Marketing Planninb - 5737 Words

| HND Business | | Marketing Principles | | LCC20146213 | | Taslim Ahammad | | 20/03/2015 | Hyasmin Hyasmin Unit 4: Marketing Principles Task 1 1.1: Elements of the marketing process Marketing is the action of a business endorsing, promoting and selling products or services, including that of market research, surveys and advertising. It’s the method of which goods and services move from concept to the consumer. â€Å"Marketing is a human activity directed at satisfying human wants and needs† (Phillip Kotler). The marketing process involves four steps. These four steps are all accomplished with the goal of creating value for your target consumers. Some elements of the steps are performed†¦show more content†¦However Starbucks, are targeting to differentiate based on quality. They have decided to increase their product line where high quality and more costly items are presented: Starbucks is introducing coffee made using rare, luxurious coffee beans. Contrasting Costa Coffee, they are aiming to compete using a low-volume, high-margin sales method. Starbucks appears to be generating a more sustainable marketing strategy that will prove to b e more competitive in longer term. Competitors taking chance to reduce the price, announcing a competitor product, persistent growth of production to improve the market share. Starbucks substantial invention their products which also competitors will gradually keep up with. It is very difficult for Starbucks as a competitor to keep the fixed cost against the inconstant cost. The importance of customer satisfaction, customer care and relationship marketing; It is essential that the customer requirements are being met with suitable products and services, so than the customer will be satisfied and more likely to return so then the business is expected to survive longer and make more profits. Starbucks provides a homely environment and luxurious and personalised products, as well as the loyalty and rewards bonuses for their regular consumers, so they are already trying to fulfil and exceed customer expectations. Customer care or service is most essential in any