Question :
A research proposal is required to be made on the topic “influence of technology on consumer decision making in Travel and Tourism Sector”
- Make a research project outline by considering a case study of Thomson.
- Explain different factors that have a contribution in the selection of research topics.
- Critically review key references and write specifications of the research project by considering Thomson.
- Develop a plan for working on decided research specifications.
Answer :
INTRODUCTION
Marketing is important activity which is required to carry on continue basis to develop their market share. The main aim behind the use of marketing tools and principles is to improve the sales of their products and services through satisfaction of the demands of customers. The four basic principles of marketing includes product, price, place and promotion. It is important for manager of company to consider all these principles while formulating marketing strategies to attain long tern sustainability. Fresh and Food bakery conducts business operations in London, UK (Batini and Scannapieco, 2016).
In the present report explain about, concept of marking along with functions performed by marketing department, segmentation of market, application of marketing mix, aim of research and market analysis, market research methods and market analysis tools. Also, e-market products, analysis of techniques used to research target market and presentation of findings to marketing team.
TASK 1
1.1 Marketing and functions perform by marketing department
Marketing
It refers the activities which are carried by organisation to promote the sales in improvement of their revenue figures. The different types of activities which are performed under this includes development of product as per customer demand, determining effective price of products, selection of best distribution channel and use of promotional strategies to spread awareness among the individuals of target market.
In this regard, Fresh and Food bakery is need to provide bakery products as per the taste of customers and for promotion uses slogan to create unique identity.
Functions carried out by marketing department
There are many activities are performed by marketing department in organisations for improvement of their market share and attaining higher position in market. Fresh and Food bakery is family business which is running from 6 months of time period only. To attract success necessary to gather information about different marketing functions defined below:
- Market research: Marketing department is responsible to carry research to clearly understand about the preferences and wants of customers. Through this new market opportunities are identified and products are created as per the specification of particular niche market.
- Formulation of market strategy: Here strategies are developed regarding how products are promote in market to improve their sales figure and attaining competitive advantage.
- Customer relationship management: It is the duty of marketing manager is to collect information from customers of organisation to identify their satisfaction level. It is used further to bring changes and gain their trust and support.
1.2 Market segmentation
It is effective tool which helps in identification of customers which prevails in different target market. This will includes the process of segmenting market into different groups on the basis of some type of common characteristics and features. Fresh and Food bakery which has business operation in London need to classify market to cater the requirements of diversified customers.
Demographic segmentation: It is most widest type of market segmentation which helps to determine number of individuals consume their products. In this segmentation population divides on the basis of variables such as age, gender, family size, income, occupation, race and religion.
Behavioural segmentation: This will includes segmentation of market on the basis of behaviour, usage and decision making pattern of individuals. It helps in determination of their actual preferences (Bishop, Fody and Schoeff, 2013).
Psycho-graphic segmentation: It is the segmentation of market on the basis of their lifestyle, activities, interests and opinions. Here, more focus is provided on psychological aspects of consumer buying behaviour.
Geographic segmentation: It includes division of market on the basis of different locations and geography. Needs of customer are differ in different locations.
1.3 Marketing mix
It is a tool which is mainly used by the organisation to accomplish their marketing objectives. Here, Fresh and Food bakery is need to make decisions about product, price, promotion and place.
Product: This includes the description about different offerings of organisation in market. Need to provide products as per current demands. The different products provided by Fresh and Food bakery includes cake, pastries, biscuits, cookies etc.
Price: Here, includes the activities related to deciding up of their pricing policies as per the spending power of customers of target market. Fresh and Food bakery is small family business need to fix reasonable price.
Place: This will includes about distribution place from where products are distributed in market. Fresh and Food bakery having their shop in London near tourist destination
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