BSBMKG502B BULLAH B
Name: Brandon Banesely Bullah
Unit Code: BSBMKG502B
Unit Name: Establish and Adjust the Marketing Mix
Assessment: Task B – Case Study – 7 Eleven: Promoting a Branded Product Range.
1. Why is it important for 7 Eleven and Krispy Kreme to keep offering customers new products and flavours?
7-Eleven sees the potential of Krispy Kreme’s segmentation which their customers like variation in doughnuts flavours. Therefore, 7-Eleven continues to work with Krispy Kreme develop new rotational flavours in addition to the core range as part of their strategy to keep their customers coming back to try new flavours. Moreover, 7-Eleven sees an opportunity their offering as increasing profit by encouraging new customers to come to 7-Eleven stores to buy Krispy Kremes and also other products, and increasing the frequency of visits of existing customers.
2. What is the difference between advertising, marketing and PR? Provide definition of each according to your understanding and explain what each one aims to achieve?
a) Advertising – a method of persuading a target market audience to buy a product. Their goal is to find new and innovative ways of getting the message out to potential customers.
b) Marketing - the overall process of the marketing mix. Their goal is to plan the company’s promotion, right through from identify a product’s target customer, researching the market and setting a marketing budget to putting on product launches and evaluating the success of the campaign.
c) Public Relation – focuses on maintaining the good reputation of the company in the media. Their goal is to get their employees or clients noticed by the media.
3. Why is it important to set key performance indicators for new marketing and sales campaigns?
- It is important to set KPI in the organisation to ensure the employees is doing the right thing by measuring how well an organisation is achieving its stated goals and objectives. 7-Eleven and Krispy Kreme’s key important is to drive awareness of a
Unit Code: BSBMKG502B
Unit Name: Establish and Adjust the Marketing Mix
Assessment: Task B – Case Study – 7 Eleven: Promoting a Branded Product Range.
1. Why is it important for 7 Eleven and Krispy Kreme to keep offering customers new products and flavours?
7-Eleven sees the potential of Krispy Kreme’s segmentation which their customers like variation in doughnuts flavours. Therefore, 7-Eleven continues to work with Krispy Kreme develop new rotational flavours in addition to the core range as part of their strategy to keep their customers coming back to try new flavours. Moreover, 7-Eleven sees an opportunity their offering as increasing profit by encouraging new customers to come to 7-Eleven stores to buy Krispy Kremes and also other products, and increasing the frequency of visits of existing customers.
2. What is the difference between advertising, marketing and PR? Provide definition of each according to your understanding and explain what each one aims to achieve?
a) Advertising – a method of persuading a target market audience to buy a product. Their goal is to find new and innovative ways of getting the message out to potential customers.
b) Marketing - the overall process of the marketing mix. Their goal is to plan the company’s promotion, right through from identify a product’s target customer, researching the market and setting a marketing budget to putting on product launches and evaluating the success of the campaign.
c) Public Relation – focuses on maintaining the good reputation of the company in the media. Their goal is to get their employees or clients noticed by the media.
3. Why is it important to set key performance indicators for new marketing and sales campaigns?
- It is important to set KPI in the organisation to ensure the employees is doing the right thing by measuring how well an organisation is achieving its stated goals and objectives. 7-Eleven and Krispy Kreme’s key important is to drive awareness of a