The first section of the project deals with the short introduction of the case study. The case study is all about TSL which is family owned business dealing with spare parts of vehicles. The next section of the project deals with…
Download file to see previous pages...
There is a detail description of the objectives that TSL is having. Objectives are goals for the organization. Also, the paper encapsulates the strategies as well as the action plans that must be implemented for effective operation of the company and to beat competition. Last but not the least financial figures have been analyzed in order to understand the company’s performance. The research paper ends up with a dedicated concluding section.
Triumph Spares Limited (TSL) was established in the early 1980, as a small family owned business. The company deals with spare parts and the business is run from two sites, one is the factory and the other is the small shop. The factory deals with the spares that are assembled from subcontracted components. The prime stakeholders of the company are Mr. and Mrs. Brian Smith who are the main owners of the company. In the early 1990s, TSL developed mail order business in United States. From the very day of commencement of the business, it was found that TSL was successful in building strong reputation by providing quality spare parts. The license for preparing the spare parts was obtained from Standard Triumph Ltd (Triumphs, 2008).
There has been steady growth in the business of TSL from the day of its commencement with turnover of £ 4000000. The profit margin for TSL is estimated to be 50% for those who buy in bulk from the factory. Triumph Spares Limited provides spare parts to other shops as well as commercial car restoration businesses. On the other hand, the profit margin for TSL is expected to be 100% for those who buy from the shops. The shop provides spare parts to small commercial purchaser and to the general public. The company turnover follows Pareto rule, where 20 % of the turnover comes from the shop and 80 % of the turnover depends on the factories direct sales. Although the main customers for TSL are Classic Components, Spare Parts, Classic Spares, and Spare Shops and Add
...Download file to see next pagesRead More
Cite this document
(“Marketing Essay Example | Topics and Well Written Essays - 2000 words - 30”, n.d.)
Retrieved de https://studentshare.org/miscellaneous/1568956-marketing
(Marketing Essay Example | Topics and Well Written Essays - 2000 Words - 30)
“Marketing Essay Example | Topics and Well Written Essays - 2000 Words - 30”, n.d. https://studentshare.org/miscellaneous/1568956-marketing.
A marketing concept embraces the philosophy that good marketing strategy always has the needs and wants of the target market in mind. Marketing concepts are formed as creative approaches to the problem of how to get a product needed and desired by a group of consumers to be selected and purchased by this group.
The Marketing Teacher (2000) cited Barwell to expound on the term by indicating that “the marketing concept is a philosophy, not a system of marketing or an organizational structure. It is founded on the belief that profitable sales and satisfactory returns on investment can only be achieved by identifying, anticipating and satisfying customer needs and desires” (Marketing Teacher, par.
Hence marketing becomes one of the most crucial aspects of a business. Kotler et al (2007:7) has defined market as ‘a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others’.
The guerilla marketing campaign of the T-Mobile company was run for five consecutive months by sponsoring near to 25 events in the local festivals, state, and county fairs. T-Mobile has very well comprehended the importance of such marketing initiatives for the company’s success by activating 5,000 new accounts at such events and organizing more than 26,000 “Mobile Makeovers” (Chipps 1).
This is because the objectives of the issues involved can have resemblance. Whether large or small, most marketers if not all, always struggle to meet customer requirements and at the same time meeting their own commercial and marketing objectives. The marketing planning process needs the harmonization of open- based decisions at the peak of the commercial level with more closely distinct actions at the bottom.
It is in this reason that the proponent of this paper tries to gather information about the basic concept of marketing and the probable impacts of internet on the dominant logic of marketing. Considering that the traditional-based marketing has