Wednesday, February 20, 2019
Funeral Care Industry
The United Kingdom funeral trade is believed to be price around ?1billion yearly, with in excess of 600,000 funerals taking place every year. It is estimated that thither are about 4,000 funeral directors currently offering services in the UK, besides exact numbers prove to be difficult to pinpoint as the profession is unregulated therefore anyone arsehole enter it. The funeral market in the UK has two industry leaders, The Co-operative multitude and Dignity Caring Funeral Services (Dignity Plc). The Co-operative Group has over 800 branches across the UK and learns around 100,000 funerals a year .They also aver the North Eastern Co-operative. Dignity has just over 500 branches and conduct 75,000 funeral a year. Between these two companies, they are currently involved in over 25% of either funerals in the UK. at that place are several(prenominal) other large groups with large numbers of funerals homes. Targeting customer needs by the hencoop Funeral plow In evaluating unalik e market fragments, the coop Funeralcare has considered three factors, segment size and growth, segment structural attractiveness, and company objectives and resources.After evaluating different segments, the Coop Funeralcare has decided which and how many segments to fag. Target markets consist of a set of buyers who pct common needs or characteristics the company decides to serve. The Coop Funeral Care serves all population age groups, in assisting with Funeral arrangement for the deceased. On its website it state that it offers restrain to the deceaseds relatives when someone dies, in hospital, at nursing home, abroad, or unexpectedly.In addition to these services the Cooperative Funeral Care also gross sales funeral cover for to UK families. Because buyers have unique needs, wants and expectations, Coop Funeral care could potentially notion each buyer as a separate target market. There many different factors in which relatives, insurance companies, or local government t ake into account when choosing a funeral home for the deceased. These factors may include quality, perception, record and financial. Funeral are personal and unique, it appears the Coop Funeralcare view each buyer as a separate target market.There are four different target market segments and we shall now examine the Coop Funeralcares target market strategies in turn. Undifferentiated marketing Differentiated marketing The funeral market is differentiated by different factors which ultimately play a federal agency in the type of funeral, burial or cremations to be chosen by the deceased through funeral policy, the deceaseds family, local authority or insurance firms. The key factors include religious beliefs, life style and arse also be influenced by the economic factors for example the economic downturn.The Coop Funeralcare offer different products for different market segments for example they sale funeral care insurance plans to specific group of customers, they also offer rel igious funerals to provide for certain religious groups , they can conduct funerals on behalf of other insurances companies individuals. They can also cater for individuals and can conduct funerals on behalf of local authorities. By offering product and market variations to these segments, The Coop Funeralcare hope for higher sales and a stronger position within each market segment.