Marketing Case – the Development of the Organization’s Marketing Strategy and Tactics
The term marketing means different things to different people. Many think of marketing as simply “selling or advertising.” Yes, selling and advertising are part of marketing, but it is much more. In the past marketing focused almost entirely on helping the seller sell. That is why many people still think of it as mostly selling, advertising, and distribution from the seller to the buyer.
The marketing process can be divided into four factors called the four Ps which are: product, price, place, and promotion. The four Ps are a convenient way to remember the basics of marketing, but they do not necessarily include everything that goes into the marketing process for all products. Managing the controllable parts of the marketing process means (1) designing a want satisfying product, (2) setting a price for the product, (3) putting the product in a place where people will buy it, and (4) promoting the product (Chandler 2008).
The development of the organization’s marketing strategy and tactics
Imagine, for example, that you and your friends want to start a money making business near your college. You have noticed a lot of vegetarians among your acquaintances. You do a quick survey in a few dorms, sororities, and fraternities and find many vegetarians as well as other students who like to eat vegetarian meals once in a while. Your preliminary research indicates some demand for a vegetarian restaurant nearby. You check the fast-food stores in the area and find none offer more than one or two vegetarian meals. In fact, most do not have any, except salad and some soups.
Further research identifies a number of different kinds of vegetarians. Lacto-ovo vegetarians eat dairy products and eggs. Lacto-vegetarians eat dairy products but no eggs. Fruitarians eat mostly raw fruits, grains, and nuts. Vegans eat neither eggs nor dairy products. Your research identifies vegan farmers who do not use any synthetic chemical fertilizers, pesticides, herbicides, or genetically modified ingredients. You also find that KFC Canada offers a vegan version of its chicken sandwich in five hundred of its seven hundred outlets. Is the Colonel on to something? He may be, since there are successful vegetarian restaurants even in Argentina, where the consumption of beef is the highest in the world. You conclude that a vegetarian restaurant would have appeal to all kinds of vegetarian to be a success.
You have just performed the first few steps in the marketing process. You noticed an opportunity (a need for vegetarian food near your campus). You conducted some preliminary research to see whether your idea had any merit and then you identified groups of people who might be interested in your product. This is your target market (the people you will try to persuade to come to your restaurant) (Chandler 2008).
Describe how each element is implemented
Once you have