Need help with my writing homework on Royal Mint London 2012 Olympic Souvenir Coins. Write a 2000 word paper answering; The processes employed by the organization to respond to the particular challenge are presented and explained in this paper using appropriate literature and empirical evidence, as available.
The identification of marketing strategies that are most appropriate for the promotion of products or services in a particular market can be a difficult task. Marketing research (see Figure 1 Appendix) can help to locate marketing strategies that promote effectively a particular product or service either locally or globally. According to Kotler ‘marketing research are the systematic design, collection, analysis, and reporting of data and findings relevant to a specific situation facing the company’ (Kotler, 1983, quoted by Breneman et al. 1998, p.7). Therefore, marketing research can help suppliers ‘to understand the needs of their customers (Chisnall 1992, quoted by Proctor 2005, p.3). In this paper, the practical implications of marketing research are presented. Reference is made to the needs of the UK market in terms of 2012 Olympic commemorative coins. The potentials of Royal Mint, ‘the worlds leading export mint’ (Royal Mint, About the Royal Mint 2012), to respond to the relevant needs of the UK market are explored using appropriate literature. It is proved that Royal Mint is appropriately prepared for facing the challenges of such a task. however, it would be necessary for measures to be taken so that unexpected market trends or turbulences are handled effectively.
One of the key issues that the Royal Mint has to face in regard to the 2012 Olympic Games is the identification of the marketing strategies that could help the organization to respond to the needs of the Games in terms of commemorative coins. The various phases of the marketing process involved in this project are presented below. Reference is also made to the different types of packs, .meaning the commemorative coins, which should be made available in the 2012 Olympic games. .
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