CASE STUDY

Marketing Led Approach

Abstract

This report provides the complete overview of the problems that are faced by Mrs. Rice in the case. The case has highlighted various weaknesses of Mrs. Rice as she is unable to manage her hairdressing saloon effectively. The report is divided into different tasks to enable the reader in understanding various marketing principles. The problems of Mrs. Rice are explained in the task form. The report will help the reader in understanding the importance of marketing activities.

Table of Contents

Discussion6

Task 1:6

Cost leadership Strategy6

Task 2:7

Strategy to maximise customer base7

Task3.9

Pricing9

Task4:10

Need for Advertisement10

Task 5:11

People and Process and Physical Evidence11

Task 6:11

Difference between Consumer Market and Organisational Market11

Market Characteristics12

Products Purchased12

Buying Process12

Task 7:13

Service13

Characteristics of Service14

There are mainly five major characteristics of service. Those are as follows:14

1.Intangibility14

2.Perishability14

3.Inseparably14

4.Non-ownership14

5.Variability14

(Perishability14

(Intangibility14

(Variability15

(Inseparability15

(Non-ownership15

The Elements of Marketing15

1. Research16

2. Strategy16

3. Planning16

4. Tactics17

Task8:17

International Business Cultural17

McDonald's:17

Burger King:18

Self -Evaluation18

Conclusion19

Marketing Led Approach

Introduction

This report is on a case study, in which Mrs. Katie Rice is depicted as a sole proprietor who is running a hairdressing saloon named as “beauty not expensive”. She was getting customers from her existing customers' referrals and she was mainly relying on it only. She was not using any other medium for advertising her business like media ads, e-marketing etc. The problem was this that she was unable to even payback her saloon's rent. The area has the potential for major growth in hairdressing saloon due to the latest events and happenings in the locality. But due to the bad financial condition and lack of business management skills she is almost losing her position in the market.

She is still having enough customers that they have to wait for a longer period of time as she is the only one to serve the customers. She has not hired any workers due to her tight financial condition. This is the reason that she is not having latest hairstyling equipments and other latest instruments. This report will help Mrs. Rice in managing her business effectively and in building strong customer base (Keller, 2001, pp.19).

Mrs. Rice does not know about the specific marketing techniques that is why she is suffering from various problems in retaining and generating new customers. Other thing which she has to overcome is her business handling way. She is only thinking about her short term goals though she should go for making long term goals for her hairdressing saloon's business.

Discussion

Identification

Task 1:

Cost leadership Strategy

By this strategy a company goes for managing the lowest distribution and production costs to offer much lower price for the customers as compared to its competitors. In this way the company can gain larger portion of the market and will be able to form a strong customer base. This generic strategy requires less marketing efforts so it helps in saving the major marketing costs. Mrs. Rice should follow this strategy as she is unable to bare heavy marketing expenditures. 

Differentiation Strategy

This strategy allows the business to keep the quality and performance of their produced benefits for the customers in a unique and distinctive way to gain the larger portion of ...