Marketing principles

LIST OF CONTENTS

TASK 1. MARKETING PRINCIPLES .......................................................... 4

TASK 2A P.E.S.T. ................................................................................................ 14

TASK 2B PORTER´S FIVE FORCES ........................................................... 17

BIBLIOGRAPHY............................................................................................... 21

TASK 1. MARKETING PRINCIPLES

The chosen organisation is the Irish Pub “O’Neill’s”. It is located in the heart of “The City,” the most important business point of London.

Then the marketing principles will be applied to this company.

“Marketing is managing profitable customer relationships. The twofold goal of marketing is toattract new customers by promising superior value and to keep and grow current customers by delivering satisfaction.” (2008 Kotler P. & Armstrong G.)

I) Understanding customer needs

It is necessary the knowledge of our clients focusing on their needs and desires. Thus, we will offer a good service and we will achieve their satisfaction, which will be obtained giving to the customer morethan they expect.

The organisation needs to understand:

- The age of the population.

Customers who come to the bar are people who are employed at the offices around. They can be classified into three types:

o Customers between 25 and 40 years old who attending at the lunchtime and after 5 p.m. because we have cheap prices.

o Customers over 40 yearsold who use to spent the afternoon in the pub with their colleague after work (after 5 p.m.).

o Senior officials of the companies who spend all day in the bar less at the lunch time, because they go to a proper restaurant.

Most customers are Irish and British.

Given these characteristics of the population, the products offered are cheap food and drinks in a friendly environment.For example, Irish burger for £3.99.

- Taste and preferences

In the pub, there are two types of customers in terms of preferences:

o There are people looking for the cheapest price.

o And the most customers seek the best relationship between quality and price.

The pub does not have customers who seek the highest quality regardless of price.

Theclients of O’Neill’s are looking for a more relaxed and informal atmosphere not found in luxury restaurants around and a warmer environment than fast food companies as "EAT" or "Pret and Manger" where there are not a place to eat or chat with colleagues.

- Income

The income level of the customers is quite high. Their jobs usually consist of bankers, mangers in different areas, etc.There is also the group of 25 to 40 years old, which incomes are lower but they are still high if it is compared with the average of a worker in London.

O’Neill’s seeks the satisfaction of clients offering, a wide variety of products of medium quality with a great atmosphere and good customer service. If the satisfaction of the customers are exceed of their expectations, the loyalty ofthem will be obtained.

II) Keeping ahead of competition

The organisation must manage the effects of change and competition by:

- Introducing new products

The company is always trying to get new products to mark a difference with the competition. For example, the company has a huge number of customers who like cider. When “Magner,s” lunched to the market the flavour “Pear” thecompany quickly added this product to its stock.

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- Advertising

The most common methods for advertising are newspapers and Internet (website and Facebook). The pub is located in “The City” and the majority of the customers read the newspaper on the way to work and home and they normally use...