Ellie Mae Smith Unit 12: Assignment 1 - P1, P2
P1: Describe the role internet marketing has within a modern marketing
context.
In this report I will describe how the marketing activities of
McDonald’s and KFC have incorporated internet marketing. I will
look at how internet marketing allows integration of the marketing
mix and how it impacts on relationship marketing.
Product:
A product is something which a company creates in order to serve
the needs of the public; it can come in two forms: a service or goods. In
order for a business to be
successful they must create
a product which the market has a demand for, for
example if there were 4 bakery’s in Cannock town
centre, there probably would not be a demand for
another one unless you could off a unique selling
point which none of the others did. In order to find
out whether the product you plan to create would
be successful or not you must carry out extensive
market research. It is also important for companies
to expand their current product mix by diversifying
and increasing the depth of the products which
they offer. By doing this will increase the chances
of the public choosing their products over competitor products. It’s important for businesses like
McDonalds and KFC to advertise their products on their website so the public can see what they
offer at any time and details about the products, e.g. dietary information and ingredients. Above I
have inserted a print screen from the McDonalds where it shows
lists of all the products they sell and details about each one.
Price:
The price of a product is the amount of money which the
customer gives to the business in order to take ownership of the
product or use the service. The price which businesses charge is
very important because it has to be absolutely perfect for the
business to be successful (to make profit and survive), if it is too cheap the business may not be able
to cover their costs of production and advertising and therefore won’t make a profit, but if the prices
are too high then people won’t be interested in purchasing it and will choose competitor businesses
if their prices are lower. When deciding on what to charge for products a company should research
prices of similar goods or services in the market, so they set prices which will compete with existing
products. A business must have an estimate of what they will charge for products before they are
even created so they will know the most they could afford to pay a supplier for the stock, they may
have to shop around to find the cheapest supplier, in order to keep prices of the end product down.
By advertising the price of products on their website, it allows customers to view them at their own
leisure, it also gives customers confidence that these prices cannot be changed and there is a set
P1: Describe the role internet marketing has within a modern marketing
context.
In this report I will describe how the marketing activities of
McDonald’s and KFC have incorporated internet marketing. I will
look at how internet marketing allows integration of the marketing
mix and how it impacts on relationship marketing.
Product:
A product is something which a company creates in order to serve
the needs of the public; it can come in two forms: a service or goods. In
order for a business to be
successful they must create
a product which the market has a demand for, for
example if there were 4 bakery’s in Cannock town
centre, there probably would not be a demand for
another one unless you could off a unique selling
point which none of the others did. In order to find
out whether the product you plan to create would
be successful or not you must carry out extensive
market research. It is also important for companies
to expand their current product mix by diversifying
and increasing the depth of the products which
they offer. By doing this will increase the chances
of the public choosing their products over competitor products. It’s important for businesses like
McDonalds and KFC to advertise their products on their website so the public can see what they
offer at any time and details about the products, e.g. dietary information and ingredients. Above I
have inserted a print screen from the McDonalds where it shows
lists of all the products they sell and details about each one.
Price:
The price of a product is the amount of money which the
customer gives to the business in order to take ownership of the
product or use the service. The price which businesses charge is
very important because it has to be absolutely perfect for the
business to be successful (to make profit and survive), if it is too cheap the business may not be able
to cover their costs of production and advertising and therefore won’t make a profit, but if the prices
are too high then people won’t be interested in purchasing it and will choose competitor businesses
if their prices are lower. When deciding on what to charge for products a company should research
prices of similar goods or services in the market, so they set prices which will compete with existing
products. A business must have an estimate of what they will charge for products before they are
even created so they will know the most they could afford to pay a supplier for the stock, they may
have to shop around to find the cheapest supplier, in order to keep prices of the end product down.
By advertising the price of products on their website, it allows customers to view them at their own
leisure, it also gives customers confidence that these prices cannot be changed and there is a set
