This unit states that you are working in small family owned business and they have no idea about development of the market share thus concept of marketing had to be analysed in order to produce information
- Explain the concept of marketing used by Hay Hampers
- Conduct market research to find out customer demand and activities operating at market place.
- Give brief about E Marketing and methods used by firm to E Market their goods & services.
Marketing can be considered as the soul of business as it brings together success and growth of organization in market. It has been used by the organization in order to create, keep and satisfy requirement of customers in market. Present report is based on the small family that runs business named Hay Hampers which is operating since 1984 as a restaurant in UK. They are specialised in making “Cheese Hampers”. Report will provide a clear understanding about the concept of marketing, principles and important techniques that need to be used by organisation for increasing its online presence in market.
Marketing and diverse activities carried out in marketing department
Marketing is a detailed management process that includes set of activities, to be performed in order to create, communicate, guide and maintain the organization grow and the customer satisfied . It's an important area of every organisation as it a link between the customers and the company, it performs vital functions to keep coordination between various departments of the organisation (McClements, 2015). Every company has set of creative officials to carry out these activities of the marketing department, which are to expand and developed companies business, promote companies product \ services, build strong brand image, effective pricing of product\services, proper handling your customers and keeping them satisfied, planning strategies to expand products\services line, including new ventures, create good public relations, gathering and analysing the market information of on going market trends, competitors strategies, there reaction towards company policies and plans, develop and create new ideas and plans and lastly to execute them.
Meaning of segmentation and its role in identifying customers
Market segmentation in general meaning refers to the division of a whole market into small market with people having same interest, likes, dislikes, choices and preferences income groups, irrespective of there age, gender, caste and religions, but some segmentations are done on the basis of gender, age, demographic locations, etc (Batini and Scannapieco, 2016). This is done to gather information about the targeted customers and to serve them according to there needs. Generally customers are widespread on a demographic location, These segmentation plays an important role to evaluates the customer and allow company to make product or provide its services according to it. The questions like how to produce, for whom to produce, when to produce and in what quantity to be produced so that it may not create burden on a company are few questions been address by proper customer segmentations, if the company does not able to produce according to it then this may create an unfavourable brand image of the company.
Types of Market Segmentation:
Demographic: In this process of Segmentation marketing manager differentiate target groups on the basis of demographic characteristics i.e. Age, Gender, Income Group and Family Size.
Geographic: Targeted consumers within this form of segmentation is divided on the basis of geographic criteria