Marketing Management Essay Example | Topics and Well Written Essays - 2000 words

Marketing Management - Essay Example Successful organizations tend to such things and hence positive results follow. The organization that I have chosen is TESCO, which is a well diversified company working in many different ventures and has created a great deal of value in the eyes of their customer. Tesco’s Mission statement and Aim The mission that Tesco wants to achieve is ‘creating value for customers, to earn their lifetime loyalty.’ Tesco holds values which give priority to the customers, their wants, requirements and expectations. It sets principles which motivate innovation and strategies to initiate programs and introduce services which the loyal customers expect to have. Tesco believes in the principle, ‘treat people how we will like to be treated.’ It emphasizes an organizational environment where respect, mutuality, collaborative work and sharing is highly regarded. It provides clear aims of satisfying customers and the employees are given guidelines on achieving these aims (Tesco plc). Marketing Mix – TESCO The main function of marketing is to satisfy customer need profitably through an appropriate marketing mix. Marketing mix comprises product, price, place, promotion. Marketing mix is an important and strategically important concept. The 4P’s element in the marketing mix act substitutes for each other, hence they must be integrated e.g. higher quality of any particular product would lead to higher selling price being sought for it (Sandhusen, 2000). TESCO marketing mix in USA under the Fresh and Easy title is; Product Product element shows the product that a particular company is about to sell. TESCO, entered the USA market with a business well diversified from their core activities, under the brand name of Fresh and Easy, TESCO opened up a grocery store to sell up grocery related products, proper branding was done under the Fresh and Easy label to make customer aware of the presence of a different brand. Fresh and Easy was not profita ble initially when it was launched in 2007 in the U.S.A. later on it provided favorable results and it is expected that by the mid of year 2010 it would turn around as a good profitable venture. Price TESCO approached an aggressive pricing strategy to grab its market share. It went on to give its customers ready meals i.e. selling high value meals at fraction of the normal cost. This pricing strategy would be considered Penetration Pricing i.e. to charge lower prices than that of competitors to achieve early market share. Place Place deals with how product is distributed and how it reaches its final customers. Fresh and Easy had to absorb heavy distribution cost as they had to build their own independent distribution channels. Logistics are an important feature as they determine the efficiency of the distribution system i.e. a warehouse close-by would make it easy and fast to make the product quickly available for the customer. Promotion Promotion is one factor of the marketing mix over which a company usually enjoys greater control. Promotion helps in increasing the knowledge and know-how about the product within its customers. Fresh

Extended Service Encounter Reflective Journal Essay

Extended Service Encounter Reflective Journal - Essay Example The term ‘service encounter’ refers to ‘the contact situation between service customer and service firm when the service is being created’ (Se? Ler, 2009, p. 4), and as such is ‘one of the most central and controversial concepts in the service marketing literature’ (Grillmair, 2008, p. 4). The service encounter is important because customer perception is created by their most vivid impression of the service that takes place during the service encounter. There are three types of service encounters: episodic, consisting of a single occurrence producing a single revenue stream for the business, and a defined service duration; extended, which consists of an episodic service encounter but allowing for multiple service types; and continuous, which consists of multiple occurrences with multiple revenue streams, with an undefined service duration, multiple episodic or extended service encounters, and a relational exchange focus (Hume & McColl-Kennedy, 1 998). In this discussion, the aim is to create a diary of service encounters in the course of an extended service encounter. ... ement product requiring intimate participation of the customer in the process); (2) the pleasantness or unpleasantness which the customer felt for the duration of the service encounter; and (3) the lasting impression derived by the customer from the encounter. While it is true that all of us react to service encounters, not all of us react in the same way because of differences in cultural backgrounds, psychological make-up, and personal circumstances that make each of us unique (Grillmair, 2008). Therefore for the purpose of this study, there will be no better subject than this writer, to describe the feelings and impressions garnered during the exercise. I shall provide a service encounter journal of an experience I myself had undertaken, describing actions, thoughts and feelings that shaped the service encounter. Thereafter, the journal entries shall be analysed on a per-event basis, to break down the service encounter experience and later integrate them into a holistic account of what it takes for a customer to be satisfied. 2. The Service Provider Days Hotel is a popular chain of hotels that has established a global presence. Noted for its ‘affordable luxury’ and ‘ambience of carefully cultured elegance,’ the hotel is pleasantly appointed, unpretentiously four-star, and makes one feel at home with a modest kind of comfort. This local subsidiary is a take-off from its parent company, Days Inn of America, but it has evolved into an establishment that embodies both the warm hospitality of the locality and the service quality for which the brand is known. The company slogan is: â€Å"We make your day.† This is apparently a witty use of the word ‘day’ which comprises the hotel’s brand, while at the same time conveying in a simple and straightforward manner