Marketing Concepts for a Small Business: Gym

8233 words (33 pages) Dissertation

10th Dec 2019 Dissertation Reference this

Tags: MarketingSportsFitness

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Contents

Executive summary:

Introduction:

Task-1

Marketing Objectives:

Marketing mix:

Compare advantages and disadvantages of marketing media:

Marketing mix:

External factors effecting consumer behavior:

Assess the competitive advantages and disadvantages of marketing analysis:

Task 2

Conclusion

Recommendations

Bibliography

 Executive summary:

This report comprises the application of marketing concepts, marketing strategy and marketing plan as well to Pumping Iron Gym. In this report all the marketing concepts have been applied to my business called Pumping Iron Gym. The purpose, mission, vision and values of my Gym business are also given. In my GYM business, marketing is very important because it is the way through which the detailed information about my  services and health products. This report includes marketing plan which gives any business the marketing strategies, mission statement, competitive analysis, promotional plan, marketing budget, action list and metrics etcetera. We are locally owned and operated, so you get a more personalised service.We offer a variety of programs and services to ensure you are motivated to getting started and staying active.We have a large range of equipment, from free weights, machines, cables, boxing bags/machine, dynamic balls and equipment & cardio machines.We have qualified Personal Trainers that can provide fitness evaluations, personalised programs for fitness and nutritional guidance (arron, 2016).

 Introduction:

The theory behind Pumping Iron Gym, depends on a conventional old fashioned rec center not at all like the cutting edge ‘wellness revolves’ which have increased around us as of late. At Pumping Iron Gym we don’t regard you as a number on the accounting report, we do work on a more individual agreeable level. At Pumping Iron Gym we jump at the chance to become more acquainted with you, bolster you and sustain you towards your objective. The unimportant reality that you’re perusing this correct now demonstrates a certain something, you have the determination to start that voyage. At Pumping Iron Gym you’ll turn out to be a piece of a group who live and share comparative objectives and yearnings. Regardless of whether it’s working towards a more advantageous way of life, increase to turning into a bad-to-the-bone weight preparing competitor or some place in the middle. We are here to help you for the whole deal, to rouse you when you fall and to praise your triumphs. Truth be told we are 100% centered around ensuring you get your best exercise understanding. We likewise perceive that preparation is just a single piece of the condition which is the reason we can bolster you with qualified and street tried exhortation on sustenance and supplements (J, 2017).

Task-1

 Marketing Objectives:

Sell products and/or services- Gym is very helpful for everyone. The Centers for Disease Control and Prevention recommends that everyone get at least 30 minutes of moderate exercise five days a week. Going to the gym every day is one way to accomplish this goal. Regular exercise carries many physical and mental health benefits. We provide good services in gym, therefore it can be said that Pumping Iron Gym preferred by most of the people.

We provide- Free entry for everyone, Good quality products and exercises machines in reasonable prices.

Generate new customers: We provide good services and most of our present customer give mouth referral and with the help of that we have many new customers.

Develop and maintain customer loyalty: We are transparent with our customers and that maintain our loyalty.

Maintain image: Pumping Iron Gym has a good reputation all over the Papatoetoe, Manukau and Manurewa Area as Good Gym. Because we provide good services and products as resalable price. it is hard to maintain image within the market because of the competitors. So we give proper guide to our customers regarding their health.

Provide information: Reviews and revisions of good marketing plan is a part of a process that involves setting goals, measuring results and tracking performance. For example, tracking performance will keep in track that what are the mistakes, so we set our goal and start work.

* Key marketing concepts in terms of implication to business operation are:

Needs: There is number of customer needs, a few from them are service, price, respect, quality, action and appreciation. Every customer wants a best quality service and better advice and wants to be treated in formal way.

Demand: Demand refers to how much of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price.

Market :  An actual or nominal place where forces of demand and supply operate, where buyers and sellers interact directly or through intermediates to trade goods, services, contracts for money (rodney, 2017).

 Marketing mix:

Product, Price, Place and Promotion

Product: Product is the critical part of marketing mix on which everything depends. One should give the customer what can bring satisfaction and contentment in customer’s heart. As user friendly always has the edge. That is why Gym company should always use the environmental friendly products in Gym. Because satisfaction brings in ten or more customers and dissatisfaction takes away 20 or more customers. Competitiveness thought to be in your amenities so that it can stand in market and can offer good availability of facilities.

Price: The sole objective of any firm is to make profits, so setting the right price is vital. Costs involve the manufacturing products, promotional expenses and distribution costs as well. Pricing of Gym products and services should be done in regarding the quality of Gym. Because quality attract the customers.

Place: Place includes targeting market audience convenience. It is very important to know your audience which is prone to Gym. On the other hand, online stores save energy, time and money as well. So, Gym Health products/ supplements should be presented in a way that can force purchasers to buy health supplements for  their  health. A product reaches customers through a channel of distribution such as television, radio, magazines, newspapers, brochures and internet.

Promotion: Promotion is the distribution channel of awareness about the product.  It can be done indirectly through advertisements on television, internet, etc. or even directly through mails, phone calls, etc. No product is perfect and has some pros and cons. Promotion is crucial for gym company because it will create an urge to have the service.

Public relations: Public relations are the practice of managing the flow of information between an individual or an organisation and the public. The public relations are very important for any business and when we are talking health so, it is very necessary to maintain because these bring in many customers. It is all about building relationships to advance, promote, and benefit the reputation of you yourself, your department and company. It aids in marketing the department for recruitment purposes and can lead to improved quality of student applicants. It can lead to strong community and industrial partnerships, and even financial support. There are a set of tools for public relations and publicity, just as there is for advertising. These include: feature stories and interviews, exclusives, opinion pieces, photos, Speeches or appearances at seminars, conventions, etc., local, regional or national talk shows and other programs, online chats and forums, community involvement and social responsibility activities.

Service: When it comes to a service it becomes more challenging because one is selling invisible so, have to be more careful. The people involved in selling and performing the service have the ability to make or break a company’s reputation. Relationships are key factor when it comes to the marketing of services. Given today’s highly competitive scenario where multiple providers are vying for a limited pool of customers, retaining customers is even more important than attracting new ones. Retaining shoppers is possible with service.

Advertising:Advertising is mass media content intended to persuade audiences of readers, viewers or listeners to take action on products, services and ideas. The idea is to drive consumer behaviour in a particular way in regard to a product, service or concept. For instance: newspapers, magazines, radio and television broadcasts, films, stage shows, websites, posters, town criers, flyers, rack cards, cars, taxicabs, buses, trains, subway platforms, bus stop benches, street furniture and airplanes. Advertising helps increasing sales of health products

 Compare advantages and disadvantages of marketing media:

Marketing media for advertising

1. Radio

2. Television

3. Print media advertising

4. Print media editorials

5. Brochures

6. Telemarketing

7. Public relations

Radio advertising:

Advantages of radio advertising

1. Radio advertising is affordable as compared to other marketing Medias.

2. Radio advertising is the mass media to which people use while driving, cleaning and mowing the lawn etcetera as radio is a portable device.

3. Radio advertisements target a large number of audiences.

Disadvantages of radio advertising

1. Radio advertisements are ephemeral: once you hear them and then they are gone.

2. Radio advertisements become the source of distraction while driving, cleaning etcetera.

3. Sometimes radio advertisements come one after another which forces observer to change the tune.

Television advertising:

Merits of television advertising

1. Television advertisements aids in conveying the message or advertisements with sound, visuals and actions.

2. Television advertisements can target a large number of people.

3. These advertisements provide complete flexibility and selectivity options to the customers so that they can choose desired product.

4. Television advertisements are extremely beneficial for small.

Demerits of television advertisements

1. The cost of television advertisements is very high.

2. The television advertisements cannot express much about the product due to time shortage.

It involves complicated procedure.

3. Television advertisements made students distracted from studies.

Print media advertisements:

Benefits of print media advertisements

1. In print media, newspapers and magazines are eye catching in the society.

2. One can choose the size of the advertisement space.

3. They have been around for years and people view them as credit source of information.

4. Tangible (touchable) things keeps people busy with their readings.

Problems to print media advertisements

1. Advertisements may get lost in the bunch of competitor advertisements

2. You may have to plan in months advance to advertise in print media.

3. It becomes outdated and of no use such as newspapers etcetera.

4. In print media, one has lot of options like brochures, leaflets, newspapers, magazines.

Print media editorials

Positives to media editorials:

1. Aligning your messaging with high level business goals and milestones.

2. Media editorial advertisements give stakeholders time to plan their messages.

3. Media editorials play an important role in company’s archive.

4. These kinds of advertisements become the source of quality information for further planning.

Negatives to media editorials:

1. It is hard to be relevant when social conversations change so rapidly.

2. The print media editorials are among the public eye for a day.

3. You may have to plan months in advance to print editorials.

Brochures:

Profits to brochures

1. Brochures are flexible when they come to design.

2. Brochures save time, you do not have to customize brochures or address them to specifically a customer.

3. Brochures help you to increase your business.

4. An ease of speed and change is wonderful and it benefits consumers who uses brochures.

Losses to brochures

1. Usage of brochures is not environment friendly.

2. There is a limited space in brochures.

3. An advertisements cost are very high as compared to other marketing media.

Telemarketing:

Ups of telemarketing

1. Telemarketing advertisements are of low cost.

2. Telemarketing advertisements offer a way to follow up with your existing customers.

3. Telemarketing advertisements are time saving.

Downs of telemarketing advertisements

1. Telemarketing has a negative image and negative image can tarnish your business.

2. Telemarketing has become a nuisance to many customers and has some legal ramifications that must be followed.

3. Some customers find the unwanted calls which are annoying.

Public relations:

Increases to public relations

1. Public relation has an appealing power to a large number of people.

2. The public relation advertisements are inexpensive in case of cost.

3. The story regarding a new product is treated as a news item which is likely to get attention.

4. It helps to build positive image of an organization.

Decreases to public relations

1. It is hard to predict about the responses

2. Sending of too much press releases, creates the possibility that they can be picked up by newspapers or magazines.

* Three New products and target audience:

Yoga Class                                             Old age people

Supplement Shop                                  Youngsters

Sunbeds And Sun capsules-               Old age people

 Marketing mix:

 

Product

Price

Place

Promotion

Product: Product is the critical part of marketing mix on which everything depends. One should give the customer what can bring satisfaction and contentment in customer’s heart. As user friendly always has the edge. That is why Gym company should always use the environmental friendly products in Gym. Because satisfaction brings in ten or more customers and dissatisfaction takes away 20 or more customers. Competitiveness thought to be in your amenities so that it can stand in market and can offer good availability of facilities.

Price: The sole objective of any firm is to make profits, so setting the right price is vital. Costs involve the manufacturing products, promotional expenses and distribution costs as well. Pricing of Gym products and services should be done in regarding the quality of Gym. Because quality attract the customers.

Place: Place includes targeting market audience convenience. It is very important to know your audience which is prone to Gym. On the other hand, online stores save energy, time and money as well. So, Gym Health products/ supplements should be presented in a way that can force purchasers to buy health supplements for  their  health. A product reaches customers through a channel of distribution such as television, radio, magazines, newspapers, brochures and internet.

Promotion: Promotion is the distribution channel of awareness about the product.  It can be done indirectly through advertisements on television, internet, etc. or even directly through mails, phone calls, etc. No product is perfect and has some pros and cons. Promotion is crucial for gym company because it will create an urge to have the service.

* Determine different characteristics of small scale business:

Not every small business finally grows to the size of large company. Some businesses are ideally suited to operate on a small scale for years, often serving a local public and producing just enough earnings to take care of company holders. Small-scale companies display a different set of classifying characteristics that set them apart from their superior competitors or rivals.

There are some characteristics of small scale corporation:

Revenue, Profitability, Employees, Market area, Ownership, Taxes and Locations.

Revenue: It is very obvious that small business’s revenue is lower than larger business’s. Lower revenue does not necessarily translate into lower profitability. Established small-scale businesses often own their facilities and equipment outright, which, in addition to other factors, helps to keep costs lower than more furnish( resource, provide, render, supply) businesses.

Profitability: The soul objective of any organisation is to make profits. For a small business like gym company in the beginning one has to do expenditure from his own pocket. It is measured by price to earnings ratio. I put in each and every effort to make stuffs work in a positive way in my company, so that it can be able to compete with each other. Also my staff is very supporting to make things work. It is necessary to access the price of the goods or services being offered. There are several things that need to be considered when prices are established and these are fuel, labour, inventory fixed costs, mortgage, gear, repair and taxes etcetera.

Employees: Little scale organizations utilize littler groups of representatives than organizations that work on bigger scales. The littlest organizations are run altogether by single people or little groups. A bigger little scale business can frequently escape with utilizing less than one hundred workers, contingent upon the business sort.

Market area: Small-scale organizations serve a substantially littler territory than partnerships or bigger private organizations. The very meaning of little scale keeps these organizations from serving zones considerably bigger than a neighborhood, developing past that would expand the size of an independent company’s operations and push it into another grouping.

Ownership: The corporate type of business association isn’t appropriate to little scale operations. Rather, little scale organizations want to sort out as sole proprietorships, associations or constrained obligation organizations. These types of association give the best level of administrative control for organization proprietors, while limiting the bother and cost of business enlistment.

Taxes: These organizations for the most part don’t record their own charges; rather, organization proprietors report business salary and costs on their own government forms. Paid assessments add to the economy of the country. Thusly these assessments are utilized to offer offices to the group.

Locations: A little scale business, by definition, can be discovered just in a restricted region. These organizations are not liable to have deals outlets in different states or nations, for instance. A substantial number of little scale organizations work from a solitary office, retail location or administration outlet.

*Sources of market information about products are:

Radio, Television, Newspaper, Internet, Brochures and Magazines

Radio: Radio is the one of the cheapest sources of information. Radio includes all kind of information whether it is about business, change in the laws of immigration, about sales in shopping malls, about study etcetera. There are some unique characteristics of radio which makes it one of the best distribution channels. It is Portable, Affordable, Easy access and Adds to knowledge.

Television: Television includes advertisements with audio, visuals and actions. Television is also a way to use in your leisure time period. Television has its own features which are Easy to understand, Keeps you updated and Keeps you aware about current affairs

Newspaper: Newspaper includes brief description of the news. It is a great source of employment as well. It adds to our about business, share market , politics, sports personalities, shopping malls, current affairs including any incidents around, about etcetera. Newspaper has an entertainment section as well which includes puzzles, brain teasers, word searches, mathematical games, royal puzzles, kids games, some funny recipes and Sudoku etcetera.

Internet: In short an internet is treasure of knowledge. It has bunch of features which are Can connect people within a minute, Can transfer files to anywhere in the world, Can watch television, Can do shopping, Can play online games, Can call anywhere in the world with in no time, Can get information about any person, It has the fastest mailing service.

Brochures: Brochures is the another way to advertise their business. As far as I am concerned brochures are other way of advertisement, Brochures are flexible, One can choose type of printing, paper and as well, One can choose what it is said and how.

Magazines: Magazines are considered one of the best advertising options. A magazine has following features which include Cross-word puzzle, Word puzzles, Famous birth and deaths, Arrests, Some Glossy advertising

Questionnaire and interviews are considered good way of market information. These sources of information contain real facts, issues, feedback and recommendations. Personal observations were made by group members on the site and they ask some question from the general audience and also give them time to answer their question. When it comes to interviews, these are also good source of market information. Interviews involve process of asking specific questions from general viewers.

* Identification of the competitors who supply same product from different firms:

In simple terms, your competitors can be identified as those companies that offer similar products or services to the same customers at similar prices. These can be either direct or indirect.Some competitors may be focused purely on profits while others may be focused on customer service. Understanding the relative importance the competitor places on profitability, growth, market share, technology etcetera can assist you in understanding how your competitors may react in different competitive situations.

My competitors for Gym and customer services are followings:

Pumping Iron Gym and Go Gym are the best Gym provider of Auckland Region. These two are the competition for the best gym provider. These competitors have the same strategies that I apply to my business. So, I should find out the way to compete with these kinds of customers.

Here are some ways to tackle your competitors by their own way:

-Miseducation creates false competitors

-Do not try to win over features

-Price wars are a race to bottom

-Speed wins

-Focus on the normal

-Cash matters when scaling

-You are your biggest competitor

-Bring traffic to table

-Bring money to table

External factors effecting consumer behavior:

Social factor: In social factor, family and your financial status plays an important role on the consumer behaviour. For instance: The common man would like to prefer that gym  which is having reasonable rates in the market and can give him good quality service and products.

Cultural factor: Remember culture is a learned way of life. Attitudes and beliefs associated with culture tend to change slowly, but they may change over time. A culture shift can change your choice of product, your perception. Cultural differences that exist across countries, marketers are also increasingly recognising the importance of cultural differences within a society.

Economic factor: The totality of economic factors, such as employment, income, inflation, productivity, and wealth that influence the buying behaviour of consumers and institutions as well. The rising price of gym products is the number one consideration that influences consumer’s choice of gym products, gym company, number of workers used etcetera.

Technological factor: Changes in technology affect how a company will do its business. A business may have to dramatically change their operating strategy as a result of changes in the technological operations and actions. Technology enhances customer satisfaction. For instance: Technology has its own advantages to take it into action and is: Firstly technology has improved the way of to do exercise in gym, New types of gym machines.Also, technology has its certain disadvantages as these machines consume more electricity which rise electricity bills and Need to train the staff so that they can use the equipment properly.

Demographic factor: Personal statistics that include such information as

Income level: Pricing matters a lot because one will buy those things to which he can afford.

Occupation: Occupation is vital thing in demography because occupation is the way of earning and one will expense on things if he will be with bucks.

Gender: Difference of gender means having different point of view, different likes and dislikes, changed sense of humour, different perceptions, different attires and different physical structure etcetera which makes them rare in case of grocery store as well.

Location: Location includes where most of retailers are and what do they sell? Are they near their target market (audience).

Family size: Family size matters a lot in shopping. More the number of shoppers, more will money will be spent on shopping. But the one who pays take care of money as well.

Competitive factor: The competitive environment of a business is the part of a company’s external environment that consists of other firms trying to win customers in the same market. Competition has its merits and demerits both. Competition helps the firms to win over more and more customers. For instance: Competitive factors are the building blocks of competition and are followings:

Increased Sales

Deserving service to customers

More and more techniques involved in business

Involvement of new strategies into business

 Assess the competitive advantages and disadvantages of marketing analysis:

Marketing analysis: A showcasing examination reviews the commercial center and gives you a thought of where you can fit into it. This can enable your private company to make key moves. While this has clear favorable circumstances as far as helping you distinguish potential clients and devise approaches to contact them, an advertising examination has drawbacks, as well.Advantages of marketing analysis:

Production: A superior ability to turn out a project is critical differential advantage that many companies have capitalized upon. The advantage may also be in a firm’s ability to maintain superior production quality over competitors.

Technology: Initial innovative research and development as well as properly managed scientific application can establish and preserve strong differential advantages over competitors.

Natural resources: Quite often valuable or scarce resources are appropriate assets on which to base a strategy. Tremendous advantage can be given to organizations, cartels and nations that control natural resources or that are located in favorable proximity to them.

Marketing: Market advantage usually refers to the advantage one has over another because they are more positively positioned in the minds of customers. Those having greater awareness, higher preference, or stronger loyalty have distinct marketing differential advantage over their competitors.

Management: Management advantage comes in the form of positive personal relations, effective planning system, information system and overall managerial competence.

Recover from loss:

The primary preferred standpoint of a market examination is that it causes a firm to spare itself from potential misfortune. In the event that a firm indiscriminately brings an item into the market without knowing who may get it or why, at that point the item isn’t probably going to discover achievement. A market examination uncovers to the firm what it must change to address the market’s issues all the more beneficially.

Disadvantages of marketing analysis:

Misidentifying market needs

Evaluating market growth with market share

Market segmentation verses target markets

Improper interpretation of data

 

* Changes in business process that can enhance marketing operation:

Here are some improvements which can enhance marketing of the business.

Keep Score: It’s amazing how few small businesses have any idea of the daily, weekly, and monthly numbers and financial trends in the organisation. Spend the necessary time keeping current on cash flow and if you lack the financial skills then hire an accountant.

Set Goals: Like keeping score, setting goals and objectives is an essential part of business success.

Master Business Presentations: A powerful business presentation can help improve your small business by leaps and bounds.

Use High Impact Marketing: It’s easy to waste money on ineffective marketing. Learn how to use low budget high impact marketing to improve your small business. The essentials of a knockout business presentation can reap many rewards.

Sharpen Selling Skills: A high return area for business improvement is the sales function. Whether you’re selling to big companies or managing a sales team, never forget to focus on sales improvement.

Find Best Practices: Every industry has its own best practices or ways of doing things that are tried and true. Avoid wasting money and time reinventing the industry is generally a good approach unless you’re set on building the next Goggle.

Motivate Staff: Talented and motivated staff members can bring on big improvements in business. Learn what motivates your employees to higher levels of performance.

Know Your Limits: Every successful business owner, even Bill Gates, has a clear idea of their limitations. By knowing your entrepreneurial personality type, you can manage your resources and find help in areas of weakness.

* Analyze the need of business operation’s customers:

Perceived needs for customers regarding gym services: Knowing and understanding customer needs is at the centre of every successful business, whether it sells directly to individuals or other businesses. Once you have this knowledge, you can use it to persuade potential and existing customers that buying from you is in their best interests.

Each and Every business needs a reason for their customers to buy from them and not from their competitors. Each business has their unique sale of proposition. Your USP can change as your business or your market changes, and you can have different USPs for different types of customer. It’s also well worth keeping an eye on future development in your customers’ markets and lives. Knowing the trends that are going to influence your customers helps you to anticipate what they are going to need – and offer it to them as soon as they need it. Ten things you need to know are followings:

Control: Control represents the customers’ need to feel they have an impact on the way things turn out. Our ability to meet this need for them comes from our own willingness to say “yes” much more than we say “no.” Customers don’t care about policies and rules; they want to deal with us in all our reasonableness. For example: In my company my employees know how they can change their customer’s mind about different types of Gym services.

Options and alternatives: Customers need to feel that different roads are accessible to getting what they need fulfilled. They understand that they might graph virgin region, and they rely upon us to be “up to date” and furnish them with “within scoop.” They get truly annoyed when they believe they have curved their wheels completing something, and we knew up and down a superior way, however never made the recommendation, for example, we offer better options in such a situation where there is our strategy, a worker has at its blame so we give them full pay to that.

* Process of conducting a survey of customers:

How to conduct a survey- A survey is the gathering and analysis of information about a topic, an area or  a group of people. Surveys can be an economical and efficient tool for collecting information, attitudes and opinions from many people and for monitoring a project/program’s Progress.

When designed and administered correctly, the information collected can be

a true reflection of opinions held by the group from which you want information.

However, a high level of knowledge and skill is needed to design and implement a good quality survey.

This document looks at three basic types of surveys:

Self-completed questionnaires

Face-to-face interviews

Telephone surveys

There are nine steps to conducting a survey, including:

1: Decide objectives of your survey

2: Decide what you want to find out

3: Decide who to survey

4: Select survey method

5: Decide how many people to survey

6: Write the questions

7: Trial the questionnaire or interview questions

8: Conduct survey

9: Analyze information

10: Report findings

Decide objectives of your survey: My objective of doing the survey is to know about what our customers think about our company? To know from them the better ways to serve them. To provide our customers all the comforts and surroundings in our zone. The core objective of this survey is to know the new emerging needs of our customers. So that we can give our customers our level best service.

Decide what you want to find out: First decide what you want to discover through this survey. Also, discuss it with your employees and your owner that according to them what they want to know, these are perceived needs of customers, what changes they want in procedure of purchasing products and in products.

Decide who to survey: You also need to determine whom you are going to survey whether these are your employees or your customers or your product suppliers.

Select your survey method: Most important thing about survey is to select your method of survey. There are many methods of doing survey which are followings

Interviews, Questionnaires, Written surveys, Phone calls, Emails and interviews. These  methods are very useful as they aids in collecting the data, perceived needs, perceived wants and perceived demands of customers.

Decide how many people to survey: It is very crucial that you plan a survey and how you are going to do it. Select the number of people you will include in survey and also select where you are going to do your survey. Decide the age groups you will ask questions.

Building: block of your survey is your questions which you are going to ask. After deciding the agenda of your survey do some discussions with your employees so that they can give you suggestions on the things you are confused. Prepare your questions orally and practice them to increase your confidence.

To make your survey enjoyable and helpful in your business, do some practice with your employees so that you can have confidence in you to ask questions from people.

The conduction of survey is the final step of survey. Finally you are going to do the survey, for which you have practiced a lot and make so many preparations such as great ambience, making of questions and trial of questions about them etcetera.

Analisation of information- is the thing which was needed but we get through this survey. It includes the data by which a company can met the current requirements of its customers. Also, it will help the company which has done the survey to know the perceived needs and perceived wants of their customers.

Report findings: The last step of the survey is to make a report of your findings you observed during your survey and arrange a meeting through which you can inform your employees and owners to make changes regarding these perceptions of customers. Perceptions of people include the thinking of all age groups i.e children, teenagers, married couple, parents and grand-parents as well.

* Define customer’s actual needs:

From the surveys which were done by my company in the last months have results which show the actual needs of any customers. These are

Friendliness, Understanding, Fairness, Control, Options and alternatives and Information.

Kind disposition: Friendliness is the most fundamental of every one of clients’ needs, more often than not connected with being welcomed thoughtfully and with warmth. We as a whole need to be recognized and invited by somebody who earnestly is happy to see us.

Understanding: Customers need to feel that the administration individual comprehends and values their conditions and sentiments without feedback or judgment. Clients have basic desires that we who serve them can place ourselves in their shoes, understanding what it is they came to us for in any case.

Decency : We all need to feel we are being dealt with reasonably. Clients get exceptionally irritated and guarded when they believe they are liable to any class refinements. Nobody needs to be dealt with as though they fall into a specific classification, left thinking about whether “the grass is greener on the opposite side” and in the event that they just got second best.

Control: Control speaks to the clients’ have to feel they affect the way things turn out. Our capacity to address this issue for them originates from our own ability to state “yes” considerably more than we say “no.” Customers couldn’t care less about arrangements and standards; they need to manage us in all our sensibility.

Choices and options: Customers need to feel that different roads are accessible to getting what they need finished. They understand that they might be diagramming virgin domain, and they rely upon us to be “aware of everything” and give them “within scoop.” They get entirely irritated when they believe they have spun their wheels completing something, and we knew up and down a superior way, however never made the recommendation.

Data: Tell me, indicate me – everything Customers should be instructed and educated about our items and administrations, and they don’t need us forgetting anything! They would prefer not to squander valuable time doing homework all alone – they look to us to be their strolling, talking, data focal (piern, 2017).

* Comparison of actual and perceived needs:

Difference between actual and perceived needs

Actual needs- ‘Real Needs’ in marketing are the actual needs of the customers which he may not be able to pinpoint/state to the salesperson and some probing needs to be done by the salesperson to find out the exact nature of the stated need by the customer. Some of these are  Friendliness, Understanding, Empathy, Control, Fairness, Options and alternatives and Information.

Perceived needs- Perceived needs are those needs of customers to which they can feel and recognize only with their senses. Perceived needs are Consider customer’s need their priority, Never disobey your customer, Do take care of them properly and Fulfil their need of quality they seek for (james, 2015).

Task 2

* Development of marketing plan:

Marketing strategy-Advertising is the way toward arranging and executing the origination, evaluating, advancement, and appropriation of thoughts, merchandise, and administrations. A promoting technique is made out of a few interrelated segments called the advertising blend: The Marketing blend comprises of answers to a progression of item and client related inquiries.

Marketing Strategy is something that helps enterprises achieves Marketing goals and objectives. Marketing intentions help to achieve business objectives and business objectives drive to achieve a competitive benefit over another rival organisation

.

* Competitive analysis

One of the best ways to look at your target market and prepare your own marketing activities is by looking at your competition. You should know who out their selling something similar to what you are selling. (Dunselman, 2013)

Strengths: characteristics of the business or project that give it an advantage over others areLevel best customer service, Financial aid, Economic support, Job opportunities for unemployed, Friendliness towards our customers, Control, Empathy, Options and alternatives

Weaknesses: are characteristics that place the team at a disadvantage relative to others Small business, Small budget, Less number of employees, Tremendous marketing and Proper planning.

Opportunities: elements that the project could exploit to its advantage are Know the core of customers, Gathering customer feedback, Engaging with others, Marketing and Sharing content with others.

Threats: Elements in the environment that could cause trouble for the business or project are Business interruption, Liability losses,,  Injuries to employee, Managing electronic data and computer resources.

* Unique selling proposition: Unique selling proposition is a statement that outlines how your business, products and services are different from your competitors. For instance my business’s USP is come and take the best from us.

* Pricing strategy: Pricing is based on three things

Brand strategy, Channels of distribution and Marketing campaigns.

* Promotional plan:

Promotion is the way reach to your customers. There are a number of ways to promote the particular product or service. These are Flyers, Brochures, Pamphlets, Newspaper, Television, Radio, Magazines and Internet.

* Action-list:

It is aptly said that every coin has its two sides, in the same way small business has its advantages and disadvantages and to improve those disadvantages into advantages, I need to impose some new policies into my business so that my business can be able to compete with others in the market. New policies and rules are followings with the help of them I can take my business up to mountain hills i.e Hire some young employees, Policy to give compensation in turn of damage, Increase my budget and Arrange new marketing campaigns.

* Metrics:

The Standards of measurement by which efficiency, performance, improvement, or quality of a plan, process, or product can be assessed is called metrics. Here are some metrics of a business which you cannot afford to ignore are Sales revenue, Customer loyalty and retention and Size of gross margin (PEREZ, 2013).

 

 

 

 

 

Conclusion

The promoting plan is a cycle that starts and closures with assessment. The last stage in the showcasing plan is to gauge the results of the promoting exercises against the first destinations and targets. Nonstop assessment encourages the advertising group to concentrate on altering or acquainting new exercises with accomplish targets. Marketing is the most exciting of all business sports. It is the heartbeat of every successful business. It is continually changing in response to the explosion of information, the expansion of technology, and the aggressiveness of competition, at all levels and everywhere.All business strategy is marketing strategy. Your ability to think clearly and well about the very best marketing strategies, and to continually change and upgrade your activities, is the key to the future of your business.

 

 

Recommendations

Frame the above investigation of all the three options we locate that option An is most appropriate for R and H as it includes slightest cost regarding settled cost and gives the most elevated measure of net benefits for the organization. Accordingly, it is suggested that the current channel of offers ought to be utilized to deal MWX that incorporates formulators and ensuing modern providers and hardware stores. The cost of the formulators charged from the shoppers or modern providers ought to be expanded to $ 5.68 for every pack. This ascent in cost is defended due to the esteem accessible to end client from the utilization of MWX that is evaluated to around $40 per parcel that is much lower when contrasted with the contenders of the organization. Thirdly, special and publicizing activities ought to be taken keeping in mind the end goal to make mindfulness about the helpfulness and advantages of the item. Consequently, elective An at the elast cost and most astounding net benefits fulfills every one of these requirements for R&H.

Bibliography

arron. (2016). Pumping Iron Gym. NEW ZEALAND. Retrieved from pumpingiron.co.nz

Dunselman, M. (2013). Queenstown. Retrieved from http://www.strategiesmarketing.co.nz/

elderly. (2015). china. Retrieved from http://www.scmp.com/

J, J. (2017). Pumping Iron Gym. Whangarei. Retrieved from www.localist.co.n

james, j. (2015). muscls. Retrieved from http://www.muscleandfitness.com

PEREZ, N. (2013). Retrieved from http://foresightstrategiesgroup.com

piern, s. (2017). Muscle and Fitness. ca. Retrieved from http://www.muscleandfitness.com

rodney. (2017). health and fitness. rotarua. Retrieved from nz.pinterest.com

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