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Unit 4 Marketing Principles : Report

   

Added on  2020-01-21

9 Pages2722 Words57 Views
MARKETINGPRINCIPLES

TABLE OF CONTENTSIntroduction .....................................................................................................................................4Task 1 ..............................................................................................................................................41.1 Explain the marketing process ..............................................................................................41.2 Benefits and costs associated with market orientation .........................................................4Task 2 ..............................................................................................................................................52.1 Micro and Macro environmental factors ..............................................................................52.2 proposed segmentation criteria .............................................................................................52.3 Target strategy for the business ............................................................................................62.4 Impact of buying behaviour on marketing activities ............................................................62.5 New positioning for the product ...........................................................................................6Task 3 ..............................................................................................................................................73.1 Development of products and services to gain competitive advantage ................................73.2 Distribution to achieve high level of customer satisfaction...................................................73.3 Pricing strategy......................................................................................................................73.4 Promotional strategy.............................................................................................................73.5 extended elements of marketing mix.....................................................................................8Task 4 ..............................................................................................................................................84.1 Two marketing mix for two segments...................................................................................84.2 Difference in B2B and B2C marketing..................................................................................94.3 Difference in national and international marketing...............................................................9Conclusion.......................................................................................................................................9References......................................................................................................................................10

Introduction In the present context, companies are required to make use of standard marketingprinciples in order to take some crucial business decisions (Ataman, Van Heerde and Mela,2010). The process is considered important because it helps in achieving differentiation from thecompetitor’s products and services. The purpose of this report is to understand the concept andprocess of marketing within the context of a pharmacy company named Boots. It will do thesegmentation, targeting and positioning for the company’s products. At last, the report will endin creating the marketing mix for the business. Task 1 1.1 Explain the marketing process The marketing process of the Boots consists of the following elements:Market Audit – Company perform the scanning of the market conditions in order toanalyse the future and existing business trends (Armstrong and et. al., 2014). Integrated marketing – Boots make use of this strategy for the purpose of creating aconsistent, seamless and multi-dimensional brand experience for the consumers. Under it,the marketers incorporate all the elements of communication such as sales promotion,advertising, direct marketing etc. (Huang and Sarigöllü, 2012)SWOT analysis – It is about analysing the strengths, weaknesses, threats andopportunities available for the business. Marketing mix decisions – Another thing that company does is to identify the marketingmix for its products and services (Jobber and Ellis-Chadwick, 2012). It covers the pricingdecisions, promotional plans, distribution arrangements etc. 1.2 Benefits and costs associated with market orientation The Boots can design its products and services by using market orientation approach.Under this approach, company works on needs and expectation of the customers despite ofthinking what is right. The orientation is a consumer centric process and it is highly concentratedon behaviour of people. It aids in addressing the demands in the best manner possible. Further itleads to increasing the value of buyers which ultimately promotes things such as loyalty andrepetitive purchasing (Luca and Suggs, 2010). It gives the company a competitive edge over thecompetitors.3

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