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Market segmentation 3 TASK 13: Introduction

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1 MARKETING PRINCIPLES AND TECHNIQUES INTRODUCTION 3 TASK 13 1.1: Define marketing and activities related to marketing 3 1.2: Market segmentation 3 1.3: Marketing mix 4 TASK 25. 2.1: Aims of research and market analysis 5 2.2: Market analysis5 2.3: Market analysis techniques and tools 6 TASK 36 4.1: Types of methods in E-marketing 6 4.2: Creating and maintaining online image of the company 7 TASK 47 3.1: Using techniques related to market

Market segmentation 3 TASK 13: Introduction

   Added on 2021-01-02

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MARKETING PRINCIPLESAND TECHNIQUES
Market segmentation 3 TASK 13: Introduction_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1: Define marketing and activities related to marketing..........................................................31.2: Market segmentation............................................................................................................31.3: Marketing mix......................................................................................................................4TASK 2............................................................................................................................................52.1: Aims of research and market analysis..................................................................................52.2: Market analysis....................................................................................................................52.3: Market analysis techniques and tools...................................................................................6TASK 3............................................................................................................................................64.1: Types of methods in E-marketing........................................................................................64.2: Creating and maintaining online image of the company.....................................................7TASK 4............................................................................................................................................73.1: Using techniques related to market analysis........................................................................73.2: Interpreting the findings.......................................................................................................83.3: Presenting results in front of team members........................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
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INTRODUCTIONMarketing is one of the most critical aspect that is responsible for the business concern toincrease the profitability of the business and its sustainability. The definition and meaning ofmarketing is explained and elaborated by various professionals in different ways. Manyprofessionals explains marketing as a process related to completing activities related businessconcern by formulating plans of action, determination of price, promoting and advertisingproducts and services, and finally providing the products to final consumers in an effective andefficient manner.( Azar, and Menassa, 2011) This project report discusses about the meaning ofmarketing and related activities like market segmentation, applications of market mix. Thediscussion of aims of marketing research and analysis. Significance of online marketing andfinally discussing about marketing analysis techniques and interpreting and presenting resultsabout the report to the team.TASK 11.1: Define marketing and activities related to marketingMarketing: In modern world marketing plays an important role in an organisation inorder to promote about the products and services that the company is providing to the customers.According to the case study a shop of Furniture that is operated in the region for the past 6months is not operating in a reliable way. The business needs to enhance their goods in order tosatisfy the desires and needs according to the way they require.Marketing is an way to assist the companies in applying the business actions in such away that helps the companies in selling their products. The marketing activities include selling,advertising and delivering products and services to the final consumers. The employees of theorganisations who work in the marketing department emphasises on selling their products to thetargeted customers by creating slogans, designing packaging, using celebrities for endorsementsof their products etc. The main components of marketing includes place , product, price andpromotion.( Bakar, and HUSSIN, 2013)1.2: Market segmentationSegmentation is the process of dividing the homogeneous part of market into the differentsegments according to the factors such as demographic, psycho-graphic, geographic and
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behavioural according to the similar needs, demands , wants , tastes and preferences ofconsumers. These market segmentation strategies are discussed as below: Demographic segmentation: this Market segmentation strategy divides the markets onthe variables related to consumers such as income, age , size of family and socio-economic status. The demographic factor considers the customers of same demographicprofile and same culture and accordingly decides the types of products the consumerswill buy.Geographic Segmentation: According to this the market is divided on the geographicalcriteria where the consumers are residing. The segmentation considers factors such aslocation of country, climatic patterns, population density and many more. Behavioural segmentation: In this strategy the consumers are divided according to theirbehaviour and attitude the possess. In this kind of segmentation the marketer determinesthe mentality of the consumers where the company is trying to sell its products andaccordingly produces the products that will be accepted by them.( Caywood, 2012)1.3: Marketing mixThis is a crucial process that assist the companies in determining the types of goods andservices that can be offered to the consumers and how an successful and efficient product can beoffered to the consumers. The marketing mix involves four P's of marketing which are discussedin brief as below:Price: The prices that are determined by the members of the family are not able infollowing methods related to specific pricing. The are charging price at maximum levelfor their products. The should determine the prices as per the standards provided bythem . ( Thøgersen, 2014)Product: In the furniture business there are different products that can be produced suchas dining tables, beds, sofas etc. which can assist the company in increasing theirproductivity. Place: As per the information that is mentioned, it has been seen that the company isoperating for just 6 months at an individual place which makes it impossible for thebusiness to expand.
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