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milan
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it is all about where is the service being delivered. Physical Evidence is the element of the service mix which allows the consumer again to make judgments on the organisation like If you walk into a restaurant your expectations are of a clean, friendly environment.or other example is on an aircraft if you travel first class you expect enough room to be able to lay down! Physical evidence is an essential ingredient of the service mix, consumers will make judgement based on their sight of the service provision which will have an impact on the organisations perceptual plan of the... Continue reading
Posted Jan 12, 2010 at milan's blog
Process: Process is associated with customer service and they are number of process included which will give them feedbacks of how business its doing and can even help improve the business more like finding out customer needs and later providing them with sufficient needs of customer on a particular product, e.g. processes for handling customer complaints, processes for identifying customer needs and requirements, processes for handling, booking, control, payments, procedures. For first direct have a unique way of connectingand communicating with their customer they do their usual banking throught the means of e-marketing internet, telephone etc so processing is a... Continue reading
Posted Jan 12, 2010 at milan's blog
People: people are quite important factors as well because they are the one who delivers services, promotes and sells products; good service quality of an employee is a skill of customer services. Customer service is a vital factor for modern day business to promote their business and expand profit because Customers are likely to be more loyal to business which provide them with good service if the business and its employees have good relationships then they can work together and help themselves a lot they can get more customer and expand their business, earn the amount of profit. people plays... Continue reading
Posted Jan 12, 2010 at milan's blog
Place: place is as important as any other factor mentioned it plays a very vital role in running their business properly and is also a very important factor in marketing mix. place is about considering where and to whom you sell your product must also including who your target audiences are and which niche of the market you are aiming for. The quality of the product will help determine who your target audience is and where you should place your product. There are many different ways in which you could distribute your product and the right placement is the key... Continue reading
Posted Jan 12, 2010 at milan's blog
Promotion: promotion is the way on getting the product to the market and communicating it with the customer it factor will include how it is described and represented to the public. Promotion is very important factor for a business when they are selling any kind of product. Promotion is about making public or the customer aware of when they are launching the product because without any awareness the public wouldn’t get the chance to review the product thus the business cannot make enough profit without advertising it. There are many ways of available such as media to gain public attention... Continue reading
Posted Jan 12, 2010 at milan's blog
Price: price is offered to match the on the cost of the customer like how much they will pay for it and it is also made to match the competitive prices on how much they increase or decrease to get more customer buying their product . Price is one of the most important factor for the customer because they buying two identical they would more likely want to buy the cheaper one offering such as buy one get one free might be offered to attract more customer on their side. The price of the product is not only the factor... Continue reading
Posted Jan 12, 2010 at milan's blog
Product: product is anything that would make a customer happy and satisfied Product excides the features and includes benefits of the particular one, it also includes how it’s packaged, the style of the product like way it looks like and other further extras stuff such as guarantees and warranties. Products are designed to match the needs of the customer or cuonsumer. · Features · Optional Services · Product Quality · Staff Quality · Style · Brand Name · Packaging · Parking · Scenic Beauty · Guarantees product is the most important factors in 4ps for any business to run sucessfully,... Continue reading
Posted Jan 12, 2010 at milan's blog
Any business which would want to be successful have to consider seven ps · Product · Price · Promotion · Place · People · Process · Physical evidence Continue reading
Posted Jan 12, 2010 at milan's blog
INTRODUCTION: FIRST DIRECT is a division of the HSBC Bank. It provides a range of banking services, offering customers products such as current accounts, credit cards, savings accounts, insurance and loans. What is different is that first direct does not have a branch network. Customers access services over the internet or by telephone or through mobile phone banking services and text messaging. first direct has been providing online banking services for almost 20 years. It now has more than 3,000 employees and 1.1 million customers. Over 80% of transactions use the online channel. For customers that wish to contact the... Continue reading
Posted Jan 12, 2010 at milan's blog
Planning control and evaluation process: Planning control and evaluation process is a "living document", and one that will give you a means of rating performance in key areas, critical for success. Metrics can be financial and non-financial. The financial will cover: sales targets and trends, profitability, ratio analysis (e.g., liquidity, return on capital employed, etc.). The non-financial will cover aspects such as: customer satisfaction, market share, innovation, complaint levels, benchmarking, etc. Usually there will be a mix of both sets of metrics. The purpose of evaluation and control is threefold: Targets are set to measure performance Performance is monitored against... Continue reading
Posted Jan 12, 2010 at milan's blog
Branding: is the "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers. Therefore it makes sense to understand that branding is not about getting your target market to choose you over the competition, but it is about getting your prospects to see you as the only one that provides a solution to their problem. The objectives that a good brand will achieve include: · Delivers the message clearly · Confirms your credibility · Connects your... Continue reading
Posted Jan 12, 2010 at milan's blog
Relationship marketing: concept, lifetime customer Relationship Marketing involves using methods and skills to make a long term relationship with customers in order to retain them. The business keeps a relationship with its customers so they can have a long lasting relationship through out the customers life, relationship marketing really helps the business because the business can get more customers and persuade their customers. An organisation must exceed customer satisfaction in order to retain them and develop a healthy relationship with their customers. first doesnt links to relationship marketing beacuse i think first direct is really intrested in customer life and... Continue reading
Posted Jan 12, 2010 at milan's blog
E-Marketing: is the management process through the use of electronic communications technology. It uses the internet for marketing a brand. E- Marketing is one of the easiest ways to set business and be very well known. This is online shopping or online retailing; it’s an easy and fastest way which saves the consumer’s time for searching the product on the high street. Branding: Branding consist of a set of activities undertaken by the seller of a product or service whose objectives are comprised in three parts: 1. improve its alleged value; 2. Unite certain attributes or merits with it in... Continue reading
Posted Jan 12, 2010 at milan's blog
P5 Market segmentation: is separating a market into separate groups of potential customers who share common characteristics and interests and who are likely to be attracted to particular products or services. Market segmentation is also separating the customers into different groups, and sometimes can split up into different age groups because different age customers are interested in different things from the business. Segmentation allows you to have different customers in different groups. first direct do segment some of their customer in some areas such as the age of the customer and through the income that customer earns, age and where... Continue reading
Posted Jan 12, 2010 at milan's blog
business such as tesco can use market reseach to understand behaviour of customer,competitor and the market information. they can collect this information through the use of focus groups,customer inteviews,questionares,teachnology-internet feedbacks,user groups, postal surveys etc. later they can process this information and have a use it to improve the customer wants and needs, to stay ahead of their competitors and also have a freindly relationship marketing environment with the customer. an example of a research would be focus gropus have identified more customer of tesco both poor and rich care about the standard of hygeine of tesco this is where they... Continue reading
Posted Jan 12, 2010 at milan's blog
Market research Uses and Limitations market research could be used for a number of purposes such as to identify market trends knowing what problems are in the market or what are succesful part of it. identify market segment knwoing what each groups such as old young customer interest what they are looking. identify competition what other market such as sainsbury,asda doing what are their usp and how can they improve their to make a better one. identify opportunities/gap in the marget seeing the what chances can be filled up whihc are missing in the business like replacing an old product... Continue reading
Posted Jan 12, 2010 at milan's blog
internal research internal reseach is research that is carried out within the organisation. it looks at the past data and new data collected by the orgabnisation is itself which is more accurate, easy and reliable to follow. whereas external reseach external research is a reseach which is carried out by some one outside of the organisation which is more expensive to collect and even harder to generate. Continue reading
Posted Jan 12, 2010 at milan's blog
primary research is a first hand research which is new information and is collected for particular purpose. it can be done by using means such as surverys, questinaresetc usually it is more time-consuming and expensive to collect. secondary research is research which is already collected it can be a overveiw of primary research data. it can be collected through the use of internet,books, newpapers etc and it is usually chepa and unreliable. Continue reading
Posted Jan 12, 2010 at milan's blog
There are two main types of market research that business have to carry out to find out customer wants and needs- one of the research that business follows is quantitative research this involves collecting a lot of information by using techniques such as questionnaires and other forms of survey to do business can set up their website where people can fill comments they can basically follow this research through numerical data. another qualitative research involves working with smaller samples of consumers often asking them to discuss products and services while they take notes about what they have to say. The... Continue reading
Posted Jan 12, 2010 at milan's blog
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Posted Jan 12, 2010 at milan's blog
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Jan 12, 2010