Marketing Principles and Strategies

This assignment delves into the core elements of a successful marketing plan. It examines key concepts such as market segmentation, targeting strategies, competitive analysis using Porter's Five Forces model, and the importance of sustainable competitive advantage. The analysis also explores the integration of promotional activities with overall marketing objectives and the role of technology in modern marketing.

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Contents
INTRODUCTION.....................................................................................................................................2
TASK 1.......................................................................................................................................................3
ELEMENTS OF MARKETING...................................................................................................................3
1) PRODUCT..........................................................................................................................................3
2) PRICE.................................................................................................................................................4
3) PLACE................................................................................................................................................4
4) PROMOTION ....................................................................................................................................5
BENEFITS AND COSTS OF A MARKETING ORIENTATION FOR ELECTRIC CARS.......................................5
TASK 2.......................................................................................................................................................7
MACRO ENVIRONMENTAL FACTORS WHICH INFLUENCE MARKETING DECISIONS...............................8
SEGMENTATION CRITERIA FOR PRODUCTS.........................................................................................10
TARGETING STRATEGY FOR A NEW SMART PHONE ‘PINK’..................................................................12
MARKETING ACTIVITIES ARE AFFECTED BY BUYER BEHAVIOR............................................................13
NEW POSITIONING FOR A PRODUCT...................................................................................................14
TASK-3.....................................................................................................................................................14
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SUSTAINABLE COMPETITIVE ADVANTAGE..........................................................................................14
DISTRIBUTION ACCORDING TO CUSTOMERS’ CONVENIENCE............................................................16
PRICES SET TO REFLECT ORGANIZATION'S OBJECTIVES.......................................................................17
PROMOTIONAL ACTIVITIES TO ACHIEVE MARKET'S OBJECTIVES........................................................18
ANALYSIS OF ELEMENTS IN EXTENDING MARKETING MIX.................................................................19
REFERENCES............................................................................................................................................21
INTRODUCTION
An organization, perforce, needs to determine the competency of the product or service along
with its suitability for the consumers in its target market. This brings in light, the concept of
marketing mix, an imminent tool for any organization to implement various actions, strategies
and marketing tactics for promoting its own brand, product or service. This introduces other
concepts such as product life cycle, new product development, pricing strategies, distribution
options, promotion mix and other extended elements of marketing mix.
TASK 1

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ELEMENTS OF MARKETING
Marketing, the term can be explained as the act of promoting or selling the product or service
after performing the market research and analysis to have an idea about the future growth of
that product or service. While designing a product and preparing its marketing strategy the
most important thing is to analyze that whether the customer will be satisfied by the product
supplied. Various analysis models are present that can be use to anticipate the requirements
of the customers that can be helpful while designing the features of the product. and The
keystones in the concept of a successful marketing plan are product, price, place and
promotion which are also referred as the four Ps of marketing. (smallbusiness.chron.com,
2016). There are different elements of marketing process which are explained as below:
 Analysis of market opportunities- The company is required to identify about current
and future market trends and current resources and capabilities along with internal and
external environment. Research for environment context is a concept which defines
strengths and weaknesses of the company and competitive forces at work and the macro
factors which affects the business and what has been demanded by the market.
 Selecting the target market- The next step of marketing process is to choose the target
consumers by the company which will help the organization in strategic planning about
its products. The company segments the whole market in different parts based on
different aspects of customers and will select the best one for delivering its products
and services.

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 Market strategy- The next step involves developing marketing strategy by an
organization after selecting particular market segment of the customers. Marketing
strategy consists of proposal of value, targeting, segmenting and positioning of services
and goods. It gives organization a general vision of achieving goals and objectives
which the company desires for.
 Marketing mix decisions- The next step of marketing process involves determining
marketing mix decision regarding Products and services of organization . It also
includes pricing decision, promotional marketing campaign growth etc.
 Implementation and control- It is the last step in the process of marketing which
allows organization to assess whether they had planned and performed with ethical due
diligence and accordingly to their strategies so as to achieve customer satisfaction and
also brought to market the right marketing approach and mix.
BENEFITS AND COSTS OF A MARKETING ORIENTATION FOR ELECTRIC CARS
Example of an electric car has been taken here in reference. Electric car is an automobile that
is motivated by the use of electric motors, where the electrical energy is stored in the
rechargeable batteries or any other device. The invention of electric car has made life much
convincing as it has a number of advantages over the conventional fuel based cars. Though an

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electric car has many merits but they are still uncommon among the people. A proper
marketing strategy is required for increasing the sales of electric car. The product (car) needs
to be promoted on a very large scale platform like social networking sites such as Facebook,
Twitter etc. (Dennis, Halborg, Ross, 2001)
BENEFITS OF PROMOTING THE ELCTRIC CAR THROUGH SOCIAL MEDIA
 Promotion through social media builds credibility as with the increase in number of
followers and the amount of customer engagement, more potential buyers are
influenced.
 Electric car’s image and popularity will be enhanced when more and more people will
connect with the advertisement of the product through their friends on the social
media. It will increase the recognition in the market.
 Online information is more accessible to people rather than any physical piece of
information.
 Making use of social media is very cost efficient because the only requirement is
internet access.
 Social media provides a long term audience which results in assured success of the
product in the market.
COST OF PROMOTING AN ELECTRIC CAR THROUGH SOCIAL MEDIA

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 Cost of promoting the product (car) varies on the basis of which networking site is
used. For instance if Facebook or Twitter is used then the only requirement is internet
that will be of negligible cost. But in case of Google advertisements the cost will be
very high.
 The budget for promotion must be decided very carefully because if the profit made by
the electric car in the market and the promotion budget is almost near then this will be
of no utility. Thus the amount that is to be spent on promoting the car must be less
than an estimated profit that will be made by the car in the market. (ukessays.com,
2016)
TASK 2
MACRO ENVIRONMENTAL FACTORS WHICH INFLUENCE MARKETING
DECISIONS

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MACRO ENVIRONMENTAL FACTORS
The smart phone industry has successfully expanded its market worldwide. According to the
PEST model that is P-Political, E-Economic, S-Social and T-Technological the working analysis
of smart phone industry is explained below:
POLITICAL
Foreign countries are not satisfied with the high
roaming charges, bullying has also increased etc.
Example- there is a bunch of legal issues between
Apple and Samsung.
ECONOMIC
Recession and a poor economy can lead to a
market failure; prices must be free for the
products etc. Example- 19% lesser products were
traded during recession period in Japan.
SOCIAL
Launching of new models are attracting people
especially teens, having latest model has become
the status symbol etc.
TECHNOLOGICAL
They are the fastest means of communication, the
best possible technology being used. Example-
Major competition is Android versus Apple.
MICRO ENVIRONMENTAL FACTORS
The micro environmental factors are analyzed on the basis of the Porter’s Five Forces analysis
and SWOT analysis model. The Porter’s five forces analysis is a framework comprising of five
forces that analyzes the business strategy for the development and the level of competition
within an industry.

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1. Threat of new entrants- This is very low as the smart phone industry requires higher
investment which is not an easy job for the new comers.
2. Bargaining power of buyers- This is relatively high because the buyers can switch to
another brand or model if they are not contented with bargained value.
3. Bargaining power of suppliers- Unlike the buyers, this is low because the customer
always has a larger number of suppliers and if the bargaining power of the supplier
tends to become higher, the customer is more likely to move to the other supplier with
low bargaining power.
4. Threat of substitute products or services- The rate is low here because providing a
substitute product or service is not a child’s play for any supplier.
5. Rivalry among the existing competitors- The rivalry rate is relatively low because of the
limited number of suppliers and each supplier provides its own specifications. (Grundy,
2006)
SWOT analysis is a market analysis strategy that determines the future growth aspects
in reference to the existing measures taken by the company. The acronym stands for:
1. Strengths- Uniqueness of products in the market, usage of the latest technology and
moderate cost of smart phones are some of the attractive features that increase its
demand in the market. Example- iphone has a great demand in the market.

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2. Weaknesses- High staff turnover is a setback in this field. Moreover, customers would
like to try new models of smart phones launched with the latest technology so any
smart phone does not have much long life.
3. Opportunity- This is an innovation based field that means the market is never going to
lose its value. Other opportunities are like new products can be launched at any point
of time and markets also keep evolving thus providing more profit.
4. Threats- Some major threats are like bad economy, change in preferences of the
customers and government rules and regulations.
SEGMENTATION CRITERIA FOR PRODUCTS
Segmentation is another strategy of marketing a product where the broader market is divided
into subsets of the consumers that share a common feature or trait. The subset that is
expected to yield the highest profit becomes the target market. Demographic segmentation is
the division of people and combining them into different set of groups on the basis of their
age, gender, race, religion, income etc. This helps any organization to target the consumers
more specifically and accurately. There are two types of market: consumer market and
organization market. Consumer market means buying and selling products to the customers for
their own use. On the other hand, organizational market refers to buying and selling products
from one business to another business. Therefore, company can segment market for its new
smart phone PINK, in number of ways as:

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 Behavioral segmentation – It divides the market into group based on the knowledge,
attitudes, uses and responses for the smart phone launched by leading smart phone
company.
 Psycho graphic segmentation – it is a concept which segments the customer on the
basis of lifestyle of the customers. It is the part of marketing strategy. It involves
various aspects of customers and their lifestyle which affects their purchase decisions
for newly launched smart phone, PINK.
 Profile segmentation- it generates accurate and precise customer information about
smartphone, 'Pink' that can increase organization's effectiveness. Information may be
useful in large variety of circumstances like customer issues, lifestyle characteristics
etc.
 Geographic location segmentation - It is equally feasible for the company for its
product namely PINK, in this type of behavior the segmentation is done on the
locality of the customers.
 Benefit segmentation – it is another criteria for the company to segment customers.
It involves the economic value of smart phone “Pink” to the customers. The company
has recognized that customer buy the smart phone for different reasons and place
along with different values on smart phone features.
TARGETING STRATEGY FOR A NEW SMART PHONE ‘PINK’
Targeting-Strategy means the way in which business selects its potential customers to
to sell their products and services. The targeting strategy includes

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segmentation of market , choosing appropriate segments of market and also determining the
products that will be offered in each segments to their customers.
In general, company produces different products and services for certain group of
people
or customers. Leading smart phone company has launched new smart phone “Pink”
can use different marketing strategies for its product.
For example- A new smart phone ‘PINK’ is launched in the market by a leading smart phone
company. The segmentation is the first step in the targeting strategy of any product in the
market where the customers are divided in a group on the basis of any common trait or
feature. These groups are also referred as the segments. The segment for PINK is the group
comprising of females. Thus the specifications of the model will be as per the requirements of
the segment. For instance PINK may have features like:
 Availability of beauty specific applications.
 Stylish and sleek model.
 Good quality camera.
 Security specific features for a woman’s safety etc. (businessdictionary.com, 2016)
The company follows different marketing strategies like:
▪ Differentiated or selected marketing- In this, the firm manufactures the product
which is different from another products to achieve competitive advantage by
company over its competitors..

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▪ Concentration marketing and mass- this type of marketing focuses or
concentrates on a particular group.
▪ Undifferentiated marketing- In this, attention is not given to apparent segment
differences that exist within the market. It aim at delivering the products and
services to different segments of society.
▪ Focused marketing- it is a form of marketing which requires the marketing
manager to carefully study their organization and analyze its position in the
market so that a plan for focused marketing can be formed.
The leading smart phone company uses mass marketing strategy for developing its smartphone
as the said company is concerned about producing different products for all segments of
customers. It sells its smartphones using its own marketing mix to match the requirements of
their customers and fulfill their needs. It aims to build customer satisfaction and good will.
MARKETING ACTIVITIES ARE AFFECTED BY BUYER BEHAVIOR
The buyer is very specific about what type of the product is to be purchased but the mindset
of the buyer can be altered by adopting excellent marketing strategies. The marketing of any
product must be strategized in order to attract buyer’s attention towards the product.
According to the regular behavior of the buyer, the attractive presentation of the product
results into more curiosity from buyer’s side. There are four types of buying behavior which
affects marketing strategies -

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 Dissonance buying behavior- In this concept, customers of an organization is
extremely involved but there are only few products that are available in market.
 Complex buying behavior- In this, customers are involved to a much extent and spends
a lot of time before buying products and services. It mainly includes precious products
and has a great impact on the customers.
 Habitual buying behavior – Customers have low involvement and the products are
available of same kind and quality in the market.
 Variety seeking behavior – In this type of behavior there are too many options available
in market for same kind of product and services. Customer may check different
channels.
For example- if any customer goes to a super market where the products are delightfully
presented the purchase is more as compared to the purchase made in any general store.
(Walker, Mullins, Boyd, & Larreche, 2005). Along with the presentation, if the product is
available at lower price than the expected one, the buyer gets fascinated. Thus providing
heavy discounts for a specific duration of time is also a good marketing strategy. Hence the
marketing strategies are greatly affected as per the buyer’s behavior. Buying behavior is made
up of internal and external factors that explain the reasons for buying products and services. It
affects the marketing strategy that business employs to promote its products and its mix.
Organizations then create a marketing mix which suits in different types of buying behavior
and needs and wants of customers. buying behavior is related to behavior which they reflects
while choosing a particular product. It can be affected by many ways

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NEW POSITIONING FOR A PRODUCT
Positioning strategy requires looking both internally and externally. First the business as
a whole needs to be properly positioned, then product an services portfolio needs to be
positioned .typically there are three dimensions to positioning: functioning, relevance, and
differentiation.
The marketers can propose and change positioning strategies for a market segment.
For example-
A smart phone is launched in the market where the target market is the group of senior
citizens. The smart phone will have specifications according to the necessities of the target
market or the segment. The features can be: buttons are of bigger size than usual ones, an
easy to read screen with bigger font size, having special features regarding directions, good
quality speakers etc. The design of the smart phone must be according to the target market
otherwise it would be of lesser use. The product is expected to experience a booming sale in
the market as per the market research and analysis because it is the first product in the
market having such characteristics. If any new model of smart phone is to be launched for any
other segment then the most important thing that needs to be taken care of is the
technological influence. The smart phone must be designed according to the current
technology that is in demand. The next and the most crucial stage is the promotion of the
product. An efficient promotional strategy plays the most influential role in deciding the level
of accomplishment of the company. (Kotler, Kelvin, 2012)

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TASK-3
SUSTAINABLE COMPETITIVE ADVANTAGE
Sustainable competitive advantage is the focal point of a corporate strategy,it allows the
company to maintain and improve an enterprise's competitive position in the market. Its an
advantage to the company which enable the company to survive for long in corporate industry.
The goal of much of business strategies is to achieve a sustainable competitive advantage.
There are many ways by which company can develop its products and attain sustainable
advantage.
An organization must be competent to sustain any kind of competition that comes its way. It
should be able to transform any disadvantage to its favor in such a highly competitive market.
For ex- Walmart has great marketing strategies that diminish its competition. Some of the
various means that can be adopted to sustain such competitive advantage are described
below:
 Distinguishable from other competitions
It is evident from the present state of the market that a company with distinguished
features and benefits provided for its products and services is more likely to earn
profits and charge premium prices above the conventional margins. Therefore,
promotion on the basis of unique features of the product must be conducted to
sustain in the competition. Apple, BMW, Nike are the some companies successful
because of their differentiated properties.
 Easy to access
Any product or service can only be beneficial if they are easily accessible to the
majority of the customers. This will definitely attract a major group of customers. For

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ex- services provided by Amazon, Flipkart, etc. provides home delivery of products
along with cash on delivery options which gives easy access to the customers.
 Meeting customers’ demands
It must be very well anticipated before the development of the product about what,
how and when the customers want the services and products. The product must then
be developed accordingly to meet those demands. For ex- Dell surpassed Compaq,
IBM entered consultancy services based on the strategy of customer intimacy. (Davis,
2013)
according to the marketing manager of a large bank,product development has industrial
and insubstantial benefits. The manager is of opinion that there two parallel paths in
which product can be developed in order to gain sustainable advantage:
 one path is related to market research and analysis.
 Another one is related to market research
product development is essential otherwise it will get tough to get competitiveness
in market. Process has been conducted by marketing manager of large bank so as
to enable product development :
▪ idea screening
▪ concept development
▪ business analysis
▪ beta testing and market testing
▪ technical implementation
▪ commercialization
▪ pricing of new product.
The manager of large bank follows this process to maintain its process
of product development . Although bank also conducts several steps at a time for
production of its own goods and services.

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DISTRIBUTION ACCORDING TO CUSTOMERS’ CONVENIENCE
Distribution of the product concerns about delivery of the product to the ultimate user. It can
be directly distributed to the consumer or can involve intermediaries such as retailers,
wholesalers, etc. Some of the ways of how products can be distributed as per the convenience
of the customers are:
 Location
If the product is out for sale in a store, then it must be located at a place that catches
the eye of the consumer. Remote locations must be avoided. For ex- Walmart,
Subway, McDonalds, etc. are known for their locations.
 Selecting appropriate distribution network
On the basis of nature of product, an appropriate distribution network can be selected.
It can be of three types:
Intensive Network: Low-priced products should be made available at as many stores as
possible so that it is not substituted by some other product that is more conveniently
available. For ex- packed products are available at all general stores.

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Selective Network: Products such as washing machines, laptops, vehicles, etc. are
preferred to be purchased by the customer from some selected dealers. For ex-
Whirlpool is the most trusted and preferred brand by customers in case of
refrigerators and washing machines.
Exclusive Network: Products with very high range such as MercedezBenz, Tanishq
Jewelers, etc. should be made available at exclusive stores to attract the attention of
the customers.
 Home Delivery
Websites like Amazon, Flipkart, Myntra, Jabong, Pepperfry, etc. provide products of all
kinds in every type of range with an exclusive facility of cash on delivery, payment
gateway, exciting offers, etc. So, home delivery is also one of the ways of distributing
products. (Sujai, 2010)
Distribution plays a crucial role in enhancing the convenience of the customers. The distribution
system of a company can appear as a major competency for the company. There are 4 elements of
marketing mix including product, price,promotion and place. The distribution comes under place
category. In the case of large bank, the marketing manager is of opinion that there should be good
accessibility of banks to its customers so that will enhance the potential sales for bank. The bank
focuses on to open their more branches so as large number of people can access the services. Bank uses
three types of distribution channels that can be used to improve customer convenience. It aims to make
customer feel convenient while dealing in their services.
PRICES SET TO REFLECT ORGANIZATION'S OBJECTIVES
Prices are always established within an organization's objectives or goal and market
conditions in mind. Pricing is an important marketing strategy in all manners.

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A few types of pricing strategies can be implemented in order to achieve objectives of the
organization which are as follows:
 Varied pricing
Companies can provide different pricing of the product in developed countries for
greater market share and in developing countries to gain customer support. For ex-
Samsung, Philips, Apple, etc. Apple provides its latest model of iphone 7 at Rs. 60,000
in India which is available at only Rs. 43,400 in USA.
 Reduced pricing
This strategy aims at producing a product and using it at the time of launching a new
product to make returns before it becomes infeasible. For ex- Sony, Versace, Jaguar
cars, etc.
 Diminished Pricing
Prices of the products must be kept low to expand the market in any particular field.
Examples of this include companies such as Pound Iand, Primark, etc. have kept the
pricing of their services low in order to meet their organization's objectives. (Merkado,
2012)
the large bank has adopted adopted to keep the price low than competitors to penetrate
the market. The bank aim to arise awareness regarding products among customers and
insists people to try the products and services that has been rendered by by bank. The
objective of the marketing department of Large bank is to deliver quality services to

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customers with reasonable prices. However, the pricing strategy of the large bank
changes with market condition
PROMOTIONAL ACTIVITIES TO ACHIEVE MARKET'S OBJECTIVES
Promotion activities are integrated to make the connections that turns
into lead and sales in the way it promoted its brand is important, the objectives of marketing I
can be only achieved by reaching out its target and
obtain and retain customers. Promotion is one of the activities of marketing mix and there
are different promotional activities like advertising. Public relations , personal selling and sales
promotion.
Promotional activities are undertaken by any organization to develop recognition among the
consumers about their products and services. Some of these activities are listed below:
 Promotion through advertisements
All kinds of advertisements such as TV advertisements, Google ads, newspapers,
magazines and participation in sponsorship events can help in promotion to a much
larger extent. This includes most of the organizations such as Apple, Amazon,
Samsung, MercedezBenz, etc.
 Recommendation and public relations
Recommending the products of a company by developing its reputation in extending
customer care services can help in building strong public relations. Its biggest example
is Airtel which is trying to develop transparency between its customers by revealing its
network information.
 Promotion through attractive offers

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Providing coupons, discounts and other kinds of offers can also be helpful in promoting
products. For ex- Flipkart, Myntra, Amazon promote mostly in this way. (Mack, 2013)
if marketing department of large bank wants to achieve its marketing objectives then it
need to integrate its promotional activities. It can also include other promotional
strategies like coordination, repetition, consistency and reach. Personal selling is also
very effective medium. It includes individual gathering , correspondence , telemarketing
and message. Different sales promotions techniques have been used by the large bank in
order to enhance its value.
ANALYSIS OF ELEMENTS IN EXTENDING MARKETING MIX
The extended marketing mix is a combination of elements that make up a campaign to sell
products and services. It is an extension of the original marketing mix of product, price, placement and
promotion. The marketing manager of large bank aim to launch new campaign by analyzing how to
organize them , given the product, reputation of bank and the market. the first four elements of
marketing mix are product, place, price and promotion.
Three extended services of marketing mix have been added which are recommended to be
considered while reviewing competitive strategies:
 People
Different individuals must be appointed for different purposes such as recruitment,
marketing activities, customer contact, training, etc. people are one of the crucial part
of extended marketing mix elements. With out people the bank will be unable to carry
out its functions smoothly. With out people it will be unable to deliver its services to its
respective customers.

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 Process
Process services of marketing mix involve research and development, IT-supported
design features, customer focus, etc. it means that if every other Ps is applied to a
product or while rendering services to the customers, but the process is weak, it will
only lead to failure is the key to success in promoting the brand image and services
among customers. Bank should have proper and appropriate process that s should be
carefully planned.
 Physical evidence
This involves taking feedback from customers such as their online experience,
experience of the staff about a particular brand or product, packaging of the product,
etc. For ex- Facebook messenger, Skype, PepperFry, etc all provide rating chart for
users' experience to obtain their feedback. (Yoo, 2000)
Thus, it can be concluded that marketing mix is an extremely powerful marketing strategy tool
that can enhance the production of any company to a great extent if its elements are
implemented appropriately.
TASK 4

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TASK 4

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Place: In different areas of UK, the organisation can establish their operations through they can
attract various customer.
Promotion: With the help of advertising, sales promotion and many events, Vodafone can
easily attract various customer.

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Place: In order to develop operations the cited organisation offers their products and services in
online and offline stores. Thus, the firm can easily expand their business in different areas.
Promotion: Promotional strategy consist to promote the business products and services in
which firm can use advert, sales promotion and many other activities.

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Meaning: Vodafone has different types of products such as sim card, recharge voucher and
many more things. On the other hand, services are facilitates to feel high satisfaction by

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customer such as full networking and voice calling, etc.
Nature: Products of the cited firm can touch such as sim card and voucher. As compare to this,
services are intangible in nature which cannot be seen.
Ownership: In order to transfer of product, ownership is transferred. For instance, in purchasing
of sim card and voucher, can transfer ownership. On the other hand, in services Vodafone
cannot transfer ownership such as delivering full network, SMS, etc.

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