I am carrying out a SWOT analysis on "Essential Waitrose Still Natural Mineral Water".
Product:
"Essential Waitrose Still Natural Mineral Water".
Price:
40p
Place:
Top shelf.
Promotion:
Waitrose would promote their own brand with cheap prices, quality and loyalty.
Strengths:
It's cheap.
Loyal to the shop.
Available in different sizes.
The packaging is Recyclable.
Available in different styles; still and sparkling.
It's British.
Weaknesses:
It's not part of a well-known brand, this could put people off.
It's only sold in Waitrose.
Not as many people shop in Waitrose as they do Tesco and ASDA etc.
Opportunities:
Possible create flavoured version.
Competitions or promotions.
Ethical promotions.
Lower price.
Better image.
Threats:
Competition, such as; Evian, Volvic etc.
Chemicals.
Natural disaster on the source of their water.
I understand that companies and organisations carry out a SWOT analysis for analysing their resources and environment. Along with this, it's used as part of a businesses marketing plans to understand their target market and opportunities. A SWOT analysis can be used on individual products or a organisation as a whole. Not only are they used at the developing stage of a product but throughout it's whole lifetime; this helps them find out wether they have succeeded or failed in creating this product.
Marketing is a process that every company goes through when raising awareness about a certain product they have created. Marketing has many aspects throughout the collective term; such as advertising, viral and "word-of-mouth" - along with this, they have to consider the price, design, packaging and use. Furthermore, branding is a part of marketing; this involves creating a constant theme throughout a product line, this helps towards brand loyalty and reputation. In addition to this, they have to carry out marketing research; this means building a relationship with the public - similar to PR - then finding a gap in the market, competition and if there is a need for the product. For example, Apple's products follow a constant theme which is known worldwide.
iPhone 4 iPhone 3GS
What is involved in a marketing campaign?
A marketing campaign has to start with marketing research; this includes finding gaps in the market, looking for competition - this links to finding a need for the product. For example, if a company were creating a new mobile phone, they would have to look at the latest releases from other companies to find out what they can bring to the public which they haven't already received; also, if another company has a similar phone, most consumers would buy the product from a trusted company such as Apple; this links to brand loyalty and reputation. This means many costumers would buy from a well known company, knowing a lot of people have done the same before them; instead of trying something new with the fear of disappointment. Marketing research would also include questionnaires to find out what the public want and how much they are prepared to pay for it. Furthermore, the campaign would involve events, such as launches of the product, free trials, "meet & greet" and competitions. In addition to this, a marketing campaign would create advertising material; for example, leaflets, posters, TV adverts, flyers and radio broadcasts - these are known as the traditional advertisements. There are also innovative advertisements, these include flash mobs and viral marketing. A good example is when Liverpool Street Station take part in a flash mob to advertise T-Mobile.
What is PR?
PR stands for "Public Relations"; this is a company's relationship with the public. PR not only provides a good relationship between itself and the product, but between employees and customers, along with the community. In addition to this, celebrities need PR to create a bigger fan-base or improve their reputation. For example, Kerry Katona took part in Celebrity Big Brother to show the public she has changed her life for the better. Along with this, some companies give out free trials for the consumers to try, this begins the "word-of-mouth" chain - also, it draws people in to try the product after a good experience with the "freebie" or brand. Unlike marketing, PR tries to get the product tried, tested and in the public eye; via "freebies", press releases and conferences.
Kerry Katona in Celebrity Big Brother
What is more important, the product or marketing?
I believe that they are just as important as each-other; one cannot survive without the other. With this in mind, marketing lets the public know about the product in every way possible, in the hope that it persuades them to buy it - without this, the product would be useless. On the other hand, if no product is created, there is nothing to market. So although they both rely on each-other, I believe that marketing is more important as products are constantly being made; there will never be a time where nothing new is created, this is where they need marketing to get their sales.
