The Factors Affecting Marketing Marketing Essay

The Factors Affecting merchandise commercialiseing Essay trade is the activity and set of movementes for creating, communicating, delivering and exchanging eat uperings which be in possession of value for clients, clients and partners. It is defined as the process of determining the stock and wants of consumers and being able to deliver growths that satisfy those needs and wants. Marketing includes all(a)(prenominal) activities that ar necessary to move a harvest-tide from the producer to the consumer, an standard of securities industrying is window displays in travel boardncies. doubting Thomas bull changes their window displays quite lots as they have many holiday deals to attract their customers, displays have catchy slogans to invite them to find step forward more than ab bulge out that holiday and reason outable wrongs including a packaged holiday.The portion of grocery throw ining is deciding as a whole what services and results the customer go out wa nt and what ways they entrust be delivered to the customer. It also helps a lodge to identify achievementful crops for the marketplace and thence promote them by separating them from similar products. There argon seven main functions of trade distribution, selling, financing, market information management, pricing, product and service management and progress. There atomic number 18 distinguishable aims of marketing to subjoin aw arness of the product or service, to increase market sh be, to research customer needs, to communicate with different customers and to solve any problems which involves impact the process of marketing.Marketing combine is different elements of a products marketing externalise which an organisation uses to view their customers needs, this is also do itn as the four Ps Product, Price, Place and Promotion. Product refers to physical products and services, the fol kickoffing ar some lessons of product decisions brand name, styling, packaging, q uality and repairs. Some specimens of pricing decisions include seasonal pricing, price flexibility, price discrimination and cash payment discounts. Distribution which refers to the place is solely about getting the products to the customer, here are some fonts of distribution decisions inst each processing, transportation, distribution centres and channels and inventory management. Promotion represends the various aspects of marketing, its goals is to gene come in a substantiative customer response by following decisions which include sales promotions, advertising, personal selling and habitual relations and publicity. An deterrent vitrine of marketing mix is a new company who is starting up their own company is trying to spend more money on promotion in order to get themselves kat oncen, whereas at the same time an established vocation will need to monitor its prices and if needed they will accommodate changes.Market division is the process of defining a large market into unload segments by having similar wants, needs and characteristics it has an objective to design a marketing mix which matches the expectations of customers. Market segmentation terminate be done in different ways using a combination of methods which include demographic segmentation, socio-economic segmentation, geographic segmentation and psychographic segmentation. Demographic segmentation is separating your consumers to advertise the groups separately correspond to gender for type developing holidays for women, age for manikin designing holidays to relate the needs of the 18 to 30 age group and people oer 55, and ethnic grouping. Whereas socio-economic segmentation is based only on occupation which is then advertised by the media to target people in an area. Geographic segmentation is collecting information consort to the location of the customer so they know where there products are being sold which increases advertising, an physical exertion of this is people supp ort in a particular postcode area could be sent a holiday brochure. Whereas psychographic segmentation categorises there consumers according to motivation, mannerstyle and record types and this can be done by introducing new activity holidays.Marketing communication methods is part of the marketing mix which extends to every the areas of the organisation this meat the same marketing message can be presented in all areas of marketing through branding to customers and target audience. Marketing communication mechanisms, such(prenominal)(prenominal) as print, radio, television advertising, publicity and online advertising help promote a companys products and services. Using different methods of marketing communication allows the company to reach the widest audience. An example of marketing communication is tour operators such as Thomas Cook who advertise their holidays on-line followed by pictures, prices and activities they include within a savoir-faire and they advertise on shop windows to attract more customers to book a holiday within them. Thomas Cook also appears as a pop up if a person is on an different website equal Facebook in order to sell themselves and make them known.P2/M1There are a variety of factors which capture marketing in the travel and tourism industry, this includes the ostracize and positive factors which have deflectd the marketing decisions. On the next few pages I am going to explain the effect of all the factors and include examples in my answers from travel and tourism companies.Company Ethos is a companys defined set of beliefs and set which can be articulated in a mission statement, these statements are then advertised on websites and in an office reception area. They are very important as it tells customers what to expect as a product and gives an idea to employees about what the company wants to accomplish. Social responsibility is an organizations management headway towards the touchs of the society in which it ope gr ade. Corporate brotherly responsibility (CSR) is the commitment by a telephone circuit in order to behave ethically and c everyplace up to contribute to economic development while improving the quality life of the workforce. Companies which meet their criteria can be listed which specifies to s payoffholders that the company has suitable polices for CSR. A CSR dodge is all about managing the way a business deals with issues such as gender and supervising foreign workers, it helps suss out that a business has positive impact on people as well as the purlieu wherever it ope evaluate. The first example of company Ethos is the mission statement of the skyway Easyjet which reads to provide our customers with safe and good value. To offer a consistent and accepted product and fares, appealing to lei convinced(predicate) and business markets on a vagabond of European routes. http//www.slideshare.net/esteewu/easyjet-presentation My bit example is Thomas Cooks stock change boilers uit price in December 2012 is 48 and the change is 2.13%.http//www.lse.co.uk/shareprice.asp?shareprice=TCG My triad example is British Airways objectives and strategies they want to become the fields leading global premium respiratory tract and to focus on customer service to help them create a sustainable future for their business. www.britishairways.com/cms/global/microsites/ba_reports0910/our_business/strategy2.htmlConsumer cheerion consists of laws and organizations which are designed to ensure the rights of consumers as well as truthful information in the marketplace. The laws are designed to prevent businesses who engage in fraud from gaining an advantage over competitors, they are a form of authorities regulation which aim to protect the rights of consumers. Consumer protection ensures that products purchased by consumers are safe to use, will meet all standards, that consumers have adequateinformationto make safe purchase and that marketers are prevented from using fals e methods to sell their products. An example of a consumer protection is the data Protection Act 1998 which gave individuals a right of access to personal data, this is often collected when a person completes the purchase of a service or good from a company which consists of bank, contact details and any other important information. Personal data must be kept pay off and up-to-date this data can be held either on a computer or in paper files. http//en.wikipedia.org/wiki/Consumer_protection_laws My first example is for the first time Choice which is a tour operator who has regulations to protect the travelling public they are protected by Air trip Organisers Licence (ATOL). This will not allow customers to lose their money or become stranded. http//www.firstchoice.co.uk/about-us/who-we-are/ My moment example is British Airways and its Data Protection Act they treat all their information as confidential so therefore they protect every customers privacy. All personal information w ill not be passed onto third parties. http//www.bavirtual.co.uk/administration/privacy My third example is Thomas Cooks codes of practice to the whitlow Records Bureau they treat all applicants fairly but however to prise applicants for positions of trust. http//www.thomascook.com/thomas-cook-careers/Standards of practice are an alternative term for code of professional responsibility, an example of this is codes of practice these are written guidelines issued by a professional standstill to its members in order to help them obey with its ethical standards. The British codification of advertizement is legal and honest, they value the principles, and they are prepared looking at responsibility within the society and the consumers and are also connected with the Advertising Standards Authority (ASA) who put ons responses about rules on advertising. The ASA work includes acting on complaints and checking the media to take action over against harmful or offensive advertisements. Th eir mission is to be more effective with business and consumers, be an effective part of the response to social issues which are come toed by advertising and making a success of regulating online advertisements. ASA is an independent body who checks samples of advertisements and work to publish standards of service so therefore they are committed to resolve complaints without any delays, to deliver a high quality service, to be open about their procedures and the decisions in which they make, meet all their customers needs and view the advertising industry and members of the public. My first example is tour operators such as Virgin Holidays who are subject to decree in order to ensure the health and safety of their customers on their holiday. My second example is Ryanairs display advertising which is one of the most effective media formats achieving 82% of messages among the different passengers and overhead locker advertising is visible throughout the flight. http//www.ryanair. com/en/advertise My third example is First Choice sales promotion on their voucher codes which gives a boost to customers especially as they can get discount on their next holiday and money off on summer and winter flights. http//www.vouchercodes.co.uk/firstchoice.co.uk governmental, economic, social and technological are factors that capture businesses, this is described as PEST analysis because the factors involved are categorise into four. PEST analysis helps an organisation to take note of external factors which are affecting its business they help with the SWOT analysis which identifies threats and opportunities. SWOT analysis evaluates internal factors such as strenghts and weaknesses and internal factors such as opportunities and threats which warps the marketing. semi semi governmental factors are related to government policy and administrative practices that can have an effect on something, these factors must be taken into account when considering a political change. T hese changes could involve employment laws which companies must therefore have respect for. Politicalfactors are how agovernmentinterferes in the economy, it include areas such astax policy,labour law,environmental law,trade restrictions,tariffs, and political stability. Political factors may also include goods and services which the government wants to provide and those that the government does not want to provide www.puremoneymaking.et/pages/strategy_building/mission-vision/elements-of-pest.aspx therefore the governments have great find out on thehealth,education, and infrastructureof a nation. International relations are an example of a political factor which is the relationship between countries, including the roles of states, organisations and corporations. It is the branch of political science that is concerned with the foreign affairs of and relations among nations, peoples and states. My first example is all tour operators have to be very careful of political incidents espe cially in all the different destinations they sell to their customers. My second example is the Foreign and Commonwealth Office (FCO) who gives up-to-date information on all safety techniques in the countries located all over the world. My third example is tour operators who can get all their passengers back home if something happens afield such as an incident and so therefore they make sure that they will be safe out there with given advice.stinting factors are the resources that can influence a person on their daily life and is the distribution of services and materials. Economic factors include economic growth, worry rates,exchange ratesand theinflation rate these factors have major impacts on how businesses operate and how they make decisions. www.puremoneymaking.et/pages/strategy_building/mission-vision/elements-of-pest.aspx An example of an economic factor is interest rates, it is the inwardness charged as a percentage by a lender to a borrower for the use of assets which c an include cash and consumer goods. Interest ratesare typicallynoted on an annual basis, known as theannual percentage rate(APR). Interest rates is charged or paid for the use of money, it is calculated by dividing the amount of interest by the amount of principal however the rates can change according to the result of inflation. Central banks generally tend to reduce interest rates when they wish to increase investment in the countrys economy they are taken into account especially when dealing with variables like inflation, investment and unemployment. My first example is passengers travelling on different airlines have to pay air passenger duty only if their aircraft carries chargeable passengers. http//www.nibusinessinfo.co.uk/content/when-you-must-pay-air-passenger-duty My second example is interest rates in the Bank of England which holds interest rates at 0.5% the reason they set interest rates is to keep the inflation as low as possible to preserve the value of money. http//w ww.bankofengland.co.uk/Pages/home.aspx My third example is exchange rates which affect a tour operators pricing strategy, this is because it can increase or lower the price of a product in store or abroad and prices of products from competitors can change. http//www.tutor2u.net/business/gcse/external_environment_economic_exchange_rates.htmSocial factors are the facts that influence individuals personality, lifestyle and attitudes which include the cultural aspects, health consciousness, community growth rate, age distribution, career attitudes and emphasis on safety. Trends in social factors affect the imply for a companys products and how that company operates. www.puremoneymaking.et/pages/strategy_building/mission-vision/elements-of-pest.aspx An example of a social factor is aging population, this occurs when the medial age of a country or region increases collectable to a rise in life expectancy and declining birth rates. population aging is a shift in the distribution of a countrys population towards older ages, this is usually reflected in an increase in the populations mean andmedian ages, a decline in the proportion of the population composed of children, and a rise in the proportion of the population that is elderly. Population maturation is widespread across the world and is mostadvancedin the most highly developed countries. http//coolgeography.co.uk/A-Level/AQA/Year%2012/Population/Population%20change/managing%20pop%20change%20new.htm My first example is ageing population in Japan the elderly population which includes people over the age of 65 years hit a record of 22million. http//news.bbc.co.uk/1/hi/world/asia-pacific/1083097.stm My second example is the media which has a social influence on different cultures especially in America where media such as TV, magazines, movies and news media reflects and creates the culture. http//www.cliffsnotes.com/study_guide/The-Role-and-Influence-of-Mass-Media.topicArticleId-26957,articleId-26946.html My second example is holiday participations to Madame Tussauds where you have the chance to compute celebrity wax figures, the way these celebrities are made are frightful as they look real when you see them face to face. http//www.madametussauds.com/Technological factors are influences which have an impact on how an organisation operates that are related to the equipment which is utilize within the organizations environment. The factors include technological aspects such asRDactivity,automation, technology incentives and the rate oftechnological change. They can determine barriers to entry, minimum production level and influenceoutsourcingdecisions and these technological shifts can affect make ups, quality, and also lead toinnovation. www.puremoneymaking.et/pages/strategy_building/mission-vision/elements-of-pest.aspx An example of a technological factor is the internet which has changed the way customers book their holidays, on-line booking systems are used a great number of tim es by people for booking holidays as well as hotel accommodation and transport. Travel agents and tour operators are making use of new technologies now and again in order to market their services and products this allows different companies to market via the internet. technology has also changed the way that firms market their products, prices, places and promotions. My first example is the internet where now every customer prefers online booking for their holiday, this has affected travel agencies as they receive fewer customers to help book a holiday. My second example is Heathrow airport and its self check-in scheme where the customer uses a computer to engage their seat and print out their boarding card and then take their baggage to the bag-drop facility. http//www.heathrowairport.com/heathrow-airport-guide/checking-inselfservice My third example is new technology being brought out which is a good thing as it is benefitting each and every customer to carry out advertising vi a other companies as well as their websites.Environmental factors are a restricted element in the physical, cultural, demographic, economic, political, regulative and technological environment which affects the survival, operations and growth of an organization. www.slideshare.net/Karvee/environmental-factors-business Environmental factors include bionomical and environmental aspects such as weather and temper which may affect industries such as tourism, farming and insurance. Therefore growing awareness of the impacts of climate change is affecting how companies operate and the products which they offer. www.puremoneymaking.et/pages/strategy_building/mission-vision/elements-of-pest.aspxAn example of environmental factors is global thaw which is an average increase in the temperature of the atmosphere near the Earths surface change to changes in global climate patterns. Global change is often referred to the warming which can occur as a result of increased emissions of greenho use gases from human activities. Another example of an environmental factor is natural disasters, this includes earthquakes, avalanches, hurricanes, floods, mudslides, tornadoes, tsunamis and volcanic eruptions. My first example is global warming which is a rise in temperature of the earths atmosphere and it can be good but if the thermal mantel gets thicker too much heat is kept therefore it is bad. http//news.bbc.co.uk/cbbcnews/hi/find_out/guides/world/global_warming/newsid_1575000/1575457.stm My second example is natural disasters which includes floods, hurricanes, earthquakes, tornadoes and tsunamis and most of the times they are unpredicted and overwhelming. http//www.apa.org/topics/disasters/index.aspx My third example is Boris bikes which are bicycles named after Boris Johnson who is the mayor of London and the prices are as follows 24 hours costs 2, 7 days will cost 10 and annual costs 90. If the bike is damaged the charge will be up to 300, late return charge will be 150 and non return charge is 300. http//www.tfl.gov.uk/roadusers/cycling/14811.aspxAll the factors which are mentioned in a higher place influences decisions on marketing which means companies may have to come to a conclusion to change their old products, change their prices, advertise new campaigns and make changes to marketing communications. Price andcompetitionrepresent two of the strongest influences on marketing strategy which are classed as internal and external influences. For example, small businesses supplicate direct short-term profits therefore the marketing strategy introduces a high-performing product to a niche segment of the market before competitors. The business then generates as much profit as possible until competitors introduce a cheaper product and then it moves to launch a new product in a new market. http//smallbusiness.chron.com/influences-marketing-strategy-43431.html