayles Fruit farm follow some specific market activities to ensure the expansion of their market and increase their consumers base all over the UK. The activities are described as follows:
- Marketing Research: Marketing research is a process by which an organization collects the information about consumers need, want and demand for product and service. Hayles fruit farm provides a large sum of investment to know the demand of the customers(Marketing91.com, 2016).
- Customer profiling: Customers’ proofing is a way of searching for customers’ needs and wants and giving them the best offer to gain their satisfaction. By profiling customers, Hayles retain the customers for reducing costs and tries to increase their profitability.
- Segmentation: Market segmentation means diving the whole market in different parts on the basis of environment, behavior, characteristics, geography, purchase capability, age city, etc. Hayles does its market segmentation as per the consumption behavior of the customers and income.
- Market Targeting: Target market means fixing an appropriate market to get the best outcome from them. It is an approach of focusing on the potential market for the expansion of their products and offerings(Marketing91.com, 2016).
Explaining Market Segmentation as a Tool to Identify Customers
Market segmentation refers to the division of the market according to customers’ needs, wants, and demands. By market segmentation, it is easy to identify the existing and potential customers of any particular organization. It is easy to know about their needs and demands and modify the offerings as per customers’ requirement so it is said that segmentation is a widely used tool to identify customers and differentiate them from the whole market. The market can be segmented on the basis of the following characteristics and customers’ demands and needs (Maidenheadfarmersmarket.org.uk, 2016). These are:
- Geographic segmentation: the demand of the consumers can be segmented by region, area size, population density, climate, etc. Hayles segment their market on the basis of population and area size.
- Demographic Segmentation: The demographic market segmentation depends on factors like age, gender, family size, family lifestyle, generation, income, education, and occupation of the people in any country. Hayles segment the market according to age, family size and income.
- Psychographic segmentation: Psychographic segmentation depends on the customers’ interests, attitudes, behaviors, and values.
- Behavioral segmentation: The market can be segmented on customer’s benefits, usage rate, brand loyalty, occasion, purchase behavior, etc. Hayles increases the production and marketing of more fruits on any special occasion.
Explaining the Marketing Mix and Its Applications
The marketing mix is the strategy of arrangement of precise products, a particular place, at a specific time and at an affordable price (Coughlan, 2001). The marketing mix is the combination 7ps extended from 4ps and they are:
- Product: Product is the offering to provide the customers’ satisfaction. Hayles fruit farm produces healthy, fresh and nutritious fruits and juices for the customers. So, in this case, it can be considered how their customers will get the product, how will they use it, where can clients use it and what will be the suitable name of the product(The Marketing Mix, 2016).
- Price: Price is the monetary value that is paid by the customers for any specific product. Hayles uses some strategy to set up the price, estimate market penetration, demand price, skimming price, and neutral price. They also provide some fixed prices for specific fixed products (Coughlan, 2001).
- Place: Place is another important consideration for the distribution of goods and services. It is a specific area where customers can get the products. Hayles ensure place flexibility for smooth distribution and customer’s access.
- Promotion: Promotion is a method for increasing sales and ensures product recognition. Hayles fruit farm uses the bonus, coupon, and increases in the percentage of products and also do sales promotion for increasing sales.
Besides these, process, people, and physical evidence are considered to market the product of the Hayles Fruit Farm.
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