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Principles of Marketing - Case Study Example
One of your first tasks is to persuade senior managers at Bottle Brothers of the need for marketing information to improve the running of the business; make a list of the types of information that you believe would be useful for marketing purposes. Outline for two types of information how you would collect this information and explain how it would assist in marketing decision making.
With these features of hypercompetitive business arena, the role of marketing in the operation of the businesses becomes more pronounced. Marketing information can be efficiently utilized to cope with competition as well as win the patron age of buyers.
In the case of Bottle Brothers, the use of marketing information to adapt to the current business environment is imperative. The pressure from competitors as well as buyers necessitates them to seek for relevant information about their market. Looking at the company scenario, the marketing information which will bring benefit to Bottle Brothers include: customer information like buyer behaviour, consumer preference, perceived customer value, customer profile, and buyer receptiveness to marketing campaigns; competitor information like pricing, brand image, value chain and other strategies; trend in the external environment like technological advancement, cultural preferences, social trends, economic developments, political factors, and others.
This paper recommends that Bottle Brothers concentrate on two marketing information namely, consumer preference and marketing technology. ...