The Concepts and Process of Marketing - PDF

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TABLE OF CONTENTS
INTRODUCTION................................................................................................................................3
TASK 1: UNDERSTANDING THE CONCEPT AND PROCESS OF MARKETING......................3
1.1 Elements of marketing process..................................................................................................3
1.2 Benefits and costs of a marketing orientation program for Asda..............................................4
TASK 2: BE ABLE TO USE THE CONCEPTS OF SEGMENTATION, TARGETING AND
POSITIONING.....................................................................................................................................4
2.1 Showing macro and micro factors which influence marketing decisions.................................4
2.2 Proposing segmentation criteria to be used for products in different markets..........................4
2.3 Chosing a targeting strategy for a selected product and service................................................5
2.4 Ways in which buyer behavior affects the marketing activities in different buying situations. 5
2.5 New positioning strategy for Asda.............................................................................................6
TASK 3: UNDERSTANDING THE INDIVIDUAL ELEMENTS OF EXTENDED MARKETING
MIX......................................................................................................................................................6
3.1 Explain how products are developed to sustain competitive advantage....................................6
3.2 Ways in which distribution is arranged to provide customer convenience................................7
3.3 Ways in which prices are set to reflect the organization's objectives and market conditions....7
3.4 Ways in which promotional activities are integrated to achieve the marketing objectives.......7
3.5 Analyzing additional elements of extended marketing mix.......................................................8
TASK 4: BE ABLE TO USE THE MARKETING MIX IN DIFFERENT CONTEXTS....................8
4.1 Planning marketing mix for two different segments in consumer markets...............................8
4.2 Difference between B2B and B2C market.................................................................................8
4.3 Differentiating between international marketing and domestic marketing................................9
CONCLUSION..................................................................................................................................10
REFERENCES...................................................................................................................................11
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INTRODUCTION
Marketing is a practice where business develops different strategies and tactics for the
purpose of promoting products at market place. The practice has a direct relationship on company's
growth and success because it is integrated with the customer satisfaction. The study has been made
on Asda which is one of the largest retail entities in UK and which serves almost all sorts of
products to the customers. Thus, for such purpose, researcher has mentioned elements of marketing
process along with the need of market orientation process. Furthermore, difference between
domestic and international marketing is also stated through which the scope of globalization for
Asda has been identified. PEST analysis has been conducted for the purpose of identifying external
market environment of Asda and with such discussion; internal capability of business is also
ascertained.
TASK 1: UNDERSTANDING THE CONCEPT AND PROCESS OF
MARKETING
1.1 Elements of marketing process
Marketing is the concept that reflects exchange of products and services with that to money
and organization conducts the practice for the purpose of meeting different needs of customers. The
major aspect under marketing specifies the exchange relationship between customer and company.
Asda has been emphasizing on changing needs of customers so as to retain its position in the
competitive market place (Sicotte, Drouin and Delerue, 2012). In the below mentioned section,
process of marketing for Asda has been discussed:
 Marketing audit: At the initial stage, Asda is required to conduct marketing auditing which
also assists business to ascertain the level of competition by competitive analysis.
 Environment analysis: Prior promoting the products and services, Asda needs to conduct
environmental analysis so that external factors that affect the efficacy of business can be
identified (Saunders and et.al., 2004). In order to analyze the situation of external and
internal market place, Asda can conduct situational analysis in which different strategic
models can be taken into account. With the help of proper situational analysis, all the things
can be adequately considered that affects the practices of business. SWOT model is the
approach that can be used for analyzing internal business activities and through this, the
factors that changes business activities can be ascertained. On the other hand, PESTLE
analysis can also be used so that factors that prevail in external business environment can be
be ascertained. These factors seems to influence business practices; thus proper analysis is
must.
 Identification of customer needs: Under the elements of marketing process, it is essential
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for Asda to analyze the needs and demand of customers. Therefore, on such basis, new
products can be introduced in the market.
 Determining on STP strategies: Afterwards, a nalyzing the purpose of marketing, Asda has
to develop several strategies related to positioning and targeting customers.
 Monitoring and controlling: Lastly, business needs to facilitate controlling on all the
activities so that areas of changes and modifications can be found (Pires, Stanton and Rita,
2006).
1.2 Benefits and costs of a marketing orientation program for Asda
Marketing orientation program is beneficial for Asda because it aids business to analyze the
ways through which competitive advantage can be acquired. Main purpose of such program is to
analyze the market structure so that on such basis, products can be promoted adequately (The
Relationship Between Business Strategy and Marketing, 2012). This is also imperative in terms of
identifying needs and demand of customers; thus accordingly, it aids in acquiring customer
satisfaction. With the help of market orientation program, Asda is able to meet the quality standards
of business which further leads to customer retention. The level of profitability increases due to
more focus on customer perception about the products and services. On the contrary, market
orientation process is a cost associated activity because that consumes time and resources both in
higher quantity. Businesses consider such focus on smaller scale because it takes human efforts in
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