Elements of marketing

Seminar paper from the year 2010 in the subject Business economics - Offline Marketing and Online Marketing, grade: A, University of Hertfordshire, language: English, abstract: After relocation ACL should consider conducting a market and environmental analysis to determine the nature and behavior of customers, level of existing competition , purchasing trends of the customers, operations of other competitors and the prepare a cost benefit analysis. Market and environmental analysis to determine if the competitors are providing differentiated products. ACL should consider gathering information on the level of loyalty that customers attach to the products and services. It will also be vital because they will familiarize themselves with the culture of customers and how other stable companies are able to maintain good relationships with the potential and existing customers. Environmental analysis will be vital for establishing their strengths and weakness which through these establishment opportunities can be secured and threats eliminated or avoided for the success of the company. Determining the needs of customers and their preferences in terms of quality of the product and its performance will be essential in ensuring that the company remains on top of others (Doole & Lowe, 2008). In its marketing process, it should consider fixing marketing targets. Identification of the customer base is essential since it will provide ACL with the clear framework on how to produce, distribute and provide after-sale-service to its customers. It will be able to understand the customers it is marketed products for. This will pave way for formulating better marketing strategies.