Principles of Marketing Explained

This assignment delves into the fundamental principles of marketing, examining their significance in formulating successful marketing strategies. It explores four core principles – product, price, place, and promotion – analyzing how they interact to influence consumer behavior and achieve marketing objectives. The document also references various academic sources and online materials to support its explanations and provide a comprehensive understanding of these essential marketing concepts.

Marketing Principle

Table of content
INTRODUCTION......................................................................................................................................2
TASK 1.......................................................................................................................................................3
AC 1.1 The various elements of the marketing process.........................................................................3
AC 1.2 The benefits and costs of a marketing orientation for a selected organization..........................4
AC 2.1 Macro and micro environmental factors which influence marketing decisions........................4
AC 2.2 Propose segment at ion criteria to be used for products in different markets............................5
AC 2.3 Targeting strategy for a selected product/service......................................................................6
AC 2.4 Demonstrate how buyer behaviour affects marketing activities in different buying situations 6
AC 2.5 Propose new positioning for a selected product/service ...........................................................7
AC 3.1 How products are developed to sustain competitive advantage................................................7
AC 3.2 How distribution is arranged to provide customer convenience...............................................8
AC 3.3 How price are set to reflect an organization's objectives and market condition........................8
AC 3.4 How promotional activity is integrated to achieve marketing objectives.................................9
AC 3.5 Analysis the additional elements of the extended marketing mix.............................................9
TASK 2.......................................................................................................................................................9
AC 4.1 Plan marketing mixes for two different segments in consumer markets...................................9
AC 4.2 Difference in marketing products and services to businesses rather than consumers.............10
AC 4.3 How and why international marketing differs from domestic marketing................................10
CONCLUSION........................................................................................................................................10
REFERENCES.........................................................................................................................................11
.............................................................................................................................................................13

INTRODUCTION
Marketing is process of selling and purchasing the goods and service in particular place. It can
be process of exchanging the service and goods which is buy the customers for personal use. Marketing
is that factor which is mainly focus on the customers satisfaction. Is is a activity which can define the
exchanging process of services which is used by the customers (Polat and Donmez, 2010). The aim of
marketing is to eliminate the needs for selling which is buy by the service user to fulfil their needs. In
the marketing principle include marketing mix which is define the 4P's of effective marketing which is
determine the product which is offered by the IKEA to their customers, the price can be define the price
of the product which is used by the service user, the promotion which is promote the product with the
help of advertising, personal selling in the market which can help to informed to the customers to buy
the product, place which is determine the getting the product to the customers so that they are evaluate
the marketing process in appropriate manner. The IKEA is a retail company which can define
marketing process that can be maintain the relationship with customers, competitors and company. In
the below mentioned report has been determine the benefits and costs of a marketing (Steinle, Schiele
and Ernst, 2014).
TASK 1
AC 1.1 The various elements of the marketing process
In the marketing system there are some various elements involve in marketing process which
can be identify the needs, wants and demand of the customers. In the market process which is evaluate
the marketing strategy to achieve appropriate target which is define the performance of the IKEA.
Marketing process have to involve some essential element which is help to create appropriate process
to achieve their goals:
Situational Analysis- In the marketing involve foundation of the marketing plan which is define the
Swot analysis, Pestle analysis, Porter’s five forces which is define the position of the market in
effective manner to evaluate the business process which is influence the future plan of the market.
Marketing Objectives- In this element of the marketing process the main objective of the market

process to set the effective market plan and define the goals of the IKEA which is increase the product
and service that is used by the customers. Marketing objectives have to evaluate the mission and goal
of the IKEA (Pan and Chen, 2011).
Marketing Strategy- The marketing strategy is a long term plan to define the objective of the
company and set effective market plan to achieve the marketing objectives. Marketing strategy have to
effective which is create the positive environment in the market place too influence the customers to
buy the product and help to increase the sale of the IKEA (NathNachiappan and Ramanathan, 2010).
Marketing Mix- In the IKEA company marketing mix have to involve the seven elements which is
help to work effectively to achieve the market objectives. The marketing mix involve the product,
price, place, promotion, people, process and physical evidence which is help to produce effective
process for the customers to satisfy their needs.
Implementation and control- An effective strategy have to define the outcome of the marketing
planning which is improve the effectiveness to achieving their goals and objectives in the marketplace.
AC 1.2 The benefits and costs of a marketing orientation for a selected organization
In the marketing planning the benefits and cost of a marketing orientation for IKEA to involve
the effectiveness to achieve their target which is predetermine by the company (Tate and et. al., 2010).
There are some concept which is define the success in the market. Production concept, product
concept, selling concept, marketing concept, societal marketing concept which is determine the
appropriate target that is essential part of the IKEA to create positive environment to define the
profitability of the market.
Some benefits of market orientation which is include in IKEA:
Appreciation- It can be define the specific market to promote their product in market to achieve the
target of the business.
Profits- Profits can be define the positivity in the business to attracting the customers in the market
(McDonald and Wilson, 2011).
Adaptability- Adaptability can be involve service and feedback system to define the happening,
feelings, wanting which is evaluated by the specific methods to achieving their target of the market.
In the market process there are some cost of the marketing orientation for a specific organization:
Cost- Cost can be define the value of the product can determine their advantage and disadvantage of
market orientation which is create the effective value of the product and the market.
Feedback- It is a effective advice to get the target in effective to evaluate the systematic process of the
market and determine the goals of the IKEA company.

Time- Time is the essential factor of the company which is depend on the decision pf the market to
evaluate the business process in the marketplace.
AC 2.1 Macro and micro environmental factors which influence marketing decisions
Marketing planning process can be define the macro and micro environmental factor which is
help in decision making to evaluate the target of the IKEA:
Macro environmental factor- These factor are large level of factor which is help to evaluate the
process of marketing process to take the effective decision regarding the market process. The macro
environment can be include some element which is help to evaluate the process in effective manner and
define the appropriate result in the market which are:
Demographic factors- It can be include region, age, cultural characteristics, household lifestyle,
education level which can help to evaluating the market to take effective decision and achieve the
effective target in the market place (Lovelock, 2011).
Economic factors- The economic factor have to impact on the production and the consumers decision
making process which can help to analysis the economic factor to define the target of the market.
Natural/ physical factor- In this factor they include agricultural product which is define the natural
resources which is oil, coal, minerals which is impact on the organization production.
Technological factor- It can be determine the skills and knowledge which is applies to the production
which is positive impact on the business.
Micro environment factors- These factor are based of wide nature which is evaluate the market as
well as nosiness process in effective process. There are some factor which include in micro
environment:
The suppliers- When the supplier have power they control the success of the business. They can define
the goods or service in buying process.
The customers- The customers is individual person to purchase the product and used to effective
manner to fulfil their needs according to their demand and wants. They have to essential person to
generate profit in market.
The competition- The competition having a process to sell same and similar product in market and it
can provide same service in the customers.
Micro and macro environment factor can be define the success of the marketing company which is
taking the effective decision foe the organization as well as marketplace. They can improve the success
of the IKEA.

AC 2.2 Propose segment at ion criteria to be used for products in different markets
Propose segment of the marketing which is determine the marketing strategy to define the
development of the marketing mix to evaluate the target of the IKEA. They can involve the decision
regarding the effective market to achieve their goals and objectives (Linoff and Berry, 2011). The
marketing mix have to involve 7P’s to determine the effective product to the customers that can help to
increasing the sale of the market and get appropriate satisfaction according to providing service and
goods which can help to develop their performance and it can be focus on the providing service to the
service user. In the market process there are basic types of market opportunities which can help to
promote the product in market as well as customers mind which can determine the objective of the
market.
Market Penetration- In this opportunity they can increase the sale of the present market it can help to
increasing the service, improve rate of the product and attracting their customer in effective way to buy
their product and enhance the productivity in the market as well as business process.
Market Development- It can be define the development of the new market which is help to increasing
the sale of product and set the new target to maintain the profitability of the IKEA.
Product Development- It is define the new and effective product in market. They have to find
innovative way to determine the better satisfy the goals in the present market.
Diversification- It can be define the new product in new market which can determine the diversification
of many organization which is produce the product to reduce the cost of the profit.
AC 2.3 Targeting strategy for a selected product/service
Targeting marketing is the process of selecting the target which is define the productivity in the
market. They can define the objectives, resources and capabilities of the firm’s. target strategy can
define the flexibility of the product and service which is used by the customers for fulfil their needs and
wants. The market have to determine the exchanging of the goods and service which is provided to
their customers to get higher satisfaction (Levek, 2017). Target strategy have to specific for the product
and service which can help to determine the appropriate result and provide the service to the customers
to get higher profitability in the IKEA. The target strategy have to measure the productivity as well as
the performance of the company that is related to the sale of the product. It is not already determine by
the other competitors and take specific process to evaluate the process of the market to establishment of
the target which is achieved by the IKEA which can define the positive environment in market that can
help to attract the customers in large process to determine the task and success in the business process.
The target strategy can define the large profitable to improve the operating cost which is afford the

customers to buy the product. The strategy have to growing in the market to implementation the target
of the IKEA and define the competitors in the market place. Specific strategy can be define the
democratic change in the market.
AC 2.4 Demonstrate how buyer behaviour affects marketing activities in different buying situations
In the market process the buyer behaviour can affects marketing activities. Now days the
business have many products and retail store which can be affect on the buyer behaviour of the
customers. In marketing research they will help to define the customers needs and wants of the
consumers and the can respond regarding the product that will affect the marketing activities. There are
two example which can define the buyer behaviour of the customers:
Social Media campaigns- In now time the social media can very effective to promote the product that
can help to define the product detail in customers mind which can help to attract their customers to buy
the product. In social media they include Facebook page, Twitter which can systemic process to invite
the customers in the market that affect on the marketing activities (Kulcsár, 2010).
Price- Price is the important for every business to promote their product in market. The price will
determine the special offer to their loyal customers to create the positive impact on the customers mind
and it can be help in enhancing the sales as well as profitability of the IKEA.
AC 2.5 Propose new positioning for a selected product/service
The effective product positioning is important to the success of the business as well as market
place there are product have to evaluate the needs and wants of the customers. In the market the new
product have to determine the product life cycle to define the position of the product in market. Product
positioning can help to increasing the sale as well as performance of the market. It can be understand
the customers mind which can help to increase the position of the product and service that is used by
the customers. Product positioning have to important for the market plan which can be determine the
how to best communicate the product in effective way that is based on the customers needs it include
the competitive market to their product as well as service to set the target of the company. The market
have to set the effective position of the product that can be evaluated the target and sale of the market
which is create by the customer according to their needs and wants and they can define the satisfaction
of the product in marketplace. That is essential to the service and product to define the position of the
market.
AC 3.1 How products are developed to sustain competitive advantage
In the market process sustain competitive advantage is the essential part of a corporate strategy

which is improve the business as well as competitive position in the market place. It can be determine
the long period of time. They can define the effective and higher benefits which can show the
performance of the company that can involve the competitive advantage to define the goals and target
of the IKEA (Kotler, 2012). There are three way to define the focus which is define the competitive
advantage:
Cost leadership- It can be define the sell and produce product and service at a lower price as compare
to competitors. They can involve low cost leadership to achieve the profits of a specific market. It is not
a practical process to require the high investment to get appropriate economic goals of the market.
Differentiation- It is specific strategy which can determine the product and service according to their
features and benefits from the competitor of the company as well as market process. It is a common
strategy which is important to the many company that can able to determine the feature and benefits of
the market that is increase the performance of the IKEA.
Focus- Focus is the essential process which is focus on the limited part of the market which can be
define the unique customers that can evaluate the needs and wants of the service user and get effective
satisfaction of the market place.
AC 3.2 How distribution is arranged to provide customer convenience
In all the business have to arrange the distribution process to provide service to customer
convenience. Which can help to improving the performance of the market as well as organization also.
In the distribute process they involve the e- commerce which is define the amazon.com which is
arrange the distribute service to their customers in effective way (Hastings and Sheron, 2013). The
distribute channel can be define in all market process to get higher satisfaction by the customers.
Distribution can arranged to provide customers convenience in the market process which is evaluate the
customers satisfaction with the help of providing the service. Distribution can be involve the stores
which is define the display to provide the service in market to their customers that is buy the product in
store so that the customers can fulfil their needs according to their wants and desires. The store is local
distribution which is provide the service in convenience. Distribution channel have to involve the
retailer as well as consumers which is show the product quality in effective manner and define the
result of the market. Distribution channel is a continuous process to providing the service to the
customers in effective way.
AC 3.3 How price are set to reflect an organization's objectives and market condition
In the market the price is essential factor to determine the product in front of the customers
which can help to buy the product in effective cost (Gummesson, 2011). The management have to

decide the strategy of the market and goals and objectives of the IKEA. It can decide the product line
which can help to determine the specific price of profit that can evaluate the benefits of the market. The
price is basically based on the organization goals and marketing condition that reflect on the market
process. The IKEA have to look at the market condition which can define the performance of the
market on appropriate manner to get higher satisfaction by the customers. Many business have to
manufacturing products for the new customers in lower price which can help to attract the customers to
buy the more product to increase the sale of the market. The main objective of the market to introduce
the effective product to their customers to get effective satisfaction which can help to improve the
image of the organization as well as market process.
AC 3.4 How promotional activity is integrated to achieve marketing objectives
Marketing process involve the promotional activity which can define the process of developing
the product and service to customers to increasing the sale of the market and get high profitability. The
promotional activity can be attract the customers interest which can help to buy the product as well as
brand. The promotional process is long time period of activity which can the define the objectives of
the market. Promotional activity promote the brand and product in customers mine that can have to
reach the target of the IKEA. They can involve the large number of customers which can focus on the
target of the company and achieve the appropriate objectives. Promotional activity can be define the
awareness about the product which can be help to gathering the information regarding the effective
product to evaluate the risk of the company and increase the productivity of the market process.
AC 3.5 Analysis the additional elements of the extended marketing mix
In the marketing process there are three additional elements which can be define the
productivity of the market which are people, process and Physical evidence (Dief and Font, 2010).
People- It is essential element of the marketing mix which is define the service of the market. The
important part is selling the product to the customers. In the marketing process the IKEA have to
always focus on friendly and quick service to increase the demand of the product in effective manner.
Process- Process is the continuous process to evaluate the product and control of the company which is
determine the product quality which is used by the customers to get effective satisfaction by the service
users (HADM 2410: Marketing Principles, 2017).
Physical evidence- It is an important factor of the marketing mix that can be take the decision regarding
the service of the company. It can be define by the symbols, sign that can be identify the IKEA in
effective manner.

TASK 2
AC 4.1 Plan marketing mixes for two different segments in consumer markets
The marketing company is basically focus on the target market which is include the
demographic and physiography segments which can be define the process of the company as well as
market. Demographic segment define the sex, age, education, race and occupation of the consumers,
(Colby, Johnson Scheett, 2010). physiographic segment can be determine the different level of lower
class, middle class and upper class which is identify their customers in appropriate manner. In the
IKEA they have to focus on the population which is exist in the world, but the target of the marketing is
based on the young generation. Plan marketing mix can be include different income level of the
promotional activity that can help to achieving their target in effective way (Colby, Johnson Scheett,
2010).
AC 4.2 Difference in marketing products and services to businesses rather than consumers
In the market of the business can be define the some service that is lack of ownership,
intangibility and inseparability which can be determine the effective market process to evaluate the
satisfaction of the consumers. When a product is tangible where the service having the intangible
nature. Tangible product can be help to satisfy their customers but the service can not be tangible and it
can not be satisfy the customers (Catterall, Maclaran and Stevens, 2013). The marketing process is
focus on the 4P’s of the marketing mix which is product, price, place and promotion that is help to
determine the demand of the customers.
AC 4.3 How and why international marketing differs from domestic marketing
In the marketing system the international marketing is that marketing which is deal with several
country in the world. That is define the large number of customers in the whole world. It can be
promote and sell of the product in different company (The Four Basic Principles of Marketing and
Their Role in an Effective Marketing Strategy). The international market is risky The domestic market
define the goods and service in limited area of the home country. It is selling of the product in local
financial market which can deal with the economic issue that can create more flexible of the market.
Domestic market is less risky according to the international market.
CONCLUSION
In the above mentioned report has been define the marketing strategy which can determine the
systemic process to evaluate the product in market. Marketing principle is basically based in the

customers satisfaction and increasing the sale in appropriate manner to set the goals and objectives of
the company. It can easy to taking decision regarding the product as well as customers which used the
service in effective manner to fulfil their needs.

REFERENCES
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The Four Basic Principles of Marketing and Their Role in an Effective Marketing Strategy. 2017.
[Online]. Available through: <http://www.brandyoubrilliant.com/the-four-basic-principles-of-
marketing-and-their-role-in-an-effective-marketing-strategy/>. [Accessed on 24th May 2017].
HADM 2410: Marketing Principles. 2017. [Online]. Available through:
<https://sha.cornell.edu/admissions-programs/undergraduate/academics/courses/course.html?
ps_course_id=359336>. [Accessed on 24th May 2017].