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P4 for Unit 12 *Correct Version*
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BTEC Business Studies Level 3 – Unit 12By Lewis Phillips Mr Beeton
Describe the benefits and opportunities to the business of using
internet marketing within the marketing mix of a selected business – P4
Opportunities to access customers and markets
When people register on the Tesco website, they will automatically get sent
special emails to them which gives them information about new products and
sales at Tesco straight away so that the customers registered with Tesco can
check the limited time offers and new products before anyone else. Tesco also
are able to put lots of fancy animations on their website so that their website can
look more appealing to their customers who want to buy a product form there
website. With the internet, Tesco also have the opportunity now to sell their
products online to their customers, which is easier for the customers because
they might not be able to make it Tesco due to them being busy.
Opportunities to improve availability
On the Tesco website, they select the language for the user automatically
depending on what country they are currently in so it is very user friendly to
people all across the world trying to access Tesco. Tesco also deliver to multiple
country’s that have Tesco branches in them due to the internet making this
possible. If a customer went to one of Tesco’s branches and wanted to get a
specific product and it was not in stock, then they could go on the website so
they can order the product online because they never run out of stock online.
Opportunities for business efficiency.
The increasing availability of the web gives businesses all kinds of opportunity’s
to speed up their interactions with suppliers and customers. In Tesco they have
the opportunity to communicate with their customers and suppliers by internet;
this is good because they can find different things such as advantages and
disadvantages from their survey that they put on their website and also their
reviews from the people that have visited their website.
Marketing mix
The marketing mix refers to the set of actions, or tactics, that a company uses to
promote its brand or product in the market. In this case I am going to use the 7Ps
strategy to see how Tesco uses the marketing mix to promote products on their
websites so they can make sales in which every private sector strives to do.
Product
The product must deliver minimum level of performance; otherwise even the
best work on the other elements of the marketing mix won't do any good. For
example in Tesco they must check that the products meet the customers’ needs
and wants. Also Tesco has to check the products it they are good or not, if the
products are good, they can sell it, but if the product is not Tesco must put it in
the bin because it can cause problems for the customers health and the
customers can cause problems to the company, but if the product is still a bit
usable, they can make a promotion and sell the product at a low price so
customers will be interested in buying the product. Tesco will make more profit
, BTEC Business Studies Level 3 – Unit 12
By Lewis Phillips Mr Beeton
from these methods because certain products that they sell will be cheaper than
other supermarkets in the UK that sell the same products as well.
When it comes to the pricing of products, Tesco always compare with other
supermarkets in the UK to see which is the cheapest so they can make their
products the cheapest in the country so they can attract all the customers while
at the same time still making profit with their cheap prices. It depends on costs
of production, segment targeted, ability of the market to pay, supply - demand
and a host of other direct and indirect factors. There can be several types of
pricing strategies, each tied in with an overall business plan. Pricing can also be
used a demarcation, to differentiate and enhance the image of a product. For
example: If Tesco want to put a price on a product they have to check how much
money they spend first, before creating a product.. Normally the companies put
25% more than they spend when the put the product on the market. Tesco also
get their resources cheap from their loyal suppliers so that they can make profit
on all of their products even when they put a reasonable cheap price for their
customers in order to keep up with other supermarket deals which might lure
their customers away.
Promotion
This refers to all the activities undertaken to make the product or service known
to the user and trader. This can include advertising, word of mouth, press
reports, incentives, commissions and awards to the trade. It can also include
consumer schemes, direct marketing, contests and prices. For example: When
Tesco wants to do a promotion they must to create advertisement or a word of
mouth, this way will help them to have more customers to sell the products. To
make a promotion they have to see which products will be selling by low prices
for example there are many different offers like buy one and get one free, or
sometimes they add one more product to sell that product, etc. This way they
will have selling the products that they want. The customers can also see the
promotions by internet where there are a lot of promotions. Tesco also use the
‘Television’ to their advantage, because they can advertise their products all over
the UK, however it comes at a price depending on what time they advertise their
products on television. Advertisements at peak times 5-7pm will cost the most
due to many people watching TV at that time.
Place
Refers to the point of sale. In every industry, catching the eye of the consumer
and making it easy for them to buy it is the main aim of a good distribution or
'place' strategy. Retailers pay a premium for the right location. In fact, the
mantra of a successful retail business is 'location, location, location'. For
example: When Tesco has authorised the products, they put the products in all of
their branches around the UK. Tesco have to place certain products that they
have in the right placers within the UK so that they can get the best possible
profit from all of the products they place in certain areas. For example: Tesco put
more Manchester UTD items within the Manchester area, because there are Man
Utd supporters in Manchester than there are in London.
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