Business and marketing tactics of london 2012 olympics marketing essay
Olympic is global function, it really is world participate event and whole world turns into a one village with one ambition. With this function, more persons migrate to London and others people are indirectly take part through press. More migration causes increase London population and identical to more money comes to London, so that it creates new marketing opportunity in London and UK. Many of multinational companies invest for this big project and every company are trying to increase their revenue of production and products and services. It creates big competition among the same items and service providers. Proper marketing plan is important to achieve marketing goal of London 2012. Previously government and individual sector has invested additional money for the various jobs and improvement of infrastructure establishments, especially Stratford spot infrastructure facilities is being improved. At finally they need to harvest profits of this event with successful marketing strategies this task transform the City of London right into a product to generate global attraction and advertising spots through the delivery of London 2012.
Definition of marketing
The charted institute of advertising (CIM) defined marketing as ”the management procedure responsible for identifying, customer anticipating and satisfying client needs (requirements) profitably’.
Philip Kotler defined marketing as ‘satisfying desires and wants through an exchange method’. But P. Tailor described ”Marketing isn’t about providing services or products it is essentially about providing changing advantages to the changing demands and needs of the customer”. When comparing all above three differences there isn’t big differences, but charted institute of marketing (CIM) defined marketing as management method and responsibility in fact it is specially mentioned, it must be profitable manner, but regarding to Philip Kotler classification it mention as exchange process. When you compare both definitions with P. Tailor definition it’s been thought as providing changing benefits to the changing necessities and demands of the client. Finally, equate to above three definitions, common thing of all three definition is ‘satisfy customer wants and demands with profitable manner”.
Source: http://www. learnmarketing. net/marketing. htm
Business organizations vary with their orientation. There happen to be four key orientation as development orientation, Sales orientation, Product orientation and Industry orientation. Production oriented business is mainly emphasis to produce large amount of output and thereby, they are geting rewards their economies of level. Sales orientation is principally emphasis to market larger amount of outcome inappropriately of whether the output is required by the client. Product orientation is principally emphasis with the quality of its products and program. A enterprise assume that as long as its item was of a higher standard, persons would buy and take in the products.
Marketing orientation is principally emphasis of the client first and the requirements of the business next. The business organizations main ambition is to gratify the requirements of its consumer, which can be an outwards facet of business.
Main Characteristics of Marketplace Oriented Organization
Market oriented company consider the clients first and they share the common value of best quality of products.
Market Oriented Organizational provides very easy system and their plans aren’t very difficult.
Market oriented organization Strategies are long term, versatile and participative.
Market oriented companies concern the ambition of the stakeholders before put into action any decision
Decision are being used on top-notch external and internal values
Production efficiency is results of the coordination of source and demands anticipations
London 2012 Project is a market oriented organisation or not
London 2010 Olympic project is key will be important function of recent years of London. There are numerous corporations are targeting this incidents for boost of their services and products. There is usually big competition among same goods and providers, with this completion now there have to finding alternative to beat one another. All are targeting same customers so consumers have various alternatives for their preferences that cause them to select best product and service. When they select best products or service, quality and price are highly considered, with this example companies have to identify customer behaviour and they need to give more concern for client satisfaction. This situation create the market oriented business, therefore 2012 London Olympic project will be a market oriented Organization.
Marketing concept with regards to the Olympic marketing activities
There are various components of marketing principles. Olympic is huge occasions on the planet many companies joint with this happenings and they try to increase their market share with this event, specifically multinational businesses will lead in this happenings, the majority of time they are the key sponsors. With their marketing activities, marketing concepts are incredibly vital that you achieve their marketing goals. In here predominantly concern about few marketing concepts linked to Olympic event as fallow:
Target industry is Defining precisely who we are targeting allows business owners to concentrate on specific buyers and reduce marketing waste. In Olympic game several customers (Segments) will take part, as a one provider it cannot target entire customers so they need to identify target consumers in effective and reliable manner.
The marketing mix is normally defined as product, pricing, place, and advertising. As a business must particularly decide on its products, the appropriate pricing, where and how it will be distributed, and how it really is communicated to everyone. In Olympic incidents, proper products or services identification is essential, in such big event target customers are more therefore good deal and more sales concepts is essential when considering cost. Olympic is big place for marketing but distribution system and way of distribution is triggered its achievement. Proper promotion programme create more customers because it is communicate of clients effectively and efficient method.
Strategy immediately follows planning because technique may be the foundation for the others of marketing activities. In the process of planning, we should design our approach: who we will concentrate on, how we will aim for them, and how will we hold them as a person. In Olympic events exclusive approach is displayed by many of companies. Especially transports program of London, it will be expanded because these days inhabitants in London will become go up, so regular service isn’t enough, banking actions will increased with higher cash circulations banking sector has to implements new strategy according compared to that situation.
Customer relationship management, marketing and Advertising, Branding and budgeting are others significant marketing concepts linked to 2012 Olympic events. Those concepts consideration is cause sustainable marketing process nowadays celebrating function in London.
Benefits and costs of promoting methodology for London 2012 Olympic
When arranging such mega happenings Cost is quite high and benefits as well same as it, when contemplating cost it is linked to various aspects as follows:
Big purchase for infrastructural facilities
Care must be taken up to differentiate spending by citizens from spending from non-residents, and also to take bill of spending that
Advertising and promotional expense is very high
Environmental pollution increased
Illegal activities increase
Increase administration and recruitment cost
Implement many conveniences for 3 weeks duration and sometimes then it can’t be used.
Many organizations need to increase infrastructures within short time in fact it is big investment within short time.
Highly purchase entering with governments barriers
Benefits of marketing approach
The Olympics provides a raise to tourism and travel to London, through the Olympics and ideally after Olympic games.
Helps to regenerate the East portion of London which area business Organizations
Encourages sport in the united kingdom, might make the UK have better fitness specifications and less obese minimizing demand on healthcare and it lead for achievement of business business who are regarding in linked to business.
Improve transports sector infrastructure and money.
Within short term, Firm can increase their sales
Sports equipments demands will be improved, and that type of companies has good possibility to increase of their product sales and innovation of new products and good chance to introduce that
Olympic is globe participate happenings, so advertising is significant events and it provides big completion. In any manner companies have very exceptional opportunity to communicate their therapeutic massage through Olympic game.
Hospitality market has big possibility to expand their service, specifically hotels, it has possibility to increase their space occupancy and promote their services and service. And identical to textiles industry has big opportunity to introduce fashion linked to Olympic game.
Task 1. 2
Macro and micro environmental elements which influence advertising decisions of London 2012
There are various factors in the macro-environment that will influence the decisions of the managers of any business. Swelling, recessions, environment pollution, Tax changes, new laws and regulations, trade barriers, demographic transformation and government policy changes are all types of macro change. PESTLE unit is very important to investigate macro environment of 2012 Olympic video game in London. These elements are directly influence making decision of London 2012.
These concerns to authorities policy like the degree of involve in the economy, during the Olympic video game 2012 and before that government will introduce many guidelines for manage it properly. They’ll introduce some advertising barriers and special tax plans and etc. So these changes influenced to any company decision making process. Especially health insurance and safety policies are vital, because in 2012 London population will increased more than present situation and raise the their activities, therefore government must concern about these situation and they have to change policies according to circumstance. Immigration guidelines are another concerning location because there is opportunity to entering illegal people and illegally preserve in this country. At the motion infrastructure is improved which will be a large influence for marketing decision.
Government asks to invest to these massive occasions, big companies have an excellent possibility to increase their sales and introduce innovations during this period. So are there required some motivation, it really is government responsibility to motivate them giving some cost-effective benefits to them as reduce lender interest rate, bank loan, tax rewards and etc. During this time period there will arise many opportunities for the buyers and people also prepared to spend more money so economically London will change. But still cost-effective recession is is present. Economically factor will major influence for decision making procedure for 2012 London.
In 2012 London population will increase more and various geographical different people worldwide should come here. With the population increase, wants and demand will get increased even more, and with different persons arriving, different goods and provider are demanded. Regarding to over situation, new prospects and competition enter to market therefore in decision building process is effected cultural factor more, so institutions need to fully concern concerning this situation when they are receiving new decisions.
During Olympic time of year and before Olympic many organizations are prepared to introduce their services. Companies’ intent to accomplish innovation parallel to 2012 Olympic, specially mobile phone companies, tourism organization, hospitality organization, banking institutions and etc. During this time period technology will do main part of marketplace, because London is certainly a technologically highly improved metropolis. With concern all preceding situation technology effect for decision making procedure for marketing in 2012 London.
Market must adapt relating to such problem, because environmental factor can’t be change and option adaptation according to scenario. Especially during 2012 inhabitants in London increase more same as there is possibility to increase environmental pollution, when decision building process, organizations have to concern relating to this situation. More textile firms will introduce fashion to advertise parallel to Olympic video game, at that time they need to concern about climate in London during this time period.
Legal factors are extremely vital that you proper market control during this time period.
Market segmentation is the identification of portions of the market that are different in one another market (goods or services). Segmentation facilitates the organization to better satisfy the necessities of its potential customers. Consumer markets could be segmented on based on the following customer characteristics and behaviours.
Source: http://www. freebizplan. org/business_strategies/marketing/marketing_oriented. htm
Segmentation Criteria for several Products
Company may use different industry segments for hair shampoo. When contemplating gender wise they own two marketplace segments as individuals. You may want to teach them how to write a compare and contrast essay thesis to keep the current work in the front of this section and place completed compositions in the back of this section. It can be additionally segmented according to age group wise; there happen to be few segments under age group as Children, young, parents and old persons. And another segment can be family shampoo. Shampoo could be
segmented regarding type o head of hair of customer as common hair, dry head of hair and dandruff hair.
Hair shampoo can be segmented more segments additionally, according to customer profit it usually is divided three segments as high income, low profit and normal, but the majority of shampoos brand is concentrate on normal income as common income level since it isn’t a expensive products as good examples: Dove, Sunsilk, Pantene, Sharp, head and shoulder
If any company needed, it is usually further segmented basic on activities as Sport players, pupils, occupied persons and general.
There are different market segments for the boots and shoes. It might be categorized under various criteria of segmentation.
There will be two Segmentation base on gender sensible as people shoes. Another segment is based on years level as baby, Children, young, Adult and good old people. It is usually categorized further segment bottom on Activities as Activities ware and Casual ware. There can be another segment regarding to Time of year as summer and winter. Beneath the demographic Criteria occupation is very important for shoes segment it really is segmented as Professional shoes and boots, Labour shoes and standard shoes. Customer income is normally another practicable segment it is go with social position as high profits, low income and middle class (middle income) as types of Brand for above segments happen to be: Adidas, Nike, Rebook and etc.
Effect of the segmentation elements and financial capabilities to focus on marketing strategy
When looking at above Segmentation standards organization has to concern its financial features. Big business like multinational brand, they are able to invest more money because of their production and they also can identify various marketplaces and then production can be allocated relating to those segments. Provider like Adidas and Nike include big purchase power and high marketplace share in worldwide, therefore they have significantly more strength to treat every target market. But small enterprise cannot reach every industry segment. So such business should identify most suitable conditions (profitable and economical)
When they are investing in a product there several functions, which consumers go through? These will be proven below.
Evaluation of different order options
Post purchase evaluation
Factors influencing the behaviour of buyers
Consumer behaviour is influenced by many uncontrollable factors.
Culture is one main point which effected behaviour.
Other factors like sets of friends, or persons they research to effect their collection of purchasing a particular service or product.
The customer economical environment also offers an influence on consumer behaviour
Marketing and marketing campaign obviously influence buyers buying behaviour
Peoples social status can be impacted their behaviour. There are various factors effect on consumer behaviour.
Buying condition of Olympic Branding items of official sponsors
When looking at Olympic sponsors, they will be big company who are running in UK marketplace; they have good industry share and good Company impression in UK and beyond UK aswell. Olympic is massive event and worldwide people should come to London, with that situation, many options will be raised and the ones customer buying power as well high so Brand image is very important factor for buying process. Besides that customer way of life and environmental situation in at that time result in customer buying process, especially considering about British airway they have good opportunity to enhance their travel sales. And client ready to offer more money because of this occurrences because their come to take pleasure from and get experience in here. Marketing will be motivated consumers buying process.
1. 3 Task
How take competitive advantages of official sponsors in Olympic game
Olympic is Mega event and worldwide people are connected with this immediately and indirectly, but almost all of people are connected with indirectly through the telecommunication, especially internet, television and through other mass media, it is live occasions. There are limited recognized sponsors as well as Olympic game, but these sponsors have offered big investment for this event for take on sponsorship. Through this sponsorship their primary aim for is increase their product sales volumes and popularized their brand around the globe. With all these, their final objective is competing with their competition and increase sales of products or Services. Taking sponsorship likewise big completion because many organization want take advantage of such massive event to transfer their massage therapy to customer and this is world one of best chance for that.
Under same product or service two companies can’t be a main sponsor and one provider takes the opportunity who offers more for this event. But all the companies have to appear with their company in this celebration, so they will be unofficially present using numerous strategies, but all of the scenario are legal so no-one is allowed to take them off, but official sponsors have more unique opportunities those are not offered for unofficial businesses, Like as showing brand with players wares, fastened with ground decoration, joint with established telecast, get maximal legal authority advantages from prevent unofficial firms intervention of the events and etc. So that it is big completive advantage for them so they should try to properly communicate their massage therapy with this sponsorship in any other case their purchase will be waste.
Effective distribution network for buyer convenience
Companies have to correctly organize to transfer their massage therapy to customer in London and all over the world. Therefore it should be more effective and efficient way. Primary thing is create appropriate massage to transfer, some businesses create unique massage specially targeted for Olympic, some time it is such as a mission statement. Companies need to create proper advertisements for reach to consumers very successfully. With this events buyers demand will be heightened according to such increment firm need to adapt, especially satisfactory staff, so they have to plan right recruitment and selection process. Production ought to be increased so companies need to adapt short time more production. Innovation is another main aspect, every company try to innovate services and service during this season. With all these create a proper distribution net work, skilled human electricity and technology are vital for appropriate distribution network.
Prices arranged to reflect an organisation’s goals and marketing conditions
Price setting is vital factor for competition, competitors are always try to reduce cost and price tag to face to completion and make the most, low cost and good deal strategy is leading to market orientation concepts, nonetheless they need to concern about quality of products. With all these, quality, low priced and good deal are big completive advantages. When price setting, price of whole process is considered, and some companies are planning less profit margin with an increase of sales, in those days they try to keep fewer margin of earnings and try to increase sales volumes.
These prices setting be based upon company objectives, expense of process and marketing environment. Many businesses invest big part of money for advertising and promotional programme that will cause increase cost of method. Especially main sponsors happen to be in Olympic game, they have invested more money for their sponsorship and promotional programme. Price setting is quite complex process, one company needs to identify competitor price and market environment before fix the purchase price. But most of buyers who participates this celebration, willing to expense more money because they are arriving at enjoy with this function and get experience
Organisation (London 2012) integrates its promotional activities to achieve its marketing objectives
Olympic is huge incidents and it is common in worldwide and extra persons joints with that directly and indirectly, so when implementing promotional program is have to considered more elements. Proper integration of promotional activities is very important, because this massage should go all over the world, so they have to combine with just about every region. Olympic lamp circulation all over the world is such promotional function. While preparing promotional programme, it must be match with its marketing objectives. Creative and effective massage transferring is one key step of promotional program, link with whole press is another step, but more priority for convenient and effective media selection. Using prior Olympic star is quite common promotional strategy, but it is more successful strategy.
Marketing strategic decisions generally categorize in to the following four controllable groups
Product 2. Price
Place (distribution) 4. Promotion
These variables groups are referred to as the marketing blend or the 4 P’s in advertising. They are the variables which advertising managers can control so as to best gratify customers in the target market. The marketing combine is displaying in the following diagram
Source: http://www. netmba. com/marketing/mix/
Marketing mixes for fast food consumer market Segment
Fast food industry is very popular in busy city like London. There are various ideal companies for fast foods as McDonald, KFC, Pizza Hut, Domino, Burger King and etc. Marketing mixes application is important procedure for success of any business. Product is very important most of junk food content meet and bakery, and potatoes, especially poultry, burger, Pizza and Chips are incredibly popular among the fast food since it is convenient to consumer and easy to process.
Price setting is important, because there are various competitors in this industry, especially chicken shops offer good deal for customers. Place ought to be more peoples are shifting place, especially city area earn more income, because always persons are coming to day to day activities and they don’t forget to have junk food. Promotion is giving massage to customers, when innovative product innovation, they need to promote it to consumers. Many companies like McDonalds, Burger Kings will be performing this with their items innovation.
Differences in marketing products and services to organisations
Selling a service is fundamentally different than selling a product. It is different to customers and identical to organization. Service instead of a product, we need to realize that companies are intangible, therefore it might be a bit more difficult for market customers. When someone buy a product, he or she has something that they can actually put hand on, which might be physically seen and even it really is tested before invest in buying it. Providers are a lot more customized. Services are more complicated and it cannot be offered any one, and it is needed special knowledge selling and buying process. When any organization providing service they need to more concern about potential customers, and in addition service organization is long haul because they need to provide continuous provider to customers. As illustrations: Telecommunication organization, Education firm, transport sector and etc.
When considering variations service and products, it is common for both of consumers and organization hence answer for above question is yes.
C. ) International advertising differs from domestic marketing with reference to London 2012.
International marketing mean it is exceed the political barriers, time it will be one country plus some time it’ll be more than one country or worldwide. But domestic advertising locate to political boundaries. If any organization must go international market it must concern domestic region regulation and entering country or countries regulation. In related to 2012 London its advertising is required to concern both domestic marketplace and international market. Marketing strategies for both market could be differ, because external and internal elements are change from domestic market and overseas market.
When one company applies their promotional technique, its international strategy may be differs to domestic country strategy. Because each country political, legal, economical, interpersonal, Environmental and technological factors are differ, so client requirements happen to be differ with these exterior factors. Finally Domestic marketing strategy and international online marketing strategy are needed separately implemented, but it isn’t always differ plus some time it could be same.
As an example McDonalds has separate online marketing strategy in India comparison to London
Olympic is massive event in world, it is world participate function and whole world turns into a one village for just one ambition. With this celebration, more people migrate to London and others people are indirectly take part with media. More migration brings about increase London people and identical to more money comes to London, therefore it creates new marketing opportunity in London and in UK. Proper marketing plan is very important to achieve marketing goal of London 2012. Currently government and exclusive sector has invested more income for the various assignments and improvement infrastructure facilities. Especially Stratford location infrastructure services are being improved upon. At finally they need to harvest profits of this event with successful marketing strategies.