Definition of Marketing is,
“Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” – CIM Definition.
Definition of Marketing Process is,
“Business function and management skills. It requires planning, analysing, resource allocation, control and investment, skilled workers and other physical resources” – Edexcel Business study guide. Therefore, the various elements of marketing is the Boots Marketing Mix.
The various elements of marketing process that Boots adapts
According to Boots UK that Boots promotes family values and the marketing process is to find Boots customers’ needs and wants then find the necessary demand for specific products and supply them for affordable prices. In order to provide best value for their customers, Boots monitor the market environment and produce effective market strategies; developed market communication plan in 2010; segment, target and position products to reach the correct customers. Elements of MP is a combination of marketing mix.
Product: Pharmaceutical products and Cosmetics are made with high quality products. Suppliers are audited frequently. Boots cater their products to suit their customer needs. The increase in revenue depend on the quality and safety of the products.
Price: Customers need quality products and services for reasonable price. The market research is valuable for Boots to compare the prices with its competitors and need to offer the most reasonable price for their customers. The prices should be less than the competitors. The key competitors for Boots are Superdrug, supermarkets and Holland & Barrett. Boots strengthen their collaboration with the pharmaceutical companies and suppliers to distribute t...
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...ots annual report. It states that “Our strategy for Alliance Healthcare is to be the world’s best wholesaler and distributor of pharmaceutical products, working in partnership to provide added-value services or pharmacy and manufacturer customers.”
Boots deliver prescription medicines to pharmacies. Also, Alliance Boots promote their own brand, Almus the generic medicines to the private pharmacies. Also Boots Alcura the patient care service which provide care and advices to patients and the healthcare professionals.
Difference between domestic marketing and international marketing are
• Opportunities in domestic marketing is limited compare to international.
• Foreign currency will bring benefits to Boots.
• International politics is volatile in some places will affect Boots business.
• Cultures, traditions, language and believes differ in international marketing.
