Unit 7 P3 Business

Slide 7 (Tactics- Marketing Mix)

The function or framework which selects the customers’ needs and demands, target the market is known as marketing. In a market marketers used the marketing mix strategy or framework. the marketing mix strategy consists of four P’s. They are followings:

• Product

• Price

• Place (distribution)

• Promotion

To satisfy the customers in the competitive market a company can use this strategy and the contents of this strategy. a marketing manager keep the capability to control these variable of marketing mix strategy.

Product: Gregg plc is the largest bakery company in United Kingdom. It offers its customers different kinds of product which the customers need. the products our chosen company provide its customers

So, to set price of a product a company should consider the customer’s perceived value. Gregg plc provides its customers different kind of product. So, depending on the products quality, quantity and types the price is fixed by the company. Foods which are provided by the company are very popular to the customers. The price of the food is not so high for the purchaser. Customers can purchase their preferred products with their budget. So, this strategy is very helpful for the company.

Place: This variable of marketing mix refers that place of a company or outlets should be that from where the customers can easily access the product as their choice. So, to determine the place the company should consider how easily the customer get the product, the competitors do etc. our selected company establish almost 1,671 outlets with 9 regional workshop so that the can reach to all of their customers easily and customers can get their necessary product within short

• Fixed cost.

We have divided our Cost of present situation analysis into 3 parts. They are marketing research, technical cost, website cost. Here, it can be seen that in the screen, our marketing research cost is 1400. besides the marketing research cost, we have to bear some other cost for assessment of the market which are related to demand, position of business and competitors, customer’s attitude etc. Also, to do the analysis properly, for technical help and for website we have to expense total 1500. For technical support 800, and for website support 700.

Our fixed costs are divided into two parts, remuneration and support tools for customers. Our total fixed cost is 1350. So, our total cost is 4,250.

Slide 9 (Control- Balanced Scorecard)

Balanced Scorecard is a matrix which is used by the management to find out the company’s internal factors and their outcomes.

Financial Perspective: When a designer want to choose and design a measurement that help to provide a information about the companies looking’s of about shareholders, the designer will be helped by this perspective of balanced scorecard. Gregg plc will give priority on the timely and accurate funding data. It will improve its sales by 15% and profit by 23%. To increase such amount of percentage it will conduct recruitment and improve product