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Benefits of an Effective Marketing Strategies Assignment
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Added on 2020-01-07
Benefits of an Effective Marketing Strategies Assignment
Added on 2020-01-07
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Task-22.1 Show macro and micro environmental factors which influence marketingdecisions?2.2 Propose segmentation criteria to be used for products in different markets?2.3 Choose a targeting strategy for a selected product/service?2.4 Demonstrate how buyer behavior affects marketing activities in differentbuying situations?2.5 Propose new positioning for as elected product/service?Task-33.1 Explaining how products are developed to sustain competitive advantage?3.2Explaining how distribution is arranged to provide customer convenience?3.3 Explaining how prices are set to reflect an organization’s objectives and marketconditions?3.4 Illustrating how promotional activity is integrated to achieve marketingobjectives?Task-4PresentationConclusionReferencesIntroduction2
Organization is comprised of several complex set of activities and is beingincorporated by promoters groups with a view to earn profit and satisfy clients atlarge. In this fast moving business environment in order to grab more clients andexpanding market share a sophisticated marketing strategies needs to be developed.Throughout the time with the increasing ramification of changes in the workingsystem of the organization and consumers’ demand there is needed to adopt aneffective marketing mix..There are several benefits of an effective marketingstrategies such as establishment of brand image, high turnover of sales, productawareness and furthermore. In this report a complete adamantine study would bemade about how marketing strategies are useful in grabbing determined market share.Task-13
1.1 Explain the various elements of the marketing process?Marketing process- It is the management process which is used by sales personsin order to identifying, anticipating and develops a plan that could be used todevelop customized products to satisfy clients’ needs and demand. Various otherassociations have also revealed the definition of MARKETING PROCESS e.g. it isthe process of identifying and capturing consumers’ needs and develop an actionplan accordingly in significant manner.Key elements of marketing process- Auto Trader Company is the big companywhich is selling cars and other automobile goods in all over the world. There arevarious elements which are used by Auto Trader Company in making marketingprocess effective.Situational analysis- It is the analysis which is used to understand internal andexternal factors of Auto Trader Company. However company could easily useSituational analysis to evaluate micro and macro factors such as client’spurchasing power, economic conditions. Eventually Auto Trader Company caneasily identify the client’s choice of action and can use eradicate the consumer’swants and what is being offered by Auto Trader Company in determinedapproach (Atasu, et. Al., 2010).Marketing strategy- In the scenario given it is considered that variousmarketing team are making consistent efforts in harsh way to get more sales.This type of marketing practice lives brand image of the organization negative.Therefore Auto Trader Company needs to analyses all the internal and externalfactor of the car industry and then needs to make effective marketing strategy.Marketing mix decision- It is related with the production of right goods to rightpeople. Auto Trader Company needs to make determinedchanges in its valuechain activities so that clients want and needs could be satisfied with the offeredproducts.Implement and control- with the gradual efforts of the Auto Trader Company inits marketing process there is requirement to make implementation of the4
planned activities. In this process Auto Trader Company will implement itsmarketing strategy and evaluate Uclient’sreciprocate behavior. In the end top management will make plan toovercome identified gap in its control analysis activities.1.2 Evaluate the benefits and costs of a marketing orientation for aselected organisation?Marketing orientation- It is the business model which focus on delivering productsand designing it according to clients desire, wants and need and provide at mostsuitable customised product There will be several benefits of marketing orientation of Auto Trader Companywhich are shown as below.Better marketing program- Auto Trader Company is being following marketingorientation technique in its marketing techniques. Therefore available feedbacksfrom clients and other required document regarding competition could be usefulfor better marketing program (Shaw, 2012,).Increment in the client’s numbers- Marketing orientation helps Auto TraderCompany to evaluate all the required needs and wants of the clients from all overthe world. Therefore development of customized products in its value chainactivities results into drastic profit to grab more market share.Increment in the brand image- Auto Trader Company by following marketingorientation could easily fulfill client’s wants and desire which eventually resultsinto high creation of brand image in the mind of customers at large.More market oriented- This type of strategic tool of Auto Trader Company willprovide company a privileged to gain information about the current and recenttrends that will results into betterment of sustainability of the organization.The most effective benefit of this market orientation would be that sales personwould be very soft in handling clients and will give proper assistance in selectingthe car as per their choice of action.5
Cost of market orientation- Auto Trader Company needs to hire a separateteams and sales persons who will be complete indulge in collecting data andrequired information form potential clients. There will be so many sourcesinvolved in collection of required data such as primary andsecondary sources. Inaddition to this Auto Trader Company also needs to changes its value chainactivities in order to make customized products that will also require highamount of investment in new technology, plants and machinery at large.Task-2In this report CEO has asked to make a complete evaluation plan on all theunforeseen micro and macro factors which could affect the marketing activities6
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