Task 1
(P4 use marketing research for marketing planning)
Results
-75% want more children’s sandwiches
-82% want the shop to be open longer
-65% said the staff was unfriendly
-50% said the contents of the sandwiches could be fresher
-80% said they would prefer more wraps
SWOT Analysis
Strengths
- Because Mr. Khan has carried out the market research on his competitors his can adjust his own store make sure it meets the requirements that the customers need such as making sure his staff are friendly and help when serving customers.
Weaknesses
-The weaknesses of Mr. Khan’s sandwich shop is that there is already a shop in the area with a minimum of 200 customers which may make it harder for him to start getting customers
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By starting to make a children’s menu with a range of products from sandwiches to drinks and toys. This will bring more people with children into his sandwich store and mean that the parents will stay longer and spent more money in his shop because their children are happy and entertained with the meal they have.
PESTEL Analysis
Political
-Political factors are Laws passed by the government that affect the business and to what degree. These political factors include areas such as tax policy, labor law, environmental law, trade restrictions, tariffs, and political stability. Political factors can also include goods and services which the government wants to provide or be provided and those that the government doesn’t want to be provided such as tobacco and cigarettes which the governments allow to be sold sell but puts heavy tax on.
The smoking ban had a big effect on all business when it was put in place however it was a positive for shops and business like Mr. Khans sandwich shop because it prevents smokers from smoking in business and public places which allowed more people and a wider range to use the business such mothers and children to use his store that wouldn’t have used it before because of the smokers.
Economical
-Economic factors include economic growth, interest rates, exchange rates and the inflation rate which affect business in the way of stock prices, rent and taxation these
How and to what extent the government does intervenes in the economy. Political factors can be tax policy, labor law, environmental law, trade restrictions, tariffs, and political stability. Political factors that are found in the JetBlue case are:
Political factors refer to the legal activities and political rules that may influence the business in some way. However, ASDA will continue to face many changing in the business for better or maybe worse when it comes to changes in government laws, for example, taxation and unemployment. The government is encouraging business to create or provide different jobs for the consumer this may affect or puts pressure on ASDA as they have to meet the all the government rules and regulation while continues to run the business according to the law (Worthington & Britton
Competitive advantage - Nundies is an innovative product which provides an alternative to visible panty lines; no other company produces the same type of product
A1. Viability of Product or Service: Spice King is an Indian Cuisine and Sweets restaurant located in Renton, WA. Their current site, www.spicekingrenton.com, could use some work to increase their web imprint and bring more business to the company. The restaurant is located within a small ethnic grocery shopping mart on a side street in Renton. The restaurant is frequented by the local shoppers but offers so much more than just a quick lunch. They offer a range of Indian food and desserts and offer delivery and catering. Delivery and catering orders are primarily done via phone call. Customer feedback shows because of current site deficiencies, few orders are
6) Firms using mobile marketing to reach out to its customers may benefit from this type of marketing because it provides timely information to its customers as they go about their days activities. This would be especially useful for short term sales on products. If I was to get an e-mail notification of a two day sale at thegolfworld.com, I am able to use the link to view sale items right away.
Economic factors – which include interest rates, economic growth, exchange rates, inflation and taxation changes (Nieman, G; 1998). The change the economy can have a major impact on the behaviour of the business. For example: inflation may cause a higher wage demand from employees (Herrigton, Kew & Kew; 2009).
The business looks at the community and evaluates the needs of the individuals who live in the community. Many individuals have children in the community, and the economy is not in a terrific place. Children’s Stop Resale Shop has gathered different items from friends and family members to have products in the store on the opening day. Future items will be purchased or donated by local individuals in the community. The owners will sell the items to the public at a price low enough to be affordable to the community yet high enough to support the business. Purchasing quality items only will allow the community to know they are purchasing product that will last and look amazing on their children. The community can contact the owners and set up an appointment to bring in merchandise they are looking to sell to the shop. The shop owners will purchase items they believe will sell and will donate any leftover items to local foster families and shelters. This is another amazing way
Political factors is an external environment in which a business functions. This is a type of external constraint for a business and are related to actions of governments. This factors can affect how the business operates. Political factors include politicians, who make important decisions. These can be done at national level at the UK
Kelly’s sandwich concession has been selling sandwich and other lunch items to her customers for the past five years. Though small, her business has been a very optimistic and fast growing business. Applying different strategies to aid in the development of the business
that affect the way businesses operate. How a political trend affect business depends on the type of industry that we are looking at; since some legislations are only directed to a certain type of industry. Economic forces can also cause a crisis in an organization. Some factors such as the unemployment rate, interest rate health care costs and others can definitely affect the economic stability of any organization. Top management must consider political and economic trends that affect the specific
Top managers develop long-range plans, called strategic plans that define the company's overall mission and goals. Strategic planning focuses more on issues that affect the company's future survival and growth. To develop strategic plan, top managers also need information from outside the company, such as economic forecasts, technology trends, competitive threats, governmental issues and shareholder concerns.
•They are the most famous and one of the few outlets available in area and footfalls are generally heavy due to these•The places are usually visited very frequently by local people, students, etcPromotion•The joints rely on word of mouth publicity•There is no promotion done through ads for these joints. The promotion at maximum is limited to local newspaperSUGGESTIONS•McDonalds could increase the number of items served on its menu. Currently there are only 6 vegetarian and 6 non-vegetarian items served on the menu. It is also evident from the survey that many people feel that the variety of menu available is average and could be improved. Some of the customers prefer something new every time they visit. These potential customers could be targeted by increasing the number of items in the menu.
Customers is an important justification of a company’s success. Considering the interest of customers and portraying a good image to its customers, it had come out with different variety of meals. For example, the KFC offers kid’s meal which gives children free
When looking to add a new product to the market, traditionally five steps occur in marketing research and lead to marketing actions. Of these five steps, step number three covers the collection of marketing data. Marketing data can be collected through either primary research or secondary research. The goal of this assignment is to describe both primary and secondary research, provide examples of each and determine how the author’s organization could benefit from each. The author will begin with a description of primary marketing research.
Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.