The scenario of this report determines that the family of small business as Bovis Cafe and Restaurant has no idea that how they can develop their market share. In this regard they require to develop an understanding of marketing concept and information related to this by considering:
- Determine the concept of marketing by considering different tools and techniques related to this.
- Provide a discussion that determines customer and market of Bovis Cafe and Restaurant.
- Discuss the concept of e-marketing and analyze how companies manage their online image.
- Design and application of market analysis techniques in the context of Bovis Cafe and Restaurant.
Marketing is said to be an activity that are related to buying and selling process of a commodity. This process mainly includes advertising and selling products to its end customers. A small family business that is taken in this assignment is Bovis Cafe and Restaurant. From this report, researcher will get to know about the concept of marketing so that company can implement this in their future proceedings (Wymer, 2011). Furthermore, process of market research is explained so as to know the aims and objectives. Lastly, implementation of marketing techniques in a company is included in this assignment.
1.1 Diverse activities carried out in marketing department
Marketing is a process through which company tries to promote their activities and also maintain a relationship between customers and organisation. Thus, its prime goal is to make the product reach to every single person so that they can buy their commodities. Marketing department plays an important role in in increasing its sales and profitability. It helps an organisation in establishing the business in an effective manner. Following are some of the points which marketing department perform in order to improver their profit:
Build a relationship with audience: By creating awareness amongst customers and by delivering best quality products company will be able to establish a better relationship with its consumers. This will attract a large number of clients towards company as a result it will increase their sales (Suvarna, Layton and Bancroft, 2012).
Involvement of customers: This segment try to engage customers by manufacturing goods as per their choices and preferences. For this, company monitors current market scenario so as to know level of competition and formulate strategies and ideas accordingly.
Generate income: This is the prime activity that every company establish their business so that they can generate ample amount of money in given speculated time frame. Therefore, firm perform all their activity just to increase their customer base.
1.2 Market segmentation as a tool
Market segmentation is stated as a concept under which buyers are divide into groups or segments, so that company can fulfil common needs and responsibility. This enable organisation in targeting customers of different segments (Hodge and et. al., 2011). Furthermore, market segmentation is done according top the targeted groups after identifying the choices and preferences so that they can gain maximum benefits. Basically it is can be classified on the basis of age, gender, income, psycho-graphically and social class. Therefore, it help assist organisation in attaining objectives and aims in better manner. For example: as small business that has been taken in this assignment is operating its business in local area so they are manufacturing goods according to the choices and preferences of people living there.
Henceforth, for improving the sales Bovis Cafe and Restaurant is considering all the factors that are available in the market area. They are giving best quality coffee products to its customers who can enjoy the products they are offering (MacKenzie, Podsakoff and Podsakoff, 2011).
1.3 Marketing Mix
Marketing mix is a famous concept that is used by most of the companies and it was first given by E. Jerome McCarthy's and he has classified into 4Ps i.e. product, price, place and promotion. Therefore, entire planning depends upon the nature of the market area and what kind of planning firm wants to follow. They are basically famous for coffee products that are made by them. Further, classification of marketing mix is explained below:
Product: This mainly focuses on the products that are required by customers so, company try to manufacture goods as per needs and wants of consumers. In case of Bovis Cafe and Restaurant, as it is a coffee shop so their prime duty is to give excellent quality products and they are selling the excellent brewed coffee of that place by adding some exotic flavours in it.
Price: This is an important aspect that is to be considered and it is determined as cost which customers are agree to pay. In context with Bovis Cafe and Restaurant, they have fixed a reasonable rates for the products they are offering and for this, they have done research for the same in order to know the nature of people present in particular area (Caywood ed., 2012) .
Place: This refers to an areas in which products are to be delivered so, it is essential that a proper research of the place is done. In case of company, they are providing quality products to their premium customers. Therefore, their outlets are available in various locations and customers can purchase whatever they want to buy.
Promotion: According to the current market scenario, various kinds of tools and technologies are available in market area. In order to promote activities Bovis Cafe and Restaurant are opting different marketing and promotional skills so that they can attract a large number of people (Tapp and et. al., 2013).
2.1 Aims of research and market analysis
Marketing research is considered as an analysis with the help of which company design and plan their activities. Therefore, it helps them in selling excellent qualities to its consumers and it is increasing its sales and profitability. Thus, the main aims of marketing research is for attaining goals and these are as follows:
- To provide basis of proper planning.
- To minimise marketing cost.
- To identify new markets for products.
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