Table of ContentsIntroduction2LO1-1.1 Elements of Marketing Process31.1Marketing:31.1.A. Elements of the marketing process:3LO1-1.2 Benefit and Cost of Marketing Orientation:7LO2-2.1 Macro and micro factors that can influence marketing decisions8LO2-2.2 segmentation criteria to be used for Boots:13LO2-2.3 Choose a targeting strategy suitable for Boots:14

Introduction

Boots UK is a member of Alliance Boots, an international pharmacy-led health and beauty group.The company has intention to help the customers look and feel better than they ever thought possible.Boots have close to 2,500 stores from local community pharmacies to large destination health and beauty stores. They offer fantastic products and services and individual shall be cared for by expert, friendly people. They have stores all over the UK and Ireland. Healthcare in Boots is not just about dispensing prescriptions, but also about offering expert advice to all patients and customers, ensuring they get top quality patient care in a location that is convenient to them. Working closely with the NHS, Boots is about providing easy access to quality healthcare services across the UK, ensuring that patients get what they need at a time and a place that is convenient to them.

Boots is committed to making sure customers are able to shop with us when, how and where suits them best.So, as an innovative multi-channel retailer, Boots offers a range of ways for customers to shop including: Ecommerce site Mobile optimised site Customers can order a product before 2pm and collect it in one of more than 2,000 stores the following day after 2pm Also, with Tap into Boots service customers can use iPads in stores to order through the site and collect in-store, giving customers a large selection in even in the smaller stores Sharing latest offers and events through social media channels Dedicated customer care team on Facebook WebMD, consumer health and wellness portal Online inspiration and advice across health and beauty.

LO1-1.1 Elements of Marketing Process1.1Marketing:

The term marketing has evolved over time, today marketing is based around providing continual benefits to the customer following a transactional exchange. The Chartered Institute of Marketing define marketing as 'The management process responsible for identifying , anticipating and satisfying customer requirements profitably'According to Philip Kotler marketing is 'satisfying needs and wants through an exchange process'Customers will only undertake the exchange, if they feel that their needs are being satisfied, clearly the transactional value cannot be more than the amount customers are prepared to pay to satisfy their need.So, we can define Marketing as an exchange process where customers satisfy their needs and wants

1.1.A. Elements of the marketing process:

The marketing process consists of four steps. These four steps are all completed with the goal of creating value for the target customers. Some elements of the steps are performed continuously, such as monitoring the marketing environment. Some are done annually, such as the annual development of a marketing communications plan. Lastly, some of the steps, if done correctly, should last for decades, such as segmentation, targeting, and positioning. (According J. Hargrave, 2010)

The elements of the marketing process are referred to as "a set of controllable tools that the firm blends to produce the response it wants in the target market, so it consists of everything the firm can do to influence the demand for its product(Kotler and Armstrong, Principles of Marketing 2004, Tenth Edition, New Jersey Pearson Education Inc.). The Elements of Marketing or Marketing mix which is famously known as the 4Ps of Marketing(stated by McCarthy in 1960) which include Product, Price, Placement or Place and Promotion.

PriceProductPriceProduct

Target MarketTarget Market

Marketing Mix

ProductProductPromotionPlace

Product: As the product is the item being sold to the customer, the thing that will bring in money, its features and design need careful consideration. Whether the firm is manufacturing the product or purchasing the product for resale, they need to determine what product features will appeal to their target market. When an organisation is considering introducing a product into a market, they should ask themselves the following questions: 1. Who is the product aimed at2. What benefit will customers expect from it3. What will be its advantage over competitor products? Or its unique selling point?4. How does the firm plan to Position the product within the market? The answers to these questions will help a firm design, package and add value to its products.For the particular case of this assignment, the product is not confined to any single thing, rather many products that offered by Boots. They include: medicines, online clinic services, other health care products, skin care products, cosmetics, optics, toys, gift items etc.

Price: There are lots of different pricing strategies but every strategy must cover at least the costs unless the price is being used to attract customers to the business (loss leader pricing). A product is only worth as much as people are prepared to pay for it. The amount target markets are prepared to pay for the products/services depend on product features and the target market's budget. Company also needs to consider competitor pricing and factors within their marketing environment. Effective pricing involves balancing several factors.In generally it is a conception that if a company lowers the price of its product, the organization would have expanded sales. Practically it is an invalid argument as the customers do not decide on price; they do look for other components such as quality, cost effectiveness, time, easy accessibility and value added services with also keeping in mind the customer relation management of a firm. The element Price of marketing mix could be divided into two categories, such as price determination and price administration respectively. Boots has to decide price of product as per local market conditions and customers. By looking at the popularity of Boots we can assume that Boots is selling its product with such a price that reflects customers willingness to pay for their products. Yet may be, there is still a room for being more competitive and attract more customers which is a research question.

Placement/Place:Placement or Place under marketing mix involves all company activities that make the product available to targeted customers(Kotler and Armstrong, 2004).The Place element of the marketing place is about where the product is made, where is it stored and how is it transported to the customer. The place for each of these things should ensure that the product gets to the right place at the right time without damage or loss. The ideal place will be Convenient for the customer and the business Accessible for the customer if it is the place where the product is sold Low cost or free for the customer if it is the place where the product is sold Reasonable cost to the business.Boots have close to 2,500 stores from local community pharmacies to large destination health and beauty stores.Boots has its presence at every prime location around the UK.

Promotion:A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. Promotion is any activity to raise awareness of a product or to encourage customers to purchase a product. Advertising is a form of promotion but not all promotions are advertisements. Promotional activities for consumer sales will be different to promotional activities for business to business sales. The following things will influence how a firm chooses to promote its product: Promotional campaign purpose The budget for the promotional campaign Legal rules about what you can promote and how The target market for the product The marketing environment in which the firm operates

Promotion is nothing but the means in which a company communicates to its customers about their product, values and benefits of a product.

Time to time Boots comes up with new promotion, like in 2012 Christmas, Boots marketing director Elizabeth Fagan felt the time was right for the brand to chart a fresh creative course. Fagan has called time on the pharmacy-led health and beauty retailer's 'Here come the girls' creative strategy. Explaining the decision, Fagan says that the brand was in a different place when the campaign had its main launch in 2008: Boots had 'lost our connection with our core customers' and needed to demonstrate to consumers that it 'got women'.Fast-forward to 2012, and in Fagan's eyes it is very much a case of mission accomplished. The new strategy, which uses the strapline 'Let's feel good', is intended to 'inspire' all Boots customers.'We wanted to broaden the appeal beyond women, in terms of how it was presented, but recognise that we were still talking to women,' she recalls. 'We never wanted to get to a stage where we were alienating men. It is about making advertising feel more inclusive.'Fagan's latest three-year plan is built on the idea of inspiring Boots customers to take 'active steps to feel good'. An ethnically and socially diverse Britain will be conveyed by changing the cast of each TV execution, rather than sticking with the same group of characters, which the previous campaign had done.There are many different ways you can go about this: Advertising, Direct marketing, Public relations, Personal selling, Displays, Sponsorship, Demonstrations, Sales promotions. Boots have to promote their product locally by sponsoring local events and local advertisements.The Marketing Strategy for boots going to international market should be as follows. The below are the analysis, how boots can achieve success by going it internationally. By exploring key market drivers they can make huge success. Brand Tracking data showed that Boots continued to be rated much higher than competitors on the quality and choice of healthcare products and on customer knowledge and advice. However, only 19 per cent of dispensing customers identified Boots as their first choice pharmacy. The reason Boots isn't first choice is because only 20 per cent of Boots stores are more conveniently located than their competitors - and convenience is the primary driver of pharmacy choice. The audience are the key factors which can make differences. The dispensing audience is critical to Boots. More importantly when you analyse the audience it becomes apparent that the pare to principle applies to Boots pharmacy. 60 per cent customers are on repeat medication, this 60 per cent generates 90 per cent of the Boots pharmacy revenue.

LO1-1.2 Benefit and Cost of Marketing Orientation:

A market orientated company puts the customer at the "heart" of the business; all activities in the organisation are based around the customer. The customer is truly king!. A market orientated organisation endeavours to understand customer needs and wants, then implements marketing strategy based on their market research; from product development through to product sales. Once sales have begun further research will be conducted to find out what consumers think about the product and whether product improvements are required. As markets continuously change, market research and product development is an ongoing process for a market orientation company.

Customer-CentricA major advantage with a marketing orientation is that business is built on addressing the needs of those the company serve. If customers want certain features or attributes in Boots products, Boots can more quickly learn and react if Boots has a hand on the pulse of the marketplace. Customer-centric organizations spend significant time researching to get the best understanding of what works and doesn't work with existing offerings.

Competitive AdvantageMaking Boots customers a top priority can be a big advantage in a competitive industry. When competitors put too much time and effort into product engineering and development, they are less equipped to build solutions that appease the demands of discerning customer markets. Knowing what customers want not only helps Boots develops products to suit, it helps Boots better market them persuasively to grow your customer base and sales levels.

Less Product DifferentiationSpending more time on customer interaction and research can detract from fine-tuning your product features. Having a product differentiation strategy is more difficult with a marketing orientation. Boots competitors may be able to develop more distinct features and more cutting-edge advances in their products. The hope for marketing-oriented businesses is that these more-advanced products miss the mark on what customers want or cost too much.

Lack of PredictabilityA marketing orientation makes advanced planning on product development and product much more difficult. Boots business must respond to the perpetual changes in consumer desires from your solutions. Marketing-oriented companies must have strong technology infrastructures and clearly defined communication channels to allow for efficient response times. Production processes must flex to the new features customers want and marketing, and sales employees need to know what benefits to use in persuasive selling.LO2-2.1 Macro and micro factors that can influence marketing decisions

The marketing environment surrounds and impacts upon the Boots. There are three key perspectives on the marketing environment, namely the 'macro-environment,' the 'micro-environment' and the 'internal environment'.

The micro-environmentThis environment influences the Boots directly. It includes suppliers that deal directly or indirectly, consumers and customers, and other local stakeholders. Micro tends to suggest small, but this can be misleading. In this context, micro describes the relationship between firms and the driving forces that control this relationship. It is a more local relationship, and the firm may exercise a degree of influence.

The macro-environmentThis includes all factors that can influence and Boots, but that are out of their direct control. A company does not generally influence any laws (although it is accepted that they could lobby or be part of a trade Boots). It is continuously changing, and the company needs to be flexible to adapt. There may be aggressive competition and rivalry in a market. Globalization means that there is always the threat of substitute products and new entrants. The wider environment is also ever changing, and the marketer needs to compensate for changes in culture, politics, economics and technology.

The internal environmentAll factors that are internal to the Boots are known as the 'internal environment'. They are generally audited by applying the 'Five Ms' which areMen,Money,Machinery,Materials andMarkets. The internal environment is as important for managing change as the external. As marketers we call the process of managing internal change internal. Essentially we use marketing approaches to aid communication and change management.The external environment can be audited in more detail using other approaches such asPESTLE Analysis, Michael Porter'sFive Forces AnalysisorSWOT Analysis.

Pestle analysisThere are many factors in the macro-environment that will affect the decisions of the managers of any Boots. Tax changes, new laws, trade barriers, demographic change and government policy changes are all examples of macro change. To help analyse these factors managers can categorise them using the PESTEL model. This classification distinguishes between:

Political FactorsPolitical factor includes government policy, wars and conflicts, legal issues, some employment laws, revenue policy, environmental laws, trade policy, current legislation, future legislation, international legislation, governments stability, international trading policy, are the political factors that affect Boots.

Economic FactorsEconomic factors includes economic crisis in country, employment problems, exchange rate, condition of stock market, change in international trade policy, fluctuation in tax, inflation rate, growth in economic are the economic factors that affect the Boots.

Social FactorsSocial factors includes literacy rate, minimum wages, change in lifestyle, living condition and standards, demographic changes, population changes, occupation of people, earning capacity, consumers attitude, ethical problems, marketing and publicity pattern, religion issues are the social factors that affects the Boots. Generation gap between young employees and old age employees to fulfill both requirement and satisfied both according to their thinking strategy are work as a medicine. Dominant religion - if they are religious, they will not work on the day they are worshipping like the Sabbath for Christians. Some religions favours certain animals such as in Hinduism, the cow is sacred; if cows were used in testing the chemicals or Boots sell anything that has beef in it, Hindus will probably not work there. Attitudes towards foreign products and services - they don't like stuff for foreign companies; they are not likely to attract people who don't like foreign products. If people think foreign stuff are cheap and it compromises the quality of the product, their self-image may be an issue. Green issues - If Boots were to do all sort of environmental harm, environmentalists will not work for them. Likewise, if environmentalists found out that Boots does recycling and is dedicated to planting a hectare of trees each month out of its own pockets, it will attract more environmentalists to work for them. Animal testing - if Boots' products were animal tested, protesters will not work for them, let alone any animal lover. Roles of men and women - if there is any sexism in the company, women are likely to leave. If there are only a selected set of roles that each sex can apply for (e.g. facial cream sales rep, beauty treatment), then that would restrict the number of applicants and workers Boots will get. Health consciousness - if people are health conscious, they can use their knowledge to promote products Boots has. On the other hand, if the applicant wasn't health conscious, he/she will not really guarantee a job as a sales assistant in any section to do with health products. If people have a choice of jobs with equal pay anywhere and they were not all that health conscious, then they are not likely to be applying for jobs at Boots.

Technological FactorsTechnological factors includes arrival of new technology, quick acceptance of new technology, competing technology development, Information technology, intellectual technology issue, communication, replacement of technology, maintenance of machines, outsourcing of technology, Research and development activity, Customer relationship management are the technological factors that affects the Boots.

Environmental FactorsBoots has to take care of Staff, they have to increase morale of staff periodically by giving satisfying them. This could be satisfy by hierarchies needs. Boots has to concerns about staff engagement. Enjoyment between staff is necessary to increased productivity and quality of product. Boots has to conduct workshops for employees to increase product awareness, customers service lessons, and all other aspects which can help Boots. Boots culture is most importing aspects which can helps them to be a success in international market. Boots has also take care of pollution which may be created from Boots products or services or both. They has to more concern about recycling of products which can help to boost international image. They has to help government and consumers towards environment by giving service in environmental activities.

Legal FactorsLegal factors are important for a company who is going to internationally. Boots has to take in mind that what is happening in our sector that will impact what we do, they also have take care of minimum wages, working conditions as per local government rules. Governments is most important in legal factors. Boots have to take care of food items, Industrial training and take care of local child labour laws. The below legal factors affects boots and which will be Legislation in areas such as employment, competition and health & safety, future legislation changes, changes in government law, trading policies and Regulatory bodiesPest analysis gives brief knowledge about key factors which is affect the Boots and Stakeholder to fulfil their needs .PEST analysis looks at the externalbusiness environmentand is an appropriate strategic tool for understanding the "big picture" of the environment in which business operates, enabling the company to take advantage of the opportunities and minimize the threats faced by their business activities. Whenstrategic planningis done correctly, it provides a solid plan for acompanyto grow into the future. With a PEST analysis, the company can see a longer horizon of time, and be able to clarify strategic opportunities and threats that the Boots faces. By looking to the outside environment to see the potential forces of change looming on the horizon, firms can take thestrategic planningprocess out of the arena of today and into the horizon of tomorrow.PEST is not a set of rigid compartments into which ideas need to be sorted. It is better thought of as a set of hooks that can be used to fish for important facts. Once the factors have been "fished out", it does not matter which hook they were attached to. When it comes to writing up the analysis, there is no need to mention the PEST labels at all.

Porters Five Forces for Competitive PositionPorters five forces is strategy for competitors, deals with issue regarding the suppliers, Rivalry, threat about their competitors, substitutes, and threats of new market entrants are the porters five forces.

Power of SuppliersIt includes concentration of supplier on business, importance of volume to supplier, separation of inputs, and impact of inputs on cost, Threat of future assimilation, cost relative to total purchase in industry, switched cost of Boots.

Power of BuyerIt includes bargaining leverages, volume of buyers, detail information of buyer, identity of buyer, and sensitivity of price, incentives of buyer, threat related to past integration, differentiation of products.Entry barriers: Both new and existing competitors feels threat. It includes absolute cost advantages, access of inputs, Economic scale, capital requirement, and identity of brands, governments binding policy, and access of distribution channel.Threat regarding substitutes: Buyers tendency to substitutes, price performance of substitutes, switching cost of buyers, buyers opinion regarding the product and its separation and amount of substitutes product available in market.Rivalry: It defines when some organization competes with each other in same business for same thing. It is important to make strategy to deals with competition in same business environment. It determines attractiveness of Boots.

SWOT AnalysisEnvironmental scanning includes internal analysis of the Boots and external macro environment and task environment. Internal analysis and external analysis of Boots is known as a SWOT analysis. This analysis gives brief knowledge about auditing of Boots and details of products. SWOT Analysis is the base of making strategy and to manage risks regarding to the products. It is very important to understand general techniques and functions of managements. .SWOT analysis makes suitable environment for identifying and analysing strengths, weaknesses, opportunities, and threat. It also gives clear vision regarding situation and making suitable strategies and business formulas.There are following stages of SWOT analysis.

StrengthsAppropriate Environment, strong brand name, Strong background, good reputation, strong distribution channels, good quality natural resources, exclusive rights of products are the strengths of business Boots. Boots turnover and current sales are marginal to enters global market. Boots have clear objectives which can help to understand the global market easily. Boots is successful manufacturer of health and safety products. There customers are loyal to the brand which can helps to enter global market.

WeaknessBoots failed to attempts to diversified in Halfords. Saturated global market is also important factor for boots in this segment. Boots is also failed to expand their business in European market. Weak background, inappropriate environment, inferiority raw material, lack of natural resources, lack of manpower, unreliable product and services ,lack of finance, weak brand name, poor reputation, lack of distribution network are the weaknesses of business Boots. At present situation of credit crunch, their operating profit is falling. Boots market strategy failed to target socio-economic groups.

OpportunityBoots has opportunity by some success with implant in south east Asia. There is a possibility of 100 million savings if they merger with Alliance Unichem. Women are the key customers of this kind business and at present that 11 million people have an advantage card, but only 9% being male. Now a days internet selling is important and Internet sales becoming popular. They have an opportunity to expand their business in ethical market. Male healthcare and beauty products are also opportunity for boots. Increasing production when low revenue cost, increasing production when inflation rate is low, quick acceptance of latest technologies, take benefits of international trade policy, investments which is favourable for Boots are the opportunities of Boots.

ThreatTesco and other supermarkets are threats after deregulation of Boots. Competitors sales of product through the internet is remarkably high as compared to Boots. Competitors, less interest of customers in product, fluctuations of price between competitors, changes in government policy like tax, revenue and inflation rate, Demographic changes in target market, changes in population age are the threats of Boots.

LO2-2.2 segmentation criteria to be used for Boots:

Market segmentationAn organisation cannot satisfy the needs and wants of all consumers. To do so may result in a massive drain in company resources. Segmentation is simply the process of dividing a particular market into sections, which display similar characteristics or behaviour. There are a number of segmentation variables that allow an organisation to divide their market into homogenous groups. These variables will be discussed below. Demographic Segmentation Income Segmentation Geographic Segmentation Psychographics Segmentation Lifestyle segmentation

This is where the market is broken down into identifiable groups of people with similar needs. In Kotlers words, it is the breaking down of markets into increasingly homogeneous sub-groups that can be targeted with a specific marketing mix.

Breaking a large market down into a number of segments has several advantages:

It enables the seller to meet the requirements of buyers more closely, e.g. a car can be designed for families with children, for use in city traffic, etc.It can make advertising and promotion more focused, It can enable companies to specialise in particular segments and develop expertise in meeting the needs of customers in these segments (e.g. 1830 holidays).It can help a company achieve higher sales and build up a stronger market position.It can help to increase the profits of a company

Based on Boots product line it will be better if they focus on demographic , age and life style segmentation.

LO2-2.3 Choose a targeting strategy suitable for Boots:

From the manager Marketings view of Boots company, a targeting strategy suitable must be accessed by the point of marketing mix coordinate with differentiated. And the most important thing is creating more loyal customers to Boots company.

In order for the segmentation to be a success:

Understand the Segments Communicate to the Business Develop Segment Strategies Implementation and management Measure and Review

Strategy - Reporting of impacts on customers, value, profitabilityMarketing - Development of effective campaign strategyLoyalty - Customer development and retentionR & D - identifying customer needs for NPDCategory - planning, pricing, promotions and ranging, supplier engagement

LO2-2.4 how buyer behavior affects marketing activities in different buying situations for Boots products:

A. B2C (Business to Customer) StimulusProcessResponseCultureSocial influenceReference groupMarketing mix

Psychological factorsPhysiological factorsPerceptions and feelingsAttitudes and beliefsBuying behaviorsBuying practices

Choosing Pro-series are the main products to develop the Boots. Above model is SPR (SOR) model-customer to show how buyer behavior affects marketing activities of Boots.

Stimulus:Factors affecting stimulating of consumers to buy such Boots products must tell culture, social influence, reference group and marketing mix. Perhaps influenced by factors that are most important are social influence and marketing mix with the below details.

ProcessRegarding Maslows Hierarchy of Needs

Response: After having particular analysis about the marketing, customer will having response with market. This is called is B2C of marketing.Need recognitionInformation searchEvaluation of alternativesPurchase decisionPost-purchase evaluation

This is time that customers choose the product or company is at the company's marketing process give the results. Based on all these factors, firm-level information about the product, it is time the customer has decided to spend the money to buy the pro-series products of companies or not.B2B (Business to business) When marketing to business, the logic of the product by focusing more on functional characteristics. Emotional factors in the decision process usually does not play an important role. Therefore, with B2B, there are factors influence organizational buying behavior with RSs productGroup Forces

- Environment forces: Economic outlook: domestic and global of Boots- Organization Forces: Goal, objectives and strategies of BootsIt is from the above factors, a business customer can evaluate and purchase decisions of the Boots Problem RecognitionGeneral Need DescriptionProduct SpecificationValue AnalysisSupplier SearchProposal SolicitationSupplier SelectionOrder-routine specification Performance Review

LO2-2.5 Propose a new positioning strategy suitable for Boots:

After the organisation has selected its target market, the next stage is to decide how it wants to position itself within that chosen segment. Positioning refers to how organisations want their consumers to see their product. Market positioning is about effectively conveying messages about your product or services to your target market.

Market Positioning Examples Car manufacturer Daewoo in the UK, has successfully positioned themselves as the family value model. Before Volkswagen purchased Skoda it had a negative image and known as a cheap car make in the UK. However Volkswagen have successfully repositioned the brand so it is now known as a "good" make which regularly wins car of the year awards. Positive comments from the car industry combined with successful design changes has changed the perception of consumers about the Skoda brand.

Developing a Positioning Strategy The first step in developing your positioning strategy is market research. You will need to find out what features buyers in your chosen market segment feel that your product type should have. This stage is researching product features in general not features offered by specific brands e.g. smart phone features, television features, washing up powder features. Once you have identified preferred product features and how consumers rank them against each other, make a list of products on the market which offer those features. Finally draw out a positioning (perceptual) map showing preferred product features and which competitor products offer those features. For comparison purposes, it may also be useful to place your own product on the positioning map as well. Now that you can see how competitor products are positioned in your chosen market segment and where your product is currently placed, you need to make some decisions about where you would like to position your product.

Finalising Your Positioning Strategy Developing a positioning strategy depends much on how firms position themselves. Do organisations want to develop a me too strategy and position themselves close to their competitors so consumers can make a direct comparison when they purchase? Or does the organisation want to develop a strategy which positions them away from their competitors? For example by offering a feature not offered by competitors. This may be a feature that your market research revealed buyers in your market segment rank as important. High Price

Low QualityHigh QualityLow Price

For Boots it will be better to position their product somewhere high quality with moderate price.

LO3-3.1 How Products are developed to Sustain Competitive Advantage:

When a company sets standards and bench marks in a particular business over its competitors, is known as competitive advantage. All the companies work towards having a competitive advantage in the market. According to Michael Porter there are two types of competitive advantage, cost advantage and differentiation advantage.Cost LeadershipCost leadership simply means producing high volume of standardized product with lowest cost. For the successful strategy to achieve cost leadership Boots need to produce a product with the law cost and sell cheaper than their competitors. Boots need to control on the cost of the raw material, components, labour, or some other input. Successful implementation of this strategy by increase in process engineering skills, control on the cost of the production, mass production to reduce labour cost.

DifferentiationDifferentiation means making a product different from the competitors. In product, differentiation allowed Boots has to charge a premium price for it. To achieve product differentiation Boots need to access to leading scientific research, highly skilled and creative product development team, strong sales team with the ability to successfully communicate the perceived strengths of the products, corporate reputation for quality and innovation. Boots hopes that the higher price will more than cover the extras cost incurred in offering the unique product. Because of the product, high price if suppliers increases their prices the firm may be able to pass along the costs to its customers who cannot find substitute product easily.

LO3-3.2 How distribution is arranged:

LO3-3.2 How Prices are set to reflect Organisations objectives and Marke Condition:

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