Marketing is about understanding customer and ensuring that products and services match existing and potential customer needs. Also marketing is an approach that puts the customer at the centre of things and is also about looking at ways of influencing the behaviour of customers. Marketing is very essential to the success of any business. Its aim is to enable business to meet there needs of their customers, whether it is for profit or not. If the business marking is successful then you can ensure that the business has a good understanding of the customer needs, they can keep ahead of the competition, working effectively with customers, co-ordinate its functions to achieve marketing aims and be aware of constraints on marketing activities.
Marketing research Market research is the process of gathering information about your customers, competitors and market trends. Before undertaking market research, a business needs to consider what type of research is likely to provide the most cost-effective means of producing the answer requires. The business researches any new products that are coming into the business by visiting suppliers, by going to stores near by to check if they have any new products and by speaking to sales reps. They done this by looking for popular products and choosing them. Which should guarantee sales and improve there profits. From this the customers will spend more money and think that the business has better quality products.
This will help create customer loyalty and repeat purchases. For example, the business has brought a new product which was offered to them by their suppliers. This product has made a lot of profit because it is meeting needs of customer. After choosing the products that the business wants they promote them through leaflets and point of sales displays to draw attention. For example, for PayPoint the business has Point of Sales leaflets and posters. All of theses will help improve the aim of improving reputation and will show a positive image and will encourage sales. For more information and evidence that the types of payment that can be paid with PayPoint please refer to appendix 13.
Primary market research Primary market research is information that is collected directly form the source. Theses are surveys, observation, consumer and test marketing. The business wants customers to have the best quality service and good quality products. Customer needs is one of the marketing used at Khera Doaba stores, their mission is to represent the higher service within their area. They do this by using primary research some of this research includes questionnaires that are given out in the stores and surveys which are designed to ask their customers question and to give their own opinion about the products that are sold in the store.
Surveys – this is one way to find out more about customers want and if they want any improvements to the business. Dalip Khera does this by giving out questionnaires. These are given to customers that come to the store. thses questionnaires are given every 2 months. They ask question such as “how good is the customer service” and “how to improve the shop”. The main methods that the store uses to distribute surveys are thought via postal mail, phone, or in person. This helps the business to bring customers in because the business can provide the products and services the customer want.
This helps the business to price product and change prices. For example, they could offer discounts on sweets. Its also helps the business to bring in new products. For example, more wider range of sweets. It helps in promotion because from this they can create adverts to inform products that are on for offer. For example, they have poster on the windows and leaflets. For more information and pictures of poster please refer to a03. It helps the place because if the customers don’t want products then there will be more space on the shelves. But if customers want more products then the shop will look like it has a lot of products.
This helps to encourage more sales, which is one of my aims. They also encourage shoppers to buy other products in the store and helpa the business to cater for a wider range of products, which will meet there aims of improving profit and expansion. For surveys refer to appendix. Observation – with observation the store is able to monitor the behaviour of customers as they engage in regular purchase. Form this the business finds out whether there employees are working up to standards and if they are doing their job roles. The business uses this technique to track customers that enter the store. For example, they find out what products sell and if they need any new products in the store.
Experiments – the business often undertake experiments to gage how the planning of one marketing variable will affect another (causal research). From this the business finds out how to price there products. For example, weather they should have higher prices or low prices. From this the business can achieve there aim of improving reputation because by using the surveys they can find out weather customer like there service or don’t. Also from this the business can adapt to meet the customer needs.