FACULTY OF BUSINESS, COMMUNICATION AND LAW
FUNDAMENTALS OF MARKETING
STUDENT NAME: Lor Yu Xuan
STUDENT ID NO: I18016087
LECTURER: Miss Umi
Introduction pg 3
Marketing Environment pg4
Micro Environment pg 5
Macro Environment pg12
Evaluation of challenges pg19
right24765000Innovation and idea pg20
7 Up is a brand of lemon-lime-flavoured soft drink and it is currently owned by Pepsico.7 Up was established in1929.7 Up have many factories all over the world, it is very popular and can be buy in the market. Nowadays, there have many kind of soft drinks in soft drinks industry, all of the product have their own strength, these forces 7Up created new challenges and get more competitors.
The organization have their own marketing environment, it forces the organization to develop and maintain successful relationships with their target customers.
Marketing environment have two type to affect company’s operation, Micro Environment and the Macro Environment.
-22860484505Micro environment consists of the actors close to the company that affect its ability to serve its customers.
00Micro environment consists of the actors close to the company that affect its ability to serve its customers.
All departments within an organization have the potential to positively or negatively impact customer satisfaction. As a result, a marketing department works closely with the finance, purchasing, research and development, and manufacturing departments, among others, to identify ways that each department can contribute to the provision of exceptional customer value, which leads to superior customer satisfaction.
The company relies on suppliers for supplies other production factors, such as labor, utilities and equipment required to produce and deliver a product to a customer. A marketing department formulates its marketing strategy in light of these risk factors.
Marketing intermediaries help the company to promote, sell and distribute its goods to the users. Organizations typically rely on banks, venture capitalists and other sources to finance operations; wholesalers and retailers, warehousers and transportation companies to distribute goods; and advertising, market research firms and public-relations firms to market their products.
Most of the children and teenagers like to drink soft drinks , they are the company’s target customers. The products also can sell to reseller markets to resell at a profit. The customer factor of a marketing microenvironment can be further divided into business and institutional customers and state, city and municipal governments customers. Marketing specialists, or marketers, develop and market messages to appeal to a company’s individual customers’ needs.
Some of the buyer come from various countries, including consumers, producers, resellers, and government, it can get more profit.
The company must gain strategic advantage by positioning their offerings strongly against competitors’ offerings in the minds of consumers. No single competitive marketing strategy is best for all companies, the company must keep have a new idea or new products to strongly compete against the competitors.
The company and the products need to make a good image to attract public buying the product, and the consumers will keep buying the products. The company can makes some interesting advertisement to attract the media publics.
Macro environment consists of the larger societal forces that affect the micro environment.
Soft Drinks is suitable for the children and the teenagers. 7Up targets its different sizes according to customers of different age groups and occupations. 7Up have different flavors to attract different types of people.
Nations vary greatly in their levels and distribution of income, the products should have different price for their customers, and the price must be fair to every customers to let them buy the products.
All of the companies increased pollution of natural resources in the process of production and there are growing shortages of raw materials. The company should decrease the pollution for the future plan. Company must developing strategies that support environmental sustainability.
Beside business, company should recognizing the link between a healthy ecology and a good economy.
Technology is the most powerful thing to change the marketplace. New technology can develop new product and create new product and opportunities.
Company Management also need to keep concern for safety of new products.
7Up is not usually affected by government regulations and deregulations as no changes occur in the food laws. Sudden changes in political conditions in a certain country doesn’t effect much on 7Up, as it is a purely consumer product.
The beliefs and value are passed on from parents to children. If the parents think the product is good, they will let their children try the product too.
Evaluation of the challenges
As a company, 7Up face a lot of challenges and obstacles. Company management always need to think many ideas and choose the best one to produce the products. If the products can’t attract
the customers, it will loss many profit and let their competitors get the profit from it and the customers also like to try new product.
The natural resources is also one of the challenge for 7Up, the materials are growing shortages, it might cause the products can’t be produce successfully.
Innovation and ideas
The company can release a brand new flavour to attract the customers.
Company can do the market survey to ask the customers’ suggestions to improve the products
A good advertisement also can attract the customers to buy
Setting the fair price and do promotion
The organization have their own marketing environment, it forces the organization to develop and maintain successful relationships with their target customers. Company must keep improve the products to against the competitor. The marketing environment is the element of success to the company.