Before discuss the term ‘marketing’ at first we have needed to know what a ‘market’ is. Generally a market is a busy place where some peoples goes to buying and some people goes to for selling, like bazaar. But in wide sense market is not a place for only buying or selling, because the people goes to market for their necessary needs of life. For example Bank. So we can say that a market is a place ‘A regular gathering of people for the purchase and sale of provisions, livestock, and other commodities’.
Marketing is the process used to determine what products or services may be of interest to customers and the strategy to use in sales, communications and business development. So in view of customer marketing means to buy anything and in view of seller marketing to collect or produce the products or services which is necessary for the buyer and the customer are interest to those product and service.
Characteristics of marketing Concept:
If we analyze the Britvic Company information we can find out some characteristic of marketing concept those are:
(i) Company should have a target market;
(ii) company should identify unsatisfied needs of target market;
(iii) Firm should work with harmonization with other firms.
MICRO AND MACRO ENVIRMENT
Micro economy is the study of the micro units of market economy of supply & demand of goods & services that are market forces to determine price of a commodity. During the mid 19th Century we can say that time Britvic Economic was look like micro economic. So a micro environment is the weather climate of a particular piece of lands (a small one) e.g. a town, village or city.
Macro economy is the study of the aggregate goods & services -total production of the nation’s economy-equilibrium level of income and employment of resources in national economy (dwells into inflation, unemployment, GDP). After the 2nd world war Britvic Company went strength to strength and it made contract with the other out side UK companies and during that time to present we can say that Britvic environment is macro economic environment. Because at present time a lost of national and international peoples are working in Britvic company and is a contribute to increase the notional GDP.
Micro economics is more focused on individual market businesses and their actions in accordance with income-supply and demand as price theory.
Market Research
On focus on Britvic Company we can say that market research and the information gather are very important for an organization. Market research and the information gather is an essential part of any business that wants to offer products or services that are focussed and well targeted.
Market research will bring the following benefits:
(a) Market research will help you better;
(b) Market research helps you identify opportunities;
(c) Market research will minimise risk;
(d) Market research creates benchmarks and helps you measure your progress;
(e) Market research will show if improvements are being made and, if positive, will help motivate a team.
Marketing Information Gathered offers many advantages:
(1) Organized data collection;
(2) The storage of important data;
(3) Data amassed and kept over several time periods;
(4) A broad perspective;
(5) The ability to do a cost-benefit analysis;
(6) Coordinated marketing plans.
Process of Marker Research
There are 2 ways of market research:
1. Primary;
2. Secondary.
Primary: this research involves collecting information to meet our specific need. Primary research can be Qualitative and Quantitative.
Secondary: This research involves analyzing information that already has been gathered for another purpose.
Qualitative research:
Qualitative research is used to explore people's opinions about new or existing products or markets through open-ended questions or discussion. It may be conducted in a number of ways, including focus groups and interviews, and open-ended interviews
Which is already did the Britvic Company.
Quantitative research
Quantitative research surveys larger numbers of people than qualitative research and generates statistics such as the size of the market and the percentage of customers satisfied with a particular product.
I think the most east way to this research is telephone. And the Britvic Company may apply this.
The Six Steps in Conducting Quantitative Marketing Research.
1. Identifying and defining your problem
2. Developing your approach
3. Establishing research design and strategy
4. Collecting the data
5. Performing data analysis
6. Reporting and presentation
